Neovolta vs Solid Power
Solid Power is the larger business, with $21.7m of revenue in fiscal 2025 against $13.3m for Neovolta (1.6 times as much). Neovolta grew faster (58.2% against 8.0%). Neovolta kept more of each dollar of sales as profit: a net margin of -161.0% against -429.5%. Solid Power carries less debt relative to equity (0.0% against 2.8%).
| Latest fiscal year | NeovoltaNEOV, 2026 | Solid PowerSLDP, 2025 |
|---|---|---|
| Revenue | $13.3m | $21.7m |
| Revenue growth | 58.2% | 8.0% |
| Net income | −$21.5m | −$93.4m |
| Operating margin | -136.1% | -463.7% |
| Net margin | -161.0% | -429.5% |
| Return on equity | -101.1% | -22.6% |
| Free cash flow | −$16.0m | −$83.6m |
| Cash | $22.2m | $21.6m |
| Total debt | $1.1m | $0 |
| Debt to equity | 2.8% | 0.0% |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | — | $3.6m |
| Employees | — | 230 |
| Market value | $121m | $458m |
| Price vs our value range | — | — |
| Moat score | 30 (Weak) | 17 (Weak) |
| Insider trades, 12 months | 4 buys, 0 sales | 0 buys, 2 sales |