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: 5.9
Index: ASX100 | ASX200 | ASX300 | ALL-ORDS | ALL-TECH

NextDC owns and operates independent data centres in Australia. It provides connectivity services and data centre management along with cloud services. It was founded and listed in 2010.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$17.75

17 Sep
2025

0.210

OPEN

$17.55

1.20%

HIGH

$17.82

2,199,190

LOW

$17.44

TARGET
$20.10 13.2% upside
Franking for last dividend paid out: 0%
OTHER COMPANIES IN THE SAME SECTOR
3DP . AIM . DGT . DUB . DUG . DXN . ERD . FCL . FCT . IFT . MAQ . MP1 . RCL . SDR . TNE . WTC . XPN .
FNARENA'S MARKET CONSENSUS FORECASTS
NXT: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx - 9.6 - 18.0 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 © 2025 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx-9.6
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx427.2 M
Book Value Per Share xxxxxxxxxxxxxxx647.3
Net Operating Cash Flow xxxxxxxxxxxxxxx212.9 M
Net Profit Margin xxxxxxxxxxxxxxx-14.17 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx-1.57 %
Return on Invested Capital xxxxxxxxxxxxxxx-1.17 %
Return on Assets xxxxxxxxxxxxxxx-1.11 %
Return on Equity xxxxxxxxxxxxxxx-1.57 %
Return on Total Capital xxxxxxxxxxxxxxx-0.07 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-1,356.2 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 202020212022202320242025
Short-Term Debt xxxxxxxxxxxxxxx8 M
Long Term Debt xxxxxxxxxxxxxxx1,199 M
Total Debt xxxxxxxxxxxxxxx1,206 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx244 M
Price To Book Value xxxxxxxxxxxxxxx2.24

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx1,595.8 M
Capex % of Sales xxxxxxxxxxxxxxx373.54 %
Cost of Goods Sold xxxxxxxxxxxxxxx393 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx38 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx0 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

0.9

No. Of Recommendations

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

Morgans

xx/xx/xxxx

2

xxxxxxxxx xx xxxxxxxxxx xxxx xxx

$xx.xx

xx.xx%

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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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UBS

01/09/2025

1

Buy

$21.45

20.85%

The introduction of AI-related Hyperscaler contracts has materially accelerated NextDC's activation profile, faster than UBS had anticipated. Of the 134MW contracted but not activated, NextDC  will activate 115MW over FY26/27 to 226MW, a 26% uplift in activation versus consensus.

The accelerated activation has driven 13% earnings upgrades in FY27. In UBS' view, the structural AI thematic is reaccelerating, cloud remains very strong and we are likely to go back into a period of investors wanting to increase exposure to both.

The broker maintains NextDC as one of its Key APAC Buy recommendations. Target rises to $21.45 from $20.20.

FORECAST
UBS forecasts a full year FY26 dividend of 0.00 cents and EPS of minus -23.00 cents.
UBS forecasts a full year FY27 dividend of 0.00 cents and EPS of minus -18.00 cents.

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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Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

2

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

Wilsons

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Canaccord Genuity

04/09/2025

1

Buy

$21.70

22.25%

Canaccord Genuity comments the highlight of NextDC's FY25 result was confirmation of billing conversion timing, the prospect of material new contracts, and visible funding solutions for mega-projects (S4/S7).

FY26 net revenue guidance met Canaccord Genuity's forecast and EBITDA was in line but 4% ahead of the consensus. The company exited FY25 at 111MW billing, and this is expected to double in two years as the forward book converts to revenue generation.

The JV model for S4/S7 project is gaining traction, and management indicated potential for high-teens equity return due to a capital-light structure and leverage at the JV level. Financial close is targeted within 12–18 months.

The broker lifted FY27 EBITDA forecast by 16%, representing 48% y/y rise, and FY28 is forecast to grow 20%.

Buy. Target unchanged at $21.70.

FORECAST
Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of minus -10.80 cents.
Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents and EPS of minus -10.70 cents.
Access Extra Coverage Research History >

NXT STOCK CHART

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