Forensic Analysis · Semiconductors · as of Aug 11, 2026
Nextpower Inc. (NXT)
A forensic read on Nextpower Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
C · Mixed — selective
Forensic grade
Safe
Financial health
11.8
Distress distance
Clean
Earnings quality
2
Forensic signals
25.5
P / E (ttm)
25.1%
ROE
$15.7B
Market cap
20.3%
Revenue growth
This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.
Nextpower Inc. earns a C (Mixed — selective) forensic quality grade, and its balance-sheet distress test reads 11.8, placing it in the Safe zone. 2 forensic signals were flagged in its latest SEC filings, led by accruals ratio (% of noa).
What the filings flag
+35.9%
FY2025→FY2026
Accruals ratio (% of NOA).Net operating assets grew +35.9% relative to their own average in FY2026 — scaled by NOA itself, not total assets (see the Forensic Screens card's differently-scaled Sloan Accrual Ratio for that read). Accruals are building sharply — a large slice of profit sits in operating assets, not cash; Richardson/Sloan link high accruals to weaker future returns as they reverse. The build is led by inventory up +25% against +23% in cost of sales and payables paid down 9% against +23% in cost of sales. This is the third straight fiscal year of building accruals — a multi-year streak is a materially stronger tell than a single year's move. The cash-flow cross-check is more mixed: reported earnings ran in line with operating cash by 2% of net operating assets, diverging from the balance-sheet accrual read.
+1.5%/yr
FY2023–FY2026
Share-count dilution.Diluted share count changed +5% over the last 3 years to FY2026 (+1.5%/yr). The count is growing: more stock was issued than repurchased over this window, so aggregate results grew faster than their per-share equivalents. That's ~1.5% shaved off per-share growth every year — total profit has to grow that much just to keep earnings-per-share flat, and a stake held since FY2023 has been diluted ~4%.
Key fundamentals
Latest Revenue$3.56B
Revenue Growth YoY+20.3%
Revenue CAGR (3yr)+23.2%
Net Margin16.5%
Free Cash Flow$513.6M
Return on Equity25.1%
Debt / Equity0.00x
The forensic grade and screens above are free — no account needed. Want the AI investment read on top — the 0–100 rating, thesis, bull-vs-bear, red flags and the 12-month scenario, written from Nextpower Inc.'s actual 10-K/10-Q/8-K filings?