Comprehensive Stock Comparison
Compare Energy Vault Holdings, Inc. (NRGV) vs Fluence Energy, Inc. (FLNC) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | FLNC | -16.1% revenue growth vs NRGV's -86.5% |
| Quality / Margins | FLNC | -2.0% net margin vs NRGV's -172.6% |
| Stability / Safety | NRGV | Beta 2.17 vs FLNC's 2.25, lower leverage |
| Dividends | Tie | Neither pays a meaningful dividend |
| Momentum (1Y) | FLNC | +171.7% vs NRGV's +120.6% |
| Efficiency (ROA) | FLNC | -2.3% ROA vs NRGV's -51.3%, ROIC -12.0% vs -90.2% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Defensive / Recession hedge
Business Model
What each company does and how it makes money
Energy Vault develops gravity-based energy storage systems that use custom bricks and cranes to store and release electricity. The company makes money primarily through selling its EVx gravity storage platforms and related software solutions to utilities and large energy users. Its key advantage is proprietary gravity storage technology that offers longer duration storage—up to 24 hours—compared to lithium-ion batteries, using low-cost materials like soil and waste materials.
Fluence Energy is a global provider of energy storage systems and AI-powered digital applications for renewable energy integration. It generates revenue primarily through selling battery storage hardware (Gridstack, Sunstack, Edgestack) and providing related services like engineering, maintenance, and energy storage-as-a-service contracts. The company benefits from its joint venture ownership by Siemens and AES Corporation — which provides deep industry expertise, global scale, and established customer relationships in the utility sector.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
FLNC leads in 3 of 6 categories (Valuation Metrics, Profitability & Efficiency). NRGV leads in 1 (Risk & Volatility). 1 tied.
Financial Metrics (TTM)
FLNC is the larger business by revenue, generating $2.6B annually — 30.4x NRGV's $84M. FLNC is the more profitable business, keeping -2.0% of every revenue dollar as net income compared to NRGV's -172.6%. On growth, NRGV holds the edge at +26.8% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | NRGVEnergy Vault Hold… | FLNCFluence Energy, I… |
|---|---|---|
| RevenueTrailing 12 months | $84M | $2.6B |
| EBITDAEarnings before interest/tax | -$115M | -$12M |
| Net IncomeAfter-tax profit | -$145M | -$52M |
| Free Cash FlowCash after capex | -$75M | -$195M |
| Gross MarginGross profit ÷ Revenue | +22.7% | +11.7% |
| Operating MarginEBIT ÷ Revenue | -139.6% | -1.6% |
| Net MarginNet income ÷ Revenue | -172.6% | -2.0% |
| FCF MarginFCF ÷ Revenue | -89.6% | -7.6% |
| Rev. Growth (YoY)Latest quarter vs prior year | +26.8% | +154.4% |
| EPS Growth (YoY)Latest quarter vs prior year | +11.1% | -6.3% |
Valuation Metrics
| Metric | NRGVEnergy Vault Hold… | FLNCFluence Energy, I… |
|---|---|---|
| Market CapShares × price | $460M | $800M |
| Enterprise ValueMkt cap + debt − cash | $434M | $500M |
| Trailing P/EPrice ÷ TTM EPS | -3.30x | -42.00x |
| Forward P/EPrice ÷ next-FY EPS est. | — | — |
| PEG RatioP/E ÷ EPS growth rate | — | — |
| EV / EBITDAEnterprise value multiple | — | — |
| Price / SalesMarket cap ÷ Revenue | 9.95x | 0.35x |
| Price / BookPrice ÷ Book value/share | 3.56x | 3.69x |
| Price / FCFMarket cap ÷ FCF | — | — |
Profitability & Efficiency
FLNC delivers a -10.6% return on equity — every $100 of shareholder capital generates $-11 in annual profit, vs $-180 for NRGV. NRGV carries lower financial leverage with a 0.01x debt-to-equity ratio, signaling a more conservative balance sheet compared to FLNC's 0.71x. On the Piotroski fundamental quality scale (0–9), FLNC scores 3/9 vs NRGV's 2/9, reflecting mixed financial health.
| Metric | NRGVEnergy Vault Hold… | FLNCFluence Energy, I… |
|---|---|---|
| ROE (TTM)Return on equity | -179.7% | -10.6% |
| ROA (TTM)Return on assets | -51.3% | -2.3% |
| ROICReturn on invested capital | -90.2% | -12.0% |
| ROCEReturn on capital employed | -72.6% | -4.3% |
| Piotroski ScoreFundamental quality 0–9 | 2 | 3 |
| Debt / EquityFinancial leverage | 0.01x | 0.71x |
| Net DebtTotal debt minus cash | -$26M | -$300M |
| Cash & Equiv.Liquid assets | $27M | $691M |
| Total DebtShort + long-term debt | $1M | $391M |
| Interest CoverageEBIT ÷ Interest expense | -1056.88x | -8.49x |
Total Returns (with DRIP)
A $10,000 investment in FLNC five years ago would be worth $4,440 today (with dividends reinvested), compared to $3,109 for NRGV. Over the past 12 months, FLNC leads with a +171.7% total return vs NRGV's +120.6%. The 3-year compound annual growth rate (CAGR) favors NRGV at -3.5% vs FLNC's -5.9% — a key indicator of consistent wealth creation.
| Metric | NRGVEnergy Vault Hold… | FLNCFluence Energy, I… |
|---|---|---|
| YTD ReturnYear-to-date | -38.7% | -32.5% |
| 1-Year ReturnPast 12 months | +120.6% | +171.7% |
| 3-Year ReturnCumulative with dividends | -10.2% | -16.8% |
| 5-Year ReturnCumulative with dividends | -68.9% | -55.6% |
| 10-Year ReturnCumulative with dividends | -68.9% | -55.6% |
| CAGR (3Y)Annualised 3-year return | -3.5% | -5.9% |
Risk & Volatility
NRGV is the less volatile stock with a 2.17 beta — it tends to amplify market swings less than FLNC's 2.25 beta. A beta below 1.0 means the stock typically moves less than the S&P 500.
