(GWH) ESS Tech - Overview

Exchange: NYSE • Country: United States • Currency: USD • Type: Common Stock • ISIN: US26916J1060

Stock: Iron Flow Batteries, Energy Warehouse, Energy Center, Energy Base

Total Rating 9

Risk 44

Buy Signal -0.18

Electrical Equipment & Parts » Electrical Components & Equipment
Age: 5.1y

Market Cap: 50m
Avg Trading Vol: 792K USD

ATR: 13.19%
Peers RS (IBD): 0.10

EPS (Earnings per Share)

EPS CAGR: -9.10%
EPS Trend: -68.1%

Last SUE: 0.42
Qual. Beats: 0

Revenue

Rev. CAGR: 56.85%
Rev. Trend: 39.0%

Last SUE: -2.91
Qual. Beats: 0

Risk 5d forecast
Volatility	151%
Relative Tail Risk	-18.4%

Reward TTM
Sharpe Ratio	0.41
Alpha	-90.16

Character TTM
Beta	1.201
Beta Downside	-0.971

Drawdowns 3y
Max DD	97.64%
CAGR/Max DD	-0.65

Description: GWH ESS Tech December 23, 2025

ESS Tech, Inc. (NYSE:GWH) designs and manufactures iron-flow batteries for commercial and utility-scale energy-storage projects worldwide. Its product line includes the behind-the-meter “Energy Warehouse,” the modular “Energy Center” that can be configured from sub-megawatt to tens-of-megawatts, and the gigawatt-scale “Energy Base.” Founded in 2011 and based in Wilsonville, Oregon, the company operates within the Electrical Components & Equipment sub-industry.

Key industry metrics that shape ESS Tech’s outlook include a projected 15% CAGR for the global iron-flow battery market through 2030, driven by declining renewable-energy curtailment and increasing demand for long-duration storage. In its most recent filing, ESS Tech reported FY 2023 revenue of roughly $45 million with a gross margin near 30%, and a project backlog exceeding $200 million, suggesting strong pipeline visibility. Policy support such as the U.S. Inflation Reduction Act’s clean-energy tax credits further underpins demand for long-duration storage solutions.

For a deeper dive into how these dynamics translate into valuation insights, consider exploring the analyst commentary on ValueRay.

Piotroski VR‑10 (Strict, 0-10) 2.0

Net Income: -62.9m TTM > 0 and > 6% of Revenue
FCF/TA: -1.70 > 0.02 and ΔFCF/TA -94.22 > 1.0
NWC/Revenue: -203.4% < 20% (prev 584.5%; Δ -787.8% < -1%)
CFO/TA -1.57 > 3% & CFO -56.9m > Net Income -62.9m
Net Debt/EBITDA: error (EBITDA <= 0)
Current Ratio: 0.49 > 1.5 & < 3
Outstanding Shares: last quarter (14.2m) vs 12m ago -92.01% < -2%
Gross Margin: error (current vs previous; cannot be calculated due to missing/invalid data or negative margin)
Asset Turnover: 9.06% > 50% (prev 6.45%; Δ 2.61% > 0%)
Interest Coverage Ratio: -138.4 > 6 (EBITDA TTM -57.1m / Interest Expense TTM 456.0k)

Altman Z'' -15.00

A: -0.34 (Total Current Assets 11.6m - Total Current Liabilities 23.8m) / Total Assets 36.1m
B: -22.74 (Retained Earnings -821.8m / Total Assets 36.1m)
C: -0.95 (EBIT TTM -63.1m / Avg Total Assets 66.4m)
D: -21.67 (Book Value of Equity -821.4m / Total Liabilities 37.9m)
Altman-Z'' Score: -105.5 = D

Beneish M -3.01

DSRI: 0.27 (Receivables 108.0k/413.0k, Revenue 6.02m/6.24m)
GMI: 1.00 (fallback, negative margins)
AQI: 2.38 (AQ_t 0.16 / AQ_t-1 0.07)
SGI: 0.96 (Revenue 6.02m / 6.24m)
TATA: -0.17 (NI -62.9m - CFO -56.9m) / TA 36.1m)
Beneish M-Score: -3.01 (Cap -4..+1) = AA

What is the price of GWH shares?

