Skip to Content

NEXTracker Inc Ordinary Shares - Class A NXT

Morningstar Rating
$57.60 −1.28 (2.17%)
View Full Chart
Unlock our analysis with Morningstar Investor

Company Report

Nextracker Earnings: Another Beat and Raise, but Expectations Are Increasingly High

We increase our fair value estimate for no-moat Nextracker to $37 per share from $34 after fiscal 2024 third-quarter results. Driving our higher valuation is a slight boost to our gross margin forecast. However, we continue to forecast moderating margins long term. At current prices, we view shares as overvalued as we believe investors are extrapolating recent margin outperformance to continue indefinitely.

Price vs Fair Value

NXT is trading at a 56% premium.
Price
$57.60
Fair Value
$39.00
Uncertainty
Very High
1-Star Price
$15.23
5-Star Price
$55.60
Economic Moat
Pnv
Capital Allocation
Gfhfdgwv

Bulls Say, Bears Say

Bulls

Nextracker’s best-in-class independent row tracker system, aligns its optimized energy yields with developer’s long-term project economics.

Bears

Cost-sensitive EPCs, which account for 75% of Nextracker’s customers, exhibit limited stickiness with tracker companies.

Is it the right time to buy, sell, or hold?
Start a free trial of Morningstar Investor to unlock exclusive ratings and continuous analyst coverage to help you decide if NXT is a good fit for your portfolio.

News

Trading Information

Previous Close Price
$58.88
Day Range
$56.5158.39
52-Week Range
$28.2461.45
Bid/Ask
$57.85 / $58.54
Market Cap
$7.86 Bil
Volume/Avg
2,655 / 3.8 Mil

Key Statistics

Price/Earnings (Normalized)
1.42
Price/Sales
1.52
Dividend Yield (Trailing)
Dividend Yield (Forward)
Total Yield

Company Profile

Nextracker (and its subsidiaries) is a leading provider of intelligent, integrated solar tracker and software solutions used in utility-scale and distributed generation solar projects around the world. Nextracker’s products enable solar panels in utility-scale power plants to follow the sun’s movement across the sky and optimize plant performance. Nextracker has operations in the United States, Mexico, Spain and other countries in Europe, India, Australia, the Middle East, Africa, and Brazil.
Sector
Technology
Industry
Solar
Stock Style Box
Small Core
Total Number of Employees
606

Competitors

Valuation

Metric
NXT
SEDG
SHLS
Price/Earnings (Normalized)
1.4210.5547.07
Price/Book Value
1.885.26
Price/Sales
1.521.387.35
Price/Cash Flow
9.5010.6023.10
Price/Earnings
NXT
SEDG
SHLS

Financial Strength

Metric
NXT
SEDG
SHLS
Quick Ratio
1.432.371.74
Current Ratio
1.873.842.54
Interest Coverage
7.23
Quick Ratio
NXT
SEDG
SHLS

Profitability

Metric
NXT
SEDG
SHLS
Return on Assets (Normalized)
21.56%8.91%15.99%
Return on Equity (Normalized)
16.92%30.59%
Return on Invested Capital (Normalized)
56.89%11.35%22.74%
Return on Assets
NXT
SEDG
SHLS
See how this stock stacks up to its competitors with Morningstar Investor

Solar Industry Comparables

Ticker
Name
Morningstar Rating for Stocks
Economic Moat
Market Cap
ENPH
Enphase Energy IncYxrn$17.1 Bil
FSLR
First Solar IncTnw$16.0 Bil
XNYIF
Xinyi Solar Holdings LtdQlhz$4.5 Bil
XISHY
Xinyi Solar Holdings Ltd ADRZgy$4.5 Bil
SEDG
SolarEdge Technologies IncCjprm$4.2 Bil
GCPEF
GCL Technology Holdings LtdBxm$3.6 Bil
RUN
Sunrun IncSbbs$3.4 Bil
SHLS
Shoals Technologies Group Inc Ordinary Shares - Class ASbprd$2.6 Bil
SPWR
SunPower CorpFrnc$601.5 Mil

Sponsor Center