NRGV
Energy Vault Holdings, Inc.

Energy Vault Holdings, Inc.NRGV

Utilities · Utilities - Renewable
3.24USD
+15.71%
Nov 08, 2026
NRGV overview ready
Integrated grid-scale energy storage systems for utilities and renewables
Energy Vault is a storage-system integrator, project developer and emerging asset owner/operator.
Theme not measured
Energy Storage has no leadership state this session.
Price trend is broken
Longer-term context reads trend under pressure, with a near-term setup of base repair.
The tactical setup reads base repair, but the weekly structure is broken.
Fair valuation
The price broadly reflects how much growth and cash flow it delivers per turn of revenue multiple, with upside and risk reasonably….
Solid fundamentals
Ev / sales is strong.
Primary risk
Technology adoption and scalability challenges.
Market Nov 6Price action Nov 7Research Oct 3

Conviction Level

Theme Momentum has no canonical measurement for this company — a research-profile dimension, not an input to this score.

PriceAction5.4BusinessPerformance4.0BusinessQuality1.2Valuation3.5ThemeMomentum—Decelerating — Revenue is still growing (+104% YoY), but growth has slowed, down from +2679%. One recent quarter could not be confirmed and is not part of this read. The company is still loss-making: the diluted loss per share narrowed to -$0.18 from -$0.22 a year earlier. — From filed financial statements. Describes the recent trajectory of the business, not the stock. 20 of the 100 Conviction points.

Conviction uses Price Action, Business Performance, Business Quality, Valuation. Theme Momentum is research context, not an input.

Theme momentumPrimary theme · group context, not entry timing
Energy Storage — Energy Storage has no leadership state this session
Its economic family, Power Infrastructure, reads Lagging (−12.0pp vs SPY) — the family’s reading, not this theme’s.
Price
Loading price history…

Price Action

Price trend is broken
Longer-term context reads trend under pressure, with a near-term setup of base repair.
The tactical setup reads base repair, but the weekly structure is broken.
EntryConstructive

Structure is constructive on both timeframes without excessive extension — a reasonable entry location.

Key Financials

Market Cap
$589.2M
Avg Volume (60D)
4.1M
60 sessions
Revenue Growth YoY
+336.8%
Trailing twelve months
Gross Margin
+22.5%
Operating Margin
-32.8%
Trailing twelve months
Free Cash Flow Yield
-19.6%
Distance from 200DMA
-16.0%
Next Earnings
2026-11-10
P/E
N/M
EV / Sales
3.3x
Market metrics as of Nov 7, 2026

Business Performance

Decelerating

Revenue is still growing (+104% YoY), but growth has slowed, down from +2679%. One recent quarter could not be confirmed and is not part of this read. The company is still loss-making: the diluted loss per share narrowed to -$0.18 from -$0.22 a year earlier.

Latest reported: Q2 FY2026, ended Jun 30
Revenue growthSlowing
+104%
$17.4M in Q2 FY2026 · YoY
YoY growth, last 4 quarters
  1. +2679%
  2. n/a
  3. +156%
  4. +104%
Earnings growthLoss narrowing
-$0.18
Diluted EPS -$0.18 vs -$0.22 a year earlier · GAAP
Too few comparable EPS quarters: a loss or a turn to profit has no meaningful percentage.
Operating marginExpanding
-142.0%
+188.7 pp YoY · gross margin 30.9% (+1.4 pp)
The share count is rising

Business Quality

1.2 / 10

How well the business earns on its assets, converts earnings to cash and funds itself — read from its SEC filings.

Fundamentals & Valuation

Two of the three valuation perspectives say cheap; own history is the dissenting view. The published stance is held at fair because no positive free cash flow behind the low multiple.
Energy Vault Holdings, Inc. has a Fair valuation stance because the price broadly reflects how much growth and cash flow it delivers per turn of revenue multiple, with upside and risk reasonably balanced.

What changed

Company Research

Thesis
Energy Vault is a storage-system integrator, project developer and emerging asset owner/operator.
Opportunity
High opportunity
Utility, renewable-project and large-load investment in battery and other storage systems that provide capacity, balancing, resilience, interconnection support and time-shifting as power systems add variable generation and demand.
Key risk
Technology adoption and scalability challenges.

Economic classification

Loading the economic classification…

Business & Markets

Utilities · Utilities - Renewable
What they do

Energy Vault Holdings, Inc. develops and deploys utility-scale energy storage solutions using electrochemical batteries, gravity-based systems, and hydrogen or hybrid technologies, supported by proprietary software for energy management and operational control.

How it earns

The company generates revenue primarily through project-based sales of energy storage systems and related software solutions, as well as operations and asset ownership.

Products & services
B-Vault electrochemical battery energy storage
G-Vault gravity energy storage
H-Vault hydrogen/hybrid energy storage
Vault-OS Energy Management System software
Customers & end markets
Utilities
Renewable energy project developers
Large energy consumers including AI data centers
Market position

Emerging challenger focused on integrated storage system development and operations with a diversified technology portfolio.

Demand drivers
Medium cyclicality

Demand depends on utility and renewable project investment cycles and regulatory support for grid modernization.

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