NEXT NextDecade Corporation - Common Stock
NASDAQ · Energy · View on SEC EDGAR ↗ close Oct 2, 2026 10-K/10-Q Jul 30, 2026
$6.48
· of 52w range
· above low
· to high
$4.7652w low
$9.2452w high
Market Cap (MRQ)
$1.72B
P/E (TTM)
-4.8
EPS (TTM)
$-1.36
Revenue (TTM)
$0
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52W Range
$5–$9
Analyst Rating
BUY
Price Target
$9
P/E
-4.8
ROE
-363.2%
Net Profit Margin
·
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NEXT Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$6.48
Market Cap (MRQ)
$1.72B
P/E (TTM)
-4.8
EPS (TTM)
$-1.36
Revenue (TTM)
$0
ROE (TTM)
-363.2%
Debt/Equity (MRQ)
-181.9
52W Range
$5–$9
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue$02016-12-31 → 2025-12-31
EPS$-1.172022-12-31 → 2025-12-31
Free Cash Flow$-5.02B2017-12-31 → 2025-12-31
Valuation & Ratios
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
| Metric | 5Y trend | NEXT | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| P/E (TTM) | -4.85Y avg ≈-12.3 | ≈-12.3 | · | · | |
| P/B (MRQ) | -30.05Y avg ≈10.0 | ≈10.0 | · | · | |
| Price / FCF (TTM) | -0.35Y avg ≈-5.6 | ≈-5.6 | · | · | |
| Price / Cash Flow (TTM) | -7.65Y avg ≈-18.6 | ≈-18.6 | · | · | |
| Price / Tangible Book | 5.35Y avg ≈10.0 | ≈10.0 | · | · |
Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.
Profitability Gross, operating and net margins; ROE, ROA, ROIC
| Metric | 5Y trend | NEXT | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| ROA (TTM) | -3.2%5Y avg ≈-8.8% | ≈-8.8% | 2.6% | Weak | |
| ROE (TTM) | -363.2%5Y avg ≈-83.7% | ≈-83.7% | 8.2% | Weak |
Financial Health Debt, liquidity, solvency — balance sheet strength
| Metric | 5Y trend | NEXT | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Debt / Equity (MRQ) | -181.95Y avg ≈35.3 | ≈35.3 | 0.4 | Low debt | |
| Current Ratio (MRQ) | 0.45Y avg ≈1.5 | ≈1.5 | 1.0 | Low liquidity | |
| Quick Ratio | 0.15Y avg ≈1.2 | ≈1.2 | 0.4 | Low liquidity | |
| Long-Term Debt / Equity (MRQ) | -181.95Y avg ≈35.3 | ≈35.3 | 0.3 | Low debt | |
| Interest Coverage | -1.35Y avg ≈-1.9 | ≈-1.9 | 1.7 | Low liquidity |
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
No data for this ratio group yet
Not enough fundamentals data to compute this ratio group yet.
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
| Metric | 5Y trend | NEXT | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Asset Turnover | 0.05Y avg ≈0.0 | ≈0.0 | 0.3 | Weak | |
| Revenue / Employee | ≈$0.00 | · | · | · |
value · ≈ 5Y avg · industry median · verdict relative to median
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
19.5%
Next Report
Oct 28, 2026
| Period | Report | EPS Actual | EPS Est | Surprise |
|---|---|---|---|---|
| June 30, 2026 | Jul 30, 2026 | $-0.25 | $-0.64 | 61.2% |
| March 31, 2026 | $-0.51 | $-0.67 | 24.1% | |
| Dec. 31, 2025 | $-0.18 | $-0.49 | 63.2% | |
| Sept. 30, 2025 | $-0.42 | $-0.43 | 1.8% | |
| June 30, 2025 | $-0.23 | $-0.23 | 0.22% | |
| March 31, 2025 | $-0.34 | $-0.26 | -33.3% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | · | $0 | $0 | $0 | |
| R&D Expense | $8M | $8M | $5M | $4M | · | · | · | · | · | · | · | |
| SG&A Expense | $202M | $150M | $111M | $49M | · | · | · | $35M | $35M | $7M | $7M | |
| Operating Expenses | $226M | $171M | $123M | $54M | $20M | $22M | $35M | $43M | $36M | $9M | $8M | |
| Operating Income | $-226M | $-171M | $-123M | $-54M | $-20M | $-22M | $-35M | $-43M | $-36M | $-9M | $-8M | |
| Interest Expense | $170M | $88M | $50M | $0 | · | · | · | · | · | · | · | |
| Other Non-op | $7M | $-1M | $6M | $151.0K | $1.0K | $-18.0K | $69.0K | $-128.0K | $-31.0K | $63.0K | $9.0K | |
| Income Tax | $0 | · | · | $0 | $0 | $0 | $0 | $0 | · | · | · | |
| Net Income | $-430M | $277M | $-222M | $-60M | $-22M | $-14M | $-36M | $-42M | $-35M | $-8M | $-8M | |
| EPS (Basic) | $-1.17 | $-0.24 | $-0.94 | $-0.65 | $-0.34 | · | · | · | · | · | · | |
| EPS (Diluted) | $-1.17 | $-0.24 | $-0.94 | $-0.65 | · | · | · | · | · | · | · | |
| Shares (Basic) | 262,164,000 | 258,535,000 | 194,595,000 | 130,136,000 | 119,201,000 | 117,524,000 | 109,057,000 | 106,564,000 | 100,926,000 | 95,680,000 | 55,226,000 | |
