EnerSys financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data EnerSys files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Revenue	2,367	2,582	2,808	3,088	2,978	3,357	3,709	3,582	3,618	3,751
Cost of revenue	1,713	1,920	2,105	2,301	2,239	2,605
Gross profit	652	658	693	785	739	750	840	983	1,092	1,098
Operating expenses	370	382	441	530
Operating income	237	271	212	190	216	206	278	352	465	426
Interest expense	22.2	25	30.9	43.7	38.4	37.8	59.5	50	51.1	50.5
Other non-operating income	-2.22	-7.52	0.61	0.42	-7.8	5.47	-8.19	-9.43	-6.99	-28.6
Pre-tax income	213	238	182	147	170	174	211	292	407	347
Income tax	54.5	118	21.6	9.82	26.8	30	34.8	23.1	42.8	53.8
Net income to minority interests	-1.99	0.24	0.39	0	0
Net income	160	120	160	137	143	144	176	269	364	294
EBITDA	291	325	276	278	310	302	370	444	566	540
EPS, basic	3.69	2.81	3.79	3.23	3.37	3.42	4.31	6.62	9.15	7.84
EPS, diluted	3.64	2.77	3.73	3.20	3.32	3.36	4.25	6.50	8.99	7.70
Shares, basic (weighted)	43.4	42.6	42.3	42.4	42.5	42.1	40.8	40.7	39.8	37.4
Shares, diluted (weighted)	44	43.1	43	42.9	43.2	42.8	41.3	41.4	40.4	38.1
Dividend per share	0.70	0.70	0.70	0.70	0.70	0.70	0.70	0.85	0.95	1.03

Balance sheet

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Cash and equivalents	500	522	299	327	452	402	347	333	343	439
Receivables	487	546	624	596	604	719	638	525	598	506
Inventory	361	414	504	519	518	716	798	698	740	725
Other current assets	22.1	21.3	27.7	26	28.5	46.2	35.1	53.1	62.1	62.7
Total current assets	1,419	1,540	1,537	1,563	1,691	1,993	1,896	1,783	2,090	2,142
Property, plant and equipment	349	390	409	480	497	503	513	532	592	593
Lease right-of-use assets				70	62.2	71.1	85.2	76.4	83.6	70.7
Goodwill	329	353	656	664	706	701	677	683	721	752
Intangible assets	154	147	462	456	431	396	360	319	375	343
Other non-current assets	11.4	12.7	12.9	83.4	72.7	82.9	121	98.7	118	104
Total assets	2,293	2,487	3,118	3,302	3,463	3,737	3,617	3,466	3,971	4,003
Accounts payable	222	259	292	282	324	393	379	369	406	354
Accrued liabilities	227	214	256	272	319	290	309	324	341	421
Deferred revenue		9.39	15.2	17.3	16	27.9	34.6	27.6	28.8	48.1
Short-term debt	0	0	0	46.5	34.2	55.1	30.6	30.4	28.5	29.2
Total current liabilities	467	492	613	600	677	738	718	724	775	804
Long-term debt	588	580	972	1,105	970	1,243	1,042	802	1,084	1,080
Lease liabilities				51.2	42.5	52.9	66.6	61.7	67	52.4
Other non-current liabilities	83.6	181	165	214	196	184	191	152	175	197
Total liabilities	1,185	1,286	1,832	1,998	1,919	2,243	2,013	1,709	2,052	2,094
Total debt	593	586	977	1,113	976	1,250	1,048	810	1,090	1,088
Paid-in capital	464	477	513	529	554	571	596	630	663	735
Retained earnings	1,231	1,321	1,450	1,557	1,670	1,784	1,930	2,164	2,489	2,744
Treasury stock	-440	-561	-531	-564	-563	-719	-741	-836	-989	-1,362
Other comprehensive income	-153	-41.7	-143	-215	-116	-143	-183	-205	-247	-212
Shareholders' equity	1,103	1,196	1,282	1,301	1,540	1,489	1,600	1,754	1,916	1,905
Minority interests	4.91	5.44	3.73	3.54	3.82	3.9	3.6	3.43	3.41	3.59
Total equity	1,108	1,201	1,286	1,304	1,544	1,493	1,604	1,757	1,919	1,909
Total liabilities and equity	2,293	2,487	3,118	3,302	3,463	3,737	3,617	3,466	3,971	4,003
Shares outstanding	43.4	41.9	42.6	42.3	42.8	41	40.9	40.3	39.2	36.5

