8-K Announcements
6Material company update
May 7, 2026·SEC
Material company update
Apr 15, 2026·SEC
Material company update
Mar 5, 2026·SEC
ESS Tech, Inc.(GWH)Earnings, Financials & Key Ratios
GWH•NYSE
Price updated Jun 19, 2026
AboutESS Tech, Inc., an energy storage company, designs and produces iron flow batteries for commercial and utility-scale energy storage applications worldwide. It offers energy storage products, which include Energy Warehouse, a behind-the-meter solution; and Energy Center, a front-of-the-meter solution. The company was founded in 2011 and is headquartered in Wilsonville, Oregon.Show more
- Revenue$2M-74.9%
- EBITDA-$50M+41.3%
- Net Income-$63M+26.4%
- EPS (Diluted)-4.34+40.7%
- Gross Margin-2110.68%-192.9%
- EBITDA Margin-3156.03%-133.5%
- Operating Margin-3518.64%-146.7%
- Net Margin-4007.58%-192.6%
- ROE-338.33%-159.5%
GWH Key Insights
ESS Tech, Inc. (GWH) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓Share count reduced 91.7% through buybacks
- ✓Trading at only 1.3x book value
✗Weaknesses
- ✗Profits declining 15.8% over 5 years
- ✗Weak Piotroski F-Score: 2/9
- ✗Negative free cash flow
- ✗Weak momentum: RS Rating 7 (bottom 7%)
- ✗Trading more than 30% below 52-week high
- ✗Low asset turnover indicates capital-intensive operations
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
Get notified when GWH posts new earnings or crosses analyst targets
Free. No account needed. Unsubscribe any time.
GWH Price & Volume
ESS Tech, Inc. (GWH) stock price & volume — 10-year historical chart
Loading chart...
GWH Growth Metrics
ESS Tech, Inc. (GWH) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years-
5 Years-
3 Years20.98%
TTM-73.24%
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM28.63%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM53.45%
Return on Capital
10 Years-96.37%
5 Years-87.24%
3 Years-109.97%
Last Year-158.94%
GWH Recent Earnings
ESS Tech, Inc. (GWH) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 5/12 qtrs (42%)●Beat Revenue 3/12 qtrs (25%)
Q2 2026Latest
Mar 5, 2026Metric
Actual
Est
EPS
$1.97-159.2%
$0.76
Rev
$2M+0.8%
$2M
Q4 2025
Nov 13, 2025Metric
Actual
Est
EPS
$0.73+3.9%
$0.76
Rev
$214,000+113.4%
$2M
Q3 2025
Aug 14, 2025Metric
Actual
Est
EPS
$0.90-2.3%
$0.88
Rev
$2M+81.4%
$1M
Q2 2025
May 15, 2025Metric
Actual
Est
EPS
$1.50-24.5%
$1.21
Rev
$599,000-82.7%
$3M
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Mar 5, 2026 | $1.97vs $0.76-159.2% | $2Mvs $2M+0.8% |
| Q4 2025 | Nov 13, 2025 | $0.73vs $0.76+3.9% | $214,000vs $2M+113.4% |
| Q3 2025 | Aug 14, 2025 | $0.90vs $0.88-2.3% | $2Mvs $1M+81.4% |
| Q2 2025 | May 15, 2025 | $1.50vs $1.21-24.5% | $599,000vs $3M-82.7% |
Based on last 12 quarters of dataView full earnings history →
GWH Peer Comparison
ESS Tech, Inc. (GWH) competitors in Grid-Scale Storage and Microgrids — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 FLUX | 15.06M | 0.86 | -2.15 | 9.22% | -12.48% | -7.38% | ||
 NRGV | 709.2M | 4.10 | -6.31 | 340.86% | -52.97% | -146.8% | 1.07 | |
 STEM | 70.03M | 8.22 | -0.90 | 8.08% | 93.33% | |||
 MVST | 429.77M | 1.29 | -14.33 | 12.56% | -11.52% | -10.76% | 0.45 | |