| Shares (Diluted) | 262,164,000 | 258,535,000 | 194,595,000 | 130,136,000 | 119,201,000 | 117,524,000 | 109,057,000 | 106,564,000 | 100,926,000 | 95,680,000 | 55,226,000 | |
| EBITDA | $-226M | $-171M | $-123M | $-54M | $-20M | $-22M | $-35M | · | $-36M | · | · |
Balance Sheet
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $144M | $148M | $38M | $63M | $26M | $23M | $16M | $3M | $36M | $13M | $27M | |
| Short-term Investments | · | · | · | · | · | · | · | · | $5M | $5M | · | |
| Prepaid Expense | $11M | $20M | $2M | $1M | $835.0K | $670.0K | $859.0K | $1M | $2M | $1M | · | |
| Other Current Assets | · | · | · | $107.0K | $314.0K | $267.0K | $381.0K | $349.0K | $181.0K | $145.0K | · | |
| Current Assets | $718M | $413M | $315M | $64M | $26M | $23M | $79M | $77M | $43M | $19M | · | |
| PP&E (Net) | $10.57B | $5.02B | $2.44B | $219M | $174M | $162M | $135M | $92M | $73M | $56M | · | |
| PP&E (Gross) | $10.57B | $5.02B | $2.44B | $220M | · | · | · | · | · | · | · | |
| Accum. Depreciation | $3M | $2M | $1M | $1M | · | · | · | · | · | · | · | |
| Other Non-current Assets | $22M | $16M | $11M | $28M | $21M | $16M | $7M | · | · | $349.0K | · | |
| Total Assets | $12.43B | $6.40B | $3.32B | $312M | $222M | $202M | $221M | $169M | $116M | $76M | · | |
| Accounts Payable | $444M | $245M | $243M | $1M | $281.0K | $207.0K | $12M | $719.0K | $726.0K | $1M | · | |
| Accrued Liabilities | $888M | $348M | $306M | $23M | · | · | · | · | · | · | · | |
| Current Liabilities | $1.34B | $595M | $552M | $25M | $8M | $5M | $22M | $12M | $8M | $5M | · | |
| Capital Leases | $142M | $144M | $146M | $465.0K | $0 | $0 | $3.0K | · | · | · | · | |
| Other Non-current Liabilities | · | $0 | $2M | $23M | $23M | $23M | $0 | · | · | · | · | |
| Total Liabilities | $10.12B | $4.66B | $2.58B | $56M | $34M | $29M | $34M | $20M | $13M | $8M | · | |
| Long-term Debt | $8.83B | $4.04B | $1.82B | $0 | · | · | · | · | · | · | · | |
| Total Debt | $8.51B | $3.92B | $1.82B | · | · | · | · | · | · | · | · | |
| Common Stock | · | · | · | $14.0K | $12.0K | $12.0K | $12.0K | $11.0K | $11.0K | $10.0K | · | |
| Paid-in Capital | $893M | $852M | $694M | $289M | $191M | $209M | $224M | $181M | $159M | $88M | · | |
| Retained Earnings | $-760M | $-454M | $-392M | $-230M | $-170M | $-148M | $-134M | $-98M | $-56M | $-20M | · | |
| Treasury Stock | $38M | $21M | $14M | $5M | $1M | $1M | $685.0K | $35.0K | · | · | · | |
| AOCI | · | · | · | · | · | · | · | · | $-40.0K | $-27.0K | · | |
| Stockholders' Equity | $95M | $378M | $288M | $54M | $20M | $60M | $90M | $83M | $103M | $68M | $77M | |
| Liabilities + Equity | $12.43B | $6.40B | $3.32B | $312M | $222M | $202M | $221M | $169M | $116M | $76M | · | |
| Shares Outstanding | 264,800,000 | 260,200,000 | 256,500,000 | 143,500,000 | 120,800,000 | 117,800,000 | 117,300,000 | 106,900,000 | 106,300,000 | 95,700,000 | · |
Cash Flow
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $12M | $13M | $6M | · | · | · | · | · | · | · | · | |
| Stock-based Comp | $39M | $20M | $27M | $7M | $-4M | $-341.0K | $-10M | $17M | $23M | · | · | |
| Operating Cash Flow | $-169M | $-96M | $-74M | $-40M | $-18M | $-26M | $-41M | $-23M | $-13M | $-7M | $-6M | |
| CapEx | $4.85B | $2.57B | $1.74B | $34M | $12M | $32M | $20M | $19M | $15M | $19M | $33M | |
| Investing Cash Flow | $-4.85B | $-2.57B | $-1.75B | $-41M | $-19M | $19M | $-17M | $-86M | $12M | $-24M | $-33M | |
| Stock Issued | $0 | $0 | $254M | $115M | $557.0K | $0 | · | · | · | · | · | |
| Stock Repurchased | $17M | $7M | $10M | $3M | $284.0K | $346.0K | $650.0K | $35.0K | · | · | · | |
| Net Stock Activity | $-17M | $-7M | $245M | $112M | $273.0K | $-346.0K | $-650.0K | · | · | · | · | |
| Dividends Paid | · | · | · | · | · | · | · | · | · | · | $1M | |
| Financing Cash Flow | $5.34B | $2.77B | $2.06B | $118M | $39M | $15M | $70M | $77M | $24M | · | $83M | |
| Net Change in Cash | $314M | $98M | $232M | $37M | $3M | $7M | $13M | $-33M | $23M | $-32M | $44M | |
| Free Cash Flow | $-5.02B | $-2.66B | $-1.81B | $-74M | $-30M | $-59M | $-61M | · | $-28M | · | · |
Profitability
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROA | -4.6% | 5.7% | -12.2% | -22.5% | -10.4% | -6.8% | -18.4% | · | -36.8% | · | · | |
