EnerSys (ENS)
Market Price (12/29/2025): $151.01 | Market Cap: $5.7 BilSector: Industrials | Industry: Electrical Components & Equipment
EnerSys (ENS)
Market Price (12/29/2025): $151.01Market Cap: $5.7 BilSector: IndustrialsIndustry: Electrical Components & Equipment
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.6%, FCF Yield is 5.8% | Trading close to highsDist 52W High is -0.1%, Dist 3Y High is -0.1% | Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 67% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 12% | Key risksENS key risks include [1] volatile raw material costs and supply chain disruptions, Show more. | |
| Low stock price volatilityVol 12M is 35% | ||
| Megatrend and thematic driversMegatrends include Battery Technology & Metals, Renewable Energy Transition, and Automation & Robotics. Themes include Advanced Battery Components, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.6%, FCF Yield is 5.8% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 12% |
| Low stock price volatilityVol 12M is 35% |
| Megatrend and thematic driversMegatrends include Battery Technology & Metals, Renewable Energy Transition, and Automation & Robotics. Themes include Advanced Battery Components, Show more. |
| Trading close to highsDist 52W High is -0.1%, Dist 3Y High is -0.1% |
| Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 67% |
| Key risksENS key risks include [1] volatile raw material costs and supply chain disruptions, Show more. |
Why The Stock Moved
Qualitative Assessment
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Here are the key points for why EnerSys (ENS) stock moved by 47.7% for the approximate time period from August 31, 2025, to today:
1. Strong Fiscal Year 2025 Performance and Positive Fiscal Year 2026 Outlook.EnerSys concluded its fiscal year 2025 with robust financial results, reporting record diluted earnings per share (EPS) of $8.99, an increase of 38%, and record adjusted diluted EPS of $10.15, up 22%. The company also achieved a 7% increase in net sales for the fourth quarter of fiscal year 2025. Furthermore, EnerSys's second quarter fiscal year 2026 results showed adjusted diluted EPS increasing by 21%, indicating continued positive momentum.
2. Significant Benefits from Inflation Reduction Act (IRA) Tax Credits.The company experienced substantial financial advantages from the Inflation Reduction Act's IRC 45X tax credits, which significantly boosted gross margins and adjusted EPS throughout fiscal year 2025. These benefits, which were incrementally announced in 2024, provided a strong tailwind to the company's profitability.
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1. Strong Fiscal Year 2025 Performance and Positive Fiscal Year 2026 Outlook.EnerSys concluded its fiscal year 2025 with robust financial results, reporting record diluted earnings per share (EPS) of $8.99, an increase of 38%, and record adjusted diluted EPS of $10.15, up 22%. The company also achieved a 7% increase in net sales for the fourth quarter of fiscal year 2025. Furthermore, EnerSys's second quarter fiscal year 2026 results showed adjusted diluted EPS increasing by 21%, indicating continued positive momentum.
2. Significant Benefits from Inflation Reduction Act (IRA) Tax Credits.The company experienced substantial financial advantages from the Inflation Reduction Act's IRC 45X tax credits, which significantly boosted gross margins and adjusted EPS throughout fiscal year 2025. These benefits, which were incrementally announced in 2024, provided a strong tailwind to the company's profitability.
