NPWR Industrials

NET Power Inc.

$0.87+1.88%

Price as of close on Nov 3, 2026 · Financials updated Oct 10, 2026

Basics

Sector: Industrials
Industry: Specialty Industrial Machinery
Country: United States
Market cap: 76.6M USD
Enterprise value: -1.8M USD
Full-time employees: 54

Overall health

Drawback: growing more slowly than most peersgrowing more slowly than peers
Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings
Drawback: its share price swings more than most peers’ (beta 1.17 vs a peer median of 0.64)bigger price swings (beta 1.17 vs peers 0.64)
Not enough data: profitability

Would rank #1,723 of 2,308 fully scored industrials companies (bottom 26%)

Partial overall score — 3/4 categories available.

See how it ranks against its peers

Worth knowing

Cash exceeds market value plus debt. Its cash is worth more than its market value plus debt.
NET Power's cash is larger than its market value and debt combined (enterprise value at or below zero). The market is valuing the operating business at nothing or less, which is rare.NET Power's cash is larger than its market value and debt combined. The market is valuing the operating business at nothing or less, which is rare.
Not profitable yet. Reported a loss in the 12 months to June 2026.
NET Power reported a net loss over the last twelve months, so earnings-based measures can't show it as cheap.
Revenue is falling. Revenue fell 100% in the 12 months to June 2026 vs the 12 months before.
NET Power's revenue fell 100% in the 12 months to June 2026 vs the 12 months before.
Little borrowing. Debt is 0.01× equity vs a peer median of 0.4×.Debt is 0.01× equity vs peers 0.4×.
NET Power has among the least debt in its peer group relative to shareholders' equity.

StockQuotient Score

38/ 100▲ 2 since Oct 27 close

Oct 5 29 → Nov 4 38 (+9)

Valuation

Is the price right?

16/100

Weak▲ 7 since Oct 27 close

2/3 inputs reported · Partial data

Since last quarter: No major changeValuation also moves with the share price every day.

Why it changed since the Oct 27, 2026 close: Score 9 → 16

Company's reported figures updated-12
Peer companies moved+19

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Weaker than most peers on:

▼ Earnings yield
▼ FCF yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield-680.9%

SEC filings · 12 months to Jun 2026Negative (a loss or cash outflow), so it counts as zero whatever the share price30% base weight · Z-score -1.28Sector median: 0.0377 · MAD: 0.0294

EBITDA yieldUnavailable

Cash exceeds market value plus debt, so EBITDA yield is not meaningful and is left out · no sector data, so not countedNot counted · remaining weights rescaledSector median: 0.0695 · MAD: 0.0425

Free cash flow yield-217.8%

SEC filings · 12 months to Jun 2026 · operating cash flow − capital spendingNegative (a loss or cash outflow), so it counts as zero whatever the share price20% base weight · Z-score -1.00Sector median: 0.0370 · MAD: 0.0370

Other data (not scored)

Book yield109.1%

SEC filings · latest balance sheetReported valueInformational · 0% composite weightSector median: 0.5027 · MAD: 0.2823

Growth

Is it growing?

6/100

Weak

2/3 inputs reported · Partial data

Since last quarter: No major change

Why

Weaker than most peers on:

▼ Revenue growth
▼ EPS growth

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growthUnavailable

The loss per share widened33% base weight · Z-score -1.31Sector median: 0.0709 · MAD: 0.2481

3-year revenue growthUnavailable

Missing · left out of the score · no sector data, so not countedNot counted · remaining weights rescaledSector median: 0.0421 · MAD: 0.0625

Revenue growth-100.0%

SEC filings · 12 months to Jun 2026Outlier capped at sector 5th/95th percentile33% base weight · Z-score -3.66Sector median: 0.0439 · MAD: 0.0766

Profitability

Does it earn well?

Insufficient data

Insufficient data: 1 of 3 inputs reported (at least 2 needed). We leave it blank rather than fill the gap with a made-up middle value.

Risk

Debt, liquidity, price swings

Lower

Lower relative risk

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Stronger than most peers on:

▲ Current ratio
▲ Debt / equity

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta1.17

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score -1.90Sector median: 0.6440 · MAD: 0.2745

Current ratio17.80×

SEC filings · latest balance sheetOutlier capped at sector 5th/95th percentile33% base weight · Z-score 6.75Sector median: 1.6180 · MAD: 0.5360

Debt / equity0.01×

Yahoo Finance fallback · no standard SEC debt tagReported value33% base weight · Z-score 1.16Sector median: 0.4019 · MAD: 0.3378

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about NET Power

Is NET Power getting weaker?: Its latest SEC filing (Aug 13, 2026) showed no major changes. Its overall score is 38/100, up 2 since Oct 28, 2026.
How is NET Power valued vs its peers?: Priced higher than most peers relative to what it earns. Valuation scores 16/100 against 2,459 industrials peers. Earnings yield -680.9% vs a peer median of 3.8% (weaker than 100% of peers).Earnings yield -680.9% vs peers 3.8% (weaker than 100% of peers).
Is NET Power growing?: More slowly than most of its peers. Growth scores 6/100 against 2,459 industrials peers. Revenue growth -100.0% vs a peer median of 4.4% (weaker than 100% of peers).Revenue growth -100.0% vs peers 4.4% (weaker than 100% of peers).
How profitable is NET Power?: Insufficient data: 1 of 3 inputs reported (at least 2 needed).
How risky is NET Power?: Lower risk relative to 2,459 industrials peers, judged on debt, liquidity and share-price swings. Current ratio 17.80× vs a peer median of 1.62× (stronger than 95% of peers).Current ratio 17.80× vs peers 1.62× (stronger than 95% of peers). Beta 1.17 vs a peer median of 0.64 (weaker than 83% of peers).Beta 1.17 vs peers 0.64 (weaker than 83% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Dec 31, 2025 · filed Aug 13, 2026 · compared with the quarter ended Sep 30, 2025

