NEXT
$6.26+4.16%
NextDecade CorporationStock · EnergyRussell 2000 0.04%Nasdaq Composite 0.007%US Stock Market 0.001%Russell 3000 0.001%
NEXT financial statements
The full income statement, balance sheet, and cash-flow statement for NextDecade Corporation (NEXT), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
2024-06 259.5M2024-09 260.3M2024-12 260.4M2025-03 260.9M2025-06 262.0M2025-09 264.8M2025-12 264.9M2026-03 265.0M2026-06 266.2M+2.6% over 8 periods
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
As-reported fiscal years.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| 226M+32.1% | 171M+39.5% | 123M+125.2% | 54.5M+179.3% | 19.5M-11.4% | ||
| Research & development | 8.01M-3.1% | 8.26M+68.9% | 4.89M+19.3% | 4.10M | — | |
| Selling, general & administrative | 202M+34.8% | 150M+34.7% | 111M+127.1% | 49.1M | — | |
| General & administrative | 202M+34.8% | 150M+34.7% | 111M+127.1% | 49.1M | — | |
| Operating income | -226M-32.1% | -171M-39.5% | -123M-125.2% | -54.5M-179.3% | -19.5M+11.4% | |
| Interest expense | 170M+94.2% | 87.5M+74.1% | 50.3M | 0.00 | — | |
| Other non-operating income | 7.45M+738.9% | -1.17M-120.6% | 5.65M+3639.7% | 151K+15000.0% | 1.00K+105.6% | |
| Income tax | 0.00 | — | — | 0.00 | 0.00 | |
| -430M-254.9% | 277M+225.2% | -222M-269.0% | -60.1M-172.6% | -22.0M-53.8% | ||
| Net income to non-controlling interest | -123M-136.3% | 339M+671.2% | -59.4M | 0.00 | — | |
| Preferred dividends | 0.00 | 0.00-100.0% | 20.5M-15.6% | 24.3M+32.7% | 18.3M+27.7% | |
| Net income to common | -306M-396.2% | -61.8M+66.2% | -183M-116.6% | -84.4M-108.8% | -40.4M-40.3% | |
| -$1.17-387.5% | -$0.24+74.5% | -$0.94-44.6% | -$0.65 | — | ||
| EPS (basic) | -$1.17-387.5% | -$0.24+74.5% | -$0.94-44.6% | -$0.65-91.2% | -$0.34 | |
| Weighted-avg shares (basic) | 262M+1.4% | 259M+32.9% | 195M+49.5% | 130M+9.2% | 119M+1.4% | |
| Weighted-avg shares (diluted) | 262M+1.4% | 259M+32.9% | 195M+49.5% | 130M+9.2% | 119M+1.4% | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 718M+74.0% | 413M+31.2% | 315M+391.9% | 63.9M+142.3% | 26.4M+13.4% | ||
| Cash & equivalents | 144M-2.9% | 148M+287.4% | 38.2M-39.1% | 62.8M+145.7% | 25.6M+13.0% | |
| Prepaid expenses | 11.0M-44.7% | 19.8M+848.3% | 2.09M+81.8% | 1.15M+37.6% | 835K+24.6% | |
| Other current assets | — | — | — | 107K-65.9% | 314K+17.6% | |
| 12.4B+94.0% | 6.40B+92.7% | 3.32B+963.9% | 312M+40.7% | 222M+10.1% | ||
| Property, plant & equipment | 10.6B+110.5% | 5.02B+105.9% | 2.44B+1014.9% | 219M+25.8% | 174M+7.5% | |
| Operating lease right-of-use | 162M-2.2% | 166M-2.8% | 171M+11489.3% | 1.47M+149.8% | 590K+37.5% | |
| Other non-current assets | 21.7M+39.2% | 15.6M+41.2% | 11.0M-61.2% | 28.4M+33.1% | 21.3M+30.8% | |
| 1.34B+124.5% | 595M+7.7% | 552M+2078.1% | 25.4M+208.3% | 8.23M+59.9% | ||
| Accounts payable | 444M+81.5% | 245M+0.6% | 243M+22328.9% | 1.08M+285.8% | 281K+35.7% | |
| Accrued liabilities | 888M+155.6% | 348M+13.5% | 306M+1220.4% | 23.2M | — | |
| Short-term & current debt | — | — | — | 0.00 | — | |
| Current lease liability | 3.88M+34.8% | 2.88M-8.3% | 3.14M+187.6% | 1.09M+83.4% | 596K+38.0% | |
| Finance lease liability (current) | 0.00 | — | — | — | — | |
| 10.1B+117.3% | 4.66B+80.4% | 2.58B+4545.0% | 55.6M+64.5% | 33.8M+16.9% | ||
| Long-term debt | 8.51B+117.1% | 3.92B+115.8% | 1.82B | 0.00 | — | |
