Nextracker Inc. Class A Common Stock (NXT)

Debt-to-capital ratio

		Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022	Mar 31, 2021
Long-term debt	US$ in thousands	—	—	—	—	—
Total stockholders’ equity	US$ in thousands	1,628,130	961,013	-3,075,770	501,133	456,047
Debt-to-capital ratio		0.00	0.00	—	0.00	0.00

March 31, 2025 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $—K ÷ ($—K + $1,628,130K)
= 0.00

Based on the data provided, Nextracker Inc. Class A Common Stock has consistently maintained a debt-to-capital ratio of 0.00 from March 31, 2021, to March 31, 2025. This indicates that the company has not utilized any debt in its capital structure during these periods. A debt-to-capital ratio of 0.00 suggests that the company's capital structure is predominantly equity-financed, which may imply lower financial risk and interest expenses. However, it is important to note that for March 31, 2023, the ratio is denoted as "—," which may indicate missing data or a special circumstance. Overall, a consistent 0.00 debt-to-capital ratio reflects Nextracker Inc.'s conservative approach towards leveraging debt in its operations and capitalization.