NPWR NET Power Inc. Class A Common Stock

NYSE · Electrical Equipment · View on SEC EDGAR ↗
$1.66
Price · Aug 19, 2026
Fundamentals as of Aug 13, 2026
52W Range
$1–$5
8% of range
Analyst Rating
BUY
11 analysts
Price Target
$3
+88% upside
P/E (TTM)
-0.3
ROE
-134.6%
Net Profit Margin
—

NPWR Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range

Price
$1.66
Market Cap
—
P/E (TTM)
-0.3
EPS (TTM)
$-7.34
Revenue (TTM)
$0
Div Yield
—
ROE
-134.6%
Debt/Equity
—
52W Range
$1 – $5

NPWR Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view

10-Year Performance Revenue, net income, margins and EPS trends

Revenue & Net Income $0
3-point trend, -100.0%
2022-12-31 → 2025-12-31
EPS $-7.34
3-point trend, +50.4%
2022-12-31 → 2025-12-31
Free Cash Flow $-154M
2-point trend, -53.5%
2024-12-31 → 2025-12-31
Margins —
2024-12-31 → 2024-12-31

Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?

Metric
5Y trend
NPWR
Peer Median
P/E (TTM)
3-point trend, +54.8%
-0.3
25.6

Profitability Gross, operating and net margins; ROE, ROA, ROIC

Metric
5Y trend
NPWR
Peer Median
ROA
4-point trend, -1269.5%
-40.0%
-7.5%
ROE
4-point trend, -354.8%
-134.6%
1.3%
ROIC
2-point trend, -3272.3%
-876.5%
—

Financial Health Debt, liquidity, solvency — balance sheet strength

Metric
5Y trend
NPWR
Peer Median
Current Ratio
5-point trend, +13.1%
7.2
1.9
Quick Ratio
5-point trend, -15.1%
4.2
—

Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR

Metric
5Y trend
NPWR
Peer Median

Per Share Metrics EPS, book value per share, cash flow per share, dividend per share

Metric
5Y trend
NPWR
Peer Median
EPS (Diluted)
3-point trend, +50.4%
$-7.34
—

Capital Efficiency Asset turnover, inventory turnover, receivables turnover

Metric
5Y trend
NPWR
Peer Median

NPWR Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside

BUY 11 analysts
  • Strong Buy 3 27.3%
  • Buy 6 54.5%
  • Hold 2 18.2%
  • Sell 0 0.0%
  • Strong Sell 0 0.0%

12-Month Price Target

4 analysts · 2026-08-14
Median target $3.00 +80.7%
Mean target $3.12 +88.3%

Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date

Avg Surprise
1.9%
Period EPS Actual EPS Est Surprise
June 30, 2026 $-0.91 $-0.07 -0.84%
March 31, 2026 $-0.12 $-0.07 -0.05%
Dec. 31, 2025 $-0.24 $-0.09 -0.15%
Sept. 30, 2025 $8.78 $-0.16 8.9%
June 30, 2025 $-0.36 $-0.12 -0.24%
March 31, 2025 $3.57 $-0.12 3.7%

Peer comparison (GICS sub-industry) Key metrics vs sector peers

Ticker Market Cap P/E Rev YoY Net Margin ROE Gross Margin
NPWR — -0.3 — — -134.6% —
EROC — — — — — —
BW $827M -13.2 1.1% -6.2% 17.4% —
NNE $1.61B -36.4 — — -22.6% —
PSIX — 11.6 51.8% — — —
NRGV $779M -7.1 340.9% -50.9% -131.3% 23.6%
HDRN — — — — — —
BWEN — 12.3 10.4% 3.3% 8.4% 10.2%
PPSI $52M -8.8 20.8% -21.7% -19.2% 12.4%
GEV $176.16B 36.9 9.0% 12.8% 47.1% 19.8%

Full Fundamentals All metrics by year — income statement, balance sheet, cash flow

