Energy Vault Holdings, Inc. (NRGV) Stock

Energy Vault Holdings, Inc. (NRGV) is a Industrials stock trading at $3.74 (as of 2026-08-20), with a market capitalization of $680.08M. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Energy Vault Holdings, Inc. develops and sells gravity-based energy storage solutions, including its EVx Platform and Energy Vault Resiliency Center, along with related energy storage offerings. These systems are used by utilities, independent power producers, and large energy users to store and dispatch power for grid resiliency and power portfolio management.

Understand Energy Vault Holdings, Inc.: how it makes money

Energy Vault builds gravity-based energy storage systems (including the EVx Platform and a resiliency-focused product line) and monetizes them through battery storage sales and EVx licensing deals, serving utilities, independent power producers, and large energy users.

The profit model depends on turning developed pipeline progress (pipeline value, contracted megawatts, and new project awards) into realized battery storage revenue and EVx licensing revenue, but the latest quarter shows a deeply negative operating margin (-110.6%), indicating high costs relative to current revenue.

Revenue by segment (latest quarter)
Battery Storage$0.1B
EVx Licensing$0.0B
Other Revenue$0.0B

Business quality (Weak): Operating metrics are specific (contracted megawatts, pipeline value), but segment revenue candidates do not clearly reconcile to the provided total revenue shown as 0.0B for the quarter, so segment-level interpretation is limited.

Bull case

  • Progress converting development into commitments: Contracted Megawatts is 540.0, and gravity EVX New Project Awards is 0.72 USD_B.
  • Operational performance in place: Uptime Across Storage Projects is 99.0 percent.

Bear case

  • Loss-making quarter on an operating basis: Operating margin for the latest quarter is -110.6 percent.
  • Revenue base appears small versus cost structure: The latest quarter revenue is shown as 0.0B, while available segment revenue candidates are small, which can amplify the impact of expenses.
  • Near-term growth may rely on a narrow set of licensing deals: EVX licensing revenue is broken out for specific deals (Egypt and Atlas), while Software and Services Revenue is listed as 0.0B.
Valuation — source: SEC EDGAR (first-party)
Price$3.74
Market Cap$680.08M
Price / Book99.18
Price / Sales3.01
FCF Yield-21.3%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$203.67M
Net Margin-50.9%
Return on Equity-1600.2%
Debt / Equity35.44
Current Ratio1.19
Revenue Growth (YoY)104.1%
EPS Growth (YoY)-22.7%
FCF Growth (YoY)-671.6%
Financial Health — source: SEC EDGAR
Altman Z-Score-0.90 (distress)
Piotroski F-Score4/9 (moderate)
Valuation vs Sector & Industry
Sector P/E (Industrials)25.9
Industry P/E (Electrical Equipment)37.8
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderSB INVESTMENT ADVISERS (UK) LTD ($51.27M)
Institutional Holders Tracked10
Company
SectorIndustrials
IndustryElectrical Equipment
CEORobert Allen Piconi
Employees158
CountryUS
IPO Date2021-03-29

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NRGV earnings history · NRGV institutional & insider holders · NRGV KPIs & operating metrics · NRGV financials · NRGV investor presentations & press releases · NRGV SEC filings · NRGV peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.