EnerSys (ENS)
Market Price (3/30/2026): $171.0 | Market Cap: $6.3 BilSector: Industrials | Industry: Electrical Components & Equipment
EnerSys (ENS)
Market Price (3/30/2026): $171.0Market Cap: $6.3 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 5.6%, FCF Yield is 7.0% | Key risksENS key risks include [1] volatile raw material costs and supply chain disruptions, Show more. |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 14%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 12% | |
| Low stock price volatilityVol 12M is 40% | |
| 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 5.6%, FCF Yield is 7.0% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 14%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 12% |
| Low stock price volatilityVol 12M is 40% |
| Megatrend and thematic driversMegatrends include Battery Technology & Metals, Renewable Energy Transition, and Automation & Robotics. Themes include Advanced Battery Components, Show more. |
| Key risksENS key risks include [1] volatile raw material costs and supply chain disruptions, Show more. |
Qualitative Assessment
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EnerSys (ENS) stock has gained about 20% since 11/30/2025 because of the following key factors:
1. Strong Q3 FY2026 Earnings Beat and Margin Expansion.
EnerSys reported adjusted diluted EPS of $2.77 for Q3 FY2026 (period ending December 28, 2025), surpassing analyst estimates of $2.72 by 1.84%. This included an adjusted diluted EPS excluding IRC 45X tax credits of $1.84, which represented a significant 50% increase year-over-year. Although net sales of $919 million were slightly below consensus estimates, the company achieved a gross margin excluding IRC 45X of 26.3%, an improvement of 170 basis points.
2. Robust Shareholder Returns and Strengthened Financial Position.
The company demonstrated a commitment to shareholder value by returning $94 million through share repurchases and dividends in Q3 FY2026, with $931 million remaining in its buyback authorization as of February 3, 2026. EnerSys also maintained a healthy financial position, with its net leverage ratio reduced to 1.2 times EBITDA, down from 1.5 times in the prior year period. Cash from operating activities saw a substantial increase to $184.6 million from $81.1 million in the prior year, leading to free cash flow of $171.3 million, up from $56.8 million.
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1. Strong Q3 FY2026 Earnings Beat and Margin Expansion.
EnerSys reported adjusted diluted EPS of $2.77 for Q3 FY2026 (period ending December 28, 2025), surpassing analyst estimates of $2.72 by 1.84%. This included an adjusted diluted EPS excluding IRC 45X tax credits of $1.84, which represented a significant 50% increase year-over-year. Although net sales of $919 million were slightly below consensus estimates, the company achieved a gross margin excluding IRC 45X of 26.3%, an improvement of 170 basis points.
2. Robust Shareholder Returns and Strengthened Financial Position.
The company demonstrated a commitment to shareholder value by returning $94 million through share repurchases and dividends in Q3 FY2026, with $931 million remaining in its buyback authorization as of February 3, 2026. EnerSys also maintained a healthy financial position, with its net leverage ratio reduced to 1.2 times EBITDA, down from 1.5 times in the prior year period. Cash from operating activities saw a substantial increase to $184.6 million from $81.1 million in the prior year, leading to free cash flow of $171.3 million, up from $56.8 million.
