INV. BANKS / INV. COS. / SECURITIES COS.

NEXT Next Capital Limited

All-Share

Rs 14.12

▲ +0.07 (+0.50%)

Vol 21K · Close · 23 Sep 2026 ● live

Market cap Market cap What the whole company costs at today's price. How it's worked out Share price multiplied by every share in issue. How to read it It is the company's size, not its value. A big number is not expensive and a small one is not cheap — that is what the multiples below are for.: Rs 804M; as of 23 Sep 2026
P/E (TTM) P/E ratio Rupees you pay for each rupee the company earned last year. How it's worked out Share price divided by earnings per share over the last twelve reported months. How to read it Lower looks cheaper, but only against something — the same company's history, its sector, or the market. A P/E on its own means very little, and it is blank when a company lost money.: 12.2×
Dividend yield Dividend yield Cash paid out over the last year as a percentage of today's price. How it's worked out Dividends per share over twelve months divided by the share price. How to read it A very high yield is often a warning, not a gift: it usually means the price fell. Check the payout ratio next to see whether earnings actually cover it.: —; as filed by PSX
Avg volume (30d) Average volume Shares changing hands on a typical day. How it's worked out The mean daily volume over thirty sessions. How to read it Shares, not rupees — a million shares of a Rs 3 stock is a small market. "Traded per session" is the version in money.: 29.3K

52-week range 47% of range

8.85 14.12 20.01

1W: −2.22%
1M: −4.59%
3M: +3.90%
6M: +15.36%
YTD: −4.98%
1Y: +13.96%

Free float Free float The shares that can actually be bought and sold. How it's worked out Total shares minus the blocks held by sponsors, the government and other locked-in holders, as the exchange reports them. How to read it The float, not the market cap, is what sets how easily a real position can be built or unwound.: 28.5M; 50% of shares
Shares outstanding Free float The shares that can actually be bought and sold. How it's worked out Total shares minus the blocks held by sponsors, the government and other locked-in holders, as the exchange reports them. How to read it The float, not the market cap, is what sets how easily a real position can be built or unwound.: 56.9M
Day range: 13.75 – 14.39; prev close 14.05
Shariah: Not compliant

What's good about NEXT, and what isn't

Read off the numbers below · 23 Sep 2026

Every line states the bar it was judged against, so you can disagree with the bar rather than argue with a verdict. Nothing here is scored or ranked, and where a number is missing the sentence is simply not written.

In its favour

It beat the KSE-100 by 11 points over the last year.

Ten points or more ahead of the index over a year

Against it

Earnings per share have shrunk 3% a year over three years.

Negative three-year EPS growth
A Rs 1,000,000 order would take about 3 normal sessions to trade.

More than two sessions to trade Rs 1m
Your own Rs 1,000,000 order moves the price about 807 basis points.

Price impact of 100 bps or more per Rs 1m

Not advice, and not a score. These are descriptions of numbers Equivest holds, nothing more.

NEXT · 1-year close +16.69% · 251 sessions

22 Sep H 19.07 · 9 Jul L 9.70 · 4 Mar 23 Sep

Open NEXT in the plotter → Compare with the KSE-100

Trend read

Sideways

Since 11 Sep 2026 · daily closes to 23 Sep 2026

•Below the 50-day average, above the 200-day
•Roughly flat over 3 months (+3.9%)

A description of the price series — moving averages, momentum, the 52-week position — held for three closes before it changes. It is a label, not advice. How it works →