| ROE | -181.7% | 71.9% | -58.0% | -165.4% | -85.3% | -22.7% | -54.4% | · | -41.3% | · | · |
Liquidity & Solvency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.5 | 0.7 | 0.6 | 2.5 | 3.2 | 4.5 | 3.7 | · | 5.1 | · | · | |
| Quick Ratio | 0.1 | 0.2 | 0.1 | 2.5 | 3.1 | 4.4 | 0.7 | · | 4.9 | · | · | |
| Debt / Equity | 89.3 | 10.4 | 6.3 | · | · | · | · | · | · | · | · | |
| LT Debt / Equity | 89.3 | 10.4 | 6.3 | · | · | · | · | · | · | · | · | |
| Interest Coverage | -1.3 | -2.0 | -2.4 | · | · | · | · | · | · | · | · |
Efficiency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | · | · | 0.0 | · | · |
Per Share
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | · | $1.45 | $1.12 | $0.38 | $0.16 | $0.51 | $0.76 | · | $0.97 | · | · | |
| Revenue / Share | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | · | · | $0.00 | · | · | |
| Cash Flow / Share | $-0.65 | $-0.37 | $-0.38 | $-0.31 | $-0.15 | $-0.22 | $-0.37 | · | $-0.13 | · | · | |
| Cash / Share | · | $0.57 | $0.15 | $0.44 | $0.21 | $0.19 | $0.13 | · | $0.34 | · | · | |
| EPS (TTM) | $-1.17 | $-0.24 | $-0.94 | $-0.65 | · | · | · | · | · | · | · |
Valuation (TTM)
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Net Income TTM | $-430M | $277M | $-222M | $-60M | $-22M | $-14M | $-36M | $-42M | $-35M | $-8M | $-8M | |
| Market Cap | · | $2.01B | $1.22B | $709M | $344M | $246M | $720M | · | $884M | · | · | |
| Enterprise Value | · | $5.78B | $3.00B | · | · | · | · | · | · | · | · | |
| P/E | -4.5 | -32.1 | -5.1 | -7.6 | · | · | · | · | · | · | · | |
| P/B | · | 5.3 | 4.2 | 13.0 | 17.3 | 4.1 | 8.0 | · | 8.6 | · | · | |
| P / Tangible Book | · | 5.3 | 4.2 | 13.0 | 17.3 | 4.1 | · | · | · | · | · | |
| P / Cash Flow | · | -21.0 | -16.6 | -17.7 | -19.2 | -9.4 | -17.7 | · | -68.9 | · | · | |
| P / FCF | · | -0.8 | -0.7 | -9.6 | -11.5 | -4.2 | -11.8 | · | -32.0 | · | · | |
| EV / EBITDA | · | -33.8 | -24.5 | · | · | · | · | · | · | · | · | |
| EV / FCF | · | -2.2 | -1.7 | · | · | · | · | · | · | · | · | |
| Earnings Yield | -22.2% | -3.1% | -19.7% | -13.2% | · | · | · | · | · | · | · | |
| Annual Payout | · | · | · | · | · | · | · | · | · | · | $1M |
Income Statement
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| R&D Expense | $3M | $2M | $4M | $3M | $1M | $307.0K | $956.0K | $2M | $2M | $3M | $3M | $1M | $418.0K | $464.0K | · | · | |
| SG&A Expense | $30M | $50M | $39M | $66M | $37M | $45M | $40M | $44M | $34M | $33M | $26M | $32M | $27M | $26M | · | · | |
| Operating Expenses | $55M | $55M | $46M | $72M | $56M | $52M | $44M | $49M | $40M | $38M | $32M | $36M | $28M | $27M | $20M | $16M | |
| Operating Income | $-55M | $-55M | $-46M | $-72M | $-56M | $-52M | $-44M | $-49M | $-40M | $-38M | $-32M | $-36M | $-28M | $-27M | $-20M | $-16M | |
| Interest Expense | $91M | $79M | $71M | $40M | $32M | $27M | $20M | $16M | $26M | $25M | $18M | $33M | $0 | $0 | $0 | $0 | |
| Interest Income | · | · | · | · | · | · | · | · | · | · | · | $966.0K | · | · | · | $0 | |
| Other Non-op | $2M | $1M | $6M | $-20.0K | $1M | $3M | $-758.0K | $2M | $-1M | $-1M | $830.0K | $10M | $-5M | $130.0K | $65.0K | $65.0K | |
| Income Tax | $0 | $0 | · | · | $0 | $0 | · | $0 | $0 | $0 | · | $0 | $0 | $0 | · | $0 | |
| Net Income | $-60M | $-195M | $71M | $-185M | $-71M | $-245M | $481M | $-393M | $2M | $187M | $-256M | $182M | $-120M | $-27M | $-19M | $-19M | |
| EPS (Basic) | $-0.25 | $-0.51 | $-0.18 | $-0.42 | $-0.23 | $-0.34 | $0.25 | $-0.47 | $-0.13 | $0.11 | $-0.35 | $0.48 | $-0.84 | $-0.23 | $-0.19 | $-0.19 | |
| EPS (Diluted) | $-0.25 | $-0.51 | $-0.18 | $-0.42 | $-0.23 | $-0.34 | $0.25 | $-0.47 | $-0.13 | $0.11 | $-0.35 | $0.48 | $-0.84 | $-0.23 | $-0.18 | $-0.19 | |
| Shares (Basic) | 265,043,000 | 264,908,000 | · | 262,581,000 | 260,877,000 | 260,405,000 | · | 259,379,000 | 257,842,000 | 256,707,000 | · | 222,466,000 | 150,933,000 | 146,931,000 | · | 129,418,000 | |
| Shares (Diluted) | 265,387,000 | 264,908,000 | · | 262,581,000 | 260,877,000 | 260,405,000 | · | 259,379,000 | 257,842,000 | 266,886,000 | · | 222,466,000 | 150,933,000 | 146,931,000 | · | 129,418,000 | |
