ESS Tech (ESS Tech) Gross Margin % : -306.36% (As of Mar. 2024)

View and export this data going back to 2021. Start your Free Trial

What is ESS Tech Gross Margin %?

Gross Margin % is calculated as gross profit divided by its revenue. ESS Tech's Gross Profit for the three months ended in Mar. 2024 was $-8.39 Mil. ESS Tech's Revenue for the three months ended in Mar. 2024 was $2.74 Mil. Therefore, ESS Tech's Gross Margin % for the quarter that ended in Mar. 2024 was -306.36%.

The historical rank and industry rank for ESS Tech's Gross Margin % or its related term are showing as below:

GWH' s Gross Margin % Range Over the Past 10 Years
Min: -219.21 Med: -171.82 Max: -171.82
Current: -219.21

During the past 4 years, the highest Gross Margin % of ESS Tech was -171.82%. The lowest was -219.21%. And the median was -171.82%.

GWH's Gross Margin % is ranked worse than
99.69% of 2939 companies
in the Industrial Products industry
Industry Median: 26.39 vs GWH: -219.21

ESS Tech had a gross margin of -306.36% for the quarter that ended in Mar. 2024 => No sustainable competitive advantage

The 5-Year average Growth Rate of Gross Margin for ESS Tech was 0.00% per year.

ESS Tech Gross Margin % Historical Data

The historical data trend for ESS Tech's Gross Margin % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

ESS Tech Gross Margin % Chart

ESS Tech Annual Data

Trend

Dec20

Dec21

Dec22

Dec23

Gross Margin %

-171.82

ESS Tech Quarterly Data
	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Gross Margin %	Get a 7-Day Free Trial									-	-	-559.09	-268.81	-306.36

Competitive Comparison of ESS Tech's Gross Margin %

For the Electrical Equipment & Parts subindustry, ESS Tech's Gross Margin %, along with its competitors' market caps and Gross Margin % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

ESS Tech's Gross Margin % Distribution in the Industrial Products Industry

For the Industrial Products industry and Industrials sector, ESS Tech's Gross Margin % distribution charts can be found below:

* The bar in red indicates where ESS Tech's Gross Margin % falls into.

ESS Tech Gross Margin % Calculation

Gross Margin is the percentage of Gross Profit out of sales or Revenue.

ESS Tech's Gross Margin for the fiscal year that ended in Dec. 2023 is calculated as

Gross Margin % (A: Dec. 2023 )	=	Gross Profit (A: Dec. 2023 )	/	Revenue (A: Dec. 2023 )
	=	-13	/	7.54
	=	(Revenue - Cost of Goods Sold)	/	Revenue
	=	(7.54 - 20.495)	/	7.54
	=	-171.82 %

ESS Tech's Gross Margin for the quarter that ended in Mar. 2024 is calculated as

Gross Margin % (Q: Mar. 2024 )	=	Gross Profit (Q: Mar. 2024 )	/	Revenue (Q: Mar. 2024 )
	=	-8.4	/	2.738
	=	(Revenue - Cost of Goods Sold)	/	Revenue
	=	(2.738 - 11.126)	/	2.738
	=	-306.36 %

A positive Gross Profit is only the first step for a company to make a net profit. The gross profit needs to be big enough to also cover related labor, equipment, rental, marketing/advertising, research and development and a lot of other costs in selling the products.

ESS Tech (NYSE:GWH) Gross Margin % Explanation

Warren Buffett believes that firms with excellent long term economics tend to have consistently higher margins.

Durable competitive advantage creates a high Gross Margin % because of the freedom to price in excess of cost. Companies can be categorized by their Gross Margin %

1. Greater than 40% = Durable competitive advantage
2. Less than 40% = Competition eroding margins
3. Less than 20% = no sustainable competitive advantage
Consistency of Gross Margin is key

ESS Tech had a gross margin of -306.36% for the quarter that ended in Mar. 2024 => No sustainable competitive advantage

Be Aware

If a company loses its competitive advantages, usually its gross margin declines well before its sales declines. Watching Gross Margin % and Operating Margin % closely helps avoid value trap situations.

ESS Tech Gross Margin % Related Terms

Thank you for viewing the detailed overview of ESS Tech's Gross Margin % provided by GuruFocus.com. Please click on the following links to see related term pages.

ESS Tech (ESS Tech) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Industrial Products » ESS Tech Inc (NYSE:GWH) » Definitions » Gross Margin %

Comparable Companies

Traded in Other Exchanges

GWHWS:USA

Address

26440 SW Parkway Avenue, Building 83, Wilsonville, OR, USA, 97070

Website

https://www.essinc.com

ESS Tech Inc is a long-duration energy storage company specializing in iron flow battery technology. The company design and produce long-duration batteries predominantly using earth-abundant materials.

Executives

Harry Quarls	director	14701 ST. MARY'S LANE, SUITE 275, HOUSTON TX 77079
Kyle Teamey	director	C/O ESS TECH INC, 26440 SW PARKWAY AVE BLDG. 83, WILSONVILLE OR 97070
Honeywell International Inc	10 percent owner	855 S. MINT STREET, CHARLOTTE NC 28202
Sandeep Nijhawan	director	ESS TECH, INC., 26440 SW PARKWAY AVE., BLDG 83, WILSONVILLE OR 97070
Michael R Niggli	director	101 ASH STREET HQ18, SAN DIEGO CA 92101
Rich Hossfeld	director	C/O ESS TECH INC, 26440 SW PARKWAY AVE BLDG. 83, WILSONVILLE OR 97070
Craig E Evans	director, officer: President	C/O ESS TECH INC, 26440 SW PARKWAY AVE BLDG. 83, WILSONVILLE OR 97070
Eric P. Dresselhuys	director, officer: Chief Executive Officer	555 BROADWAY STREET, REDWOOD CITY CA 94063
Anthony Rabb	officer: Chief Financial Officer	C/O ESS TECH, INC., 26440 SW PARKWAY AVE., BLDG 83, WILSONVILLE OR 97070
Amir Moftakhar	officer: Chief Financial Officer	C/O ESS TECH INC, 26440 SW PARKWAY AVE BLDG. 83, WILSONVILLE OR 97070
Claudia Gast	director	C/O GLOBAL TECHNOLOGY ACQUISITION CORP I, 19 WEST 24TH STREET, 10TH FLOOR, NEW YORK NY 10010
Jeff Bodner	officer: Chief Accounting Officer	C/O ESS TECH INC, 26440 SW PARKWAY AVE BLDG. 83, WILSONVILLE CA 97070
Breakthrough Energy Investments Llc	10 percent owner	250 SUMMER STREET, 4TH FLOOR, BOSTON MA 02210
Julia Song	officer: Chief Technology Officer	C/O ESS TECH INC, 26440 SW PARKWAY AVE BLDG. 83, WILSONVILLE OR 97070
Shirley Speakman	director	C/O ESS TECH INC, 26440 SW PARKWAY AVE BLDG. 83, WILSONVILLE OR 97070