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Maker of industrial batteries and chargers for forklifts, telecom backup power and data centers.
Maker of industrial batteries and chargers for forklifts, telecom backup power and data centers.
Sells batteries and chargers, then earns again on replacements and service, because forklift and backup-power batteries wear out and need replacing every few years. Industrial motive power for forklifts and stand-by power for telecom and data centres are the two big lines. Lead is the main raw material, so lead prices move its costs.
Moat: narrow (installed base, distribution, switching costs). Large installed base and service network for mission-critical backup power systems.
Headquarters: Reading, Pennsylvania, US · Founded: 2000 · Employees: 9,682
Size EnerSys (ENS) is a United States Industrials company (Electrical Products) with a market value of $5.30B, the 1146th largest of 3,117 United States companies the cockpit tracks. Shares closed at $147.02 on 6 Nov 2026.
Performance Over six months the shares fell 36.0%, against -31.3% for the median peer and -1.1% for the United States market (cap-weighted) — 8th lowest of 21 in its peer set.
Growth Revenue grew 3.7% over the last twelve months (peer median +10.7%); the operating margin is 14.5% (peer median 10.8%).
Valuation It trades at 11.3× forward earnings against a peer median of 21.2× (2nd cheapest of 21).
Price implies For today's price to make sense, revenue must grow about 0% a year for seven years (Req g). Recent delivered growth is +5%, so the hurdle is -4 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 7.5 points above its cost of capital (10.0% WACC).
Backlog Backlog (remaining performance obligations) was $211M at 5 Jul 2026, up 19% on a year earlier — 0.1 years of trailing revenue. Backlog detail →
Credit EnerSys has 1 bond outstanding ($300M), rated BB+ by the agencies and trading like BB at a weighted spread of 193 bp.
Short interest Short interest is 7.7% of the free float (15 Oct 2026).
Next results Next results expected around 11 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $3.79B | $3.75B | $3.62B | $3.58B | $3.71B |
| Revenue growth | — | +4% | +1% | -3% | — |
| Gross profit | $1.16B | $1.10B | $1.10B | $997M | $842M |
| EBITDA | $669M | $597M | $592M | $499M | $388M |
| Net income | $353M | $294M | $364M | $269M | $176M |
| Free cash flow | $717M | $468M | $139M | $371M | $191M |
| Capital expenditure | $59.5M | $80.1M | $121M | $86.4M | $88.8M |
| Total debt | $1.04B | $1.19B | $1.20B | $914M | $1.16B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| EnerSys ENS | $5.30B | -36% | +4% | 15% | 11.3× | 0.5% |
| Panasonic 6752.T | $44.5B | -6% | +4% | 8% | 13.5× | 9.8% |
| TotalEnergies TTE.PA | $200B | +2% | +11% | 17% | 7.0× | -15.6% |
| GS Yuasa 6674.T | $2.67B | -33% | +6% | 10% | 9.9× | n/a |
| Zhejiang Narada Power Source 300068.SZ | $392M | -67% | -37% | -104% | 4.5× | -7.0% |
| Amara Raja Energy & Mobility ARE&M.NS | $1.41B | -19% | +16% | 6% | 15.5× | n/a |
| Exide Industries EXIDEIND.NS | $3.20B | -2% | +13% | 8% | 21.7× | 27.5% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | ENS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -18.0% | -13.2% | 9th lowest of 21 |
