Energy Vault Holdings (NRGV) AI Stock Analysis

• Market Cap: $771.83M
• Dividend Yield: N/A
• Average Volume (3M): 3.74M
• Price to Earnings (P/E): ―
• Beta (1Y): 2.42
• Revenue Growth: -35.99%
• EPS Growth: -46.51%
• Country: US
• Employees: 158
• Sector: Utilities
• Sector Strength: 65
• Industry: Renewable Utilities
• EPS (TTM): -0.10
• Shares Outstanding: 167,790,010
• 10 Day Avg. Volume: 4,437,660
• 30 Day Avg. Volume: 3,742,986
• PEG Ratio: -0.08
• Price to Book (P/B): 2.70
• Price to Sales (P/S): 7.40
• P/FCF Ratio: -2.98
• Enterprise Value/Market Cap: 0.66
• Enterprise Value/Revenue: 6.11
• Enterprise Value/Gross Profit: 26.98
• Enterprise Value/Ebitda: -3.98
• 1Y Price Target: $3.73
• Price Target Upside: -26.57% Downside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 3
• EPS Forecast (FY): -0.34
• Revenue Forecast (FY): $188.66M

• Rating: 67 Neutral
• Price Target: $5.00 ▼(-1.57% Downside)

Energy Vault Holdings scores well due to strong technical indicators and positive earnings call insights, reflecting strategic growth and financial management improvements. However, ongoing profitability and cash flow challenges, along with a negative P/E ratio, moderate the overall score.

Positive Factors

Revenue Growth

A 27x increase in revenue year-over-year indicates strong market demand and successful project execution, supporting long-term growth.

Strategic Partnerships

The partnership enhances Energy Vault's position as an Independent Power Producer, accelerating project deployment and revenue generation.

Gross Margin Improvement

Improved gross margins reflect better cost management and pricing power, enhancing profitability potential over the long term.

Negative Factors

Profitability Challenges

Significant negative margins indicate ongoing operational inefficiencies, which could hinder sustainable profitability and growth.

Cash Flow Constraints

Persistent cash flow deficits limit financial flexibility, potentially impacting the company's ability to invest in growth initiatives.

Rising Debt Levels

Increasing debt levels may strain financial resources and elevate risk, affecting long-term financial health and strategic options.

Energy Vault Holdings Business Overview & Revenue Model

Company Description

Energy 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 Money

Energy Vault generates revenue through various channels, primarily by selling its energy storage systems to utility companies, renewable energy developers, and large-scale energy consumers. The company also earns income from long-term service agreements for maintenance and operation of their systems. Additionally, Energy Vault may benefit from strategic partnerships with energy providers and government contracts aimed at enhancing grid stability. The increasing demand for energy storage solutions, driven by the global transition to renewable energy and the need for reliable energy infrastructure, further supports its revenue model.

Energy Vault Holdings Financial Statement Overview

Summary

Energy Vault Holdings demonstrates strong revenue growth but faces significant profitability and cash flow challenges. The company maintains a stable capital structure with moderate leverage, yet struggles with negative returns on equity and cash flow deficits. Continued focus on improving operational efficiency and cash flow management is crucial for future stability.

Income Statement

Energy Vault Holdings shows a significant revenue growth rate of 62.11% TTM, indicating strong top-line expansion. However, the company struggles with profitability, as evidenced by negative net profit margins of -279.38% and EBIT margins of -269.66% TTM. The gross profit margin has improved to 20.23% TTM, but the overall negative margins highlight ongoing operational challenges.

Balance Sheet

The company's debt-to-equity ratio of 0.39 TTM suggests moderate leverage, which is manageable. However, the return on equity is significantly negative at -113.15% TTM, indicating inefficiencies in generating returns from equity. The equity ratio stands at 28.57% TTM, reflecting a stable capital structure despite profitability issues.

Cash Flow

Energy Vault Holdings faces cash flow challenges, with a negative operating cash flow of -$33.9 million TTM. The free cash flow to net income ratio is positive at 2.69 TTM, indicating some ability to cover net losses with free cash flow. However, the negative free cash flow growth rate of -11.00% TTM and operating cash flow coverage ratio of -0.22 TTM highlight ongoing cash flow constraints.

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

• Technical Analysis Sentiment: Positive
• Last Price: 5.08
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: 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 5.08 is above the 20-day moving average (MA) of 4.34, above the 50-day MA of 3.81, and above the 200-day MA of 1.95, indicating a bullish trend. The MACD of 0.40 indicates Negative momentum. The RSI at 62.38 is Neutral, neither overbought nor oversold. The STOCH value of 43.02 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for NRGV.

Energy Vault Holdings Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
NRGV	67 Neutral	$771.83M	-5.35	-111.44%	―	-35.99%	-46.51%
Sector *	66 Neutral	$17.65B	18.10	5.60%	3.62%	6.62%	11.55%
RNW	61 Neutral	$1.99B	18.96	7.64%	―	42.09%	219.69%
FLNC	55 Neutral	$3.74B	-45.96	-10.72%	―	-16.15%	-324.40%
WAVE	50 Neutral	$35.23M	-9.92	-54.43%	―	-40.99%	-46.52%
NXXT	47 Neutral	$197.58M	-0.67	―	―	146.01%	63.18%
VGAS	37 Underperform	$105.58M	-6.40	-21.33%	―	―	23.66%

Energy Vault Holdings Corporate Events

Energy Vault raises additional $20 million via debentures

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.

Energy Vault Holdings Hosts Analyst and Investor Day

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.

Energy Vault Acquires Texas Battery Storage Project

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.

Energy Vault Secures $300M Investment for ‘Asset Vault’

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.

Energy Vault Holdings Secures $50M for Growth Initiatives

On September 22, 2025, Energy Vault Holdings entered into a Securities Purchase Agreement with YA II PN, Ltd. to issue and sell up to $50 million in senior unsecured convertible debentures. This funding will be used for corporate working capital and to support the development and construction of energy storage projects. The agreement provides financial flexibility for Energy Vault to continue its growth in energy storage project development and execution, complementing a recently announced $300 million preferred equity investment. The company aims to expand its portfolio of energy storage projects, including operational facilities in Texas and California, and a 1 GWh project in Australia. This strategic move supports Energy Vault’s independent power producer strategy, ensuring project monetization and high-margin, contracted cash flows.