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NextDecade Corporation (NEXT)
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NextDecade Corporation Balance Sheet 2025-2011 | NEXT
Brief balance sheet overview of NextDecade Corporation
The balance sheet is assessed across five available annual reports spanning 2021 to 2025.
Assets rose from $222.1 million to $12.4 billion, a gain of +5,494.6%, while CAGR was about 173.5%. The balance sheet expanded rapidly.
Liability growth of +29,843.3% exceeded asset growth of +5,494.6%, increasing reliance on outside funding.
The equity ratio equals 0.8%, with a starting level of 9%. Stable cash flow is important under this structure.
The net-debt-to-equity ratio reached 87.8x. High leverage materially limits financial flexibility.
Cash accounts for 1.2% of assets versus 11.5% initially. The change indicates the degree of financial flexibility.
The accumulated result is -$760 million and remains below zero. The number alone does not explain whether losses, dividends or repurchases were the main cause.
Conclusion
Taken together, NextDecade Corporation's balance sheet indicators point to elevated risk. Asset growth does not offset weak funding sources.
Annual Balance Sheet NextDecade Corporation
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Net Debt |
8.37 B | 3.78 B | 1.78 B | -61.2 M | - | -22.2 M | -15 M | -3.17 M | -35.7 M | 36.1 K | -325 K | 48.9 K | - | - | - |
Long Term Debt |
8.51 B | 3.92 B | 1.82 B | 465 K | - | - | - | - | - | 60 K | - | - | - | - | - |
Long Term Debt Current |
3.88 M | 2.88 M | 3.14 M | 1.09 M | 596 K | 432 K | 698 K | - | - | - | - | - | - | - | - |
Total Non Current Liabilities |
- | - | - | - | - | 22.9 M | 12 M | 7.44 M | 4.6 M | 4.38 M | 4.32 M | - | - | - | - |
Total Current Liabilities |
1.34 B | 595 M | 552 M | 25.4 M | 8.23 M | 5.14 M | 21.5 M | 12.1 M | 8.4 M | 131 K | 17.3 K | - | - | - | - |
Total Liabilities |
10.1 B | 4.66 B | 2.58 B | 55.6 M | 33.8 M | 28.9 M | 33.6 M | 19.5 M | 13 M | 4.52 M | 4.34 M | 93.2 K | - | - | - |
Retained Earnings |
-760 M | -454 M | -392 M | -230 M | -170 M | - | -134 M | -97.6 M | -55.6 M | -699 K | -265 K | -1.32 K | - | - | - |
Total Assets |
12.4 B | 6.4 B | 3.32 B | 312 M | 222 M | 185 M | 221 M | 169 M | 116 M | 118 M | 118 M | 117 K | - | - | - |
Cash and Cash Equivalents |
144 M | 148 M | 38.2 M | 62.8 M | 25.6 M | 22.6 M | 15.7 M | 3.17 M | 35.7 M | 23.9 K | 325 K | 1.12 K | - | - | - |
Book Value |
2.3 B | 1.74 B | 740 M | 257 M | 188 M | 156 M | 188 M | 149 M | 103 M | 113 M | 113 M | 23.7 K | - | - | - |
Total Shareholders Equity |
95.3 M | 378 M | 288 M | 54.4 M | 19.9 M | 60.4 M | 89.7 M | 83.2 M | 103 M | 68.1 M | 5.43 M | 23.7 K | - | - | - |
Annual performance
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All numbers in USD currency
Quarterly Balance Sheet NextDecade Corporation
| 2026-Q1 | 2025-Q3 | 2025-Q2 | 2025-Q1 | 2024-Q4 | 2024-Q3 | 2024-Q2 | 2024-Q1 | 2023-Q4 | 2023-Q3 | 2023-Q2 | 2023-Q1 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Long Term Debt |
9.36 B | 6.61 B | 5.17 B | 4.55 B | 3.92 B | 3.32 B | 2.83 B | 2.39 B | 1.82 B | 1.38 B | 331 K | 395 K | 465 K | 143 K | 364 K | - | - | 169 K | 333 K | - | - | - | - | - | 3 K | 3 K | 3 K | 3 K | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Liabilities |
10.9 B | 8.03 B | 6 B | 5.17 B | 4.66 B | 4.08 B | 3.48 B | 3.04 B | 2.58 B | 2.08 B | 157 M | 61.9 M | 55.6 M | 48.4 M | 36.7 M | 37.9 M | 33.8 M | 33.8 M | 40.7 M | 32.8 M | 28.9 M | 28.9 M | 28.9 M | 28.9 M | 33.6 M | 33.6 M | 33.6 M | 33.6 M | 19.5 M | 19.5 M | 19.5 M | 19.5 M | 13 M | 13 M | 13 M | 13 M | 7.68 M | 7.68 M | 4.52 M | 4.52 M | 4.34 M | 4.34 M | 4.34 M | 4.34 M | 93.2 K | 93.2 K | 93.2 K | 93.2 K | - | - | - | - | - | - | - | - | - | - | - | - |
Retained Earnings |