| 6-month return | -36.0% | -31.3% | 8th lowest of 21 |
| Distance from 52-week high | -39.8% | -52.5% | 8th highest of 21 |
| Revenue growth (TTM) | +3.7% | +10.7% | 6th lowest of 21 |
| Operating margin | 14.5% | 10.8% | 6th highest of 21 |
| Forward P/E | 11.3× | 21.2× | 2nd cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | 0.5% | 20.4% | least demanding of 15 |
| Growth delivered (Del g) | +4.7% | +14.6% | 3rd lowest of 15 |
| Hurdle (Req g minus delivered) | -4.3 pp | -1.9 pp | 5th least demanding of 15 |
| ROIC minus cost of capital | +7.5 pp | +0.5 pp | 5th highest of 21 |
| EV / EBITDA | 8.7× | 17.2× | cheapest of 8 |
| Net debt / EBITDA | 0.8× | 0.8× | 4th least indebted of 8 |
| Bond spread | 193 bp | n/a | — |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| EnerSys ENS | United States | $5.30B | -36% | +4% | 15% | 11.3× | 0.5% | +4.7% |
| Sunwoda Electronic 300207.SZ | China | $5.37B | -33% | +36% | -1% | 16.0× | n/a | n/a |
| Wolong Electric 600580.SS | China | $5.39B | -39% | -11% | 4% | 39.6× | 25.2% | +4.2% |
| HANGZHOU FIRST APPLIED MATERIAL 603806.SS | China | $5.14B | -30% | -9% | 9% | 22.0× | 7.5% | +13.1% |
| Hebei Sinopack Electronic Technology 003031.SZ | China | $5.62B | -33% | +43% | 19% | 36.1× | 34.9% | +28.6% |
| Suzlon Energy SUZLON.NS | India | $5.65B | -30% | +34% | 15% | 21.2× | 34.0% | +37.9% |
| Qingdao TGOOD Electric 300001.SZ | China | $4.97B | +6% | +14% | 9% | 21.9× | 12.0% | +16.2% |
| Shandong Sinocera Functional Material 300285.SZ | China | $5.67B | +8% | +23% | 14% | 48.6× | 40.1% | +12.6% |
| Ningbo Orient Wires & Cables 603606.SS | China | $4.96B | -23% | +36% | 12% | 21.1× | 3.6% | +16.5% |
| Yaskawa Electric 6506.T | Japan | $5.71B | -38% | +6% | 8% | 19.7× | 24.8% | +6.8% |
| Powell Industries POWL | United States | $4.85B | -57% | +7% | 20% | 21.2× | 11.2% | +16.3% |
| Fortune Electric 1519.TW | Taiwan | $4.75B | -50% | +5% | 21% | 26.0× | 16.1% | +23.6% |
| Forgent Power Solutions FPS | United States | $5.93B | -52% | +89% | 14% | 14.4× | n/a | n/a |
| Far East Smarter Energy 600869.SS | China | $4.73B | -16% | -1% | 1% | 37.4× | 38.2% | +7.3% |
| CNGR Advanced Material 300919.SZ | China | $4.72B | -48% | +46% | 7% | 12.6× | n/a | n/a |
| Gates Industrial GTES | United States | $6.05B | -8% | +4% | 16% | 12.8× | 9.7% | +4.3% |
| Nexans NEX.PA | France | $6.06B | -26% | -13% | 6% | 17.2× | 5.6% | +5.5% |
| Jiangsu Yoke Technology 002409.SZ | China | $6.12B | +1% | +7% | 15% | 32.1× | 26.4% | +30.6% |
| Henan Pinggao Electric 600312.SS | China | $4.43B | -1% | -6% | 13% | 21.1× | n/a | n/a |
| Gotion High-tech 002074.SZ | China | $6.45B | -32% | +54% | 3% | 25.6× | n/a | n/a |
| Hunan Yuneng New Energy Battery Material 301358.SZ | China | $6.46B | -50% | +130% | 9% | 7.8× | n/a | n/a |
EnerSys has 1 bond outstanding with $300M face value. The agencies rate it BB+; its bonds trade like BB. Weighted yield 6.58%, a spread of 193 bp over government bonds.
EnerSys reported $211M of remaining performance obligations at 5 Jul 2026, up 19% from a year earlier and down 1% from the previous quarter. That is 0.1 years of trailing revenue already under contract. Book-to-bill last quarter: 1.00.