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Stock Movement Drivers
Fundamental Drivers
The 35.5% change in ENS stock from 9/28/2025 to 12/28/2025 was primarily driven by a 36.1% change in the company's P/E Multiple.| 9282025 | 12282025 | Change | |
|---|---|---|---|
| Stock Price ($) | 111.45 | 150.99 | 35.48% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 3657.69 | 3725.30 | 1.85% |
| Net Income Margin (%) | 9.60% | 9.05% | -5.69% |
| P/E Multiple | 12.32 | 16.76 | 36.09% |
| Shares Outstanding (Mil) | 38.80 | 37.44 | 3.51% |
| Cumulative Contribution | 35.32% |
Market Drivers
9/28/2025 to 12/28/2025| Return | Correlation | |
|---|---|---|
| ENS | 35.5% | |
| Market (SPY) | 4.3% | 64.5% |
| Sector (XLI) | 3.0% | 68.6% |
Fundamental Drivers
The 74.8% change in ENS stock from 6/29/2025 to 12/28/2025 was primarily driven by a 79.2% change in the company's P/E Multiple.| 6292025 | 12282025 | Change | |
|---|---|---|---|
| Stock Price ($) | 86.40 | 150.99 | 74.76% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 3617.58 | 3725.30 | 2.98% |
| Net Income Margin (%) | 10.05% | 9.05% | -9.96% |
| P/E Multiple | 9.35 | 16.76 | 79.24% |
| Shares Outstanding (Mil) | 39.37 | 37.44 | 4.91% |
| Cumulative Contribution | 74.34% |
Market Drivers
6/29/2025 to 12/28/2025| Return | Correlation | |
|---|---|---|
| ENS | 74.8% | |
| Market (SPY) | 12.6% | 64.1% |
| Sector (XLI) | 7.5% | 69.8% |
Fundamental Drivers
The 64.5% change in ENS stock from 12/28/2024 to 12/28/2025 was primarily driven by a 31.6% change in the company's P/E Multiple.| 12282024 | 12282025 | Change | |
|---|---|---|---|
| Stock Price ($) | 91.81 | 150.99 | 64.46% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 3508.85 | 3725.30 | 6.17% |
| Net Income Margin (%) | 8.25% | 9.05% | 9.74% |
| P/E Multiple | 12.74 | 16.76 | 31.57% |
| Shares Outstanding (Mil) | 40.17 | 37.44 | 6.79% |
| Cumulative Contribution | 63.70% |
Market Drivers
12/28/2024 to 12/28/2025| Return | Correlation | |
|---|---|---|
| ENS | 64.5% | |
| Market (SPY) | 17.0% | 63.7% |
| Sector (XLI) | 19.2% | 67.1% |
Fundamental Drivers
The 108.6% change in ENS stock from 12/29/2022 to 12/28/2025 was primarily driven by a 147.5% change in the company's Net Income Margin (%).| 12292022 | 12282025 | Change | |
|---|---|---|---|
| Stock Price ($) | 72.40 | 150.99 | 108.55% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 3549.44 | 3725.30 | 4.95% |
| Net Income Margin (%) | 3.66% | 9.05% | 147.54% |
| P/E Multiple | 22.72 | 16.76 | -26.24% |
| Shares Outstanding (Mil) | 40.74 | 37.44 | 8.11% |
| Cumulative Contribution | 107.18% |
Market Drivers
12/29/2023 to 12/28/2025| Return | Correlation | |
|---|---|---|
| ENS | 52.4% | |
| Market (SPY) | 48.4% | 54.1% |
| Sector (XLI) | 41.4% | 60.1% |
Price Returns Compared
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| ENS Return | 12% | -4% | -6% | 38% | -8% | 64% | 112% |
| Peers Return | 16% | 38% | -12% | 21% | 26% | 16% | 150% |
| S&P 500 Return | 16% | 27% | -19% | 24% | 23% | 18% | 114% |
Monthly Win Rates [3] | |||||||
| ENS Win Rate | 67% | 67% | 42% | 50% | 33% | 75% | |
| Peers Win Rate | 52% | 65% | 42% | 68% | 57% | 52% | |
| S&P 500 Win Rate | 58% | 75% | 42% | 67% | 75% | 73% | |
Max Drawdowns [4] | |||||||
| ENS Max Drawdown | -49% | -12% | -27% | -2% | -13% | -15% | |
| Peers Max Drawdown | -34% | -5% | -26% | -7% | -9% | -23% | |
| S&P 500 Max Drawdown | -31% | -1% | -25% | -1% | -2% | -15% | |
[1] Cumulative total returns since the beginning of 2020
[2] Peers: HPQ, HPE, IBM, CSCO, AAPL. See ENS Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/26/2025 (YTD)
How Low Can It Go
| Event | ENS | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -44.2% | -25.4% |
| % Gain to Breakeven | 79.1% | 34.1% |
| Time to Breakeven | 323 days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -50.9% | -33.9% |
| % Gain to Breakeven | 103.8% | 51.3% |
| Time to Breakeven | 236 days | 148 days |
| 2018 Correction | ||
| % Loss | -39.3% | -19.8% |
| % Gain to Breakeven | 64.6% | 24.7% |
| Time to Breakeven | 502 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -84.0% | -56.8% |
| % Gain to Breakeven | 523.2% | 131.3% |
| Time to Breakeven | 813 days | 1,480 days |
Compare to HPQ, HPE, IBM, CSCO, AAPL
In The Past
EnerSys's stock fell -44.2% during the 2022 Inflation Shock from a high on 3/17/2021. A -44.2% loss requires a 79.1% gain to breakeven.
