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Nextdecade Corp(NEXT)

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ADVISORIES YOU CAN VERIFY
QUALITY SIGNAL RECENCY
4-STAR RATING
WEAK BUY
BUY for 5 days
PROFIT SINCE LAST BUY
-5.17%
LAST CLOSE
$7.15
09/15/2026
(24-hour delay)

Advisory History & Simulated Performance *

*as per simulation (see disclosures)
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Upturn Advisory & Investor View for NEXT

09/15/2026: NEXT (4-star) is a REGULAR-BUY. BUY for 5 days. Simulated Profits (-5.17%). Updated daily EoD!

NextDecade Corp is a US-based energy infrastructure company currently focused on constructing its flagship Rio Grande LNG export project in Texas. Its primary strength lies in integrating carbon capture technology, which aims to provide a competitive advantage in the global market for lower-carbon LNG. The company’s core growth story rests on the successful construction and operational ramp-up of this major terminal, supported by long-term off-take agreements. Key risks involve significant execution and financial challenges inherent in multi-billion dollar construction projects, as well as fluctuating energy price spreads. The stock may best suit growth-oriented investors interested in energy infrastructure and should be monitored for project construction progress and regulatory updates.

How to Read the Upturn Advisory

The Upturn Star Rating and the current BUY, SELL, or PASS advisory are generated by Upturn’s AI advisory engine based on proprietary signal analysis, price behavior, advisory history, and historical signal performance.

Company fundamentals, valuation, risks, and news provide supporting context about the business.

Investor Fit

Investor styleFitWhy
Growth investorStrong fit while signal remains positiveThe company offers significant potential for long-term growth as its massive LNG infrastructure project becomes operational.
Momentum investorMixed fitMomentum is highly conditional on project progress news and energy price volatility, requiring careful timing.
Value investorWeak fitThe company is in a capital-intensive development phase with limited traditional valuation metrics like P/E ratios.
Dividend investorWeak fitNextDecade does not currently pay dividends and reinvests all capital into massive infrastructure construction.
Low-risk investorWeak fitThe company involves high project execution, financial, and regulatory risks typical of large-scale infrastructure development.

Risk Profile

Risk factorLevelWhy it matters
Price volatilityHighLNG market prices directly impact the economic viability and future off-take pricing for the company's projects.
Valuation riskHighThe stock price is highly sensitive to speculative news regarding project milestones rather than current earnings.
Competition risk (LNG infrastructure)Medium / highThe company faces competition for market share and capital from larger, established global LNG players.
Business qualityMediumThe long-term business model depends on the successful delivery and reliable operation of complex, multi-year projects.
Dividend incomeLow / noneThere is no current yield, as the company is entirely focused on capital expansion.
Execution riskHighConstruction delays or cost overruns at the Rio Grande LNG site would significantly impact financial health and shareholder value.

Price Behavior

Strong Uptrend
PRICE PATH

Strong Uptrend

The stock has maintained a strong upward price trend across the last three quarters.

Choppy
PRICE STABILITY

Choppy

The stock has experienced frequent reversals and pronounced short-term price swings.

Analysis of Past Performance

Type Stock
Historic Profit 23.21%
Avg. Invested days 36
Today’s Advisory WEAK BUY
Upturn Advisory Rating upturn star rating icon
Upturn Advisory Performance Upturn Advisory Performance icon 3.0
Stock Returns Performance Upturn Returns Performance icon 3.0
Upturn Profits based on simulation icon Profits based on simulation
Upturn last close icon Last Close 09/15/2026

Upturn Scorecard

Upturn Star Rating

NEXT receives a 2-star rating, supported by available scored pillars. The rating is constrained by weak unit economics, soft quantitative characteristics, and weak price momentum.

Company Fundamentals

NEXT has moderate overall fundamentals (3 stars), with moderate financial health, soft growth momentum, and solid ownership. In FY2025 versus FY2024, growth and ownership metrics are mixed: negative earnings growth (-396.2%), soft cash generation (FCF margin 0.0%), slightly negative revenue growth (+0.0%).

Financial Health Rating

NEXT's financial health is supported by strong efficiency, including operating-expense and cost-of-revenue discipline (opex 0.0% of revenue). Profitability is weak (1 stars), which helps explain the 3-star overall score.

Growth Momentum Score

NEXT's growth profile is soft, with the least-weak measure being revenue growth at +0.0% FY2025 versus FY2024. By comparison, while earnings growth (-396.2%, negative) and free-cash-flow growth (-88.3%, negative) hold the profile back, so recent growth is not broad-based across the business.

Ownership

Institutional ownership is 43.2% and approximately 48.8% of outstanding shares are publicly tradable, supporting liquidity and institutional participation. Insider ownership of 45.58% supports management-shareholder alignment.

Top 5 Institutional Investors

BlackRock Inc 8.63%
Mubadala Investment Company PJSC 5.34%
Man Investment Partners (US) LP 3.48%
Vanguard Capital Management, LLC 2.22%
Catalyst Capital Advisors LLC 1.96%

Unit Economics (Per $1K Revenue)

NEXT generates approximately $-0 of gross profit, $-0 of operating income, and $-0 of free cash flow for every $1,000 of revenue. Based on FY2025 results. Strong cash conversion and healthy margins support the rating, although capital efficiency remains below the highest tier.

