Education
About Us
Working with TipRanks
Follow Us
Energy Vault Holdings (NRGV)
NYSE:NRGV
Top Page
Energy Vault Holdings
(NYSE:NRGV)
Rating:52Neutral
Price Target:
$1.00
▲( 7.53% Upside)
Positive Factors
Financial Strength
Secured $28mn in project financing for Calistoga, returning cash to the balance sheet.
Strategic Progress
Energy Vault continued to make progress with its 'Own & Operate' strategy, with 2 projects nearing commercial operation and Stoney Creek advancing towards construction.
Negative Factors
Financial Guidance
FY25 guidance was below expectations as management leans further into 'own and operate' model and the company continues to be impacted by lower battery prices.
Revenue Performance
Lower than expected revenue in 1Q25.
Energy Vault Holdings (NRGV) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$147.45M
Dividend YieldN/A
Average Volume (3M)1.42M
Price to Earnings (P/E)―
Beta (1Y)2.35
Revenue Growth-86.10%
EPS Growth-49.68%
CountryUS
Employees158
SectorUtilities
Sector Strength83
IndustryRenewable Utilities
Share Statistics
EPS (TTM)-0.08
Shares Outstanding156,044,300
10 Day Avg. Volume1,631,879
30 Day Avg. Volume1,422,260
Financial Highlights & Ratios
PEG Ratio0.02
Price to Book (P/B)0.88
Price to Sales (P/S)0.00
P/FCF Ratio-1.03
Enterprise Value/Market Cap0.63
Enterprise Value/Revenue0.11
Enterprise Value/Gross Profit15.65
Enterprise Value/Ebitda-0.23
Forecast
1Y Price Target
$2.00Price Target Upside115.05% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
Energy Vault Holdings Business Overview & Revenue Model
Company DescriptionEnergy Vault Holdings, Inc. develops and sells energy storage solutions. The company offers gravity-based storage systems, including EVx Platform, a scalable, modular product line starting from 40-megawatt hour to multi-gigawatt hours to address grid resiliency needs in shorter durations; Energy Vault Resiliency Center, a scalable, gigawatt hour scale product line designed to address grid resiliency needs to manage energy disruptive climate events; and Energy Vault solutions. Its solutions allow utilities, independent power producers, and large energy users to manage their power portfolios and efficiently dispatch power. Energy Vault Holdings, Inc. is based in Westlake Village, California.
How the Company Makes MoneyEnergy Vault Holdings generates revenue primarily through the sale and deployment of its proprietary energy storage systems, including the Energy Vault Resiliency Center. The company enters into contracts with utility companies, renewable energy providers, and industrial clients who require efficient and scalable energy storage solutions. Revenue is also derived from service agreements for maintenance and operational support of deployed systems. Significant partnerships with energy infrastructure companies and governmental entities also contribute to its earnings by expanding market reach and facilitating large-scale projects.
Energy Vault Holdings Financial Statement Overview
Summary
Energy Vault Holdings faces financial challenges, marked by declining revenues and profitability, growing liabilities, and deteriorating cash flow. Despite low leverage, the company struggles with negative equity returns and cash flow inefficiencies, presenting significant risks that need addressing for a sustainable financial future.Income Statement
Energy Vault Holdings has shown inconsistent revenue growth, with a significant drop in revenue from 2023 to 2024. The gross profit margin improved slightly in 2024 but remains low. Net profit margin is negative, reflecting ongoing losses. EBIT and EBITDA margins are also negative, highlighting operational inefficiencies.45
Neutral
Balance Sheet
The balance sheet exhibits a relatively low debt-to-equity ratio, suggesting manageable leverage. However, the return on equity is negative due to persistent losses. The equity ratio has decreased, indicating a weaker financial position as liabilities have grown relative to assets.50
Neutral
Cash Flow
The company is experiencing negative free cash flow, with a worsening trend over the years. The operating cash flow to net income ratio is negative, indicating cash outflows from operations. Free cash flow to net income ratio also reflects poor cash conversion from earnings.40
Negative
| Breakdown | ||||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 46.20M | 341.54M | 145.88M | 0.00 | 0.00 | Gross Profit |
| 6.19M | 17.53M | 59.30M | -1.25M | 0.00 | EBIT |
| -130.00M | -106.74M | -60.26M | -29.54M | 14.51M | EBITDA |
| -134.56M | -97.86M | -69.38M | -28.89M | -1.10K | Net Income Common Stockholders |
| -135.75M | -98.44M | -78.30M | -31.34M | -24.17M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 27.09M | 109.92M | 203.04M | 105.13M | 10.05M | Total Assets |
| 183.89M | 340.75M | 416.71M | 125.29M | 30.38M | Total Debt |
| 1.36M | 1.86M | 1.55M | 1.36M | 2.16M | Net Debt |
| -25.73M | -108.06M | -201.49M | -103.77M | -7.89M | Total Liabilities |
| 57.63M | 116.96M | 129.00M | 193.96M | 70.01M | Stockholders Equity |
| 126.32M | 223.79M | 287.71M | -68.67M | -39.63M |
| Cash Flow | Free Cash Flow | |||
| -114.71M | -123.09M | -25.66M | -22.24M | -18.45M | Operating Cash Flow |
| -55.86M | -92.66M | -23.35M | -22.07M | -16.70M | Investing Cash Flow |
| -58.74M | -42.54M | -13.32M | -1.17M | -1.75M | Financing Cash Flow |
| -252.00K | -5.48M | 217.77M | 116.38M | 15.64M |
Energy Vault Holdings Technical Analysis
Positive
0.93
Price Trends
0.82
Positive
1.29
Negative
1.32
Negative
Market Momentum
0.04
Negative
55.87
Neutral
45.06
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NRGV, the sentiment is Positive. The current price of 0.93 is above the 20-day moving average (MA) of 0.82, above the 50-day MA of 0.82, and below the 200-day MA of 1.32, indicating a neutral trend. The MACD of 0.04 indicates Negative momentum. The RSI at 55.87 is Neutral, neither overbought nor oversold. The STOCH value of 45.06 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for NRGV.
