NET Power Inc. (NPWR) Key Metrics
NPWR valuation today
Trailing 12 months · as of October 17, 2026- Market cap
- $88.5M
- Enterprise value
- −$153.8M
- P/E (TTM)
- —
- Forward P/E
- —
- PEG ratio
- —
- Price / sales
- —
- Price / book
- 1.8 10-yr median 0.9
- EV / EBITDA
- —
- Dividend yield
- —
- Beta
- 1.17
NPWR key metrics, 2020–2025
Fiscal year ended December 31, 2025 · U.S. dollarsNPWR valuation Price multiples at each fiscal year-end price.
NPWR returns How much profit the business earns on the capital it uses.
NPWR per-share figures Results divided by the shares outstanding at year-end.
NPWR financial health Debt, liquidity and how easily interest is covered.
NPWR efficiency & capital use Working capital cycle and where the cash goes.
NPWR valuation history
NPWR returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
NPWR debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
NPWR cash returned to shareholders
NPWR price vs earnings per share
NPWR key metrics
2020–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|
| Valuation | ||||||
| Market capitalization | $179.7M | $777.3M | $416.0M | — | — | — |
| Enterprise value | −$154.4M | $272.8M | −$218.7M | — | — | — |
| Price / book | 0.9 | 1.2 | 0.5 | — | — | — |
| EV / sales | — | — | -1,250.0 | — | — | — |
| Earnings yield | −321.9% | −6.3% | −18.6% | — | — | — |
| Free cash flow yield | −85.7% | −13.1% | −14.6% | — | — | — |
| Dividend yield | — | 0.0% | — | — | — | — |
| Shareholder yield (dividends + buybacks) | — | 0.0% | 52.6% | — | — | — |
| Share price at fiscal year-end | $2.28 | $10.59 | $10.10 | $10.17 | $10.00 | — |
| Per share | ||||||
| Revenue per share | $0.00 | $0.00 | $0.00 | — | — | — |
| Earnings per share | −$7.34 | −$0.67 | −$1.87 | — | — | — |
| Operating cash flow per share | −$1.53 | −$0.43 | −$1.19 | — | — | — |
| Free cash flow per share | −$1.95 | −$1.38 | −$1.47 | — | — | — |
| Cash per share | $4.29 | $6.92 | $15.46 | — | — | — |
| Book value per share | $2.59 | $8.93 | $19.06 | — | — | — |
| Tangible book value per share | $0.28 | −$12.88 | −$22.97 | — | — | — |
| Dividends per share | — | $0.00 | — | — | — | — |
| Capex per share | $0.42 | $0.95 | $0.28 | — | — | — |
| Debt per share | $0.05 | $0.04 | $0.05 | — | — | — |
| Shares outstanding | 78.8M | 73.4M | 41.2M | — | — | — |
| Change in shares outstanding | +7.4% | +78.2% | — | — | — | — |
| Returns & profitability | ||||||
| Return on equity (ROE) | −134.6% | −6.8% | −18.2% | −29.5% | −18.9% | −36.9% |
| Return on invested capital (ROIC) | — | −95.1% | −171.1% | −21.3% | −15.0% | −33.5% |
| Return on assets (ROA) | −40.0% | −2.1% | −6.1% | −25.7% | −16.8% | −34.0% |
| Return on tangible assets | −138.4% | −7.1% | −10.4% | −70.3% | −11.0% | −34.1% |
| Free cash flow margin | — | — | — | — | −63.3% | — |
| Financial health | ||||||
| Total debt | $3.8M | $3.1M | $2.2M | $786,000 | $7.0M | — |
| Cash & short-term investments | $337.9M | $507.6M | $636.9M | $5.2M | $2.6M | $12.8M |
| Net debt | −$334.1M | −$504.5M | −$634.8M | −$4.4M | $4.4M | −$12.8M |
| Debt / equity | 0.02 | 0.00 | 0.00 | 0.01 | 0.02 | — |
| Debt / assets | 0.01 | 0.00 | 0.00 | 0.01 | 0.02 | — |
