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NET Power Inc.(NPWR)Earnings, Financials & Key Ratios
NPWR•NYSE
$2.17
$301M mkt cap·Price updated May 6, 2026
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$0-100.0%
- EBITDA-$1.62B-867.1%
- Net Income-$579M-1076.1%
- EPS (Diluted)-7.34-995.5%
- ROE-42.9%-1859.1%
- Debt/Equity0.01+392.5%
NPWR Key Insights
NET Power Inc. (NPWR) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓Company is almost debt free
- ✓Trading at only 0.3x book value
✗Weaknesses
- ✗Weak Piotroski F-Score: 1/9
- ✗Low quality earnings: Net income not backed by cash flow
- ✗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.
NPWR Price & Volume
NET Power Inc. (NPWR) stock price & volume — 10-year historical chart
Loading chart...
NPWR Growth Metrics
NET Power Inc. (NPWR) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years-
5 Years-
3 Years-
TTM-100%
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM-1076.09%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM-867.19%
Return on Capital
10 Years-20.68%
5 Years-16.63%
3 Years-12.82%
Last Year-
NPWR Recent Earnings
NET Power Inc. (NPWR) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 5/12 qtrs (45%)●Beat Revenue 0/12 qtrs (0%)
Q2 2026Latest
Mar 9, 2026EPS
$0.20
Est $0.09
-117.2%
Revenue
—
Est $3M
Q4 2025
Nov 13, 2025EPS
$5.84
Est $0.16
+3850.8%
Revenue
—
Q3 2025
Aug 11, 2025EPS
$0.36
Est $0.12
-208.1%
Revenue
—
Q2 2025
May 12, 2025EPS
$1.55
Est $0.11
-1309.1%
Revenue
—
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Mar 9, 2026 | $0.20vs $0.09-117.2% | —vs $3M |
| Q4 2025 | Nov 13, 2025 | $5.84vs $0.16+3850.8% | — |
| Q3 2025 | Aug 11, 2025 | $0.36vs $0.12-208.1% | — |
| Q2 2025 | May 12, 2025 | $1.55vs $0.11-1309.1% | — |
Based on last 12 quarters of dataView full earnings history →
NPWR Peer Comparison
NET Power Inc. (NPWR) competitors in Engines and power generation equipment — 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 |
|---|---|---|---|---|---|---|---|---|
 CLNE | 491.3M | 2.24 | -2.22 | 2.16% | -52.22% | -39.29% | 0.18 | |
 HYLN | 449.03M | 2.39 | -7.24 | 130.28% | -16.46% | -29.78% | 0.02 | |
 AMRC | 1.67B | 31.55 | 38.01 | 9.16% | 1.59% | 2.86% | 1.73 | |
 TPVG | 225.54M | 5.57 | 4.57 | 36.55% | 13.09% | 1.33 | ||
 NET | 87.85B | 248.59 | -857.21 | 29.85% | -4.72% | -7.48% | 2.54 | |
 GE | 319.54B | 305.83 | 37.48 | 18.48% | 17.91% | 45.85% | 1.08 | |
 BKR | 66.1B | 66.65 | 25.64 | -0.34% | 11.17% | 16.13% | 0.38 | |
 SLB | 82.8B | 55.16 | 23.47 | -1.6% | 9.38% | 13.88% | 0.45 |
Compare NPWR vs Peers
NET Power Inc. (NPWR) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
NPWR Income Statement
NET Power Inc. (NPWR) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Line item | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|
| Sales/Revenue | 45K | 2.1M | 580K | 175K | 250K | 0 |
| Revenue Growth % | - | 4573.33% | -72.42% | -69.83% | 42.86% | -100% |
| Cost of Goods Sold | 37K | 829K | 275K | 1.11M | 1.96M | 0 |
| COGS % of Revenue | 82.22% | 39.42% | 47.41% | 632.57% | 785.2% | - |
| Gross Profit | 8K▲ 0% | 1.27M▲ 15825.0% | 305K▼ 76.1% | -932K▼ 405.6% | -1.71M▼ 83.8% | 0▲ 100.0% |
| Gross Margin % | 17.78% | 60.58% | 52.59% | -532.57% | -685.2% | - |
| Gross Profit Growth % | - | 15825% | -76.06% | -405.57% | -83.8% | 100% |
