EnerSys (ENS) 10-Year Financial Performance & Capital Metrics

ENS • • Industrial / General

IndustrialsElectrical EquipmentEnergy Storage SystemsResidential & Commercial Storage

AboutEnerSys provides various stored energy solutions for industrial applications worldwide. It operates in three segments: Energy Systems, Motive Power, and Specialty. The company offers uninterruptible power systems applications for computer and computer-controlled systems, as well as telecommunications systems; switchgear and electrical control systems used in industrial facilities and electric utilities, large-scale energy storage, and energy pipelines; integrated power solutions and services to broadband, telecom, renewable, and industrial customers; and thermally managed cabinets and enclosures for electronic equipment and batteries. It also provides motive power products that are used to provide power for electric industrial forklifts used in manufacturing, warehousing, and other material handling applications. In addition, the company offers mining equipment, diesel locomotive starting, and other rail equipment. Further, it provides specialty batteries for starting, lighting, and ignition applications in transportation; and energy solutions for satellites, military aircraft, submarines, ships, and other tactical vehicles, as well as medical and security systems. Additionally, the company offers battery chargers, power equipment, battery accessories, and outdoor cabinet enclosures, as well as related after-market and customer-support services for industrial batteries. The company sells its products through a network of distributors, independent representatives, and internal sales forces. The company was formerly known as Yuasa, Inc. and changed its name to EnerSys in January 2001. EnerSys was incorporated in 2000 and is headquartered in Reading, Pennsylvania.Show more

Revenue $3.62B +1.0%
EBITDA $566M +27.5%
Net Income $364M +35.2%
EPS (Diluted) 8.99 +38.3%
Gross Margin 30.2% +10.0%
EBITDA Margin 15.63% +26.2%
Operating Margin 12.85% +30.9%
Net Margin 10.05% +33.8%
ROE 19.79% +23.6%
ROIC 13.62% +21.1%
Debt/Equity 0.63 +20.4%
Interest Coverage 9.09 +29.2%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong 5Y profit CAGR of 21.5%
✓Momentum leader: RS Rating 88 (top 12%)
✓Good 3Y average ROE of 15.7%
✓Share count reduced 2.3% through buybacks
✓Trading near 52-week high

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y3.74%

5Y3.22%

3Y2.52%

TTM6.17%

Profit (Net Income) CAGR

10Y7.22%

5Y21.55%

3Y36.22%

TTM16.51%

EPS CAGR

10Y9.08%

5Y22.95%

3Y38.83%

TTM20.82%

ROCE

10Y Avg10.86%

5Y Avg10.52%

3Y Avg12.52%

Latest15.65%

Peer Comparison

Residential & Commercial Storage

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
ENSEnerSys	6.17B	167.14	18.59	1%	9.05%	18.06%	2.26%	0.63
AIRJAirJoule Technologies Corporation	234.59M	3.51	0.87			-0.32%		0.00
ADSEADS-TEC Energy PLC	696.82M	11.59	-6.07	2.45%	-71.75%
NEOVNeoVolta Inc.	119.15M	3.43	-22.87	218.59%	-36.68%	-249.09%		1.07

