Nexttrip, Inc. key statistics and ratios

In fiscal 2026, Nexttrip, Inc. had an operating margin of -440.5%, debt equal to 63.0% of equity and a current ratio of 0.81. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Nexttrip, Inc.: financial ratios, annual
Fiscal year	2016Dec 2015	2017Dec 2016	2018Dec 2017	2019Dec 2018	2020Dec 2019	2021Dec 2020	2022Dec 2021	2023Feb 2023	2024Feb 2024	2025Feb 2025	2026Feb 2026	LTMAug 2026
Gross margin	82.7%	76.3%	57.5%	30.5%	−42.7%	26.7%	66.1%	7.3%	13.3%	0.7%	17.6%	17.3%
Operating margin	—	—	−608.2%	<−999%	<−999%	−705.7%	−513.4%	<−999%	<−999%	<−999%	−440.5%	−306.2%
Net margin	−137.4%	−227.3%	−690.2%	<−999%	<−999%	−644.0%	−447.1%	<−999%	<−999%	<−999%	−428.3%	−319.8%
Free-cash-flow margin	−108.4%	—	−422.4%	−988.8%	<−999%	−606.6%	−392.4%	−991.4%	<−999%	<−999%	−122.8%	—
Return on equity	−56.0%	−109.6%	—	—	—	−178.8%	−81.9%	−75.4%	—	−192.9%	—	—
Return on assets	−53.2%	−86.9%	−168.1%	−191.4%	−306.6%	−140.7%	−75.6%	−51.0%	−133.6%	−134.7%	−138.3%	−119.0%
Asset turnover	0.39	0.38	0.24	0.13	0.20	0.22	0.17	0.04	0.08	0.07	0.32	0.37
Current ratio	17.09	1.14	6.94	2.51	0.91	10.61	12.93	0.49	0.87	0.96	0.81	0.49
Debt to equity	0.0%	0.0%	3.3%	2.9%	7.7%	0.0%	0.0%	—	0.0%	0.0%	63.0%	75.2%
Interest cover (operating income ÷ interest)	—	—	—	—	n/m	n/m	n/m	n/m	n/m	—	—	—
R&D as % of revenue	26.8%	12.5%	47.1%	127.0%	161.0%	15.6%	25.3%	—	—	—	—	—
Capital spending as % of revenue	6.4%	—	10.8%	20.4%	8.3%	10.9%	11.1%	0.8%	2.0%	0.0%	0.0%	—

US$ thousands unless shown otherwise. Fiscal quarters.

Nexttrip, Inc.: financial ratios, quarterly
Quarter	2025 Q3Nov 2024	2025 Q4Feb 2025	2026 Q1May 2025	2026 Q2Aug 2025	2026 Q3Nov 2025	2026 Q4Feb 2026	2027 Q1May 2026	2027 Q2Aug 2026
Gross margin	−2.8%	−10.6%	28.0%	21.9%	18.1%	14.2%	14.3%	32.2%
Operating margin	<−999%	<−999%	<−999%	−422.7%	−257.0%	−335.9%	−200.7%	−606.8%
Net margin	<−999%	<−999%	<−999%	−382.5%	−272.9%	−326.2%	−215.3%	−681.1%
Free-cash-flow margin	<−999%	<−999%	−751.0%	75.5%	−165.0%	−130.4%	−161.4%	−450.0%
Current ratio	0.24	0.96	0.58	0.70	0.85	0.81	0.61	0.49

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

1 of 2 checks passed · August 31, 2026

What it owns · $13m

Short-term assets $3mLonger-term assets $10m

What it owes, and who funded it · $13m

Short-term liabilities $6mLonger-term liabilities $2mShareholders' equity $5m

Short-term assets cover short-term liabilities $3m of assets due within a year against $6m of liabilities due within a year.
Short-term assets cover long-term liabilities $3m short-term assets against $2m of longer-dated liabilities.
More cash than debt Cash or debt not separately reported. Not assessable.
Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Nexttrip, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

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Figures from Nexttrip, Inc.'s SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Nexttrip, Inc.