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EnerSys provides various stored energy solutions for industrial applications worldwide. It operates in three segments: Energy Systems, Motive Power, and Specialty. The company offers uninterruptible power systems applications for computer and computer-controlled systems, as well as telecommunications systems; switchgear and electrical control systems used in industrial facilities and electric utilities, large-scale energy storage, and energy pipelines; integrated power solutions and services to broadband, telecom, renewable, and industrial customers; and thermally managed cabinets and enclosures for electronic equipment and batteries. It also provides motive power products that are used to provide power for electric industrial forklifts used in manufacturing, warehousing, and other material handling applications, as well as mining equipment, diesel locomotive starting, and other rail equipment. In addition, the company offers specialty batteries for starting, lighting, and ignition applications in transportation; and energy solutions for satellites, military aircraft, submarines, ships, and other tactical vehicles, as well as medical and security systems. Further, it provides battery chargers, power equipment, battery accessories, and outdoor cabinet enclosures, as well as related after-market and customer-support services for industrial batteries. The company sells its products through a network of distributors, independent representatives, and internal sales forces. The company was formerly known as Yuasa, Inc. and changed its name to EnerSys in January 2001. EnerSys was incorporated in 2000 and is headquartered in Reading, Pennsylvania.
AI Analysis | Feedback
Here are 1-3 brief analogies for EnerSys:- EnerSys is like the Duracell or Energizer for industrial equipment, data centers, and telecommunications infrastructure.
- EnerSys is like the Eaton or Schneider Electric of industrial batteries and power storage solutions.
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- Motive Power Batteries: Advanced lead-acid (Thin Plate Pure Lead, flooded) and lithium-ion batteries used to power material handling equipment like forklifts and automated guided vehicles.
- Reserve Power Batteries: Lead-acid (VRLA, flooded) and lithium-ion batteries providing backup power for telecommunications, data centers, utilities, and other critical infrastructure.
- Specialty Batteries: High-performance batteries designed for demanding applications in aerospace, defense, medical devices, and heavy-duty vehicles.
- Battery Chargers and Power Systems: A range of high-frequency chargers, DC power systems, rectifiers, and inverters that complement their battery solutions and provide comprehensive energy management.
- Integrated Power Solutions: Complete systems combining batteries, chargers, power electronics, and battery management software for various industrial applications.
- Battery Services: Comprehensive services including installation, preventative maintenance, monitoring, repair, and recycling programs for their battery and power system offerings.
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EnerSys (ENS) Major Customers
EnerSys (symbol: ENS) primarily sells its advanced stored energy solutions to other businesses (B2B) across a wide range of industrial applications globally. EnerSys explicitly states in its annual reports (e.g., 10-K filings) that it has a highly diversified customer base, and **no single customer accounted for 10% or more of its net sales** in recent fiscal years. Therefore, specific names of individual "major customer companies" that would typically be disclosed due to revenue concentration are not publicly identified. Instead, EnerSys serves a broad array of companies within the following key sectors, categorized by its main segments:- Motive Power Segment Customers: These customers primarily utilize batteries, chargers, and accessories for industrial lift trucks (forklifts), automated guided vehicles (AGVs), ground support equipment, mining equipment, and commercial vehicles. They operate across various industries, including:
- Manufacturing companies
- Distribution and logistics companies
- Retail chains with large warehousing operations
- Food and beverage companies
- Agriculture businesses
- Reserve Power Segment Customers: These customers require highly reliable stationary battery solutions for backup power in critical applications. This segment includes:
- Telecommunications companies
- Utilities (electricity generation and distribution)
- Broadband and cable service providers
- Data centers
- Original Equipment Manufacturers (OEMs) that integrate EnerSys batteries into their products, such as uninterruptible power systems (UPS) manufacturers and switchgear manufacturers.
