Nextpower
NXT · NasdaqSemiconductors & Related Devices · Fiscal year ends Mar 31
Nextpower reported revenue of $3.6B in the fiscal year ended Mar 2026, up 20.3% from the year before. Operating income was $697M, an operating margin of 19.6%, and net income was $586M. Operating cash flow of $563M less capital expenditure of $49M left free cash flow of $514M.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Revenue | $1.5B | $1.9B | $2.5B | $3B | $3.6B |
| Cost of revenue | $1.3B | $1.6B | $1.7B | $2B | $2.4B |
| Gross profit | $147M | $287M | $813M | $1B | $1.2B |
| Research & development | $14M | $22M | $42M | $79M | $121M |
| Selling, general & admin | $67M | $97M | $184M | $290M | $342M |
| Operating income | $66M | $168M | $587M | $639M | $697M |
| Pre-tax income | $65M | $169M | $608M | $648M | $714M |
| Income tax | $14M | $48M | $112M | $131M | $128M |
| Net income | $0 | $1M | $306M | $509M | $586M |
| Diluted EPS | – | 0.02 | 3.37 | 3.47 | 3.84 |
| Diluted shares | – | 146M | 147M | 149M | 153M |
Balance sheet
| Fiscal year | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Cash & equivalents | $29M | $130M | $474M | $766M | $1.1B |
| Receivables | $168M | $271M | $383M | $472M | $417M |
| Inventory | $172M | $138M | $202M | $209M | $262M |
| Current assets | $714M | $872M | $1.8B | $2.2B | $2.8B |
| Net PP&E | $7M | $7M | $9M | $60M | $78M |
| Goodwill | $265M | $265M | $265M | $371M | $489M |
| Total assets | $1B | $1.4B | $2.5B | $3.2B | $4.1B |
| Payables | $267M | $211M | $457M | $585M | $533M |
| Deferred revenue | $78M | $176M | $226M | $247M | $307M |
| Current liabilities | $473M | $507M | $891M | $1B | $1.2B |
| Short-term debt | – | – | $4M | $0 | – |
| Long-term debt | $0 | $147M | $144M | $0 | – |
| Total liabilities | $516M | $935M | $1.5B | $1.6B | $1.7B |
| Shareholders' equity | $0 | −$3.1B | $992M | $1.6B | $2.3B |
| Backlog (remaining obligations) | – | $212M | $295M | $344M | $410M |
Cash flow
| Fiscal year | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Operating cash flow | −$147M | $108M | $429M | $656M | $563M |
| Capital expenditure | $6M | $3M | $6M | $34M | $49M |
| Free cash flow | −$153M | $104M | $423M | $622M | $514M |
| Depreciation & amortisation | $11M | $5M | $4M | $13M | $31M |
| Stock-based compensation | $3M | $32M | $57M | $119M | $120M |
| Acquisitions | – | $0 | $0 | $145M | $117M |
| Share buybacks | $0 | $694M | $0 | $0 | $395,000 |
Key ratios
| Fiscal year | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 30.5% | 31.4% | 18.4% | 20.3% |
| Operating income growth (YoY) | – | 155.6% | 248.5% | 8.9% | 9.1% |
| EPS growth (YoY) | – | – | 16750.0% | 3.0% | 10.7% |
| Gross margin | 10.1% | 15.1% | 32.5% | 34.1% | 32.6% |
| Operating margin | 4.5% | 8.9% | 23.5% | 21.6% | 19.6% |
| Net margin | 0.0% | 0.1% | 12.3% | 17.2% | 16.5% |
| Return on equityBlank when equity is negative | – | – | 30.9% | 31.3% | 25.1% |
| ROCEEBIT ÷ (assets − current liabilities) | 12.1% | 18.5% | 36.1% | 29.6% | 24.0% |
| Free cash flow margin | −10.5% | 5.5% | 16.9% | 21.0% | 14.4% |
| Cash conversion (CFO ÷ net income) | – | 94.2x | 1.40x | 1.29x | 0.96x |
| Receivable days | 42 | 52 | 56 | 58 | 43 |
| Inventory days | 48 | 31 | 44 | 39 | 40 |
| Payable days | 74 | 48 | 99 | 110 | 81 |
| Debt ÷ equity | – | – | 0.15x | 0.00x | – |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | −$29M | $17M | −$326M | −$766M | – |
| Current ratio | 1.51x | 1.72x | 1.98x | 2.09x | 2.45x |
Recent filings
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Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.