Profit & Loss

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Sales/Revenue+	2.32B	2.37B	2.58B	2.81B	3.09B	2.98B	3.36B	3.71B	3.58B	3.62B
Revenue Growth %	-0.08%	0.02%	0.09%	0.09%	0.1%	-0.04%	0.13%	0.1%	-0.03%	0.01%
Cost of Goods Sold+	1.7B	1.72B	1.92B	2.11B	2.3B	2.24B	2.61B	2.87B	2.6B	2.53B
COGS % of Revenue	0.74%	0.73%	0.75%	0.75%	0.75%	0.75%	0.78%	0.77%	0.73%	0.7%
Gross Profit+	611.73M	650.58M	656.85M	693.01M	784.87M	739.15M	749.97M	840.14M	982.89M	1.09B
Gross Margin %	0.26%	0.27%	0.25%	0.25%	0.25%	0.25%	0.22%	0.23%	0.27%	0.3%
Gross Profit Growth %	-0.05%	0.06%	0.01%	0.06%	0.13%	-0.06%	0.01%	0.12%	0.17%	0.11%
Operating Expenses+	352.7M	369.9M	382.1M	441.4M	594.67M	522.77M	543.72M	561.78M	631.32M	627.72M
OpEx % of Revenue	0.15%	0.16%	0.15%	0.16%	0.19%	0.18%	0.16%	0.15%	0.18%	0.17%
Selling, General & Admin	352.77M	360.46M	382.08M	428.53M	0	0	0	0	0	0
SG&A % of Revenue	0.15%	0.15%	0.15%	0.15%	-	-	-	-	-	-
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	-294K	-1.63M	-556K	-2.43M	594.67M	522.77M	543.72M	561.78M	631.32M	627.72M
Operating Income+	210M	235.9M	269.3M	212.5M	190.19M	216.38M	206.25M	278.36M	351.57M	464.69M
Operating Margin %	0.09%	0.1%	0.1%	0.08%	0.06%	0.07%	0.06%	0.08%	0.1%	0.13%
Operating Income Growth %	-0.2%	0.12%	0.14%	-0.21%	-0.1%	0.14%	-0.05%	0.35%	0.26%	0.32%
EBITDA+	265.99M	289.85M	323.62M	275.85M	277.54M	310.46M	302.13M	369.51M	443.59M	565.56M
EBITDA Margin %	0.11%	0.12%	0.13%	0.1%	0.09%	0.1%	0.09%	0.1%	0.12%	0.16%
EBITDA Growth %	-0.17%	0.09%	0.12%	-0.15%	0.01%	0.12%	-0.03%	0.22%	0.2%	0.27%
D&A (Non-Cash Add-back)	55.99M	53.95M	54.32M	63.35M	87.34M	94.08M	95.88M	91.15M	92.02M	100.88M
EBIT	204.28M	234.89M	263.33M	213.08M	190.61M	208.57M	211.72M	270.17M	342.14M	457.69M
Net Interest Income+	-22.34M	-22.2M	-25M	-30.87M	-43.67M	-38.44M	-37.78M	-59.53M	-49.95M	-51.12M
Interest Income	0	0	0	0	0	0	0	0	0	0
Interest Expense	22.34M	22.2M	25M	30.87M	43.67M	38.44M	37.78M	59.53M	49.95M	51.12M
Other Income/Expense	-28.06M	-23.17M	-32.52M	-30.25M	-43.26M	-46.24M	-32.31M	-67.72M	-59.38M	-58.11M
Pretax Income+	182M	212.7M	238.3M	182.1M	146.94M	170.13M	173.94M	210.64M	292.19M	406.58M
Pretax Margin %	0.08%	0.09%	0.09%	0.06%	0.05%	0.06%	0.05%	0.06%	0.08%	0.11%
Income Tax+	50.11M	54.47M	118.5M	21.6M	9.82M	26.76M	30.03M	34.83M	23.09M	42.84M
Effective Tax Rate %	0.75%	0.75%	0.5%	0.88%	0.93%	0.84%	0.83%	0.83%	0.92%	0.89%
Net Income+	136.2M	160.2M	119.6M	160.2M	137.12M	143.37M	143.91M	175.81M	269.1M	363.74M
Net Margin %	0.06%	0.07%	0.05%	0.06%	0.04%	0.05%	0.04%	0.05%	0.08%	0.1%
Net Income Growth %	-0.25%	0.18%	-0.25%	0.34%	-0.14%	0.05%	0%	0.22%	0.53%	0.35%
Net Income (Continuing)	131.82M	158.22M	119.83M	160.63M	137.12M	143.37M	143.91M	175.81M	269.1M	363.74M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	11.3M	4.91M	5.44M	3.73M	3.54M	3.82M	3.9M	3.6M	3.43M	3.41M
EPS (Diluted)+	2.99	3.64	2.77	3.72	3.20	3.32	3.36	4.25	6.50	8.99
EPS Growth %	-0.21%	0.22%	-0.24%	0.34%	-0.14%	0.04%	0.01%	0.26%	0.53%	0.38%
EPS (Basic)	3.08	3.69	2.81	3.78	3.23	3.37	3.42	4.31	6.62	9.15
Diluted Shares Outstanding	45.47M	44.01M	43.12M	43.01M	42.9M	43.22M	42.78M	41.33M	41.37M	40.44M
Basic Shares Outstanding	44.28M	43.39M	42.61M	42.34M	42.41M	42.55M	42.11M	40.81M	40.67M	39.76M
Dividend Payout Ratio	0.23%	0.19%	0.25%	0.19%	0.22%	0.21%	0.2%	0.16%	0.13%	0.1%

