NEXT revenueQ3 2026$0
NEXT revenue was $0 in fiscal Q3 2026 (ended Sep 30, 2026), compared with $0 a year earlier. For the full fiscal 2025 it was $0, compared with $0 in fiscal 2024.
NextDecade Corporation (NEXT) financials
For the twelve months ended Sep 30, 2026, NextDecade Corporation reported $0 of revenue and -$275.57M of net income.
- Revenue, TTM
- $0
- Net income, TTM
- -$275.57M
- Free cash flow, TTM
- -$5.37B
- EPS, diluted, TTM
- -$0.40
- Cash
- $129.91M
- Total debt
- $11.99B
- Market cap
- $1.71B
FY2016FY2025
FY2016FY2025
FY2016FY2025
NEXT revenue and earnings growth
NEXT net incomeQ3 2026$155.38M
NEXT net income was $155.38M in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$109.48M a year earlier. For the full fiscal 2025 it was -$429.64M, compared with $277.45M in fiscal 2024.
NEXT EPSQ3 2026$0.54
NEXT diluted EPS was $0.54 in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$0.42 a year earlier. For the full fiscal 2025 it was -$1.17, compared with -$0.24 in fiscal 2024.
NEXT free cash flowQ3 2026-$1.08B
NEXT free cash flow was -$1.08B in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$1.43B a year earlier. For the full fiscal 2025 it was -$5.02B, compared with -$2.66B in fiscal 2024.
Income statement
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Research and development | $8.01M | $8.26M | $4.89M | $4.10M | - | - | - | - | - | - |
| Selling, general and admin | $202.28M | $150.11M | $111.47M | $49.09M | - | - | - | $35.18M | $34.55M | $7.30M |
| Operating income | -$225.93M | -$171.07M | -$122.67M | -$54.48M | -$19.51M | -$22.01M | -$35.00M | -$43.02M | -$35.64M | -$8.50M |
| Interest expense | $170.01M | $87.54M | $50.28M | $0 | - | - | - | - | - | - |
| Income tax | $0 | - | - | $0 | $0 | $0 | $0 | $0 | - | - |
| Net income | -$429.64M | $277.45M | -$221.64M | -$84.35M | -$22.04M | -$14.33M | -$35.87M | -$41.96M | -$35.33M | -$8.44M |
| EPS, basic | -$1.17 | -$0.24 | -$0.94 | -$0.65 | -$0.34 | -$0.24 | -$0.45 | -$0.41 | -$0.35 | -$0.09 |
| EPS, diluted | -$1.17 | -$0.24 | -$0.94 | -$0.65 | -$0.34 | -$0.24 | -$0.45 | -$0.41 | -$0.35 | -$0.09 |
| Diluted shares | 262.2M | 258.5M | 194.6M | 130.1M | 119.2M | 117.5M | 109.1M | 106.6M | 100.9M | 95.7M |
Balance sheet
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $143.78M | $392.76M | $294.48M | $62.79M | $25.55M | $22.61M | $15.74M | $3.17M | $35.70M | $12.52M |
| Current assets | $718.05M | $412.57M | $314.52M | $63.94M | $26.39M | $23.28M | $78.80M | $76.93M | $42.87M | $19.20M |
| Total assets | $12.43B | $6.40B | $3.32B | $312.43M | $222.10M | $201.67M | $221.19M | $169.00M | $116.09M | $75.78M |
| Current liabilities | $1.34B | $595.08M | $552.39M | $25.36M | $8.23M | $5.14M | $21.54M | $12.09M | $8.40M | $4.93M |
| Short-term debt | - | - | - | $0 | - | - | - | - | - | - |
| Long-term debt | $8.51B | $3.92B | $1.82B | $0 | - | - | - | - | - | - |
| Total debt | $8.51B | $3.92B | $1.82B | $0 | - | - | - | - | - | - |
| Total liabilities | $10.12B | $4.66B | $2.58B | $55.62M | $33.81M | $28.93M | $33.58M | $19.53M | $13.00M | $7.68M |
| Shareholders' equity | $95.34M | $1.74B | $740.43M | $54.37M | $19.89M | $60.43M | $89.72M | $83.22M | $103.09M | $68.10M |
Cash flow
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$169.40M | -$95.58M | -$73.62M | -$40.08M | -$17.96M | -$26.25M | -$40.70M | -$23.29M | -$12.83M | -$7.19M |
| Capital expenditures | $4.85B | $2.57B | $1.74B | $33.75M | $12.11M | $32.35M | $20.30M | $18.66M | $14.83M | $19.39M |
