NXG NextGen Infrastructure Income Fund (NXG)
The NXG NextGen Infrastructure Income Fund is a closed-end equity vehicle, managed and launched by Cushing MLP Asset Management, LP. Its investment strategy focuses on acquiring equity holdings in firms that operate throughout the full spectrum of the energy supply chain. This includes companies engaged in upstream, midstream, and downstream energy activities, as well as those providing oil and gas services and logistics. Additionally, the fund allocates capital to energy-intensive industries such as chemical, metal, industrial, and manufacturing companies, alongside engineering and construction businesses. This U.S.-domiciled fund was established in 2012.
Industry: Asset Management - Income
NXG NextGen Infrastructure Income Fund
NYSE:NXGFinancial Services · Asset Management - Income
+1.30%$44.41
AH Close$44.41+0.00%vs close
AH Close$44.41+0.00%vs close
Mkt Cap$325.62M
Float5.79M
O/S7.33M
Inst Own14.7%
SI1.7%
Div Yield15.27%
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$18.23M
Net Income$38.79M
Total Assets$418.38M
Free Cash Flow-$146.23M
Debt & Equity
Debt 32%
Equity 68%
Total Debt$131.81M
Total Equity$285.96M
Shares Outstanding
Short Interest
Split History1 split · 1 reverse
- 1:4Reverse splitJun 15, 20204 shares → 1
Balance Sheet Details
Assets$418.38M
Liabilities$132.41M
Accounts Receivable$260K
Accounts Payable$64K
Inventory$0
PP&E (Net)$0
Goodwill$0
Intangible Assets$0
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-11-30 | 2024-11-30 | 2023-11-30 | 2022-11-30 | 2021-11-30 | 2020-11-30 | 2019-11-30 | 2018-11-30 | 2017-11-30 |
| Revenue | $18.23M | $65.6M | -$28.96M | $15.68M | $38.93M | -$48.88M | -$2.96M | $4.53M | $13.35M |
| YoY Growth | -72.2% | -326.5% | -284.8% | -59.7% | -179.6% | 1551.6% | -165.3% | -66.1% | - |
| Cost of Revenue | $4.07M | $2.71M | $2.59M | $2.37M | $2.36M | $1.88M | $2.42M | $0 | $0 |
| Gross Profit | $14.16M | $9.5M | -$28.13M | $13.31M | $36.58M | -$50.76M | -$5.38M | $4.53M | $13.35M |
| Gross Margin | 77.7% | 14.5% | 97.1% | 84.9% | 93.9% | 103.9% | 181.9% | 100.0% | 100.0% |
| Research and Development | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, General, and Administrative | $1.32M | $1.21M | $774K | $759K | $716K | $701K | $610K | $551K | $531K |
| Other | -$30.32M | -$413K | -$391K | -$447K | -$454K | -$181K | $19K | $0 | $0 |
| Total Operating Expenses | -$29M | $801K | $383K | $312K | $262K | $520K | $629K | $570K | $548K |
| Operating Income (EBIT) | $43.16M | $64.8M | -$25.92M | $11.84M | $26.38M | -$20.26M | -$3.59M | $3.96M | $12.8M |
| Operating Margin | 236.7% | 98.8% | 89.5% | 75.5% | 67.8% | 41.4% | 121.2% | 87.4% | 95.9% |
| Interest Expense | $4.36M | $3M | $2.59M | $1.29M | $538K | $170K | $723K | $1.13M | $551K |
| Interest Income | $6.8M | $267K | $878K | $1.05M | $1.06M | $1.88M | $3.37M | $3.25M | $2.21M |
| Other Income (Expense) | -$4.36M | -$3M | -$2.59M | -$1.29M | -$538K | -$170K | $0 | $0 | $0 |
| Income Before Tax (EBT) | $38.79M | $61.8M | -$28.51M | $10.55M | $25.85M | -$20.43M | -$3.59M | $3.96M | $12.8M |
| Income Tax Expense | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$53K |
| Net Income | $38.79M | $61.8M | -$28.51M | $10.55M | $25.85M | -$20.43M | -$3.59M | $3.96M | $12.8M |
| Net Income Margin | 212.8% | 94.2% | 98.4% | 67.3% | 66.4% | 41.8% | 121.2% | 87.4% | 95.9% |
| Supplementary Data | |||||||||
| EPS | 6.85 | 17.54 | -10.72 | 3.89 | 9.51 | -7.85 | -1.38 | 1.68 | 8.47 |
| Diluted EPS | 6.85 | 17.54 | -10.72 | 3.89 | 9.51 | -7.85 | -1.38 | 1.68 | 8.47 |
