NEXT
NextDecade Corporation
NasdaqCMUSDEQUITY
Energy
DELAYED
Neutral
-14/100
Last price
6.62
▼ 0.21 (3.12%)
MARKET · —
Price
Chart style
Interval
Intraday intervals only cover recent history. The site picks the finest interval the range allows.
Overlays
Session levels
Lower pane
Overlay another symbol
Both series are rebased to 0% at the left edge, so the lines show relative performance rather than price.
Tool
1D
—
H —
L —
Range —
Vol —
vs
Drag pan · Pinch zoom · Hold crosshair · pick a tool then drag to draw
Open
6.88
Prev close
6.83
Day high
6.93
Day low
6.55
Volume
1.00M
Market cap
$1.76B
P/E (TTM)
—
52W range
4.75 – 9.24
Day trading desk
Gap from prior close
+0.73%
Prior close 6.83
VWAP
6.64
-0.29% from price
Relative volume
0.39×
Quiet session
Session range
5.80%
6.55 – 6.93
Position in range
18%
Near session low
ATR (14D)
0.33
4.96% of price
Prior day high
6.91
PDH
Prior day low
6.62
PDL
Bid / ask spread
—
Quote not published
Session volume
999.74K
Avg 2.57M
VWAP and the session figures are computed from the delayed intraday series on this page, so they lag the live tape and will not match a broker's real-time VWAP exactly. Turn on Prior day H/L/C, Opening range and Volume profile in the chart's Studies menu to see these levels drawn on price.
Trailing performance
Returnvs SPY
1W
+4.20%
+2.6%
1M
-11.42%
-12.6%
3M
-17.70%
-20.8%
6M
-18.11%
-32.7%
YTD
+25.55%
+12.0%
1Y
-9.85%
-25.2%
3Y
+35.59%
-45.7%
5Y
—
—
Price return only. Dividends are not reinvested, so total return on a dividend payer will be higher than shown.
Unusual options activity
Nothing crossed the thresholds in the expiries we scanned.
That is the normal state — most contracts trade well inside their existing open interest.
That is the normal state — most contracts trade well inside their existing open interest.
Contracts trading at or above their open interest, ranked by notional and where the print landed.
Free account
10 more panels on NEXT open with an account.
Options chains and analytics, valuation ratios, insider filings, analyst targets and ownership. No card, no trial, nothing to cancel.
Insider net activity
Net shares
0
Net selling
Buy transactions
0
0 shares
Sell transactions
0
—
Net transactions
0
Buys less sells
Sell : buy shares
—
Not enough filings
Insider-held shares
121.32M
Total on file
Insider transactions
| Date | Insider | Action | Shares | Value | Held |
|---|---|---|---|---|---|
| Aug 31, 26 | SCHATZMAN MATTHEW K. Chief Executive Officer |
STOCK | 464.19K | $0 | Direct |
| Aug 31, 26 | ZUKLIC JOHN Chief Financial Officer |
STOCK | 139.26K | $0 | Direct |
| Aug 31, 26 | DE GYARFAS VERA General Counsel |
STOCK | 132.63K | $0 | Direct |
| Aug 31, 26 | SKEIK TARIK Chief Operating Officer |
STOCK | 99.47K | $0 | Direct |
| Aug 31, 26 | BOYLSTON LUKE Officer |
STOCK | 23.87K | $0 | Direct |
| Jun 15, 26 | STOVER DAVID L Director |
STOCK | 20.57K | $0 | Direct |
| Jun 15, 26 | BROWN CHARLES Q JR Director |
STOCK | 11.96K | $0 | Direct |
| Mar 23, 26 | BEALL PAMELA K. M. Director |
BUY | 71.50K | $505.50K | Indirect |
| Jan 30, 26 | BEALL PAMELA K. M. Director |
STOCK | 30.25K | $0 | Direct |
| Jan 30, 26 | VRATTOS WILLIAM Director |
STOCK | 51.98K | $0 | Direct |
| Jan 30, 26 | SANDS DIANA L. Director |
STOCK | 40.64K | $0 | Direct |
| Jan 30, 26 | WELLS LOUIS SPENCER Director |
STOCK | 30.25K | $0 | Direct |
| Jan 30, 26 | BELKE BRIAN Director |
STOCK | 49.15K | $0 | Direct |
| Jan 30, 26 | SCOGGINS EDWARD ANDREW JR. Director |
STOCK | 30.25K | $0 | Direct |
What this is, and what it is not
These are SEC Form 4 filings — officers, directors and 10% owners reporting their own trades in the company's stock. Filing is due within two business days of the transaction, so this lags reality by days, and the provider adds its own lag on top.