-896 M | -713 M | -603 M | -542 M | -454 M | -519 M | -396 M | -363 M | -392 M | -263 M | -378 M | -257 M | -230 M | -211 M | -192 M | -182 M | -170 M | -162 M | -163 M | -152 M | -148 M | -148 M | -148 M | -148 M | -134 M | -134 M | -134 M | -134 M | -97.6 M | -97.6 M | -97.6 M | -97.6 M | -55.6 M | -55.6 M | -55.6 M | -55.6 M | -20.3 M | -20.3 M | -699 K | -699 K | -265 K | -265 K | -265 K | -265 K | -1.32 K | -1.32 K | -1.32 K | -1.32 K | - | - | - | - | - | - | - | - | - | - | - | - |
Total Assets |
13.2 B | 10 B | 7.86 B | 6.89 B | 6.4 B | 5.12 B | 4.76 B | 4.18 B | 3.32 B | 2.9 B | 353 M | 328 M | 312 M | 321 M | 245 M | 222 M | 222 M | 229 M | 229 M | 222 M | 202 M | 202 M | 202 M | 202 M | 221 M | 221 M | 221 M | 221 M | 169 M | 169 M | 169 M | 169 M | 116 M | 116 M | 116 M | 116 M | 75.8 M | 75.8 M | 118 M | 118 M | 118 M | 118 M | 118 M | 118 M | 117 K | 117 K | 117 K | 117 K | - | - | - | - | - | - | - | - | - | - | - | - |
Cash and Cash Equivalents |
143 M | 209 M | 159 M | 131 M | 148 M | 38.2 M | 38.1 M | 251 M | 38.2 M | 446 M | 40 M | 51.1 M | 62.8 M | 109 M | 40.5 M | 22.4 M | 25.6 M | 36.7 M | 40.6 M | 39.3 M | 22.6 M | 22.6 M | 22.6 M | 22.6 M | 15.7 M | 15.7 M | 15.7 M | 15.7 M | 3.17 M | 3.17 M | 3.17 M | 3.17 M | 35.7 M | 35.7 M | 35.7 M | 35.7 M | 12.5 M | 12.5 M | 23.9 K | 23.9 K | 27.1 M | 325 K | 325 K | 325 K | 1.12 K | 1.12 K | 1.12 K | 1.12 K | - | - | - | - | - | - | - | - | - | - | - | - |
Book Value |
2.36 B | 1.98 B | 1.87 B | 1.72 B | 1.74 B | 1.05 B | 1.28 B | 1.13 B | 740 M | 818 M | 196 M | 266 M | 257 M | 272 M | 208 M | 184 M | 188 M | 195 M | 188 M | 189 M | 173 M | 173 M | 173 M | 173 M | 188 M | 188 M | 188 M | 188 M | 149 M | 149 M | 149 M | 149 M | 103 M | 103 M | 103 M | 103 M | 68.1 M | 68.1 M | 113 M | 113 M | 113 M | 113 M | 113 M | 113 M | 23.7 K | 23.7 K | 23.7 K | 23.7 K | - | - | - | - | - | - | - | - | - | - | - | - |
Total Shareholders Equity |
-30.7 M | 154 M | 260 M | 302 M | 378 M | 670 M | 633 M | 417 M | 288 M | 477 M | -19.7 M | 56.8 M | 54.4 M | 76.4 M | 18.3 M | -135 K | 19.9 M | 31.8 M | 35.1 M | 49.4 M | 60.4 M | 60.4 M | 60.4 M | 60.4 M | 89.7 M | 89.7 M | 89.7 M | 89.7 M | 83.2 M | 83.2 M | 83.2 M | 83.2 M | 103 M | 103 M | 103 M | 103 M | 68.1 M | 68.1 M | 5 M | 5 M | 76.6 M | 5.43 M | 5.43 M | 5.43 M | 1.11 M | 23.7 K | 23.7 K | 23.7 K | - | - | - | - | - | - | - | - | - | - | - | - |
Quarterly performance
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All numbers in USD currency
Balance Sheet is a fundamental financial report of NextDecade Corporation, providing a complete picture of the company’s financial position at a specific point in time. Unlike the income statement, which records the results of operations over a certain period, the balance sheet shows what assets the company owns, what liabilities it has to creditors, and what equity is available to the owners.
For an investor, the balance sheet is important because it allows assessing the company’s financial stability, understanding how much debt it carries, and how dependent it is on borrowed financing. It helps calculate key liquidity and leverage ratios. When analyzing, attention should be paid to the debt-to-equity ratio (Debt/Equity), the amount of cash on the balance sheet, and the ratio of current liabilities to liquid assets.
Features of balance sheet analysis- Vertical and horizontal analysis
Vertical analysis shows the structure of the balance sheet as a percentage of total assets or liabilities, while horizontal analysis shows the dynamics of changes over multiple periods. - Asset quality
It is important to evaluate not only the amount of assets but also their liquidity and realizability. - Accounting for off-balance sheet liabilities
Some liabilities may not be directly reflected in the balance sheet, which requires additional attention.
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