Balance Sheet

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Total Current Assets+	1.3B	1.42B	1.54B	1.54B	1.56B	1.69B	1.99B	1.9B	1.78B	2.09B
Cash & Short-Term Investments	397.31M	500.33M	522.12M	299.21M	326.98M	451.81M	402.49M	346.67M	333.32M	343.13M
Cash Only	397.31M	500.33M	522.12M	299.21M	326.98M	451.81M	402.49M	346.67M	333.32M	343.13M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	493.68M	490.96M	550.41M	673.74M	654.3M	660.96M	796.03M	693.41M	584.21M	676.39M
Days Sales Outstanding	77.8	75.71	77.81	87.58	77.34	81.01	86.54	68.25	59.53	68.25
Inventory	331.08M	360.69M	414.23M	503.87M	519.46M	518.25M	715.71M	797.8M	697.7M	739.99M
Days Inventory Outstanding	70.9	76.7	78.55	86.96	82.33	84.49	100.19	101.52	97.98	106.96
Other Current Assets	19.59M	22.12M	21.32M	27.73M	26.03M	28.49M	46.22M	35.15M	53.09M	62.13M
Total Non-Current Assets+	918.25M	874.11M	947.34M	1.58B	1.74B	1.77B	1.74B	1.72B	1.68B	1.88B
Property, Plant & Equipment	357.41M	348.55M	390.26M	409.44M	480.01M	497.06M	503.26M	513.28M	608.86M	592.43M
Fixed Asset Turnover	6.48x	6.79x	6.62x	6.86x	6.43x	5.99x	6.67x	7.23x	5.88x	6.11x
Goodwill	353.55M	328.66M	352.81M	656.4M	663.94M	705.59M	700.64M	676.72M	682.93M	721.07M
Intangible Assets	159.66M	153.96M	147.14M	462.32M	455.69M	430.9M	396.2M	360.41M	319.41M	375.43M
Long-Term Investments	0	0	0	7.84M	0	0	0	0	2.7M	5K
Other Non-Current Assets	14.11M	11.36M	12.73M	5.08M	83.36M	72.72M	82.87M	121.23M	19.61M	117.7M
Total Assets+	2.21B	2.29B	2.49B	3.12B	3.3B	3.46B	3.74B	3.62B	3.47B	3.97B
Asset Turnover	1.05x	1.03x	1.04x	0.90x	0.94x	0.86x	0.90x	1.03x	1.03x	0.91x
Asset Growth %	0.02%	0.04%	0.08%	0.25%	0.06%	0.05%	0.08%	-0.03%	-0.04%	0.15%
Total Current Liabilities+	451.17M	467.43M	491.53M	612.93M	600.32M	676.99M	738.13M	718.32M	723.86M	775.07M
Accounts Payable	228.44M	222.49M	258.98M	292.45M	281.87M	323.88M	393.1M	378.64M	369.46M	405.69M
Days Payables Outstanding	48.92	47.31	49.11	50.47	44.67	52.8	55.03	48.18	51.89	58.64
Short-Term Debt	22.23M	18.43M	18.43M	54.49M	46.54M	34.15M	55.08M	30.64M	30.44M	28.5M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	119.13M	133.18M	112.28M	170.7M	29.12M	20.5M	22.01M	24.23M	175.34M	28.09M
Current Ratio	2.87x	3.04x	3.13x	2.51x	2.60x	2.50x	2.70x	2.64x	2.46x	2.70x
Quick Ratio	2.14x	2.26x	2.29x	1.68x	1.74x	1.73x	1.73x	1.53x	1.50x	1.74x
Cash Conversion Cycle	99.78	105.09	107.25	124.06	115	112.7	131.71	121.58	105.63	116.57
Total Non-Current Liabilities+	738.88M	717.23M	794.28M	1.22B	1.4B	1.24B	1.51B	1.29B	985.08M	1.28B
Long-Term Debt	606.4M	587.71M	579.53M	971.76M	1.1B	969.62M	1.24B	1.04B	801.97M	1.08B
Capital Lease Obligations	177K	96K	55K	175K	51.62M	42.96M	53.13M	254K	62.33M	67.63M
Deferred Tax Liabilities	46.01M	45.92M	33.61M	82.11M	78.36M	76.41M	78.23M	61.12M	33.88M	17.64M
Other Non-Current Liabilities	80.3M	78.58M	172.31M	138.6M	154.25M	151.17M	129.49M	189.68M	85.94M	105.08M
Total Liabilities	1.19B	1.18B	1.29B	1.83B	2B	1.92B	2.24B	2.01B	1.71B	2.05B
Total Debt+	628.63M	606.13M	598.02M	1.04B	1.22B	1.07B	1.37B	1.09B	914.26M	1.2B
Net Debt	231.32M	105.8M	75.9M	737.32M	897.21M	616.94M	969M	747.54M	580.94M	859.16M
Debt / Equity	0.61x	0.55x	0.50x	0.81x	0.94x	0.69x	0.92x	0.68x	0.52x	0.63x
Debt / EBITDA	2.36x	2.09x	1.85x	3.76x	4.41x	3.44x	4.54x	2.96x	2.06x	2.13x
Net Debt / EBITDA	0.87x	0.37x	0.23x	2.67x	3.23x	1.99x	3.21x	2.02x	1.31x	1.52x
Interest Coverage	9.40x	10.63x	10.77x	6.88x	4.35x	5.63x	5.46x	4.68x	7.04x	9.09x
Total Equity+	1.02B	1.11B	1.2B	1.29B	1.3B	1.54B	1.49B	1.6B	1.76B	1.92B
Equity Growth %	-0.03%	0.08%	0.08%	0.07%	0.01%	0.18%	-0.03%	0.07%	0.1%	0.09%
Book Value per Share	22.53	25.18	27.86	29.90	30.40	35.71	34.90	38.81	42.47	47.47
Total Shareholders' Equity	1.01B	1.1B	1.2B	1.28B	1.3B	1.54B	1.49B	1.6B	1.75B	1.92B
Common Stock	541K	544K	546K	548K	551K	555K	557K	560K	564K	568K
Retained Earnings	1.1B	1.23B	1.32B	1.45B	1.56B	1.67B	1.78B	1.93B	2.16B	2.49B
Treasury Stock	-439.8M	-439.8M	-560.99M	-530.76M	-564.38M	-563.48M	-719.12M	-740.96M	-835.83M	-988.94M
Accumulated OCI	-97.35M	-152.82M	-41.72M	-142.68M	-215.01M	-115.88M	-143.5M	-183.47M	-204.85M	-247.48M
Minority Interest	11.3M	4.91M	5.44M	3.73M	3.54M	3.82M	3.9M	3.6M	3.43M	3.41M

