Where Will Nextpower (NXT) Stock Be in 1 Year?

Nextpower (NASDAQ: NXT), the energy technology company formerly known as Nextracker, has roughly quadrupled in value since its IPO on Feb. 9, 2023. Let's examine what it does, why it has attracted so much attention, and whether it can sustain that momentum over the next 12 months.

How did Nextpower evolve over the past year?

When the company went public as Nextracker, it primarily sold solar tracking systems that automatically adjusted solar panels to follow the sun throughout the day. That upgrade enables solar panels to generate roughly 15% to 25% more energy than stationary fixed-tilt systems.

Image source: Getty Images.

Nextracker controlled 26% of the solar tracking systems market in 2024, according to Wood Mackenzie, putting it in first place ahead of Arctech Solar, Gamechange Solar, PV Hardware, and Array Technologies (NASDAQ: ARRY). Its systems are especially popular in sunny regions, such as the Southwest U.S., the Middle East, India, and Latin America.

In 2024 and 2025, Nextracker acquired three companies to support the launch of its dedicated artificial intelligence (AI) and robotics division, which occurred in July 2025. It appointed Dr. Francesco Borrelli, a professor at UC Berkeley, to lead the new unit as its first Chief AI and Robotics Officer.

Last November, Nextracker rebranded itself as Nextpower to reflect its expansion and evolution into a full-platform company that provides an "integrated portfolio of advanced technologies and services for utility-scale solar power plants".

As Nextpower, it aims to provide a wide range of structural, electrical, and digital solutions that last through the entire lifecycle of advanced power plants -- including its design, construction, operations, and maintenance. It plans to ship its first utility-scale power conversion systems (PCS), which enable the compatibility of electricity generated from solar panels with power grids.

These systems will complement Nextpower's existing products -- including its structural hardware, electrical balance-of-systems (eBOS) solutions, and AI-enabled digital tools. That expansion could turn it into a "one-stop shop" for solar power plants.

How fast is Nextpower growing?

From fiscal 2022 to fiscal 2025 (which ended last March), Nextpower's revenue grew at a CAGR of 27% from $1.46 billion to $2.96 billion. Its adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) increased at a CAGR of 103% from $92.3 million to $776.5 million, and its net income surged tenfold from $50.9 million to $509.2 million.

New decarbonization initiatives, more generous government incentives, and cheaper solar modules all generated strong tailwinds for Nextpower's business. To meet that growing demand, it opened a dedicated domestic solar tracker manufacturing facility in Las Vegas in 2023. In 2024, it launched a new solar tracker produced with recycled steel in electric furnaces, which reduced the carbon footprint of its manufacturing process by up to 35%.

To capitalize on the solar market's secular growth, Nextpower acquired more companies to support its aforementioned transformation and rebranding, formed a joint venture (Nextpower Arabia) to support its expansion into the Middle East and North Africa, opened a Southeast regional hub in Nashville, and doubled its domestic solar tracker fabrication capacity. Its investments in domestic manufacturing should reduce its dependence on imported components, insulate it from tariffs, and allow it to earn more clean-energy tax credits.

Where will Nextpower's stock be in a year?

From fiscal 2025 to fiscal 2028, analysts expect Nextpower's revenue to grow at a CAGR of 14% to $4.35 billion, its adjusted EBITDA to increase at a CAGR of 10% to $1.03 billion, and its net income to rise at a CAGR of 10% to $669 million.

The company's evolution into a one-stop shop for integrated energy solutions, along with the ongoing expansion of the solar energy market and additional acquisitions, is expected to drive steady growth. By fiscal 2030, it aims to generate $4.8 billion to $5.6 billion in revenue. It expects roughly a third of that revenue to come from its non-tracker products and services.

With an enterprise value of $13.7 billion, Nextpower looks like a bargain at 15 times next year's adjusted EBITDA. It's still being valued as a cyclical solar company rather than a higher-growth energy technology company. Still, it could command a higher valuation if it continues to expand its ecosystem and diversify its business beyond solar trackers. As investors reassess Nextpower's business, I believe its stock with gradually head higher over the next 12 months.

Leo Sun has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.