RSI (14) RSI (14) Whether recent buying or selling has run hot. How it's worked out Fourteen sessions of gains weighed against losses, on a 0–100 scale. How to read it Above 70 is called overbought and below 30 oversold, but strong stocks stay above 70 for months. It describes momentum, it does not forecast a turn.: 46; neutral band
vs 50-day avg: −4.4%; SMA Rs 14.77
vs 200-day avg: +6.8%; SMA Rs 13.22
Beta vs KSE-100 Beta How hard it swings when the market swings. How it's worked out The slope of this stock's daily returns against the KSE-100's, over a year of sessions. How to read it 1.0 moves with the market, 1.5 exaggerates it by half, below 1 is steadier. It says nothing about direction, only about size.: 0.50; correlation 0.21 · 1Y
Volatility Volatility, 30-day How jumpy it has been lately, stated per year. How it's worked out The standard deviation of the last 30 days of returns, annualised. How to read it 30% means a typical year's swing of about thirty percent either way. Rising volatility often arrives before news does.: 53%; 30d · 65% 90d, annualised
Max drawdown · 1Y Biggest drawdown The worst peak-to-trough fall of the last year. How it's worked out The largest drop from any high to any subsequent low over 250 sessions. How to read it The number that tells you whether you could have held it. Most people discover their real risk tolerance somewhere inside this figure.: −39.3%
Volume vs 20-day avg Volume vs normal How busy today was against a typical day. How it's worked out The latest session's volume divided by the twenty-day average. How to read it Above 2 means something happened — an announcement, a block, a rumour. Check the news before reading anything into the price.: 0.59×; avg 34.8K
52-week signal Position in 52-week range Where today's price sits between the year's low and high. How it's worked out Zero at the 52-week low, 100 at the high. How to read it Near 100 is strength or froth; near 0 is a bargain or a falling knife. The number tells you where you are, never which of the two.: Inside range
Stats as of: 23 Sep 2026

The numbers behind the numbers

Computed from reported filings and NEXT's own price history · 23 Sep 2026

A P/E on its own says little. These put NEXT's valuation next to its sector and the market, its dividend next to its earnings, its quoted price next to how much of it actually trades, and its return next to the risk taken to earn it.

Valuation in context

Earnings yield Earnings yield The P/E turned upside down, so it compares with a savings rate. How it's worked out 100 divided by the P/E ratio. How to read it If a company earns 17% against its price and a T-bill pays 12%, you can finally compare the two. It is what the business earns, not what it pays you — the dividend yield is the cash that reaches your account.: 8.18%
Price to sales Price to sales What you pay for each rupee of revenue. How it's worked out Market cap divided by the latest reported annual sales. How to read it Useful where earnings are negative or lumpy and a P/E says nothing. It ignores costs entirely, so a low number does not mean a good business.: —
PEG (P/E ÷ 3-year growth) PEG The P/E measured against how fast earnings are growing. How it's worked out P/E divided by the three-year growth rate of earnings per share. How to read it Under 1 is the old rule of thumb for a multiple that growth justifies. Blank when earnings are shrinking, because the ratio flips sign and stops meaning anything.: —
vs the KSE-100's P/E vs the KSE-100's P/E Whether this company is dearer or cheaper than the market as a whole. How it's worked out Its P/E against the KSE-100's, which we compute as the total market cap of the index over the total earnings of its members. How to read it −30% means it trades thirty percent below the market's multiple. Cheap against the market is a question, not an answer: often the market is right about why.: +45%
Position in 52-week range Position in 52-week range Where today's price sits between the year's low and high. How it's worked out Zero at the 52-week low, 100 at the high. How to read it Near 100 is strength or froth; near 0 is a bargain or a falling knife. The number tells you where you are, never which of the two.: 47%
vs KSE-100, one year vs KSE-100, one year How far ahead of or behind the market it finished. How it's worked out Its one-year return minus the KSE-100's, in percentage points. How to read it "Up 12%" means one thing when the index rose 20% and another when it fell. Unlike alpha, this ignores how much market risk was carried to get there.: +11.1 pts

Its P/E is lower than 44% of the inv. banks / inv. cos. / securities cos. companies with reported earnings.

