Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data NextDecade Corp files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2016
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Revenue
0
0
0
0
0
0
0
0
0
0
Research and development
4.1
4.89
8.26
8.01
General and administrative
7.3
34.6
35.2
49.1
111
150
202
Operating expenses
8.5
35.6
43
35
22
19.5
54.5
123
171
226
Operating income
-8.5
-35.6
-43
-35
-22
-19.5
-54.5
-123
-171
-226
Interest expense
0
50.3
87.5
170
Interest income
0.33
Other non-operating income
0.06
0.31
1.06
-0.87
7.68
-2.53
-5.6
-99
449
-204
Income tax
0
0
0
0
0
0
Net income to minority interests
0
-59.4
339
-123
Net income
-0.43
-35.3
-42
-35.9
-14.3
-22
-60.1
-222
277
-430
EBITDA
-8.4
-35.5
-42.8
-34.8
-21.8
-19.3
-54.3
-116
-158
-214
EPS, basic
-0.09
-0.35
-0.41
-0.45
-0.24
-0.34
-0.65
-0.94
-0.24
-1.17
EPS, diluted
-0.09
-0.35
-0.41
-0.45
-0.24
-0.34
-0.65
-0.94
-0.24
-1.17
Shares, basic (weighted)
95.7
101
107
109
118
119
130
195
259
262
Shares, diluted (weighted)
95.7
101
107
109
118
119
130
195
259
262
Balance sheet
FY2016
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
12.5
35.7
3.17
15.7
22.6
25.6
62.8
38.2
148
144
Short-term investments
5.06
72.5
62.2
0
Other current assets
0.15
0.18
0.35
0.38
0.27
0.31
0.11
2.09
19.8
11
Total current assets
19.2
42.9
76.9
78.8
23.3
26.4
63.9
315
413
718
Property, plant and equipment
56.2
73.2
92.1
135
162
174
219
2,438
5,020
10,568
Lease right-of-use assets
1.05
0.43
0.59
1.47
171
166
162
Other non-current assets
0.35
6.75
16.3
21.3
28.4
11
15.6
21.7
Total assets
75.8
116
169
221
202
222
312
3,324
6,404
12,426
Accounts payable
1.17
0.73
0.72
11.9
0.21
0.28
1.08
243
245
444
Accrued liabilities
1.54
1.85
3.13
4.22
0.01
4.36
23.2
306
348
888
Short-term debt
0
Total current liabilities
4.93
8.4
12.1
21.5
5.14
8.23
25.4
552
595
1,336
Long-term debt
0.06
0
1,816
3,920
8,511
Lease liabilities
0
0
0
0.47
146
144
142
Other non-current liabilities
0
22.9
23
23
1.82
0
Total liabilities
7.68
13
19.5
33.6
28.9
33.8
55.6
2,583
4,660
10,125
Total debt
0
1,816
4,035
8,827
Paid-in capital
88.4
159
181
224
209
191
289
694
852
893
Retained earnings
-20.3
-55.6
-97.6
-134
-148
-170
-230
-392
-454
-760
Treasury stock
-0.04
-0.69
-1.03
-1.32
-4.59
-14.2
-20.9
-37.9
Other comprehensive income
-0.03
-0.04
Shareholders' equity
68.1
103
83.2
89.7
60.4
19.9
54.4
288
378
95.3
Minority interests
0
453
1,367
2,206
Total equity
68.1
103
83.2
89.7
60.4
19.9
54.4
740
1,744
2,301
Total liabilities and equity
75.8
116
169
221
202
222
312
3,324
6,404
12,426
Shares outstanding
95.7
106
107
117
118
121
144
257
260
265
Cash flow statement
FY2016
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
-8.44
-35.3
-42
-35.9
-14.3
-22
-60.1
-222
277
-430
Depreciation and amortization
0.1
0.11
0.17
0.25
0.2
0.18
0.16
6.31
12.7
12.1
Stock-based compensation
22.7
16.8
-9.65
-0.34
-4.31
7.47
26.6
19.9
39.2
Change in payables
0.27
-0.14
0.12
0.21
-0.37
-0.03
0.68
4.06
-2.22
2.17
Cash from operations
-7.19
-12.8
-23.3
-40.7
-26.3
-18
-40.1
-73.6
-95.6
-169
Capital expenditures
-19.4
-14.8
-18.7
-20.3
-32.4
-12.1
-33.8
-1,738
-2,568
-4,847
Purchases of investments
-5.02
-0.08
-84.6
-66.5
-0.19
0
Sales and maturities of investments
17.1
77
62
0
Cash from investing
-24.4
11.9
-86.2
-16.7
18.5
-18.5
-40.9
-1,753
-2,574
-4,853
Debt issued
0
2,083
3,523
4,701
Debt repaid
0
-233
-1,338
0
Stock issued
0
0.56
115
254
0
0
Share buybacks
-0.04
-0.65
-0.35
-0.28
-3.27
-9.63
-6.7
-16.9
Cash from financing
0.06
24.1
76.9
70
14.6
39.4
118
2,058
2,768
5,337
Net change in cash
-31.6
23.2
-32.5
12.6
6.87
2.94
37.2
232
98.3
314
Free cash flow
-26.6
-27.7
-41.9
-61
-58.6
-30.1
-73.8
-1,811
-2,663
-5,016
Interest paid
0
23.4
3.56
30.1
Key metrics
Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $6.56 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Return on assets (ROA)
-2.5%
Net income / average total assets.
Return on invested capital (ROIC)
-1.7%
Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
Growth
Metric
Value
How it is calculated
Net income growth, 1y
-254.9%
Net income vs the same period a year earlier. Only from a positive base.
Book value growth, 1y
-74.8%
Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y
20.6%
Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y
9.5%
Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y
94.0%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
241.3%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y
128.0%
Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y
1.4%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y
26.3%
Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y
17.4%
Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
0.37x
Current assets / current liabilities.
Quick ratio
0.05x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
0.05x
(Cash + short-term investments) / current liabilities.
Debt / assets
68.5%
Total debt / total assets.
Liabilities / assets
81.5%
Total liabilities / total assets.
Net debt
$10.33B
Total debt - cash - short-term investments. Negative means more cash than debt.
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share
$0.00
Revenue / diluted weighted shares.
FCF per share
-$21.58
Free cash flow / diluted weighted shares.
Operating cash flow per share
-$0.85
Cash from operations / diluted weighted shares.
Book value per share
-$0.22
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
FCF yield
-328.0%
Free cash flow / market cap.
Earnings yield
-22.0%
Net income / market cap (the inverse of P/E).
Shareholder yield
1.0%
(Dividends paid + share buybacks) / market cap.
What was NextDecade Corp's revenue in fiscal 2025?
NextDecade Corp reported revenue of $0.0 for fiscal 2025.
Was NextDecade Corp profitable in fiscal 2025?
No. It reported a net loss of $429.6M.
How much free cash flow did NextDecade Corp generate in fiscal 2025?
Cash from operations of $169.4M minus capital expenditures of $4.85B left free cash flow of -$5.02B.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.