| Weighted Average OS | 5.66M | 3.45M | 2.66M | 2.60M | 2.60M | 2.60M | 2.60M | 2.36M | 1.51M |
| EBITDA | $43.16M | $64.8M | -$25.92M | $12.07M | $26.62M | -$20.26M | -$3.59M | $0 | $0 |
| EBITDA Margin | 236.7% | 98.8% | 89.5% | 77.0% | 68.4% | 41.4% | 121.2% | - | - |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-11-30 | 2024-11-30 | 2023-11-30 | 2022-11-30 | 2021-11-30 | 2020-11-30 | 2019-11-30 | 2018-11-30 | 2017-11-30 |
| Assets | |||||||||
| Current Assets | |||||||||
| Cash and Cash Equivalents | $0 | $0 | $0 | $403K | $0 | $0 | -$44K | $0 | $0 |
| Short-Term Investments | $2.03M | $1.06M | $9.82M | $10.54M | $802K | $4.86M | $44K | $0 | $0 |
| Cash and Short-Term Investments | $2.03M | $1.06M | $9.82M | $10.95M | $802K | $4.86M | $44K | $0 | $0 |
| Accounts Receivable | $260K | $12.46M | $317K | $385K | $11.15M | $520K | $1.27M | $1.57M | $1.6M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Assets | -$2.29M | -$12.66M | -$9.82M | -$10.95M | -$802K | -$4.86M | -$44K | $0 | $0 |
| Total Current Assets | $523K | $1.06M | $317K | $385K | $11.15M | $520K | $1.27M | $1.57M | $1.6M |
| Long-Term Assets | |||||||||
| Property, Plant & Equipment Net | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Intangible Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $415.57M | $220.51M | $145.88M | $193.41M | $188.7M | $137.36M | $150.55M | $177.66M | $138.44M |
| Deferred Tax Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $417.85M | $0 | $0 | $0 | $0 | $0 | $0 | -$177.66M | -$138.44M |
| Total Long-Term Assets | $417.85M | $220.51M | $145.88M | $193.41M | $188.7M | $137.36M | $150.55M | $177.66M | $138.44M |
| Other Assets | $418.38M | $11.6M | $83K | $401K | $2.76M | $137.94M | $130K | $104K | $83K |
| Total Assets | $418.38M | $233.16M | $146.28M | $194.19M | $202.6M | $137.94M | $151.96M | $179.34M | $140.12M |
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts Payable | $64K | $30K | $5.59M | $14K | $6.86M | $18K | $16K | $14K | $2K |
| Short-Term Debt | $0 | $54.81M | $36.81M | $41.41M | $56.41M | $18.31M | $0 | $0 | $0 |
| Current Income Tax Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $0 | $0 | -$31.22M | -$41.4M | -$49.55M | -$18.29M | $0 | $0 | $0 |
| Other Current Liabilities | $412K | -$55.04M | -$5.59M | -$10.17M | -$7.47M | -$126K | -$165K | -$190K | -$141K |
| Total Current Liabilities | $412K | $226K | $5.59M | $14K | $6.86M | $18K | $16K | $14K | $2K |
| Long-Term Liabilities | |||||||||
| Long-Term Debt | $131.81M | $54.81M | $36.81M | $41.41M | $56.41M | $0 | $0 | $42.16M | $22.96M |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Liabilities | $189K | $359K | $0 | $0 | $0 | $0 | $0 | -$42.16M | -$22.96M |
| Total Long-Term Liabilities | $132M | $55.17M | $36.81M | $41.41M | $56.41M | $18.31M | $319K | $42.16M | $22.96M |
| Other Liabilities | $189K | $55.2M | $193K | $10.34M | $800K | $18.59M | -$319K | $328K | $257K |
| Total Liabilities | $132.41M | $55.2M | $42.59M | $51.76M | $64.07M | $18.59M | $16K | $42.5M | $23.21M |
| Stockholders' Equity | |||||||||
| Preferred Stock | $0 | $0 | $40.73M | $5.58M | $13.78M | $37.36M | $15.63M | $0 | $0 |
| Common Stock | $6K | $3K | $3K | $3K | $3K | $3K | $10K | $8K | $6K |
| Retained Earnings | $54.47M | $19.65M | -$40.73M | -$5.58M | -$13.78M | -$37.36M | -$15.63M | -$3.72M | -$865K |
| Comprehensive Income & Other | $0 | $0 | -$40.73M | -$5.58M | -$13.78M | -$37.36M | -$15.63M | $0 | $0 |
| Other Stockholders' Equity | $231.49M | $158.31M | $144.4M | $148.01M | $152.32M | $156.71M | $167.26M | $140.56M | $117.77M |