Income & quality

Dividend per share, 12 months Dividend per share The actual rupees per share paid out over the last twelve months. How it's worked out Every cash dividend with an ex-date in the last year, added up from the exchange's own book-closure notices. How to read it Multiply by your shares and that is the cash that reached you, before tax. Bonus shares are not in here — they are not money.: —
Cash dividends paid, 12 months Dividends paid How many times it paid cash in the last twelve months. How it's worked out A count of cash dividends with an ex-date in the last year. How to read it Four usually means a quarterly payer, one means an annual one. A steady cadence is worth more to an income investor than a single big number.: —
Payout ratio Payout ratio How much of its profit the company hands to shareholders. How it's worked out Dividend per share over the last year divided by earnings per share. How to read it Above 100% means it paid out more than it earned — possible from reserves for a year, not for five. Low means it is keeping money to reinvest, which is not automatically bad.: —
Dividend cover Dividend cover How many times over the earnings could pay the dividend. How it's worked out Earnings per share divided by dividend per share — the payout ratio the other way round. How to read it Above 2 is comfortable. Below 1 means the dividend is coming from somewhere other than this year's profit.: —
Net margin Net margin How much of every rupee of sales survives to profit. How it's worked out Net profit after tax divided by sales, from the annual filing. How to read it Compare it only within an industry — a supermarket at 3% can be healthier than a manufacturer at 10%. The direction matters more than the level.: 8.2%
Margin, 3-year change Margin, 3-year change Whether the business is getting more or less profitable. How it's worked out The latest net margin minus the one three years earlier, in percentage points. How to read it A widening margin on flat sales is a company with pricing power. A shrinking one is usually costs, competition, or both.: +1.5 pts
EPS growth, 3-year EPS growth, 3-year How fast profit per share has compounded. How it's worked out The annual rate that turns the earnings per share of three years ago into today's. How to read it Blank if the company was losing money three years ago — a move from a loss to a profit has no meaningful growth rate, and printing one would be arithmetic pretending to be insight.: -2.5% a year
Sales growth, 3-year Sales growth, 3-year How fast revenue has compounded. How it's worked out The annual rate that turns the sales of three years ago into today's. How to read it Read it next to EPS growth. Sales rising faster than profit means the growth is being bought with margin.: —

Can you actually trade it

Median traded per session Traded per session The rupees that change hands on a typical day. How it's worked out The median of price times volume over the last 60 sessions — the median, so one block trade cannot make a dead stock look busy. How to read it This is the number that decides whether the quoted price is a price you can actually get.: Rs 312K
Sessions to trade Rs 1M Sessions to trade Rs 1M How long it would take to buy or sell a Rs 1,000,000 position. How it's worked out Rs 1,000,000 divided by the median rupees traded a session. How to read it Under 0.01 and your order is a rounding error. Above 1 and you are the day's volume — expect to move the price against yourself getting out.: 3.20
Untraded sessions, last 60 Untraded sessions Days in the last 60 when literally nothing traded. How it's worked out A count of sessions with zero volume. How to read it Any number above zero means there are days you could not have sold at any price. On PSX this is common well outside the KSE-100.: 0
Daily volume vs free float Daily volume vs free float What share of the tradable stock changes hands on a normal day. How it's worked out Average daily volume divided by the free float — the shares not locked up by sponsors. How to read it A company can be huge and still barely trade if the family owns 90% of it. This separates size from liquidity.: 0.12%
Price impact per Rs 1M traded Price impact per Rs 1M How far your own order moves the price. How it's worked out The median of the day's absolute price move divided by the day's turnover, scaled to a Rs 1,000,000 ticket. Traders call it the Amihud ratio. How to read it Under 1 basis point and the market swallows your order whole. Three figures and your buying is the reason the price went up — which you will discover again on the way out.: 807 bps
Implied bid-ask spread Implied bid-ask spread The hidden cost of a round trip, estimated from the price series. How it's worked out Roll's estimator: prices bounce between bid and ask, and the size of that bounce implies the spread. How to read it It is the toll you pay to enter and leave, before any brokerage. Blank when the price is trending rather than bouncing, because then the model does not apply and we would rather say nothing.: —
Float turned over, one year Float turned over, one year How many times the tradable stock changed hands in a year. How it's worked out A year's volume divided by the free float. Exchanges publish this about themselves; this is the same measure for one company. How to read it 100% means the entire float turned over once. Single digits mean a register that never moves, whatever the market cap says.: 48%
Sessions with a trade, one year Sessions with a trade How often it trades at all. How it's worked out The share of the last 250 sessions with any volume. How to read it Anything below 100% means there were days with no market. Below 90% and you should assume you cannot choose your exit day.: 100%