Income Statement 17
Annual Income Statement data for NPWR
Metric Trend 2025202420232022
Revenue 3-point trend, -100.0% $0 $250.0K · $580.0K
Cost of Revenue 2-point trend, -100.0% $0 $31.0K · ·
Gross Profit 3-point trend, -100.0% $0 $219.0K · $305.0K
R&D Expense 2-point trend, +55.8% $100M $64M · ·
SG&A Expense 3-point trend, +596.1% $40M $30M · $6M
Operating Expenses 3-point trend, +3460.0% $1.79B $182M · $50M
Operating Income 3-point trend, -3481.7% $-1.79B $-181M · $-50M
Interest Income · · · $5M
Other Non-op 3-point trend, -71.1% $11.0K $364.0K · $38.0K
Pretax Income 2-point trend, -857.5% $-1.68B $-175M · ·
Income Tax 3-point trend, -4305000.00 $-4M $-11M · $0
Net Income 3-point trend, -956.3% $-579M $-49M · $-55M
EPS (Basic) 3-point trend, +50.4% $-7.34 $-0.67 · $-14.79
EPS (Diluted) 3-point trend, +50.4% $-7.34 $-0.67 · $-14.79
Shares (Basic) 3-point trend, +2028.7% 78,822,000 73,397,000 · 3,702,803
Shares (Diluted) 3-point trend, +2028.7% 78,822,000 73,397,000 · 3,702,803
EBITDA 3-point trend, -29131.9% $-1.73B $-100M · $-6M
Balance Sheet 26
Annual Balance Sheet data for NPWR
Metric Trend 2025202420232022
Cash & Equivalents 4-point trend, +3761.9% $199M $329M $537M $5M
Short-term Investments 2-point trend, +100000000.00 · · $100M $0
Receivables 3-point trend, -100.0% · $0 $58.0K $352.0K
Prepaid Expense 4-point trend, +2343.5% $4M $2M $2M $184.0K
Other Current Assets 2-point trend, -94.8% · · $93.0K $2M
Current Assets 4-point trend, +4486.6% $344M $513M $641M $7M
PP&E (Net) 4-point trend, -52.9% $33M $151M $97M $70M
PP&E (Gross) 2-point trend, -19.0% · · $104M $128M
Accum. Depreciation 2-point trend, -87.8% · · $7M $59M
Goodwill 4-point trend, +0.00 $0 $360M $424M $0
Intangibles 4-point trend, +68938.8% $182M $1.24B $1.31B $263.0K
Other Non-current Assets 3-point trend, +387000.00 $387.0K $652.0K $0 ·
Total Assets 4-point trend, +667.5% $600M $2.29B $2.47B $78M
Accounts Payable 4-point trend, +149.0% $1M $3M $617.0K $577.0K
Accrued Liabilities 4-point trend, +216.3% $8M $14M $11M $2M
Current Liabilities 4-point trend, +461.6% $47M $18M $12M $8M
Capital Leases 4-point trend, +293.9% $3M $2M $2M $656.0K
Deferred Tax 4-point trend, +0.00 $0 $4M $58M $0
Other Non-current Liabilities 2-point trend, -100.0% · · $0 $2M
Total Liabilities 4-point trend, +369.6% $64M $132M $140M $14M
Paid-in Capital 4-point trend, +3317.6% $898M $772M $852M $26M