- Specialty Segment Customers: This segment encompasses customers with specialized power needs for unique applications, including:
- Defense contractors and military organizations (for military aircraft, submarines, and tactical vehicles)
- Medical equipment manufacturers
- Commercial aircraft manufacturers and operators
- Satellite operators
- Other niche industrial applications
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Shawn O'Connell President and Chief Executive Officer Shawn O'Connell has served as President and Chief Executive Officer of EnerSys since May 23, 2025. Prior to this role, he was President and Chief Operating Officer from November 2024 to May 2025. He has held various other senior leadership positions within EnerSys since joining the company in 2011, including President, Energy Systems Global, President, Motive Power Global, and President, Motive Power Americas. Mr. O'Connell began his career in the energy storage industry in 1997 and was first involved with EnerSys as an outside channel partner in 2003. He serves as a Director of several EnerSys subsidiaries, is Vice Chairman of the Board of Directors of Battery Council International, and is on the Board of Directors for the Association of European Automotive and Industrial Battery Manufacturers (EUROBAT). He holds a Master of Business Administration in International Business from the University of Redlands, CA, and a Bachelor of Arts in English Literature from California State University, San Bernardino. He is also a veteran of the U.S. Army's 82nd Airborne Division. Andrea J. Funk Executive Vice President and Chief Financial Officer Andrea (Andi) Funk has served as Executive Vice President and Chief Financial Officer of EnerSys since April 1, 2022. She joined EnerSys in December 2018 as Vice President Finance - Americas. Before joining EnerSys, Ms. Funk served as Chief Executive Officer for Cambridge Lee Industries LLC, an international manufacturing and distribution company, from 2013 to 2018, and as its Chief Financial Officer and Treasurer from 2011 to 2013. She is an independent director of Crown Holdings (NYSE: CCK) and serves on the Board of Directors of TouchPoint, Inc. Ms. Funk holds a Master of Business Administration degree from The Wharton School of Business and a Bachelor of Science degree in accounting from Villanova University, and was a certified public accountant. Her diverse experience includes leading business development, manufacturing, corporate finance (including restructuring loans and taking a company out of Chapter 11 bankruptcy), and C-suite leadership. Joern Tinnemeyer Chief Technology Officer Joern Tinnemeyer has been the Chief Technology Officer of EnerSys since 2017. He also serves as the Chairman at NaatBatt. Prior to his current role, he served as Vice President and Chief Technology Officer for the company. Philipp Michalsky Senior Vice President & Chief Information Officer Philipp Michalsky has been the Chief Information Officer of EnerSys since 2021. He previously served as a Director of IT for EnerSys' EMEA region from 2016 to 2021. Before joining EnerSys, Mr. Michalsky served as the Director of Business Systems at Jacob Holm & Sons. Mark Matthews President, Specialty, Global Mark Matthews serves as the President, Specialty, Global at EnerSys. He is also listed as Senior Vice President in other sources.AI Analysis | Feedback
The key risks to EnerSys's business include:
- Volatile Raw Material Costs and Supply Chain Disruptions: EnerSys relies on a complex global supply chain for essential materials such as lead, lithium, and cobalt. Disruptions to this supply chain due to geopolitical events, trade conflicts, or natural disasters can lead to production delays. Additionally, unfavorable volatility in the prices of these raw materials can significantly impact EnerSys's margins if the company is unable to pass on increased costs to its customers.
- Intensifying Competition and Technological Advancements: The energy storage industry is rapidly growing and highly competitive. EnerSys faces increasing pressure from global lithium-cell manufacturers and integrated system competitors who are expanding their presence in systems and services. Failure to continually innovate, introduce new products, and adapt to evolving technologies, particularly lithium-based battery solutions, could adversely affect the company's market position and competitive standing.