Liquidity is very thin: a Rs 1,000,000 order is about 320% of a normal session's turnover.

A Rs 1,000,000 ticket moves the price hard — about 807 basis points on the median session, measured the way a trading desk measures it.

What the risk paid

Total return, one year Total return, one year What a holder actually made, dividends included. How it's worked out The price move over twelve months plus every cash dividend paid in that window, counted as received on its ex-date. How to read it Every other PSX site quotes the price move alone. On a market yielding what this one does, that understates what holders made by a third or more. incl. dividends: +14.0%
— from the price: +14.0%
— from dividends — from dividends The part of the year's return that arrived as cash. How it's worked out Dividends per share over the year divided by the price twelve months ago. How to read it The half of the return a price chart cannot show you. For many PSX names it is most of it.: —
Return per unit of risk Return per unit of risk How much you were paid for how rough the ride was. How it's worked out The one-year return divided by the annualised volatility of the daily moves. How to read it Two stocks up 20% are not the same if one did it calmly and the other halved on the way. Deliberately not a Sharpe ratio: quoting a risk-free rate for Pakistan means picking a T-bill tenor and pretending that was your alternative.: 0.22
Alpha vs KSE-100, one year Alpha vs KSE-100 The part of the year's return the market does not explain. How it's worked out The stock's return minus its beta times the index's return. How to read it A high-beta name rising in a rising market has done nothing clever. This strips that out and leaves what was actually the company's doing.: +12.5 pts
Caught of the market's up moves Caught of the market's up moves How much of the market's good days this stock catches. How it's worked out The stock's total return across the index's up days, divided by the index's own. How to read it Above 100 means it rises more than the market does. Read it with down capture — the pair is the whole picture, either half alone flatters.: 25%
Caught of its down moves Caught of its down moves How much of the market's bad days this stock catches. How it's worked out The stock's total return across the index's down days, divided by the index's own. How to read it Below 100 means it falls less than the market. Above 100 on the downside is the warning a headline return usually hides.: 2%
Worst day in twenty Worst day in twenty The fall you should expect to see on a bad day. How it's worked out The fifth-percentile daily return over the last year — the actual distribution, not a bell curve. How to read it One session in twenty is at least this bad. It is a normal day at the office, not a crash, and the crash is worse than this by definition.: −5.7%
Below its 52-week high Below its 52-week high How far under its best price of the year it sits now. How it's worked out The 52-week high minus today's price, as a percentage of that high. How to read it Different from the biggest drawdown, which is the worst it ever got. This is the hole still to climb out of.: 29.4% · 52 sessions

It has risen more than the index on its good days and fallen less on its bad ones.

Next Capital balance sheet and returns

Return on equity, book value, gearing and margins for Next Capital — read out of the company’s own audited annual report, because the exchange publishes no balance sheet. Figures for the year ended 30 Jun 2025.

