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Invinity Energy Systems
(LSE:IES)
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Rating:47Neutral
Price Target:
21.50 p
▼(-6.52% Downside)
Action:Reiterated
Date:07/11/26
The score is held down primarily by weak financial performance—persistent operating losses, negative margins, and heavy cash burn—despite a low-debt balance sheet. Technical signals also remain bearish with the stock trading below key moving averages and negative MACD, even though it is oversold. Offsetting these, the earnings call indicated improving fundamentals via rising orders, meaningful cost reductions, and strong liquidity runway, but profitability and cash-flow execution remain the key gating factors.
Positive Factors
Rising order intake
The sharp increase in signed orders indicates improving customer demand for Invinity’s long-duration storage systems. If converted into deliveries and recognized revenue, stronger bookings can support production scale, market adoption, and a broader base for future recurring services.
Negative Factors
Persistent unprofitable operations
Persistent gross losses and large operating deficits show that higher activity has not yet translated into a viable earnings model. Unless product, manufacturing, and project margins improve sustainably, revenue growth alone may continue to increase scale without creating shareholder value.
Read all positive and negative factors
Positive Factors
Negative Factors
Rising order intake
The sharp increase in signed orders indicates improving customer demand for Invinity’s long-duration storage systems. If converted into deliveries and recognized revenue, stronger bookings can support production scale, market adoption, and a broader base for future recurring services.
Read all positive factors
Invinity Energy Systems (IES) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£123.87M
Dividend YieldN/A
Average Volume (3M)999.67K
Price to Earnings (P/E)―
Beta (1Y)0.11
Revenue Growth63.15%
EPS Growth23.46%
CountryUK
Employees162
SectorIndustrials
Sector Strength72
IndustryElectrical Equipment & Parts
Share Statistics
EPS (TTM)N/A
Shares Outstanding569,524,660
10 Day Avg. Volume538,501
30 Day Avg. Volume999,670
Financial Highlights & Ratios
PEG Ratio0.16
Price to Book (P/B)1.33
Price to Sales (P/S)10.84
P/FCF Ratio-2.59
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
£60.00Price Target Upside160.87% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Invinity Energy Systems Business Overview & Revenue Model
Company Description
Invinity Energy Systems plc, founded in 2006 and based in Saint Helier, United Kingdom, is a prominent manufacturer and global supplier of vanadium flow batteries (VFBs). These batteries provide essential energy storage solutions across various in...
How the Company Makes Money
IES primarily makes money by selling and delivering vanadium flow battery energy storage systems to customers (e.g., utilities, project developers, and commercial/industrial energy users). Revenue is generally generated through (1) system/equipmen...
Invinity Energy Systems Financial Statement Overview
Summary
Income Statement
22
Negative
Balance Sheet
66
Positive
Cash Flow
18
Very Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 8.18M | 5.01M | 22.01M | 2.94M | 3.19M |
| Gross Profit | -2.87M | -3.51M | -3.35M | 17.00K | -3.44M |
| EBITDA | -22.59M | -21.31M | -20.97M | -17.12M | -20.60M |
| Net Income | -24.09M | -22.80M | -23.18M | -18.59M | -21.04M |
Balance Sheet | |||||
| Total Assets | 81.05M | 75.56M | 41.97M | 53.09M | 66.64M |
| Cash, Cash Equivalents and Short-Term Investments | 28.79M | 35.35M | 5.01M | 5.14M | 26.36M |
| Total Debt | 2.00M | 1.70M | 1.56M | 1.71M | 770.00K |
| Total Liabilities | 14.61M | 9.89M | 8.16M | 18.70M | 15.40M |
| Stockholders Equity | 66.43M | 65.67M | 33.81M | 34.39M | 51.24M |
Cash Flow | |||||
| Free Cash Flow | -34.21M | -26.20M | -20.40M | -22.58M | -23.71M |
| Operating Cash Flow | -17.21M | -24.89M | -19.36M | -21.87M | -22.96M |
| Investing Cash Flow | -9.50M | -1.30M | -984.00K | -708.00K | -751.00K |
| Financing Cash Flow | 23.42M | 53.62M | 20.13M | 1.29M | 28.10M |
Invinity Energy Systems Technical Analysis
Negative
23.00
Price Trends
24.01
Negative
25.79
Negative
22.22
Negative
Market Momentum
-0.69
Positive
40.54
Neutral
31.82
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:IES, the sentiment is Negative. The current price of 23 is below the 20-day moving average (MA) of 23.37, below the 50-day MA of 24.01, and above the 200-day MA of 22.22, indicating a bearish trend. The MACD of -0.69 indicates Positive momentum. The RSI at 40.54 is Neutral, neither overbought nor oversold. The STOCH value of 31.82 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GB:IES.
