Latest Ratios: P/E Ratio 30.0x · EV/EBITDA 22.2x · ROE 29.6%. (2019–2026 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $17.3B | $18.4B | $6.3B | $8.3B | $5.3B | — | — | — | — |
| Enterprise Value | $16.2B | $17.3B | $5.6B | $8.0B | $5.3B | — | — | — | — |
| P/E Ratio → | 29.96 | 31.39 | 12.14 | 16.70 | 4648.72 | — | — | — | — |
| P/S Ratio | 4.86 | 5.17 | 2.13 | 3.32 | 2.78 | — | — | — | — |
| P/B Ratio | 7.53 | 7.89 | 3.86 | 8.35 | 10.91 | — | — | — | — |
| P/FCF | 33.79 | 35.98 | 10.12 | 19.62 | 50.62 | — | — | — | — |
| P/OCF | 31.06 | 33.08 | 9.59 | 19.32 | 49.12 | — | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 4.86 | 1.88 | 3.19 | 2.79 | — | — | — | — |
| EV / EBITDA | 22.24 | 23.79 | 8.52 | 13.50 | 30.67 | — | — | — | — |
| EV / EBIT | 23.22 | 24.83 | 8.70 | 13.60 | 31.24 | — | — | — | — |
| EV / FCF | — | 33.84 | 8.94 | 18.90 | 50.81 | — | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 32.6% | 32.6% | 33.7% | 27.7% | 15.1% | 10.1% | 19.4% | 18.2% | 8.6% |
| Operating Margin | 19.6% | 19.6% | 21.6% | 23.5% | 8.9% | 4.5% | 13.3% | 12.7% | 0.2% |
| Net Profit Margin | 16.5% | 16.5% | 17.2% | 12.3% | 6.3% | 3.5% | 10.4% | 10.1% | -0.2% |
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|---|
| ROE | 29.6% | 29.6% | 38.9% | 41.5% | 24.1% | 10.6% | 36.2% | 40.1% | -0.4% |
| ROA | 16.1% | 16.1% | 17.8% | 15.6% | 9.8% | 5.4% | 16.6% | 20.1% | -0.3% |
| ROIC | 49.0% | 49.0% | 60.6% | 73.9% | 25.7% | 13.2% | 47.2% | 38.6% | 0.3% |
| ROCE | 27.5% | 27.5% | 33.8% | 46.2% | 23.1% | 12.8% | 42.5% | 47.0% | 0.3% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | — | — | 0.02 | 0.17 | 0.31 | 0.01 | 0.01 | 0.02 | — |
| Debt / EBITDA | — | — | 0.05 | 0.29 | 0.87 | 0.06 | 0.03 | 0.03 | — |
| Net Debt / Equity | — | -0.47 | -0.45 | -0.31 | 0.04 | -0.05 | -0.41 | 0.01 | -0.04 |
| Net Debt / EBITDA | -1.50 | -1.50 | -1.12 | -0.52 | 0.12 | -0.32 | -1.06 | 0.01 | -0.73 |
| Debt / FCF | — | -2.14 | -1.18 | -0.72 | 0.20 | — | -2.04 | 0.01 | — |
| Interest Coverage | 265.83 | 265.83 | 48.80 | 42.48 | 92.70 | 2319.12 | 315.80 | — | — |
Net cash position: cash ($1.1B) exceeds total debt ($0)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.45 | 2.45 | 2.09 | 1.98 | 1.72 | 1.50 | 1.49 | 0.83 | 1.30 |
| Quick Ratio | 2.22 | 2.22 | 1.84 | 1.64 | 1.39 | 1.11 | 1.20 | 0.63 | 1.14 |
| Cash Ratio | 0.94 | 0.94 | 0.74 | 0.53 | 0.26 | 0.06 | 0.49 | 0.01 | 0.08 |
| Asset Turnover | — | 0.87 | 0.93 | 0.99 | 1.34 | 1.43 | 1.36 | 1.89 | 1.19 |
| Inventory Turnover | 9.15 | 9.15 | 7.55 | 5.90 | 9.65 | 7.22 | 8.61 | 13.10 | 21.93 |
| Days Sales Outstanding | — | 42.77 | 134.93 | 132.17 | 109.21 | 115.37 | 81.88 | 69.43 | 103.76 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | 266.5% | — | — |
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.3% | 3.2% | 8.2% | 6.0% | 0.0% | — | — | — | — |
| FCF Yield | 3.0% | 2.8% | 9.9% | 5.1% | 2.0% | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 6.7% | 13.1% | — | — | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 6.7% | 13.1% | — | — | — | — |
| Shares Outstanding | — | $153M | $149M | $147M | $146M | $46M | $39M | $39M | $39M |
Project-based revenue lumpiness
Based on current market data, Nextpower trades at a forward P/E of 23.20, which suggests investors are pricing in significant future earnings expansion despite the recent cyclical revenue contraction observed in the company's latest quarterly filings compared to its historical growth trajectory.