Return on equity Return on equity What the company earned on the shareholders' own money. How it's worked out Profit after tax divided by total equity, both from the balance sheet in the company's latest annual report. PSX publishes no balance sheet, so this is read out of the filing itself. How to read it The headline test of whether management is any good. Above ~20% is strong for PSX; below the rate you'd get on a bank deposit means the business is earning less than doing nothing. Blank on negative equity, where the number flatters instead of informing.: 6.61%
Return on assets Return on assets Earnings against everything the company controls, not just what shareholders put in. How it's worked out Profit after tax divided by total assets, from the annual report's balance sheet. How to read it Read it beside return on equity. A wide gap between the two is borrowed money doing the work — on a bank or a leasing company, that gap is the whole story.: 2.58%
Book value / share Book value per share The accounting value of one share, in rupees. How it's worked out Total equity divided by shares outstanding — what each share would be worth if the company sold everything at balance-sheet value and paid off every debt. How to read it The floor under a share price, loosely. It ignores brands, people and future profits, so a good business trades well above it and a broken one below.: Rs 7.64
Price to book Price to book What the market charges for each rupee of net assets. How it's worked out Share price divided by book value per share. How to read it Under 1 means the market values the whole company at less than the net assets on its own balance sheet. On PSX that is common and is sometimes a bargain and sometimes a warning — check why.: 1.85×
Current ratio Current ratio Can it pay the bills due inside a year? How it's worked out Current assets divided by current liabilities, from the annual report. How to read it Under 1 means more falls due within a year than the company expects to collect within one. Not fatal on its own — but it is the first place to look when a company is in trouble.: 11.56×
Debt to equity Debt to equity How much is owed against how much is owned outright. How it's worked out Total liabilities divided by total equity. The broad measure — all liabilities, not only interest-bearing borrowings — because that is what the published tables reliably carry. How to read it Leverage magnifies both directions. High gearing is normal for banks and leasing, alarming for a manufacturer in a high-rate year like Pakistan has had.: 1.56×
Funded by shareholders Funded by shareholders The share of the balance sheet shareholders actually paid for. How it's worked out Total equity as a percentage of total assets — the plain-English complement of leverage. How to read it The higher it is, the less the company depends on lenders staying friendly. At Pakistani interest rates that dependence has been expensive.: 39%

Year ended	Total assets	Equity	Revenue	Profit	ROE
30 Jun 2025	Rs 1.1T	Rs 435B	—	Rs 28.7B	6.6%
30 Jun 2024	Rs 866B	Rs 406B	—	−Rs 21.7B	-5.3%
30 Jun 2023	Rs 817B	Rs 428B	—	−Rs 97.2B	-22.7%
30 Jun 2022	Rs 1.2T	Rs 525B	—	Rs 30.8B	5.9%
30 Jun 2021	Rs 1.2T	Rs 494B	—	Rs 82B	16.6%
30 Jun 2020	Rs 784B	Rs 407B	—	Rs 17.8B	4.4%

Source: Next Capital’s annual report, page 18. Every figure above can be checked against it.

Next Capital filings and reports

39 documents Next Capital has published — annual reports, quarterly accounts and briefing decks. PSX filings are marked PSX; the rest come from the company’s own investor relations page. Links open the original PDF at the source.

Annual reports · 11

and 3 more

Half-yearly accounts · 1

Financial Results for the Half Year Period Ended December 31 2025 PSX

Quarterly accounts · 27

and 19 more

About Next Capital Limited

Next Capital Limited was incorporated as a public limited company in Pakistan on 14 December 2009 under repealed Companies Ordinance, 1984 (now Companies Act, 2017). The company is principally engaged in brokerage of shares, stocks, equity and debt securities, commodities, forex and other financial instruments and corporate finance services. Further, the Company is engaged in trading in equity and debt securities on its own account through ready, spot and forward counters of the stock exchange.

Key people

Humaira Asad · CEO
Hanna Khan · Chairperson
Muhammad Rizwan Yousuf · Company Secretary

Sector: Inv. Banks / Inv. Cos. / Securities Cos.
Website: www.nextcapital.com.pk
Head office: 2nd Floor, Imperial Court, Dr. Ziauddin Ahmed Road , Karachi
Auditor: Grant Thorton Anjum Rahman., Chartered Accountants
Share registrar: Digital Custodian Company Limited (DCCL), Pardesi House, Queens Road, Karachi
Fiscal year end: June

Financials

Annual figures from PSX filings. Money in PKR (converted from thousands); EPS in rupees per share.