| Operating Expenses | 36.41M | 38.98M | 50.33M | 226.73M | 179.61M | 1.79B |
| OpEx % of Revenue | 80900% | 1853.69% | 8677.59% | 129558.86% | 71843.2% | - |
| Selling, General & Admin | 14.59M | 16.14M | 17.99M | 39.92M | 33.51M | 45.26M |
| SG&A % of Revenue | 32413.33% | 767.28% | 3101.72% | 22811.43% | 13403.2% | - |
| Research & Development | 7.39M | 10.11M | 18.95M | 40.03M | 63.85M | 99.51M |
| R&D % of Revenue | 16415.56% | 480.74% | 3267.76% | 22876% | 25541.2% | - |
| Other Operating Expenses | 14.43M | 12.74M | 13.39M | 146.78M | 82.25M | 1.65B |
| Operating Income | -36.4M▲ 0% | -37.71M▼ 3.6% | -50.02M▼ 32.7% | -227.66M▼ 355.1% | -181.32M▲ 20.4% | 0▲ 100.0% |
| Operating Margin % | -80882.22% | -1793.11% | -8625% | -130091.43% | -72528.4% | - |
| Operating Income Growth % | - | -3.6% | -32.66% | -355.09% | 20.35% | 100% |
| EBITDA | -23.39M | -24.97M | -36.64M | -214.62M | -167.03M | -1.62B |
| EBITDA Margin % | -51982.22% | -1187.45% | -6316.9% | -122639.43% | -66810.8% | - |
| EBITDA Growth % | - | -6.75% | -46.72% | -485.78% | 22.18% | -867.12% |
| D&A (Non-Cash Add-back) | 13.01M | 12.74M | 13.39M | 13.04M | 14.29M | 62.39M |
| EBIT | -36.4M | -37.71M | -50.02M | -132.01M | -181.32M | 0 |
| Net Interest Income | 2K | 18.34K | -4.79M | 19.44M | 31.39M | 0 |
| Interest Income | 2K | 18.34K | 0 | 19.48M | 31.39M | 0 |
| Interest Expense | 0 | 0 | 4.79M | 0 | 0 | 0 |
| Other Income/Expense | -7K | -577K | -4.75M | 45.96M | 6.1M | 0 |
| Pretax Income | -36.4M▲ 0% | -38.29M▼ 5.2% | -54.78M▼ 43.1% | -181.7M▼ 231.7% | -175.22M▲ 3.6% | -1.68B▼ 857.5% |
| Pretax Margin % | -80897.78% | -1820.54% | -9444.48% | -103828% | -70089.6% | - |
| Income Tax | 0 | 0 | 0 | -5.71M | -10.58M | -1.1B |
| Effective Tax Rate % | 0% | 0% | 0% | 3.14% | 6.04% | 65.52% |
| Net Income | -36.4M▲ 0% | -38.29M▼ 5.2% | -54.78M▼ 43.1% | -77.23M▼ 41.0% | -49.19M▲ 36.3% | -578.53M▼ 1076.1% |
| Net Margin % | -80897.78% | -1820.54% | -9444.48% | -44132.57% | -19676.4% | - |
| Net Income Growth % | - | -5.17% | -43.08% | -40.99% | 36.31% | -1076.09% |
| Net Income (Continuing) | -36.4M | -38.29M | -54.78M | -175.99M | -164.64M | -578.53M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | -390.89K | 0 | 1.55B | 1.51B | 0 |
| EPS (Diluted) | -10.49▲ 0% | -0.23▲ 97.8% | -14.79▼ 6330.4% | -1.87▲ 87.4% | -0.67▲ 64.2% | -7.34▼ 995.5% |
| EPS Growth % | - | 97.81% | -6330.43% | 87.36% | 64.17% | -995.52% |
| EPS (Basic) | -10.49 | -0.23 | -14.79 | -1.87 | -0.67 | -7.34 |
| Diluted Shares Outstanding | 3.47M | 43.13M | 71.28M | 41.19M | 73.4M | 78.82M |
| Basic Shares Outstanding | 3.47M | 43.13M | 71.28M | 41.19M | 73.4M | 78.82M |
| Dividend Payout Ratio | - | - | - | - | - | - |
NPWR Balance Sheet
NET Power Inc. (NPWR) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|
| Total Current Assets | 13.63M | 3.33M | 7.5M | 640.8M | 513.03M | 343.76M |
| Cash & Short-Term Investments | 12.78M | 2.57M | 5.16M | 636.93M | 507.57M | 337.89M |
| Cash Only | 12.78M | 2.57M | 5.16M | 536.93M | 329.23M | 199.43M |
| Short-Term Investments | 0 | 0 | 0 | 100M | 178.34M | 138.46M |
| Accounts Receivable | 34K | 7.96K | 352K | 2M | 3.68M | 1.38M |
| Days Sales Outstanding | 275.78 | 1.38 | 221.52 | 4.17K | 5.38K | - |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - |
| Other Current Assets | 824K | 0 | 1.79M | 93K | 0 | 4.5M |