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Stock Movement Drivers
Fundamental Drivers
The 20.2% change in ENS stock from 11/30/2025 to 3/29/2026 was primarily driven by a 27.6% change in the company's P/E Multiple.| (LTM values as of) | 11302025 | 3292026 | Change |
|---|---|---|---|
| Stock Price ($) | 142.63 | 171.37 | 20.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 3,725 | 3,738 | 0.3% |
| Net Income Margin (%) | 9.1% | 8.4% | -7.6% |
| P/E Multiple | 15.8 | 20.2 | 27.6% |
| Shares Outstanding (Mil) | 37 | 37 | 1.6% |
| Cumulative Contribution | 20.2% |
Market Drivers
11/30/2025 to 3/29/2026| Return | Correlation | |
|---|---|---|
| ENS | 20.2% | |
| Market (SPY) | -5.3% | 58.6% |
| Sector (XLI) | 3.9% | 59.3% |
Fundamental Drivers
The 67.9% change in ENS stock from 8/31/2025 to 3/29/2026 was primarily driven by a 79.1% change in the company's P/E Multiple.| (LTM values as of) | 8312025 | 3292026 | Change |
|---|---|---|---|
| Stock Price ($) | 102.05 | 171.37 | 67.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 3,658 | 3,738 | 2.2% |
| Net Income Margin (%) | 9.6% | 8.4% | -12.8% |
| P/E Multiple | 11.3 | 20.2 | 79.1% |
| Shares Outstanding (Mil) | 39 | 37 | 5.2% |
| Cumulative Contribution | 67.9% |
Market Drivers
8/31/2025 to 3/29/2026| Return | Correlation | |
|---|---|---|
| ENS | 67.9% | |
| Market (SPY) | 0.6% | 57.4% |
| Sector (XLI) | 5.5% | 61.3% |
Fundamental Drivers
The 70.7% change in ENS stock from 2/28/2025 to 3/29/2026 was primarily driven by a 68.0% change in the company's P/E Multiple.| (LTM values as of) | 2282025 | 3292026 | Change |
|---|---|---|---|
| Stock Price ($) | 100.37 | 171.37 | 70.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 3,553 | 3,738 | 5.2% |
| Net Income Margin (%) | 9.2% | 8.4% | -9.4% |
| P/E Multiple | 12.0 | 20.2 | 68.0% |
| Shares Outstanding (Mil) | 39 | 37 | 6.6% |
| Cumulative Contribution | 70.7% |
Market Drivers
2/28/2025 to 3/29/2026| Return | Correlation | |
|---|---|---|
| ENS | 70.7% | |
| Market (SPY) | 9.8% | 61.4% |
| Sector (XLI) | 18.4% | 64.6% |
Fundamental Drivers
The 94.6% change in ENS stock from 2/28/2023 to 3/29/2026 was primarily driven by a 119.9% change in the company's Net Income Margin (%).| (LTM values as of) | 2282023 | 3292026 | Change |
|---|---|---|---|
| Stock Price ($) | 88.08 | 171.37 | 94.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 3,626 | 3,738 | 3.1% |
| Net Income Margin (%) | 3.8% | 8.4% | 119.9% |
| P/E Multiple | 26.1 | 20.2 | -22.5% |
| Shares Outstanding (Mil) | 41 | 37 | 10.8% |
| Cumulative Contribution | 94.6% |
Market Drivers
2/28/2023 to 3/29/2026| Return | Correlation | |
|---|---|---|
| ENS | 94.6% | |
| Market (SPY) | 69.4% | 52.4% |
| Sector (XLI) | 65.1% | 59.4% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| ENS Return | -4% | -6% | 38% | -8% | 60% | 16% | 114% |
| Peers Return | 31% | -12% | 19% | 9% | 35% | 17% | 135% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | -5% | 72% |
Monthly Win Rates [3] | |||||||
| ENS Win Rate | 67% | 42% | 50% | 33% | 75% | 67% | |
| Peers Win Rate | 62% | 35% | 54% | 54% | 62% | 63% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 33% | |
Max Drawdowns [4] | |||||||
| ENS Max Drawdown | -12% | -27% | -2% | -13% | -15% | 0% | |
| Peers Max Drawdown | -9% | -32% | -15% | -19% | -23% | -1% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -5% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: RBC, VICR, AIN, FPS, ETN. 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] 2026 data is for the year up to 3/27/2026 (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 RBC, VICR, AIN, FPS, ETN
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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About EnerSys (ENS)
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.
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EnerSys is:
- Like Eaton, but specializing in the industrial batteries and energy storage systems that power critical infrastructure and data centers.
- The industrial equivalent of a battery company like Duracell or Energizer, providing power for forklifts, military vehicles, and telecom systems.
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Major Products and Services of EnerSys (ENS)
- Uninterruptible Power Systems (UPS): Provides backup power for computer, telecommunications, and critical control systems.
