NextDecade

NextDecade

Develops LNG export facilities with CCS

Overview

NextDecade develops and operates liquefied natural gas (LNG) export facilities, led by the Rio Grande LNG terminal in Brownsville, Texas. It liquefies natural gas for export and signs long-term sale and purchase agreements with major energy companies to secure revenue as projects are built and operated. Its differentiator is NEXT Carbon Solutions, which integrates a carbon capture and storage system to capture over 90% of emissions and store more than five million tonnes of CO2 annually, producing a lower-carbon LNG product. The company's goal is to expand LNG export capacity while maintaining stable, long-term contracts with utilities and energy companies and reduce the lifecycle carbon footprint of its LNG.

Significant Headcount Growth

About NextDecade

Simplify's Rating
Why NextDecade is rated
B-
Rated B on Competitive Edge
Rated B on Growth Potential
Rated C on Differentiation

Industries

Industrial & Manufacturing

Energy

Company Size

201-500

Company Stage

IPO

Headquarters

Houston, Texas

Founded

2010

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Simplify's Take

What believers are saying

  • July 2026 refinancing raised $4.6 billion, extending maturities and funding future expansions.
  • NextDecade expects first gas in H2 2026 and Train 1 LNG in H1 2027.
  • May 2026 Train 6 and extra berth filings signal another growth runway beyond Phase 1.

What critics are saying

  • The D.C. Circuit appeal on Rio Grande LNG remains pending in 2026.
  • If judges vacate FERC approvals again, construction stops and first gas slips past 2027.
  • NextDecade still depends on one mega-project; any Train 1 delay cripples enterprise value.

What makes NextDecade unique

  • Rio Grande LNG has 20-year SPAs with Shell, TotalEnergies, Aramco, ADNOC, and JERA.
  • NEXT Carbon Solutions targets over 90% CO2 capture, rare among U.S. LNG exporters.
  • Bechtel is building a 48 MTPA Gulf Coast export complex with train-by-train expansion.

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Funding

Total Funding

$6.4B

Above

Industry Average

Funded Over

8 Rounds

Post IPO Debt funding comparison data is currently unavailable. We're working to provide this information soon!
Post IPO Debt Funding Comparison
Coming Soon

Benefits

Health Insurance

Dental Insurance

Vision Insurance

Unlimited Paid Time Off

Flexible Work Hours

Hybrid Work Options

Paid Vacation

Paid Holidays

Remote Work Options

401(k) Retirement Plan

401(k) Company Match

Wellness Program

Mental Health Support

Conference Attendance Budget

Professional Development Budget

Stock Options

Company Equity

Phone/Internet Stipend

Home Office Stipend

Relocation Assistance

Adoption Assistance

Family Planning Benefits

Fertility Treatment Support

Parental Leave

Maternity Leave

Paternity Leave

Childcare Support

Elder Care Support

Gym Membership

Employee Discounts

Professional Certification Support

Tuition Reimbursement

Training Programs

Mentorship Program

Meal Benefits

Stock Price

Growth & Insights and Company News

Headcount

6 month growth

31%

1 year growth

31%

2 year growth

31%
StockTitan
Jun 25th, 2026
Rio Grande LNG prices $3.5 billion debt sale due 2031-2041

The notes carry 5.25% to 6.15% coupons and close July 2, 2026, with proceeds set to repay borrowings and cover fees and expenses.

The Motley Fool
Jun 19th, 2026
Kinder Morgan vs. NextDecade: which energy stock is a better buy in 2026?

