olivLaw · US equity research
NextDecade Corporation NEXT
Natural Gas Transmisison & Distribution · SIC 4923 · Vertical: Natural Gas Transmisison & Distribution (SIC 4923)
NextDecade is building an LNG liquefaction and export facility near Brownsville, Texas, with five trains under construction and expected capacity of about 30 MTPA. First LNG from Train 1 is expected in the first half of 2027, so the company remains in construction and development with no operating revenue yet.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, NextDecade Corporation (NEXT) stock was 6.25 USD (−6.72% on the day), with market capitalisation 1.7 bn USD, P/E 129.9 on diluted EPS of 0.05 USD over the last 12 months, beta 0.59, 52-week range 4.80–9.12 USD. Latest reported quarter (Q3 2026): revenue of 0 USD, net income of 573.8 m USD, diluted EPS 0.54 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 44.3
- weak (30–45)
- Bollinger (20, 2)
- 5.71 – 7.23
- in the lower half of the band · %B 0.36 · band width 23.6%
- SMA 50 / 200
- 6.81 / 6.97
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.01 / -0.06
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −4.9% | −1.1% | −3.8 pp | — |
| 3 months | −2.6% | −0.5% | −2.2 pp | — |
| 6 months | −16.4% | +4.4% | −20.8 pp | — |
| Year to date | +18.6% | +12.3% | +6.3 pp | — |
| 1 year | +4.6% | +13.5% | −8.9 pp | +3.8% |
| 3 years | +40.1% | +76.4% | −36.3 pp | +35.8% |
| 5 years | +66.7% | +63.7% | +3.0 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q3 2026 · 30 Sept 2026
Quarterly statements · USD
| Fiscal year | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Research & development | 956.0 k | 307.0 k | 1.2 m | 2.9 m | 3.6 m | 2.1 m | 2.9 m | 2.2 m |
| Operating income | -44.3 m | -51.9 m | -56.3 m | -72.0 m | -45.8 m | -55.1 m | -54.6 m | -82.9 m |
| Depreciation & amortisation | 3.2 m | 3.1 m | 393.0 k | 393.0 k | 10.7 m | 3.0 m | 7.9 m | 18.5 m |
| Interest expense | 20.1 m | 27.2 m | 31.6 m | 40.3 m | 70.9 m | 79.2 m | 90.8 m | 69.3 m |
| Income tax | — | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net income | 481.4 m | -245.2 m | -70.6 m | -184.8 m | 71.0 m | -195.0 m | -60.2 m | 573.8 m |
| Diluted EPS | 1.85 ≈ | -0.34 | -0.23 | -0.42 | 0.27 ≈ | -0.51 | -0.25 | 0.54 |
| Operating cash flow | -8.9 m | -68.8 m | -3.9 m ≈ | -76.0 m ≈ | -20.7 m | -110.8 m | -17.2 m ≈ | 111.4 m ≈ |
| Capex | 694.6 m | 770.0 m | 731.6 m ≈ | 1.4 bn ≈ | 2.0 bn | 1.2 bn | 980.7 m ≈ | 1.2 bn ≈ |
| Share repurchases | 125.0 k | 49.0 k | 42.0 k ≈ | 15.5 m ≈ | 1.4 m | 18.0 k | 0 ≈ | 4.7 m ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 80 percentile of its own 5-quarter history (min 5.7, median 8.5, max 132.0; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Revenue YoY | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
| Net income | -42.0 m | -35.9 m | -14.3 m | -22.0 m | -60.1 m | -221.6 m | 277.4 m | -429.6 m |
| Net income YoY | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | −254.9% |
| Diluted EPS | unavailable | unavailable | unavailable | -0.34 | -0.65 | -0.94 | -0.24 | -1.17 |
| Diluted EPS YoY | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
| net % | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
| Free cash flow | -41.9 m | -61.0 m | -58.6 m | -30.1 m | -73.8 m | -1.8 bn | -2.7 bn | -5.0 bn |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 143.8 m USD
- Financial debt
- 8.5 bn USD
