NET Power Inc. (NPWR) 10-Year Financial Performance & Capital Metrics

NPWR • • Industrial / General

IndustrialsIndustrial MachineryPower Generation & Energy EquipmentClean Energy Technologies

AboutNET Power Inc. operates as a clean energy technology company. It invents, develops, and licenses clean power generation technology. The company was founded in 2010 and is headquartered in Durham, North Carolina.Show more

Revenue $250K +42.9%
EBITDA -$167M +22.2%
Net Income -$49M +36.3%
EPS (Diluted) -0.67 +64.2%
Gross Margin -685.2% -28.7%
EBITDA Margin -66810.8% +45.5%
Operating Margin -72528.4% +44.2%
Net Margin -19676.4% +55.4%
ROE -2.19% +66.0%
ROIC -7.49% +59.3%
Debt/Equity 0.00 +55.2%
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓Trading at only 0.1x book value

✗Weaknesses

✗Weak Piotroski F-Score: 3/9
✗Negative free cash flow
✗Shares diluted 78.2% in last year
✗Trading more than 30% below 52-week high
✗Low asset turnover indicates capital-intensive operations

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y-

3Y-50.83%

TTM-100%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-7868.89%

EPS CAGR

10Y-

5Y-

3Y-

TTM-68928.83%

ROCE

10Y Avg-20.68%

5Y Avg-20.68%

3Y Avg-16.54%

Latest-7.65%

Peer Comparison

Clean Energy Technologies

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
AMSCAmerican Superconductor Corporation	1.48B	31.08	194.25	52.99%	5.69%	4.43%	1.75%	0.02
GTLSChart Industries, Inc.	9.31B	207.06	50.50	24.1%	1.55%	1.98%	4.11%	1.25
BLDPBallard Power Systems Inc.	811.99M	2.70	-2.50	-31.88%	-132.8%	-19.75%		0.04
NPWRNET Power Inc.	210.64M	2.51	-3.75	42.86%	-196.76%	-101.86%		0.00
XCHXCHG Limited American Depositary Share	43.5M	1.06	-5.32	9.59%	-17.86%	-40.46%		0.35
NNENano Nuclear Energy Inc	1.68B	33.38	-31.49			-15.25%		0.01

Profit & Loss

	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	45K	2.1M	580K	175K	250K
Revenue Growth %	-	45.73%	-0.72%	-0.7%	0.43%
Cost of Goods Sold+	37K	829K	275K	1.11M	1.96M
COGS % of Revenue	0.82%	0.39%	0.47%	6.33%	7.85%
Gross Profit+	8K	1.27M	305K	-932K	-1.71M
Gross Margin %	0.18%	0.61%	0.53%	-5.33%	-6.85%
Gross Profit Growth %	-	158.25%	-0.76%	-4.06%	-0.84%
Operating Expenses+	36.41M	38.98M	50.33M	226.73M	179.61M
OpEx % of Revenue	809%	18.54%	86.78%	1295.59%	718.43%
Selling, General & Admin	14.59M	16.14M	17.99M	39.92M	33.51M
SG&A % of Revenue	324.13%	7.67%	31.02%	228.11%	134.03%
Research & Development	7.39M	10.11M	18.95M	40.03M	63.85M
R&D % of Revenue	164.16%	4.81%	32.68%	228.76%	255.41%
Other Operating Expenses	14.43M	12.74M	13.39M	146.78M	82.25M
Operating Income+	-36.4M	-37.71M	-50.02M	-227.66M	-181.32M
Operating Margin %	-808.82%	-17.93%	-86.25%	-1300.91%	-725.28%
Operating Income Growth %	-	-0.04%	-0.33%	-3.55%	0.2%
EBITDA+	-23.39M	-24.97M	-36.64M	-214.62M	-167.03M
EBITDA Margin %	-519.82%	-11.87%	-63.17%	-1226.39%	-668.11%
EBITDA Growth %	-	-0.07%	-0.47%	-4.86%	0.22%
D&A (Non-Cash Add-back)	13.01M	12.74M	13.39M	13.04M	14.29M
EBIT	-36.4M	-37.71M	-50.02M	-132.01M	-181.32M
Net Interest Income+	2K	18.34K	-4.79M	19.44M	31.39M
Interest Income	2K	18.34K	0	19.48M	31.39M
Interest Expense	0	0	4.79M	0	0
Other Income/Expense	-7K	-577K	-4.75M	45.96M	6.1M
Pretax Income+	-36.4M	-38.29M	-54.78M	-181.7M	-175.22M
Pretax Margin %	-808.98%	-18.21%	-94.44%	-1038.28%	-700.9%
Income Tax+	0	0	0	-5.71M	-10.58M
Effective Tax Rate %	1%	1%	1%	0.43%	0.28%
Net Income+	-36.4M	-38.29M	-54.78M	-77.23M	-49.19M
Net Margin %	-808.98%	-18.21%	-94.44%	-441.33%	-196.76%
Net Income Growth %	-	-0.05%	-0.43%	-0.41%	0.36%
Net Income (Continuing)	-36.4M	-38.29M	-54.78M	-175.99M	-164.64M
Discontinued Operations	0	0	0	0	0
Minority Interest	0	-390.89K	0	1.55B	1.51B
EPS (Diluted)+	-10.49	-0.23	-14.79	-1.87	-0.67
EPS Growth %	-	0.98%	-63.3%	0.87%	0.64%
EPS (Basic)	-10.49	-0.23	-14.79	-1.87	-0.67
Diluted Shares Outstanding	3.47M	43.13M	71.28M	41.19M	73.4M
Basic Shares Outstanding	3.47M	43.13M	71.28M	41.19M	73.4M
Dividend Payout Ratio	-	-	-	-	-