A sale is not automatically bearish. Executives sell on scheduled 10b5-1 plans, to cover tax on vesting equity, and to diversify. Purchases with cash are generally the more informative signal, and they are far rarer.
This does not include congressional or senate trading. That comes from STOCK Act disclosures filed with the Senate eFD system and the House Clerk, which this data source does not carry.
Officer and director trades in their own stock, straight from Form 4 filings.
Insider holders
| Name | Relation | Shares held | Latest |
|---|---|---|---|
BARDIN HILL INVESTMENT PARTNERS L.P. |
Beneficial Owner of more than 10% of a Class of Security | — | Purchase |
BELKE BRIAN |
Director | 440.92K | Stock Award(Grant) |
CHAPMAN FRANK JOSEPH |
Director | 285.43K | Stock Award(Grant) |
DE GYARFAS VERA |
General Counsel | 982.03K | Stock Award(Grant) |
HANWHA AEROSPACE CO., LTD |
Beneficial Owner of more than 10% of a Class of Security | 43.96M | Purchase |
MOTT MICHAEL R |
Chief Financial Officer | 510.42K | Stock Award(Grant) |
SCHATZMAN MATTHEW K. |
Chief Executive Officer | 5.61M | Stock Award(Grant) |
SKEIK TARIK |
Chief Operating Officer | 363.27K | Stock Award(Grant) |
VRATTOS WILLIAM |
Director | 1.42M | Stock Award(Grant) |
WAHL BRENT |
Chief Financial Officer | 1.52M | Stock Award(Grant) |
Fundamentals
Market cap$1.76B
Enterprise value$15.27B
Revenue (TTM)—
Gross profit—
EBITDA$-218.38M
Net income$-358.59M
EPS (TTM)$-1.36
Free cash flow$-4.92B
Total cash$83.68M
Total debt$10.66B
Book value / share$-0.22
Shares outstanding266.19M
Float129.83M
Short % of float14.73%
Dividend yield0.00%
Beta (5Y)1.54
Valuation & profitability ratios
Trailing P/E—
Forward P/E44.11
PEG ratio—
Price / sales—
Price / book—
EV / revenue—
EV / EBITDA-69.91
Gross margin0.00%
Operating margin0.00%
Profit margin0.00%
Return on equity-15.76%
Return on assets-1.23%
Debt / equity378.44
Current ratio0.37
Fourteen ratios including P/E, PEG, EV/EBITDA, margins and return on equity.
