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Energy Vault Holdings (Energy Vault Holdings) Piotroski F-Score : 2 (As of Apr. 29, 2024)


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What is Energy Vault Holdings Piotroski F-Score?

Warning Sign:

Piotroski F-Score of 2 is low, which usually implies poor business operation.

The zones of discrimination were as such:

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Energy Vault Holdings has an F-score of 2. It is a bad or low score, which usually implies poor business operation.

The historical rank and industry rank for Energy Vault Holdings's Piotroski F-Score or its related term are showing as below:

NRGV' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 4   Max: 5
Current: 2

During the past 5 years, the highest Piotroski F-Score of Energy Vault Holdings was 5. The lowest was 2. And the median was 4.


Energy Vault Holdings Piotroski F-Score Historical Data

The historical data trend for Energy Vault Holdings's Piotroski F-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Energy Vault Holdings Piotroski F-Score Chart

Energy Vault Holdings Annual Data
Trend Dec19 Dec20 Dec21 Dec22 Dec23
Piotroski F-Score
N/A N/A N/A 5.00 2.00

Energy Vault Holdings Quarterly Data
Dec19 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
Piotroski F-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 5.00 N/A N/A 4.00 2.00

Competitive Comparison of Energy Vault Holdings's Piotroski F-Score

For the Utilities - Renewable subindustry, Energy Vault Holdings's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Energy Vault Holdings's Piotroski F-Score Distribution in the Utilities - Independent Power Producers Industry

For the Utilities - Independent Power Producers industry and Utilities sector, Energy Vault Holdings's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Energy Vault Holdings's Piotroski F-Score falls into.


How is the Piotroski F-Score calculated?

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Dec23) TTM:Last Year (Dec22) TTM:
Net Income was -31.167 + -26.162 + -18.942 + -22.172 = $-98.4 Mil.
Cash Flow from Operations was -70.772 + -21.052 + -24.226 + 23.395 = $-92.7 Mil.
Revenue was 11.422 + 39.68 + 172.205 + 118.236 = $341.5 Mil.
Gross Profit was 2.419 + 3.947 + 7.148 + 4.017 = $17.5 Mil.
Average Total Assets from the begining of this year (Dec22)
to the end of this year (Dec23) was
(416.713 + 382.461 + 375.335 + 300.537 + 340.753) / 5 = $363.1598 Mil.
Total Assets at the begining of this year (Dec22) was $416.7 Mil.
Long-Term Debt & Capital Lease Obligation was $1.1 Mil.
Total Current Assets was $279.6 Mil.
Total Current Liabilities was $111.9 Mil.
Net Income was -20.079 + -6.178 + -28.765 + -23.277 = $-78.3 Mil.

Revenue was 42.884 + 0.977 + 1.694 + 100.322 = $145.9 Mil.
Gross Profit was 42.884 + 0.406 + 0.071 + 15.936 = $59.3 Mil.
Average Total Assets from the begining of last year (Dec21)
to the end of last year (Dec22) was
(125.294 + 351.534 + 345.52 + 338.549 + 416.713) / 5 = $315.522 Mil.
Total Assets at the begining of last year (Dec21) was $125.3 Mil.
Long-Term Debt & Capital Lease Obligation was $0.7 Mil.
Total Current Assets was $390.1 Mil.
Total Current Liabilities was $125.3 Mil.

*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.

Profitability

Question 1. Return on Assets (ROA)

Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Energy Vault Holdings's current Net Income (TTM) was -98.4. ==> Negative ==> Score 0.

Question 2. Cash Flow Return on Assets (CFROA)

Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Energy Vault Holdings's current Cash Flow from Operations (TTM) was -92.7. ==> Negative ==> Score 0.

Question 3. Change in Return on Assets

Compare this year's return on assets (1) to last year's return on assets.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Dec22)
=-98.443/416.713
=-0.23623693

ROA (Last Year)=Net Income/Total Assets (Dec21)
=-78.299/125.294
=-0.62492218

Energy Vault Holdings's return on assets of this year was -0.23623693. Energy Vault Holdings's return on assets of last year was -0.62492218. ==> This year is higher. ==> Score 1.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

Energy Vault Holdings's current Net Income (TTM) was -98.4. Energy Vault Holdings's current Cash Flow from Operations (TTM) was -92.7. ==> -92.7 > -98.4 ==> CFROA > ROA ==> Score 1.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: Dec23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec22 to Dec23
=1.137/363.1598
=0.00313085

Gearing (Last Year: Dec22)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Dec21 to Dec22
=0.725/315.522
=0.00229778

Energy Vault Holdings's gearing of this year was 0.00313085. Energy Vault Holdings's gearing of last year was 0.00229778. ==> Last year is lower than this year ==> Score 0.

Question 6. Change in Working Capital (Liquidity)

Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.

