NEXTDC LIMITED (NXT)
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NXT

NXT - NEXTDC LIMITED

FNArena Sector : Cloud services
Year End: June
GICS Industry Group : Software & Services
Debt/EBITDA: 14.84
Index: ASX100 | ASX200 | ASX300 | ALL-ORDS | ALL-TECH

NEXTDC owns and operates carrier-neutral data centres and digital infrastructure platforms in Australia and, from 2026, Southeast Asia through KL1 Kuala Lumpur. It provides colocation, connectivity and cloud-adjacent services.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$12.72

02 Sep
2026

-0.510

OPEN

$13.00

-3.85%

HIGH

$13.12

3,627,625

LOW

$12.70

TARGET
$19.792 55.6% upside
Franking for last dividend paid out: 0%
OTHER COMPANIES IN THE SAME SECTOR
3DP . AIM . AXQ . DGT . DGT . DUB . DUG . DXN . ERD . FCL . FCT . IFT . IOD . MAQ . MP1 . RCL . SDR . TNE . WRK . WTC . XPN .
FNARENA'S MARKET CONSENSUS FORECASTS
NXT: 1
Title FY25
Actual		 FY26
Actual		 FY27
Forecast		 FY28
Forecast
EPS (cps) xxx 12.5 - 21.6 xxx
DPS (cps) xxx 0.0 0.0 xxx
EPS Growth xxx N/A N/A xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A N/A xxx
Dividend Yield xxx N/A 0.0% xxx
Div Pay Ratio(%) xxx N/A N/A xxx

Dividend yield today if purchased 3 years ago: 0.00%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 0.00

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages
HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202120222023202420252026
EPS Basic xxxxxxxxxxxxxxx12.5
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx496.5 M
Book Value Per Share xxxxxxxxxxxxxxx801.5
Net Operating Cash Flow xxxxxxxxxxxxxxx99.9 M
Net Profit Margin xxxxxxxxxxxxxxx16.53 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202120222023202420252026
Return on Capital Employed xxxxxxxxxxxxxxx1.60 %
Return on Invested Capital xxxxxxxxxxxxxxx1.11 %
Return on Assets xxxxxxxxxxxxxxx1.03 %
Return on Equity xxxxxxxxxxxxxxx1.60 %
Return on Total Capital xxxxxxxxxxxxxxx-0.49 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-1,976.3 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 202120222023202420252026
Short-Term Debt xxxxxxxxxxxxxxx8 M
Long Term Debt xxxxxxxxxxxxxxx3,351 M
Total Debt xxxxxxxxxxxxxxx3,359 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx876 M
Price To Book Value xxxxxxxxxxxxxxx1.82

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202120222023202420252026
Capex xxxxxxxxxxxxxxx2,107.8 M
Capex % of Sales xxxxxxxxxxxxxxx424.54 %
Cost of Goods Sold xxxxxxxxxxxxxxx489 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx43 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx3,262 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

0.8

No. Of Recommendations

6
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

UBS

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Morgans

31/08/2026

3

Downgrade to Hold from Accumulate

$15.00

17.92%

Following NextDC's FY26 results, Citi raises its FY27 and FY28 earnings (EBITDA) forecasts by 10% and 25%, respectively, reflecting a faster ramp-up of contracted capacity.

Despite meaningful medium-term upside, it's felt funding requirements remain a concern until greater progress is made on capital recycling.

Morgans cuts its target to $15.00 from $15.50 and downgrades to Hold from Accumulate.

First Take: Morgans' quick assessment is that NextDC's FY26 performance, released yesterday after the close of trade, is slightly better than expectations.

Overall, commentary suggests the shares should be positively supported on a "good" result and outlook.

The data centres operator reported an $82m positive NPAT in FY26 but Morgans explains this included $100m-plus in gains on M3 and S4 sites which were revalued in accordance with revised accounting standards.

FORECAST
Morgans forecasts a full year FY27 dividend of 0.00 cents and EPS of minus -42.30 cents.
Morgans forecasts a full year FY28 dividend of 0.00 cents and EPS of minus -45.00 cents.

Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Citi

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

1

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Canaccord Genuity

22/04/2026

1

Buy

$22.55

77.28%

Canaccord Genuity maintains a Buy rating and raises the price target for NextDC to $22.55 following the company's largest-ever contract win.

Commentary posits securing 250MW of new capacity at the S4 site provides significantly enhanced earnings visibility over the next four to five years.

The analysts observe the business is now tracking towards a contracted EBITDA exceeding $1bn per year, likely achieving a full run-rate by the 2030 financial year.

Funding for this massive expansion is secured through a $1.5bn equity raise and an incremental $700m in hybrid securities.

Revised estimates for the 2028 financial year include an upgraded EBITDA forecast of $632m to reflect early contributions from the new capacity. 

FORECAST
Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents and EPS of 0.00 cents.
Access Extra Coverage Research History >

NXT STOCK CHART

FNArena News on NXT

1
NextDC’s $1bn Profit By FY30

Sep 03 2026 - Australia
2
FNArena Corporate Results Monitor – 28-08-2026

Aug 28 2026 - Australia
3
Rudi’s View: Beats, Misses And Early AI Signals

Aug 19 2026 - Rudi's View
4
July In Review: Australia Beats AI & The USA

Aug 05 2026 - Australia
5
Rudi’s View: Final Preparations For August

Aug 05 2026 - Rudi's View

Latest Cloud services News

1
NextDC’s $1bn Profit By FY30

Sep 03 2026 - Australia
2
Latitude Contracts Transform Megaport’s Outlook

May 19 2026 - Small Caps
3
Market Concerns Eclipse NextDC’s Growth Outlook

Mar 13 2026 - Australia
4
WiseTech Juggling AI Risks And Growth Levers

Mar 11 2026 - Australia
5
Rudi’s View: Is Higher Volatility Now A Permanent Feature?

Feb 18 2026 - Rudi's View
6
Treasure Chest: WiseTech Global

Feb 10 2026 - Treasure Chest
7
No Respite For NextDC (Amidst General Inertia)

Dec 10 2025 - Australia
8
Re-Rating Ahead For Fineos Corp?

Oct 23 2025 - Small Caps
9
DigiCo Deals Diminish Doubts

Oct 15 2025 - Small Caps
10
Australia’s Data Centre Boom Marches On

Oct 09 2025 - Australia