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SES AI SES Return on invested capital

Return on invested capital at other companies

QuantumScape Corporation logo
QuantumScape CorporationQS
-43.9%-2.4pp
SLD
Solid PowerSLDP
-25.7%-0.3pp
Enovix Corporation logo
Enovix CorporationENVX
-38.3%-14.5pp
Ultralife logo
UltralifeULBI
-3.3%-8.0pp
Microvast Holdings, Inc. logo
Microvast Holdings, Inc.MVST
7.1%+4.0pp
KULR Technology Group logo
KULR Technology GroupKULR
-52.9%-4.4pp

Other financials

Income statement

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Revenue$5.1M+43.8%
Gross profit$1.1M-55.9%
Operating income-$19.2M+16.6%
Net income-$17.9M+21.0%
EPS (diluted)-$0.05+28.6%

Balance sheet

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Cash & equivalents$64.1M+446%
Total debt$7.1M-23.2%
Total equity$187.1M-24.9%
Total assets$236.2M-18.7%

Cash flow

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Operating cash flow-$13.8M-27.8%
CapEx$656.0K-18.4%
Free cash flow-$14.5M-24.6%

Valuation

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Market cap$207.57M-48.4%
Enterprise value$150.58M-62.3%
P/S8.9×-30.1×

Profitability

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Gross margin27.8%-47.7pp
Operating margin-312.8%-129pp
Net margin-289.6%-119pp
FCF margin-257.7%-99.7pp

Returns & leverage

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Return on equity-31.2%-2.7pp
Debt / equity0.0×
Current ratio6.5×-5.9×

Where this comes from

Calculated from SES AI’s reported figures.

Based on trailing twelve months.

The source filing: SES AI’s 10-Q, filed August 11, 2026. Open the filing →

Filed
Aug 11, 2026, 4:15 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001819142-26-000045

FAQ

What is SES AI's return on invested capital?
SES AI (SES) reported return on invested capital of -39% in Q2 2026.
How has SES AI's return on invested capital changed year-over-year?
SES AI's return on invested capital increased by 4.9% year-over-year, from -41% to -39%.
What is the long-term trend for SES AI's return on invested capital?
Over 2 years (2023 to 2025), SES AI's return on invested capital has grown at a 32.0% compound annual growth rate (CAGR), from -26.8% to -46.6%.
What does return on invested capital mean?
Net operating profit after tax (operating income taxed at the effective rate) divided by average invested capital (debt plus equity minus cash). Measures the after-tax return on all capital put to work in the business, independent of capital structure.

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