Score 1 if this year's current ratio is higher, 0 if it's lower

Current Ratio (This Year: Dec23)=Total Current Assets/Total Current Liabilities
=279.582/111.854
=2.49952617

Current Ratio (Last Year: Dec22)=Total Current Assets/Total Current Liabilities
=390.067/125.323
=3.11249332

Energy Vault Holdings's current ratio of this year was 2.49952617. Energy Vault Holdings's current ratio of last year was 3.11249332. ==> Last year's current ratio is higher ==> Score 0.

Question 7. Change in Shares in Issue

Compare the number of shares in issue this year, to the number in issue last year.

Score 0 if there is larger number of shares in issue this year, 1 otherwise.

Energy Vault Holdings's number of shares in issue this year was 145.248. Energy Vault Holdings's number of shares in issue last year was 137.284. ==> There is larger number of shares in issue this year. ==> Score 0.

Efficiency

Question 8. Change in Gross Margin

Compare this year's gross margin (Gross Profit divided by sales) to last year's.

Score 1 if this year's gross margin is higher, 0 if it's lower.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=17.531/341.543
=0.05132882

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=59.297/145.877
=0.40648629

Energy Vault Holdings's gross margin of this year was 0.05132882. Energy Vault Holdings's gross margin of last year was 0.40648629. ==> Last year's gross margin is higher ==> Score 0.

Question 9. Change in asset turnover

Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.

Score 1 if this year's asset turnover ratio is higher, 0 if it's lower

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Dec22)
=341.543/416.713
=0.81961206

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Dec21)
=145.877/125.294
=1.16427762

Energy Vault Holdings's asset turnover of this year was 0.81961206. Energy Vault Holdings's asset turnover of last year was 1.16427762. ==> Last year's asset turnover is higher ==> Score 0.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=0+0+1+1+0+0+0+0+0
=2

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Energy Vault Holdings has an F-score of 2. It is a bad or low score, which usually implies poor business operation.

Energy Vault Holdings  (NYSE:NRGV) Piotroski F-Score Explanation

The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.

He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.

What he found was something that exceeded his most optimistic expectations.

Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.

Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).

Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.


Energy Vault Holdings Piotroski F-Score Related Terms

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Energy Vault Holdings (Energy Vault Holdings) Business Description

Traded in Other Exchanges
Address
4360 Park Terrace Drive, Suite 100, Westlake Village, CA, USA, 91361
Energy Vault Holdings Inc is a grid-scale energy storage company that is driving a faster transition to renewable power by solving the intermittence issues that are inherent to the most prevalent sources of renewable energy, solar and wind. Geographical presence in United States, China and Other. Majority of its revenue comes from U.S.
Executives
Akshay Ladwa officer: Chief Engineering Officer C/O ENERGY VAULT, INC., 4360 PARK TERRACE DRIVE, SUITE 100, WESTLAKE VILLAGE CA 91361
Marco Terruzzin officer: Chief Product Officer 4360 PARK TERRACE, SUITE 100, WESTLAKE VILLAGE CA 91361
Van Gaalen Jan Kees officer: Chief Financial Officer 10205 WESTHEIMER, SUITE 1000, HOUSTON TX 77042
Christopher Wiese officer: Chief Operating Officer 4360 PARK TERRACE DRIVE, SUITE 100, WESTLAKE VILLAGE CA 91361
Goncagul Icoren officer: Chief People Officer 4360 PARK TERRACE DRIVE, SUITE 100, WESTLAKE VILLAGE CA 91361
Josh Mcmorrow officer: Chief Legal Officer 4360 PARK TERRACE DRIVE, SUITE 100, WESTLAKE VILLAGE CA 91361
Laurence Alexander officer: Chief Marketing Officer C/O ROK ENTERTAINMENT GROUP ROK HOUSE, HOLYHEAD ROAD, ALBRIGHTON, WOLVERHAMPTON X0 WV7 3AU
Robert Piconi director, officer: Chief Executive Officer C/O HEALTHCARE AI ACQUISITION, 7 STANLEY GARDENS, LONDON X0 W112ND
Andrea Pedretti officer: Chief Technology Officer 4360 PARK TERRACE DRIVE, SUITE 100, WESTLAKE VILLAGE CA 91361
Theresa M Fariello director C/O ENERGY VAULT, INC., 4360 PARK TERRACE DRIVE, SUITE 100, WESTLAKE VILLAGE CA 91361
William Gross director C/O BILL GROSS' IDEALAB, 130 W UNION STREET, PASADENA CA 91103
David W Hitchcock officer: Interim CFO 67 WHIPPANY ROAD, WHIPPANY NJ 07981
Thomas R Ertel director C/O BLACKBAUD, INC., 2000 DANIEL ISLAND DRIVE, CHARLESTON SC 29492
Idealab Studio, Llc 10 percent owner 130 W. UNION STREET, PASADENA CA 91103
John G Jung officer: President of EVS 4360 PARK TERRACE DRIVE, SUITE 100, WESTLAKE VILLAGE CA 91361

Energy Vault Holdings (Energy Vault Holdings) Headlines

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