Kinder Morgan vs. NextDecade: which energy stock is a better buy in 2026? One is a steady cash generator, dividend-paying company, while the other is a massive bet on LNG exports. Should you go for growth, or dividend? By Neha Chamaria - Jun 19, 2026 at 12:56PM EST Key points. * Kinder Morgan is an energy infrastructure giant that generates steady cash flows from natural gas and petroleum transportation. * NextDecade is a high-growth development-stage company focused on becoming a significant player in the global LNG export market. * Which energy stock is the better choice for your portfolio as the industry transitions toward cleaner fuel sources? * Motley Fool Issues Rare "Highest Conviction" Buy Alert" The energy sector offers various ways to invest, from established pipeline giants to emerging export players. Kinder Morgan (KMI +0.81%) operates as the backbone of North American energy infrastructure through its vast pipeline network. NextDecade (NEXT 5.77%) is building its future on the Rio Grande liquefied natural gas (LNG) export terminal in Texas. Investors often compare these two energy companies because they both provide critical links in the natural gas value chain, albeit at different stages of maturity. Deciding which one to invest in depends on your personal appetite for risk and income. The case for Kinder Morgan. Kinder Morgan is among the largest midstream energy companies, managing nearly 78,000 miles of pipelines and 136 terminals. The company transports nearly 40% of the natural gas consumed in the U.S., providing essential services to power plants, local distribution companies, and industrial users. Because no single customer accounts for more than 10% of total revenue, the business avoids heavy concentration risk and maintains a diversified stream of service-based income. In FY 2025, Kinder Morgan's revenue grew 12% to $16.9 billion, and net income came in at $3.1 billion. That's a healthy net margin of 18%. The upward trend in revenue and net income suggests that this energy dividend stock is effectively capturing demand as it expands its natural gas and renewable operations. The debt-to-equity ratio was approximately 1.0x as of the December 2025 balance sheet. This metric, which compares total debt to shareholder equity, suggests a balanced financing mix for its capital-intensive operations. During FY 2025, Kinder Morgan generated free cash flow of nearly $3.2 billion, which is the cash remaining after the company pays for its operations and capital expenditures, highlighting its ability to generate consistent cash. The case for NextDecade. NextDecade is a development-stage company focused on the Rio Grande LNG facility in South Texas, which aims to become a major hub for global natural gas exports. The project currently has eight liquefaction trains in various stages of construction or development, targeting a total capacity of approximately 48 million tonnes per annum. The company has already secured long-term purchase agreements with 14 creditworthy customers, providing a foundation for future cash flows once the facility begins commercial operations. Since the Rio Grande facility hasn't commenced its primary shipping operations, NextDecade isn't generating any meaningful commercial revenue yet. It reported a net loss of $306.4 million in FY 2025, reflecting the high overhead and development costs required to bring a massive export terminal online in a competitive global market. The balance sheet as of December 2025 showed a debt-to-equity ratio of roughly 90.8x. This value indicates that the company's total liabilities, including both short-term and long-term debt, significantly exceed its total shareholder equity. Free cash flow for FY 2025 was a negative $5 billion, a figure that reflects the intensive capital spending required to build out the liquefaction trains before any revenue is generated. Risk profile comparison. Kinder Morgan earns fees under long-term contracts and therefore faces little risk from commodity price volatility. But building these pipelines requires massive amounts of money and can saddle the company with debt. Kinder Mirgan must also navigate complex regulatory environments, where decisions by the Federal Energy Regulatory Commission could result in lower tariff rates or forced refunds. Where to invest $1,000 right now. When its analyst team has a stock tip, it can pay to listen. After all, Stock Advisor's total average return is 936% - a market-crushing outperformance compared to 207% for the S&P 500. They just revealed what they believe are the 10 best stocks for investors to buy right now... *Stock Advisor returns as of June 9, 2026 NextDecade faces a different set of challenges, chiefly the risk that its Rio Grande LNG facility could incur cost overruns or construction delays. The project is also subject to ongoing litigation in the D.C. Circuit, where legal challenges to its authorizations could potentially halt progress. Furthermore, the company relies on U.S.-sourced natural gas remaining cheaper than international alternatives to stay competitive against rivals like Cheniere Energy (LNG 1.82%). Valuation comparison. Kinder Morgan appears more attractively valued for conservative investors based on its Forward P/E, whereas NextDecade lacks a traditional P/S ratio. | Metric | Kinder Morgan | NextDecade | Sector Benchmark | | Forward P/E | 21.6x | 23.6x | 21.4x | | P/S ratio | 4.1x | n/a | / | Sector benchmark uses the SPDR XLE sector ETF. Valuation metrics sourced from Financial Modeling Prep (FMP) and may differ from other data providers. Which stock would I buy in 2026? Comparing Kinder Morgan and NextDecade is a choice between a stable, recession-proof income machine and a high-stakes, hyper-growth energy infrastructure play. Kinder Morgan is a $70 billion midstream giant controlling a significant portion of all U.S. natural gas movement. It operates as a toll booth, signing long-term, fee-based take-or-pay contracts with oil and gas producers. Earnings continue to flow even when oil and gas prices fluctuate, making Kinder Morgan fairly resilient to commodity cycles. That also explains why the company can regularly increase dividends - it has done so for nine consecutive years now. KMI & NEXT: performance comparison. KMI (Kinder Morgan) NEXT (NextDecade) Key Financial metrics. KMI - Kinder Morgan + 0.81 % (+ $ 0.26) NEXT - NextDecade - 5.77 % (- $ 0.45) Market Cap 52wk Range $ 25.60 - $ 34.80 Gross Margin Dividend & Yield $1.18 (3.72%) Market Cap 52wk Range $ 4.75 - $ 12.12 Dividend & Yield NextDecade is a more speculative stock, although the upside could be massive. Demand for LNG is projected to rise exponentially in the coming years. Rio Grande is expected to be one of the world's largest LNG export terminals. Although the first LNG shipments aren't expected before 2027, NextDecade has already locked in big energy companies as customers for the bulk of the estimated LNG production from the first few units. That shows the demand for LNG, and the kind of opportunities ahead for NextDecade. If I had the option to buy only one stock today, I'd pick NextDecade simply because of the growth optionality. The LNG stock certainly carries a much higher risk than Kinder Morgan, but both are eventually natural gas plays in the long run. Where things stand now, demand for LNG is expected to skyrocket, especially from markets such as the Asia-Pacific. Is Kinder Morgan a long-term buy right now? Before you buy stock in Kinder Morgan, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now... and Kinder Morgan wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of its recommendation, you'd have $417,305!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of its recommendation, you'd have $1,293,148!* Now, it's worth noting Stock Advisor's total average return is 936% - a market-crushing outperformance compared to 207% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors. *Stock Advisor returns as of June 19, 2026.