| EBITDA | $-55M | $-55M | · | $-72M | $-56M | $-52M | · | $-49M | $-40M | $-38M | · | $-36M | $-28M | $-27M | · | $-16M |
Balance Sheet
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $84M | $143M | $144M | $209M | $159M | $131M | $148M | $38M | $38M | $46M | · | $51M | $40M | $51M | $63M | $109M | |
| Prepaid Expense | $120M | $9M | $11M | $10M | $7M | $4M | $20M | $1M | $2M | $3M | · | $2M | $13M | $2M | $1M | $1M | |
| Other Current Assets | · | · | · | · | · | · | · | · | · | · | · | $126.0K | $259.0K | $468.0K | · | $547.0K | |
| Current Assets | $632M | $488M | $718M | $765M | $477M | $405M | $413M | $271M | $224M | $284M | · | $469M | $53M | $53M | $64M | $111M | |
| PP&E (Net) | $13.08B | $11.66B | $10.57B | $8.47B | $6.59B | $5.70B | $5.02B | $4.33B | $3.73B | $3.16B | · | $1.71B | $266M | $244M | $219M | $183M | |
| PP&E (Gross) | · | $11.67B | $10.57B | $8.47B | $6.59B | $5.70B | $5.02B | $4.33B | $3.73B | $3.16B | · | · | · | · | $220M | · | |
| Accum. Depreciation | $4M | $3M | $3M | $2M | $2M | $2M | $2M | $1M | $751.0K | $259.0K | · | · | · | · | $1M | · | |
| Other Non-current Assets | $67M | $50M | $22M | $36M | $49M | $25M | $16M | $16M | $16M | $17M | · | $11M | $32M | $30M | $28M | $26M | |
| Total Assets | $15.21B | $13.23B | $12.43B | $10.01B | $7.86B | $6.89B | $6.40B | $5.12B | $4.76B | $4.18B | · | $2.90B | $353M | $328M | $312M | $321M | |
| Accounts Payable | $327M | $298M | $444M | $429M | $312M | $257M | $245M | $224M | $132M | $175M | · | $327M | $13M | $2M | $1M | $5M | |
| Accrued Liabilities | $1.36B | $915M | $888M | $762M | $369M | $216M | $348M | $331M | $365M | $322M | · | · | · | · | $23M | · | |
| Current Liabilities | $1.69B | $1.21B | $1.34B | $1.19B | $684M | $476M | $595M | $558M | $500M | $506M | · | $551M | $45M | $35M | $25M | $17M | |
| Capital Leases | $119M | $118M | $142M | $143M | $143M | $144M | $144M | $145M | $145M | $145M | · | $146M | $331.0K | $395.0K | $465.0K | $143.0K | |
| Other Non-current Liabilities | · | · | · | · | · | · | · | · | · | · | · | $0 | $23M | $23M | $23M | $23M | |
| Total Liabilities | $12.39B | $10.87B | $10.12B | $8.03B | $6.00B | $5.17B | $4.66B | $4.08B | $3.48B | $3.04B | · | $2.08B | $157M | $62M | $56M | $48M | |
| Long-term Debt | · | · | $8.83B | · | · | · | · | $3.37B | $2.87B | $2.44B | · | $1.41B | · | · | · | · | |
| Total Debt | $10.42B | $9.36B | · | $6.61B | $5.17B | $4.55B | · | $3.32B | $2.83B | $2.39B | · | $1.38B | · | · | · | · | |
| Common Stock | · | · | · | · | · | · | · | · | · | · | · | $26.0K | $16.0K | $15.0K | · | $14.0K | |
| Paid-in Capital | $942M | $904M | $893M | $904M | $885M | $866M | $852M | $1.21B | $1.04B | $898M | · | $754M | $363M | $319M | $289M | $292M | |
| Retained Earnings | $-962M | $-896M | $-760M | $-713M | $-603M | $-542M | $-454M | $-519M | $-396M | $-363M | · | $-263M | $-378M | $-257M | $-230M | $-211M | |
| Treasury Stock | $38M | $38M | $38M | $36M | $21M | $21M | $21M | $21M | $14M | $14M | · | $14M | $5M | $5M | $5M | $4M | |
| Stockholders' Equity | $-57M | $-31M | $95M | $154M | $260M | $302M | $378M | $670M | $633M | $520M | · | $477M | $-20M | $57M | $54M | $76M | |
| Liabilities + Equity | $15.21B | $13.23B | $12.43B | $10.01B | $7.86B | $6.89B | $6.40B | $5.12B | $4.76B | $4.18B | · | $2.90B | $353M | $328M | $312M | $321M | |
| Shares Outstanding | 265,100,000 | 265,000,000 | · | 264,400,000 | 260,900,000 | 260,700,000 | · | 260,100,000 | 257,900,000 | 257,500,000 | · | 256,500,000 | 157,500,000 | 149,400,000 | 143,500,000 | 143,200,000 |
Cash Flow
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $8M | $3M | $3M | $3M | $393.0K | $3M | $3M | $3M | $3M | $3M | · | · | · | · | · | · | |
| Stock-based Comp | $5M | $5M | $12M | $13M | $7M | $7M | $6M | $5M | $4M | $4M | $4M | $10M | $11M | $2M | $4M | $3M | |
| Operating Cash Flow | $-17M | $-111M | $-21M | $-76M | $-4M | $-69M | $-9M | $-64M | $6M | $-29M | $-21M | $-11M | $-18M | $-23M | $-12M | $-10M | |
| CapEx | $981M | $1.18B | $1.99B | $1.36B | $732M | $770M | $695M | $505M | $578M | $775M | $741M | $944M | $31M | $22M | $28M | $3M | |
| Investing Cash Flow | $-1.03B | $-1.18B | $-1.97B | $-1.35B | $-752M | $-779M | $-695M | $-505M | $-578M | $-781M | $-742M | $-954M | $-33M | $-23M | $-30M | $-5M | |
