Nextracker Inc. Class A Common Stock (NXT)

Operating return on assets (Operating ROA)

		Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021
Operating income (ttm)	US$ in thousands	639,112	714,479	712,715	673,332	587,118	357,026	267,216	212,596	168,485	135,480	93,924	74,531	65,907	99,912	124,388	145,841	158,532
Total assets	US$ in thousands	3,192,520	2,983,560	2,768,660	2,626,930	2,518,780	2,095,120	2,033,560	1,656,870	1,419,680	1,259,700	1,287,760	1,129,500	1,017,290	1,017,290	944,915	976,958	880,969
Operating ROA		20.02%	23.95%	25.74%	25.63%	23.31%	17.04%	13.14%	12.83%	11.87%	10.75%	7.29%	6.60%	6.48%	9.82%	13.16%	14.93%	18.00%

March 31, 2025 calculation

Operating ROA = Operating income (ttm) ÷ Total assets
= $639,112K ÷ $3,192,520K
= 20.02%

The operating return on assets (ROA) of Nextracker Inc. Class A Common Stock has exhibited fluctuations over the analyzed period. Starting at a robust 18.00% as of March 31, 2021, the operating ROA gradually decreased, reaching its lowest point of 6.48% by March 31, 2022. Subsequently, the ROA showed a slight improvement, hovering around the 6-7% range until December 31, 2022, when it notably increased to 10.75%.

From there, the operating ROA continued to rise steadily, surpassing the 20% mark by March 31, 2025. Noteworthy peaks in performance were observed on June 30, 2024 (25.63%) and September 30, 2024 (25.74%). Overall, the operating ROA trended positively towards the end of the period, reflecting efficiency in utilizing assets to generate operating income.