No major changes

	Previous quarter	Latest quarter	Change
Revenue (12 months)	0 USD	0 USD	—
Net income (12 months)	−593.3M USD	−521.3M USD	−12.1%
Free cash flow (12 months)	−150.2M USD	−166.7M USD	+11.0%
Cash	229.3M USD	117.9M USD	−48.6%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Industry: Specialty Industrial Machinery · 42 companies

Valuations in Specialty Industrial Machinery are above their usual range since 2016.

75% of months since 2016 were valued lower than now.
46% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values +21% and earnings +11% (medians): prices and earnings moved broadly together.
Median price-to-sales is +32% vs the whole market, against a usual −5%.

2016Shaded: most expensive fifth of its range2026

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY 2022	FY 2024	FY 2025	Change
Gross margin	52.6%	87.6%	—	—
Operating margin	-8625.0%	-72528.4%	—	—
Net margin	-9444.5%	-19676.4%	—	—
Return on assets (ROA)	-70.1%	-2.1%	-96.5%	▼ 94 pts
Return on equity (ROE)	—	-7.5%	-283.8%	▼ 276 pts
Free cash flow margin	-2887.1%	-40120.0%	—	—
Current ratio	0.89×	28.65×	7.24×	▼ 75%

NPWR price history

Price history is added with the daily price update and will appear after the next one.

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Bringing the fundamentals into focus…

Overall health

Drawback: growing more slowly than most peersgrowing more slowly than peers

Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings

Drawback: its share price swings more than most peers’ (beta 1.17 vs a peer median of 0.64)bigger price swings (beta 1.17 vs peers 0.64)

Not enough data: profitability

Would rank #1,723 of 2,308 fully scored industrials companies (bottom 26%)

Partial overall score — 3/4 categories available.

See how it ranks against its peers

Worth knowing

Cash exceeds market value plus debt. Its cash is worth more than its market value plus debt.

NET Power's cash is larger than its market value and debt combined (enterprise value at or below zero). The market is valuing the operating business at nothing or less, which is rare.NET Power's cash is larger than its market value and debt combined. The market is valuing the operating business at nothing or less, which is rare.

Not profitable yet. Reported a loss in the 12 months to June 2026.

NET Power reported a net loss over the last twelve months, so earnings-based measures can't show it as cheap.

Revenue is falling. Revenue fell 100% in the 12 months to June 2026 vs the 12 months before.

NET Power's revenue fell 100% in the 12 months to June 2026 vs the 12 months before.

Little borrowing. Debt is 0.01× equity vs a peer median of 0.4×.Debt is 0.01× equity vs peers 0.4×.

NET Power has among the least debt in its peer group relative to shareholders' equity.

Questions investors ask about NET Power

Is NET Power getting weaker?

Its latest SEC filing (Aug 13, 2026) showed no major changes. Its overall score is 38/100, up 2 since Oct 28, 2026.

How is NET Power valued vs its peers?

Priced higher than most peers relative to what it earns. Valuation scores 16/100 against 2,459 industrials peers. Earnings yield -680.9% vs a peer median of 3.8% (weaker than 100% of peers).Earnings yield -680.9% vs peers 3.8% (weaker than 100% of peers).

Is NET Power growing?

More slowly than most of its peers. Growth scores 6/100 against 2,459 industrials peers. Revenue growth -100.0% vs a peer median of 4.4% (weaker than 100% of peers).Revenue growth -100.0% vs peers 4.4% (weaker than 100% of peers).

How profitable is NET Power?

Insufficient data: 1 of 3 inputs reported (at least 2 needed).

How risky is NET Power?

Lower risk relative to 2,459 industrials peers, judged on debt, liquidity and share-price swings. Current ratio 17.80× vs a peer median of 1.62× (stronger than 95% of peers).Current ratio 17.80× vs peers 1.62× (stronger than 95% of peers). Beta 1.17 vs a peer median of 0.64 (weaker than 83% of peers).Beta 1.17 vs peers 0.64 (weaker than 83% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

0 USD

0 USD

—

Net income (12 months)

−593.3M USD

−521.3M USD

−12.1%

Free cash flow (12 months)

−150.2M USD

−166.7M USD

+11.0%

Cash

229.3M USD

117.9M USD

−48.6%

Key ratios

FY 2022

FY 2024

FY 2025

Change

Gross margin

52.6%

87.6%

—

Operating margin

-8625.0%

-72528.4%

—

Net margin

-9444.5%

-19676.4%

—

Return on assets (ROA)

-70.1%

-2.1%

-96.5%

▼ 94 pts

Return on equity (ROE)

—

-7.5%

-283.8%

▼ 276 pts

Free cash flow margin

-2887.1%

-40120.0%

—

Current ratio

0.89×

28.65×

7.24×

▼ 75%