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← CockpitCompetitor Analysis › NRGV Energy Vault Holdings, Inc.Open in the cockpit ↗

Energy Vault Holdings, Inc.NRGVCompetitor analysis, valuation and peers

United States · USD·Industrials›Electrical Products
Momentum weak 34
Mkt cap
$589M
US dollars, full cap
Free float
70%
of shares outstanding
$/day
$12.1M
20-day average traded
Fwd P/E
n/m
no positive forecast
ROIC−WACC
-39.7 pp
WACC 9.7%
Hurdle
n/a
no reverse DCF
Next earnings
4 days
10 Nov 2026
Close · USD$3.24
1D+15.7%
1W+4.8%
1M-2.1%
3M-3.0%
6M-28.5%
YTD-29.7%
1Y-3.9%
ATR %9.8%
Beta3.05
52w lowhigh51.2% off high

What Energy Vault does

Employees: 142

Energy Vault at a glance

Size Energy Vault (NRGV) is a United States Industrials company (Electrical Products) with a market value of $589M, the 2589th largest of 3,117 United States companies the cockpit tracks. Shares closed at $3.24 on 6 Nov 2026.

Performance Over six months the shares fell 28.5%, against -31.8% for the median peer and -1.1% for the United States market (cap-weighted) — 9th highest of 21 in its peer set.

Growth Revenue grew 336.8% over the last twelve months (peer median +6.8%); the operating margin is -32.8% (peer median 2.1%).

Valuation It trades at 3.3× enterprise value to sales against a peer median of 2.4× (7th most expensive of 20).

Capital Return on invested capital runs 39.7 points below its cost of capital (9.7% WACC).

Backlog Backlog (remaining performance obligations) was $362M at 30 Jun 2026, up 76% on a year earlier. Backlog detail →

Short interest Short interest is 17.7% of the free float (15 Oct 2026).

Next results Next results expected around 10 Nov 2026 (exchange calendar; dates can move).

Relative performance

507510012511 May 202611 Aug 20266 Nov 2026Peer median 65NRGV 64
Six months, rebased to 100: Energy Vault against the median of its 20 peers (local-currency closes).

Energy Vault financials

Reported figures in USD; fiscal year ends 2025-12-31. TTM = trailing twelve months.
TTMFY2025FY2024FY2023FY2022
Revenue$226M$204M$46.2M$342M$146M
Revenue growth—+341%-86%+134%—
Gross profit$43.9M$44.6M$5.13M$16.6M$50.8M
EBITDA-$62.5M-$67.5M-$127M-$106M-$51.8M
Net income-$113M-$104M-$136M-$98.4M-$78.3M
Free cash flow-$145M-$46.7M-$115M-$123M-$25.7M
Capital expenditure$43.5M$42.5M$58.9M$30.4M$2.32M
Total debt$245M$96.7M$1.36M$1.86M$1.55M

Quarterly statements and history in the cockpit →

Energy Vault competitor charts

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.

Performance: 6-month against 1-month return

-60%-40%-20%0%-20%0%XPP301202603988603191301012NNE688448300447600379301387ENVX002560CNTL3617300491603016LGBBROSLTD301439603344NRGV6-month return →1-month return →
Up and to the right = strong over both horizons. Energy Vault is the large dot.

Fundamentals: revenue growth against valuation

0%+100%+200%+300%0×10×20×XPP301202603988603191301012688448300447ENVX002560NRGVRevenue growth (TTM) →EV / Sales →
Further right = faster growth; higher = more expensive. The dashed lines are the peer medians. Energy Vault is the large dot.

Energy Vault competitors and peer comparison

How Energy Vault compares with its peers

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.