Cash flow statement

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Net income	158	120	161	137	143	144	176	269	364	294
Depreciation and amortization	53.9	54.3	63.3	87.3	94.1	95.9	91.2	92	101	114
Stock-based compensation	19.2	19.5	22.6	20.8	19.8	24.3	26.4	30.6	27.8	37.6
Deferred income tax	1.46	-20.3	-6.46	-16.5	-8.99	1.12	-15.2	-29.3	-31.9	14.4
Change in receivables	-13.5	-32.2	5.97	26.5	8.71	-129	67.6	109	-81.8	105
Change in inventory	-42.8	-38.1	-46.6	-9.38	24.2	-213	-96.4	75.6	1.34	25.9
Change in payables	0.85	21.3	9.94	-33.5	20.8	65.3	-4.24	-15.1	36.6	-52.6
Cash from operations	246	211	198	253	358	-65.6	280	457	260	548
Capital expenditures	-50.1	-69.8	-70.4	-101	-70	-74	-88.8	-86.4	-121	-80.1
Acquisitions	-12.4	-2.99	-655	-177	0	0	0	-8.27	-206	-12.7
Cash from investing	-61.8	-72.4	-724	-275	-65	-69.2	-44.8	-92.5	-336	-87.9
Debt issued	0	0			0	0	300	0	0
Debt repaid	-15	-128			0	0	-300	0	0
Stock issued	0	0.96	9.05	1.42	9.11	1.34	4.39	10.8	9.46	42
Share buybacks	0	-121	-56.4	-34.6	0	-156	-22.9	-95.7	-154	-371
Dividends paid	-30.4	-29.7	-29.7	-29.7	-29.8	-29.4	-28.5	-34.5	-37.5	-38.1
Cash from financing	-62.5	-167	347	62.7	-189	98.4	-270	-371	90.3	-381
Exchange rate effect	-18.6	50	-43.5	-13.5	20.2	-12.9	-20.5	-7.33	-4.37	16.5
Net change in cash	103	21.8	-223	27.8	125	-49.3	-55.8	-13.3	9.81	95.5
Free cash flow	196	141	127	152	288	-140	191	371	139	468
Income taxes paid								28.8	40.4	51.5

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to July 5, 2026; growth uses fiscal years. Valuation uses the share price of $178.89 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	30.5%	Gross profit / revenue.
Operating margin	13.0%	Operating income / revenue.
EBITDA margin	15.8%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	11.0%	Pre-tax income / revenue.
Net margin	9.3%	Net income / revenue.
FCF margin	18.9%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	20.5%	Cash from operations / revenue.
Effective tax rate	15.4%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	17.9%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	8.9%	Net income / average total assets.
Return on invested capital (ROIC)	16.9%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
Stock-based pay / revenue	0.7%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	1.6%	Capital expenditures / revenue.
D&A / revenue	2.9%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	3.7%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	0.4%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	4.7%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	0.5%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	9.3%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	8.2%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	-8.2%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	15.3%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	14.5%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	-4.5%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	13.5%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	11.7%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-19.3%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	18.6%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	15.4%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	-14.3%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	21.9%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	18.3%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	110.4%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	25.1%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	8.8%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	235.7%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	34.7%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	10.1%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	8.4%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	13.7%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	8.0%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	-0.6%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	6.0%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	4.4%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	0.8%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	3.4%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	2.9%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-5.7%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-2.6%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-2.5%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	2.80x	Current assets / current liabilities.
Quick ratio	1.29x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.70x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.52x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	25.7%	Total debt / total assets.
Liabilities / assets	50.1%	Total liabilities / total assets.
Net debt	$486.9M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	0.81x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Working capital	$1.37B	Current assets - current liabilities.
Goodwill and intangibles / assets	27.4%	(Goodwill + intangible assets) / total assets.
Tangible book value	$887.5M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.96x	Revenue / average total assets.
Fixed asset turnover	6.63x	Revenue / average property, plant and equipment.
Receivables turnover	8.34x	Revenue / average receivables.
Days sales outstanding	44 days	365 x average receivables / revenue.
FCF conversion	203.5%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	7.7%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$9.37	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$100.83	Revenue / diluted weighted shares.
FCF per share	$19.06	Free cash flow / diluted weighted shares.
Operating cash flow per share	$20.64	Cash from operations / diluted weighted shares.
Book value per share	$54.25	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$24.44	Tangible book value / shares outstanding.
Cash per share	$14.61	(Cash + short-term investments) / shares outstanding.
Payout ratio	10.9%	Dividends paid / net income, when net income is positive.
Dividends / FCF	5.4%	Dividends paid / free cash flow, when free cash flow is positive.
Buybacks / FCF	37.7%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$6.45B	Share price x shares outstanding.
Enterprise value	$6.94B	Market cap + total debt - cash - short-term investments.
P/E	18.3x	Market cap / net income. Only when net income is positive.
P/S	1.70x	Market cap / revenue.
P/B	3.28x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	7.27x	Market cap / tangible book value, when positive.
P/FCF	8.99x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	8.31x	Market cap / cash from operations, when positive.
EV/Sales	1.83x	Enterprise value / revenue.
EV/EBIT	14.1x	Enterprise value / operating income, when both are positive.
EV/EBITDA	11.6x	Enterprise value / EBITDA, when both are positive.
EV/FCF	9.67x	Enterprise value / free cash flow, when both are positive.
FCF yield	11.1%	Free cash flow / market cap.
Earnings yield	5.5%	Net income / market cap (the inverse of P/E).
Dividend yield	0.6%	Dividends paid over the period / market cap.
Shareholder yield	4.8%	(Dividends paid + share buybacks) / market cap.
PEG	0.84x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was EnerSys's revenue in fiscal 2026?

EnerSys reported revenue of $3.75B for fiscal 2026, 3.7% higher than the year before.

Was EnerSys profitable in fiscal 2026?

Yes. Net income was $293.6M, a net margin of 7.8%.

How much free cash flow did EnerSys generate in fiscal 2026?

Cash from operations of $547.6M minus capital expenditures of $80.1M left free cash flow of $467.5M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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