Cash Flow

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operations+	307.57M	246.03M	211.05M	197.85M	253.4M	358.38M	-65.58M	279.94M	457.03M	260.3M
Operating CF Margin %	0.13%	0.1%	0.08%	0.07%	0.08%	0.12%	-0.02%	0.08%	0.13%	0.07%
Operating CF Growth %	0.58%	-0.2%	-0.14%	-0.06%	0.28%	0.41%	-1.18%	5.27%	0.63%	-0.43%
Net Income	131.82M	158.22M	119.83M	160.63M	137.12M	143.37M	143.91M	175.81M	269.1M	363.74M
Depreciation & Amortization	55.99M	53.95M	54.32M	63.35M	87.34M	94.08M	95.88M	91.15M	92.02M	100.88M
Stock-Based Compensation	19.6M	19.18M	19.45M	22.61M	20.78M	0	24.29M	26.37M	30.61M	27.82M
Deferred Taxes	-753K	1.46M	-20.31M	-6.46M	-16.49M	-8.99M	1.11M	-15.24M	-29.34M	-31.93M
Other Non-Cash Items	43.39M	47.9M	6.14M	28.8M	61.04M	28.89M	15.3M	10.11M	43.67M	9.59M
Working Capital Changes	57.51M	-34.67M	31.62M	-71.08M	-36.4M	101.02M	-346.08M	-8.27M	50.98M	-209.8M
Change in Receivables	31.14M	-13.54M	-32.24M	5.97M	26.49M	8.71M	-128.96M	67.55M	108.63M	-81.8M
Change in Inventory	11.67M	-42.79M	-38.08M	-46.61M	-9.38M	24.18M	-212.84M	-96.41M	75.63M	1.34M
Change in Payables	12.18M	845K	21.27M	9.94M	-33.49M	20.8M	65.32M	-4.24M	-15.13M	36.57M
Cash from Investing+	-80.92M	-61.83M	-72.36M	-723.88M	-274.82M	-65.04M	-69.23M	-44.8M	-92.48M	-336.39M
Capital Expenditures	-55.88M	-50.07M	-69.83M	-70.37M	-101.42M	-70.02M	-74.04M	-88.77M	-86.44M	-121.04M
CapEx % of Revenue	0.02%	0.02%	0.03%	0.03%	0.03%	0.02%	0.02%	0.02%	0.02%	0.03%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	10.4M	631K	463K	1.1M	3.15M	4.8M	4.81M	586K	2.23M	1.87M
Cash from Financing+	-105.73M	-62.54M	-166.89M	346.58M	62.68M	-188.72M	98.43M	-270.45M	-370.56M	90.27M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-30.88M	-30.4M	-29.67M	-29.74M	-29.7M	-29.81M	-29.35M	-28.54M	-34.48M	-37.47M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-15.95M	-7.45M	-6.53M	4.03M	-11M	-5.15M	-10.77M	-7.57M	-2.44M	1.47M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	251.69M	195.96M	141.22M	127.48M	151.97M	288.36M	-139.63M	191.17M	370.59M	139.26M
FCF Margin %	0.11%	0.08%	0.05%	0.05%	0.05%	0.1%	-0.04%	0.05%	0.1%	0.04%
FCF Growth %	0.92%	-0.22%	-0.28%	-0.1%	0.19%	0.9%	-1.48%	2.37%	0.94%	-0.62%
FCF per Share	5.53	4.45	3.27	2.96	3.54	6.67	-3.26	4.63	8.96	3.44
FCF Conversion (FCF/Net Income)	2.26x	1.54x	1.76x	1.24x	1.85x	2.50x	-0.46x	1.59x	1.70x	0.72x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	13.11%	15.02%	10.36%	12.88%	10.59%	10.07%	9.48%	11.35%	16.01%	19.79%
Return on Invested Capital (ROIC)	12.33%	14.33%	16.22%	9.66%	6.75%	7.44%	6.69%	8.67%	11.25%	13.62%
Gross Margin	26.41%	27.48%	25.44%	24.68%	25.42%	24.82%	22.34%	22.65%	27.44%	30.2%
Net Margin	5.88%	6.77%	4.63%	5.71%	4.44%	4.81%	4.29%	4.74%	7.51%	10.05%
Debt / Equity	0.61x	0.55x	0.50x	0.81x	0.94x	0.69x	0.92x	0.68x	0.52x	0.63x
Interest Coverage	9.40x	10.63x	10.77x	6.88x	4.35x	5.63x	5.46x	4.68x	7.04x	9.09x
FCF Conversion	2.26x	1.54x	1.76x	1.24x	1.85x	2.50x	-0.46x	1.59x	1.70x	0.72x
Revenue Growth	-7.56%	2.2%	9.07%	8.76%	9.97%	-3.56%	12.74%	10.46%	-3.42%	1%