 BE | 79.07B | 328.91 | -888.95 | 37.33% | 0.25% | 0.79% | 3.77 | |
 FCEL | 1.27B | 24.04 | -3.24 | 41.05% | -132.72% | -31.29% | 0.20 | |
 NEE | 180.9B | 86.75 | 26.37 | 11% | 29.3% | 12.66% | 1.44 | |
 AES | 10.43B | 14.62 | 11.60 | -0.37% | 10.72% | 13.55% | 2.54 |
Compare GWH vs Peers
ESS Tech, Inc. (GWH) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
GWH Income Statement
ESS Tech, Inc. (GWH) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Metric | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|
Sales/Revenue | 0 | 0 | 0 | 894K | 7.54M | 6.29M | 1.58M | 1.11M |
Revenue Growth % | - | - | - | - | 743.4% | -16.51% | -74.85% | -73.24% |
Cost of Goods Sold | 0 | 436K | 572K | 0 | 20.5M | 51.65M | 34.99M | 33.41M |
COGS % of Revenue | - | - | - | - | 271.82% | 820.54% | 2210.68% | - |
Gross Profit | 0▲ 0% | -436K▲ 0% | -572K▼ 31.2% | 894K▲ 256.3% | -12.96M▼ 1549.1% | -45.36M▼ 250.1% | -33.41M▲ 26.3% | -32.3M▲ 0% |
Gross Margin % | - | - | - | 100% | -171.82% | -720.54% | -2110.68% | -2904.95% |
Gross Profit Growth % | - | - | -31.19% | 256.29% | -1549.11% | -250.12% | 26.34% | - |
Operating Expenses | 9.89M | 16.96M | 60.03M | 106.39M | 72.95M | 44.44M | 22.29M | 19.03M |
OpEx % of Revenue | - | - | - | 11900% | 967.51% | 705.96% | 1407.96% | - |
Selling, General & Admin | 2.18M | 4.06M | 29.75M | 34.41M | 30.32M | 32.67M | 21.44M | 18.03M |
SG&A % of Revenue | - | - | - | 3848.66% | 402.1% | 518.95% | 1354.26% | - |
Research & Development | 6.66M | 12.9M | 30.27M | 71.98M | 42.63M | 11.77M | 8.3M | 8.44M |
R&D % of Revenue | - | - | - | 8051.34% | 565.41% | 187.01% | 524.13% | - |
Other Operating Expenses | 1.05M | 0 | 0 | 0 | 0 | 0 | -7.45M | -1000K |
Operating Income | -9.89M▲ 0% | -17.39M▼ 75.9% | -60.6M▼ 248.4% | -105.49M▼ 74.1% | -85.91M▲ 18.6% | -89.8M▼ 4.5% | -55.7M▲ 38.0% | -51.33M▲ 0% |
Operating Margin % | - | - | - | -11800% | -1139.32% | -1426.5% | -3518.64% | -4616.37% |
Operating Income Growth % | - | -75.87% | -248.45% | -74.07% | 18.57% | -4.53% | 37.97% | - |
EBITDA | -9.63M | -16.96M | -60.03M | -103.97M | -79.39M | -85.07M | -49.96M | -44.76M |
EBITDA Margin % | - | - | - | -11629.64% | -1052.94% | -1351.45% | -3156.03% | -4024.73% |
EBITDA Growth % | - | -76.09% | -254.03% | -73.2% | 23.64% | -7.16% | 41.27% | 46.34% |
D&A (Non-Cash Add-back) | 260K | 436K | 572K | 1.52M | 6.51M | 4.72M | 5.74M | 6.58M |
EBIT | -9.89M | -30.29M | -475.23M | -105.49M | -85.91M | -89.8M | -55.7M | -51.44M |
Net Interest Income | 1.02M | 0 | 0 | 2.19M | 5.26M | 3.57M | -5.46M | -3.17M |
Interest Income | 1.02M | 132K | 1.89M | 2.19M | 5.26M | 3.57M | 0 | 30K |
Interest Expense | 0 | 132K | 1.89M | 0 | 0 | 0 | 5.46M | 3.21M |
Other Income/Expense | -1.66M | -13.03M | -416.51M | 27.52M | 8.33M | 3.58M | -7.74M | -10M |
Pretax Income | -11.55M▲ 0% | -30.42M▼ 163.5% | -477.12M▼ 1468.5% | -77.97M▲ 83.7% | -77.58M▲ 0.5% | -86.22M▼ 11.1% | -63.44M▲ 26.4% | -61.34M▲ 0% |
Pretax Margin % | - | - | - | -8721.36% | -1028.89% | -1369.69% | -4007.58% | -5515.83% |
Income Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
Net Income | -11.55M▲ 0% | -30.42M▼ 163.5% | -477.12M▼ 1468.5% | -77.97M▲ 83.7% | -77.58M▲ 0.5% | -86.22M▼ 11.1% | -63.44M▲ 26.4% | -61.34M▲ 0% |