| Free cash flow | -$5.02B | -$2.66B | -$1.81B | -$73.83M | -$30.07M | -$58.60M | -$61.00M | -$41.94M | -$27.66M | -$26.58M |
| Investing cash flow | -$4.85B | -$2.57B | -$1.75B | -$40.89M | -$18.53M | $18.52M | -$16.69M | -$86.16M | $11.86M | -$24.42M |
| Financing cash flow | $5.34B | $2.77B | $2.06B | $118.20M | $39.44M | $14.60M | $69.96M | $76.91M | $24.15M | $60.0K |
| Share repurchases | $16.95M | $6.70M | $9.63M | $3.27M | $284.0K | $346.0K | $650.0K | $35.0K | - | - |
| Stock-based compensation | $39.21M | $19.91M | $26.55M | $7.47M | -$4.31M | -$341.0K | -$9.65M | $16.84M | $22.69M | - |
| Depreciation and amortization | $12.12M | $12.71M | $6.31M | - | - | - | - | - | - | - |
Key ratios
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Return on equity | -450.6% | 15.9% | -29.9% | -155.1% | -110.8% | -23.7% | -40.0% | -50.4% | -34.3% | -12.4% |
| Return on assets | -3.5% | 4.3% | -6.7% | -27.0% | -9.9% | -7.1% | -16.2% | -24.8% | -30.4% | -11.1% |
| Current ratio | 0.54 | 0.69 | 0.57 | 2.52 | 3.21 | 4.53 | 3.66 | 6.36 | 5.10 | 3.89 |
| Debt to equity | 89.27 | 2.25 | 2.45 | 0.00 | - | - | - | - | - | - |
Income statement
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Research and development | $2.16M | $2.85M | $2.14M | $3.57M | $2.88M | $1.25M | $307.0K | $956.0K | $2.39M | $2.41M | $2.51M | $2.93M |
| Selling, general and admin | $48.79M | $30.30M | $49.94M | $80.22M | $53.61M | $36.88M | $44.94M | $40.10M | $43.60M | $33.90M | $32.51M | $26.27M |
| Operating income | -$82.91M | -$54.57M | -$55.12M | -$45.78M | -$71.96M | -$56.27M | -$51.92M | -$44.27M | -$49.16M | -$39.53M | -$38.12M | -$32.15M |
| Interest expense | $69.26M | $90.78M | $79.25M | $70.89M | $40.28M | $31.63M | $27.20M | $20.13M | $15.90M | $26.03M | $25.48M | $17.75M |
| Income tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 | - | $0 | $0 | $0 | - |
| Net income | $155.38M | -$65.43M | -$195.04M | -$170.48M | -$109.48M | -$60.87M | -$245.23M | $481.44M | -$123.20M | -$32.58M | $186.78M | -$255.85M |
| EPS, basic | $0.58 | -$0.25 | -$0.51 | -$0.18 | -$0.42 | -$0.23 | -$0.34 | $0.25 | -$0.47 | -$0.13 | $0.11 | - |
| EPS, diluted | $0.54 | -$0.25 | -$0.51 | -$0.18 | -$0.42 | -$0.23 | -$0.34 | $0.25 | -$0.47 | -$0.13 | $0.11 | - |
| Diluted shares | 281.1M | 265.4M | 264.9M | - | 262.6M | 260.9M | 260.4M | - | 259.4M | 257.8M | 266.9M | - |
Balance sheet
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $129.91M | $83.68M | $143.12M | $143.78M | $744.67M | $457.04M | $386.15M | $392.76M | $265.80M | $203.08M | $251.40M | $294.48M |
| Current assets | $642.68M | $631.91M | $487.52M | $718.05M | $764.82M | $476.85M | $404.79M | $412.57M | $271.37M | $224.06M | $283.92M | $314.52M |
| Total assets | $17.81B | $15.21B | $13.23B | $12.43B | $10.01B | $7.86B | $6.89B | $6.40B | $5.12B | $4.76B | $4.18B | $3.32B |
| Current liabilities | $1.81B | $1.69B | $1.21B | $1.34B | $1.19B | $683.88M | $475.68M | $595.08M | $558.27M | $499.56M | $505.65M | $552.39M |
| Long-term debt | $11.99B | $10.42B | $9.36B | $8.51B | $6.61B | $5.17B | $4.55B | $3.92B | $3.32B | $2.83B | $2.39B | $1.82B |
| Total debt | $11.99B | $10.42B | $9.36B | $8.51B | $6.61B | $5.17B | $4.55B | $3.92B | $3.32B | $2.83B | $2.39B | $1.82B |
| Total liabilities | $14.06B | $12.39B | $10.87B | $10.12B | $8.03B | $6.00B | $5.17B | $4.66B | $4.08B | $3.48B | $3.04B | $2.58B |
| Shareholders' equity | $111.85M | $2.82B | $2.36B | $95.34M | $1.98B | $1.87B | $1.72B | $1.74B | $1.05B | $1.28B | $1.14B | $740.43M |
Cash flow
