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Energizer vs Fluence Energy: revenue, profit, margins and growth compared

Energizer brought in $3B of revenue in fiscal 2025, Fluence Energy $2.3B in fiscal 2025. Revenue changed by +2.3% at Energizer and -16.1% at Fluence Energy on the year before, so Energizer grew faster. Energizer kept 8.1% of its revenue as net profit, Fluence Energy -2.1%. Free cash flow was $63.2M at Energizer and -$160.4M at Fluence Energy.

Side by side, latest fiscal year

ENRFLNC
Fiscal year endedFY2025 (September 30, 2025)FY2025 (September 30, 2025)
Revenue$3B$2.3B
Revenue growth+2.3%-16.1%
Net income$239M-$48.3M
Net margin8.1%-2.1%
Free cash flow$63.2M-$160.4M
Free cash flow margin2.1%-7.1%
Earnings per share (diluted)$3.32-$0.37
Cash$236.2M$690.8M
Debt$3.4B$0
Price to earnings6.6n/a
Market value$1.5B$1.4B
Dividend yield5.45%n/a
Rank by revenue in sector#6 of 34 · Other#9 of 34 · Other

Over the years

Revenue
ENR FY2018: $1.8BENR FY2019: $2.5BENR FY2020: $2.7BENR FY2021: $3BENR FY2022: $3.1BENR FY2023: $3BENR FY2024: $2.9BENR FY2025: $3BFLNC FY2020: $561.3MFLNC FY2022: $680.8MFLNC FY2022: $1.2BFLNC FY2023: $2.2BFLNC FY2024: $2.7BFLNC FY2025: $2.3BFY18FY19FY20FY21FY22FY23FY24FY25
ENR $3BFLNC $2.3B
Net income
ENR FY2018: $93.5MENR FY2019: $51.1MENR FY2020: -$93.3MENR FY2021: $160.9MENR FY2022: -$231.5MENR FY2023: $140.5MENR FY2024: $38.1MENR FY2025: $239MFLNC FY2020: -$46.7MFLNC FY2022: -$162MFLNC FY2022: -$104.5MFLNC FY2023: -$69.6MFLNC FY2024: $22.7MFLNC FY2025: -$48.3MFY18FY19FY20FY21FY22FY23FY24FY25
ENR $239MFLNC -$48.3M
Net margin
ENR FY2018: 5.2%ENR FY2019: 2.0%ENR FY2020: -3.4%ENR FY2021: 5.3%ENR FY2022: -7.6%ENR FY2023: 4.7%ENR FY2024: 1.3%ENR FY2025: 8.1%FLNC FY2020: -8.3%FLNC FY2022: -23.8%FLNC FY2022: -8.7%FLNC FY2023: -3.1%FLNC FY2024: 0.8%FLNC FY2025: -2.1%FY18FY19FY20FY21FY22FY23FY24FY25
ENR 8.1%FLNC -2.1%
Revenue growth
ENR FY2019: +38.8%ENR FY2020: +10.0%ENR FY2021: +10.1%ENR FY2022: +0.9%ENR FY2023: -3.0%ENR FY2024: -2.5%ENR FY2025: +2.3%FLNC FY2022: +21.3%FLNC FY2022: +76.1%FLNC FY2023: +85.0%FLNC FY2024: +21.7%FLNC FY2025: -16.1%FY19FY20FY21FY22FY23FY24FY25
ENR +2.3%FLNC -16.1%
Free cash flow
ENR FY2018: $204.5MENR FY2019: $94.4MENR FY2020: $311.1MENR FY2021: $114.8MENR FY2022: -$76.8MENR FY2023: $338.4MENR FY2024: $331.7MENR FY2025: $63.2MFLNC FY2020: -$15.8MFLNC FY2022: -$269.6MFLNC FY2022: -$290.3MFLNC FY2023: -$114.9MFLNC FY2024: $71.6MFLNC FY2025: -$160.4MFY18FY19FY20FY21FY22FY23FY24FY25
ENR $63.2MFLNC -$160.4M

Fiscal years as each company reports them; the two may end in different months.

Questions about Energizer and Fluence Energy

Which is bigger by revenue, Energizer or Fluence Energy?

Energizer is bigger by revenue: $3B in fiscal 2025, against $2.3B for Fluence Energy in fiscal 2025.

Which keeps more of its revenue as profit, Energizer or Fluence Energy?

Energizer had a net margin of 8.1% in fiscal 2025; Fluence Energy had -2.1% in fiscal 2025.

Which grew revenue faster, Energizer or Fluence Energy?

In their latest fiscal years revenue changed by +2.3% at Energizer and -16.1% at Fluence Energy.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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