| Total Non-Current Assets | 93.45M | 345.04M | 70.64M | 1.83B | 1.78B | 255.94M |
| Property, Plant & Equipment | 93.14M | 80.43M | 70.38M | 99.07M | 154.17M | 33.31M |
| Fixed Asset Turnover | 0.00x | 0.03x | 0.01x | 0.00x | 0.00x | - |
| Goodwill | 0 | 0 | 0 | 423.92M | 359.85M | 0 |
| Intangible Assets | 307K | 285K | 263K | 1.31B | 1.24B | 181.57M |
| Long-Term Investments | 0 | 345.04M | 0 | 0 | 22.63M | 38.24M |
| Other Non-Current Assets | 0 | 345.04M | 0 | 0 | 3.1M | 2.81M |
| Total Assets | 107.08M▲ 0% | 348.37M▲ 225.3% | 78.14M▼ 77.6% | 2.47B▲ 3065.2% | 2.29B▼ 7.2% | 599.7M▼ 73.9% |
| Asset Turnover | 0.00x | 0.01x | 0.01x | 0.00x | 0.00x | - |
| Asset Growth % | - | 225.33% | -77.57% | 3065.23% | -7.24% | -73.86% |
| Total Current Liabilities | 8.5M | 519.32K | 8.45M | 12.02M | 17.91M | 47.47M |
| Accounts Payable | 622K | 143.41K | 577K | 617K | 3.09M | 1.44M |
| Days Payables Outstanding | 6.14K | 63.14 | 765.84 | 203.44 | 574.93 | - |
| Short-Term Debt | 0 | 7.01M | 0 | 347K | 0 | 1.2M |
| Deferred Revenue (Current) | 0 | -7.01M | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 7.88M | 0 | 5.35M | 11.06M | 2.61M | 46.26M |
| Current Ratio | 1.60x | 6.40x | 0.89x | 53.31x | 28.65x | 7.24x |
| Quick Ratio | 1.60x | 6.40x | 0.89x | 53.31x | 28.65x | 7.24x |
| Cash Conversion Cycle | - | - | - | - | - | - |
| Total Non-Current Liabilities | 0 | 41.8M | 5.28M | 130.28M | 114.02M | 17.03M |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 2.58M |
| Capital Lease Obligations | 0 | 0 | 656K | 1.81M | 2.23M | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 59.88M | 4.31M | 0 |
| Other Non-Current Liabilities | 0 | 41.8M | 4.63M | 68.59M | 107.48M | 14.45M |
| Total Liabilities | 8.5M | 42.32M | 13.73M | 142.3M | 131.93M | 64.5M |
| Total Debt | 0 | 7.01M | 786K | 2.15M | 3.1M | 3.79M |
| Net Debt | -12.78M | 4.44M | -4.38M | -534.77M | -326.13M | -195.65M |
| Debt / Equity | - | 0.02x | 0.01x | 0.00x | 0.00x | 0.01x |
| Debt / EBITDA | - | - | - | - | - | - |
| Net Debt / EBITDA | - | - | - | - | - | - |
| Interest Coverage | - | - | -10.44x | - | - | - |
| Total Equity | 98.58M▲ 0% | 306.05M▲ 210.4% | 64.4M▼ 79.0% | 2.33B▲ 3519.3% | 2.16B▼ 7.2% | 535.21M▼ 75.2% |
| Equity Growth % | - | 210.44% | -78.96% | 3519.32% | -7.24% | -75.25% |
| Book Value per Share | 28.40 | 7.10 | 0.90 | 56.59 | 29.46 | 6.79 |
| Total Shareholders' Equity | 98.58M | 306.44M | 64.4M | 785.01M | 655.6M | 535.21M |
| Common Stock | 227.96M | 345M | 262.62M | 21K | 22K | 0 |
| Retained Earnings | -131.46M | -38.56M | -224.53M | -66.85M | -116.04M | 0 |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 20K | 20K | 17K | 0 | 32K | 0 |
| Minority Interest | 0 | -390.89K | 0 | 1.55B | 1.51B | 0 |
NPWR Cash Flow Statement
NET Power Inc. (NPWR) cash flow — operating, investing & free cash flow history
| Line item | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|
| Cash from Operations | -24.98M | -1.33M | -16.63M | -49M | -31.65M | -120.78M |
| Operating CF Margin % | -55508.89% | -63.34% | -2867.24% | -28001.14% | -12659.6% | - |
| Operating CF Growth % | - | 94.67% | -1148.38% | -194.66% | 35.41% | -281.64% |
| Net Income | -36.4M | -9.8M | -54.78M | -77.23M | -164.64M | -578.53M |
| Depreciation & Amortization | 13.01M | 0 | 13.17M | 50.84M | 81.62M | 62.39M |