FY (June)	2025	2024	2023	2022
Total Income	Rs 350M	Rs 266M	Rs 170M	Rs 460M
EPS	Rs 0.50	Rs -0.38	Rs -1.71	Rs 0.54
EPS Growth	+231.6%	+77.8%	−416.7%	−67.5%
Net Profit Margin	8.2%	−8.2%	−57.1%	6.7%

Dividends & corporate actions

PSX quotes payouts as a % of the Rs 10 face value — 25% = Rs 2.50 per share. Unconfirmed ex-dates are marked “expected”.

NEXT dividends and corporate actions
Type	% of face	Per share	Ex-date	Book closure	Buy by
No dividends or corporate actions on record for NEXT.

Analyst consensus

No analyst coverage on record for NEXT.

Quick answers

What is NEXT's dividend yield?

Equivest's PSX data does not show a trailing dividend yield for Next Capital Limited (NEXT) as of 23 Sep 2026. Check the dividend history table on this page for declared payouts.

What is NEXT's P/E ratio?

NEXT trades at a trailing price-to-earnings ratio of 12.2× based on a price of Rs 14.12 as of 23 Sep 2026. Its market capitalisation is about Rs 804M.

Is NEXT Shariah compliant?

No. Next Capital Limited (NEXT) is not flagged Shariah-compliant in PSX data as of 23 Sep 2026, and it is not part of the KMI-30 or KMI All-Share Islamic indices.

Is NEXT trending up or down?

Equivest's trend read for NEXT is Sideways since 11 Sep 2026: the price series is roughly flat. Below the 50-day average, above the 200-day; Roughly flat over 3 months (+3.9%). The read describes the closes through 23 Sep 2026; it is not a recommendation.

Is NEXT cheap?

NEXT shows an earnings yield of 8.18%, a net margin of 8.2%. Its price-to-earnings multiple is lower than 44% of companies in the same PSX sector with reported earnings. Whether that makes it cheap depends on why the market prices it that way, which no ratio answers. A Rs 1,000,000 order is about 320% of a normal session, judged on the median value traded over the last 60 sessions.

What is the total return on NEXT including dividends?

NEXT returned +14.0% over the last year counting the cash dividends paid. Dividends are counted as received on their ex-date, not reinvested. Figures to 23 Sep 2026.

How liquid is NEXT?

On Equivest's reading of the last 60 sessions, a Rs 1,000,000 order moves the price about 807 basis points on a median session, the stock traded on 100% of the last year's sessions. Those are estimates from daily closes and volumes, not from the order book, and they describe normal sessions rather than the day you need to sell.

What is NEXT's beta?

NEXT's one-year beta against the KSE-100 is 0.50 (correlation 0.21), measured on daily closes to 23 Sep 2026. Its annualised volatility is 53% over 30 days and 65% over 90; the worst peak-to-trough fall in the last year was −39.3%.

Related: Inv. Banks / Inv. Cos. / Securities Cos.

Largest companies in the same PSX sector.

NEXT sector peers
Symbol	Company	Price	Chg %	Mkt cap	P/E
ENGROH	Engro Holdings Limited	265.54	+0.66%	Rs 320B	50.9×
PIAHCLA	PIA Holding Company Limited	23.11	+10.00%	Rs 121B	—
PSX	Pakistan Stock Exchange Limited	47.73	+2.91%	Rs 38.3B	17.1×
DLL	Dawood Lawrencepur Limited	46.48	−0.94%	Rs 37.2B	0.2×
PIAHCLB	PIA Holding Company LimitedB	15,932.33	+1.65%	Rs 23.9B	—
IMS	Intermarket Securities Limited	18.13	+0.17%	Rs 23.3B	43.2×

Data from PSX via Equivest, delayed and provided for information only — not investment advice. Figures may contain errors; verify with your broker before acting. As of 23 Sep 2026, 15:45 PKT.

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