ESS Tech (GWH) Return on Capital Employed [ROCE] (2021 - 2026)
ESS Tech (GWH) reported Return on Capital Employed [ROCE] of -275.86% for Q2 2026, up 63.69 percentage points from -339.55% a year earlier but down 78.38 percentage points from the prior quarter.
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Analysis
ESS Tech (GWH) Return on Capital Employed [ROCE] (2021 - 2026) Analysis & Trends
For FY2025, ESS Tech posted Return on Capital Employed [ROCE] of -158.58%, down 46.22 percentage points from FY2024.
- Return on Capital Employed [ROCE] has declined for four consecutive years, with a four-year change of -106.33 percentage points (FY2021 to FY2025).
- By year, Return on Capital Employed [ROCE] came in at -112.36% in FY2024 (-50.39 pp), -61.97% in FY2023 (-4.60 pp), -57.37% in FY2022 (-5.12 pp) and -52.25% in FY2021.
- Five-year quarterly Return on Capital Employed [ROCE] spans a low of -447.58% in Q3 2025 and a high of -11.90% in Q3 2021.
- Year over year, Return on Capital Employed [ROCE] gained in two of the last eight quarters, with an average year-over-year change of -116.32 percentage points.
- The high point for year-over-year Return on Capital Employed [ROCE] in five years was Q2 2026 (a gain of 63.69 percentage points); the low point was Q3 2025 (a drop of 328.75 percentage points).
- Per Business Quant data, the three quarters before Q2 2026 came in at -197.48% (Q1 2026), -312.56% (Q4 2025) and -447.58% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROCE (Qtr) |
|---|---|---|---|---|---|
| 1 | GE Vernova | 263.36 Bn | 224.44 Bn | 2.36 Bn | 8.04% |
| 2 | Bloom Energy | 84.85 Bn | 76.67 Bn | 355.57 Mn | 8.69% |
| 3 | First Solar | 18.77 Bn | 9.72 Bn | 605.00 Mn | 16.07% |
| 4 | Generac Holdings | 12.79 Bn | 11.62 Bn | 521.81 Mn | 9.38% |
| 5 | Nextpower | 12.78 Bn | 8.68 Bn | 335.85 Mn | 23.08% |
| 6 | BWX Technologies | 12.36 Bn | 10.66 Bn | 202.31 Mn | 11.64% |
| 7 | EnerSys | 7.13 Bn | 5.32 Bn | 313.36 Mn | 15.27% |
| 8 | Enphase Energy | 4.42 Bn | -436.70 Mn | 175.01 Mn | 4.90% |
| 9 | Mirion Technologies | 3.57 Bn | 1.46 Bn | 133.10 Mn | 1.68% |
| 10 | ESS Tech | 5.26 Mn | 5.26 Mn | -7.42 Mn | -275.86% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -275.86% |
| Mar 31, 2026 | -197.48% |
| Dec 31, 2025 | -312.56% |
| Sep 30, 2025 | -447.58% |
| Jun 30, 2025 | -339.55% |
| Mar 31, 2025 | -218.66% |
| Dec 31, 2024 | -158.51% |
| Sep 30, 2024 | -118.83% |
| Jun 30, 2024 | -87.35% |
| Mar 31, 2024 | -71.25% |
| Dec 31, 2023 | -65.49% |
| Sep 30, 2023 | -78.86% |
| Jun 30, 2023 | -93.85% |
| Mar 31, 2023 | -78.41% |
| Dec 31, 2022 | -68.18% |
| Sep 30, 2022 | -57.86% |
| Jun 30, 2022 | -43.44% |
| Mar 31, 2022 | -33.19% |
| Dec 31, 2021 | -25.62% |
| Sep 30, 2021 | -11.90% |
API Access
ESS Tech Return on Capital Employed [ROCE] API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=return-on-capital-employed-%5Broce%5D&ticker=GWH&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-capital-employed-[roce]", "ticker": "GWH", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=return-on-capital-employed-%5Broce%5D&ticker=GWH&period=max&api_key=YOUR_API_KEY");
const data = await res.json();