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Energy Vault Holdings
(NYSE:NRGV)
Energy Vault Holdings (NRGV) vs. SPDR S&P 500 ETF (SPY)
Energy Vault Holdings Business Overview & Revenue Model
Energy Vault Holdings Earnings Call Summary
Energy Vault Holdings Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 83.84M | 46.20M | 341.54M | 145.88M | 0.00 | 0.00 |
| Gross Profit | 18.99M | 6.19M | 17.53M | 59.30M | -2.44M | 0.00 |
| EBITDA | -128.80M | -134.56M | -97.86M | -69.38M | -28.89M | -14.45M |
| Net Income | -144.71M | -135.75M | -98.44M | -78.30M | -31.34M | -24.17M |
Balance Sheet | ||||||
| Total Assets | 281.88M | 183.89M | 340.75M | 416.71M | 125.29M | 30.38M |
| Cash, Cash Equivalents and Short-Term Investments | 32.70M | 30.02M | 109.92M | 203.04M | 105.13M | 10.05M |
| Total Debt | 62.46M | 1.36M | 1.86M | 1.55M | 1.36M | 2.16M |
| Total Liabilities | 201.33M | 57.63M | 116.96M | 129.00M | 193.96M | 7.97M |
| Stockholders Equity | 80.58M | 126.32M | 223.79M | 287.71M | -68.67M | 22.42M |
Cash Flow | ||||||
| Free Cash Flow | -75.10M | -114.71M | -123.09M | -25.66M | -22.24M | -18.45M |
| Operating Cash Flow | -33.90M | -55.86M | -92.66M | -23.35M | -22.07M | -16.70M |
| Investing Cash Flow | -43.44M | -58.74M | -42.54M | -13.32M | -1.17M | -1.75M |
| Financing Cash Flow | 62.61M | -252.00K | -5.48M | 217.77M | 116.38M | 15.64M |
Energy Vault Holdings Technical Analysis
Energy Vault Holdings Risk Analysis
Energy Vault Holdings Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | $17.65B | 18.10 | 5.60% | 3.62% | 6.62% | 11.55% | |
61 Neutral | $1.97B | 18.89 | 7.64% | ― | 42.09% | 219.69% | |
57 Neutral | $902.71M | -5.92 | -111.44% | ― | -35.99% | -46.51% | |
55 Neutral | $4.26B | -55.65 | -10.72% | ― | -16.15% | -324.40% | |
46 Neutral | $170.70M | -0.48 | ― | ― | 146.01% | 63.18% | |
45 Neutral | $35.63M | -10.28 | -54.43% | ― | -40.99% | -46.52% | |
43 Neutral | $93.11M | -5.78 | -21.33% | ― | ― | 23.66% |
Energy Vault Holdings Corporate Events
On January 5, 2026, Energy Vault announced that it began construction in the fourth quarter of 2025 on the SOSA Energy Center, a 150 MW/300 MWh battery energy storage system in Madison County, Texas, within the ERCOT North market, marking the fourth project in its Asset Vault portfolio and the first to enter construction under its Asset Vault investment platform backed by a $300 million preferred equity commitment from Orion Infrastructure Capital. The project, acquired from Savion, a Shell subsidiary, is targeted to reach commercial operation by the second quarter of 2027 and is expected to generate more than $350 million in total revenue over its technical life, while contributing to over 340 MW of capacity under operation and construction; alongside this, Energy Vault reported a roughly 65% increase in cash and liquidity in the fourth quarter of 2025 to more than $100 million, reinforcing its ability to self-perform EPC and long-term services, deepen its strategic presence in the Texas ERCOT market, and advance its vertically integrated, recurring-revenue “Own & Operate” strategy.
The most recent analyst rating on (NRGV) stock is a Hold with a $5.00 price target. To see the full list of analyst forecasts on Energy Vault Holdings stock, see the NRGV Stock Forecast page.