Retained Earnings 4-point trend, -209.4% $-695M $-116M $-67M $-225M
AOCI 4-point trend, +658.8% $129.0K $32.0K $0 $17.0K
Stockholders' Equity 4-point trend, +216.6% $204M $656M $785M $64M
Liabilities + Equity 4-point trend, +667.5% $600M $2.29B $2.47B $78M
Shares Outstanding · · · 3,722,355
Cash Flow 13
Annual Cash Flow data for NPWR
Metric Trend 2025202420232022
D&A 3-point trend, +366.0% $62M $82M · $13M
Stock-based Comp 3-point trend, +267.9% $46M $34M · $13M
Amort. of Intangibles 3-point trend, +220750.0% $49M $67M · $22.0K
Other Non-cash 2-point trend, +457.1% $349M $-98M · ·
Operating Cash Flow 3-point trend, -626.3% $-121M $-32M · $-17M
CapEx 3-point trend, +28781.7% $33M $69M · $115.0K
Investing Cash Flow 3-point trend, -7556.5% $-9M $-169M · $-115.0K
Debt Issued · · · $2M
Stock Issued 2-point trend, +141000.00 $141.0K $0 · ·
Net Stock Activity $141.0K · · ·
Financing Cash Flow 3-point trend, -101.1% $-230.0K $-5M · $21M
Taxes Paid 2-point trend, +1000.00 $1.0K $0 · ·
Free Cash Flow 2-point trend, -53.5% $-154M $-100M · ·
Profitability 8
Annual Profitability data for NPWR
Metric Trend 2025202420232022
Gross Margin · 87.6% · ·
Operating Margin · -72528.4% · ·
Net Margin · -19676.4% · ·
Pretax Margin · -70089.6% · ·
EBITDA Margin · -39879.2% · ·
ROA 3-point trend, -3547.4% -40.0% -2.1% · 1.2%
ROE 3-point trend, -1189.7% -134.6% -6.8% · -10.4%
ROIC 2-point trend, -3272.3% -876.5% -26.0% · ·
Liquidity & Solvency 2
Annual Liquidity & Solvency data for NPWR
Metric Trend 2025202420232022
Current Ratio 4-point trend, +1804.4% 7.2 28.7 53.3 0.4
Quick Ratio 4-point trend, +1195.2% 4.2 18.4 53.0 0.3
Efficiency 2
Annual Efficiency data for NPWR
Metric Trend 2025202420232022
Asset Turnover 2-point trend, -100.0% 0.0 0.0 · ·
Receivables Turnover · 8.6 · ·
Per Share 3
Annual Per Share data for NPWR
Metric Trend 2025202420232022
Revenue / Share 2-point trend, -100.0% $0.00 $0.00 · ·
Cash Flow / Share 2-point trend, -255.4% $-1.53 $-0.43 · ·
EPS (TTM) 3-point trend, +50.4% $-7.34 $-0.67 · $-14.79
Valuation (TTM) 4
Annual Valuation (TTM) data for NPWR
Metric Trend 2025202420232022
Revenue TTM 3-point trend, -100.0% $0 $250.0K · $580.0K
Net Income TTM 3-point trend, -956.3% $-579M $-49M · $-55M
P/E 3-point trend, +54.8% -0.3 -15.8 · -0.7
Earnings Yield 3-point trend, -121.4% -321.9% -6.3% · -145.4%

Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years

Income Statement
2025-12-312024-12-312023-12-312022-12-312021-12-31
Revenue $0$250.0K—$580.0K—
Gross Margin % —87.6%———
Operating Margin % —-72528.4%———
Net Income $-579M$-49M—$-55M$-10M
Diluted EPS $-7.34$-0.67—$-14.79—
Balance Sheet
2025-12-312024-12-312023-12-312022-12-312021-12-31
Current Ratio 7.228.753.30.46.4
Quick Ratio 4.218.453.00.34.9
Cash Flow
2025-12-312024-12-312023-12-312022-12-312021-12-31
Free Cash Flow $-154M$-100M———

Latest News Recent headlines mentioning this company

My Metrics Your personal watchlist — selected rows from Full Fundamentals

📊

Pick the metrics that matter to you — click the ➕ next to any row in Full Fundamentals above.

Your selection is saved and follows you across all tickers.

Institutional owners (13F) 139 filers · $54.5M total · As of June 30, 2026

Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.

Institutional activity — Q2 2026 vs prior quarter
New positions Exited positions Increased Decreased Net shares change
25 (+8 vs prior Q) 7 (-9 vs prior Q) 41 (+4 vs prior Q) 34 (+2 vs prior Q) +4.8M

Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.

Institution Value Shares % of tracked 13F Type
Share Andrew L. $16,311,725 9,767,500 29.93% Shares
HITE Hedge Asset Management LLC $4,763,959 2,852,670 8.74% Shares
ADAGE CAPITAL PARTNERS GP, L.L.C. $4,742,800 2,840,000 8.70% Shares
PEAK6 LLC $3,316,209 1,985,754 6.08% Shares
VANGUARD CAPITAL MANAGEMENT LLC $3,009,961 1,802,372 5.52% Shares
Defiance ETFs, LLC $2,598,248 1,555,837 4.77% Shares
PEAK6 LLC $2,411,981 1,444,300 4.43% Call option
Sourcerock Group LLC $2,338,184 1,400,110 4.29% Shares
GEODE CAPITAL MANAGEMENT, LLC $1,429,429 855,694 2.62% Shares
Argentarii, LLC $1,209,814 746,799 2.22% Shares
TWO SIGMA INVESTMENTS, LP $1,103,152 660,570 2.02% Shares
STATE STREET CORP $1,042,477 624,238 1.91% Shares
TUDOR INVESTMENT CORP ET AL $663,850 397,515 1.22% Shares
RENAISSANCE TECHNOLOGIES LLC $591,524 354,206 1.09% Shares
VANGUARD PORTFOLIO MANAGEMENT LLC $542,100 324,611 0.99% Shares
Toroso Investments, LLC $534,079 234,245 0.98% Shares
CHARLES SCHWAB INVESTMENT MANAGEMENT INC $481,421 288,276 0.88% Shares
VANGUARD FIDUCIARY TRUST CO $471,676 282,441 0.87% Shares
BOOTHBAY FUND MANAGEMENT, LLC $439,708 263,298 0.81% Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP $435,915 261,027 0.80% Shares
FEDERATED HERMES, INC. $414,507 248,208 0.76% Shares
G.F.W. Energy XII, L.P. $357,374 118,729 0.66% Shares
SHELTON CAPITAL MANAGEMENT $334,501 200,300 0.61% Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP $289,411 173,300 0.53% Call option
SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC $236,943 141,882 0.43% Shares
TWO SIGMA ADVISERS, LP $233,472 102,400 0.43% Shares
DIMENSIONAL FUND ADVISORS LP $217,524 130,254 0.40% Shares
Caption Management, LLC $204,495 122,452 0.38% Shares
ALLIANCEBERNSTEIN L.P. $183,581 117,680 0.34% Shares
SIR Capital Management, L.P. $183,117 109,651 0.34% Shares
GOLDMAN SACHS GROUP INC $173,854 104,104 0.32% Shares
CITADEL ADVISORS LLC $172,177 103,100 0.32% Call option
LOS ANGELES CAPITAL MANAGEMENT LLC $161,038 96,430 0.30% Shares
MOORE CAPITAL MANAGEMENT, LP $141,950 85,000 0.26% Shares
SIMPLEX TRADING, LLC $129,598 77,604 0.24% Shares
XTX Topco Ltd $123,486 73,944 0.23% Shares