Net Margin % | - | - | - | -8721.36% | -1028.89% | -1369.69% | -4007.58% | -5515.83% |
Net Income Growth % | - | -163.46% | -1468.48% | 83.66% | 0.5% | -11.14% | 26.42% | 28.63% |
Net Income (Continuing) | -11.55M | -30.42M | -477.12M | -77.97M | -77.58M | -86.22M | -63.44M | -61.34M |
Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
EPS (Diluted) | -1.64▲ 0% | -7.77▼ 373.8% | -58.53▼ 653.3% | -7.66▲ 86.9% | -0.48▲ 93.7% | -7.32▼ 1425.0% | -4.34▲ 40.7% | -2.09▲ 0% |
EPS Growth % | - | -373.78% | -653.28% | 86.91% | 93.73% | -1425% | 40.71% | 53.45% |
EPS (Basic) | -1.64 | -7.77 | -58.53 | -7.66 | -0.48 | -7.32 | -4.34 | - |
Diluted Shares Outstanding | 7.04M | 3.93M | 83.26M | 152.68M | 159.96M | 176.6M | 14.6M | 29.29M |
Basic Shares Outstanding | 7.04M | 3.93M | 83.26M | 152.68M | 159.96M | 176.6M | 14.6M | 29.29M |
Dividend Payout Ratio | - | - | - | - | - | - | - | - |
GWH Balance Sheet
ESS Tech, Inc. (GWH) balance sheet — assets, liabilities & shareholders' equity
| Metric | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|
Total Current Assets | 18.95M | 6.86M | 245.52M | 151.64M | 118.1M | 43.36M | 26.25M | 24.77M |
Cash & Short-Term Investments | 18.29M | 4.9M | 238.94M | 139.81M | 108.06M | 31.6M | 22.03M | 21.45M |
Cash Only | 18.29M | 4.9M | 238.94M | 34.77M | 20.16M | 13.34M | 14.48M | 15.49M |
Short-Term Investments | 0 | 0 | 0 | 105.05M | 87.9M | 18.26M | 7.56M | 5.97M |
Accounts Receivable | 0 | 0 | 517K | 4.95M | 2.24M | 2.42M | 1.45M | 37K |
Days Sales Outstanding | - | - | - | 2.02K | 108.58 | 140.14 | 333.87 | 142.87 |
Inventory | 0 | 0 | 0 | 1.21M | 3.37M | 5.64M | 140K | 123K |
Days Inventory Outstanding | - | - | - | - | 59.95 | 39.86 | 1.46 | 26.18 |
Other Current Assets | 567K | 1.85M | 1.48M | 2.51M | 3.9M | 1.52M | 2.63M | 3.16M |
Total Non-Current Assets | 2.19M | 2.16M | 4.68M | 21.92M | 25.13M | 28.45M | 24.93M | 23.8M |
Property, Plant & Equipment | 1.66M | 1.84M | 4.5M | 20.97M | 18.43M | 22.09M | 20.99M | 19.63M |
Fixed Asset Turnover | - | - | - | 0.04x | 0.41x | 0.29x | 0.08x | 0.05x |
Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Intangible Assets | 0 | 0 | 0 | 183K | 4.92M | 4.66M | 2.68M | 2.62M |
Long-Term Investments | 0 | 0 | 0 | 675K | 0 | 0 | 0 | 0 |
Other Non-Current Assets | 529K | 326K | 180K | 946K | 1.78M | 1.71M | 1.25M | 1.55M |
Total Assets | 21.14M▲ 0% | 9.02M▼ 57.3% | 250.2M▲ 2672.9% | 173.55M▼ 30.6% | 143.23M▼ 17.5% | 71.81M▼ 49.9% | 51.17M▼ 28.7% | 48.57M▲ 0% |
Asset Turnover | - | - | - | 0.01x | 0.05x | 0.09x | 0.03x | 0.03x |
Asset Growth % | - | -57.32% | 2672.9% | -30.63% | -17.47% | -49.86% | -28.74% | -165.06% |
Total Current Liabilities | 2.89M | 8.39M | 13.62M | 27.99M | 19.77M | 27.6M | 25.29M | 23.01M |
Accounts Payable | 697K | 522K | 1.57M | 3.04M | 2.75M | 8.07M | 3.02M | 1.33M |
Days Payables Outstanding | - | 437 | 1K | - | 49.06 | 57.03 | 31.53 | 66.77 |
Short-Term Debt | 365K | 5.68M | 1.9M | 1.6M | 0 | 0 | 1.78M | 1.85M |
Deferred Revenue (Current) | 0 | 0 | 3.66M | 6.17M | 2.55M | 5.24M | 359K | 3.42M |