Financial statements
| Line item | 2025 | 2024 | 2023 | 2022 | YoY |
|---|---|---|---|---|---|
| Total revenue | $0 | $0 | $0 | $0 | — |
| Operating revenue | $0 | $0 | $0 | $0 | — |
| Cost of revenue | $12.12M | $12.71M | $6.31M | $162.00K | -4.6% |
| Gross profit | -$12.12M | -$12.71M | -$6.31M | -$162.00K | +4.6% |
| Research & development | $8.01M | $8.26M | $4.89M | $4.10M | -3.1% |
| Selling, general & admin | $202.28M | $150.11M | $111.47M | $50.21M | +34.8% |
| Total operating expense | $213.81M | $158.37M | $116.36M | $54.31M | +35.0% |
| Operating income | -$225.93M | -$171.07M | -$122.67M | -$54.48M | -32.1% |
| Net interest income | -$170.01M | -$87.54M | -$50.28M | $0 | -94.2% |
| Pre-tax income | -$429.64M | $277.45M | -$221.64M | -$60.07M | -254.9% |
| Net income | -$306.43M | -$61.75M | -$162.26M | -$60.07M | -396.2% |
| Net income to common | -$306.43M | -$61.75M | -$182.75M | -$84.35M | -396.2% |
| Basic EPS | -1.17 | -0.24 | -0.94 | -0.65 | -387.5% |
| Diluted EPS | -1.17 | -0.24 | -0.94 | -0.65 | -387.5% |
| EBIT | -$340.10M | $299.65M | -$212.75M | -$60.07M | -213.5% |
| EBITDA | -$327.97M | $306.33M | -$209.60M | -$59.15M | -207.1% |
| Basic shares | 262.16M | 258.54M | 194.59M | 130.14M | +1.4% |
| Diluted shares | 262.16M | 258.54M | 194.59M | 130.14M | +1.4% |
| Line item | 2025 | 2024 | 2023 | 2022 | 2021 | YoY |
|---|---|---|---|---|---|---|
| Cash & equivalents | $143.78M | $148.14M | $38.24M | $62.79M | — | -2.9% |
| Cash & short-term investments | $143.78M | $148.14M | $38.24M | $62.79M | — | -2.9% |
| Total current assets | $718.05M | $412.57M | $314.52M | $63.94M | — | +74.0% |
| Property, plant & equipment | $10.73B | $5.19B | $2.61B | $220.12M | — | +106.9% |
| Goodwill & intangibles | — | — | — | — | $0 | — |
| Total assets | $12.43B | $6.40B | $3.32B | $312.43M | — | +94.0% |
| Total current liabilities | $1.34B | $595.08M | $552.39M | $25.36M | — | +124.5% |
| Long-term debt | $8.51B | $3.92B | $1.82B | — | — | +117.1% |
| Total debt | $8.66B | $4.07B | $1.97B | $1.56M | — | +112.8% |
| Total liabilities | $10.12B | $4.66B | $2.58B | $258.06M | — | +117.3% |
| Retained earnings | -$759.96M | -$453.52M | -$391.77M | -$230.14M | — | -67.6% |
| Shareholder equity | $95.34M | $377.64M | $287.92M | $54.37M | — | -74.8% |
| Working capital | -$617.98M | -$182.51M | -$237.86M | $38.58M | — | -238.6% |
| Net tangible assets | $95.34M | $377.64M | $287.92M | $54.37M | — | -74.8% |
| Shares issued | 269.70M | 263.39M | 258.70M | 144.49M | — | +2.4% |
| Line item | 2025 | 2024 | 2023 | 2022 | YoY |
|---|---|---|---|---|---|
| Net income | -$429.64M | $277.45M | -$221.64M | -$60.07M | -254.9% |
| Depreciation & amortisation | $12.12M | $6.68M | $3.15M | $918.00K | +81.6% |
| Stock-based compensation | $39.21M | $19.91M | $26.55M | $7.47M | +97.0% |
| Change in working capital | $36.82M | $20.12M | -$4.14M | $5.50M | +83.0% |
| Operating cash flow | -$169.40M | -$95.58M | -$73.62M | -$40.08M | -77.2% |
| Capital expenditure | -$4.85B | -$2.57B | -$1.74B | -$33.75M | -88.8% |
| Investing cash flow | -$4.85B | -$2.57B | -$1.75B | -$40.89M | -88.5% |
| Dividends paid | $0 | $0 | -$53.00K | -$75.00K | — |