| Stock-Based Compensation | 0 | 0 | 12.62M | 0 | 33.67M | 46.43M |
| Deferred Taxes | 0 | 0 | 0 | -5.71M | -10.58M | -4.31M |
| Other Non-Cash Items | -2.01M | 9.14M | 14.51M | -12.54M | 23.11M | 353.23M |
| Working Capital Changes | 429K | -670.36K | -2.16M | -4.37M | 5.17M | 0 |
| Change in Receivables | 106K | -7.96K | -301K | -2M | -931K | 0 |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Payables | 0 | 0 | -1.14M | -189K | 2.48M | -1.66M |
| Cash from Investing | -220K | -345.03M | -115K | -103.7M | -168.67M | -8.8M |
| Capital Expenditures | -220K | 0 | -115K | -11.65M | -68.65M | -33.21M |
| CapEx % of Revenue | 488.89% | 0% | 19.83% | 6656% | 27460.4% | - |
| Acquisitions | 0 | 0 | 0 | 7.95M | 0 | 0 |
| Investments | - | - | - | - | - | - |
| Other Investing | 0 | 0 | 0 | 0 | -1.2M | 98.78M |
| Cash from Financing | 29M | 348.93M | 21.47M | 335.39M | -4.93M | -230K |
| Debt Issued (Net) | 0 | 0 | -8M | 0 | -67K | 0 |
| Equity Issued (Net) | 0 | 1000K | 1000K | 1000K | 19K | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | -218.98M | 0 | 0 |
| Other Financing | 29M | -166.59K | -533K | -11.9M | -4.88M | -230K |
| Net Change in Cash | 3.8M▲ 0% | 2.57M▼ 32.4% | 4.72M▲ 83.6% | 531.76M▲ 11168.6% | -205.25M▼ 138.6% | -129.82M▲ 36.8% |
| Free Cash Flow | -25.2M▲ 0% | -1.33M▲ 94.7% | -16.75M▼ 1157.0% | -60.65M▼ 262.2% | -101.5M▼ 67.4% | -154M▼ 51.7% |
| FCF Margin % | -55997.78% | -63.34% | -2887.07% | -34657.14% | -40601.2% | - |
| FCF Growth % | - | 94.71% | -1157.01% | -262.2% | -67.36% | -51.72% |
| FCF per Share | -7.26 | -0.03 | -0.23 | -1.47 | -1.38 | -1.95 |
| FCF Conversion (FCF/Net Income) | 0.69x | 0.03x | 0.30x | 0.63x | 0.64x | 0.21x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 |
NPWR Key Ratios
NET Power Inc. (NPWR) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Return on Equity (ROE) | -36.93% | -18.92% | -29.57% | -6.45% | -2.19% | -42.9% |
| 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 | 0.01x |
| Interest Coverage | - | - | -10.44x | - | - | - |
| FCF Conversion | 0.69x | 0.03x | 0.30x | 0.63x | 0.64x | 0.21x |
| Revenue Growth | - | 4573.33% | -72.42% | -69.83% | 42.86% | -100% |
NPWR SEC Filings & Documents
NET Power Inc. (NPWR) SEC filings — annual & quarterly reports (10-K, 10-Q)
NPWR Frequently Asked Questions
NET Power Inc. (NPWR) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
NET Power Inc. (NPWR) saw revenue decline by 100.0% over the past year.
NET Power Inc. (NPWR) reported a net loss of $578.5M for fiscal year 2025.
Dividend & Returns
NET Power Inc. (NPWR) has a return on equity (ROE) of -42.9%. Negative ROE indicates the company is unprofitable.
NET Power Inc. (NPWR) had negative free cash flow of $154.0M in fiscal year 2025, likely due to heavy capital investments.
Explore More NPWR
NET Power Inc. (NPWR) financial analysis — history, returns, DCA and operating performance tools
Total Return Calculator
Historical returns with dividends reinvested
DCA Calculator
Dollar cost averaging vs lump sum
Dividend History
Yield, growth, payout safety & DRIP
Earnings History
EPS trends, net income & profitability
Price History
Long-term charts & historical price data
Revenue History
Sales growth patterns & revenue breakdown
Financial Ratios
30 years of market, efficiency and balance-sheet ratios
Valuation
DCF intrinsic value, peer multiples & estimates