Dragonfly Energy Holdings Corp. (DFLI) 10-Year Financial Performance & Capital Metrics

DFLI • • Industrial / General

IndustrialsElectrical EquipmentBattery Materials & ComponentsLithium-ion Battery Manufacturing

AboutDragonfly Energy Holdings Corp. manufactures and supplies deep cycle lithium-ion batteries for RVs, marine vessels, off-grid installations, and other storage applications. It also focuses on delivering an energy storage solution to enable a sustainable and reliable smart grid through the deployment of its solid-state cell technology. The company is headquartered in Reno, Nevada.Show more

Revenue $51M -21.3%
EBITDA -$22M +15.4%
Net Income -$41M -193.9%
EPS (Diluted) -5.91 -152.6%
Gross Margin 22.96% -4.3%
EBITDA Margin -43.75% -7.6%
Operating Margin -50.86% -19.4%
Net Margin -80.2% -273.7%
ROE -438.89% -513.9%
ROIC -48.59% +34.5%
Debt/Equity -
Interest Coverage -1.20 +30.1%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Momentum leader: RS Rating 99 (top 1%)

✗Weaknesses

✗Weak Piotroski F-Score: 2/9
✗Negative free cash flow
✗Low quality earnings: Net income not backed by cash flow
✗Shares diluted 17.1% in last year

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y-

3Y-13.41%

TTM18.24%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-25.16%

EPS CAGR

10Y-

5Y-

3Y-

TTM-15.67%

ROCE

10Y Avg-19.25%

5Y Avg-19.25%

3Y Avg-63.29%

Latest-58.42%

Peer Comparison

Lithium-ion Battery Manufacturing

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
ULBIUltralife Corporation	117.21M	7.04	18.53	3.66%	0.92%	1.25%	12.55%	0.44
CBATCBAK Energy Technology, Inc.	77.12M	0.87	6.69	-13.61%	-4.03%	-5.5%	29.2%	0.25
ENREnergizer Holdings, Inc.	1.46B	21.24	6.40	2.28%	8.09%	140.67%	4.34%	20.79
XPONExpion360 Inc.	8.88M	0.92	-0.04	-5.96%	-21.76%	-22.74%		0.41
DFLIDragonfly Energy Holdings Corp.	46.38M	3.84	-0.65	-21.35%	-60.13%	-438.89%
TET1 Energy Inc	1.57B	7.41	-2.32		-243.61%	-351.25%		3.01
FLUXFlux Power Holdings, Inc.	32.44M	1.52	-3.80	9.22%	-10.05%
MVSTMicrovast Holdings, Inc.	974.7M	2.97	-4.87	23.87%	-34.01%	-42.22%		0.85

Profit & Loss

	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	47.19M	78M	86.25M	64.39M	50.65M
Revenue Growth %	-	0.65%	0.11%	-0.25%	-0.21%
Cost of Goods Sold+	26.58M	48.38M	62.63M	48.95M	39.02M
COGS % of Revenue	0.56%	0.62%	0.73%	0.76%	0.77%
Gross Profit+	20.61M	29.63M	23.62M	15.45M	11.63M
Gross Margin %	0.44%	0.38%	0.27%	0.24%	0.23%
Gross Profit Growth %	-	0.44%	-0.2%	-0.35%	-0.25%
Operating Expenses+	11.86M	23.16M	58M	42.88M	37.38M
OpEx % of Revenue	0.25%	0.3%	0.67%	0.67%	0.74%
Selling, General & Admin	10.62M	20.47M	55.24M	39.01M	31.93M
SG&A % of Revenue	0.23%	0.26%	0.64%	0.61%	0.63%
Research & Development	1.24M	2.69M	2.76M	3.86M	5.45M
R&D % of Revenue	0.03%	0.03%	0.03%	0.06%	0.11%
Other Operating Expenses	15K	1K	0	0	0
Operating Income+	8.75M	6.47M	-34.38M	-27.43M	-25.76M
Operating Margin %	0.19%	0.08%	-0.4%	-0.43%	-0.51%
Operating Income Growth %	-	-0.26%	-6.32%	0.2%	0.06%
EBITDA+	8.94M	7.08M	-33.49M	-26.19M	-22.16M
EBITDA Margin %	0.19%	0.09%	-0.39%	-0.41%	-0.44%
EBITDA Growth %	-	-0.21%	-5.73%	0.22%	0.15%
D&A (Non-Cash Add-back)	198K	617K	891K	1.24M	3.6M
EBIT	8.76M	6.47M	-33.72M	2.17M	-19.11M
Net Interest Income+	3K	-519K	-6.98M	-16.02M	-21.5M
Interest Income	3K	0	0	0	0
Interest Expense	0	519K	6.95M	16.02M	21.5M
Other Income/Expense	18K	-518K	-6.32M	13.59M	-14.86M
Pretax Income+	8.76M	5.95M	-40.7M	-13.84M	-40.62M
Pretax Margin %	0.19%	0.08%	-0.47%	-0.21%	-0.8%
Income Tax+	1.89M	1.61M	-709K	-26K	0
Effective Tax Rate %	0.78%	0.73%	0.98%	1%	1%
Net Income+	6.88M	4.34M	-39.99M	-13.82M	-40.62M
Net Margin %	0.15%	0.06%	-0.46%	-0.21%	-0.8%
Net Income Growth %	-	-0.37%	-10.22%	0.65%	-1.94%
Net Income (Continuing)	6.88M	4.34M	-39.99M	-13.82M	-40.62M
Discontinued Operations	0	0	0	0	0
Minority Interest	0	0	0	0	0
EPS (Diluted)+	0.10	0.87	-9.27	-2.34	-5.91
EPS Growth %	-	7.7%	-11.66%	0.75%	-1.53%
EPS (Basic)	0.14	0.87	-9.27	-2.34	-5.91
Diluted Shares Outstanding	44.85M	4.98M	4.29M	5.87M	6.87M
Basic Shares Outstanding	44.85M	4.98M	4.29M	5.87M	6.87M
Dividend Payout Ratio	-	-	-	-	-

