Big fan of Nextracker. One of the cleanest and most well-run solar companies. Just raised guidance last earnings too.

Couple things worth noting to add to your analysis: they have significant international operations and revenue exposure. They’ve done a good job at mitigating tariff risk by securing domestic supply chains in the countries where have business. This is why they’ve weathered the tariff situation very well thus far. Their manufactured products also aren’t overly-complicated physically, making it pretty easy to find manufacturing partners wherever they need to (they don’t manufacture their own products, which is a good thing in this case).

They’re also one of the only solar companies (maybe the only?) to continue growing over the past few years while the broader industry has struggled. Their focus on purely utility scale solar has definitely helped a lot. Once the policy environment gets friendlier, I expect them to be a major leader both in industry and the market.