Other Current Liabilities | 898K | 705K | 683K | 12.82M | 7.2M | 1.08M | 20.13M | 19.48M |
Current Ratio | 6.56x | 0.82x | 18.02x | 5.42x | 5.97x | 1.57x | 1.04x | 1.08x |
Quick Ratio | 6.56x | 0.82x | 18.02x | 5.37x | 5.80x | 1.37x | 1.03x | 1.07x |
Cash Conversion Cycle | - | - | - | - | 119.46 | 122.98 | 303.8 | 102.27 |
Total Non-Current Liabilities | 2.67M | 2.28M | 31.42M | 8.59M | 20.11M | 15.33M | 17.26M | 16.11M |
Long-Term Debt | 463K | 19K | 1.87M | 315K | 0 | 0 | 2.06M | 1.57M |
Capital Lease Obligations | 0 | 0 | 0 | 2.54M | 957K | 0 | 0 | 0 |
Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Other Non-Current Liabilities | 2.21M | 2.26M | 29.55M | 3.29M | 917K | 927K | 15.2M | 14.55M |
Total Liabilities | 5.56M | 10.67M | 45.04M | 36.58M | 39.88M | 42.93M | 42.55M | 39.13M |
Total Debt | 828K | 5.7M | 3.77M | 5.87M | 2.54M | 1.69M | 3.84M | 3.42M |
Net Debt | -17.46M | 796K | -235.17M | -28.9M | -17.63M | -11.65M | -10.63M | -12.07M |
Debt / Equity | 0.05x | - | 0.02x | 0.04x | 0.02x | 0.06x | 0.45x | 0.36x |
Debt / EBITDA | - | - | - | - | - | - | - | -0.08x |
Net Debt / EBITDA | - | - | - | - | - | - | - | 0.27x |
Interest Coverage | - | -229.45x | -251.98x | - | - | - | -10.21x | -16.05x |
Total Equity | 15.58M▲ 0% | -1.65M▼ 110.6% | 205.16M▲ 12549.0% | 136.97M▼ 33.2% | 103.36M▼ 24.5% | 28.88M▼ 72.1% | 8.62M▼ 70.2% | 9.45M▲ 0% |
Equity Growth % | - | -110.58% | 12548.97% | -33.24% | -24.54% | -72.05% | -70.16% | -290.77% |
Book Value per Share | 2.21 | -0.42 | 2.46 | 0.90 | 0.65 | 0.16 | 0.59 | 0.32 |
Total Shareholders' Equity | 15.58M | -1.65M | 205.16M | 136.97M | 103.36M | 28.88M | 8.62M | 9.45M |
Common Stock | 1K | 6K | 16K | 16K | 18K | 1K | 2K | 232K |
Retained Earnings | -33.07M | -63.49M | -540.61M | -618.58M | -696.16M | -782.38M | -845.82M | -861.74M |
Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Accumulated OCI | 153K | 153K | 0 | 0 | 0 | 0 | 0 | 0 |
Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
GWH Cash Flow Statement
ESS Tech, Inc. (GWH) cash flow — operating, investing & free cash flow history
| Metric | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|
Cash from Operations | -6.67M | -16.64M | -51.85M | -81.62M | -54.9M | -72.22M | -50.28M | -45.51M |
Operating CF Margin % | - | - | - | -9129.75% | -728.06% | -1147.24% | -3176.5% | - |
Operating CF Growth % | - | -149.36% | -211.5% | -57.42% | 32.74% | -31.56% | 30.37% | 144.23% |
Net Income | -11.55M | -30.42M | -477.12M | -77.97M | -77.58M | -86.22M | -63.44M | -61.34M |
Depreciation & Amortization | 260K | 436K | 572K | 1.52M | 6.51M | 4.72M | 5.74M | 6.58M |
Stock-Based Compensation | 175K | 310K | 7.92M | 11.89M | 10.63M | 11.57M | 5.43M | 5.26M |
Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Other Non-Cash Items | 2.05M | 12.98M | 414.69M | -25.52M | 7.18M | 4.18M | 8.37M | 11.31M |
Working Capital Changes | 2.38M | 47K | 2.09M | 8.46M | -1.65M | -6.47M | -6.39M | -7.32M |
Change in Receivables | 0 | 0 | 0 | -1.89M | 3.63M | 1.55M | 202K | 197K |
Change in Inventory | 0 | 0 | 0 | 0 | -14.66M | -8.63M | 4.83M | 5.24M |
Change in Payables | 0 | -221K | 886K | 1.46M | -229K | 4.24M | -3.84M | -6.07M |