Business Wire
Jun 3rd, 2026
NextDecade Corporation announces appointment of John Zuklic as new Chief Financial Officer.

NextDecade Corporation announces appointment of John Zuklic as new Chief Financial Officer. HOUSTON-(BUSINESS WIRE)-NextDecade Corporation (NextDecade or the Company) (NASDAQ: NEXT) announced today the appointment of John Zuklic as the Company's new Chief Financial Officer, effective July 6, 2026. Mike Mott, who is currently the Company's Interim Chief Financial Officer, will return to his previous role as Senior Vice President of Enterprise Transformation. John Zuklic brings significant expertise after more than 30 years in the energy industry, including senior finance roles in capital-intensive businesses. His experience includes financial strategy, capital structuring, treasury, corporate finance, stakeholder engagement, building and transforming organizations, and strengthening governance and risk oversight. Zuklic joins NextDecade from Citgo Petroleum Corporation (CITGO), where he held the position of Chief Financial Officer since 2020. At CITGO, he led the finance organization and was responsible for setting and executing financial strategy, recapitalizing the company, and building functions to strengthen forecasting, governance, and decision support. Before his tenure at CITGO, Zuklic spent much of his career at Phillips 66 and its predecessor, ConocoPhillips. During his time at these companies, he progressed through various roles of increasing scope across treasury, corporate finance, risk management, and enterprise transformation. Following the spinoff of Phillips 66 from ConocoPhillips, Zuklic served as Vice President and Treasurer, leading global treasury operations, managing substantial investment and insurance portfolios, and executing enterprise-wide financing initiatives. Later, he served as Vice President of ERP Transformation, where he oversaw the implementation of a next-generation enterprise resource planning system. "John is an experienced strategic and operational leader, with a strong track record of guiding large energy infrastructure companies through growth and transformation," said Matt Schatzman, NextDecade Chairman and Chief Executive Officer. "I look forward to partnering with John as we transform NextDecade from an LNG development company into an LNG operating company with incredible organic growth opportunities." About NextDecade Corporation NextDecade is committed to providing the world access to reliable, cleaner energy. We are focused on delivering secure and affordable energy through the safe and efficient development and operation of natural gas liquefaction capacity at Rio Grande LNG. Through our subsidiaries, we are constructing and developing the Rio Grande LNG natural gas liquefaction and export facility near Brownsville, Texas, with approximately 48 MTPA of potential liquefaction capacity currently under construction or in development, sufficient space at the site for up to 10 liquefaction trains, and a potential carbon capture and storage project. NextDecade's common stock is listed on the Nasdaq Stock Market under the symbol "NEXT." NextDecade is headquartered in Houston, Texas. For more information, please visit www.next-decade.com. Forward-Looking Statements This press release contains forward-looking statements within the meaning of U.S. federal securities laws. The words "anticipate," "contemplate," "estimate," "expect," "project," "plan," "intend," "believe," "may," "might," "will," "would," "could," "should," "can have," "likely," "continue," "design," "assume," "budget," "guidance," "forecast," and "target," and other words and terms of similar expressions are intended to identify forward-looking statements, and these statements may relate to the business of NextDecade and its subsidiaries. These statements have been based on assumptions and analysis made by NextDecade in light of current expectations, perceptions of historical trends, current conditions and projections about future events and trends and involve a number of known and unknown risks, which may cause actual results to differ materially from expectations expressed or implied in the forward-looking statements. Although NextDecade believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that the expectations will prove to be correct. NextDecade's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in NextDecade's periodic reports that are filed with and available from the Securities and Exchange Commission. Additionally, any development of additional expansion trains at the Rio Grande LNG Facility or CCS projects remains contingent upon receipt of requisite governmental approvals, execution of definitive commercial and financing agreements, securing all financing commitments and potential tax incentives, achieving other customary conditions and making a final investment decision to proceed. The forward-looking statements in this press release speak as of the date of this release. NextDecade may from time to time voluntarily update its prior forward-looking statements, however, it disclaims any commitment to do so except as required by securities laws. Contacts. Investors Megan Light [email protected] 832-981-6583 Media Susan Richardson [email protected] 832-413-6400 More News From NextDecade Corporation HOUSTON-( BUSINESS WIRE )-NextDecade Corporation ("NextDecade" or the "Company") (NASDAQ: NEXT) today provided an update on developmental and strategic activities for the first quarter of 2026. CEO Commentary "NextDecade is continuing to progress rapidly toward first LNG at the Rio Grande LNG Facility as we work with Bechtel to construct our trains safely, on budget, and ahead of schedule," said Matt Schatzman, NextDecade Chairman and CEO. "Phase 1 continues to track ahead of the guaranteed sub... HOUSTON-( BUSINESS WIRE )-NextDecade Corporation ("NextDecade" or the "Company") (NASDAQ: NEXT) announced today that it will host a conference call and webcast on Friday, May 1, 2026, at 11:00 a.m. Eastern Time (10:00 a.m. Central Time) to discuss developments from the first quarter of 2026. The Company expects to issue an accompanying press release and presentation that day before the market opens. The press release, presentation, and webcast may be accessed through the Company's website at ht... HOUSTON-( BUSINESS WIRE )-NextDecade Corporation (NextDecade or the Company) (NASDAQ: NEXT) today provided an update on developmental and strategic activities for the fourth quarter 2025 and early first quarter 2026. CEO Commentary "In 2025, we commercialized and achieved positive final investment decisions (FIDs) on Trains 4 and 5 at the Rio Grande LNG Facility with strong expected economic returns, illustrating the robust value and competitiveness of our liquefaction capacity," said Matt Scha... NextDecade Corporation. NASDAQ:NEXT Release Versions Investors Megan Light [email protected] 832-981-6583 Media Susan Richardson [email protected] 832-413-6400

