NextDecade Corporation (NEXT)
NASDAQ:NEXT
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NextDecade
(NASDAQ:NEXT)
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Rating:47Neutral
Price Target:
$8.00
▼(-3.73% Downside)
Action:ReiteratedDate:03/19/26
The score is primarily weighed down by very weak financial performance (no revenue, sizable losses, and sustained cash burn with elevated balance sheet risk). Technicals provide some offset due to improving short-term momentum, but overbought signals and a lack of meaningful valuation support (negative P/E, no dividend) keep the overall score low.
Positive Factors
Contract-backed LNG business model
NextDecade structures revenue around long-term LNG offtake and tolling contracts that underpin project financing. Those contract-backed cash flows, once operational, provide predictable multi-year revenue streams, reduce commodity exposure and support durable financing and planning.
Negative Factors
Zero revenue and persistent losses
The company has recorded no revenue over multiple years while incurring sizable net losses, showing an absence of operating cash inflows. This lack of an operating revenue track record is a durable risk until the terminal begins commercial operations and material offtakes commence.
Read all positive and negative factors
Positive Factors
Negative Factors
Contract-backed LNG business model
NextDecade structures revenue around long-term LNG offtake and tolling contracts that underpin project financing. Those contract-backed cash flows, once operational, provide predictable multi-year revenue streams, reduce commodity exposure and support durable financing and planning.
Read all positive factors
NextDecade (NEXT) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.20B
Dividend YieldN/A
Average Volume (3M)2.54M
Price to Earnings (P/E)―
Beta (1Y)1.08
Revenue GrowthN/A
EPS GrowthN/A
CountryUS
Employees237
SectorEnergy
Sector Strength52
IndustryOil & Gas Exploration & Production
Share Statistics
EPS (TTM)N/A
Shares Outstanding264,930,050
10 Day Avg. Volume2,330,608
30 Day Avg. Volume2,537,651
Financial Highlights & Ratios
PEG Ratio-0.01
Price to Book (P/B)14.49
Price to Sales (P/S)0.00
P/FCF Ratio-0.28
Enterprise Value/Market Cap4.87
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit-729.00
Enterprise Value/Ebitda-23.61
Forecast
1Y Price Target
$7.00Price Target Upside-15.76% Downside
Rating ConsensusModerate Buy
Number of Analyst Covering3
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
NextDecade Business Overview & Revenue Model
Company Description
NextDecade Corporation engages in the development activities related to the liquefaction and sale of liquefied natural gas (LNG); and capture and storage of CO2 emissions. The company focuses on the development activities on the Rio Grande LNG ter...
How the Company Makes Money
NextDecade’s business model is to develop, finance, construct, and operate LNG export facilities and earn revenue primarily from long-term commercial contracts tied to the terminal’s capacity and LNG volumes. The key expected revenue stream is fro...
NextDecade Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
18
Very Negative
Cash Flow
10
Very Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -12.12M | -6.68M | -3.15M | -1.27M | -2.15M |
| EBITDA | -213.81M | 371.66M | -168.21M | -58.80M | -19.89M |
| Net Income | -306.43M | -61.75M | -162.26M | -60.07M | -22.04M |
Balance Sheet | |||||
| Total Assets | 12.43B | 6.40B | 3.32B | 312.43M | 222.10M |
| Cash, Cash Equivalents and Short-Term Investments | 143.78M | 148.14M | 38.24M | 62.79M | 25.55M |
| Total Debt | 8.66B | 4.07B | 1.97B | 1.56M | 596.00K |
| Total Liabilities | 10.12B | 4.66B | 2.58B | 55.62M | 33.81M |
| Stockholders Equity | 95.34M | 377.64M | 287.92M | 256.81M | 188.29M |
Cash Flow | |||||
| Free Cash Flow | -5.02B | -2.66B | -1.81B | -73.83M | -30.07M |
| Operating Cash Flow | -169.40M | -95.58M | -73.62M | -40.08M | -17.96M |
| Investing Cash Flow | -4.85B | -2.57B | -1.75B | -40.89M | -18.53M |
| Financing Cash Flow | 5.34B | 2.77B | 2.06B | 118.20M | 39.44M |
NextDecade Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | $6.01B | 81.04 | 10.34% | 3.56% | 33.85% | -34.08% | |
71 Outperform | $3.82B | 8.86 | 22.73% | ― | 38.16% | -115.65% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
65 Neutral | $5.95B | 42.92 | 2.03% | 4.15% | -13.92% | -68.34% | |
65 Neutral | $2.98B | 54.12 | 1.69% | 8.18% | 1.51% | -78.38% | |
47 Neutral | $2.20B | -4.51 | -150.81% | ― | ― | ― |
* Energy Sector Average
NEXT
NextDecade
8.31
2.33
38.96%
MUR
Murphy Oil
41.68
21.27
104.17%
NOG
Northern Oil And Gas
28.47
7.40
35.10%
CRC
California Resources Corp
67.71
34.57
104.30%
GPOR
Gulfport Energy
205.80
41.33
25.13%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.