Cash from Investing | -851K | -502K | -2.77M | -117.88M | 15.07M | 64.76M | 7.53M | -5M |
Capital Expenditures | -851K | -502K | -2.77M | -14.18M | -5.79M | -7.29M | -3.39M | -3.56M |
CapEx % of Revenue | - | - | - | 1586.13% | 76.79% | 115.87% | 213.96% | 319.69% |
Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Investments | - | - | - | - | - | - | - | - |
Other Investing | 0 | 0 | 0 | 0 | 20.86M | 72.05M | 0 | -3.1M |
Cash from Financing | 22.25M | 4.72M | 288.45M | -4.07M | 25.65M | 174K | 43.46M | 57.52M |
Debt Issued (Net) | 2.46M | 4.71M | -1.07M | -1.9M | -1.73M | 0 | 5.67M | 13.2M |
Equity Issued (Net) | 0 | 0 | 27.02M | -2.81M | 26.82M | -297K | 37.79M | 53.49M |
Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Share Repurchases | 0 | 0 | 0 | -2.81M | -310K | -297K | -50K | -33K |
Other Financing | 19.79M | 7K | 262.5M | 635K | 564K | 471K | 0 | -9.17M |
Net Change in Cash | 18.82M▲ 0% | -12.43M▼ 166.0% | 233.84M▲ 1982.0% | -203.58M▼ 187.1% | -14.17M▲ 93.0% | -7.29M▲ 48.6% | 706K▲ 109.7% | 7.02M▲ 0% |
Free Cash Flow | -7.53M▲ 0% | -17.15M▼ 127.8% | -54.62M▼ 218.5% | -95.8M▼ 75.4% | -60.69M▲ 36.7% | -79.51M▼ 31.0% | -53.67M▲ 32.5% | -49.06M▲ 0% |
FCF Margin % | - | - | - | -10715.88% | -804.85% | -1263.11% | -3390.46% | -4411.87% |
FCF Growth % | - | -127.84% | -218.52% | -75.41% | 36.65% | -31.02% | 32.5% | 37.62% |
FCF per Share | -1.07 | -4.37 | -0.66 | -0.63 | -0.38 | -0.45 | -3.68 | -1.67 |
FCF Conversion (FCF/Net Income) | 0.58x | 0.55x | 0.11x | 1.05x | 0.71x | 0.84x | 0.79x | 0.80x |
Interest Paid | 0 | 111K | 1.8M | 154K | 0 | 0 | 0 | 0 |
Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
GWH Key Ratios
ESS Tech, Inc. (GWH) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|
Return on Equity (ROE) | -436.62% | -468.89% | -45.58% | -64.56% | -130.4% | -338.33% | -1251.69% |
Return on Invested Capital (ROIC) | - | - | -202.7% | -66.49% | -130.82% | -548.95% | 2512.68% |
Gross Margin | - | - | 100% | -171.82% | -720.54% | -2110.68% | -2904.95% |
Net Margin | - | - | -8721.36% | -1028.89% | -1369.69% | -4007.58% | -5515.83% |
Debt / Equity | - | 0.02x | 0.04x | 0.02x | 0.06x | 0.45x | 0.36x |
Interest Coverage | -229.45x | -251.98x | - | - | - | -10.21x | -16.05x |
FCF Conversion | 0.55x | 0.11x | 1.05x | 0.71x | 0.84x | 0.79x | 0.80x |
Revenue Growth | - | - | - | 743.4% | -16.51% | -74.85% | -73.24% |
Related:GWH Dividend History·GWH Revenue History·GWH Price History·GWH P/E History·GWH Financial Ratios·GWH Institutional Holders
GWH SEC Filings & Documents
ESS Tech, Inc. (GWH) SEC filings — annual & quarterly reports (10-K, 10-Q)
GWH Frequently Asked Questions
ESS Tech, Inc. (GWH) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
ESS Tech, Inc. (GWH) reported $1.1M in revenue for fiscal year 2025.
ESS Tech, Inc. (GWH) saw revenue decline by 74.9% over the past year.
ESS Tech, Inc. (GWH) reported a net loss of $61.3M for fiscal year 2025.
Dividend & Returns
ESS Tech, Inc. (GWH) has a return on equity (ROE) of -338.3%. Negative ROE indicates the company is unprofitable.
ESS Tech, Inc. (GWH) had negative free cash flow of $49.1M in fiscal year 2025, likely due to heavy capital investments.