The Motley Fool
Dec 20th, 2025
Hanwha Aerospace increases NextDecade stake by 1.65M shares for $9.4M amid LNG supply chain push

Hanwha Aerospace, a 10% owner of NextDecade Corporation, purchased 1.65 million shares in open-market transactions on 11 and 12 December 2025, worth $9.4 million. The acquisition is Hanwha's largest single transaction in the past year and brings its direct holdings to 26.4 million shares, valued at approximately $144.3 million. The purchase appears strategically motivated by Hanwha's August memorandum of understanding with Hanwha Energy and Korea Southern Power to develop an integrated LNG value chain. NextDecade, which develops LNG export facilities and carbon capture projects in Texas, currently generates no revenue and recorded $180 million in operating expenses over the first nine months of 2025. The company expects to begin LNG sales from its Rio Grande facility in the early 2030s.

Petropipe
Dec 15th, 2025
Wood Awarded 10-Year Maintenance Agreement for Rio Grande LNG

John Wood Group PLC has secured a major ten-year agreement with NextDecade to provide maintenance services at the Rio Grande LNG facility, a large-scale natural gas liquefaction and export project currently under development near Brownsville, Texas. Under the contract, Wood will deliver a full range of maintenance services to help ensure safe, reliable, and efficient operations across the approximately 1,000-acre site. NextDecade anticipates the facility will play a key role in supplying secure and affordable energy through the responsible development and operation of natural gas liquefaction capacity. Wood is already engaged in the execution of mechanical integrity programs for the facility and is providing advisory support on operational readiness. Steve Nicol, Executive President of Operations at Wood, said: "This contract strengthens Wood's presence in the US LNG market and underscores its commitment to supporting the growth of US LNG exports. Drawing on more than 50 years of experience maintaining facilities along the US Gulf Coast, PetropipeFZE will work closely with NextDecade to help deliver safe and dependable LNG production in Texas. "We also share NextDecade's commitment to the Rio Grande Valley communities. As part of this project, we plan to establish a new local office and partner with regional colleges to attract and develop talent through our apprenticeship programs." The contract is expected to create more than 100 new jobs, with an emphasis on local hiring and continued investment in workforce development across the United States.

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