Energy Vault against its 20 peers (data as of 6 Nov 2026)
MeasureNRGVPeer medianRank in peer set
1-month return-2.1%-12.3%3rd highest of 21
6-month return-28.5%-31.8%9th highest of 21
Distance from 52-week high-51.2%-50.6%10th lowest of 21
Revenue growth (TTM)+336.8%+6.8%highest of 20
Operating margin-32.8%2.1%3rd lowest of 20
EV / Sales3.3×2.4×7th most expensive of 20
ROIC minus cost of capital-39.7 pp-6.0 pp3rd lowest of 20

Peer table

Peer set: Industry: the same industry and sector in any market, nearest in size
CompanyMarketMarket cap6M returnRevenue growthOp. marginEV / SalesReq gDelivered g
Energy Vault NRGVUnited States$589M-28%+337%-33%3.3×n/an/a
XP Power XPP.LUnited Kingdom$589M-17%-1%2%2.4×50.9%-0.3%
Suzhou Longway Electronic Machinery 301202.SZChina$589M-25%+27%6%2.6×n/an/a
SEC Electric Machinery 603988.SSChina$585M-33%-15%0%6.1×n/an/a
Chongqing Wangbian Electric (Group) 603191.SSChina$594M-42%+5%-1%1.6×n/an/a
Jiangsu Yangdian Science & Technology 301012.SZChina$596M-43%0%5%3.3×14.5%+23.9%
Nano Nuclear Energy NNEUnited States$597M-60%n/a-24,545%88.0×n/an/a
Nanjing CIGU Technology 688448.SSChina$581M-15%-18%-7%9.2×n/an/a
Nanjing Quanxin Cable Technology 300447.SZChina$581M-35%+8%4%4.4×29.2%+3.3%
Shaanxi Baoguang Vacuum Electronic Apparatus 600379.SSChina$580M-30%+7%5%3.1×37.9%+7.0%
Shenzhen Bromake New Material 301387.SZChina$602M-45%+25%-1%2.1×n/an/a
Enovix ENVXUnited States$606M-58%+35%-497%18.7×n/an/a
Henan Tong-Da Cable 002560.SZChina$607M-47%+16%2%0.6×16.2%+32.9%
Centiel CNTL.SWSwitzerland$570M+45%-100%n/an/an/an/a
CyberPower Systems 3617.TWTaiwan$610M+11%0%19%1.4×-10.8%+5.4%
Shijiazhuang Tonhe Electronics Technologies 300491.SZChina$566M-18%+33%1%2.1×n/an/a
Wuxi New Hongtai Electrical Technology 603016.SSChina$614M-50%-4%10%6.0×36.8%+6.7%
Sanbian Sci-Tech 002112.SZChina$617M-37%+7%1%2.1×59.0%+13.2%
L.G. Balakrishnan & Bros LGBBROSLTD.NSIndia$562M-4%+21%11%1.6×n/an/a
Weihai Honglin Electronic 301439.SZChina$559M-24%+18%5%1.1×n/an/a
Cinderson Tech (Suzhou) 603344.SSChina$555M-30%+7%6%1.0×7.0%+9.3%

Energy Vault backlog

Energy Vault reported $362M of remaining performance obligations at 30 Jun 2026, up 76% from a year earlier and up 154% from the previous quarter. Book-to-bill last quarter: 13.62.

Questions

Which companies are Energy Vault's closest peers?
The cockpit's peer set: XP Power (XPP.L), Suzhou Longway Electronic Machinery (301202.SZ), SEC Electric Machinery (603988.SS), Chongqing Wangbian Electric (Group) (603191.SS), Jiangsu Yangdian Science & Technology (301012.SZ), Nano Nuclear Energy (NNE), Nanjing CIGU Technology (688448.SS), Nanjing Quanxin Cable Technology (300447.SZ).
Is Energy Vault expensive compared with its peers?
On ev / sales it trades at 3.3× against a peer median of 2.4×, 7th most expensive of 20 in its peer set.
How has Energy Vault stock performed?
Over six months to 6 Nov 2026 the shares returned -28.5% against -31.8% for the median peer; over one year -3.9%.
What is Energy Vault's backlog?
Energy Vault's remaining performance obligations (contracted revenue not yet recognised) were $362M at 30 Jun 2026, +76% on a year earlier.

How these numbers are made. Returns are close-to-close in local currency. Revenue growth and margins are trailing twelve months. Req g is the revenue growth that today's enterprise value requires for seven years at the company's own cost of capital; Delivered g is what it actually grew; the gap is the hurdle (honest precision about ±8 points, so read the ranking more than the decimal). No fair values, price targets or analyst ratings are shown, by design. Method and validation.