Balance Sheet

	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	13.63M	3.33M	7.5M	640.8M	513.03M
Cash & Short-Term Investments	12.78M	2.57M	5.16M	636.93M	507.57M
Cash Only	12.78M	2.57M	5.16M	536.93M	329.23M
Short-Term Investments	0	0	0	100M	178.34M
Accounts Receivable	34K	7.96K	352K	2M	3.68M
Days Sales Outstanding	275.78	1.38	221.52	4.17K	5.38K
Inventory	0	0	0	0	0
Days Inventory Outstanding	-	-	-	-	-
Other Current Assets	824K	0	1.79M	93K	0
Total Non-Current Assets+	93.45M	345.04M	70.64M	1.83B	1.78B
Property, Plant & Equipment	93.14M	80.43M	70.38M	99.07M	154.17M
Fixed Asset Turnover	0.00x	0.03x	0.01x	0.00x	0.00x
Goodwill	0	0	0	423.92M	359.85M
Intangible Assets	307K	285K	263K	1.31B	1.24B
Long-Term Investments	0	345.04M	0	0	22.63M
Other Non-Current Assets	0	345.04M	0	0	3.1M
Total Assets+	107.08M	348.37M	78.14M	2.47B	2.29B
Asset Turnover	0.00x	0.01x	0.01x	0.00x	0.00x
Asset Growth %	-	2.25%	-0.78%	30.65%	-0.07%
Total Current Liabilities+	8.5M	519.32K	8.45M	12.02M	17.91M
Accounts Payable	622K	143.41K	577K	617K	3.09M
Days Payables Outstanding	6.14K	63.14	765.84	203.44	574.93
Short-Term Debt	0	7.01M	0	347K	0
Deferred Revenue (Current)	0	-1000K	0	0	0
Other Current Liabilities	7.88M	0	5.35M	11.06M	2.61M
Current Ratio	1.60x	6.40x	0.89x	53.31x	28.65x
Quick Ratio	1.60x	6.40x	0.89x	53.31x	28.65x
Cash Conversion Cycle	-	-	-	-	-
Total Non-Current Liabilities+	0	41.8M	5.28M	130.28M	114.02M
Long-Term Debt	0	0	0	0	0
Capital Lease Obligations	0	0	656K	1.81M	2.23M
Deferred Tax Liabilities	0	0	0	59.88M	4.31M
Other Non-Current Liabilities	0	41.8M	4.63M	68.59M	107.48M
Total Liabilities	8.5M	42.32M	13.73M	142.3M	131.93M
Total Debt+	0	7.01M	786K	2.15M	3.1M
Net Debt	-12.78M	4.44M	-4.38M	-534.77M	-326.13M
Debt / Equity	-	0.02x	0.01x	0.00x	0.00x
Debt / EBITDA	-	-	-	-	-
Net Debt / EBITDA	-	-	-	-	-
Interest Coverage	-	-	-10.44x	-	-
Total Equity+	98.58M	306.05M	64.4M	2.33B	2.16B
Equity Growth %	-	2.1%	-0.79%	35.19%	-0.07%
Book Value per Share	28.40	7.10	0.90	56.59	29.46
Total Shareholders' Equity	98.58M	306.44M	64.4M	785.01M	655.6M
Common Stock	227.96M	345M	262.62M	21K	22K
Retained Earnings	-131.46M	-38.56M	-224.53M	-66.85M	-116.04M
Treasury Stock	0	0	0	0	0
Accumulated OCI	20K	20K	17K	0	32K
Minority Interest	0	-390.89K	0	1.55B	1.51B