| Financing cash flow | $5.34B | $2.77B | $2.06B | $118.20M | +92.8% |
| Free cash flow | -$5.02B | -$2.66B | -$1.81B | -$73.83M | -88.3% |
| End cash position | $707.09M | $392.76M | $294.48M | $62.79M | +80.0% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | YoY |
|---|---|---|---|---|---|---|---|
| Total revenue | $0 | $0 | $0 | $0 | $0 | — | — |
| Operating revenue | $0 | $0 | $0 | $0 | $0 | — | — |
| Cost of revenue | $7.90M | $3.03M | $3.02M | $2.98M | $393.00K | — | +160.5% |
| Gross profit | -$7.90M | -$3.03M | -$3.02M | -$2.98M | -$393.00K | — | -160.5% |
| Research & development | $2.85M | $2.14M | $3.57M | $2.88M | $1.25M | — | +33.0% |
| Selling, general & admin | $30.30M | $49.94M | $39.19M | $66.11M | $36.88M | — | -39.3% |
| Total operating expense | $46.67M | $52.08M | $42.76M | $68.99M | $55.88M | — | -10.4% |
| Operating income | -$54.57M | -$55.12M | -$45.78M | -$71.96M | -$56.27M | — | +1.0% |
| Net interest income | -$90.78M | -$79.25M | -$75.34M | -$38.63M | -$31.63M | — | -14.5% |
| Pre-tax income | -$60.18M | -$195.04M | $70.98M | -$184.76M | -$70.63M | — | +69.1% |
| Tax provision | $0 | — | — | — | $0 | — | — |
| Net income | -$65.43M | -$136.41M | -$47.28M | -$109.48M | -$60.87M | — | +52.0% |
| Net income to common | -$65.43M | -$136.41M | -$47.28M | -$109.48M | -$60.87M | — | +52.0% |
| Basic EPS | -0.25 | -0.51 | — | -0.42 | -0.23 | -0.34 | +51.0% |
| Diluted EPS | -0.25 | -0.51 | — | -0.42 | -0.23 | -0.34 | +51.0% |
| EBIT | $215.00K | -$145.34M | $65.85M | -$146.12M | -$55.99M | — | +100.1% |
| EBITDA | $8.64M | -$143.86M | $68.84M | -$143.16M | -$51.53M | — | +106.0% |
| Basic shares | 265.04M | 264.91M | — | 262.58M | 260.88M | 260.40M | +0.1% |
| Diluted shares | 265.39M | 264.91M | — | 262.58M | 260.88M | 260.40M | +0.2% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | YoY |
|---|---|---|---|---|---|---|
| Cash & equivalents | $83.68M | $143.12M | $143.78M | $209.40M | $158.54M | -41.5% |
| Cash & short-term investments | $83.68M | $143.12M | $143.78M | $209.40M | $158.54M | -41.5% |
| Total current assets | $631.91M | $487.52M | $718.05M | $764.82M | $476.85M | +29.6% |
| Property, plant & equipment | $13.65B | $11.80B | $10.73B | $8.63B | $6.75B | +15.7% |
| Total assets | $15.21B | $13.23B | $12.43B | $10.01B | $7.86B | +14.9% |
| Total current liabilities | $1.69B | $1.21B | $1.34B | $1.19B | $683.88M | +39.4% |
| Long-term debt | $10.02B | $9.36B | $8.51B | $6.61B | $5.17B | +7.1% |
| Total debt | $10.54B | $9.47B | $8.66B | $6.76B | $5.32B | +11.2% |
| Total liabilities | $12.39B | $10.87B | $10.12B | $8.03B | $6.00B | +14.0% |
| Retained earnings | -$961.79M | -$896.36M | -$759.96M | -$712.68M | -$603.20M | -7.3% |
| Shareholder equity | -$57.28M | -$30.71M | $95.34M | $154.49M | $260.48M | -86.5% |
| Working capital | -$1.06B | -$726.84M | -$617.98M | -$429.15M | -$207.04M | -45.9% |
| Net tangible assets | -$57.28M | -$30.71M | $95.34M | $154.49M | $260.48M | -86.5% |
| Shares issued | 264.93M | 269.83M | 269.70M | 269.10M | 264.10M | -1.8% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | YoY |
|---|---|---|---|---|---|---|
