ELVA vs SES vs NRGV Stock Comparison

Electrovaya, Ses Ai and Energy Vault Holdings Prices as of Oct 29, 2026 Peers: Industry group
ELVA Electrovaya Inc.
$5.63 -11.3% 1M -13.3% 1Y
Market cap
$206.72M
P/E
46.9x
Revenue (TTM)
$71.82M
Div. yield
–
Energy Storage Industrials
5 wins
SES SES AI Corp
$0.90 +66.7% 1M -60.0% 1Y
Market cap
$256.78M
P/E
–
Revenue (TTM)
$23.46M
Div. yield
–
Energy Storage Industrials

Head to Head

9 decided of 12

Electrovaya leads on 5 of the 12 questions below (Electrovaya 5, Energy Vault Holdings 4). Which ones matter depends on what you are buying for; a cheap multiple and slow growth often come together.

QuestionELVASESNRGVLeader
Larger companyMarket capitalisation $206.72M $256.78M $537.89M NRGV
Cheaper on earningsLower P/E, profitable companies only 46.9x -3.8x -4.9x –
Cheaper on forward earningsLower price / next fiscal year consensus EPS 62.6x — — –
Faster revenue growthRevenue growth, trailing twelve months +30.9% +44.8% +336.8% NRGV
More profitableNet margin, trailing twelve months 6.1% -289.6% -48.6% ELVA
Better return on capitalReturn on invested capital 3.4% -37.5% -32.8% ELVA
Less leveragedLower net debt / EBITDA 4.9x 2.6x -2.2x NRGV
Higher dividend yieldTrailing dividend yield 0.00% 0.00% 0.00% –
Better 1-year returnPrice return, last 12 months -13.3% -60.0% +0.6% NRGV
Better 5-year returnAnnualised price return, 5 years +2.8%/yr -38.6%/yr -20.0%/yr ELVA
Less volatileAnnualised volatility, 1 year 94.7% 113.3% 103.3% ELVA
Higher overall scoreMean of the five percentile scores vs peers 77/100 52/100 34/100 ELVA

Percentile Scorecard

ELVASESNRGV

Each axis is the mean percentile of its metrics against the company's industry group. 100 is the best in the group, 50 the middle.

Scores by Axis

AxisELVASESNRGV
Valuation 72 #18 of 62 16 #52 of 62 28 #45 of 62
Growth 97 #3 of 59 59 #25 of 59 53 #28 of 59
Profitability 76 #14 of 55 26 #41 of 55 37 #35 of 55
Financial Health 56 #32 of 72 90 #8 of 72 18 #59 of 72
Shareholder Returns 86 #5 of 29 68 #10 of 29 36 #19 of 29
Overall 77 52 34
  • ELVA ranked among 72 companies in Clean Energy Equipment
  • SES ranked among 72 companies in Clean Energy Equipment
  • NRGV ranked among 72 companies in Clean Energy Equipment

Price Performance

Price return, split-adjusted, before dividends. Click a name to hide or show it.

Returns

PeriodELVASESNRGVSPY
1 month -11.3%+66.7%-17.4% +0.7%
3 months -34.2%+66.7%+15.9% +3.7%
6 months -39.2%-14.3%-28.9% +7.1%
Year to date -28.7%-50.0%-28.9% +12.8%
1 year -13.3%-60.0%+0.6% +11.9%
3 years +101.9%-51.1%+75.4% +85.2%
3 years, per year +26.4%-21.2%+20.6% +22.8%
5 years +14.8%-91.3%-67.2% +67.6%
5 years, per year +2.8%-38.6%-20.0% +10.9%
10 years -50.6%—— +262.0%
10 years, per year -6.8%—— +13.7%

Risk

MeasureELVASESNRGVSPY
Volatility, 1Y 94.7%113.3%103.3% 12.7%
Downside volatility, 1Y 90.9%120.2%108.0% 12.6%
Beta vs S&P 500, 1Y 3.473.013.29 1.00
Return / volatility, 1Y -0.14-0.530.01 0.94
Max drawdown, 5Y -64.2%-97.6%-97.1% -25.4%
From 52-week high -54.1%-65.0%-49.5% -1.2%
52-week high $12.26$2.57$6.49 $779.14
52-week low $4.23$0.50$2.51 $631.97

Valuation History

Weekly multiples on trailing twelve-month fundamentals. Negative or extreme readings (a loss year, a collapsed denominator) are left out so the chart stays readable.