- Softness in Key Customer Segments and Demand Cyclicality: EnerSys has experienced adverse impacts from decreased capital spending by telecommunication and broadband customers, specifically affecting its Energy Systems segment. The company is also exposed to demand cyclicality in various end markets, including warehousing, telecom capital expenditures, and data centers.
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EnerSys (ENS) operates in several key markets for its industrial stored energy solutions:
-
Motive Power: This segment focuses on batteries and charging systems for electric forklifts, mining equipment, and other commercial and industrial electric-powered vehicles.
- The global addressable market for motive power is estimated at approximately $6.8 billion (as of March 2025, for FY24).
- The global motive power battery market size was valued at USD 14.7 billion in 2024 and is projected to reach USD 29.72 billion by 2032.
- In North America, motive power sales exceeded $1.2 billion in 2022 and are forecasted to reach about $1.5 billion by 2025.
-
Energy Systems (Reserve Power): This segment provides integrated power solutions, including uninterruptible power systems (UPS), large-scale energy storage, and thermally managed enclosures, for critical infrastructure such as data centers, telecommunications networks, industrial facilities, and electric utilities.
- EnerSys estimates the total addressable market for its Energy Systems segment to be $20 billion (as of February 2025).
- The global reserve power battery market was valued at USD 51.5 billion in 2023 and is projected to reach USD 248.6 billion by 2031.
-
Specialty Systems: This line of business delivers mission-critical energy storage solutions for demanding applications, including high-performance automotive, over-the-road trucks, satellites, spacecraft, commercial aircraft, and military/defense systems.
- The global specialty battery market size was valued at USD 2.97 billion in 2024 and is expected to reach USD 5.24 billion by 2034. Other reports indicate the global specialty battery market was USD 3.6 billion in 2024, expected to reach USD 3.8 billion in 2025, or USD 99.4 billion in 2024, predicted to reach around USD 228.91 billion by 2034.
- The North America specialty battery market size was estimated at USD 1.10 billion in 2024 and is expected to reach around USD 1.93 billion by 2034.
- The Asia-Pacific specialty battery market was valued at USD 0.74 billion in 2024 and is projected to hit around USD 1.30 billion by 2034.
- The LAMEA (Latin America, Middle East, and Africa) specialty battery market was valued at USD 0.32 billion in 2024 and is anticipated to reach around USD 0.56 billion by 2034.
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EnerSys (ENS) is expected to drive future revenue growth over the next 2-3 years through several key initiatives and market trends:
- Growth in Data Center and Communications Markets: EnerSys anticipates continued revenue growth from its Energy Systems segment, fueled by robust demand in data centers and a recovery in the U.S. communications market. This growth is driven by global megatrends such as digitization, electrification, and automation, which necessitate reliable energy solutions for infrastructure upgrades and the expansion of digital infrastructure, including artificial intelligence (AI) applications.
- Strategic Acquisitions: Acquisitions, such as that of Bren-Tronics, are contributing significantly to EnerSys's revenue, particularly within the Specialty segment. This integration is boosting sales and expanding the company's offerings in critical areas.
- Expansion of Lithium-ion Product Portfolio and Production: EnerSys is actively investing in and expanding its lithium-ion product offerings, including plans for a domestic lithium-ion gigafactory. The increasing sales of lithium products are expected to be a substantial driver of future revenue as the company caters to the growing demand for advanced energy storage solutions.
- Demand for Advanced Motive Power Solutions: The Motive Power segment is poised for growth due to the strong market appetite for automation, electrification, and decarbonization. EnerSys's proprietary maintenance-free and wireless charging solutions are specifically designed to meet these evolving customer needs, contributing to revenue expansion in this area.
- Strength in Aerospace and Defense: The Specialty segment is experiencing robust demand, particularly from the aerospace and defense sectors. This sustained strength is expected to continue driving revenue growth for EnerSys.
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Share Repurchases
- EnerSys's Board of Directors approved a $1 billion increase to its stock repurchase authorization in August 2025, to be executed over the next five years, bringing the total outstanding authorization to $1.06 billion.
- The company returned $192 million to shareholders through share repurchases and dividends in fiscal year 2025, including $40.0 million in share repurchases during the fourth quarter of fiscal 2025.