On December 30, 2025, Energy Vault Holdings amended its existing securities purchase agreement with YA II PN, Ltd. to add a third tranche of $15 million in senior unsecured convertible debentures, bringing the total debenture financing under the arrangement to $65 million following earlier closings on September 22 and December 16, 2025. The new debentures, issued at 98% of principal and maturing on August 30, 2027 with a 7% coupon, carry a fixed conversion price of $7.41 per share and a structured monthly amortization schedule beginning January 26, 2026, subject to market-price-based adjustments, floor-price protections, and caps on ownership and share issuance; proceeds are earmarked for working capital and energy storage project development, while the amended covenants restrict additional indebtedness, variable-rate transactions, and use of the at-the-market equity program, underscoring the company’s continued reliance on private convertible debt financing to fund its storage pipeline and operations.
The most recent analyst rating on (NRGV) stock is a Hold with a $5.00 price target. To see the full list of analyst forecasts on Energy Vault Holdings stock, see the NRGV Stock Forecast page.
On December 16, 2025, Energy Vault Holdings, Inc. completed a subsequent closing under its previously disclosed September 22, 2025 Securities Purchase Agreement with YA II PN, Ltd., issuing an additional $20 million in senior unsecured convertible debentures, bringing the total raised under the arrangement to $50 million. The new debentures, issued at 97% of principal with a 7% annual interest rate and maturing on March 22, 2027, feature a fixed conversion price of $7.53 per share, detailed installment payment mechanics beginning January 26, 2026, caps on the investor’s ownership and conversions, and enhanced payment obligations upon specified amortization events, with net proceeds earmarked to strengthen working capital and support the development, construction and growth of Energy Vault’s energy storage projects through a privately placed, unregistered offering.
The most recent analyst rating on (NRGV) stock is a Hold with a $4.50 price target. To see the full list of analyst forecasts on Energy Vault Holdings stock, see the NRGV Stock Forecast page.
On October 29, 2025, Energy Vault Holdings, Inc. conducted a virtual Analyst and Investor Day, where they presented forward-looking statements about the company’s future operations and financial performance. The event highlighted the company’s strategic plans and the importance of energy storage in supporting global power demands, emphasizing the role of their solutions in addressing the challenges posed by the variability of renewable energy sources.
The most recent analyst rating on (NRGV) stock is a Hold with a $3.50 price target. To see the full list of analyst forecasts on Energy Vault Holdings stock, see the NRGV Stock Forecast page.
On October 23, 2025, Energy Vault Holdings announced the acquisition of a 150 MW/300 MWh battery energy storage project in Madison County, Texas, marking the first project under its Asset Vault platform. This acquisition, supported by a $300 million investment from Orion Infrastructure Capital, is expected to generate $17-20 million in annual revenue and enhance Energy Vault’s position in the U.S. energy storage market, contributing to a total of 340 MW in operation globally and a development pipeline of 3.5 GW.
The most recent analyst rating on (NRGV) stock is a Hold with a $3.50 price target. To see the full list of analyst forecasts on Energy Vault Holdings stock, see the NRGV Stock Forecast page.
On October 9, 2025, Energy Vault Holdings Inc. announced the closing of a $300 million preferred equity investment with Orion Infrastructure Capital (OIC), launching the ‘Asset Vault’ platform. This joint venture aims to develop, build, own, and operate energy storage assets globally, enhancing Energy Vault’s position as an Independent Power Producer. The partnership is expected to accelerate the deployment of over 1.5GW of energy storage projects in high-growth markets, with the platform projected to generate over $100 million in recurring annual EBITDA within the next 3-4 years. This strategic move consolidates Energy Vault’s portfolio of storage projects, leveraging its operational expertise to create a vertically integrated ecosystem that captures value across the energy storage lifecycle.
The most recent analyst rating on (NRGV) stock is a Buy with a $4.00 price target. To see the full list of analyst forecasts on Energy Vault Holdings stock, see the NRGV Stock Forecast page.