Ess Tech, Inc. (GWH) intrinsic value & 10-year financials
Ess Tech, Inc. (GWH) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 7 fiscal years revenue grew 21.0% a year to $1.6M, with an average return on invested capital of 402.0%.
- Graham intrinsic value
- —
- Share price (Oct 18, 2026)
- $0.09
- Market cap
- $1.2M
- Revenue (FY2025)
- $1.6M
- Revenue growth (7-yr CAGR)
- 21.0%
- ROIC (10-yr avg)
- 402.0%
- Free cash flow (FY2025)
- -$53.7M
GWH 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $1.6M | -$63.4M | -$4.34 | -$53.7M | -3626.5% | -545.8% |
| FY2024 | $6.3M | -$86.2M | -$7.32 | -$79.5M | -1426.5% | -173.0% |
| FY2023 | $7.5M | -$77.6M | -$0.48 | -$60.7M | -1139.3% | -81.3% |
| FY2022 | $894.0K | -$78.0M | -$0.51 | -$95.8M | -11800.0% | -203.5% |
| FY2021 | $0 | -$477.1M | -$5.73 | -$54.6M | — | 3940.5% |
| FY2020 | $0 | -$30.4M | -$0.52 | -$17.1M | — | -524.8% |
| FY2019 | — | — | — | — | — | — |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
ESS Tech, Inc. revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.
ESS Tech, Inc. has historically struggled to out-earn its cost of capital, averaging just -9.4% ROIC.
ESS Tech, Inc. capital allocation metrics are N/A for the decade; share count and net debt history are incomplete.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, ESS Tech, Inc. is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-144.16 per share.