- Switchgear and Electrical Control Systems: Supplies systems for managing and distributing electrical power in industrial and utility settings.
- Large-Scale Energy Storage: Offers solutions for significant energy storage needs, including grid and renewable applications.
- Integrated Power Solutions: Delivers comprehensive power systems and services for broadband, telecom, renewable, and industrial clients.
- Thermally Managed Cabinets and Enclosures: Provides protective enclosures designed to regulate temperature for electronic equipment and batteries.
- Motive Power Products: Manufactures batteries for electric industrial forklifts, mining equipment, and rail applications.
- Specialty Batteries (SLI): Produces batteries for starting, lighting, and ignition in transportation vehicles.
- Advanced Energy Solutions: Develops specialized power systems for satellites, military aircraft, submarines, medical devices, and security systems.
- Battery Chargers and Power Equipment: Offers a range of chargers and associated power equipment for industrial batteries.
- After-Market and Customer-Support Services: Provides support, maintenance, and services for their industrial battery products.
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Major Customers of EnerSys (ENS)
EnerSys (ENS) primarily sells its stored energy solutions and related services to other companies (B2B) across a wide range of industrial applications. The provided background information describes the various industries and sectors that constitute its major customer base, rather than listing specific customer company names. These major customer categories include:
- Telecommunications and Broadband Providers: Companies operating telecommunications systems, broadband networks, and integrated power solutions.
- Industrial and Manufacturing Companies: Businesses requiring motive power for electric industrial forklifts in manufacturing, warehousing, and material handling, as well as those using switchgear and electrical control systems in industrial facilities, and mining equipment.
- Utilities and Energy Sector: Electric utilities, companies involved in large-scale energy storage, energy pipelines, and renewable energy projects.
- Transportation Sector: Companies manufacturing or operating vehicles that require specialty batteries for starting, lighting, and ignition applications (e.g., automotive, rail equipment).
- Aerospace, Defense, Medical, and Security Systems Providers: Entities needing energy solutions for satellites, military aircraft, submarines, ships, other tactical vehicles, medical systems, and security systems.
- IT and Data Centers: Customers requiring uninterruptible power systems for computer and computer-controlled systems.
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Shawn O'Connell President and Chief Executive Officer Shawn O'Connell was appointed President and Chief Executive Officer of EnerSys on May 23, 2025. Prior to this role, he served as President and Chief Operating Officer from November 2024 to May 2025. He has held various senior leadership positions within EnerSys, including President, Energy Systems Global (2023–2024), President, Motive Power Global (2020–2023), and President, Motive Power Americas (2019–2020). Mr. O'Connell joined EnerSys in 2011 and has been involved in the energy storage industry since 1997. Andrea J. Funk Executive Vice President & Chief Financial Officer Andrea J. Funk became Executive Vice President & Chief Financial Officer of EnerSys on April 1, 2022. She joined EnerSys in December 2018. Before her tenure at EnerSys, she served as the Chief Executive Officer for Cambridge Lee Industries LLC from 2013 to 2018, and as their Chief Financial Officer and Treasurer from 2011 to 2013. Ms. Funk's career also includes positions at Carpenter Technology, Arrow International, Rhone-Poulenc Rorer, Bell Atlantic Corporation, and Ernst & Young. She holds an MBA from The Wharton School of Business and a Bachelor of Science degree in accounting from Villanova University and was a Certified Public Accountant. Todd M. Sechrist Chief Operating Officer Todd M. Sechrist has served as Chief Operating Officer of EnerSys since April 1, 2016. He joined EnerSys' predecessor company in 1993 and has held several positions with increasing responsibilities, including President of the Company's EMEA (Europe, Middle East & Africa) and Americas businesses. Mr. Sechrist holds a Master of Business Administration degree in Finance from St. Joseph's University and a Bachelor of Science degree in Finance from Pennsylvania State University. Joern Tinnemeyer Chief Technology Officer Joern Tinnemeyer serves as the Chief Technology Officer of EnerSys, a role he started in August 2016. He focuses on the integration of lithium-ion and lead battery technologies for the company. Keith Fisher President, Energy Systems Global Keith Fisher is the President of Energy Systems Global at EnerSys. This segment is critical for driving growth in data center and communications power solutions.AI Analysis | Feedback
```htmlKey Risks to EnerSys (ENS) Business
- Intense Competition and the Transition to Lithium-ion Technology: EnerSys operates in a highly competitive industry where continuous technological advancements are crucial for maintaining market share. The ongoing shift to lithium-ion technology, while an opportunity, also intensifies competition, particularly from pure-play lithium manufacturers. Price wars in the lithium-ion sector, especially from international competitors, are already noted to be compressing gross margins. EnerSys's slower adoption rate of new lithium-ion technology compared to specialized competitors poses a significant threat to its market position and profitability.
