Energy Vault Holdings, Inc. (NRGV) AI Stock Analysis
NRGV AI stock analysis summary
AI ResearchEnergy Vault Holdings, Inc. develops scalable gravity-based and grid resiliency energy storage systems. While revenue rebounded 340.9% in FY2025 to $203.7M, the company posted a net income of -$103.6M and holds $245.0M in total debt. Trailing twelve month operating margin stands at -142.0%, reflecting ongoing profitability challenges.
- Market cap
- $516.4M
- Revenue (TTM)
- $225.9M
- P/E
- —
- 1Y return
- -26.8% S&P 500 16.8%
- Avg. target
- $6.21 118.5% vs last close
Bull case
- FY2025 revenue surged 340.9% to $203.7M, contributing to a 4-year revenue CAGR of 47.6%.
- The consensus analyst price target of $6.21 implies an upside of 118.5% above the $2.84 share price.
- Revenue in the latest quarter ended June 30, 2026, grew 104.1% year-over-year to support $225.9M in trailing twelve-month revenue.
Bear case
- The company remains unprofitable, reporting a trailing twelve months net profit margin of -48.6% and FY2025 net income of -$103.6M.
- Energy Vault carries $245.0M in total debt against $93.0M in cash, resulting in a high debt-to-equity ratio of 35.73.
- Shareholders have experienced dilution, with total share count increasing 66.4% over five years.
What Energy Vault does
Energy Vault Holdings, Inc. specializes in the development and sale of energy storage solutions designed for the power industry. Its flagship offerings include the EVx Platform, a modular, gravity-based storage system ranging from 40-megawatt hour to multi-gigawatt hour capacities for shorter-duration grid resiliency. The company also offers the Energy Vault Resiliency Center, a gigawatt-hour scale product line built to manage power fluctuations during energy-disruptive climate events. Based in Westlake Village, California, Energy Vault helps utilities, independent power producers, and large energy users optimize power dispatching and enhance grid stability.
Growth and profitability
Energy Vault generated revenue of $42.9M in FY2021, rising to $145.9M in FY2022 and $341.5M in FY2023. In FY2024, revenue fell 86.5% to $46.2M before recovering 340.9% to $203.7M in FY2025, delivering a 4-year revenue CAGR of 47.6%. Gross margin reached 23.6% in FY2025, up from 13.4% in FY2024. However, operating margin remained negative at -36.5% in FY2025, with net income of -$103.6M. Over the trailing twelve months ended June 30, 2026, revenue stood at $225.9M with a profit margin of -48.6%, though quarterly revenue grew 104.1% year-over-year.
Balance sheet and cash flow
As of June 30, 2026, Energy Vault held $93.0M in cash and short-term investments against total debt of $245.0M, resulting in net debt of $151.9M. Total assets were $370.5M, while shareholders' equity stood at $6.9M, producing a debt-to-equity ratio of 35.73 and a current ratio of 1.19. In FY2025, operating cash flow was -$5.6M, free cash flow was -$46.7M, and capital expenditures totaled $41.1M. Share count increased 66.4% over five years.
Valuation and performance
Energy Vault trades at a price-to-sales ratio of 2.3x, slightly below the 2.4x median of its US-listed Utilities peers. Its enterprise value-to-revenue ratio is 4.5x, and price-to-book stands at 125.9x. The stock closed at $2.84 on October 16, 2026, leaving it 29.8% below its 200-day moving average. Over the past year, NRGV shares fell 26.8%, compared to a 16.8% gain for the S&P 500 (SPY). Over five years, the stock dropped 71.2% versus an 83.0% gain for the benchmark.
What analysts expect
Of five analyst ratings, four are Strong Buy and one is Strong Sell. The mean price target is $6.21, representing an upside of 118.5% over the last close of $2.84. For the fiscal year ending December 31, 2026, analysts estimate an EPS of -$0.29 on revenue of $294.9M. For the next fiscal year, four analysts forecast revenue of $495.3M and an EPS of -$0.13. The company beat EPS estimates in two of the last four quarters. The next earnings date is November 10, 2026.
Key risks and what to watch
- Free cash flow was -$46.7M in FY2025, creating continuous cash burn against $93.0M in cash and short-term investments.
- Short interest represents 22.2% of the float, indicating elevated negative sentiment.
- Annual top-line performance shows extreme volatility, falling 86.5% in FY2024 before increasing 340.9% in FY2025.
- Operating margin remains heavily negative at -142.0% for the trailing twelve months ended June 30, 2026.
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 NRGV AI stock analysis
This page is an AI-written research summary of Energy Vault Holdings, Inc. (NRGV). 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: NRGV income statement, NRGV balance sheet, NRGV key metrics, NRGV analyst forecast, NRGV chart. See the NRGV stock overview for the latest quote and news.
NRGV AI stock analysis FAQ
What is Energy Vault's main product?
Energy Vault develops the EVx Platform, a modular gravity-based storage system ranging from 40-megawatt hour to multi-gigawatt hour capacities. It also provides the Energy Vault Resiliency Center designed for climate event disruptions.
Does Energy Vault pay a dividend?
Energy Vault does not pay a dividend. The company directs capital toward operations and expansion, recording $41.1M in capital expenditures in FY2025.
When is Energy Vault's next earnings report?
Energy Vault is scheduled to report its next earnings on November 10, 2026. Over the prior four quarters, it beat consensus EPS estimates two times.
What are analysts forecasting for NRGV?
Analysts project FY2026 revenue of $294.9M and an EPS of -$0.29. For the following fiscal year, four analysts forecast revenue of $495.3M and an EPS of -$0.13, with a mean price target of $6.21.