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Energy storage (batteries)

The 16 companies in this industry listed on the NYSE and Nasdaq are worth $9.1 bn combined; the largest are EnerSys (ENS), Fluence Energy (FLNC) and Eos Energy Enterprises, Inc. (EOSE). For each one: what it does, revenue, margin, free cash flow over the last five years and a score from 0 to 10.

Data as of October 2026

Clear leader
16 companies value 9.1 bn revenue 7.6 bn margin -7.7% free cash flow -0.1 bn avg. score 1.1
ENS holds 66.8% of the group's value, 5.6x the runner-up · FLNC leads the industry without being the largest
Rank Ticker Company Share Value Revenue Margin FCF 5 years FCF/px Yield What it does · why it is here
1 ENS EnerSys
United States · score 7.2
67% 6.1 bn 3.8 bn 9.3% 0.7 bn 11.8% 0.6% Industrial batteries and stored energy systems · Leader in industrial and backup batteries
2 FLNC Fluence Energy
United States · score 0.2
12% 1.1 bn 2.6 bn -3.1% -0.1 bn -10.7% — Battery energy storage systems · Leader in battery storage systems for power grids
3 EOSE Eos Energy Enterprises, Inc.
United States · score 0.0
7% 0.7 bn 0.2 bn -246.8% -0.4 bn -63.8% — Long-duration zinc batteries for energy storage · Pennsylvania — revenue of $214m
4 NRGV Energy Vault Holdings, Inc.
United States · score 0.0
6% 0.5 bn 0.2 bn -48.6% -0.1 bn -28.7% — Energy storage projects and monitoring software · California — revenue of $226m
5 ELVA Electrovaya Inc.
Canada · score 2.1
3% 0.3 bn 0.1 bn 6.1% -0.0 bn -3.2% — Lithium-ion batteries for electric forklifts, robots, airport ground vehicles and energy storage · Canada — revenue of $72m
6 MVST Microvast Holdings, Inc.
United States · score 1.7
2% 0.2 bn 0.4 bn 13.9% -0.0 bn -15.7% — Batteries for electric commercial vehicles and energy storage · Texas — revenue of $368m
7 KULR KULR Technology Group, Inc.
United States · score 0.0
1% 0.1 bn 0.0 bn -635.1% -0.0 bn -53.0% — Advanced battery systems for space, e-mobility and data centers · Texas — revenue of $16m
8 NEOV NeoVolta Inc.
United States · score 0.0
1% 0.1 bn 0.0 bn -161.0% -0.0 bn -11.9% — Residential and commercial energy storage systems · California — revenue of $13m
9 NMAD NOMAD POWER SOLUTIONS, INC.
United States · score 0.1
1% 0.1 bn — — -0.0 bn -9.1% — Transportable battery storage systems for AI energy infrastructure, former biopharmaceutical · Florida
10 STEM STEM, INC.
United States · score 2.0
0% 0.0 bn 0.1 bn -49.4% 0.0 bn 35.5% — Software and energy storage for the energy transition · Texas — revenue of $148m
11 DFLI Dragonfly Energy Holdings Corp.
United States · score 0.0
0% 0.0 bn 0.1 bn -129.4% -0.0 bn -540.2% — Deep-cycle lithium-ion batteries for RVs and marine · Nevada — revenue of $52m
12 FLUX Flux Power Holdings, Inc.
United States · score 0.0
0% 0.0 bn 0.0 bn -17.7% -0.0 bn -73.9% — Lithium-ion energy storage for forklifts and airports · California — revenue of $42m
13 TURB Turbo Energy, S.A.
Spain · score 1.2
0% 0.0 bn 0.0 bn 1.0% 0.0 bn -50.4% — Solar energy storage and management, from Spain · Spain — revenue of $33m
14 XPON Expion Energy, Inc.
United States · score 0.0
0% 0.0 bn 0.0 bn -82.3% -0.0 bn -198.0% — Lithium batteries for forklifts and material handling · Oregon — revenue of $8m
15 ELPW Elong Power Holding Ltd.
China · score 3.3
— — 0.0 bn 356.4% -0.0 bn — — High-power batteries and energy storage · China — revenue of $5m
16 BRNX BRENX LTD.
Israel · score 0.2
— — 0.0 bn -32x -0.0 bn — — Thermal energy storage, from Israel · Israel

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What this is. A catalogue, not a guide. Every industry with stocks listed on the NYSE or NASDAQ, the companies contending for its leadership, what each one does according to its own annual report, and the balance sheet it filed with the SEC.

The score runs from 0 to 10 and compares each company with every other one in the almanac on cash generation, profitability, debt, dividends and consistency over the last five years. The higher it is, the better the company fares in that comparison. Curious how much each part weighs? Ask at the bottom of the page.

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