| Net income | -$60.18M | -$195.04M | $70.98M | -$184.76M | -$70.63M | +69.1% |
| Depreciation & amortisation | $8.42M | $1.47M | $2.99M | $2.97M | $4.46M | +472.7% |
| Stock-based compensation | $5.35M | $5.45M | $12.33M | $13.05M | $7.23M | -1.9% |
| Change in working capital | $51.75M | -$44.37M | $37.79M | -$13.37M | $37.20M | +216.6% |
| Operating cash flow | -$17.18M | -$110.83M | -$20.66M | -$76.02M | -$3.90M | +84.5% |
| Capital expenditure | -$980.68M | -$1.18B | -$1.99B | -$1.36B | -$731.62M | +16.7% |
| Investing cash flow | -$1.03B | -$1.18B | -$1.97B | -$1.35B | -$751.93M | +12.7% |
| Financing cash flow | $1.08B | $1.05B | $1.96B | $1.71B | $826.72M | +3.1% |
| Free cash flow | -$997.86M | -$1.29B | -$2.01B | -$1.43B | -$735.51M | +22.5% |
| End cash position | $499.57M | $465.06M | $707.09M | $744.67M | $457.04M | +7.4% |
Options analytics
Put / call volume
0.22
Call-heavy session
Put / call open interest
0.33
Positioning, not flow
Max pain
7.00
+5.8% from spot
ATM implied vol
61.3%
Nearest strike to spot
Skew (10% OTM)
-2.7%
Calls bid over puts
Call volume
590
Contracts, this expiry
Put volume
128
Contracts, this expiry
Heaviest call OI
8.00
7.91K contracts
Heaviest put OI
7.00
2.96K contracts
Max pain is the strike at which the largest dollar value of open contracts expires worthless. It describes current positioning; it is not a forecast and it moves as open interest changes.
Put/call ratios, max pain, implied volatility skew and where open interest is concentrated.
Earnings
Reported vs expected · EPS
| Quarter | Est. | Actual | Surprise |
|---|---|---|---|
| Jun 2026 | -0.50 | -0.56 | -12.3% |
| Mar 2026 | -0.49 | -0.51 | -4.1% |
| Dec 2025 | -0.61 | -0.89 | -45.4% |
| Sep 2025 | -0.54 | -0.13 | +75.1% |
Forward consensus
| Period | EPS | Analysts | Revenue | Growth |
|---|---|---|---|---|
| Current quarter | -0.53 | 1 | $0 | 0.0% |
| Next quarter | -0.80 | 3 | $0 | 0.0% |
| Current year | -2.10 | 1 | $0 | 0.0% |
| Next year | 0.15 | 1 | $2.37B | 0.0% |
Analyst targets & ownership
Mean target$8.70
High target$11.00
Low target$7.00
Implied upside31.49%
Analyst count5
ConsensusBUY
Strong buy / Buy0 / 2
Hold3
Sell / Strong sell0 / 0
Held by insiders45.58%
Held by institutions43.24%
Institutions holding278
Price targets, consensus spread, insider and institutional ownership.
Moving averages & technicals
SMA 10
6.53
+1.36% from price
SMA 20
6.83
-3.09% from price
SMA 50
6.96
-4.90% from price
SMA 100
7.43
-10.93% from price
SMA 200
6.86
-3.59% from price
EMA 12
6.65
-0.50% from price
EMA 26
6.83
-3.07% from price
EMA 50
7.00
-5.49% from price
RSI (14)
43.7
Neutral
MACD (12,26,9)
-0.18
Hist 0.00
ATR (14)
0.33
4.96% of price
Realised vol 30D
31.5%
Annualised
Bollinger upper
7.61
20, 2σ
Bollinger lower
6.04
20, 2σ
50 / 200 cross
Golden
6.96 vs 6.86
Trend bias
Below 200
-3.59%
Options chain
Calls
| Strike | Last | Bid | Ask | Vol | OI | IV |
|---|---|---|---|---|---|---|
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
Puts
| Strike | Last | Bid | Ask | Vol | OI | IV |
|---|---|---|---|---|---|---|
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
Every listed expiry, both sides of the book, with volume, open interest and implied volatility.