- Net debt
- 8.4 bn USD
- Equity
- 2.3 bn USD
- Total assets
- 12.4 bn USD
- Debt / equity
- 3.70x
- Current ratio
- 0.54x
- ROE
- -21.2%
- ROA
- -4.6%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (USD)
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 | 0 | 0 | SEC (XBRL)· 02 Mar 2026verified |
| Research & development | — | — | 4.1 m | 4.9 m | 8.3 m | 8.0 m | SEC (XBRL)· 02 Mar 2026verified |
| Operating income | -22.0 m | -19.5 m | -54.5 m | -122.7 m | -171.1 m | -225.9 m | SEC (XBRL)· 02 Mar 2026verified |
| Depreciation & amortisation | — | — | — | 6.3 m | 12.7 m | 12.1 m | SEC (XBRL)· 02 Mar 2026verified |
| EBITDA | — | — | — | -116.4 m ≈ | -158.4 m ≈ | -213.8 m ≈ | SEC (XBRL)· 02 Mar 2026derived |
| Interest expense | — | — | 0 | 50.3 m | 87.5 m | 170.0 m | SEC (XBRL)· 02 Mar 2026verified |
| Income tax | 0 | 0 | 0 | — | — | 0 | SEC (XBRL)· 02 Mar 2026verified |
| Net income | -14.3 m | -22.0 m | -60.1 m | -221.6 m | 277.4 m | -429.6 m | SEC (XBRL)· 02 Mar 2026verified |
| Diluted EPS | — | -0.34 | -0.65 | -0.94 | -0.24 | -1.17 | SEC (XBRL)· 02 Mar 2026verified |
| Weighted average diluted shares | 117.5 m | 119.2 m | 130.1 m | 194.6 m | 258.5 m | 262.2 m | SEC (XBRL)· 02 Mar 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 22.6 m | 25.6 m | 62.8 m | 38.2 m | 148.1 m | 143.8 m | SEC (XBRL)· 02 Mar 2026verified |
| Current assets | 23.3 m | 26.4 m | 63.9 m | 314.5 m | 412.6 m | 718.0 m | SEC (XBRL)· 02 Mar 2026verified |
| Property, plant & equipment, net | 161.7 m | 173.8 m | 218.6 m | 2.4 bn | 5.0 bn | 10.6 bn | SEC (XBRL)· 02 Mar 2026verified |
| Total assets | 201.7 m | 222.1 m | 312.4 m | 3.3 bn | 6.4 bn | 12.4 bn | SEC (XBRL)· 02 Mar 2026verified |
| Accounts payable | 207.0 k | 281.0 k | 1.1 m | 243.1 m | 244.6 m | 443.9 m | SEC (XBRL)· 02 Mar 2026verified |
| Short-term debt | — | — | 0 | — | — | — | SEC (XBRL)· 13 Nov 2023verified |
| Long-term debt | — | — | 0 | 1.8 bn | 3.9 bn | 8.5 bn | SEC (XBRL)· 02 Mar 2026verified |
| Current liabilities | 5.1 m | 8.2 m | 25.4 m | 552.4 m | 595.1 m | 1.3 bn | SEC (XBRL)· 02 Mar 2026verified |
| Total liabilities | 28.9 m | 33.8 m | 55.6 m | 2.6 bn | 4.7 bn | 10.1 bn | SEC (XBRL)· 02 Mar 2026verified |
| Equity | 60.4 m † | 19.9 m | 54.4 m | 740.4 m | 1.7 bn | 2.3 bn | SEC (XBRL)· 02 Mar 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -26.3 m | -18.0 m | -40.1 m | -73.6 m | -95.6 m | -169.4 m | SEC (XBRL)· 02 Mar 2026verified |
| Capex | 32.4 m | 12.1 m | 33.8 m | 1.7 bn | 2.6 bn | 4.8 bn | SEC (XBRL)· 02 Mar 2026verified |
| Free cash flow | -58.6 m ≈ | -30.1 m ≈ | -73.8 m ≈ | -1.8 bn ≈ | -2.7 bn ≈ | -5.0 bn ≈ | SEC (XBRL)· 02 Mar 2026derived |
| Investing cash flow | 18.5 m | -18.5 m | -40.9 m | -1.8 bn | -2.6 bn | -4.9 bn | SEC (XBRL)· 02 Mar 2026verified |
| Financing cash flow | 14.6 m | 39.4 m | 118.2 m | 2.1 bn | 2.8 bn | 5.3 bn | SEC (XBRL)· 02 Mar 2026verified |
| Share repurchases | 346.0 k | 284.0 k | 3.3 m | 9.6 m | 6.7 m | 16.9 m | SEC (XBRL)· 02 Mar 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
Risk
Valuation
olivLaw classification
- score weight coverage: 52.1% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 1.7 bn USD
Key indicators
Coverage and freshness
Score by group
52% · Insufficient data
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 0.64 – 0.91 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · input data missing
