Energy Vault Holdings, Inc. (NRGV) vs ReNew Energy Global PLC (RNW)

Energy Vault Holdings, Inc. and ReNew Energy Global PLC are both Utilities Renewable companies. ReNew Energy Global PLC is the larger, with a market value of $2.5B against $781.9M — 3.2× the size. Energy Vault Holdings, Inc. has negative trailing earnings, so its P/E is not meaningful; ReNew Energy Global PLC trades at 21.7×. Energy Vault Holdings, Inc. grew revenue faster over the last twelve months: 336.8% against 11.9%. ReNew Energy Global PLC has the higher net margin (6.62% vs −48.6%) and the higher return on invested capital (6.79% vs −32.5%). Across the 17 metrics below, ReNew Energy Global PLC leads on 13 and Energy Vault Holdings, Inc. on 4.

Valuation

Metric NRGV RNW Utilities Renewable median
P/E n/m 21.75 18.99
P/S 3.47 1.53 2.58
P/B 114.29 1.54 1.38
Price to free cash flow n/m n/m 5.71
EV/EBITDA n/m 8.27 16.32
EV/Sales 4.07 6.00 5.43
Earnings yield (15.00%) 4.60% (12.46%)
Free cash flow yield (18.47%) (11.03%) (21.58%)

Profitability

Metric NRGV RNW Utilities Renewable median
Gross margin 22.47% 84.06% 41.45%
Operating margin (32.84%) 59.41% 0.00%
Net margin (48.58%) 6.62% (0.87%)
Free cash flow margin (64.08%) (16.86%) (9.23%)
Return on equity (225.87%) 6.73% 0.00%
Return on assets (35.43%) 0.95% (2.61%)
Return on invested capital (32.53%) 6.79% 0.00%

Growth

Metric NRGV RNW Utilities Renewable median
Revenue growth (TTM) 336.76% 11.87% 10.25%
EPS growth (last fiscal year) 28.57% 123.08% —
Revenue growth, 5-year CAGR — 15.47% 6.29%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric NRGV RNW Utilities Renewable median
Debt to equity 35.44 5.15 0.59
Current ratio 1.19 0.43 1.16
Net debt to EBITDA (0.46) 6.64 2.66

Dividend

Metric NRGV RNW Utilities Renewable median
Dividend yield — — 5.61%
Payout ratio 0.00 0.00 0.00

Size

Metric NRGV RNW Utilities Renewable median
Market cap 781.91m 2.50b 239.67m

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