NextDecade Corporation

DB:2XD Stock Report

Market Cap: €1.8b

NextDecade Valuation

Is 2XD undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

0/6

Valuation Score 0/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Book vs Peers

  • Price-To-Book vs Industry

  • Price-To-Book vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 2XD when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 2XD (€6.95) is trading above our estimate of fair value (€0.49)

Significantly Below Fair Value: 2XD is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 2XD?

Key metric: As 2XD is unprofitable and pre-revenue we use its Price-To-Book Ratio for relative valuation analysis.

The above table shows the Price to Book ratio for 2XD. This is calculated by dividing 2XD's market cap by their current book value.
What is 2XD's PB Ratio?
PB Ratio2.8x
BookUS$669.79m
Market CapUS$1.92b

Price to Book Ratio vs Peers

How does 2XD's PB Ratio compare to its peers?

The above table shows the PB ratio for 2XD vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PBEstimated GrowthMarket Cap
Peer Average1.7x
VH2 Friedrich Vorwerk Group
2.8x12.9%€538.0m
CE2 CropEnergies
1.8xn/a€1.2b
CE2 CropEnergies
1.3x-7.5%€1.0b
VBK Verbio
0.8x55.1%€710.2m
2XD NextDecade
2.8x11.0%€1.9b

Price-To-Book vs Peers: 2XD is expensive based on its Price-To-Book Ratio (2.8x) compared to the peer average (1.7x).

Price to Book Ratio vs Industry

How does 2XD's PB Ratio compare vs other companies in the European Oil and Gas Industry?

12 CompaniesPrice / BookEstimated GrowthMarket Cap
2XD 2.8xIndustry Avg. 0.9xNo. of Companies20PB00.61.21.82.43+
12 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Book vs Industry: 2XD is expensive based on its Price-To-Book Ratio (2.8x) compared to the European Oil and Gas industry average (0.9x).

Price to Book Ratio vs Fair Ratio

What is 2XD's PB Ratio compared to its Fair PB Ratio? This is the expected PB Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

2XD PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio2.8x
Fair PB Ration/a

Price-To-Book vs Fair Ratio: Insufficient data to calculate 2XD's Price-To-Book Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst 2XD forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€6.95
€10.07
+44.8%
15.9%€12.27€8.50n/a3
Nov ’25€5.18
€9.73
+87.9%
15.9%€11.86€8.21n/a3
Oct ’25€4.02
€9.73
+142.1%
15.9%€11.86€8.21n/a3
Sep ’25€3.97
€9.73
+145.4%
15.9%€11.86€8.21n/a3
Aug ’25€7.29
€9.87
+35.3%
15.9%€12.03€8.33n/a3
Jul ’25€7.17
€8.72
+21.6%
5.1%€9.34€8.41n/a3
Jun ’25€5.86
€8.32
+42.0%
9.1%€9.24€7.39n/a3
May ’25€6.09
€7.96
+30.7%
13.2%€9.37€6.56n/a4
Apr ’25€4.92
€7.81
+59.0%
13.2%€9.19€6.44n/a4
Mar ’25€4.17
€7.81
+87.4%
13.2%€9.19€6.44n/a4
Feb ’25€4.63
€7.81
+68.8%
13.2%€9.19€6.44n/a4
Jan ’25€4.40
€7.81
+77.6%
13.2%€9.19€6.44n/a4
Dec ’24€4.50
€7.81
+73.8%
13.2%€9.19€6.44n/a4
Nov ’24€4.10
€8.04
+96.3%
13.2%€9.46€6.62€5.184
Oct ’24€4.85
€8.05
+65.9%
13.2%€9.47€6.63€4.024
Sep ’24€5.51
€7.58
+37.5%
17.9%€9.19€5.51€3.974
Aug ’24€4.98
€7.90
+58.9%
25.9%€10.69€5.34€7.294
Jul ’24€7.48
€7.50
+0.3%
37.0%€11.08€4.16€7.174
Jun ’24€5.10
€8.14
+59.6%
35.9%€11.06€4.15€5.863
May ’24€5.28
€8.02
+51.8%
35.9%€10.89€4.08€6.093
Apr ’24€4.29
€8.18
+91.0%
35.9%€11.12€4.17€4.923
Mar ’24€6.57
€9.05
+37.7%
33.9%€12.63€5.15€4.173
Feb ’24€5.42
€8.45
+56.0%
37.1%€13.03€5.31€4.634
Jan ’24€4.47
€8.45
+89.0%
37.1%€13.03€5.31€4.404
Dec ’23€5.10
€8.45
+65.8%
37.1%€13.03€5.31€4.504
Nov ’23€6.95
€8.80
+26.6%
35.3%€13.39€5.95€4.104

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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