| Stock Issued | · | · | · | · | · | · | $0 | $0 | $0 | $0 | $0 | $179M | $40M | $35M | $0 | $85M | |
| Stock Repurchased | $0 | $18.0K | $1M | $15M | $42.0K | $49.0K | $125.0K | $6M | $59.0K | $94.0K | $20.0K | $10M | $23.0K | $47.0K | $460.0K | $1M | |
| Net Stock Activity | · | $-18.0K | · | · | · | $-49.0K | · | · | · | $-94.0K | · | · | · | $35M | · | · | |
| Financing Cash Flow | $1.08B | $1.05B | $1.96B | $1.71B | $827M | $842M | $830M | $632M | $524M | $766M | $612M | $1.37B | $40M | $35M | $-4M | $84M | |
| Net Change in Cash | $35M | $-242M | $-38M | $288M | $71M | $-7M | $127M | $63M | $-48M | $-43M | $-151M | $406M | $-11M | $-12M | $-46M | $69M | |
| Free Cash Flow | · | $-1.29B | · | · | · | $-839M | · | · | · | $-803M | · | · | · | $-45M | · | · |
Profitability
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROA | -0.52% | -1.9% | · | · | · | -4.4% | · | · | · | 8.3% | · | 11.3% | -40.3% | -10.0% | · | -6.8% | |
| ROE | -59.2% | -143.5% | · | · | · | -59.6% | · | · | · | 64.8% | · | 65.7% | 17123.0% | -96.5% | · | -34.8% |
Liquidity & Solvency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.4 | 0.4 | · | 0.6 | 0.7 | 0.9 | · | 0.5 | 0.4 | 0.6 | · | 0.9 | 1.2 | 1.5 | · | 6.5 | |
| Quick Ratio | 0.0 | 0.1 | · | 0.2 | 0.2 | 0.3 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.9 | 1.5 | · | 6.4 | |
| Debt / Equity | -181.9 | -304.7 | · | 42.8 | 19.9 | 15.0 | · | 4.9 | 4.5 | 4.6 | · | 2.9 | · | · | · | · | |
| LT Debt / Equity | -181.9 | -304.7 | · | 42.8 | 19.9 | 15.0 | · | 4.9 | 4.5 | 4.6 | · | 2.9 | · | · | · | · | |
| Interest Coverage | -0.6 | -0.7 | · | -1.8 | -1.8 | -1.9 | · | -3.1 | -1.5 | -1.5 | · | -1.1 | · | · | · | · |
Efficiency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 |
Per Share
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $-0.22 | $-0.12 | · | $0.58 | $1.00 | $1.16 | · | $2.58 | $2.45 | $2.02 | · | $1.86 | $-0.12 | $0.38 | · | $0.53 | |
| Revenue / Share | $0.00 | $0.00 | · | $0.00 | $0.00 | $0.00 | · | $0.00 | $0.00 | $0.00 | · | $0.00 | $0.00 | $0.00 | · | $0.00 | |
| Cash Flow / Share | · | $-0.42 | · | · | · | $-0.26 | · | · | · | $-0.11 | · | · | · | $-0.16 | · | · | |
| Cash / Share | $0.32 | $0.54 | · | $0.79 | $0.61 | $0.50 | · | $0.15 | $0.15 | $0.18 | · | $0.20 | $0.25 | $0.34 | · | $0.76 | |
| EPS (TTM) | $-1.36 | $-1.34 | · | $-0.74 | $-0.79 | $-0.69 | · | $-0.84 | $0.11 | $-0.60 | · | $-0.77 | $-1.44 | · | · | · |
Valuation (TTM)
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $0 | $0 | · | $0 | $0 | $0 | · | $0 | $0 | $0 | · | $0 | $0 | $0 | · | $0 | |
| Net Income TTM | $-369M | $-379M | · | $-19M | $-227M | $-155M | · | $-460M | $115M | $-8M | · | $15M | $-185M | $-76M | · | $-49M | |
| Market Cap | $2.00B | $2.03B | · | $1.80B | $2.32B | $2.03B | · | $1.23B | $2.05B | $1.46B | · | $1.31B | $1.29B | $743M | · | $862M | |
| Enterprise Value | $12.33B | $11.24B | · | $8.20B | $7.34B | $6.45B | · | $4.50B | $4.84B | $3.81B | · | $2.64B | · | · | · | · | |
| P/E | -5.5 | -5.7 | · | -9.2 | -11.3 | -11.3 | · | -5.6 | 72.2 | -9.5 | · | -6.6 | -5.7 | · | · | · | |
| P/B | -34.9 | -66.1 | · | 11.6 | 8.9 | 6.7 | · | 1.8 | 3.2 | 2.8 | · | 2.8 | -65.7 | 13.1 | · | 11.3 | |
| P / Tangible Book | · | · | · | 11.6 | 8.9 | 6.7 | · | 1.8 | 3.2 | 2.8 | · | 2.8 | · | 13.1 | · | 11.3 | |
| P / Cash Flow | · | -18.3 | · | · | · | -29.5 | · | · | · | -50.7 | · | · | · | -32.0 | · | · | |
| Earnings Yield | -18.0% | -17.5% | · | -10.9% | -8.9% | -8.9% | · | -17.8% | 1.4% | -10.6% | · | -15.0% | -17.5% | · | · | · |
Most recent period on the left · null values shown as ·
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $0 |
| Net Income | $-430M | $277M | $-222M | $-60M | $-22M |
| Diluted EPS | $-1.17 | $-0.24 | $-0.94 | $-0.65 | · |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Debt / Equity | 89.3 | 10.4 | 6.3 | · | · |
| Current Ratio | 0.5 | 0.7 | 0.6 | 2.5 | 3.2 |
| Quick Ratio | 0.1 | 0.2 | 0.1 | 2.5 | 3.1 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Free Cash Flow | $-5.02B | $-2.66B | $-1.81B | $-74M | $-30M |