| Total Equity | $285.96M | $177.96M | $103.68M | $142.43M | $138.54M | $119.35M | $151.64M | $136.84M | $116.91M |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $418.38M | $233.16M | $146.28M | $194.19M | $202.6M | $137.94M | $151.65M | $179.34M | $140.12M |
| Supplementary Data | |||||||||
| Total Debt | $131.81M | $54.81M | $36.81M | $41.41M | $56.41M | $18.31M | $0 | $42.16M | $22.96M |
| Net Debt | $131.81M | $54.81M | $36.81M | $41.01M | $56.41M | $18.31M | $44K | $42.16M | $22.96M |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-11-30 | 2024-11-30 | 2023-11-30 | 2022-11-30 | 2021-11-30 | 2020-11-30 | 2019-11-30 | 2018-11-30 | 2017-11-30 |
| Operating Activities | |||||||||
| Net Income | $38.79M | $61.8M | -$28.51M | $10.55M | $25.85M | -$20.43M | -$3.59M | $3.96M | $12.8M |
| Depreciation & Amortization | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Deferred Income Tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Stock-Based Compensation | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Changes in Working Capital: | |||||||||
| Accounts Receivable | $12.2M | -$12.14M | $68K | $10.76M | -$10.63M | $754K | $298K | $0 | $0 |
| Inventory | $0 | $0 | $0 | -$2.5M | $2.5M | -$10 | $0 | $0 | $0 |
| Accounts Payable | $152K | -$5.37M | $5.42M | $9.99M | $61K | -$57K | -$25K | $0 | $0 |
| Other Working Capital | -$138K | -$5.53M | -$4.26M | -$2.4M | $2.1M | $92K | -$18K | $0 | $0 |
| Total Working Capital Change | $12.06M | -$17.66M | -$4.19M | $15.85M | -$5.97M | $790K | $255K | $80K | -$902K |
| Other Non-Cash Items | -$197.09M | -$74.63M | $48.07M | -$4.35M | -$51.32M | $13.19M | $27.11M | -$39.22M | -$10.95M |
| Net Cash from Operating | -$146.23M | -$30.5M | $15.37M | $22.06M | -$31.44M | -$6.45M | $23.77M | -$35.17M | $957K |
| Investing Activities | |||||||||
| Capital Expenditures | $0 | $0 | -$3 | $0 | $0 | $0 | $0 | $0 | $0 |
| Acquisitions | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Purchases of Investments | -$734.43M | -$378.07M | -$398.74M | -$226.4M | -$325.14M | -$109.71M | -$109.84M | $0 | $0 |
| Sales of Investments | $222.3M | $214.12M | $407.07M | $220.09M | $227.4M | $93.17M | $92.68M | $0 | $0 |
| Other Investing Activities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Cash from Investing | -$512.13M | -$163.95M | $8.34M | -$6.31M | -$97.74M | -$16.54M | -$17.15M | $0 | $0 |
| Financing Activities | |||||||||
| Debt Repaid | -$77M | -$18M | $4.6M | $15M | -$38.1M | -$18.31M | $42.16M | -$19.2M | -$12.5M |
| Common Stock Issuance | $96.77M | $31.22M | $0 | $0 | $0 | $0 | $32.61M | $27.71M | $0 |
| Common Stock Repurchases | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$3.72M |
| Dividends Paid | -$27.54M | -$18.72M | -$10.23M | -$6.66M | -$6.66M | -$11.86M | -$14.23M | -$11.74M | -$9.75M |
| Other Financing Activities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Cash from Financing | $146.23M | $30.5M | -$14.83M | -$21.66M | $31.44M | $6.45M | -$23.77M | $35.17M | -$966K |
| Forex Effect | $0 | $0 | $720K | $6.31M | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | $0 | $0 | -$403K | $403K | -$97.74M | -$16.54M | -$17.15M | $0 | -$9K |
| Supplementary Data | |||||||||
| Operating Cash Flow | -$146.23M | -$30.5M | $14.42M | $22.06M | -$31.44M | -$6.45M | $23.77M | -$35.17M | $957K |
| Capital Expenditure | -$5 | $0 | -$3 | $5 | $3 | $0 | $0 | $0 | $0 |
| Free Cash Flow | -$146.23M | -$30.5M | $14.42M | $22.06M | -$31.44M | -$6.45M | $23.77M | -$35.17M | $957K |
| Cash at Beginning | $0 | $0 | $403K | -$97.74M | -$16.54M | -$17.15M | $0 | $0 | $9K |
| Cash at End | $0 | $0 | $0 | $403K | -$97.74M | -$16.54M | -$17.15M | $0 | $0 |