NextDecade Corporation, an energy company, engages in the construction and development activities related to the liquefaction of natural gas in the United States. The company focuses on the development activities on the Rio Grande liquefied natural gas (LNG) terminal facility located in the Port of Brownsville in southern Texas; and a carbon capture and storage project (CCS project) at the …
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Competitive advantage assessment
Key risks
ROIC Below WACC or PeersROIC at 14.9th percentile suggests inefficient capital deployment.
Where NEXT ranks in Oil & Gas Equipment & Services
NextDecade Corporation ranks #48 of 50
scored companies in Oil & Gas Equipment & Services by moat score — the top 96%.
The widest moat in the group is Cactus, Inc. Class A Common Sto (WHD)
at 78/100.
Moat scores for companies ranked near NEXT in Oil & Gas Equipment & Services
Pricing power is the ability to raise prices without losing volume.
Cost Advantage
Not measurable
· 15% of the moat score
A cost advantage means delivering the same product for structurally less — better purchasing, denser distribution, a more automated process.
Customer Stickiness
Not measurable
· 15% of the moat score
Stickiness is what makes revenue repeat without being re-won every year.
Capital Efficiency
Score 7
· 18% of the moat score
Capital efficiency asks what the company earns on the money tied up in the business.
Resilience
Score 4
· 17% of the moat score
Resilience is the capacity to get through a bad year on its own terms — enough liquidity, enough interest cover, and enough cash generation to avoid a rescue financing or a forced sale.
Scale & Market Position
Not measurable
· 15% of the moat score
Scale matters only when it converts into economics.
NextDecade Corporation (NEXT) scores 6 out of 100 on the StatsAlpha Moat Map, which rates its competitive advantage as weak. It ranks #48 of 50 scored companies in Oil & Gas Equipment & Services, the top 96%. The score is a weighted composite of 6 competitive defenses, each measured against industry peers of 49 companies in Oil & Gas Equipment & Services. Its strongest defense is Capital Efficiency (7/100) and its weakest is Resilience (4/100).
How does NextDecade Corporation compare with other Oil & Gas Equipment & Services companies?
NextDecade Corporation ranks #48 of 50 scored companies in Oil & Gas Equipment & Services by moat score. The widest moat in Oil & Gas Equipment & Services is Cactus, Inc. Class A Common Sto (WHD) at 78/100. The companies ranked closest are ProFrac Holding Corp. (ACDC) at 13 just above it and ChampionX Corporation (CHX) at 0 just below it.
How is the moat score calculated?
Each company is scored with an industry-specific template — Corporate Default in this case, chosen because the defenses that matter to a bank are not the ones that matter to a software company. Every defense combines several financial signals, and each signal is measured as a percentile against a peer group of 49 companies in Oil & Gas Equipment & Services. The defenses are then weighted to produce the overall score out of 100.
Why is NextDecade Corporation scored with the Corporate Default template?
Most public companies sell a product or a service at a margin, so the moat question is whether that margin survives contact with competitors. The Corporate template scores the six defenses that show up in a general operating company's financial signature: whether it can hold price, produce more cheaply than rivals, keep its customers, earn a return above its cost of capital, withstand a downturn, and turn size into economics.
Which competitive defenses are measured for NextDecade Corporation?
The Corporate Default template measures 6 defenses, and NEXT scores: Pricing Power (not measurable), Cost Advantage (not measurable), Customer Stickiness (not measurable), Capital Efficiency (7), Resilience (4), Scale & Market Position (not measurable). Each is scored independently as a percentile against peers, so a company can be strong on one and weak on another — the overall score reflects how those defenses are weighted for this industry.
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