Economic Dimensions

Effective Tax Rate: 28.68%

Quantitative Style Profile

NEXT has a Short Squeeze Candidate profile. Weak momentum is the primary drawback, while valuation that is moderately attractive rather than deeply discounted.

Style Classification

Quality Focused

High VolatilitySmall / Mid Cap RiskShort Squeeze Risk

Key Highlights

Company Size Small-Cap Stock
Market Capitalization 1.97B USD
Price to earnings Ratio -
1Y Target Price 8.7
Price to earnings Ratio -
1Y Target Price 8.7
Volume (30-day avg) 2.3M shares
Beta 1.57
52 Weeks Range 4.75 - 9.24
Updated Date 09/15/2026
52 Weeks Range 4.75 - 9.24
Updated Date 09/15/2026
Dividends yield (FY) -
Basic EPS (TTM) -1.36

How Company Makes Money

Business areaWhat it includesRetail investor read
LNG SalesFuture revenue from long-term off-take agreements once the Rio Grande LNG facility is operational.Revenue is dependent on successfully completing the project and selling gas to global customers.
Carbon Capture ServicesPotential revenue from CCS services and low-carbon premium pricing on LNG.This is a future-facing segment designed to provide a competitive edge in a carbon-conscious market.
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Valuation

Trailing PE -
Forward PE -
Enterprise Value 12.43B
Price to Sales(TTM) -
Enterprise Value 12.43B
Price to Sales(TTM) -
Enterprise Value to Revenue -
Enterprise Value to EBITDA 18.93
Shares Outstanding 266.19M
Shares Floating 129.83M
Shares Outstanding 266.19M
Shares Floating 129.83M
Percent Insiders 45.58
Percent Institutions 43.24

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Financial Metrics

🧭 Investment Snapshot

Total Revenue (Scale)

Information icon Total money earned from selling products or services before any costs. It is needed to understand the scale of the business and its ability to generate income.

Net Income (Profit)

Information icon Final profit after all expenses, interest, and taxes are deducted. It is needed to determine the overall profitability available to shareholders.

Free Cash Flow (Cash Strength)

Information icon Cash remaining after operating activities and capital expenditures, showing cash available for growth. It is needed to evaluate the company’s ability to invest, pay dividends, or reduce debt.

📈 Growth & Strength

Operating Income (Core Profit)

Information icon Profit from core operations after deducting all operating expenses. It is needed to measure how efficiently the company runs its primary business activities.

EBITDA (Cash Earnings)

Information icon Earnings before interest, taxes, depreciation, and amortization, indicating operating cash potential. It is needed to compare operating performance across companies without accounting or financing differences.

Gross Profit (Unit Profitability)

Information icon Revenue minus cost of revenue, showing profit after direct production costs. It is needed to evaluate core business profitability before overhead expenses.

🛡️ Financial Safety

Cash (Liquidity Buffer)

Information icon Total cash and cash equivalents on hand. It is needed to evaluate immediate liquidity and financial flexibility.

Total Debt (Leverage Risk)

Information icon Total debt including both short-term and long-term components. It is needed to assess the company’s leverage and financial risk.

Net Working Capital (Short-Term Health)

Information icon Current assets minus current liabilities, indicating short-term liquidity strength. It is needed to assess whether the company can meet its short-term obligations.

🧱 Balance Sheet Strength

Stockholder Equity (Net Worth)

Information icon Total equity value held by shareholders. It is needed to understand the net worth of the company from the owners’ perspective.

Total Assets (Asset Base)

Information icon The full value of everything the company owns, including cash, inventory, equipment, and investments. It is needed to understand the resource base used to generate revenue.

Income Before Tax (Pre-Tax Earnings)

Information icon Income before provision for income taxes. It is needed to analyze profitability independent of tax structures.

⚙️ Cost & Drag Factors

Cost of Revenue (Production Cost)

Information icon Direct costs required to produce and deliver the products or services sold. It is needed to assess efficiency in production and service delivery.

Total Operating Expenses (Operating Cost)

Information icon Indirect costs of running the business such as salaries, marketing, and administration. It is needed to understand how much it costs to sustain ongoing business operations.

Income Tax Expense (Tax Drag)

Information icon Amount of taxes paid or payable to the government. It is needed to evaluate the impact of taxation on overall profitability.

About Nextdecade Corp

Exchange NASDAQ
Headquarters Houston, TX, United States
IPO Launch date 2015-06-04
Chairman & CEO Mr. Matthew K. Schatzman
Sector Energy
Industry Oil & Gas Equipment & Services
Full time employees 360
Full time employees 360

NextDecade Corporation, an energy company, engages in the construction and development activities related to the liquefaction of natural gas in the United States. The company constructs and develops natural gas liquefaction and export facilities located in the Rio Grande Valley near Brownsville, Texas; and a carbon capture and storage project at the Rio Grande LNG Facility. It is also involved in the sale of LNG. NextDecade Corporation was founded in 2010 and is based in Houston, Texas.