- Commodity Price Volatility and Supply Chain Disruptions: A substantial portion of EnerSys's core business remains heavily invested in lead-acid batteries, directly linking its cost of goods sold (COGS) to the volatile global lead commodity market. This volatility creates a structural risk to profitability. Beyond lead, broader geopolitical headwinds and global economic trends can disrupt supply chains and negatively impact customer spending in EnerSys's diverse end-markets, further affecting operational costs and margins.
- Execution Risk of Strategic Initiatives and Operational Cost Control: EnerSys is undertaking strategic initiatives, including restructuring efforts aimed at improving operational efficiencies and implementing cost reduction plans. These initiatives, particularly large-scale undertakings like the planned domestic lithium Gigafactory, carry inherent execution risks. Shortcomings in achieving anticipated cost savings, delays in production yields, or broader failures in executing these strategic plans could significantly erode profit margins and impede future growth.
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1. Rapid Adoption of Hydrogen Fuel Cell Technology in Industrial Motive Power: EnerSys provides motive power products for electric industrial forklifts and other material handling applications. However, the increasing development and deployment of hydrogen fuel cell solutions by competitors for these same industrial vehicles present an emerging threat. Fuel cells offer distinct advantages, such as faster refueling times and consistent power output, which can be highly attractive in high-utilization industrial environments, directly competing with EnerSys's traditional battery-based offerings in this segment.
2. Global Transition to Electric Vehicles (EVs) Impacting Traditional SLI Battery Demand: EnerSys supplies "specialty batteries for starting, lighting, and ignition applications in transportation." The accelerating worldwide shift from internal combustion engine (ICE) vehicles to electric vehicles (EVs) significantly reduces the market for traditional SLI batteries, which are essential components of ICE vehicles. While EVs still require auxiliary 12V batteries, the fundamental change in vehicle architecture and the primary energy storage system could diminish a substantial portion of EnerSys's market in this specific transportation segment.
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EnerSys (ENS) operates in several key markets for its stored energy solutions. Here are the addressable market sizes for its main products and services:
- Uninterruptible Power Supply (UPS) Market: The global uninterruptible power supply market size was valued at approximately USD 9.92 billion in 2025. Another estimate indicates the market was valued at USD 12.16 billion in 2025. This market is projected to grow to about USD 14.84 billion by 2035.
- Stationary Energy Storage Market: The global stationary energy storage market was valued at approximately USD 120.69 billion in 2025. It is projected to grow to about USD 137.07 billion in 2026 and USD 262.15 billion by 2034. Another source indicates a market size of USD 264.9 billion in 2024, projected to reach USD 4.14 trillion by 2034.
- Motive Power Battery Market: 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. Another estimate places the market at USD 49.20 billion in 2025, growing to USD 53.05 billion in 2026. Within this, the global forklift battery market, a significant component of motive power, was valued at approximately USD 5.99 billion in 2025. This segment is projected to reach USD 6.45 billion in 2026 and USD 11.68 billion by 2034.
- Telecom Power Systems Market: The global telecom power systems market size was valued at approximately USD 5.69 billion in 2024. It is projected to reach USD 10.77 billion by 2033. Another source reports the market size as USD 5.85 billion in 2025 and USD 6.39 billion in 2026.
