NRGVNYSEMiscellaneous Electrical Machinery, Equipment & SuppliesFiscal year ends December 31
Energy Vault Holdings, Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 11, 2026
$2.77−0.07 (-2.46%)
Close on Oct 19, 2026
- Market cap
- $494.15M
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2020 to 2025
Gross margin
23.6%
Operating margin
-36.5%
Net margin
-50.9%
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +340.9% | +11.8% | – | – | |
| Gross profit | +675.7% | -6.8% | – | – |
Returns and balance sheet
6 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2020 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | – | – | |
| Return on assets | – | – | -41.7% | |
| Current ratio | 0.93 | 0.93 | 0.73 | |
| Net debt to EBITDA | – | – | -0.51× | |
| Interest coverage | – | – | -8.8× | |
| Inventory turnover | – | – | 1265.7× | |
| Capex to revenue | – | – | 20.2% | |
| Diluted shares | – | – | 161M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Energy Vault generated $199.58M from operations and spent $132.87M on capital expenditure, dividends and share buybacks. 100% of that went back into the business.
Generated
$199.58M
Used
$132.87M
Capital expenditure$132.87M100%Dividends$00%Share buybacks$00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-28.8%
×Asset turnover0.90×
×Equity multiplier1.48×
=Return on equity, FY2023-38.5%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2023 | -28.8% | 0.90× | 1.48× | -38.5% |
| FY2022 | -53.7% | 0.54× | 2.47× | -71.5% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
3of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero-$103.61M
- Cash generatingOperating cash flow above zero-$5.65M
- Return on assets improvedROA up on the prior year-39.8% → -56.3%
- Earnings backed by cashOperating cash flow above net income-$5.65M vs -$103.61M
- Less leverageLong-term debt to assets fell0.0% → 12.1%
- Better liquidityCurrent ratio rose1.26 → 0.73
- No dilutionShare count did not rise150M → 161M
- Gross margin improvedGross margin up on the prior year13.39% → 23.56%
- More efficientAsset turnover rose0.14 → 1.11