Balance Sheet

	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	15.78M	66.08M	73.83M	55.92M	32.92M
Cash & Short-Term Investments	6.21M	25.59M	17.78M	12.71M	4.85M
Cash Only	6.21M	25.59M	17.78M	12.71M	4.85M
Short-Term Investments	0	0	0	0	0
Accounts Receivable	1.84M	783K	1.44M	1.64M	2.42M
Days Sales Outstanding	14.23	3.66	6.11	9.29	17.41
Inventory	5.95M	27.13M	50.19M	38.78M	21.72M
Days Inventory Outstanding	81.68	204.68	292.48	289.18	203.14
Other Current Assets	324K	4.83M	267K	118K	1.47M
Total Non-Current Assets+	3.03M	10.17M	15.27M	19.28M	42.29M
Property, Plant & Equipment	3.03M	10.17M	15.27M	19.28M	41.84M
Fixed Asset Turnover	15.57x	7.67x	5.65x	3.34x	1.21x
Goodwill	0	0	0	0	0
Intangible Assets	0	0	0	0	0
Long-Term Investments	0	128.42M	0	0	0
Other Non-Current Assets	0	-128.42M	0	0	445K
Total Assets+	18.81M	76.25M	89.11M	75.2M	75.21M
Asset Turnover	2.51x	1.02x	0.97x	0.86x	0.67x
Asset Growth %	-	3.05%	0.17%	-0.16%	0%
Total Current Liabilities+	7.16M	17.99M	41.46M	40.38M	21.86M
Accounts Payable	3.09M	11.36M	13.47M	10.26M	10.72M
Days Payables Outstanding	42.45	85.71	78.53	76.5	100.24
Short-Term Debt	0	1.88M	19.24M	19.68M	0
Deferred Revenue (Current)	1000K	434K	238K	201K	1000K
Other Current Liabilities	19K	0	128K	91K	0
Current Ratio	2.20x	3.67x	1.78x	1.38x	1.51x
Quick Ratio	1.37x	2.17x	0.57x	0.42x	0.51x
Cash Conversion Cycle	53.47	122.63	220.07	221.97	120.31
Total Non-Current Liabilities+	3.09M	44.2M	36.9M	6.92M	62.76M
Long-Term Debt	0	37.05M	0	0	29.65M
Capital Lease Obligations	758K	4.69M	3.58M	2.3M	22.65M
Deferred Tax Liabilities	331K	453K	0	0	0
Other Non-Current Liabilities	2M	2M	33.32M	4.62M	6.88M
Total Liabilities	10.25M	62.19M	78.36M	47.29M	84.62M
Total Debt+	983K	44.7M	24.02M	23.31M	55.27M
Net Debt	-5.22M	19.12M	6.24M	10.59M	50.42M
Debt / Equity	0.11x	3.18x	2.24x	0.84x	-
Debt / EBITDA	0.11x	6.31x	-	-	-
Net Debt / EBITDA	-0.58x	2.70x	-	-	-
Interest Coverage	-	12.46x	-4.95x	-1.71x	-1.20x
Total Equity+	8.55M	14.06M	10.74M	27.91M	-9.4M
Equity Growth %	-	0.64%	-0.24%	1.6%	-1.34%
Book Value per Share	0.19	2.82	2.51	4.76	-1.37
Total Shareholders' Equity	8.55M	14.06M	10.74M	27.91M	-9.4M
Common Stock	4K	4K	4K	6K	1K
Retained Earnings	8.1M	12.44M	-27.72M	-41.54M	-82.15M
Treasury Stock	0	0	0	0	0
Accumulated OCI	-2M	0	0	0	0
Minority Interest	0	0	0	0	0