WOLVERINE TRADING, LLC $121,660 38,500 0.22% Call option
Nuveen Asset Management, LLC $108,463 10,242 0.20% Shares
D. E. Shaw & Co., Inc. $107,222 64,205 0.20% Shares
JANE STREET GROUP, LLC $105,711 63,300 0.19% Call option
LPL Financial LLC $95,314 57,074 0.17% Shares
DEUTSCHE BANK AG\ $93,627 56,064 0.17% Shares
Qube Research & Technologies Ltd $93,228 55,825 0.17% Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP $92,184 55,200 0.17% Put option
Stonegate Investment Group, LLC $90,300 30,000 0.17% Shares
RHUMBLINE ADVISERS $90,036 53,919 0.17% Shares
CITADEL ADVISORS LLC $80,494 48,200 0.15% Put option
IMC-Chicago, LLC $69,220 41,449 0.13% Shares
MILLENNIUM MANAGEMENT LLC $63,199 37,844 0.12% Shares
WELLS FARGO & COMPANY/MN $59,090 35,383 0.11% Shares
Jain Global LLC $58,148 34,819 0.11% Shares
SIG BROKERAGE, LP $53,343 31,942 0.10% Shares
CANADA PENSION PLAN INVESTMENT BOARD $49,599 29,700 0.09% Shares
LMR Partners LLP $48,086 28,794 0.09% Shares
Quadrature Capital Ltd $44,980 26,934 0.08% Shares
BANK OF AMERICA CORP /DE/ $44,973 26,930 0.08% Shares
Bank of New York Mellon Corp $39,195 23,470 0.07% Shares
TWO SIGMA SECURITIES, LLC $36,840 22,060 0.07% Shares
CAPTRUST FINANCIAL ADVISORS $33,143 19,846 0.06% Shares
MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. $32,488 19,454 0.06% Shares
Polymer Capital Management (US) LLC $31,281 18,731 0.06% Shares
GROUP ONE TRADING LLC $31,182 18,672 0.06% Shares
Mariner, LLC $30,982 18,552 0.06% Shares
INTEGRITY ALLIANCE, LLC. $29,058 17,400 0.05% Shares
Kapstone Financial Advisors LLC $29,050 17,395 0.05% Shares
VANGUARD GROUP INC $27,752 12,172 0.05% Shares
Invesco Ltd. $27,547 16,495 0.05% Shares
Legacy Advisors, LLC $27,410 16,413 0.05% Shares
Engineers Gate Manager LP $27,156 16,261 0.05% Shares
IEQ CAPITAL, LLC $27,066 16,207 0.05% Shares
MERCER GLOBAL ADVISORS INC /ADV $26,798 16,047 0.05% Shares
Point72 Asset Management, L.P. $25,618 15,340 0.05% Shares
OSAIC HOLDINGS, INC. $23,626 14,150 0.04% Shares
Russell Investments Group, Ltd. $22,590 13,527 0.04% Shares
SEI INVESTMENTS CO $21,466 12,854 0.04% Shares
Nuveen, LLC $21,466 12,854 0.04% Shares
WEALTH ENHANCEMENT ADVISORY SERVICES, LLC $21,104 13,528 0.04% Shares
Creative Planning $20,402 12,217 0.04% Shares
Private Advisor Group, LLC $20,374 12,200 0.04% Shares
Vanguard Global Advisers, LLC $20,327 12,172 0.04% Shares
Aigen Investment Management, LP $19,726 11,812 0.04% Shares
BlackRock, Inc. $18,654 11,170 0.03% Shares
Focus Partners Wealth $18,141 10,863 0.03% Shares
INTECH INVESTMENT MANAGEMENT LLC $18,013 10,786 0.03% Shares
JANE STREET GROUP, LLC $17,034 10,200 0.03% Put option
TRUIST FINANCIAL CORP $16,700 10,000 0.03% Shares
Arax Advisory Partners $14,935 8,943 0.03% Shares
CWM, LLC $14,350 9,199 0.03% Shares
AlphaQuest LLC $14,307 6,275 0.03% Shares
Integrated Wealth Concepts LLC $12,314 7,372 0.02% Shares
Tower Research Capital LLC (TRC) $12,244 7,332 0.02% Shares
LANARK FINANCIAL, INC. $10,587 6,340 0.02% Shares
NORTHERN TRUST CORP $10,093 6,044 0.02% Shares
BARCLAYS PLC $9,611 5,755 0.02% Shares
NEW YORK STATE COMMON RETIREMENT FUND $8,517 5,100 0.02% Shares
FIFTH THIRD BANCORP $8,350 5,000 0.02% Shares
Police & Firemen's Retirement System of New Jersey $7,101 4,252 0.01% Shares
Legal & General Group Plc $5,169 3,095 0.01% Shares
UBS Group AG $5,010 3,000 0.01% Shares
Quarry LP $3,769 2,257 0.01% Shares

