Nextdecade Corp (NEXT) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-611.9%

-$34.09

vs $6.66 price

Levered DCF

-$32.47

After debt service

Piotroski score

1 / 9

Weak

Altman Z-score

0.01

Distress zone

Rating

D+

Overall 1 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	-4.5×	-32.13×	-5.07×	-7.6×	-8.38×	-8.71×	-13.64×	-13.85×
P/B	14.49×	5.28×	3.22×	2.5×	1.8×	1.42×	3.57×	3.85×
P/S	0×	0×	0×	0×	0×	0×	0×	0×
EV / EBITDA	-30.17×	19.3×	-13.62×	-9.83×	-14.78×	-7.97×	-21.02×	-13.3×
Gross margin	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Operating margin	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Net margin	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Current ratio	0.54×	0.69×	0.57×	2.52×	3.21×	4.53×	3.66×	6.36×
Debt / equity	90.8×	10.77×	6.83×	0.01×	0×	0×	0×	0×
Interest coverage	-1.33×	-1.95×	-1.45×	-9.48×	0×	0×	0×	0×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	-0.0%	-0.1%	-0.3%	-0.3%	-0.1%	-0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-321.4%	-16.4%	-56.4%	-23.4%	-11.7%	-8.3%	-19.1%	-28.1%
Return on invested capital	-2.0%	-2.9%	-4.4%	-18.9%	-9.1%	-11.2%	-17.5%	-27.4%
Return on assets	-2.5%	-1.0%	-4.9%	-19.2%	-9.9%	-7.1%	-16.2%	-24.8%
Free cash flow yield	-363.1%	-133.6%	-195.1%	-11.5%	-8.8%	-23.9%	-9.1%	-7.3%
Earnings yield	-22.2%	-3.1%	-17.5%	-9.3%	-6.5%	-5.8%	-5.4%	-7.3%
Enterprise value	$9.9B	$5.9B	$2.9B	$581.6M	$314.8M	$223.4M	$654.6M	$572.3M
Net debt / EBITDA	-25.96×	12.79×	-9.19×	1.04×	1.17×	0.79×	0.48×	0.07×
Cash conversion cycle (days)	-13,367	-7,028	-14,066	-2,442	-557	-42	-1,899	-207