- Specialty Battery Market (Aerospace, Defense, Medical, Transportation): The global specialty battery market size was USD 3.6 billion in 2024, with an expectation to reach USD 3.8 billion in 2025. Specifically, the global aerospace and defense battery market size was USD 3.57 billion in 2024 and is expected to increase to USD 3.82 billion in 2025. The global military batteries market size was valued at USD 2.40 billion in 2025, with projections to reach USD 2.57 billion in 2026.
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Expected Drivers of Future Revenue Growth for EnerSys (ENS)
- Growth in Energy Systems for Telecommunications, Data Centers, and Large-Scale Energy Storage: EnerSys is strategically expanding its integrated energy systems and services to cater to the increasing demands of 5G infrastructure, Fiber to the Home (FTTH), data centers, and edge computing, driven by supportive capital expenditure cycles through 2026. The company's Energy Systems segment has demonstrated strong performance, with significant increases in net sales and adjusted operating earnings, particularly in the Americas and driven by data center revenue growth and early recovery in the U.S. Communications market.
- Increased Adoption of Maintenance-Free Products in Motive Power: EnerSys is experiencing strong demand for its maintenance-free products within the Motive Power segment. This customer enthusiasm has led to maintenance-free products reaching a record 29% of Motive Power segment sales, with a 16% year-over-year growth in sales for these offerings.
- Strategic Acquisitions and Expansion in the Specialty Segment (Aerospace & Defense): The company's strategic acquisition of Bren-Tronics in July 2024 is expected to add over $60 million in revenue in fiscal year 2025. This acquisition, coupled with strong performance in the broader aerospace and defense market, has significantly boosted the Specialty segment's sales and adjusted operating earnings. Demand for chargers, soldier power, and expeditionary power systems from Bren-Tronics, along with increased customer confidence, is contributing to larger, longer-term orders.
- Sustained Pricing Power and Favorable Product Mix: EnerSys has benefited from its ability to maintain and implement price increases across its product lines. Favorable price/mix has been a consistent factor in improving gross margins and operating earnings, particularly within the Motive Power segment, and is expected to continue supporting revenue growth.
- Increased Industrial Automation and Electrification: The global megatrends of industrial automation and electrification are creating significant growth opportunities for EnerSys, especially within its Motive Power segment. As industries invest in automation to enhance productivity, the demand for reliable energy solutions, including those provided by EnerSys for electric industrial forklifts and other machinery, is expected to rise.
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Share Repurchases
- EnerSys's Board of Directors approved a $1 billion increase to its stock repurchase authorization in August 2025, bringing the total outstanding authorization to $1.06 billion, which includes $58 million available from previous authorizations.
- As of February 3, 2026, $931 million remained available under the stock buyback authorization.
- The company returned $94 million to shareholders through a combination of buybacks and dividends in the third quarter of fiscal year 2026.
Share Issuance
- The weighted average diluted shares outstanding for EnerSys have generally decreased over the past few fiscal years, indicating a trend of share repurchases rather than significant issuance. For example, shares outstanding declined by 2.25% in 2025 from 2024 and by 3.4% in 2023 from 2022.
Inbound Investments
- EnerSys has benefited from the Inflation Reduction Act (IRA), generating approximately $450 million in IRC Section 45X credits between January 2023 and December 2025.
- The company received $137 million in cash from its fiscal year 2024 U.S. tax refund in Q2 Fiscal Year 2026, with proceeds intended to further U.S. capacity for energy-dense batteries.
Outbound Investments
- EnerSys completed the acquisition of Bren-Tronics on July 26, 2024, which is a key player in critical defense applications. This acquisition is expected to expand EnerSys' lithium product offerings and strengthen product development capabilities.
- The company is making strategic investments in its domestic lithium plant and the fast-charge/storage business to capitalize on electrification and energy transition trends.
Capital Expenditures
- Full-year capital expenditures are projected to be between $100 million and $120 million, excluding additional spending on the domestic lithium plant.
- For the full fiscal year 2026, EnerSys expects capital expenditures to be approximately $80 million.