- In the first six months of fiscal year 2026, EnerSys repurchased $67.7 million in shares, and an additional $37 million in October 2025, leaving $958 million remaining in the buyback authorization as of November 4, 2025.
Share Issuance
- EnerSys issued 383,834 shares under equity-based compensation plans, net of equity awards surrendered for option price and taxes, as of September 28, 2025.
- As of March 31, 2025, the company had 56,839,590 shares issued.
Outbound Investments
- EnerSys completed the all-cash acquisition of Bren-Tronics for approximately $208 million in July 2024.
- The acquisition of Bren-Tronics expands EnerSys' presence in the defense market and strengthens its lithium product offerings.
Capital Expenditures
- Capital expenditures totaled approximately $121 million in fiscal year 2025 and cumulatively around $320 million from fiscal years 2021 to 2024, focusing on continued Thin Plate Pure Lead (TPPL) capacity investments and end-to-end solutions.
- For the first six months of fiscal year 2026, capital expenditures were $53.9 million.
- EnerSys plans to invest $6.7 million to expand operations in Sumter County, South Carolina, and $4.5 million to expand flooded lead battery production capacity in its Bielsko-Biala, Poland facility, both aimed at meeting demand for lithium, flooded, and TPPL battery products.
Latest Trefis Analyses
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|---|---|
| ARTICLES |
Trade Ideas
Select ideas related to ENS. For more, see Trefis Trade Ideas.
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 11212025 | CNM | Core & Main | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 18.3% | 18.3% | -1.6% |
| 11212025 | VRRM | Verra Mobility | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 5.5% | 5.5% | -1.2% |
| 11212025 | LII | Lennox International | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 7.1% | 7.1% | 0.0% |
| 11212025 | ADP | Automatic Data Processing | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 2.9% | 2.9% | -1.2% |
| 11212025 | CW | Curtiss-Wright | Quality | Q | Momentum | UpsideQuality Stocks with Momentum and UpsideBuying quality stocks with strong momentum but still having room to run | 5.7% | 5.7% | -0.4% |
| 03312020 | ENS | EnerSys | Dip Buy | DB | Growth | FCF YieldDip Buy with Growth and High Free Cash Flow YieldBuying dips for companies with growth, and significant free cash flow yield (FCF / Market Cap) | 36.5% | 85.0% | -12.1% |
| 08312019 | ENS | EnerSys | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 10.5% | 33.0% | -31.1% |
Research & Analysis
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Peer Comparisons for EnerSys
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 114.58 |
| Mkt Cap | 158.8 |
| Rev LTM | 56,496 |
| Op Inc LTM | 7,584 |
| FCF LTM | 7,327 |
| FCF 3Y Avg | 7,366 |
| CFO LTM | 8,590 |
| CFO 3Y Avg | 8,697 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 6.1% |
| Rev Chg 3Y Avg | 2.2% |
| Rev Chg Q | 8.4% |
| QoQ Delta Rev Chg LTM | 2.0% |
| Op Mgn LTM | 15.4% |
| Op Mgn 3Y Avg | 13.9% |
| QoQ Delta Op Mgn LTM | 0.1% |
| CFO/Rev LTM | 16.1% |
| CFO/Rev 3Y Avg | 17.1% |
| FCF/Rev LTM | 13.4% |
| FCF/Rev 3Y Avg | 13.7% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 158.8 |
| P/S | 2.9 |
| P/EBIT | 21.2 |
