NET Power Inc. (NPWR) AI Stock Analysis
NPWR AI stock analysis summary
AI ResearchNET Power Inc. is a clean energy technology company focused on developing and licensing low-emission power generation systems. As of June 30, 2026, the company held $308.4M in cash and short-term investments against $3.3M in total debt. However, it generated $0 in trailing twelve month revenue and reported a net income of -$49.2M in FY2024.
- Market cap
- $88.5M
- Revenue (TTM)
- $0
- P/E
- —
- 1Y return
- -75.4% S&P 500 16.8%
- Avg. target
- $2.85 185.0% vs last close
Bull case
- NET Power maintains a net cash balance of $305.1M with $308.4M in cash and short-term investments against $3.3M in debt as of June 30, 2026.
- The company reported a high current ratio of 17.80 as of June 30, 2026, providing substantial short-term liquidity.
- Wall Street analysts hold a mean price target of $2.85, indicating potential upside of 185.0% above the last closing price of $1.00.
Bear case
- The company generated $0 in revenue over the trailing twelve months ended June 30, 2026, accompanied by an EPS of -$6.45.
- Free cash flow stood at -$101.5M in FY2024, reflecting ongoing cash burn driven in part by $63.9M in R&D expenses.
- NPWR shares fell 75.4% over the past year, while the S&P 500 gained 16.8%.
What NET Power does
NET Power Inc., based in Durham, North Carolina, develops and licenses clean energy technologies designed to lower environmental impact and reduce carbon emissions. Founded in 2010, the company focuses on novel power generation systems aimed at enhancing energy efficiency and addressing global energy challenges. With 54 employees, NET Power conducts research and development to pioneer advanced power generation technologies, aiming to set new industry standards and advance sustainable energy solutions worldwide.
Growth and profitability
Between FY2020 and FY2024, NET Power delivered a revenue CAGR of 53.5%, moving from $45,000 in FY2020 to $2.1M in FY2021 before declining to $580,000 in FY2022 and $175,000 in FY2023. In FY2024, revenue grew 42.9% to $250,000, with gross margin at -685.2% and operating margin at -72528.4%. Net income stood at -$49.2M in FY2024, compared to -$77.2M in FY2023 and -$36.4M in FY2020. Research and development expenses grew to $63.9M in FY2024 from $7.4M in FY2020. For the trailing twelve months ended June 30, 2026, revenue was $0 with quarterly revenue growth of 90.4% year-over-year, while diluted EPS was -$6.45.
Balance sheet and cash flow
As of June 30, 2026, NET Power held $308.4M in cash and short-term investments and $3.3M in total debt, yielding net cash of $305.1M. Its current ratio stood at 17.80, with total assets of $338.3M and shareholders' equity of $83.5M, reflecting a debt-to-equity ratio of 0.04. Free cash flow was -$101.5M in FY2024, alongside operating cash flow of -$31.6M. Capital expenditures totaled $33.2M in FY2025, while the 5-year share count change was 2386.4%.
Valuation and performance
NET Power carries a market capitalization of $88.5M and an enterprise value of -$153.8M. Its price-to-book ratio is 1.8x. In comparison, the median of its US-listed Industrials peers trades at a trailing P/E of 24.8x, a forward P/E of 17.2x, and a price-to-sales ratio of 1.5x. Over the past year, NPWR shares fell 75.4%, compared to a 16.8% gain for the S&P 500. Over 5 years, the stock dropped 89.9%, while the S&P 500 rose 83.0%.
What analysts expect
Wall Street coverage includes 4 Strong Buy ratings and 1 Hold rating. The mean price target is $2.85, representing a 185.0% premium over the last close of $1.00 on October 16, 2026. For the fiscal year ending December 31, 2026, analysts estimate an EPS of -$0.39 on revenue of $0. For the following fiscal year, 1 analyst projects EPS of -$0.08 and revenue of $0. NET Power recorded 0 EPS beats over the last 4 quarters. The next earnings date is November 12, 2026.
Key risks and what to watch
- The share count expanded by 2386.4% over 5 years, highlighting substantial historical equity dilution.
- Free cash flow dropped to -$101.5M in FY2024 while capital expenditures reached $33.2M in FY2025, which could deplete cash reserves if sustained.
- The stock is trading down 45.3% versus its 200-day moving average and sits near its 52-week low of $0.99.
- NET Power missed consensus EPS benchmarks in all of the last 4 quarters, recording 0 EPS beats.
AI-generated research summary. Written with AI from Quotelinks data as of October 16, 2026 and checked so every figure matches that data. For information only, not investment advice. Disclaimer
About this NPWR AI stock analysis
This page is an AI-written research summary of NET Power Inc. (NPWR). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.
Related: NPWR income statement, NPWR balance sheet, NPWR key metrics, NPWR analyst forecast, NPWR chart. See the NPWR stock overview for the latest quote and news.
NPWR AI stock analysis FAQ
Does NET Power pay a dividend?
No, NET Power does not currently pay a dividend.
What is NET Power's cash and debt position?
As of June 30, 2026, NET Power held $308.4M in cash and short-term investments alongside $3.3M in total debt. This results in a net cash position of $305.1M and a current ratio of 17.80.
What are analysts forecasting for NET Power's earnings and revenue?
For the fiscal year ending December 31, 2026, analysts forecast EPS of -$0.39 and revenue of $0. For the following fiscal year, 1 analyst projects EPS of -$0.08 on $0 in revenue.
When does NET Power report its next quarterly earnings?
NET Power is scheduled to report its next earnings on November 12, 2026.
Who owns NET Power stock?
Insiders own 47.4% of the company, institutional investors hold 44.7%, and short interest accounts for 5.5% of the float.