MultipleELVASESNRGV
P/E now vs peer median 49.9xmedian 26.6x -4.5xmedian 26.6x -5.3xmedian 26.6x
P/S now vs peer median 3.3xmedian 2.6x 12.6xmedian 2.6x 2.6xmedian 2.6x
EV/EBITDA now vs peer median 51.1xmedian 18.9x -2.1xmedian 18.9x -11.0xmedian 18.9x
P/FCF now vs peer median 62.7xmedian 30.1x -4.9xmedian 30.1x -4.1xmedian 30.1x
P/B now vs peer median 3.5xmedian 1.9x 1.6xmedian 1.9x 86.1xmedian 1.9x
PEG now vs peer median —median 0.97 5.91median 0.97 -0.75median 0.97

Financial History

Reported figures by fiscal period, placed on the calendar year (or quarter) each period ended in, so companies with different fiscal years line up.

Trailing twelve monthsELVASESNRGV
Revenue $71.82M $23.46M $225.87M
Gross profit $23.70M $6.51M $50.76M
Operating income $6.72M -$73.40M -$74.19M
Net income $4.41M -$67.96M -$109.74M
Free cash flow $3.78M -$60.46M -$144.74M
R&D $4.26M $49.84M $11.87M
EPS (diluted) – $-0.20 $-0.62
Cash & equivalents $13.08M $64.14M $93.04M
Total debt $38.27M $3.91M $243.01M
Shares (diluted) – 336.32M 178.39M
Enterprise value $144.22M -$497.53M $298.65M

All Metrics

58 metrics · best in bold

Bold marks the best reading: the lowest positive value for multiples, leverage and payout, the highest for everything else. The bar under each value is its percentile against that company's own peers. Hover a value for its rank and the peer median.

Valuation

12 metrics
MetricELVASESNRGV
P/E 49.9x -4.5x -5.3x
P/FCF 62.7x -4.9x -4.1x
P/Operating cash flow -28.4x -5.0x -5.8x
P/S 3.3x 12.6x 2.6x
P/B 3.5x 1.6x 86.1x
P/Tangible book 3.5x 1.6x -1,746x
EV/EBITDA 51.1x -2.1x -11.0x
EV/EBIT 39.1x -1.8x -10.0x
EV/Revenue 3.7x 5.6x 3.3x
EV/FCF 69.3x -2.2x -5.1x
EV/Operating cash flow -31.5x -2.3x -7.2x
PEG (3Y EPS CAGR) – 5.91 -0.75

Growth

14 metrics
MetricELVASESNRGV
Revenue growth (1Y) 30.9% 44.8% 336.8%
Revenue CAGR (3Y) 31.3% 18.8% 13.8%
Gross profit growth (1Y) 45.1% – 385.2%
Gross profit CAGR (3Y) 43.3% – 31.4%
Operating income growth (1Y) 159.9% 33.0% 41.4%
Operating income CAGR (3Y) 52.9% 3.7% 15.6%
Net income growth (1Y) 267.2% 31.9% 24.1%
Net income CAGR (3Y) 38.9% -3.0% -0.1%
EPS growth (1Y) – 32.8% 33.2%
EPS CAGR (3Y) – -0.8% 7.1%
Operating cash flow growth (1Y) -26.6% 15.0% -227.0%
Operating cash flow CAGR (3Y) – -5.8% -5.1%
Free cash flow growth (1Y) 145.4% 16.2% -71.5%
Free cash flow CAGR (3Y) – 0.6% -9.9%

Profitability

14 metrics
MetricELVASESNRGV
Gross margin 33.0% 27.8% 22.5%
EBITDA margin 7.1% -267.6% -29.8%
Operating margin 9.3% -312.8% -32.8%
Pretax margin 9.3% -289.2% -45.9%
Net margin 6.1% -289.6% -48.6%
FCF margin 5.3% -257.7% -64.1%
Operating cash flow margin -11.6% -248.6% -45.4%
Return on equity 9.8% -34.8% -588.1%
Return on assets 5.7% -27.8% -32.8%
Return on invested capital 3.4% -37.5% -32.8%
Return on capital employed 6.6% -33.9% -40.7%
Asset turnover 0.6x 0.1x 0.7x
Cash conversion (OCF / net income) -1.9x 0.9x 0.9x
Stock comp / revenue 4.6% 35.8% 13.2%

