Invinity Energy Systems PLC (GB:IES)
LSE:IES
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Invinity Energy Systems
(LSE:IES)
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Rating:49Neutral
Price Target:
31.00 p
▲(83.98% Upside)
Action:Reiterated
Date:06/02/26
The score is held back primarily by weak financial performance—persistent operating losses and ongoing cash burn—despite a conservative leverage profile. Technicals are supportive due to strong trend strength, but extremely overbought momentum adds near-term risk. Earnings-call updates are moderately positive on cost reductions, partnerships, and funding runway, but valuation remains constrained by continuing losses and no dividend support.
Positive Factors
Strong LDES competitive position
Selection in 21 of 77 Cap & Floor projects is a durable signal of product-market fit in long-duration energy storage. It strengthens a multi-project pipeline, underpins recurring project wins and referenceability, and supports sustained demand as grids integrate more intermittent renewables.
Negative Factors
Persistent negative cash flow
Consistent negative operating cash flow and heavy free-cash-flow burn indicate the core business consumes capital rather than generates it. This persistent cash drain requires ongoing external funding until margins improve, increasing dilution risk and constraining long-term investment flexibility.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong LDES competitive position
Selection in 21 of 77 Cap & Floor projects is a durable signal of product-market fit in long-duration energy storage. It strengthens a multi-project pipeline, underpins recurring project wins and referenceability, and supports sustained demand as grids integrate more intermittent renewables.
Read all positive factors
Invinity Energy Systems (IES) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£216.70M
Dividend YieldN/A
Average Volume (3M)622.80K
Price to Earnings (P/E)―
Beta (1Y)0.36
Revenue Growth63.15%
EPS Growth23.46%
CountryUK
Employees140
SectorIndustrials
Sector Strength72
IndustryRenewable Utilities
Share Statistics
EPS (TTM)N/A
Shares Outstanding568,766,850
10 Day Avg. Volume684,278
30 Day Avg. Volume622,798
Financial Highlights & Ratios
PEG Ratio0.16
Price to Book (P/B)1.33
Price to Sales (P/S)10.84
P/FCF Ratio-2.59
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
£35.00Price Target Upside107.72% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Invinity Energy Systems Business Overview & Revenue Model
Company Description
Invinity Energy Systems plc, founded in 2006 and based in Saint Helier, United Kingdom, is a prominent manufacturer and global supplier of vanadium flow batteries (VFBs). These batteries provide essential energy storage solutions across various in...
How the Company Makes Money
IES primarily makes money by selling vanadium flow battery-based energy storage systems to customers such as utilities, grid operators, and commercial/industrial energy users. Revenue is generally generated from (1) system/equipment sales (battery...
Invinity Energy Systems Financial Statement Overview
Summary
Income Statement
22
Negative
Balance Sheet
66
Positive
Cash Flow
18
Very Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 8.18M | 5.01M | 22.01M | 2.94M | 3.19M |
| Gross Profit | -2.87M | -3.51M | -3.35M | 17.00K | -3.44M |
| EBITDA | -22.59M | -21.31M | -20.97M | -17.12M | -20.60M |
| Net Income | -24.09M | -22.80M | -23.18M | -18.59M | -21.04M |
Balance Sheet | |||||
| Total Assets | 81.05M | 75.56M | 41.97M | 53.09M | 66.64M |
| Cash, Cash Equivalents and Short-Term Investments | 28.79M | 35.35M | 5.01M | 5.14M | 26.36M |
| Total Debt | 2.00M | 1.70M | 1.56M | 1.71M | 770.00K |
| Total Liabilities | 14.61M | 9.89M | 8.16M | 18.70M | 15.40M |
| Stockholders Equity | 66.43M | 65.67M | 33.81M | 34.39M | 51.24M |
Cash Flow | |||||
| Free Cash Flow | -34.21M | -26.20M | -20.40M | -22.58M | -23.71M |
| Operating Cash Flow | -17.21M | -24.89M | -19.36M | -21.87M | -22.96M |
| Investing Cash Flow | -9.50M | -1.30M | -984.00K | -708.00K | -751.00K |
| Financing Cash Flow | 23.42M | 53.62M | 20.13M | 1.29M | 28.10M |
Invinity Energy Systems Technical Analysis
Positive
16.85
Price Trends
26.02
Positive
22.17
Positive
21.16
Positive
Market Momentum
3.13
Positive
65.39
Neutral
88.08
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:IES, the sentiment is Positive. The current price of 16.85 is below the 20-day moving average (MA) of 35.45, below the 50-day MA of 26.02, and below the 200-day MA of 21.16, indicating a bullish trend. The MACD of 3.13 indicates Positive momentum. The RSI at 65.39 is Neutral, neither overbought nor oversold. The STOCH value of 88.08 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:IES.