- Peers: EV/EBITDAunavailable · the base of the ratio is not positive
- Peers: P/E0.64 – 0.91 (Mid 0.76)4 companies used · median multiple 15.8x · quartiles 13.4x – 19.0xCPK, OKE, RGCO, SWX
- Dividend discount (DDM)unavailable · input data missing
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Insufficient data
Minimum-evidence gate: score weight coverage: 52.1% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | -1.7% | 0 (vs peers) | 20% |
| Net margin · Quality | unavailable | unavailable | — |
| FCF conversion · Quality | -1,379.1% | 0 (on a fixed band) | 12% |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | -0.8x | 0 (on a fixed band) | 12% |
| Current ratio · Balance sheet | 0.4x | 0 (on a fixed band) | 8% |
| P/E (TTM) · Valuation | 129.9x | 0 (vs peers) | 20% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | -319.8% | 0 (on a fixed band) | 16% |
| Shareholder yield (distributions) · Returns | 0.4% | 5 (on a fixed band) | 12% |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet0/100 · 2/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality0/100 · 2/3 factors with a value
- Returns· partial5/100 · 1/2 factors with a value
- Valuation0/100 · 2/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
NEXTDECADE CORPORATION (NEXT). Latest full fiscal year: 2025; data up to 2026-09-30.
Figures computed from the financial statements: revenue 0 USD in 2025; ROE 292.6%.
The estimated value range is 0.64–0.91 USD per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 0.76 USD, the price of 6.25 USD leaves a potential of -87.9% (value / price − 1) and a margin of safety of -723.6% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
Insufficient data for a verdict (score weight coverage: 52.1% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
No signal among the computed factors. That is not an absence of risk: factors without data were not assessed, and business risks (margins, inventory, demand) are in the source-based analysis.
What contradicts it
- ROIC: -1.7%
- FCF conversion: -1,379.1%
- Interest coverage: -0.8x
- Current ratio: 0.4x
- P/E (TTM): 129.9x
- FCF yield: -319.8%
- Shareholder yield (distributions): 0.4%
- The price is above the estimated value range
Not assessed (insufficient data or a ratio without meaning): Net margin, Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, EV/EBITDA, Payout ratio (FCF).
Versus the vertical median
Natural Gas Transmisison & Distribution (SIC 4923) · same industry (4-digit SIC) · compared with 6 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| OKEONEOK, Inc. | 55.9 bn | 13.8 | 17.9% | 9.4% | +55.0% | +22% / +29% |
| SWXSouthwest Gas Holdings, Inc. | 6.7 bn | 12.2 | 14.1% | — | +9.6% | +11% / +56% |
| CPKChesapeake Utilities Corp | 3.4 bn | 22.6 | 9.5% | 15.1% | +18.1% | +2% / +48% |
| CTRICenturi Holdings, Inc. | 2.1 bn | 67.1 | 4.0% | 0.9% | +13.1% | −9% / unavailable |
| BIPCBrookfield Infrastructure Corporation | 1.7 bn | — | — | -6.6% | +0.1% | −16% / +24% |
| NEXTNextdecade Corporation | 1.7 bn | 129.9 | 292.6% | — | unavailable | +5% / +40% |
| RGCORGC Resources, Inc. | 248.3 m | 17.8 | 11.7% | 13.1% | +12.6% | +6% / +36% |
1- and 3-year price returns: for NEXT from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Scenarios are not available. input data missing
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 30 Jul 2026; since then the company filed 10-Q (29 Oct 2026).