Institutional owners (13F) 252 filers · $1.1B total · As of Sept. 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Holders
252
Value held
$1.1B
New positions
44
Exited positions
33
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 44 (-28 vs prior Q) | 33 (0 vs prior Q) | 99 (+10 vs prior Q) | 56 (+10 vs prior Q) | -3.1M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| BlackRock, Inc. | $179,608,214 | 23,820,718 | 16.09% | Shares |
| Mubadala Investment Co PJSC | $107,116,075 | 14,206,376 | 9.60% | Shares |
| Man Investment Partners (US) LP | $69,932,701 | 9,274,894 | 6.27% | Shares |
| BARDIN HILL MANAGEMENT PARTNERS LP | $62,976,530 | 9,274,894 | 5.64% | Shares |
| VANGUARD GROUP INC | $48,593,869 | 9,220,848 | 4.35% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $41,698,718 | 5,530,334 | 3.74% | Shares |
| Catalyst Capital Advisors LLC | $39,333,104 | 5,216,592 | 3.52% | Shares |
| CITADEL ADVISORS LLC | $34,466,848 | 4,571,200 | 3.09% | Call option |
| VALINOR MANAGEMENT, L.P. | $32,151,091 | 4,735,065 | 2.88% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $32,061,428 | 4,251,461 | 2.87% | Shares |
| York Capital Management Global Advisors, LLC | $28,954,583 | 4,264,298 | 2.59% | Shares |
| STATE STREET CORP | $28,647,974 | 3,799,466 | 2.57% | Shares |
| JANE STREET GROUP, LLC | $21,835,840 | 2,896,000 | 1.96% | Call option |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $18,724,097 | 2,483,302 | 1.68% | Shares |
| MILLENNIUM MANAGEMENT LLC | $16,997,595 | 2,254,323 | 1.52% | Shares |
| NEOS Investment Management LLC | $16,273,009 | 2,158,224 | 1.46% | Shares |
| HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC | $16,066,232 | 2,130,800 | 1.44% | Shares |
| Balyasny Asset Management L.P. | $15,080,000 | 2,000,000 | 1.35% | Call option |
| Balyasny Asset Management L.P. | $14,529,248 | 1,926,956 | 1.30% | Shares |
| BANK OF AMERICA CORP /DE/ | $14,415,492 | 1,911,869 | 1.29% | Shares |
| Kestra Advisory Services, LLC | $11,038,914 | 1,464,047 | 0.99% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $11,017,214 | 1,461,169 | 0.99% | Shares |
| WESTWOOD HOLDINGS GROUP INC | $10,650,318 | 1,412,509 | 0.95% | Shares |
| NORTHERN TRUST CORP | $10,100,238 | 1,339,554 | 0.90% | Shares |
| JPMORGAN CHASE & CO | $9,975,030 | 1,349,621 | 0.89% | Shares |
| PEAK6 LLC | $9,829,898 | 1,303,700 | 0.88% | Call option |
| Caption Management, LLC | $9,545,640 | 1,266,000 | 0.86% | Call option |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $9,332,168 | 1,237,688 | 0.84% | Shares |
| Freshford Capital Management, LLC | $8,903,776 | 1,180,872 | 0.80% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $7,570,160 | 1,004,000 | 0.68% | Call option |
| Yaupon Capital Management LP | $7,569,459 | 1,003,907 | 0.68% | Shares |
| SL ADVISORS, LLC | $7,560,358 | 986,992 | 0.68% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $7,068,675 | 937,490 | 0.63% | Shares |
| MORGAN STANLEY | $6,854,267 | 909,054 | 0.61% | Shares |
| JANE STREET GROUP, LLC | $6,494,202 | 861,300 | 0.58% | Put option |
| AQR CAPITAL MANAGEMENT LLC | $6,156,938 | 816,570 | 0.55% | Shares |
| Nuveen, LLC | $5,769,412 | 765,174 | 0.52% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $4,444,830 | 589,500 | 0.40% | Put option |
| Sourcerock Group LLC | $4,058,254 | 538,230 | 0.36% | Shares |
| VIKING FUND MANAGEMENT LLC | $3,770,000 | 500,000 | 0.34% | Shares |
| NOMURA HOLDINGS INC | $3,770,000 | 500,000 | 0.34% | Call option |
| Bank of New York Mellon Corp | $3,613,010 | 479,179 | 0.32% | Shares |
| CITADEL ADVISORS LLC | $3,411,850 | 452,500 | 0.31% | Put option |
| Caption Management, LLC | $3,189,420 | 423,000 | 0.29% | Put option |
| LPL Financial LLC | $3,001,650 | 398,097 | 0.27% | Shares |
| UBS Group AG | $2,913,102 | 386,353 | 0.26% | Shares |
| Man Group plc | $2,895,270 | 383,988 | 0.26% | Shares |
| GOLDMAN SACHS GROUP INC | $2,860,254 | 379,344 | 0.26% | Shares |
| Empowered Funds, LLC | $2,852,035 | 378,254 | 0.26% | Shares |
| Wolf Hill Capital Management, LP | $2,826,716 | 374,896 | 0.25% | Shares |
