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ESS Tech Inc (GWH)



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Upturn Advisory Summary
08/28/2025: GWH (1-star) has a low Upturn Star Rating. Not recommended to BUY.
1 Year Target Price $1.82
1 Year Target Price $1.82
0 | Strong Buy |
0 | Buy |
3 | Hold |
0 | Sell |
0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit -71.81% | Avg. Invested days 25 | Today’s Advisory WEAK BUY |
Upturn Star Rating ![]() ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Small-Cap Stock | Market Capitalization 21.62M USD | Price to earnings Ratio - | 1Y Target Price 1.82 |
Price to earnings Ratio - | 1Y Target Price 1.82 | ||
Volume (30-day avg) 3 | Beta 1.24 | 52 Weeks Range 0.76 - 10.12 | Updated Date 08/29/2025 |
52 Weeks Range 0.76 - 10.12 | Updated Date 08/29/2025 | ||
Dividends yield (FY) - | Basic EPS (TTM) -6.26 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Revenue by Geography
Earnings Date
Report Date 2025-08-14 | When - | Estimate -0.88 | Actual -0.9 |
Profitability
Profit Margin - | Operating Margin (TTM) -490.12% |
Management Effectiveness
Return on Assets (TTM) -63.75% | Return on Equity (TTM) -207.48% |
Valuation
Trailing PE - | Forward PE - | Enterprise Value 21260701 | Price to Sales(TTM) 3.51 |
Enterprise Value 21260701 | Price to Sales(TTM) 3.51 | ||
Enterprise Value to Revenue 3.45 | Enterprise Value to EBITDA -0.15 | Shares Outstanding 14314700 | Shares Floating 9064073 |
Shares Outstanding 14314700 | Shares Floating 9064073 | ||
Percent Insiders 29.97 | Percent Institutions 13.66 |
Upturn AI SWOT
ESS Tech Inc

Company Overview
History and Background
ESS Tech Inc. was founded in 2011 and is focused on developing and manufacturing long-duration iron flow batteries for commercial and utility-scale energy storage applications. It aims to provide sustainable energy storage solutions.
Core Business Areas
- Long-Duration Energy Storage Solutions: ESS Tech Inc. designs, manufactures, and deploys iron flow battery systems capable of storing and discharging energy for multiple hours, catering to grid-scale energy storage needs.
Leadership and Structure
The leadership team consists of experienced individuals in energy storage, technology, and manufacturing. The organizational structure is designed to support innovation, manufacturing, and commercialization efforts.
Top Products and Market Share
Key Offerings
- Energy Warehouse: ESS's Energy Warehouse (EW) is a long-duration iron flow battery designed for commercial and industrial applications. It does not have any market share data as it is still emerging. Key competitors include: Form Energy, Malta Inc. and Hydrostor.
- Energy Center: ESS's Energy Center (EC) is a grid-scale long-duration energy storage system. It does not have any market share data as it is still emerging. Key competitors include: Form Energy, Malta Inc. and Hydrostor.
Market Dynamics
Industry Overview
The energy storage market is experiencing rapid growth due to the increasing demand for renewable energy integration, grid stabilization, and peak shaving. Long-duration energy storage is becoming increasingly important.
Positioning
ESS Tech Inc. is positioned as a provider of safe and environmentally friendly long-duration energy storage solutions based on iron flow battery technology. They aim to address a specific niche within the energy storage market.
Total Addressable Market (TAM)
The TAM for long-duration energy storage is projected to be in the tens of billions of dollars by the end of the decade. ESS Tech Inc. is positioned to capture a portion of this market through its iron flow technology.
Upturn SWOT Analysis
Strengths
- Environmentally friendly iron flow battery technology
- Long duration energy storage capabilities
- Safe and non-flammable battery chemistry
- Scalable and modular system design
Weaknesses
- Relatively high initial capital costs compared to other storage technologies
- Limited track record of large-scale deployments
- Limited manufacturing capacity
- Not yet profitable
Opportunities
- Growing demand for long-duration energy storage
- Increasing adoption of renewable energy
- Government incentives and subsidies for energy storage
- Partnerships with utilities and energy developers
Threats
- Competition from other energy storage technologies (e.g., lithium-ion, pumped hydro)
- Fluctuations in raw material prices (e.g., iron)
- Changes in government regulations and policies
- Economic downturns that could affect project financing
Competitors and Market Share
Key Competitors
- LAC
- ALB
- VALE
Competitive Landscape
ESS Tech Inc. differentiates itself through its iron flow battery technology, emphasizing safety and sustainability. However, it faces competition from more established energy storage companies with greater financial resources.
Growth Trajectory and Initiatives
Historical Growth: ESS Tech Inc. has experienced strong revenue growth but from a small base.
Future Projections: Analyst estimates project significant revenue growth for ESS Tech Inc. over the next few years as its technology is deployed.
Recent Initiatives: Recent strategic initiatives include securing partnerships with utilities and expanding manufacturing capacity.
Summary
ESS Tech Inc. is a promising company in the long-duration energy storage market with innovative iron flow battery technology. Its strength lies in its environmentally friendly solution, however it is an early stage company with negative profit margins that could require additional funding. Investors should monitor the growth in manufacturing capacity and deployment to asses if it can compete with bigger companies. If there are additional incentives, then the company could do very well.
Peer Comparison
Sources and Disclaimers
Data Sources:
- Company filings, press releases, analyst reports, industry publications
Disclaimers:
This analysis is for informational purposes only and should not be considered financial advice. Investment decisions should be made after thorough research and consultation with a qualified financial advisor.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About ESS Tech Inc
Exchange NYSE | Headquaters Wilsonville, OR, United States | ||
IPO Launch date 2021-01-04 | Interim CEO & Corporate Secretary Ms. Kelly F. Goodman J.D. | ||
Sector Industrials | Industry Electrical Equipment & Parts | Full time employees 240 | Website https://essinc.com |
Full time employees 240 | Website https://essinc.com |
ESS Tech, Inc., an energy storage company, designs and produces iron flow batteries for commercial and utility-scale energy storage applications worldwide. It offers energy storage products, which include Energy Warehouse, a behind-the-meter solution; Energy Center, which is designed to allow customers to connect multiple units in various configurations and supporting energy storage projects ranging from sub-megawatt to tens-of-megawatt scale; and Energy Base, a gigawatt-scale storage product. The company was founded in 2011 and is headquartered in Wilsonville, Oregon.

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