| Current ratio | 7.24 | 28.65 | 53.31 | 0.89 | 6.40 | 1.60 |
| Quick ratio | 7.24 | 28.65 | 53.31 | 0.89 | 6.40 | 1.60 |
| Interest coverage | — | -5.8 | — | -10.4 | -65.0 | — |
| Working capital | $296.3M | $495.1M | $628.8M | −$956,000 | $2.8M | $5.1M |
| Invested capital | −$130.2M | $151.1M | $150.2M | $60.0M | $310.9M | $85.8M |
| Tangible asset value | $353.6M | $561.0M | $599.7M | $64.1M | $305.8M | $98.3M |
| Net current asset value | $279.3M | $381.1M | $498.5M | −$6.2M | −$39.0M | $5.1M |
| Graham net-net per share | $3.48 | $5.16 | $12.04 | — | — | — |
| Capital allocation | ||||||
| Dividends paid | — | $0 | — | $0 | — | — |
| Share buybacks (net) | — | $0 | $219.0M | $0 | — | — |
| Capex / revenue | — | 27,941.6% | 6,656.0% | 19.8% | 0.0% | 488.9% |
| Capex / depreciation | 0.53 | 0.86 | 0.23 | 0.01 | 0.00 | 0.02 |
| Stock-based compensation / revenue | — | 13,466.4% | 62,457.1% | 2,176.2% | — | — |
| R&D / revenue | — | 25,541.2% | 22,876.0% | 3,267.8% | 480.7% | 16,415.6% |
| SG&A / revenue | — | 13,403.2% | 22,811.4% | 3,101.7% | 767.3% | 32,413.3% |
| Efficiency | ||||||
| Days sales outstanding | — | 4,147.9 | 2,452.8 | 113.3 | 3.6 | 275.8 |
| Days of inventory on hand | — | — | — | -5.3 | 0.0 | 0.0 |
| Days payables outstanding | 13.2 | 344.8 | 196.8 | 478.1 | 168.5 | 6,135.9 |
| Cash conversion cycle (days) | — | 3,803.0 | 2,256.0 | -370.1 | -164.9 | -5,860.2 |
| Receivables turnover | 0.00 | 0.09 | 0.15 | 3.22 | 100.24 | 1.32 |
| Payables turnover | 27.55 | 1.06 | 1.85 | 0.76 | 2.17 | 0.06 |
| Inventory turnover | — | — | — | — | 829,000.00 | 37,000.00 |
| Asset turnover | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 | 0.00 |
| Average receivables | $2.5M | $2.8M | $1.2M | $179,980 | $20,980 | $34,000 |
| Average payables | $2.3M | $1.9M | $597,000 | $360,202 | $382,702 | $622,000 |
| Average inventory | — | — | — | −$3,980 | $1 | $1 |
| Intangibles / total assets | 30.3% | 69.8% | 70.0% | 0.3% | 0.1% | 0.3% |
Computed from NPWR's annual financial statements (latest annual report filed March 9, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
NPWR valuation and financial ratios
NET Power earned a return on equity of −134.6% in fiscal 2025. It ended the year with $3.8 million of debt and $337.9 million in cash and short-term investments, a net cash position of $334.1 million.
See the NPWR income statement, the NPWR chart for price history, or the NPWR stock overview for the latest quote and news.
NPWR key metrics FAQ
What is NET Power's return on equity?
NET Power's return on equity (ROE) was −134.6% in fiscal 2025: net income of -$578.5 million on average shareholders' equity of $429.8 million.
How much debt does NET Power have?
NET Power had total debt of $3.8 million at the end of fiscal 2025, a debt-to-equity ratio of 0.02 and more cash than debt.
What is NET Power's free cash flow yield?
NET Power generated -$154.0 million of free cash flow in fiscal 2025, a free cash flow yield of −85.7% on its market value at year-end ($179.7 million).
What is NET Power's current ratio?
NET Power's current ratio was 7.24 at the end of fiscal 2025: current assets were 7.24 times current liabilities.