In brief
NextDecade is building an LNG liquefaction and export facility near Brownsville, Texas, with five trains under construction and expected capacity of about 30 MTPA. First LNG from Train 1 is expected in the first half of 2027, so the company remains in construction and development with no operating revenue yet 12.
SWOT
Strengths
- The company has long-term SPAs with several creditworthy counterparties, providing a base of future contracted revenue 1. Trains 1 through 5 have signed contracts for most of their capacity, and the site benefits from gas access and an uncongested waterway 1.
- Construction is carried out by an experienced contractor under lump-sum EPC contracts, which shift part of the cost and schedule risk to Bechtel 1. Physical progress on the first trains has been reported as in line with or ahead of schedule 12.
- The company has financed Trains 4 and 5 through large project structures with established investment partners 1. This shows access to capital for the next stages of development 1.
Weaknesses
- The company does not generate operating revenue until the facility becomes operational, which creates dependence on external financing 1. Substantial subsidiary debt could limit cash flow available for distributions 1.
- NextDecade holds only a share of Phase 1, Train 4 and Train 5 distributions, and these can be constrained by partner priorities 1. The joint venture structure gives less control over operational decisions 1.
- The number of employees is relatively small for the size of the project, making management of contractors critical 1. Reliance on third parties to complete the project is a structural vulnerability 1.
Opportunities
- Expansion through Trains 6 through 8 could add significant capacity if permits and financing are obtained 12. Demand for new long-term contracts could support this expansion 1.
- Selling early cargoes before long-term SPAs start could generate additional revenue in 2027-2028 1. A carbon capture and storage project could open a separate revenue stream if developed 1.
- If global LNG markets remain firm, the company could negotiate better terms for volumes not yet covered by contracts 1.
Threats
- Construction delays or cost increases could affect the timing of first LNG and cash flow 2. Higher interest rates could make refinancing of debt more expensive 1.
- A challenge to the FERC authorization before the D.C. Circuit could delay the project if the decision is unfavorable 1. Legislative or environmental changes could add compliance costs 1.
- Global competition from companies with greater resources could reduce the company's share of uncontracted volumes 1.
Risks
- Substantial subsidiary debthigh
The subsidiaries have taken on significant debt to build the Rio Grande LNG Facility, which could limit cash flow and compliance with financial covenants 1. Refinancing could take place at higher rates 1.
- Dependence on project completionhigh
Revenue is not expected until the first trains become operational, and delays could postpone distributions 12.
- Need for additional financingmedium
Additional financing is required for the expansion of Trains 6 through 8, which might not be available on acceptable terms 1.
- Joint venture structure risksmedium
Partners may have different interests, and the company has limited control over some decisions and the timing of distributions 1.
- Litigation over FERC authorizationmedium
The intervenors' petition before the D.C. Circuit remains pending, and its outcome could affect the project schedule 1.
Investment thesis
What would need to be true (bull case)
- If Trains 1 through 3 are completed on schedule, first LNG could begin generating early revenue under SPAs already signed 12.
- Long-term contracts with creditworthy counterparties could provide stable revenue once the facility is operating 1.
- Expansion through Trains 6 through 8 could substantially increase the initial capacity if permits and financing are secured 12.
What would break the thesis
- Substantial subsidiary debt could limit distributions to shareholders, particularly if projects are delayed 1.
- Progress on Trains 4 and 5 is still early, which could expose the company to cost increases or delays 2.
- A decision by the D.C. Circuit could delay the project if the outcome is unfavorable 1.
What to watch
- First gas into the facility and progress on Trains 1-3second half of 2026
- First LNG from Train 1first half of 2027
- Completion of the full FERC application for Trains 6-8 expansion2026
- Outcome of the D.C. Circuit proceeding on the FERC authorizationnext 10-K
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 30 Jul 2026; since then the company filed 10-Q (29 Oct 2026).
The business
NextDecade Corporation is a Houston-based energy company focused on constructing and developing a natural gas liquefaction and LNG export facility, the Rio Grande LNG Facility, on the north shore of the Brownsville Ship Channel in south Texas 1. Phase 1, Train 4 and Train 5 include five liquefaction trains with a total expected capacity of about 30 MTPA 1. The company does not expect to generate revenue from liquefaction until the facility is operational, so cash flow depends on completing the projects 1.
