What is NET Power's cash ratio?

NET Power (NPWR) reported cash ratio of 10.3× in Q1 2026.

How has NET Power's cash ratio changed year-over-year?

NET Power's cash ratio decreased by 27.3% year-over-year, from 14.2× to 10.3×.

What is the long-term trend for NET Power's cash ratio?

Over 4 years (2021 to 2025), NET Power's cash ratio has grown at a -3.7% compound annual growth rate (CAGR), from 4.9× to 4.3×.

What does cash ratio mean?

Cash and equivalents divided by current liabilities at the quarter end. The most conservative liquidity measure — what the company could pay immediately with cash on hand.

NET Power NPWR Cash ratio

Cash ratio at other companies

Nextra EnergyNEE

0.1×0.0×

Ormat TechnologiesORA

0.6×+0.5×

NuScale PowerSMR

11.2×+5.5×

FIP

FTAI Infrastructure Inc.FIP

0.1×0.0×

ArganAGX

0.4×0.0×

Natural Gas Services GroupNGS

0.1×0.0×

Other financials

Income statement

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Revenue-—

Gross profit-—

Operating income-$34.2M+92.8%

Net income-$9.9M+91.7%

EPS (diluted)-$0.12+92.3%

Balance sheet

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Cash & equivalents$134.3M-55.6%

Total debt$3.6M+28.6%

Total equity$205.3M-67.8%

Total assets$542.8M-70.5%

Cash flow

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Operating cash flow-$51.1M-151%

CapEx$8.2M-8.2%

Free cash flow-$59.3M-102%

Valuation

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Market cap$147.6M-21.2%

Enterprise value$16.8M-115%

Profitability

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Gross margin91.7%+4.3pp

Operating margin-5,523,266.7%-5,662,660pp

Net margin-1,508,283.3%-1,547,773pp

FCF margin-1,076,558.3%-1,129,620pp

Returns & leverage

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Return on equity-111.4%-154pp

Debt / equity0×0.0×

Current ratio23.8×+0.5×

Where this comes from

Calculated from NET Power’s reported figures.

cash and equivalents/total current liabilities=10.3×

Based on the most recent quarter.

The official record: NET Power’s 10-Q, filed May 11, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is NET Power's cash ratio?: NET Power (NPWR) reported cash ratio of 10.3× in Q1 2026.
How has NET Power's cash ratio changed year-over-year?: NET Power's cash ratio decreased by 27.3% year-over-year, from 14.2× to 10.3×.
What is the long-term trend for NET Power's cash ratio?: Over 4 years (2021 to 2025), NET Power's cash ratio has grown at a -3.7% compound annual growth rate (CAGR), from 4.9× to 4.3×.
What does cash ratio mean?: Cash and equivalents divided by current liabilities at the quarter end. The most conservative liquidity measure — what the company could pay immediately with cash on hand.