Cash Flow

	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-24.98M	-1.33M	-16.63M	-49M	-31.65M
Operating CF Margin %	-555.09%	-0.63%	-28.67%	-280.01%	-126.6%
Operating CF Growth %	-	0.95%	-11.48%	-1.95%	0.35%
Net Income	-36.4M	-9.8M	-54.78M	-77.23M	-164.64M
Depreciation & Amortization	13.01M	0	13.17M	50.84M	81.62M
Stock-Based Compensation	0	0	12.62M	0	33.67M
Deferred Taxes	0	0	0	-5.71M	-10.58M
Other Non-Cash Items	-2.01M	9.14M	14.51M	-12.54M	23.11M
Working Capital Changes	429K	-670.36K	-2.16M	-4.37M	5.17M
Change in Receivables	106K	-7.96K	-301K	-2M	-931K
Change in Inventory	0	0	0	0	0
Change in Payables	0	0	-1.14M	-189K	2.48M
Cash from Investing+	-220K	-345.03M	-115K	-103.7M	-168.67M
Capital Expenditures	-220K	0	-115K	-11.65M	-68.65M
CapEx % of Revenue	4.89%	0%	0.2%	66.56%	274.6%
Acquisitions	-	-	-	-	-
Investments	-	-	-	-	-
Other Investing	0	0	0	0	-1.2M
Cash from Financing+	29M	348.93M	21.47M	335.39M	-4.93M
Debt Issued (Net)	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-
Dividends Paid	0	0	0	0	0
Share Repurchases	-	-	-	-	-
Other Financing	29M	-166.59K	-533K	-11.9M	-4.88M
Net Change in Cash	-	-	-	-	-
Free Cash Flow+	-25.2M	-1.33M	-16.75M	-60.65M	-101.5M
FCF Margin %	-559.98%	-0.63%	-28.87%	-346.57%	-406.01%
FCF Growth %	-	0.95%	-11.57%	-2.62%	-0.67%
FCF per Share	-7.26	-0.03	-0.23	-1.47	-1.38
FCF Conversion (FCF/Net Income)	0.69x	0.03x	0.30x	0.63x	0.64x
Interest Paid	0	0	0	0	0
Taxes Paid	0	0	0	0	0

Key Ratios

Metric	2020	2021	2022	2023	2024
Return on Equity (ROE)	-36.93%	-18.92%	-29.57%	-6.45%	-2.19%
Return on Invested Capital (ROIC)	-	-14.27%	-20.25%	-18.4%	-7.49%
Gross Margin	17.78%	60.58%	52.59%	-532.57%	-685.2%
Net Margin	-80897.78%	-1820.54%	-9444.48%	-44132.57%	-19676.4%
Debt / Equity	-	0.02x	0.01x	0.00x	0.00x
Interest Coverage	-	-	-10.44x	-	-
FCF Conversion	0.69x	0.03x	0.30x	0.63x	0.64x
Revenue Growth	-	4573.33%	-72.42%	-69.83%	42.86%

Frequently Asked Questions

Growth & Financials

NET Power Inc. (NPWR) reported $0.3M in revenue for fiscal year 2024. This represents a 456% increase from $0.0M in 2020.

NET Power Inc. (NPWR) grew revenue by 42.9% over the past year. This is strong growth.

NET Power Inc. (NPWR) reported a net loss of $593.3M for fiscal year 2024.

Dividend & Returns

NET Power Inc. (NPWR) has a return on equity (ROE) of -2.2%. Negative ROE indicates the company is unprofitable.

NET Power Inc. (NPWR) had negative free cash flow of $151.8M in fiscal year 2024, likely due to heavy capital investments.

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