The company has long-term SPAs with 14 creditworthy counterparties for about 25.3 MTPA from Trains 1 through 5, with a weighted average term of 19.5 years 1. Pricing combines a fixed fee per MMBtu with a variable fee meant to cover expected natural gas costs 1. Trains 6 through 8 are in development and are wholly owned by NextDecade 1.
Segments
Trains 4 and 5
Final investment decisions for Trains 4 and 5 were taken in September and October 2025 1. By June 2026, Train 4 was 15.5% complete and Train 5 was 9.4% complete 2. NextDecade expects 40% of Train 4 distributions and 50% of Train 5 distributions, rising when partners earn a certain return 1.
Trains 6-8 and development
Trains 6 through 8 are in the permitting stage, and in May 2026 the company filed a formal FERC application for the expansion including Train 6 and an additional marine berth 2. The expansion would add about 18 MTPA once placed in operation 1. The company is also evaluating a potential carbon capture and storage project 1.
Market context
The global LNG market is served by liquefaction facilities worldwide, and NextDecade expects to sell output mainly under long-term contracts indexed to Henry Hub 1. The company has signed agreements with partners including Saudi Aramco, TotalEnergies, JERA, EQT and ConocoPhillips for volumes from Trains 4 and 5 1. Early cargoes for 2027-2028 are expected to achieve a margin of over 3.00 USD per MMBtu, though this depends on gas costs and the market 1.
Competition is global, and companies with longer operating histories and greater financial resources could affect NextDecade's relative position 1. Future results could depend on the company's ability to deliver projects on time and on budget, as well as on natural gas market conditions 1.
Trends
- Long-term demand for US LNGtailwind
Long-term SPAs averaging close to 20 years suggest buyers want stable LNG volumes 1. If global demand stays strong, it could support negotiation of new contracts for Trains 6 through 8 1.
- Physical progress on Trains 1-3tailwind
Physical progress on Trains 1 and 2 and on Train 3 is advanced, which could reduce the risk of delay to first LNG 2. If progress continues, the commissioning phase could start on schedule 2.
- Large project financing requirementsmixed
Trains 4 and 5 were financed through multi-billion dollar project structures with non-recourse debt and investment partners 1. High debt costs and capital market conditions could limit financing for future trains 1.
- Regulatory uncertaintyheadwind
The FERC authorization for the first five trains was reaffirmed after a remand, but intervenors have petitioned the D.C. Circuit to review it 1. An unfavorable decision could delay activities depending on the outcome 1.
Competitive position
NextDecade competes with liquefaction facilities worldwide to supply LNG to the global market, including independent technology-driven companies, state-owned companies, other independent oil and gas companies and utilities 1. Many of these competitors have longer operating histories, greater name recognition and substantially greater financial and technical resources 1.
The company cites advantages such as proximity to Permian Basin and Eagle Ford gas, access to an uncongested waterway and long-term contracts 1. If competitors expand capacity faster, the company's relative position could be affected 1.
- Independent technology-driven LNG liquefaction companies
Competitors offering liquefaction and LNG export capacity, described in the source by category without naming individual firms.
- State-owned LNG companies
State-backed competitors that can supply LNG to the global market, with larger resources and longer operating histories.
- Other independent oil and natural gas companies
Companies that may develop their own LNG chains and compete for the same buyers.
- Utilities and integrated buyers
Players that can trade long-term LNG and compete for the same contracts.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Quarterly report29 Oct 2026
- Current report01 Oct 2026Departure or appointment of officers
- Quarterly report30 Jul 2026
- Current report02 Jul 2026Material agreement · Creation of a direct financial obligation
- Current report18 Jun 2026Material agreement · Creation of a direct financial obligation
- Current report03 Jun 2026Departure or appointment of officers
- Quarterly report01 May 2026
- Proxy statement23 Apr 2026
- Current report15 Apr 2026Departure or appointment of officers
- Annual report02 Mar 2026
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / NextDecade Corporation · 02 Mar 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / NextDecade Corporation · 30 Jul 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / NextDecade Corporation · 28 Jul 2017
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.