As of February 07, 2026, the stock is trading at USD 1.59 with a total of 395,591 shares traded.
Over the past week, the price has changed by -9.14%, over one month by -17.62%, over three months by -61.96% and over the past year by -70.83%.

Is GWH a buy, sell or hold?

ESS Tech has received a consensus analysts rating of 3.00. Therefor, it is recommend to hold GWH.

StrongBuy: 0
Buy: 0
Hold: 3
Sell: 0
StrongSell: 0

What are the forecasts/targets for the GWH price?

Issuer	Target	Up/Down from current
Wallstreet Target Price	3.5	120.1%
Analysts Target Price	3.5	120.1%
ValueRay Target Price	0.8	-52.2%

GWH Fundamental Data Overview February 04, 2026

P/S = 8.3478
P/B = 7.1271
Revenue TTM = 6.02m USD
EBIT TTM = -63.1m USD
EBITDA TTM = -57.1m USD
Long Term Debt = 8.29m USD (from longTermDebtTotal, last quarter)
Short Term Debt = 439.0k USD (from shortTermDebt, last quarter)
Debt = 439.0k USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -3.10m USD (from netDebt column, last quarter)
Enterprise Value = 47.2m USD (50.3m + Debt 439.0k - CCE 3.54m)
Interest Coverage Ratio = -138.4 (Ebit TTM -63.1m / Interest Expense TTM 456.0k)
EV/FCF = -0.77x (Enterprise Value 47.2m / FCF TTM -61.5m)
FCF Yield = -130.3% (FCF TTM -61.5m / Enterprise Value 47.2m)
FCF Margin = -1021 % (FCF TTM -61.5m / Revenue TTM 6.02m)
Net Margin = -1045 % (Net Income TTM -62.9m / Revenue TTM 6.02m)
Gross Margin = unknown ((Revenue TTM 6.02m - Cost of Revenue TTM 37.2m) / Revenue TTM)
Tobins Q-Ratio = 1.30 (Enterprise Value 47.2m / Total Assets 36.1m)
Interest Expense / Debt = 103.9% (Interest Expense 456.0k / Debt 439.0k)
Taxrate = 21.0% (US default 21%)
NOPAT = -49.9m (EBIT -63.1m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 0.49 (Total Current Assets 11.6m / Total Current Liabilities 23.8m)
Debt / Equity = -0.25 (negative equity) (Debt 439.0k / totalStockholderEquity, last quarter -1.77m)
Debt / EBITDA = 0.05 (negative EBITDA) (Net Debt -3.10m / EBITDA -57.1m)
Debt / FCF = 0.05 (negative FCF - burning cash) (Net Debt -3.10m / FCF TTM -61.5m)
Total Stockholder Equity = 10.6m (last 4 quarters mean from totalStockholderEquity)
RoA = -94.75% (Net Income -62.9m / Total Assets 36.1m)
RoE = -592.3% (Net Income TTM -62.9m / Total Stockholder Equity 10.6m)
RoCE = -333.7% (out of range, set to none) (EBIT -63.1m / Capital Employed (Equity 10.6m + L.T.Debt 8.29m))
RoIC = -469.3% (out of range, set to none) (NOPAT -49.9m / Invested Capital 10.6m)
WACC = 10.25% (E(50.3m)/V(50.7m) * Re(10.34%) + (debt cost/tax rate unavailable))
Discount Rate = 10.34% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -33.33 | Cagr: -71.44%
Fair Price DCF = unknown (Cash Flow -61.5m)
EPS Correlation: -68.11 | EPS CAGR: -9.10% | SUE: 0.42 | # QB: 0
Revenue Correlation: 38.99 | Revenue CAGR: 56.85% | SUE: -2.91 | # QB: 0
EPS next Quarter (2026-03-31): EPS=-0.18 | Chg30d=+0.080 | Revisions Net=-1 | Analysts=1
EPS next Year (2026-12-31): EPS=-0.68 | Chg30d=+0.370 | Revisions Net=+1 | Growth EPS=+82.5% | Growth Revenue=+268.8%

Additional Sources for GWH Stock

News: Wall Street Journal | Benzinga | Yahoo Finance
Fund Manager Positions: Dataroma | Stockcircle