| Non-current lease liability | 142M-1.3% | 144M-1.2% | 146M+31289.7% | 465K | 0.00 | |
| Operating lease liability (total) | 146M-0.6% | 147M-1.4% | 149M+9470.3% | 1.56M+161.4% | 596K+38.0% | |
| Finance lease liability | 0.00 | — | — | — | — | |
| Other non-current liabilities | — | 0.00-100.0% | 1.82M-92.1% | 23.0M+0.0% | 23.0M+0.4% | |
| 95.3M-74.8% | 378M+31.2% | 288M+429.6% | 54.4M+173.3% | 19.9M-67.1% | ||
| Preferred stock | — | — | 0.00 | 0.00 | 0.00 | |
| Common stock | — | — | — | 14.0K+16.7% | 12.0K+0.0% | |
| Additional paid-in capital | 893M+4.8% | 852M+22.8% | 694M+140.0% | 289M+51.1% | 191M-8.7% | |
| Retained earnings | -760M-67.6% | -454M-15.8% | -392M-70.2% | -230M-35.3% | -170M-14.9% | |
| Treasury stock | 37.9M+81.0% | 20.9M+47.2% | 14.2M+209.9% | 4.59M+248.8% | 1.31M+27.5% | |
| Non-controlling interest | 2.21B+61.4% | 1.37B+202.0% | 453M | 0.00 | — | |
| Total equity incl. non-controlling | 2.30B+31.9% | 1.74B+135.6% | 740M+1261.8% | 54.4M+173.3% | 19.9M | |
| Total liabilities & equity | 12.4B+94.0% | 6.40B+92.7% | 3.32B+963.9% | 312M+40.7% | 222M+10.1% | |
| Common shares issued | 265M+1.8% | 260M+1.4% | 257M+78.7% | 144M+18.8% | 121M+2.5% | |
| Common shares outstanding | 265M+1.8% | 260M+1.4% | 257M+78.7% | 144M+18.8% | 121M+2.5% | |
| Shares outstanding (cover) | 265M+1.7% | 260M+1.5% | 257M+70.5% | 151M+22.1% | 123M+1.0% | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| -169M-77.2% | -95.6M-29.8% | -73.6M-83.7% | -40.1M-123.1% | -18.0M+31.6% | ||
| Depreciation & amortization | 12.1M-4.6% | 12.7M+101.4% | 6.31M+3794.4% | 162K-12.0% | 184K-6.1% | |
| Share-based compensation | 39.2M+97.0% | 19.9M-25.0% | 26.6M+255.4% | 7.47M+273.2% | -4.31M-1164.8% | |
| Change in payables | 2.17M+197.7% | -2.22M-154.8% | 4.06M+493.1% | 684K+2730.8% | -26.0K+93.0% | |
| -4.85B-88.5% | -2.57B-46.9% | -1.75B-4186.8% | -40.9M-120.6% | -18.5M-200.1% | ||
| Capital expenditure | 4.85B+88.8% | 2.57B+47.8% | 1.74B+5048.1% | 33.8M+178.8% | 12.1M-62.6% | |
| Free cash flow | -5.02B-88.3% | -2.66B-47.0% | -1.81B-2353.3% | -73.8M-145.6% | -30.1M+48.7% | |
| Acquisitions | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Purchases of investments | — | — | — | — | 0.00-100.0% | |
| 5.34B+92.8% | 2.77B+34.5% | 2.06B+1641.2% | 118M+199.7% | 39.4M+170.0% | ||
| Long-term debt issued | 4.70B+33.4% | 3.52B+69.1% | 2.08B | 0.00 | 0.00 | |
| Long-term debt repaid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock issued | 0.00 | 0.00-100.0% | 254M+121.2% | 115M+20546.3% | 557K | |
| Common stock repurchased | 16.9M+152.8% | 6.70M-30.4% | 9.63M+194.2% | 3.27M+1052.1% | 284K-17.9% | |
| Dividends paid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Net change in cash | 314M+219.8% | 98.3M-57.6% | 232M+522.2% | 37.2M+1164.8% | 2.94M-57.2% | |
| Interest paid | 30.1M+745.9% | 3.56M-84.8% | 23.4M | 0.00 | — | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 1.40B-30.5% | 2.01B+64.1% | 1.22B+71.6% | 713M+102.9% | 352M+37.7% | |
| P/E | — | 7.2×-91.0% | 80.1× | — | — | |
| P/B | 14.6×+175.4% | 5.3×+107.2% | 2.6×-72.5% | 9.3×-47.1% | 17.7×+318.3% | |
| Earnings yield | — | 13.8%+1006.5% | 1.2% | — | — | |
| Source filing | 10-K | 10-K | 10-K | 10-K | 10-K |
About this data
Source: NEXT’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all NEXT filings on SEC EDGAR → Not investment advice.