Invinity Energy Systems Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
51 Neutral | £906.43M | -26.27 | -14.17% | ― | 23.20% | 18.73% | |
49 Neutral | £216.70M | -7.47 | -39.44% | ― | 63.15% | 23.46% | |
49 Neutral | £1.45B | -28.19 | -39.26% | ― | -37.09% | -67.49% | |
47 Neutral | £68.27M | -2.49 | -203.60% | ― | ― | -205.59% |
* Industrials Sector Average
GB:IES
Invinity Energy Systems
38.10
15.10
65.65%
GB:CWR
Ceres Power Holdings
676.50
599.20
775.16%
GB:ITM
ITM Power
131.10
57.90
79.10%
GB:GWIN
Gowin New Energy Group Ltd.
0.08
0.05
150.00%
GB:CPH2
Clean Power Hydrogen PLC
13.60
7.70
130.51%
Invinity Energy Systems Corporate Events
Business Operations and Strategy
Invinity Wins 32 MWh U.S. Steel Mill Deal Backed by California Energy Commission
Positive
Jun 15, 2026
Invinity Energy Systems has agreed to sell a 32 MWh vanadium flow battery system to Pacific Steel Group for its Mojave Micro Mill project in Kern County, California. Backed by funding from the California Energy Commission’s long-duration ene...
Financial DisclosuresShareholder Meetings
Invinity sets June 2026 AGM, urges shareholders to vote by proxy
Neutral
Jun 1, 2026
Invinity Energy Systems has released its 2025 full-year results and scheduled its next Annual General Meeting for 25 June 2026 in London, with AGM materials and proxy forms now available through the company’s shareholder portal. The company ...
Business Operations and Strategy
Invinity Wins DOE-Backed 2 MWh Microgrid Deal in Wisconsin
Positive
Jun 1, 2026
Invinity Energy Systems has sold a 2 MWh Endurium Enterprise vanadium flow battery system into a U.S. Department of Energy-funded microgrid project on the Bad River tribal reservation in Ashland, Wisconsin. The installation, part of Project VITALI...
Business Operations and StrategyFinancial Disclosures
Invinity accelerates growth as Endurium costs fall and global pipeline expands
Positive
Jun 1, 2026
Invinity Energy Systems reported a sharp acceleration in 2025 trading, with revenue and other income plus project grants rising to £17.8m, a 256% year-on-year increase, and sales volumes jumping more than fivefold to 31.4 MWh alongside a 241%...
Business Operations and Strategy
Invinity Chosen to Design Record-Scale Flow Battery for Swiss AI Datacentre
Positive
May 21, 2026
Invinity Energy Systems has been selected by Switzerland’s FlexBase Group to design a vanadium flow battery of up to 1.5 GWh, potentially expanding to 2.1 GWh, for a new AI datacentre and technology campus in Laufenburg on the Switzerland-Ge...
Business Operations and Strategy
Invinity completes delivery of Europe’s largest vanadium flow battery in UK
Positive
May 12, 2026
Invinity Energy Systems has completed delivery of a 20.7 MWh vanadium flow battery to the Copwood VFB Energy Hub in East Sussex, where it will be paired with a 3 MWp solar array to form Europe’s largest vanadium flow battery once operational...
Business Operations and StrategyFinancial Disclosures
Invinity Accelerates Cost Cuts and Builds Pipeline as Long-Duration Storage Scales Up
Positive
May 5, 2026
Invinity Energy Systems reported strong progress on its Endurium cost-reduction programme, now targeting a minimum 66% cut in product cost per kWh versus its prior VS3 batteries by late 2026, some 18 months ahead of earlier expectations. The compa...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.