NextDecade Corp NEXT

Utilities SIC 4923 - Natural Gas Transmisison & Distribution NAICS Utilities › Natural Gas Distribution derived Nasdaq

NextDecade Corporation, a Delaware corporation, is a Houston-based energy company primarily engaged in construction and development activities related to the liquefaction of natural gas and sale of LNG. We are constructing and developing a natural gas liquefaction and export facility located in the Rio Grande Valley near Brownsville, Texas (the "Rio Grande LNG Facility"). The first five liquefaction trains and related infrastructure (together, "Phase 1", "Train 4", and "Train 5") at the Rio Grande LNG Facility are currently under construction. We are also developing and advancing the permitting process for expansion Trains 6 through 8 and exploring a potential carbon capture and storage ("CCS") project at the Rio Grande LNG Facility.

Last close 6.29 2026-10-23
Market cap $1.67B 2026-06-30 share count
52-week range 4.75 - 9.24

Valuation FY2025 figures against the last close

P/S—
P/E—
P/FCF—
EV/EBITDA—
Dividend yield—
Diluted EPS-1.17

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $0$0$0$0$0$0$0$0$0$0
R&D $8.0M$8.3M$4.9M$4.1M——————
SG&A $202.3M$150.1M$111.5M$49.1M———$35.2M$34.6M$7.3M
Total operating expenses $225.9M$171.1M$122.7M$54.5M$19.5M$22.0M$35.0M$43.0M$35.6M$8.5M
Operating income -$225.9M-$171.1M-$122.7M-$54.5M-$19.5M-$22.0M-$35.0M-$43.0M-$35.6M-$8.5M
Interest expense $170.0M$87.5M$50.3M$0—————$254.9K
Pre-tax income -$306.4M——-$84.4M-$40.4M-$14.3M-$35.9M-$42.0M——
Income tax $0——$0$0$0$0$0——
Net income -$306.4M-$61.8M-$182.7M-$84.4M-$40.4M-$14.3M-$35.9M-$42.0M-$35.3M-$8.4M
EPS, basic -1.17-0.24-0.94-0.65-0.34—————
EPS, diluted -1.17-0.24-0.94-0.65-0.34-0.24-0.45-0.41-0.35-0.09
Shares, diluted (wtd. avg.) 262.2M258.5M194.6M130.1M119.2M117.5M109.1M106.6M100.9M95.7M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $143.8M$148.1M$294.5M$62.8M$25.6M$22.6M$15.7M$3.2M$35.7M$12.5M
Short-term investments —————$0$62.2M$72.5M$5.1M—
Total current assets $718.0M$412.6M$314.5M$63.9M$26.4M$23.3M$78.8M$76.9M$42.9M$19.2M
Property, plant and equipment $10.57B$5.02B$2.44B$218.6M$173.8M$161.7M$134.6M$92.1M$73.2M$56.2M
Total assets $12.43B$6.40B$3.32B$312.4M$222.1M$201.7M$221.2M$169.0M$116.1M$75.8M
Accounts payable $443.9M$244.6M$243.1M$1.1M$281.0K$207.0K$11.9M$719.0K$726.0K$1.2M
Total current liabilities $1.34B$595.1M$552.4M$25.4M$8.2M$5.1M$21.5M$12.1M$8.4M$4.9M
Long-term debt $8.51B$3.92B$1.82B$0——————
Total liabilities $10.12B$4.66B$2.58B$55.6M$33.8M$28.9M$33.6M$19.5M$13.0M$7.7M
Retained earnings -$760.0M-$453.5M-$391.8M-$230.1M-$170.1M-$148.0M-$133.7M-$97.6M-$55.6M-$20.3M
Total equity $95.3M$377.6M$740.4M$54.4M$19.9M$60.4M$89.7M$83.2M$103.1M$68.1M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow -$169.4M-$95.6M-$73.6M-$40.1M-$18.0M-$26.3M-$40.7M-$23.3M-$12.8M-$7.2M
Depreciation and amortisation $1.8M$1.9M$168.0K$162.0K$184.0K$196.0K$251.0K$171.0K$106.0K$100.0K
Stock-based compensation $39.2M$19.9M$26.6M$7.5M-$4.3M-$341.0K-$9.6M$16.8M$22.7M—
Capital expenditure $4.85B$2.57B$1.74B$33.8M$12.1M$32.4M$20.3M$18.7M$14.8M$19.4M
Investing cash flow -$4.85B-$2.57B-$1.75B-$40.9M-$18.5M$18.5M-$16.7M-$86.2M$11.9M-$24.4M
Financing cash flow $5.34B$2.77B$2.06B$118.2M$39.4M$14.6M$70.0M$76.9M$24.1M$60.0K
Buybacks $16.9M$6.7M$9.6M$3.3M$284.0K$346.0K$650.0K$35.0K——

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001612720-26-000018.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -400M -300M -200M -100M 0 Revenue, FY2016: 0 Net income, FY2016: -8.4M Revenue, FY2017: 0 Net income, FY2017: -35.3M Revenue, FY2018: 0 Net income, FY2018: -42M Revenue, FY2019: 0 Net income, FY2019: -35.9M Revenue, FY2020: 0 Net income, FY2020: -14.3M Revenue, FY2021: 0 Net income, FY2021: -40.4M Revenue, FY2022: 0 Net income, FY2022: -84.4M Revenue, FY2023: 0 Net income, FY2023: -182.7M Revenue, FY2024: 0 Net income, FY2024: -61.8M Revenue, FY2025: 0 Net income, FY2025: -306.4M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Gross profit — — — — — — — — — —
Net income -$8.4M -$35.3M -$42.0M -$35.9M -$14.3M -$40.4M -$84.4M -$182.7M -$61.8M -$306.4M

Recent filings and events

  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
  • Material agreement signed Item 1.01
  • New debt or obligation Item 2.03
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Officer or director change Item 5.02
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Material agreement signed Item 1.01
  • New debt or obligation Item 2.03
  • Unregistered share sale Shares issued outside a registered offering. Dilution, and for a small company often the way it is funded. Item 3.02
  • Material agreement signed Item 1.01
  • New debt or obligation Item 2.03

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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