| P/E | 33.0 |
| P/CFO | 17.1 |
| Total Yield | 5.2% |
| Dividend Yield | 2.1% |
| FCF Yield 3Y Avg | 6.2% |
| D/E | 0.2 |
| Net D/E | 0.2 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 0.2% |
| 3M Rtn | 7.5% |
| 6M Rtn | 24.9% |
| 12M Rtn | 25.3% |
| 3Y Rtn | 94.1% |
| 1M Excs Rtn | -1.1% |
| 3M Excs Rtn | 3.2% |
| 6M Excs Rtn | 12.6% |
| 12M Excs Rtn | 9.6% |
| 3Y Excs Rtn | 13.6% |
Comparison Analyses
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Energy Systems | 1,590 | 1,738 | 1,537 | 1,380 | 1,357 |
| Motive power | 1,456 | 1,451 | 1,361 | 1,164 | 1,348 |
| Specialty | 536 | 519 | 459 | 434 | 382 |
| Corporate and other | 0 | ||||
| Total | 3,582 | 3,709 | 3,357 | 2,978 | 3,088 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Motive power | 201 | 180 | 170 | 144 | 147 |
| Corporate and other | 117 | 17 | |||
| Specialty | 18 | 40 | 43 | 46 | 42 |
| Energy Systems | 15 | 90 | 19 | 67 | 68 |
| Amortization - Energy Systems | -27 | ||||
| Amortization - Motive Power | -0 | ||||
| Amortization - Specialty | -3 | ||||
| Impairment of indefinite-lived intangibles - Energy Systems | -0 | -1 | |||
| Impairment of indefinite-lived intangibles - Motive Power | 0 | -1 | |||
| Impairment of indefinite-lived intangibles - Specialty | -0 | 0 | |||
| Inventory adjustment relating to exit activities - Energy Systems | 0 | -0 | |||
| Inventory adjustment relating to exit activities - Motive Power | -1 | -2 | |||
| Inventory adjustment relating to exit activities - Specialty | 0 | ||||
| Legal proceedings charge, net - Energy Systems | 0 | ||||
| Loss on assets held for sale - Motive Power | 0 | -3 | |||
| Other - Energy Systems | -1 | ||||
| Other - Motive Power | -1 | ||||
| Other - Specialty | -0 | ||||
| Restructuring and other exit charges - Energy Systems | -1 | -3 | -3 | -7 | |
| Restructuring and other exit charges - Motive Power | -13 | -17 | -37 | -2 | |
| Restructuring and other exit charges - Specialty | -2 | 1 | -0 | -6 | |
| Impairment of goodwill | 0 | -40 | |||
| Inventory step up to fair value relating to acquisitions - Specialty | 0 | -2 | |||
| Production tax credits from IRA 45X | 0 | ||||
| Fixed asset write-off relating to exit activities - Specialty | -0 | ||||
| Fixed asset write-off relating to exit activities and other - Energy Systems | -0 | ||||
| Fixed asset write-off relating to exit activities and other - Motive Power | -5 | ||||
| Impairment of indefinite-lived intangibles | -5 | ||||
| Inventory step up to fair value relating to acquisitions - Energy Systems | -0 | ||||
| Total | 352 | 278 | 206 | 216 | 190 |
Price Behavior
Price Behavior
| Market Price | $150.99 | |
| Market Cap ($ Bil) | 5.7 | |
| First Trading Date | 08/02/2004 | |
| Distance from 52W High | -0.1% | |
| 50 Days | 200 Days | |
| DMA Price | $136.55 | $104.86 |
| DMA Trend | up | up |
| Distance from DMA | 10.6% | 44.0% |
| 3M | 1YR | |
| Volatility | 30.0% | 35.3% |
| Downside Capture | 117.35 | 102.17 |
| Upside Capture | 240.54 | 135.66 |
| Correlation (SPY) | 64.3% | 63.7% |
ENS Betas & Captures as of 11/30/2025
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.36 | 1.36 | 1.39 | 1.51 | 1.07 | 1.12 |
| Up Beta | 0.61 | 0.98 | 1.33 | 1.62 | 1.10 | 1.23 |
| Down Beta | 1.36 | 1.22 | 1.19 | 1.49 | 1.00 | 1.04 |
