Nextracker Inc.

Industrials
Industrial Machinery/Components
www.nextracker.com

Earnings Score
Moat Score
Safety Score

Market Cap $5.18B
PE 11
Debt $146.13M
Cash $561.88M
EV $4.77B
FCF $431.27M

Earnings

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Sales & Net Margins

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Earnings	$483.65M
EBIT	$733.59M
ROE	38%
ROA	26%
FCF	$431.27M
Equity	$1.28B
Growth Stability	100%
PE	10.71
PEG	0.02
PB	4.04
P/FCF	12.01
P/S	1.85
Price/Cash	0.11
Debt/Equity	0.11
Debt/FCF	0.34
Net Margins	17%
Gross Margins	36%
Op. Margins	26%
Earnings CAGR	528%
Sales Growth YoY	11%
Sales Growth QoQ	-12%
Sales CAGR	41%
FCF CAGR	150%
Equity CAGR	27%
Earnings Stability	-0.62
Earnings Growth YoY	194%
Earnings Growth QoQ	-5%

Earnings CAGR 5Y	528%
Sales CAGR 5Y	41%
FCF CAGR 5Y	150%
Equity CAGR 5Y	27%
Earnings CAGR 3Y	44%
Sales CAGR 3Y	44%
FCF CAGR 3Y	198%
Equity CAGR 3Y	42%
Market Cap	$5.18B
Revenue	$2.80B
Assets	$2.77B
Total Debt	$146.13M
Cash	$561.88M
Shares Outstanding	142.79M
EV	4.77B
Earnings Score	6%
Moat Score	97%
Safety Score	97%
Final Score	67%
Working Capital	978.46M
Current Ratio	2.21
Gross Profit	$1.01B
Shares Growth 3y	27%
Equity Growth QoQ	13%
Equity Growth YoY	-149%

Assets & ROA

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Stockholders Equity & ROE

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Nextracker Inc., an energy solutions company, provides solar tracker solutions for PV projects. The company offers solar trackers, such as Bifacial PV modules for large-scale solar; NX Horizon for solar power plants; NX Gemini two-in-portrait solar tracker that optimizes lifetime value and performance of power plants for project developers and asset owners; and NX Horizon XTR, an all-terrain solar tracker. It also provides TrueCapture, an intelligent and self-adjusting tracker control system for PV power plants; and NX Navigator, an operational control and risk mitigation software. The company was incorporated in 2013 and is based in Fremont, California. Nextracker Inc. operates as a subsidiary of Flex Ltd.

SEC Filings

Direct access to Nextracker Inc. (NXT) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Sep 27
- 10-Q Jun 28
- 10-K Mar 31
2023
- 10-Q Dec 31
- 10-Q Sep 29
- 10-Q Jun 30
- 10-K Mar 31
2022
- 10-Q Dec 31

Sector Comparison

How does Nextracker Inc. compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Nextracker Inc. compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 528%

Stability -62%

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Nextracker Inc. Discounted Cash Flow

Fully customizable DCF calculator online for Nextracker Inc..

Years

Calculation mode

= $19T

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$431M	$1.1B	$2.7B	$6.8B	$17B	$42B	$106B	$265B	$663B	$1.7T	$4.2T	$42T
DCF		$981M	$2.2B	$5.1B	$12B	$26B	$60B	$136B	$309B	$704B	$1.6T	$16T
Value	$19T

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	03/2021	03/2022	03/2023	03/2024	TTM
Net Margins	0%	0%	0%	12%	17%
ROA	-	-	12%	24%	26%
ROE	-	-	-0%	31%	38%

Good Net Margins (17.49%)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	03/2021	03/2022	03/2023	03/2024	TTM
Debt over FCF	-	-	1.44	0.36	0.34
Debt over Equity	-	-	-0.05	0.15	0.11
Growth Stability	-	-	-	100%	100%

Good Debt/FCF ratio (0.34)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Good Debt/Equity ratio (0.11)

The company is not overleveraged and has a good balance between equity and debt.

Good Graham’s Stability (100%)

The company has a good stability in its earnings, which is a sign of a good competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	03/2021	03/2022	03/2023	03/2024	CAGR 5Y
Revenue YoY growth	-	22%	30%	31%	41%
Earnings YoY growth	-	-	-	27K%	528%
Equity YoY growth	-	-100%	-	-132%	27%
FCF YoY growth	-	-267%	-168%	305%	150%