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $111.45M | -$17.18M | -$110.83M | -$20.66M | -$76.02M | -$3.90M | -$68.83M | -$8.90M | -$63.84M | $5.99M | -$28.82M | -$20.99M |
| Capital expenditures | $1.19B | $980.68M | $1.18B | $1.99B | $1.36B | $731.62M | $769.97M | $694.61M | $505.31M | $593.27M | $774.62M | $741.17M |
| Free cash flow | -$1.08B | -$997.86M | -$1.29B | -$2.01B | -$1.43B | -$735.51M | -$838.80M | -$703.51M | -$569.15M | -$587.28M | -$803.44M | -$762.16M |
| Investing cash flow | -$1.19B | -$1.03B | -$1.18B | -$1.97B | -$1.35B | -$751.93M | -$779.41M | -$694.61M | -$505.31M | -$593.64M | -$780.65M | -$742.36M |
| Financing cash flow | $1.17B | $1.08B | $1.05B | $1.96B | $1.71B | $826.72M | $841.62M | $830.47M | $631.87M | $539.34M | $766.39M | $611.97M |
| Share repurchases | $4.70M | $0 | $18.0K | $1.38M | $15.47M | $42.0K | $49.0K | $125.0K | $6.42M | $59.0K | $94.0K | $20.0K |
| Stock-based compensation | $17.31M | $5.35M | $5.45M | $12.33M | $13.05M | $7.23M | $6.60M | $6.08M | $4.99M | $4.41M | $4.44M | $4.50M |
| Depreciation and amortization | $18.54M | $7.90M | $3.03M | $10.72M | $393.0K | $393.0K | $3.15M | $3.21M | $3.17M | $3.22M | $3.10M | - |
Key ratios
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current ratio | 0.36 | 0.37 | 0.40 | 0.54 | 0.64 | 0.70 | 0.85 | 0.69 | 0.49 | 0.45 | 0.56 | 0.57 |
| Debt to equity | 107.19 | 3.70 | 3.96 | 89.27 | 3.34 | 2.77 | 2.64 | 2.25 | 3.17 | 2.22 | 2.11 | 2.45 |
Source: XBRL data NextDecade Corporation files with the SEC, latest filing dated Oct 29, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.
* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.
Per-share figures are as filed. The filings show no stock split in these periods.
EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.
NEXT peers
| Company | Revenue | Growth | Net income | Net margin | Market cap |
|---|---|---|---|---|---|
| NEXT | $0 | - | -$275.57M | - | $1.71B |
| SHEL | $273.73B | -5.3% | $17.84B | 6.5% | $269.06B |
| TTE | $201.20B | -6.2% | $13.13B | 6.5% | $191.74B |
| PBR | $89.19B | -2.4% | $19.63B | 22.0% | $117.80B |
| CNQ | C$38.76B | +8.7% | C$10.82B | 27.9% | $98.67B |
| E | €82.15B | -7.5% | €2.61B | 3.2% | $86.74B |
| EOG | $29.73B | +31.7% | $8.19B | 27.5% | $78.56B |
| OXY | $25.75B | +36.9% | $7.50B | 29.1% | $56.88B |
| OKE | $43.19B | +36.8% | $4.07B | 9.4% | $55.08B |
NEXT FAQ
7 questionsWhat is NEXT revenue?
NextDecade Corporation (NEXT) reported $0 of revenue for the twelve months ended Sep 30, 2026. Revenue for fiscal 2025 was $0.Is NEXT profitable?
No. NextDecade Corporation reported a net loss of $275.57M for the twelve months ended Sep 30, 2026.How much cash and debt does NEXT have?
NextDecade Corporation reported $129.91M in cash and cash equivalents and $11.99B of debt on its most recent balance sheet in SEC filings.What is NEXT free cash flow?
NextDecade Corporation generated -$5.37B of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of -$37.22M less capital expenditures.What is NEXT earnings per share?
Diluted earnings per share were -$0.40 for the twelve months ended Sep 30, 2026, from SEC filings, restated for any stock split those filings show.When did NEXT last report financial results?
The latest statements here come from NextDecade Corporation's 10-Q filed on Oct 29, 2026, covering the period ended Sep 30, 2026.Where does this NEXT financial data come from?
Quantisnow builds these statements from the structured XBRL data NextDecade Corporation files with the SEC. It is provided for information only and is not investment advice.