What is Energy Vault Holdings's free cash flow margin?

Energy Vault Holdings (NRGV) reported free cash flow margin of -247.8% in Q1 2025.

What does free cash flow margin mean?

Free cash flow (operating cash flow minus capital expenditures) as a percentage of revenue, trailing twelve months. Measures how efficiently revenue converts into discretionary cash.

Energy Vault Holdings NRGV Free cash flow margin

Free cash flow margin at other companies

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7.2%+0.1pp

Eos Energy Enterprises, Inc.EOSE

-240.1%-102pp

Fluence Energy, Inc.FLNC

-16.9%—

XPLR Infrastructure, LPXIFR

-21.2%-64.7pp

Shoals Technologies Group, Inc.SHLS

3%-17.7pp

Enphase EnergyENPH

10.4%-22.8pp

Other financials

Income statement

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Revenue$21.9M+156%

Gross profit$4.8M-1.8%

Operating income-$24.2M-15.8%

Net income-$32.5M-53.7%

EPS (diluted)-$0.20-42.9%

Balance sheet

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Cash & equivalents$117.1M+148%

Total debt$211.4M+643%

Total equity$30.5M-73.5%

Total assets$298.0M+37.1%

Cash flow

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Operating cash flow-$53.8M-1,871%

CapEx$7.1M+4.1%

Free cash flow-$60.9M-540%

Valuation

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Market cap$759.33M+502%

Enterprise value$853.62M+695%

P/S3.5×+0.8×

Profitability

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Gross margin22.1%+2.9pp

Operating margin-35.8%-16.6pp

Net margin-53%-23.8pp

Returns & leverage

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Return on equity-158.2%+1,524pp

Debt / equity6.9×+6.7×

Current ratio1.4×+0.6×

Where this comes from

Calculated from Energy Vault Holdings’s reported figures.

free cash flow/total revenue=-247.8%

Based on trailing twelve months.

The official record: Energy Vault Holdings’s 10-Q, filed May 19, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Energy Vault Holdings's free cash flow margin?: Energy Vault Holdings (NRGV) reported free cash flow margin of -247.8% in Q1 2025.
What does free cash flow margin mean?: Free cash flow (operating cash flow minus capital expenditures) as a percentage of revenue, trailing twelve months. Measures how efficiently revenue converts into discretionary cash.