EnerSys vs nVent Electric
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The short version
- nVent Electric is the larger business, with $3.9B of revenue in fiscal 2025 against $3.8B for EnerSys.
- nVent Electric grew revenue faster (29.5%, against 3.7%).
- nVent Electric kept more of each dollar of sales as operating profit (15.8% operating margin, against 11.4%).
- EnerSys turned more of its sales into free cash flow (12.5% FCF margin, against 9.6%).
- EnerSys earned a higher return on the capital invested in it (13.7%, against 9.3%).
- Investors pay more for each dollar of nVent Electric’s earnings: a P/E of 34.4x against 17.8x for EnerSys.
| Latest fiscal year | ENS · FY26 | NVT · FY25 |
|---|---|---|
| Size | ||
| Market cap | $6.2B | $20.6B |
| Revenue | $3.8B | $3.9B |
| Free cash flow | $468M | $372M |
| Net income | $294M | $710M |
| Growth | ||
| Revenue growth | 3.7% | 29.5% |
| 5-year growth | 4.7% | 14.3% |
| Share count change | −5.7% | −2.1% |
| Profitability | ||
| Gross margin | 29.3% | 37.7% |
| Operating margin | 11.4% | 15.8% |
| Net margin | 7.8% | 18.2% |
| FCF margin | 12.5% | 9.6% |
| Return on capital | 13.7% | 9.3% |
| Return on equity | 15.4% | 20.4% |
| Balance sheet | ||
| Net debt | $674M | $1.3B |
| Net debt / EBITDA | 1.3x | 1.6x |
| Dividends and buybacks | $409M | $384M |
| Valuation & quality | ||
| P/E | 17.8x | 34.4x |
| Piotroski F-score | 5 | 6 |
Revenue
FY17
ENS $2.4B
NVT $2.1B
FY18
ENS $2.6B
NVT $2.2B
FY19
ENS $2.8B
NVT $2.2B
FY20
ENS $3.1B
NVT $2.0B
FY21
ENS $3.0B
NVT $2.5B
FY22
ENS $3.4B
NVT $2.3B
FY23
ENS $3.7B
NVT $2.7B
FY24
ENS $3.6B
NVT $3.0B
FY25
ENS $3.6B
NVT $3.9B
FY26
ENS $3.8B
NVT —
ENS
NVT
Operating margin
FY17
ENS 10.0%
NVT 15.1%
FY18
ENS 10.5%
NVT 14.0%
FY19
ENS 7.6%
NVT 15.1%
FY20
ENS 6.2%
NVT 1.9%
FY21
ENS 7.3%
NVT 14.4%
FY22
ENS 6.1%
NVT 13.5%
FY23
ENS 7.5%
NVT 17.3%
FY24
ENS 9.8%
NVT 17.5%
FY25
ENS 12.9%
NVT 15.8%
FY26
ENS 11.4%
NVT —
ENS
NVT
Free cash flow
FY17
ENS $196M
NVT $378M
FY18
ENS $141M
NVT $304M
FY19
ENS $127M
NVT $298M
FY20
ENS $152M
NVT $304M
FY21
ENS $288M
NVT $334M
FY22
ENS −$140M
NVT $354M
FY23
ENS $191M
NVT $463M
FY24
ENS $371M
NVT $569M
FY25
ENS $139M
NVT $372M
FY26
ENS $468M
NVT —
ENS
NVT
Return on capital
FY17
ENS 14.3%
NVT —
FY18
ENS 10.9%
NVT 7.4%
FY19
ENS 11.4%
NVT 8.2%
FY20
ENS 8.6%
NVT 0.9%
FY21
ENS 8.6%
NVT 9.1%
FY22
ENS 7.6%
NVT 7.7%
FY23
ENS 9.9%
NVT 11.2%
FY24
ENS 14.1%
NVT 5.9%
FY25
ENS 16.8%
NVT 9.3%
FY26
ENS 13.7%
NVT —
ENS
NVT
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.