The current P/E ratio of 27.85 appears elevated relative to the broader industrial sector, implying that the market assigns a premium to the company's software-driven margin profile. However, the PEG ratio of 7.91 warrants caution, as it suggests that the current valuation may be disconnected from near-term earnings growth potential, necessitating a closer look at whether the software segment can truly decouple from hardware cyclicality.
As reported in financial statements, Nextpower's ROIC has demonstrated resilience, averaging double-digit returns over the last ten quarters, which indicates that the company's asset-light model effectively generates superior returns on invested capital compared to more capital-intensive peers in the utility-scale solar hardware space.
The decline in ROIC from 33.4% in 2024Q4 to 9.3% in 2026Q4 suggests that while the company remains profitable, the efficiency of its capital deployment is facing pressure from increased competition and project-related delays. Investors should monitor whether this trend represents a permanent decay in competitive advantage or a temporary byproduct of the current project-based revenue cycle.
According to recent SEC filings, the company's cash conversion cycle has fluctuated significantly, reaching 92 days in 2026Q3, which highlights the inherent challenges in managing receivables and inventory within the lumpy, project-based utility-scale solar market compared to more stable technology sectors.
The variability in DSO, which peaked at 128 days in 2026Q3, suggests that the company may be granting more lenient payment terms to secure large-scale contracts, potentially impacting short-term liquidity. This trend warrants further investigation into whether these extended terms are a structural shift in customer leverage or merely a temporary response to a tighter financing environment for solar developers.
Based on reported figures, Nextpower has successfully achieved a debt-free status as of 2026Q4, providing a significant competitive advantage in an interest-rate-sensitive environment where peers like Array Technologies continue to carry substantial debt loads that constrain their operational and strategic flexibility.
The absence of debt obligations effectively eliminates interest coverage risk, allowing the company to prioritize R&D and software integration without the burden of mandatory debt service. This financial position appears to be a deliberate strategic choice, positioning the company to navigate potential industry downturns with greater resilience than its more leveraged competitors.
The market frequently misapplies standard EV/EBITDA multiples to Nextpower, failing to account for the high-margin software component that differentiates the company from traditional, commoditized steel-and-motor manufacturers, which obscures the true underlying earnings quality and long-term growth potential of the business model.
By treating the company as a cyclical industrial firm, investors may be underestimating the value of the TrueCapture software suite, which provides recurring-like benefits and yield optimization. A more appropriate approach would involve a sum-of-the-parts valuation that separates the hardware business from the higher-multiple software segment to better reflect the company's unique competitive moat.
Includes 30+ ratios · 8 years · Updated daily
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Quick answers to the most common questions about buying NXT stock.
Nextpower Inc.'s current P/E ratio is 30.0x. The historical average is 20.1x. This places it at the 67th percentile of its historical range.
Nextpower Inc.'s current EV/EBITDA is 22.2x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 19.1x.
Nextpower Inc.'s return on equity (ROE) is 29.6%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 27.6%.
Based on historical data, Nextpower Inc. is trading at a P/E of 30.0x. This is at the 67th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Nextpower Inc. has 32.6% gross margin and 19.6% operating margin. Operating margin between 10-20% is typical for established companies.