| Up Capture | 287% | 261% | 257% | 241% | 143% | 132% |
| Bmk +ve Days | 12 | 25 | 38 | 73 | 141 | 426 |
| Stock +ve Days | 13 | 26 | 38 | 73 | 135 | 394 |
| Down Capture | 88% | 92% | 88% | 97% | 98% | 101% |
| Bmk -ve Days | 7 | 16 | 24 | 52 | 107 | 323 |
| Stock -ve Days | 6 | 15 | 23 | 51 | 112 | 354 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Comparison of ENS With Other Asset Classes (Last 1Y) | |||||||
|---|---|---|---|---|---|---|---|
| ENS | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | 64.9% | 19.3% | 17.8% | 72.1% | 8.6% | 4.4% | -8.2% |
| Annualized Volatility | 35.0% | 18.8% | 19.4% | 19.3% | 15.2% | 17.0% | 35.0% |
| Sharpe Ratio | 1.48 | 0.80 | 0.72 | 2.70 | 0.34 | 0.09 | -0.08 |
| Correlation With Other Assets | 67.0% | 63.5% | 3.1% | 23.3% | 48.1% | 24.9% | |
ETFs used for asset classes: Sector ETF = XLI, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Comparison of ENS With Other Asset Classes (Last 5Y) | |||||||
|---|---|---|---|---|---|---|---|
| ENS | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | 13.1% | 13.8% | 14.7% | 18.7% | 11.5% | 4.6% | 30.8% |
| Annualized Volatility | 33.2% | 17.2% | 17.1% | 15.5% | 18.7% | 18.9% | 48.6% |
| Sharpe Ratio | 0.44 | 0.65 | 0.70 | 0.97 | 0.50 | 0.16 | 0.57 |
| Correlation With Other Assets | 66.6% | 61.6% | 9.2% | 16.4% | 51.0% | 25.4% | |
ETFs used for asset classes: Sector ETF = XLI, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Comparison of ENS With Other Asset Classes (Last 10Y) | |||||||
|---|---|---|---|---|---|---|---|
| ENS | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | 11.4% | 13.5% | 14.8% | 15.3% | 7.0% | 5.3% | 69.2% |
| Annualized Volatility | 36.0% | 19.9% | 18.0% | 14.7% | 17.6% | 20.8% | 55.8% |
| Sharpe Ratio | 0.41 | 0.60 | 0.71 | 0.86 | 0.32 | 0.22 | 0.90 |
| Correlation With Other Assets | 70.6% | 65.8% | 2.7% | 28.0% | 53.0% | 17.8% | |
ETFs used for asset classes: Sector ETF = XLI, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/25/2022 | 7.2% | 5.8% | -5.9% |
| 11/10/2021 | -3.7% | -7.3% | -10.1% |
| 8/11/2021 | -5.2% | -11.8% | -19.4% |
| 5/20/2021 | 2.2% | 5.1% | 5.5% |
| 2/10/2021 | -0.8% | -5.9% | 8.2% |
| 11/12/2020 | -3.1% | 1.1% | 5.1% |
| 8/12/2020 | 3.6% | -1.7% | -9.5% |
| 2/5/2020 | -7.3% | 0.8% | -21.6% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 11 | 10 | 9 |
| # Negative | 11 | 12 | 13 |
| Median Positive | 3.6% | 5.4% | 5.5% |
| Median Negative | -3.8% | -5.3% | -9.5% |
| Max Positive | 7.9% | 13.9% | 21.8% |
| Max Negative | -10.9% | -15.8% | -22.4% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 9302025 | 11052025 | 10-Q 9/28/2025 |
| 6302025 | 8062025 | 10-Q 6/29/2025 |
| 3312025 | 5212025 | 10-K 3/31/2025 |
| 12312024 | 2052025 | 10-Q 12/29/2024 |
| 9302024 | 11062024 | 10-Q 9/29/2024 |
| 6302024 | 8072024 | 10-Q 6/30/2024 |
| 3312024 | 5222024 | 10-K 3/31/2024 |
| 12312023 | 2072024 | 10-Q 12/31/2023 |
| 9302023 | 11082023 | 10-Q 10/1/2023 |
| 6302023 | 8092023 | 10-Q 7/2/2023 |
| 3312023 | 5242023 | 10-K 3/31/2023 |
| 12312022 | 2082023 | 10-Q 1/1/2023 |
| 9302022 | 11092022 | 10-Q 10/2/2022 |
| 6302022 | 8102022 | 10-Q 7/3/2022 |
| 3312022 | 5252022 | 10-K 3/31/2022 |
| 12312021 | 2092022 | 10-Q 1/2/2022 |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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