Risk profile
Beta vs SPY
-0.62
Less volatile than market
Correlation to SPY
-0.13
Largely independent
Realised vol 30D
31.5%
Annualised
Market vol 1Y
13.0%
SPY, annualised
Max drawdown 1Y
-35.5%
Peak to trough
Max drawdown 5Y
-60.0%
Peak to trough
ATR 14
0.33
4.96% of price
Beta (reported)
1.54
5Y monthly, from filing
Short interest
Shares short
21.74M
Prior 19.54M
Change vs prior
+11.2%
Shorts adding
% of float
14.73%
Elevated
% of shares out
8.17%
Against total outstanding
Days to cover
9.2
Crowded exit
Float
129.83M
Freely tradeable shares
Exchanges publish short interest twice a month with a settlement lag, so this is roughly two weeks behind. Days to cover divides shares short by average daily volume — it estimates how long covering would take, not whether it will happen.
Rating changes
| Date | Firm | Action | From | To |
|---|---|---|---|---|
| Jul 16, 26 | Goldman Sachs | INITIATED | — | Neutral |
| May 13, 26 | Citigroup | INITIATED | — | Buy |
| Apr 21, 26 | Morgan Stanley | MAINTAINED | Equal-Weight | Equal-Weight |
| Feb 24, 26 | Morgan Stanley | MAINTAINED | Equal-Weight | Equal-Weight |
| Sep 15, 25 | TD Cowen | DOWNGRADE | Buy | Hold |
| Sep 12, 25 | Morgan Stanley | DOWNGRADE | Overweight | Equal-Weight |
| Jul 11, 25 | Morgan Stanley | MAINTAINED | Overweight | Overweight |
| Jun 6, 24 | TD Cowen | MAINTAINED | Hold | Hold |
| Aug 16, 23 | Wolfe Research | UPGRADE | Peer Perform | Outperform |
| Aug 15, 23 | Stifel | UPGRADE | Hold | Buy |
| Oct 26, 22 | Morgan Stanley | MAINTAINED | — | Overweight |
| Jul 28, 22 | Stifel | UPGRADE | Sell | Hold |
Dividends & splits
Forward rate—
Forward yield0.00%
5-year avg yield—
Payout ratio—
Ex-dividend date—
Next pay date—
Last split—
Split date—
SEC filings
Corporate Changes & Voting Matters
8-K · 2026-10-01
Offering Registrations
S-8 · 2026-07-30
Corporate Changes & Voting Matters
8-K · 2026-07-02
Corporate Changes & Voting Matters
8-K · 2026-06-18
Corporate Changes & Voting Matters
8-K · 2026-06-03
Proxy Statements
DEFA14A · 2026-05-19
Offering Registrations
S-3ASR · 2026-05-13
Periodic Financial Reports
10-Q · 2026-05-01
Headlines
NextDecade Announces Timing of Third Quarter 2026 Investor Call
Business Wire · 2h ago
LNG’s Golden Age Could Last Longer Than Expected. These Stocks Benefit Most.
Barrons.com · 2d ago
ConocoPhillips Joins Venture Global's Long-Term LNG Buyers
Rigzone.com · 5d ago
European Natural Gas Surges to 4-Year High, Lifting These Energy Stocks
Barrons.com · 27d ago
Cheniere Rallies 16.1% in 3 Months: Can the Stock Keep Climbing?
Zacks · 47d ago
NextDecade (NEXT) Q2 2026 Earnings Call Transcript
Motley Fool · 65d ago
NextDecade (NEXT) Gains Rio Grande LNG Momentum As Undervalued Narrative Holds
Simply Wall St. · 67d ago
How Investors May Respond To NextDecade (NEXT) Advancing Rio Grande LNG While Losses Widen And Equity Plans Grow
Simply Wall St. · 67d ago
PRIVATE STRATEGY · BY QUALIFICATION
The same data. A different seat.
The research you are reading is the input layer for a discretionary options program we run for a small number of qualified investors. Minimum $1,000,000.