Financial Health

11 metrics
MetricELVASESNRGV
Debt / assets 32.3% 0.2% 65.6%
Debt / equity 0.6x 0.0x 35.4x
Net debt / EBITDA 4.9x 2.6x -2.2x
Debt / FCF 10.1x 0.0x -1.7x
Liabilities / assets 43.3% 20.8% 98.1%
Equity / assets 56.7% 79.2% 1.9%
Interest coverage 18.8x – -5.5x
Current ratio 7.5x 6.5x 1.2x
Quick ratio 4.3x 6.0x 0.8x
Cash ratio 1.3x 5.7x 0.6x
Altman Z-score 2.77 1.09 -1.06

Shareholder Returns

7 metrics
MetricELVASESNRGV
Dividend yield – – –
Net buyback yield 1.7% -0.1% -1.9%
Shareholder yield 1.7% -0.1% -1.9%
Payout ratio (earnings) – – –
Payout ratio (FCF) – – –
Dividend growth (1Y) – – –
Dividend CAGR (3Y) – – –

Analyst Estimates

Solid lines are reported fiscal-year results; dashed lines are the consensus for the years ahead. Hover a year for the analysts' high and low, and how each result compared with its estimate.

ConsensusELVASESNRGV
Forward P/E 62.6xFY2026 – –
EPS, next fiscal year $0.09FY2026 $-0.17FY2026 $-0.37FY2026
EPS growth, next FY 0.0%FY2026 – –
EPS growth, the year after +133.3% – –
Revenue, next fiscal year $74.36MFY2026 $33.88MFY2026 $309.42MFY2026
Revenue growth, next FY +16.5%FY2026 +61.3%FY2026 +51.9%FY2026
Revenue growth, the year after +44.3% +104.4% +54.4%

Institutional Ownership

13F filings, quarter ended Jun 30, 2026
HoldersELVASESNRGV
Held by institutions 37.1% 24.3% 58.6%
Institutions holding 95 133 174
Change in shares held, QoQ +4.8% +22.8% +31.6%
Institutions buying 52 74 120
Institutions selling 26 31 30
Buyers to sellers 2.00 2.39 4.00

Return Correlation

Daily returns, last 12 months

1.00 means two stocks move in lockstep, 0 that they move independently. Pairs below about 0.5 diversify each other.

ELVASESNRGV
ELVA 1.00 0.37 0.37
SES 0.37 1.00 0.40
NRGV 0.37 0.40 1.00

Add a Peer

Largest companies in the same industry

Related Comparisons

Frequently Asked Questions

Which is bigger, ELVA, SES and NRGV?

Energy Vault Holdings (NRGV) is the largest by market capitalisation: Electrovaya (ELVA) $206.72M, Ses Ai (SES) $256.78M, Energy Vault Holdings (NRGV) $537.89M.

Which company is growing faster?

Energy Vault Holdings (NRGV) grew revenue fastest over the trailing twelve months: Electrovaya (ELVA) +30.9%, Ses Ai (SES) +44.8%, Energy Vault Holdings (NRGV) +336.8%.

Which company is more profitable?

Electrovaya (ELVA) has the highest net margin (Electrovaya (ELVA) 6.1%, Ses Ai (SES) -289.6%, Energy Vault Holdings (NRGV) -48.6%). On return on invested capital, Electrovaya (ELVA) leads (Electrovaya (ELVA) 3.4%, Ses Ai (SES) -37.5%, Energy Vault Holdings (NRGV) -32.8%).

Which stock has performed better?

Over the past year Energy Vault Holdings (NRGV) returned the most: Electrovaya (ELVA) -13.3%, Ses Ai (SES) -60.0%, Energy Vault Holdings (NRGV) +0.6%. Over five years, Electrovaya (ELVA) compounded fastest (Electrovaya (ELVA) +2.8%/yr, Ses Ai (SES) -38.6%/yr, Energy Vault Holdings (NRGV) -20.0%/yr). Returns are price only, before dividends.

Which stock is riskier?

By one-year price volatility, Electrovaya (ELVA) has been the steadiest (Electrovaya (ELVA) 94.7%, Ses Ai (SES) 113.3%, Energy Vault Holdings (NRGV) 103.3%). Volatility measures how widely the price swings, not the risk of the business.

Which is the better stock, ELVA, SES and NRGV?

There is no single answer; it depends on what you are buying for. On the 12 head-to-head measures on this page, Electrovaya (ELVA) leads on 5. Business Quant does not give investment advice; use the comparison as a starting point for your own research.

Data from SEC filings, exchange prices and consensus estimates, via Business Quant. Percentile scores compare each company with its own peer group, so two companies' scores are each relative to different peers unless you rank against the whole market. Price returns exclude dividends. Nothing on this page is investment advice.