Energy Vault Holdings, Inc. balance sheet

At the end of fiscal 2025, Energy Vault Holdings, Inc. had total assets of $313m, total liabilities of $224m and shareholders' equity of $67.5m. It held $58.3m in cash against $99.6m of debt: net debt of $41.3m.

Balance sheet

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Energy Vault Holdings, Inc.: balance sheet, annual
Fiscal year	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMJun 2026
Cash and equivalents	105	203	110	27	58	93
Receivables	0	37	27	15	26	7
Inventory	0	4	0	0	0	0
Total current assets	111	390	280	69	121	182
Total assets	125	417	341	184	313	371
Accounts payable	2	60	21	20	31	15
Deferred revenue (current)	0	49	6	9	7	30
Total current liabilities	7	125	112	55	165	152
Short-term debt	—	0	—	0	57	78
Long-term debt	—	—	—	0	38	165
Total debt	0	0	0	0	100	264
Total liabilities	11	129	117	58	224	338
Shareholders' equity	−69	288	224	126	67	7
Non-controlling interests and other (assets − liabilities − equity)	183	—	—	—	21	26
Net debt (negative = net cash)	−105	−203	−110	−27	41	171
Shares outstanding	123m	139m	147m	153m	169m	180m

US$ millions unless shown otherwise. Fiscal quarters.

Energy Vault Holdings, Inc.: balance sheet, quarterly
Quarter	2024 Q3Sept 2024	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026
Receivables	2	15	4	5	2	26	5	7
Inventory	0	0	0	—	7	0	0	0
Total current assets	132	69	74	95	103	121	104	182
Total assets	253	184	217	249	282	313	298	371
Accounts payable	39	20	25	36	36	31	9	15
Deferred revenue (current)	10	9	11	66	64	7	15	30
Total current liabilities	70	55	86	144	164	165	72	152
Short-term debt	—	0	13	23	29	57	21	78
Long-term debt	—	0	13	10	32	38	151	165
Total debt	—	0	26	33	60	95	172	243
Total liabilities	74	58	103	159	201	224	244	338
Shareholders' equity	179	126	115	90	81	67	30	7
Non-controlling interests and other (assets − liabilities − equity)	—	—	—	—	—	21	23	26
Shares outstanding	152m	153m	154m	161m	167m	169m	174m	180m

Balances at each fiscal year end (quarter end in the quarterly view). Total debt is short- plus long-term borrowings, including lease debt where the company reports it within debt. Where assets do not equal liabilities plus shareholders' equity, the difference (non-controlling interests, redeemable preferred shares) is shown on its own line.

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Figures from Energy Vault Holdings, Inc.'s SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Energy Vault Holdings, Inc.