- Capital expenditures are primarily focused on expanding TPPL (Thin Plate Pure Lead) production capacity in the U.S. and the development of a lithium-ion cell gigafactory in the U.S., with commercial production anticipated by fiscal year 2030.
Latest Trefis Analyses
Trade Ideas
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| 02272026 | EFX | Equifax | 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 | 0.0% | 0.0% | 0.0% |
| 02202026 | LZ | LegalZoom.com | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | 7.2% | 7.2% | -5.0% |
| 02132026 | ADP | Automatic Data Processing | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 1.1% | 1.1% | -3.0% |
| 02132026 | TREX | Trex | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | -3.2% | -3.2% | -5.9% |
| 02132026 | PCTY | Paylocity | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | -0.6% | -0.6% | -4.8% |
| 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
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 162.19 |
| Mkt Cap | 6.9 |
| Rev LTM | 1,487 |
| Op Inc LTM | 251 |
| FCF LTM | 225 |
| FCF 3Y Avg | 273 |
| CFO LTM | 276 |
| CFO 3Y Avg | 323 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 10.3% |
| Rev Chg 3Y Avg | 5.4% |
| Rev Chg Q | 12.0% |
| QoQ Delta Rev Chg LTM | 3.0% |
| Op Mgn LTM | 15.4% |
| Op Mgn 3Y Avg | 12.0% |
| QoQ Delta Op Mgn LTM | 0.2% |
| CFO/Rev LTM | 15.4% |
| CFO/Rev 3Y Avg | 16.4% |
| FCF/Rev LTM | 12.4% |
| FCF/Rev 3Y Avg | 13.1% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 6.9 |
| P/S | 5.1 |
| P/EBIT | 26.8 |
| P/E | 34.0 |
| P/CFO | 31.0 |
| Total Yield | 1.7% |
| Dividend Yield | 0.3% |
| FCF Yield 3Y Avg | 2.8% |
| D/E | 0.1 |
| Net D/E | 0.1 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -9.2% |
| 3M Rtn | 12.5% |
| 6M Rtn | 22.0% |
| 12M Rtn | 47.7% |
| 3Y Rtn | 112.8% |
| 1M Excs Rtn | -1.6% |
| 3M Excs Rtn | 20.8% |
| 6M Excs Rtn | 26.5% |
| 12M Excs Rtn | 31.9% |
| 3Y Excs Rtn | 58.7% |
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 | $171.37 | |
| Market Cap ($ Bil) | 6.3 | |
| First Trading Date | 08/02/2004 | |
| Distance from 52W High | -9.6% | |
| 50 Days | 200 Days | |
| DMA Price | $171.21 | $129.34 |
| DMA Trend | up | up |
| Distance from DMA | 0.1% | 32.5% |
| 3M | 1YR | |
| Volatility | 47.1% | 40.2% |
| Downside Capture | 0.81 | 0.85 |
| Upside Capture | 266.13 | 165.12 |
| Correlation (SPY) | 55.1% | 61.8% |
ENS Betas & Captures as of 2/28/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 2.70 | 2.22 | 2.33 | 1.77 | 1.23 | 1.15 |
| Up Beta | 4.41 | 3.29 | 3.21 | 2.03 | 1.14 | 1.23 |
| Down Beta | 3.27 | 1.83 | 1.99 | 1.47 | 1.24 | 1.03 |
| Up Capture | 172% | 292% | 314% | 320% | 196% | 153% |
| Bmk +ve Days | 9 | 20 | 31 | 70 | 142 | 431 |
| Stock +ve Days | 10 | 26 | 39 | 78 | 144 | 401 |
| Down Capture | 241% | 153% | 170% | 126% | 111% | 104% |
| Bmk -ve Days | 12 | 21 | 30 | 54 | 109 | 320 |
