Business Wire·Jun 29, 2026
ESS Added to Russell Microcap® IndexWILSONVILLE, Ore.--(BUSINESS WIRE)--ESS Added to Russell Microcap® Index.
ESS Tech, Inc.(GWH)Earnings, Financials & Key Ratios
GWH•NYSE
$0.88
Price updated Jul 6, 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 Price & Volume
ESS Tech, Inc. (GWH) stock price & volume — 10-year historical chart
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Persistent Operational Burn Threatens Long-term Solvency
Investment Thesis • Updated 2026Q1
VerdictNegative: The company's rapid depletion of resources
Growth:Contracting
Profitability:Negative
Financial:Vulnerable
Cash Flow:Burning
Primary Risk:Critical liquidity and dilution
Key Thesis Takeaways
- ESS Tech faces a precarious outlook as it struggles to transition from a project-based pilot model to scalable commercial production, evidenced by a 74.85% year-over-year revenue decline.
- The company's inability to absorb fixed manufacturing overhead has resulted in a massive -$861.7M retained earnings deficit, severely eroding shareholder equity.
- Investors should remain cautious as the current $14.4M cash balance and consistent negative free cash flow suggest an urgent need for further dilutive financing to sustain operations.
Verdict Logic
reflected in the decline of equity from $103.4M to $9.4M over the observed period, indicates a high risk of insolvency without immediate capital intervention.
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 →
Latest GWH News
Recent stock market news and headlines for ESS Tech, Inc. (GWH)
GuruFocus·Jun 23, 2026
ESS to Accelerate Sodium-Ion Battery Energy Storage System Development Following Surging Customer InterestESS Tech, Inc. (NYSE: GWH) (âESSâ or the âcompanyâ), a leading provider of non-lithium energy storage solutions, today announced strong early customer e
Business Wire·Jun 23, 2026
ESS to Accelerate Sodium-Ion Battery Energy Storage System Development Following Surging Customer InterestWILSONVILLE, Ore.--(BUSINESS WIRE)--ESS to Accelerate Sodium-Ion Battery Energy Storage System Development Following Surging Customer Interest.
Peers Comparison
Key metrics vs top competitors for ESS Tech, Inc. (GWH)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $0.88 | $11.08M | -0.20 | -74.85% | -4007.58% | -338.33% | — | |
| $0.82 | $14.36M | -2.05 | 9.22% | -12.48% | -737.52% | — | |
| $4.12 | $712.66M | -6.34 | 340.86% | -52.97% | -146.8% | — | |
| $7.92 | $67.47M | -0.86 | 8.08% | 93.33% | — | — | |
| $1.17 | $389.79M | -13.00 | 12.56% | -11.52% | -10.76% | — | |
| $295.05 | $70.93B | -797.43 | 37.33% | 0.25% | 0.79% | — |
Compare GWH vs Peers
ESS Tech, Inc. (GWH) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
GWH SEC Filings & Documents
ESS Tech, Inc. (GWH) SEC filings — annual & quarterly reports (10-K, 10-Q)
8-K Announcements
6Material company update
May 7, 2026·SEC
Material company update
Apr 15, 2026·SEC
Material company update
Mar 5, 2026·SEC
10-K Annual Reports
310-Q Quarterly Reports
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GWH Frequently Asked Questions
ESS Tech, Inc. (GWH) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
What is ESS Tech, Inc.'s revenue?
ESS Tech, Inc. (GWH) reported $1.1M in revenue for fiscal year 2025.
How fast is ESS Tech, Inc. growing?
ESS Tech, Inc. (GWH) saw revenue decline by 74.9% over the past year.
Is GWH profitable?
ESS Tech, Inc. (GWH) reported a net loss of $61.3M for fiscal year 2025.
Dividend & Returns
What is GWH's return on equity?
ESS Tech, Inc. (GWH) has a return on equity (ROE) of -338.3%. Negative ROE indicates the company is unprofitable.
What is ESS Tech, Inc.'s free cash flow?
ESS Tech, Inc. (GWH) had negative free cash flow of $49.1M in fiscal year 2025, likely due to heavy capital investments.