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Energy Vault Holdings

NRGV

Energy Vault Holdings, Inc. provides a diversified portfolio of energy storage solutions, including proprietary gravity, battery, and green hydrogen technologies.

Market cap
$721.9M+89.0%
Revenue$225.9M+337%
Net income-$109.7M+24.1%
Free cash flow-$144.7M-24.3%
EPS (diluted)-$0.67+29.5%
Trailing twelve months · change vs. prior year

Earnings

Next report

Nov 9, 2026 (in 2 months)
Revenue estimate$18.6M
EPS estimate-$0.16

Financials

Q2 2026

Income statement

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Revenue$17.4M+104%
Gross profit$5.4M+114%
Operating income-$24.7M+12.4%
Net income-$29.7M+15.0%
EPS (diluted)-$0.18+18.2%

Balance sheet

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Cash & equivalents$148.0M+155%
Total debt$244.9M+288%
Total equity$6.9M-92.4%
Total assets$370.5M+48.9%

Cash flow

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Operating cash flow-$30.6M-299%
CapEx$9.1M+8.8%
Free cash flow-$39.7M

Valuation & ratios

Valuation

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Market cap$721.9M+89.0%
Enterprise value$818.81M+112%
P/S3.2×-4.2×

Profitability

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Gross margin22.5%+2.2pp
Operating margin-32.8%-15.2pp
Net margin-48.6%-22.0pp
FCF margin-64.1%

Returns & leverage

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Return on equity-225.9%-1,190pp
Debt / equity35.7×+35.0×
Current ratio1.2×+0.5×

Segments

By product

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Sale of energy storage products$14.7M+90.6%
Operation and maintenance services$445.0K+60.6%
Software licensing$187.0K+55.8%
Intellectual property (“IP”) licensing$15.0K+7.1%

By segment

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Reportable Segment$17.4M+104%

Competitors

Profile

Energy Vault Holdings, Inc. provides a diversified portfolio of energy storage solutions, including proprietary gravity, battery, and green hydrogen technologies. The company offers an integrated model that spans project development, engineering, and long-term operations, supported by a technology-agnostic energy management software platform. Its core value proposition focuses on enhancing grid stability and enabling renewable energy integration through flexible, multi-duration storage assets.

Competitive position

Energy Vault differentiates itself through a technology-agnostic software platform and a diverse hardware portfolio that addresses both short-duration battery needs and long-duration gravity or hydrogen requirements.

GeographiesUnited States, Australia, Europe, India
Customer segmentsUtilities, Independent Power Producers, Commercial and Industrial, Public Sector
Business modelEquipment Sales, Licensing and Royalties, Subscription SaaS, Build-Own-Operate, EPC Services
SuppliersLithium-ion battery cell manufacturers, Inverter and balance-of-system suppliers, Steel and aluminum providers, Hydrogen fuel cell manufacturers
CustomersUtility-scale power grids, Data center operators, Municipal utilities, Large-scale industrial energy users
Listed2022
Employees183.0
CEORobert Piconi
SectorUtilities
FilingsSEC EDGAR

FAQ

What is Energy Vault Holdings's market cap?
Energy Vault Holdings (NRGV) has a market capitalization of $721.9M and trades on NYSE.
What is Energy Vault Holdings's revenue and profitability?
Energy Vault Holdings generated $225.9M in trailing twelve-month revenue with a net loss of $109.7M, representing a net margin of -48.6%. Gross margin stands at 22.5%, with free cash flow of -$144.7M. The latest reported period is Q2 2026.
Who are Energy Vault Holdings's competitors?
Energy Vault Holdings's key competitors include Fluence Energy, Inc., ESS Inc., Eos Energy Enterprises Inc., and others. These companies compete in similar markets and product categories.
Who does Energy Vault Holdings partner with?
Energy Vault Holdings's notable partners include Orion Infrastructure Capital, Gridmatic, Pacific Gas & Electric, and others.
What subsidiaries does Energy Vault Holdings have?
Energy Vault Holdings's subsidiaries include Asset Vault.
Where is Energy Vault Holdings headquartered?
Energy Vault Holdings is headquartered in United States of America and employs approximately 183 people. It has been publicly traded since 2022.