Cash Flow

	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	6.64M	-13.57M	-45.7M	-17.71M	-7.18M
Operating CF Margin %	0.14%	-0.17%	-0.53%	-0.27%	-0.14%
Operating CF Growth %	-	-3.04%	-2.37%	0.61%	0.59%
Net Income	4.59M	4.34M	-39.99M	-13.82M	-40.62M
Depreciation & Amortization	198K	617K	891K	2.42M	3.6M
Stock-Based Compensation	0	734K	2.47M	6.71M	1.02M
Deferred Taxes	210K	122K	-453K	0	0
Other Non-Cash Items	2.64M	380K	4.55M	-22.35M	11.56M
Working Capital Changes	-997K	-19.76M	-13.16M	9.33M	17.25M
Change in Receivables	-1.64M	1.01M	-769K	-309K	-780K
Change in Inventory	-3.41M	-21.18M	-22.73M	11.41M	17.06M
Change in Payables	2.16M	8.9M	4.43M	-3.53M	-5.37M
Cash from Investing+	-1.41M	-2.91M	-6.83M	-6.88M	-2.73M
Capital Expenditures	-1.41M	-2.97M	-6.86M	-6.88M	-2.74M
CapEx % of Revenue	0.03%	0.04%	0.08%	0.11%	0.05%
Acquisitions	-	-	-	-	-
Investments	-	-	-	-	-
Other Investing	0	61K	35K	0	0
Cash from Financing+	12K	38.91M	41.67M	19.52M	2.05M
Debt Issued (Net)	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-
Dividends Paid	0	0	0	0	0
Share Repurchases	-	-	-	-	-
Other Financing	0	-6.09M	-3.33M	1.88M	4K
Net Change in Cash	-	-	-	-	-
Free Cash Flow+	5.23M	-16.54M	-52.56M	-24.59M	-9.92M
FCF Margin %	0.11%	-0.21%	-0.61%	-0.38%	-0.2%
FCF Growth %	-	-4.16%	-2.18%	0.53%	0.6%
FCF per Share	0.12	-3.32	-12.27	-4.19	-1.44
FCF Conversion (FCF/Net Income)	0.97x	-3.13x	1.14x	1.28x	0.18x
Interest Paid	0	313K	2.25M	9.1M	0
Taxes Paid	0	2.39M	773K	238K	0

Key Ratios

Metric	2020	2021	2022	2023	2024
Return on Equity (ROE)	80.4%	38.36%	-322.46%	-71.49%	-438.89%
Return on Invested Capital (ROIC)	196.86%	26.57%	-102.83%	-74.15%	-48.59%
Gross Margin	43.67%	37.98%	27.38%	23.99%	22.96%
Net Margin	14.58%	5.56%	-46.37%	-21.46%	-80.2%
Debt / Equity	0.11x	3.18x	2.24x	0.84x	-
Interest Coverage	-	12.46x	-4.95x	-1.71x	-1.20x
FCF Conversion	0.97x	-3.13x	1.14x	1.28x	0.18x
Revenue Growth	-	65.3%	10.58%	-25.34%	-21.35%

Frequently Asked Questions

Growth & Financials

Dragonfly Energy Holdings Corp. (DFLI) reported $57.8M in revenue for fiscal year 2024. This represents a 22% increase from $47.2M in 2020.

Dragonfly Energy Holdings Corp. (DFLI) saw revenue decline by 21.3% over the past year.

Dragonfly Energy Holdings Corp. (DFLI) reported a net loss of $34.7M for fiscal year 2024.

Dividend & Returns

Dragonfly Energy Holdings Corp. (DFLI) has a return on equity (ROE) of -438.9%. Negative ROE indicates the company is unprofitable.

Dragonfly Energy Holdings Corp. (DFLI) had negative free cash flow of $16.6M in fiscal year 2024, likely due to heavy capital investments.

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