Nextracker Inc. Class A Common Stock (NXT)

Debt-to-capital ratio

		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
Long-term debt	US$ in thousands	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Total stockholders’ equity	US$ in thousands	1,628,130	1,406,550	1,266,000	1,121,390	992,028	-3,117,010	-2,641,020	-3,352,380	-3,075,770	96,258	86,400	527,119	-3,035	-3,035	463,578	508,028	456,047
Debt-to-capital ratio		0.00	0.00	0.00	0.00	0.00	—	—	—	—	0.00	0.00	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

The debt-to-capital ratio of Nextracker Inc. Class A Common Stock has been consistently at 0.00 or not available for the periods from March 31, 2021, to March 31, 2025. This indicates that the company has either not taken on any debt or has kept its debt levels very low relative to its capital during this period. A debt-to-capital ratio of 0.00 signifies that the company's capital structure is primarily funded by equity rather than debt. This may imply a lower financial risk for the company as it is not heavily reliant on debt financing, but it could also suggest missed opportunities for leveraging debt to optimize capital structure or potential growth.