Company insiders 14 insiders · 6 officers · 5 directors

Insider Role Last activity Shares owned Buys 12m Sells 12m Net 12m
Daniel J. Rice IV Chief Executive Officer June 8, 2023 A 7,535,000 0 0 $0
Akash S. Patel Chief Financial Officer June 8, 2023 A 790,448 0 0 $0
Brian F. Allen President and COO June 8, 2023 A 568,090 0 0 $0
Brandon Heffinger Chief Commercial Officer Aug. 18, 2023 S 27,771 0 0 $0
Brock Forrest Chief Technology Officer June 8, 2023 A 596,917 0 0 $0
James Mahon General Counsel June 8, 2023 A 693,028 0 0 $0
Kyle Derham Director Aug. 16, 2023 C 1,676,668 0 0 $0
Jide Famuagun Director June 8, 2023 A 30,000 0 0 $0
Carrie M Fox Director June 8, 2023 A 30,000 0 0 $0
LYTAL JAMES H Director June 8, 2023 A 30,000 0 0 $0
Cynda Beauchamp 10% owner Nov. 2, 2025 J 0 0 1 $-73,370
SK INC. 10% owner July 30, 2025 J 0 0 0 $0
NPEH, LLC — Aug. 14, 2026 S 1,242,900 0 62 $-20,968,255
Rice Acquisition Sponsor II LLC — June 30, 2023 J 0 0 0 $0

Insiders from SEC Form 3/4/5 filings; net = open-market P/S only

Activists & 5%+ owners 3 positions

Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.

Filer Filed Stake Status Purpose Filing
8 RIVERS CAPITAL, LLC, NPEH, LLC, DAMIAN BEAUCHAMP, 8RCH, LLC ×13 filings Aug. 17, 2026 17.86% Amendment — SEC
OLCV Net Power, LLC, Oxy Low Carbon Ventures, LLC, OXY USA Inc., Occidental Petroleum Corporation June 20, 2023 — Initial filing Board campaign SEC
Constellation Energy Generation, LLC, Constellation Energy Corporation June 20, 2023 — Initial filing Passive investment SEC

Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.

ETF ownership Held by 16 ETFs

Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.

Fund Weight Units As of Source
AIPO · Tidal Trust II 0.33% 1,219,748 NS May 31, 2026 N-PORT
IWN · iShares Trust 0.00% 354,429 SH Aug. 8, 2026 Daily
ITWO · ProShares Trust 0.00% 1,846 NS May 31, 2026 N-PORT
IWM · iShares Trust 0.00% 1,037,717 SH Aug. 8, 2026 Daily
RSSL · Global X Funds 0.00% 13,715 NS April 30, 2026 N-PORT
SCHA · SCHWAB STRATEGIC TRUST 0.00% 181,340 NS May 31, 2026 N-PORT
UWM · ProShares Trust 0.00% 1,443 NS May 31, 2026 N-PORT
URTY · ProShares Trust 0.00% 1,457 NS May 31, 2026 N-PORT
AVSC · AMERICAN CENTURY ETF TRUST 0.00% 5,449 NS May 31, 2026 N-PORT
HDG · ProShares Trust 0.00% 37 NS May 31, 2026 N-PORT
VXF · VANGUARD INDEX FUNDS 0.00% 442,118 SH Aug. 8, 2026 Daily
VTI · VANGUARD INDEX FUNDS 0.00% 1,336,582 SH Aug. 8, 2026 Daily
VTWO · VANGUARD SCOTTSDALE FUNDS 0.00% 244,916 SH Aug. 8, 2026 Daily
VTWV · VANGUARD SCOTTSDALE FUNDS 0.00% 39,261 SH Aug. 8, 2026 Daily
VTHR · VANGUARD SCOTTSDALE FUNDS 0.00% 2,889 SH Aug. 8, 2026 Daily
VIS · VANGUARD WORLD FUND 0.00% 37,545 SH Aug. 8, 2026 Daily