NextDecade Corp. (NEXT) Financial Statements
Industry: Natural Gas Transmisison & Distribution
In fiscal 2025, NextDecade reported revenue of $0. Net income was -$429.6M, or -$1.17 per diluted share. Operating activities generated -$169.4M of cash, leaving -$5.02B of free cash flow. At fiscal year end, NextDecade held $12.43B in total assets against $10.12B in total liabilities, including $143.8M of cash and equivalents.
Open the full interactive NextDecade financials → Quarterly statements, key ratios, valuation history and price charts.
NextDecade Key Stats
| Share Price | $6.80 |
|---|---|
| Market Cap | $1.80B |
| 52-Week Range | $4.80 – $9.12 |
| Shares Outstanding | 265.0 million (basic, 2026 Q2) |
NextDecade Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $0 | $0 |
| Operating Income | -$22.0M | -$19.5M | -$54.5M | -$122.7M | -$171.1M | -$225.9M |
| Pre-Tax Income | -$14.3M | -$22.0M | -$60.1M | -$162.3M | $277.4M | -$429.6M |
| Income Tax | $0 | $0 | $0 | — | — | $0 |
| Net Income | -$14.3M | -$22.0M | -$60.1M | -$162.3M | $277.4M | -$429.6M |
| Diluted EPS | -$0.24 | -$0.34 | -$0.46 | -$0.94 | -$0.24 | -$1.17 |
NextDecade Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 |
| Net Income | -$109.5M | -$14.1M | -$195.0M | -$65.4M |
| Diluted EPS | -$0.42 | -$0.05 | -$0.51 | -$0.25 |
NextDecade Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $22.6M | $25.6M | $62.8M | $38.2M | $148.1M | $143.8M |
| Current Assets | $23.3M | $26.4M | $63.9M | $314.5M | $412.6M | $718.0M |
| Total Assets | $201.7M | $222.1M | $312.4M | $3.32B | $6.40B | $12.43B |
| Current Liabilities | $5.1M | $8.2M | $25.4M | $552.4M | $595.1M | $1.34B |
| Total Long-Term Debt | — | — | — | $1.82B | $4.04B | $8.83B |
| Total Liabilities | $28.9M | $33.8M | $55.6M | $2.58B | $4.66B | $10.12B |
| Shareholders' Equity | $60.4M | $19.9M | $54.4M | $287.9M | $377.6M | $95.3M |
NextDecade Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | -$26.3M | -$18.0M | -$40.1M | -$73.6M | -$95.6M | -$169.4M |
| Cash From Investing | $18.5M | -$18.5M | -$40.9M | -$1.75B | -$2.57B | -$4.85B |
| Cash From Financing | $14.6M | $39.4M | $118.2M | $2.06B | $2.77B | $5.34B |
| Free Cash Flow | -$58.6M | -$30.1M | -$73.8M | -$1.81B | -$2.66B | -$5.02B |
Figures from NextDecade's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full NextDecade financials page for every line item.
NextDecade Company Profile
| Ticker | NEXT |
|---|---|
| Exchange | Nasdaq |
| Industry | Natural Gas Transmisison & Distribution |
| Headquarters | Houston, Texas |
| Incorporated in | Delaware |
| Fiscal Year End | December 31 |
| SEC Filer Category | Large accelerated filer |
| SEC CIK | 0001612720 |
Frequently Asked Questions
What was NextDecade's revenue in fiscal 2025?
NextDecade (NEXT) reported revenue of $0 for fiscal 2025.
What is NextDecade's annual revenue history?
NextDecade's annual revenue by fiscal year: 2020: $0; 2021: $0; 2022: $0; 2023: $0; 2024: $0; 2025: $0.
What was NextDecade's net income in fiscal 2025?
NextDecade reported net income of -$429.6M for fiscal 2025.
What was NextDecade's earnings per share (EPS) in fiscal 2025?
NextDecade's diluted EPS was -$1.17 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did NextDecade generate in fiscal 2025?
NextDecade generated -$5.02B of free cash flow in fiscal 2025.
What was NextDecade's revenue last quarter?
In its most recent reported quarter (2026 Q2), NextDecade reported revenue of $0.
How much debt does NextDecade have?
NextDecade reported $8.83B of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of NextDecade are outstanding?
NextDecade reported a weighted average of 265.0 million basic shares outstanding in 2026 Q2.
What is NextDecade's market cap?
Based on its latest closing price, NextDecade (NEXT) has a market capitalization of about $1.80B.
When does NextDecade's fiscal year end?
NextDecade's fiscal year end, as registered with the SEC, is December 31.
Where is NextDecade headquartered?
NextDecade lists its business address in Houston, Texas in its SEC filings.