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Nextracker NXT

Nextracker scores excellent on business quality (8.6 of 10). Here is why, in plain words, and what our sealed record shows.

Last price$86.11Oct 10, 2026
Business qualityExcellent
Next earningsOct 28, 2026
Insiders, 90 daysSelling

Why it matters

  1. What Nextracker does

    Nextpower designs and manufactures solar tracker systems, selling hardware and software solutions to utility-scale solar project developers. Revenue is driven by securing equipment orders for large energy installations.

  2. What it does best

    Nextpower dominates solar tracker delivery with a revenue growth rate of 20.3% that sits in the top decile of its sector at the 92nd percentile. Its integrated hardware and software platform creates strong project-level switching costs for utility developers.

  3. The main risk

    Supply chain disruptions and component cost inflation threaten hardware margins. Because solar tracker deployment relies heavily on timely site delivery, any logistical bottleneck directly squeezes project economics and near-term volume growth.

Quality, check by check

Scored against its own industry, from company filings.

ProfitabilityStrong

Operating margin stands at 23.1% and FCF margin at 15.1%, supported by a robust ROE of 26.3%. Profitability scales efficiently as revenue climbs, translating higher volume directly into expanding cash generation.

MoatStrong

The moat rests on high-switching-cost tracker software and design integration that locks in utility developers. Operating in the top decile of sector revenue growth, its specialized ecosystem prevents easy displacement by rivals within 1-2 years.

GrowthFast

Revenue growth hit 20.3%, fueled by strong utility-scale solar demand. This top-line expansion accelerates compared to historical multi-year figures, outpacing peers like ROK at 0.9% and GNRC at -2.0%.

Financial healthStrong

Debt is non-existent with a total debt of zero and net cash of $1.1B, while interest coverage sits at 505x: debt costs are a rounding error. Free cash flow reached $549M, and the balance sheet is getting stronger.

Insiders

Executives and directors, from SEC Form 4 filings we read ourselves. Open market trades only; grants, option exercises and pre-planned sales left out.

2 sold $1.5M outside pre-planned sales.

Our sealed record on NXT

Verdicts appear here 30 days after we publish them; members see today's. Each one is in the nightly ledger, fingerprinted the night it was made.

The first sealed verdicts appear here on Oct 11, 2026.

Questions

Is NXT a good business?

Nextracker scores excellent on the Cluenex quality check (8.6 of 10), measured against its own industry. Profitability is strong, moat strong, growth fast and financial health strong.

Are insiders buying NXT?

In the last 90 days of SEC Form 4 filings: 2 sold $1.5M outside pre-planned sales.

When does NXT report earnings?

Oct 28, 2026.

For members

See NXT today

  • Today's verdict on NXT, and why
  • Fair value with cautious, base and optimistic cases
  • The exact price that would change the verdict
  • Which stocks each signal names, the night it fires
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Cite this page: Cluenex, “Nextracker (NXT)”, https://cluenex.com/stocks/nxt/, data as of Oct 10, 2026.