Activists & 5%+ owners 9 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| GASC GP, LLC, General Atlantic Partners, L.P., GAP Holdings GP, LLC, Atlantic Park UGP, LLC, Atlantic Park Strategic Capital Fund II GP, L.P., Atlantic Park Strategic Capital Master Fund II, L.P., Atlantic Park Strategic Capital Parallel Master Fund II, L.P., APSC II Holdco I, L.P., APSC II Holdco II, L.P. | June 10, 2026 | 5.90% | Initial filing | Passive investment | SEC |
| HGC NEXT INV LLC, Hanwha Impact Partners Inc., Hanwha Impact Global Corporation, Hanwha Aerospace Co., Ltd., Hanwha Ocean USA International LLC, Hanwha Ocean USA Holdings Corp., Hanwha Ocean Co., Ltd. ×6 filings | Dec. 11, 2025 | 9.70% | Amendment | · | SEC |
| VALINOR CAPITAL PARTNERS, L.P., VALINOR CAPITAL PARTNERS OFFSHORE MASTER FUND, L.P., Valinor Associates, LLC, VALINOR MANAGEMENT, L.P., Gallo David ×12 filings | May 15, 2025 | 4.98% | Amendment | · | SEC |
| York Capital Management Global Advisors, LLC ×19 filings | July 29, 2024 | · | Initial filing | · | SEC |
| Halcyon Mount Bonnell Fund LP, HCN LP, HCN GP LLC, Halcyon Energy, Power and Infrastructure Capital Holdings LLC, First Series of HDML Fund I LLC, Bardin Hill Fund GP LLC, Bardin Hill Event-Driven Master Fund LP, Avinash Kripalani, Jason Dillow, John Greene, Pratik Desai, Bardin Hill Investment Partners LP ×14 filings | Oct. 6, 2023 | · | Initial filing | · | SEC |
| Mubadala Investment Company PJSC, Mamoura Diversified Global Holding PJSC, Ninteenth Investment Company LLC ×4 filings | Sept. 19, 2023 | · | Initial filing | · | SEC |
| TotalEnergies SE (2), TotalEnergies Gestion USA SARL (2), TotalEnergies Holdings USA, Inc. (2), TotalEnergies Delaware, Inc. (2), Global LNG North America Corp. (2) ×3 filings | Sept. 8, 2023 | · | Initial filing | Board campaign | SEC |
| Kathleen Eisbrenner (2) ×3 filings | Oct. 31, 2019 | · | Initial filing | · | SEC |
| Valinor Capital Partners SPV XIX, LLC, Valinor Capital Partners SPV XXII, LLC, Valinor Capital Partners Offshore Master Fund, L.P., VND Partners, L.P., Valinor Associates, LLC, Valinor Management, L.P., David Gallo ×2 filings | Oct. 17, 2017 | · | Initial filing | · | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
Company insiders 29 insiders · 11 officers · 15 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Matthew K Schatzman | Chief Executive Officer | Sept. 9, 2026 F | 5,319,526 | 0 | 0 | $0 |
| John Zuklic | Chief Financial Officer | Aug. 31, 2026 A | 139,257 | 0 | 0 | $0 |
| Michael Mott | Interim CFO | Oct. 16, 2025 A | 510,415 | 0 | 0 | $0 |
| Brent Wahl | Chief Financial Officer | Oct. 16, 2025 A | 1,515,142 | 0 | 0 | $0 |
| Benjamin Atkins | Chief Financial Officer | May 24, 2019 A | 120,560 | 0 | 0 | $0 |
| Tarik Skeik | Chief Operating Officer | Sept. 9, 2026 F | 355,542 | 0 | 0 | $0 |
| Ivan Van Der Walt | Chief Operating Officer | April 14, 2022 A | 308,812 | 0 | 0 | $0 |
| Vera De Gyarfas | General Counsel | Sept. 9, 2026 F | 955,103 | 0 | 0 | $0 |
| Luke Boylston | Chief Accounting Officer | Aug. 31, 2026 F | 236,818 | 0 | 0 | $0 |
| Eric Garcia | SVP, Chief Accounting Officer | Aug. 30, 2024 A | 402,377 | 0 | 0 | $0 |
| Krysta De Lima | General Counsel | Jan. 25, 2021 A | 120,447 | 0 | 0 | $0 |
| Charles Q. Brown Jr. | Director | June 15, 2026 A | 11,965 | 0 | 0 | $0 |
| David L Stover | Director | June 15, 2026 A | 20,565 | 0 | 0 | $0 |
| Beall Pamela K.M. | Director | March 23, 2026 P | 71,500 | 1 | 0 | $505,505 |
| Frank Chapman | Director | Jan. 30, 2026 A | 285,427 | 0 | 0 | $0 |
| Edward Andrew Scoggins Jr. | Director | Jan. 30, 2026 A | 230,315 | 0 | 0 | $0 |
| Brian Belke | Director | Jan. 30, 2026 A | 440,919 | 0 | 0 | $0 |
| William C Vrattos | Director | Jan. 30, 2026 A | 78,517 | 0 | 0 | $0 |
| Louis Spencer Wells | Director | Jan. 30, 2026 A | 276,410 | 0 | 0 | $0 |
| Diana L Sands | Director | Jan. 30, 2026 A | 47,404 | 0 | 0 | $0 |
| Eric Rosenfeld | Director | Oct. 30, 2019 J | 1,277,274 | 0 | 0 | $0 |
| David Sgro | Director | July 24, 2017 C | 272,019 | 0 | 0 | $0 |
| Adam Semler | Director | March 27, 2017 A | · | 0 | 0 | $0 |
| John P. Schauerman | Director | March 27, 2017 A | · | 0 | 0 | $0 |
| Leonard B Schlemm | Director | March 27, 2017 A | 59,900 | 0 | 0 | $0 |