Revenue by Segment

	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Product	-	-	-	-	-	-	-	3.31B	3.16B	3.26B
Product Growth	-	-	-	-	-	-	-	-	-4.41%	3.00%
Service	-	-	-	-	-	296.21M	353.09M	400.8M	420.01M	360.78M
Service Growth	-	-	-	-	-	-	19.20%	13.51%	4.79%	-14.10%
Reserve Power	1.11B	1.14B	1.25B	1.42B	1.74B	-	-	-	-	-
Reserve Power Growth	-	2.99%	9.24%	13.48%	22.84%	-	-	-	-	-
Motive Power	1.21B	1.22B	1.33B	1.39B	1.35B	-	-	-	-	-
Motive Power Growth	-	1.47%	8.91%	4.34%	-3.14%	-	-	-	-	-

Revenue by Geography

	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
EMEA	78.81M	93.15M	133.16M	123.27M	148.77M	-	-	-	-	-
EMEA Growth	-	18.19%	42.96%	-7.43%	20.68%	-	-	-	-	-
Americas	32.98M	26.04M	29.51M	28.75M	46.3M	-	-	-	-	-
Americas Growth	-	-21.06%	13.34%	-2.58%	61.02%	-	-	-	-	-
Asia	23.59M	22.58M	23.38M	34.53M	21.05M	-	-	-	-	-
Asia Growth	-	-4.26%	3.50%	47.73%	-39.03%	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

EnerSys (ENS) has a price-to-earnings (P/E) ratio of 18.6x. This is roughly in line with market averages.

Growth & Financials

EnerSys (ENS) reported $3.73B in revenue for fiscal year 2025. This represents a 63% increase from $2.28B in 2012.

EnerSys (ENS) grew revenue by 1.0% over the past year. Growth has been modest.

Yes, EnerSys (ENS) is profitable, generating $337.2M in net income for fiscal year 2025 (10.1% net margin).

Dividend & Returns

Yes, EnerSys (ENS) pays a dividend with a yield of 0.55%. This makes it attractive for income-focused investors.

EnerSys (ENS) has a return on equity (ROE) of 19.8%. This is reasonable for most industries.

EnerSys (ENS) generated $326.8M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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