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Energy Vault Holdings, Inc.

Energy Vault Holdings, Inc.

NYSE•NRGV
CEO: Mr. Robert Allen Piconi
Sector: Utilities
Industry: Renewable Utilities
Listing Date: 2021-03-29
Energy Vault Holdings, Inc. develops and sells energy storage solutions. The company offers B-Vault, an electrochemical battery energy storage systems for shorter-duration energy storage needs; G-Vault, a proprietary gravity energy storage solution, including EVx solution; and H-Vault, a hybrid energy storage systems including systems that integrate green hydrogen. Its software solutions includes Vault-OS, an energy management system the management of one or more diverse storage mediums; Vault-Bidder that utilizes machine learning algorithms to match node-specific data with real-time weather and asset performance information; and Vault-Manager which designs to safeguard asset management and to help blend developing technologies seamlessly into existing solutions. Energy Vault Holdings, Inc. is based in Westlake Village, California.
Contact Information
4360 Park Terrace Drive, Suite 100, Westlake Village, CA, 91361, United States
805-852-0000
www.energyvault.com
Market Cap
$912.78M
P/E (TTM)
-6.1
86.6
Dividend Yield
--
52W High
$6.35
52W Low
$0.60
52W Range
84%
Rank54Top 78.1%
2.7
F-Score
Modified Piotroski Analysis
Based on 6-year fundamentals
Weak • 2.7 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2020-2025

Financial Dashboard

Q3 2025 Data

Revenue

$33.32M+2678.90%
4-Quarter Trend

EPS

-$0.16-11.11%
4-Quarter Trend

FCF

-$27.16M-25.47%
4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

Revenue Surge from Projects Revenue $50.4M (9M 2025), up $37.6M from $12.7M in 2024. Product sales drove $32.9M increase reflecting Australian EPC ramp-up.
Operating Loss Narrows Operating loss improved $13.0M to $(66.6M) for nine months. Improved gross profit offset higher General and Administrative costs.
Positive Operating Cash Flow Operating cash flow swung positive $22.0M to $0.9M provided for nine months. Reflects upfront customer collections timing benefits.
Strong Contract Backlog Total contract backlog reached $920M by September 30, 2025. Supported by robust developed pipeline metrics for future conversion.

Risk Factors

Liabilities Increase Significantly Total liabilities increased $143.7M to $201.3M by September 30, 2025. Driven by significant debt financings secured throughout 2025.
Tariff Uncertainty Persists Ongoing U.S./China tariff ambiguity creates supply chain uncertainty. Potential elevated duty levels could resume impacting cost models.
Net Loss Widens Net loss attributable to EVHI widened $9.0M to $(82.9M) for nine months. Driven by substantially higher interest expense and financing costs.
Customer Concentration Risk Accounts receivable concentrated: four customers represent 34%, 30%, 23%, and 13% of total balances as of September 30, 2025.

Outlook

Asset Vault JV Established Launched Asset Vault joint venture with OIC in October 2025. Focus on developing, building, owning global energy storage assets.
Secured Equity Financing Access Secured Hudson and Helena equity purchase agreements providing access to capital. Total potential commitment up to $75.0M.
Tax Credit Monetization Expected Expecting $40.6M net proceeds from Tax Credit Transfer Commitment by December 15, 2025, to fund capital expenditures.
New Projects Operational Cross Trails BESS and CRC HESS commenced commercial operations in 2025. Supporting new tolling revenue streams under agreements.

Peer Comparison

Revenue (TTM)

Empresa Distribuidora y Comercializadora Norte Sociedad AnónimaEDN
$2.30B
+34.5%
New Fortress Energy Inc.NFE
$1.78B
-27.2%
ReNew Energy Global PlcRNW
$1.43B
+46.4%

Gross Margin (Latest Quarter)

ReNew Energy Global PlcRNW
84.5%
-13.9pp
Aris Water Solutions, Inc.ARIS
36.9%
-3.9pp
Consolidated Water Co. Ltd.CWCO
36.9%
+2.0pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
RNW$2.00B22.17.2%74.9%
EDN$1.30B9.413.5%0.0%
NRGV$912.78M-6.1-140.4%22.2%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
-0.2%
Flat Growth
4Q Net Income CAGR
N/M
Profitability Shift
Cash Flow Stability
25%
Cash Flow Needs Attention

Research & Insights

Next earnings:Mar 16, 2026
|
EPS:-$0.07
|
Revenue:-
Reports
All Years

  • Form 10-Q - Q3 2025

    Period End: Sep 30, 2025|Filed: Nov 10, 2025|
    Revenue: $33.32M+2678.9%
    |
    EPS: $-0.16-11.1%
    Miss

  • Form 10-Q - Q2 2025

    Period End: Jun 30, 2025|Filed: Aug 8, 2025|
    Revenue: $8.51M+125.8%
    |
    EPS: $-0.22+22.2%
    Miss

  • Form 10-Q - Q1 2025

    Period End: Mar 31, 2025|Filed: May 13, 2025|
    Revenue: $8.53M+10.0%
    |
    EPS: $-0.14+0.0%
    Miss

  • Form 10-K - FY 2024

    Period End: Dec 31, 2024|Filed: Apr 1, 2025|
    Revenue: $46.20M-86.5%
    |
    EPS: $-0.91-31.9%
    Miss

  • Form 10-Q - Q3 2024

    Period End: Sep 30, 2024|Filed: Nov 12, 2024|
    Revenue: $1.20M-99.3%
    |
    EPS: $-0.18+38.5%
    Miss

  • Form 10-Q - Q2 2024

    Period End: Jun 30, 2024|Filed: Aug 6, 2024|
    Revenue: $3.77M-90.5%
    |
    EPS: $-0.18+0.0%
    Miss

  • Form 10-Q - Q1 2024

    Period End: Mar 31, 2024|Filed: May 8, 2024|
    Revenue: $7.76M-32.1%
    |
    EPS: $-0.14-33.3%
    Miss

  • Form 10-K - FY 2023

    Period End: Dec 31, 2023|Filed: Mar 13, 2024|
    Revenue: $341.54M+134.1%
    |
    EPS: $-0.69-7.8%
    Miss