| Hanwha Aerospace Co., Ltd. | 10% owner | Dec. 12, 2025 P | 26,420,222 | 22 | 0 | $46,680,047 |
| Polar Securities Inc. | 10% owner | June 9, 2017 S | 1,217,975 | 0 | 0 | $0 |
| Thomas Kobylarz | · | July 24, 2017 C | 52,780 | 0 | 0 | $0 |
| K2 PRINCIPAL FUND, L.P. | · | June 19, 2017 S | 1,490,750 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 24 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| USAI · Pacer Funds Trust | 2.69% | 531,900 NS | July 31, 2026 | N-PORT |
| PXI · Invesco Exchange-Traded Fund Trust | 0.64% | 65,415 SH | Oct. 1, 2026 | Daily |
| VDE · VANGUARD WORLD FUND | 0.09% | 1,345,279 SH | Aug. 19, 2026 | Daily |
| FENY · FIDELITY COVINGTON TRUST | 0.08% | 227,150 NS | July 31, 2026 | N-PORT |
| NUSC · Nushares ETF Trust | 0.07% | 143,599 NS | July 31, 2026 | N-PORT |
| VTWV · VANGUARD SCOTTSDALE FUNDS | 0.07% | 120,001 SH | Aug. 19, 2026 | Daily |
| ESML · iShares Trust | 0.06% | 217,840 SH | Sept. 11, 2026 | Daily |
| IWM · iShares Trust | 0.04% | 4,286,117 SH | Sept. 11, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.04% | 970,403 SH | Aug. 19, 2026 | Daily |
| RSSL · Global X Funds | 0.04% | 80,559 NS | July 31, 2026 | N-PORT |
| BBSC · J.P. Morgan Exchange-Traded Fund Tr… | 0.03% | 33,226 NS | July 31, 2026 | N-PORT |
| TEXN · iShares Trust | 0.02% | 512 SH | Sept. 11, 2026 | Daily |
| IWO · iShares Trust | 0.02% | 287,458 SH | Sept. 11, 2026 | Daily |
| VXF · VANGUARD INDEX FUNDS | 0.01% | 1,615,911 SH | Aug. 19, 2026 | Daily |
| VTWG · VANGUARD SCOTTSDALE FUNDS | 0.01% | 32,840 SH | Aug. 19, 2026 | Daily |
| WSML · iShares Trust | 0.01% | 6,688 SH | Sept. 11, 2026 | Daily |
| ITOT · iShares Trust | 0.00% | 197,315 SH | Sept. 11, 2026 | Daily |
| IWV · iShares Trust | 0.00% | 32,432 SH | Sept. 3, 2026 | Daily |
| TILT · FlexShares Trust | 0.00% | 2,156 NS | July 31, 2026 | N-PORT |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 3,787,633 SH | Aug. 19, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 14,779 SH | Aug. 19, 2026 | Daily |
| IWN · iShares Trust | · | 1,284,199 SH | Sept. 11, 2026 | Daily |
| ISCB · iShares Trust | · | 5,412 SH | Sept. 11, 2026 | Daily |
| ISCV · iShares Trust | · | 26,602 SH | Sept. 11, 2026 | Daily |
NEXT Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
rating · 12 analysts
BUY
Median target
$8.50
+31.2%
3 25.0%
Strong Buy
5 41.7%
Buy
4 33.3%
Hold
0 0.0%
Sell
0 0.0%
Strong Sell
12-Month Price Target
5 analysts · 2026-09-30Mean target $8.70 +34.3%
← Below all targets
Current price $6.48
Low$7.00
Mean$8.70
High$11.00
Peer comparison (GICS sub-industry) Key metrics vs sector peers
FY basis, prices as of each company's last fiscal year-end close.
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| NEXT | · | -4.5 | · | · | -181.7% | · |
| PAGP | · | 38.3 | -9.5% | 0.59% | · | · |
| EE | · | 21.9 | 44.3% | · | · | · |
| DKL | · | · | 7.7% | 17.4% | · | · |
| LPG | $1.46B | 7.5 | 36.3% | 40.2% | 17.6% | · |
| NGL | · | · | -9.0% | -4.5% | · | · |
| GEL | · | -3.7 | -1.8% | -27.0% | · | · |
| GLP | · | · | 8.1% | 0.53% | · | 5.7% |
| CAPL | · | 20.2 | -10.6% | 1.1% | · | 11.0% |
| SMC | $327M | -16.6 | 30.8% | -1.1% | -1.2% | · |
| OSG | $350M | -1.3 | 6.5% | -103.1% | -34.2% | · |
Latest News Recent headlines mentioning this company
NextDecade Stock Has Lagged the Market, so Why Did One Investor Buy Up More?
Nasdaq · 4 months ago
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Yahoo Finance · 4 months, 2 weeks ago
NextSource greenlights UAE battery anode facility
Yahoo Finance · 4 months, 3 weeks ago
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Yahoo Finance · 5 months, 4 weeks ago
NextDecade (NEXT) Soars 11% on US-Iran Uncertainties
Yahoo Finance · 6 months ago
NextDecade (NEXT) Soars 27% on LNG Crisis
Yahoo Finance · 6 months, 1 week ago
TD Cowen Lowers NextDecade (NEXT) Price Target to $6
Yahoo Finance · 6 months, 1 week ago
Noteworthy Wednesday Option Activity: NEXT, NET, AVO
Nasdaq · 6 months, 2 weeks ago
A Look at NextDecade Upcoming Earnings Report - NextDecade ( NASDAQ : NEXT )
www.benzinga.com · 7 months ago
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Source: SEC 10-Q filed Jul 30, 2026