| Metric | NRGVEnergy Vault Hold… | FLNCFluence Energy, I… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 2.17x | 2.25x |
| 52-Week HighHighest price in past year | $6.35 | $33.51 |
| 52-Week LowLowest price in past year | $0.60 | $3.46 |
| % of 52W HighCurrent price vs 52-week peak | +47.2% | +46.4% |
| RSI (14)Momentum oscillator 0–100 | 39.4 | 32.9 |
| Avg Volume (50D)Average daily shares traded | 3.0M | 4.9M |
Analyst Outlook
Wall Street rates NRGV as "Buy" and FLNC as "Hold". Consensus price targets imply 35.6% upside for FLNC (target: $21) vs -8.3% for NRGV (target: $3).
| Metric | NRGVEnergy Vault Hold… | FLNCFluence Energy, I… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Hold |
| Price TargetConsensus 12-month target | $2.75 | $21.08 |
| # AnalystsCovering analysts | 7 | 27 |
| Dividend YieldAnnual dividend ÷ price | — | — |
| Dividend StreakConsecutive years of raises | — | — |
| Dividend / ShareAnnual DPS | — | — |
| Buyback YieldShare repurchases ÷ mkt cap | +0.1% | 0.0% |
Historical Charts
Charts are rendered on first load. Hover for details.
Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Nov 21 | Feb 26 | Change |
|---|---|---|---|
| Energy Vault Holdin… (NRGV) | 100 | 46.05 | -54.0% |
| Fluence Energy, Inc. (FLNC) | 105.57 | 88.26 | -16.4% |
Fluence Energy, Inc. (FLNC) returned -56% over 5 years vs Energy Vault Holdin… (NRGV)'s -69%.
Chart 2Revenue Growth — 10 Years
| Stock | 2019 | 2025 | Change |
|---|---|---|---|
| Energy Vault Holdin… (NRGV) | $0.00 | $46M | — |
| Fluence Energy, Inc. (FLNC) | $92M | $2.3B | +2355.6% |
Fluence Energy, Inc.'s revenue grew from $92M (2019) to $2.3B (2025) — a 70.5% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2019 | 2025 | Change |
|---|---|---|---|
| Energy Vault Holdin… (NRGV) | -53.7% | -2.9% | +94.5% |
| Fluence Energy, Inc. (FLNC) | -51.0% | -2.1% | +95.8% |
Fluence Energy, Inc.'s net margin went from -51% (2019) to -2% (2025).
Chart 4EPS Growth — 10 Years
| Stock | 2019 | 2025 | Change |
|---|---|---|---|
| Energy Vault Holdin… (NRGV) | -8.23 | -0.91 | +88.9% |
| Fluence Energy, Inc. (FLNC) | -0.95 | -0.37 | +61.1% |
Fluence Energy, Inc.'s EPS grew from $-0.95 (2019) to $-0.37 (2025).
Chart 5Free Cash Flow — 5 Years
Energy Vault Holdings, Inc. generated $-115M FCF in 2024 (-394% vs 2021). Fluence Energy, Inc. generated $-175M FCF in 2025 (+39% vs 2021).
NRGV vs FLNC: Frequently Asked Questions
7 questions · data-driven answers · updated daily
01Is NRGV or FLNC a better buy right now?
Analysts rate Energy Vault Holdings, Inc. (NRGV) a "Buy" — based on 7 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which is the better long-term investment — NRGV or FLNC?
Over the past 5 years, Fluence Energy, Inc. (FLNC) delivered a total return of -55.6%, compared to -68.9% for Energy Vault Holdings, Inc. (NRGV). A $10,000 investment in FLNC five years ago would be worth approximately $4K today (assuming dividends reinvested). Over 10 years, the gap is even starker: FLNC returned -55.6% versus NRGV's -68.9%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
03Which is safer — NRGV or FLNC?
By beta (market sensitivity over 5 years), Energy Vault Holdings, Inc. (NRGV) is the lower-risk stock at 2.17β versus Fluence Energy, Inc.'s 2.25β — meaning FLNC is approximately 4% more volatile than NRGV relative to the S&P 500. On balance sheet safety, Energy Vault Holdings, Inc. (NRGV) carries a lower debt/equity ratio of 1% versus 71% for Fluence Energy, Inc. — giving it more financial flexibility in a downturn.
04Which has better profit margins — NRGV or FLNC?
Fluence Energy, Inc. (FLNC) is the more profitable company, earning -2.1% net margin versus -293.8% for Energy Vault Holdings, Inc. — meaning it keeps -2.1% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: FLNC leads at -1.5% versus -281.4% for NRGV. At the gross margin level — before operating expenses — NRGV leads at 13.4%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
05Which pays a better dividend — NRGV or FLNC?
None of the stocks in this comparison currently pay a material dividend. All are effectively zero-yield and should be held for capital appreciation rather than income.
06Is NRGV or FLNC better for a retirement portfolio?
For long-horizon retirement investors, Fluence Energy, Inc. (FLNC) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding. Energy Vault Holdings, Inc. (NRGV) carries a higher beta of 2.17 — meaning larger drawdowns in market downturns, which matters significantly when you cannot wait years for a recovery. Both have compounded well over 10 years (FLNC: -55.6%, NRGV: -68.9%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
07What are the main differences between NRGV and FLNC?
Both stocks operate in the Utilities sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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