| Stock -ve Days | 11 | 15 | 22 | 45 | 106 | 349 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ENS | |
|---|---|---|---|---|
| ENS | 79.7% | 40.1% | 1.56 | - |
| Sector ETF (XLI) | 20.5% | 19.2% | 0.84 | 64.8% |
| Equity (SPY) | 14.5% | 18.9% | 0.59 | 61.8% |
| Gold (GLD) | 50.2% | 27.7% | 1.46 | 13.0% |
| Commodities (DBC) | 17.8% | 17.6% | 0.85 | 25.9% |
| Real Estate (VNQ) | 0.4% | 16.4% | -0.15 | 40.8% |
| Bitcoin (BTCUSD) | -23.7% | 44.2% | -0.49 | 37.3% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ENS | |
|---|---|---|---|---|
| ENS | 12.9% | 33.8% | 0.42 | - |
| Sector ETF (XLI) | 12.3% | 17.2% | 0.56 | 65.0% |
| Equity (SPY) | 11.8% | 17.0% | 0.54 | 60.4% |
| Gold (GLD) | 20.7% | 17.7% | 0.96 | 10.9% |
| Commodities (DBC) | 11.6% | 18.9% | 0.50 | 16.5% |
| Real Estate (VNQ) | 3.0% | 18.8% | 0.07 | 49.1% |
| Bitcoin (BTCUSD) | 4.0% | 56.6% | 0.29 | 24.9% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ENS | |
|---|---|---|---|---|
| ENS | 12.4% | 36.3% | 0.43 | - |
| Sector ETF (XLI) | 13.0% | 19.8% | 0.58 | 70.4% |
| Equity (SPY) | 14.0% | 17.9% | 0.67 | 65.5% |
| Gold (GLD) | 13.3% | 15.8% | 0.70 | 5.3% |
| Commodities (DBC) | 8.2% | 17.6% | 0.39 | 27.5% |
| Real Estate (VNQ) | 4.7% | 20.7% | 0.19 | 52.2% |
| Bitcoin (BTCUSD) | 66.4% | 66.8% | 1.06 | 17.7% |
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% |
| SUMMARY STATS | |||
| # Positive | 3 | 3 | 3 |
| # Negative | 4 | 4 | 4 |
| Median Positive | 3.6% | 5.1% | 5.5% |
| Median Negative | -3.4% | -6.6% | -9.8% |
| Max Positive | 7.2% | 5.8% | 8.2% |
| Max Negative | -5.2% | -11.8% | -19.4% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 12/31/2025 | 02/04/2026 | 10-Q |
| 09/30/2025 | 11/05/2025 | 10-Q |
| 06/30/2025 | 08/06/2025 | 10-Q |
| 03/31/2025 | 05/21/2025 | 10-K |
| 12/31/2024 | 02/05/2025 | 10-Q |
| 09/30/2024 | 11/06/2024 | 10-Q |
| 06/30/2024 | 08/07/2024 | 10-Q |
| 03/31/2024 | 05/22/2024 | 10-K |
| 12/31/2023 | 02/07/2024 | 10-Q |
| 09/30/2023 | 11/08/2023 | 10-Q |
| 06/30/2023 | 08/09/2023 | 10-Q |
| 03/31/2023 | 05/24/2023 | 10-K |
| 12/31/2022 | 02/08/2023 | 10-Q |
| 09/30/2022 | 11/09/2022 | 10-Q |
| 06/30/2022 | 08/10/2022 | 10-Q |
| 03/31/2022 | 05/25/2022 | 10-K |
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Uplinger, Chad C | President Motive Power Global | Direct | Sell | 12122025 | 151.46 | 6,702 | 1,015,085 | 3,591,571 | Form |
| 2 | Uplinger, Chad C | Pres., Motive Power Global | Direct | Buy | 6022025 | 83.65 | 295 | 24,677 | 1,467,677 | Form |
| 3 | O'Connell, Shawn M | President & CEO | Direct | Buy | 6022025 | 83.76 | 475 | 39,786 | 3,604,197 | Form |
| 4 | Funk, Andrea J | EVP & Chief Financial Officer | Direct | Buy | 5282025 | 80.20 | 315 | 25,263 | 4,061,731 | Form |
| 5 | Shaffer, David M | CEO | Irrevocable Trust for Adult Child 1 | Sell | 2272025 | 101.13 | 5,689 | Form |
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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