May 2026
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Largest Energy & Utilities Software Public Companies in the US
Benchmark revenue and EBITDA valuation multiples for public comps like
Nextpower, Flotek Industries, NextNRG, Stem and Acadia Energy.
 | Nextpower (and its subsidiaries) is a leading provider of intelligent, integrated solar tracker and software solutions used in utility-scale and distributed generation solar projects around the world. Nextpower's products enable solar panels in utility-scale power plants to follow the sun’s movement across the sky and optimize plant performance. Nextpower has operations in the United States, Mexico, Spain and other countries in Europe, India, Australia, the Middle East, Africa, and Brazil. | $132 | +130% | $20B | $19B | 5.4x | 22.6x | ||
| Flotek Industries Inc is a technology-driven specialty chemistry and data company. It has two reportable segments: Its Chemistry Technologies segment includes specialty chemistries, logistics and technology services. It also include integrated oil and gas companies, oilfield services companies, independent oil and gas companies, national and state-owned oil companies, and international supply chain management companies. The Data Analytics segment provides analytical measurement solutions and deliver real-time information and insights to customers to enable optimization of operations and reduction of emissions and their carbon intensity. Key revenue comes from its Chemistry Technologies segment. | $20 | +36% | $721M | $766M | 3.2x | 23.4x | ||
| NextNRG Inc is engaged in developing an integrated ecosystem that combines solar energy generation, battery storage, smart microgrids, wireless electric vehicle (EV) charging, and on-demand fuel delivery. The company is also focused on combining renewable energy innovation with mobile fueling expertise to build a sustainable energy ecosystem that bridges traditional fuel needs with AI-powered clean energy solutions. | $1 | -70% | $139M | $165M | 2.0x | (9.7x) | ||
| Stem Inc is a provider of energy storage systems. The company bundles third-party hardware with its proprietary Athena software to provide customers a turnkey solution. Stem sells its solutions to commercial and industrial customers as well as independent power producers and renewable developers. Its solutions help customers maximize renewable energy generation and help build a cleaner and more resilient grid. The Company operates as one operating segment that is focused exclusively on technology services that transform the way energy is distributed and consumed. | $9 | -3% | $85M | $377M | 2.4x | 1.8x | ||
| Acadia Energy Corp develops microgrid solutions called Sustainability Hubs for local communities. Acadia Energy has developed a software platform called InSite which manages the power generated and stored on the microgrid as well as the renewable attributes associated with renewable energy. A new software overlay is being engineered to accommodate the new NYC Law 97, which will have AI recognition capabilities. | $0 | -61% | $3M | $3M | — | — | ||
| Median | $9 | -3% | $139M | $377M | 2.8x | 12.2x |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
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