Energy Vault Holdings Risk Analysis
Energy Vault Holdings disclosed 74 risk factors in its most recent earnings report. Energy Vault Holdings reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 1 New Risks
1.
Government control of currency conversion and expatriation of funds may affect our liquidity. Q3, 2024
Energy Vault Holdings Peers Comparison
Overall Rating
UnderperformOutperform
Sector (63)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | $800.50M | 23.35 | 0.29% | ― | 26.49% | ― | |
65 Neutral | $2.49B | 99.28 | 2.00% | ― | -1.77% | -41.65% | |
63 Neutral | $8.63B | 10.24 | 4.67% | 4.35% | 3.78% | -12.74% | |
56 Neutral | $976.69M | 236.42 | -5.96% | ― | 6.08% | 52.48% | |
53 Neutral | $351.68M | ― | -9999.00% | ― | 52.34% | 10.37% | |
52 Neutral | $147.45M | ― | -82.96% | ― | -86.10% | -49.68% | |
47 Neutral | $37.04M | ― | -27.32% | ― | -46.17% | -18.67% |
* Utilities Sector Average
Performance Comparison
NRGV
Energy Vault Holdings
0.93
-0.24
-20.51%
AMPS
Altus Power
4.99
1.21
32.01%
RNW
ReNew Energy Global
6.87
0.98
16.64%
WAVE
Eco Wave Power Global
6.00
2.60
76.47%
NXXT
NextNRG
3.31
-2.97
-47.29%
FLNC
Fluence Energy
5.01
-15.20
-75.21%
Energy Vault Holdings Earnings Call Summary
Earnings Call Date:May 12, 2025
(Q1-2025)
| % Change Since: -13.08%|
Next Earnings Date:Aug 12, 2025
Earnings Call Sentiment Positive
Energy Vault's earnings call highlighted several positive developments, including revenue growth, an increased backlog, and successful project execution with new international agreements. However, challenges in the U.S. market due to tariff uncertainties and an adjusted EBITDA loss were noted, but they were counterbalanced by strong performance metrics and strategic progress.Q1-2025 Updates
Positive Updates
Revenue Growth and Backlog Increase
Energy Vault reported a 10% year-over-year increase in revenue for Q1 2025, driven by projects in Australia. The revenue backlog increased by 49% year-to-date, amounting to $648 million.
Strong Gross Margin
The company reported a gross margin of 57.1% for the first quarter, nearly double the 26% margin from the previous year, attributed to favorable revenue mix from the India license agreement.
Cash Position and Project Financing
Energy Vault's cash position increased from $30 million at the end of 2024 to $47 million at the end of Q1 2025. The company completed its first project financing for the Calistoga Resiliency Center, contributing to this increase.
Notable International Agreements
The company signed a 10-year license agreement with SPML Infra in India for its battery storage technology, reflecting growth in the battery storage sector in India.
Successful Project Execution
Energy Vault's first owned and operated asset, Cross Trails in Texas, began operations ahead of schedule. The company expects these projects to contribute approximately $30 million in annual recurring project EBITDA over the next 15 years.
Negative Updates
U.S. Market Challenges
Energy Vault faced challenges in the U.S. market due to tariff-related uncertainties, which caused delays in securing new bookings and impacted customer confidence.
Adjusted EBITDA Loss
The company reported an adjusted EBITDA loss of $11.3 million in Q1 2025, although this was an improvement from the $14.5 million loss in the previous year.
Company Guidance
In the first quarter of 2025 earnings call, Energy Vault provided guidance highlighting several key financial metrics and strategic developments. The company reported a backlog increase of 49% year-to-date, reaching $648 million, with substantial growth driven by projects in Australia and the U.S. Revenue for the quarter rose by 10% year-over-year, primarily due to new projects in Australia and a licensing agreement in India. Notably, gross margin almost doubled to 57% from 26% the previous year, reflecting favorable regional and contract mixes. From a cash perspective, Energy Vault had $47 million at the end of Q1, up from $30 million in Q4 2024, with expectations to grow to $75 million as project financings and investment tax credits are realized. The company also reported an adjusted EBITDA loss improvement of 22% year-over-year, narrowing the loss to $11.3 million, driven by improved gross margins and reduced operating costs. Additionally, Energy Vault emphasized their strategy of building, owning, and operating assets, projecting approximately $100 million in recurring operating EBITDA from seven projects over the next 15 years. Despite the recent U.S.-China tariff pause, the company maintained its current revenue guidance, citing a diverse project portfolio with 90% of its backlog unaffected by the tariffs.Energy Vault Holdings Corporate Events
Private Placements and FinancingFinancial Disclosures
Energy Vault Holdings Projects Significant Cash Inflows
Positive
Mar 21, 2025
On March 20, 2025, Energy Vault Holdings’ management discussed expected cash inflows from project financings and investment tax credits, totaling $70-80 million, during investor calls following their earnings call on March 18, 2025. The company anticipates these financings to close within Q2 and Q3 2025, with Calistoga Resiliency Center starting in April 2025, and expects to achieve positive Adjusted EBITDA by Q4 2025.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
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.