Invinity Energy Systems Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
48 Neutral | £894.22M | -17.92 | -39.26% | ― | -37.09% | -67.49% | |
48 Neutral | £722.52M | -21.30 | -14.17% | ― | 23.20% | 18.73% | |
47 Neutral | £123.87M | -4.31 | -39.44% | ― | 63.15% | 23.46% | |
43 Neutral | £13.36M | -0.75 | -77.92% | ― | ― | ― |
* Industrials Sector Average
GB:IES
Invinity Energy Systems
21.75
0.00
0.00%
GB:CWR
Ceres Power Holdings
427.00
323.80
313.76%
GB:ITM
ITM Power
109.00
45.60
71.92%
GB:GWIN
Gowin New Energy Group Ltd.
0.08
0.05
150.00%
GB:CPH2
Clean Power Hydrogen PLC
1.35
-3.70
-73.27%
Invinity Energy Systems Corporate Events
Business Operations and StrategyRegulatory Filings and Compliance
Invinity Updates Share Capital After Employee Option Exercise
Neutral
Sep 1, 2026
Invinity Energy Systems plc, a global leader in vanadium flow battery technology, manufactures longer-duration energy storage systems in the UK and Canada for customers around the world. Its Endurium VFB products are marketed as a safer, non-degra...
Business Operations and Strategy
Invinity Taps Equans for World’s Largest Vanadium Flow Battery in Switzerland
Positive
Aug 11, 2026
Invinity Energy Systems has signed an engineering, procurement and construction agreement with Equans Switzerland to support delivery of what is expected to be the world’s largest vanadium flow battery at FlexBase Group’s Technology Ce...
Business Operations and Strategy
Invinity Signs EPC Deal with Equans for Record-Scale Swiss Battery Project
Positive
Aug 11, 2026
Invinity Energy Systems has signed an engineering, procurement and construction agreement with Equans Switzerland to support delivery of the vanadium flow battery component of FlexBase Group’s Technology Centre Laufenburg project. The Swiss ...
Business Operations and Strategy
Invinity passes 10 GWh milestone for vanadium flow battery fleet
Positive
Aug 4, 2026
Invinity Energy Systems has announced that its global fleet of vanadium flow batteries has dispatched more than 10 GWh of energy for customers, an 85% year-on-year increase that underscores accelerating adoption of its technology. The milestone, s...
Regulatory Filings and Compliance
Invinity updates share capital after employee option exercise
Neutral
Aug 3, 2026
Invinity Energy Systems, a global provider of vanadium flow battery technology, builds long-duration energy storage systems in the UK and Canada for customers worldwide. Its batteries are engineered for 30-year lifespans, do not degrade quickly, a...
Business Operations and Strategy
Invinity lands record 43 MWh U.S. battery order from Dairyland Power
Positive
Aug 3, 2026
Invinity Energy Systems has secured its largest-ever order with a 43 MWh sale of vanadium flow battery systems to Dairyland Power Cooperative for deployment across multiple long-duration energy storage sites in the U.S. Midwest. The batteries, bas...
Business Operations and Strategy
Invinity Adds Panmure Liberum as Joint Broker to Bolster Market Support
Positive
Jul 31, 2026
Invinity Energy Systems has appointed Panmure Liberum Limited as a new joint broker, expanding the roster of investment banks representing the company in the capital markets. Canaccord Genuity will continue as nominated adviser and joint broker, w...
Regulatory Filings and Compliance
Invinity Updates Share Capital After Option and Warrant Exercises
Neutral
Jul 1, 2026
Invinity Energy Systems, a specialist in vanadium flow battery technology, builds long-duration energy storage systems in the UK and Canada for global deployment. Its batteries are designed for high-throughput, heavy-duty use over decades, providi...
Business Operations and StrategyExecutive/Board Changes
Invinity strengthens board with appointment of energy veteran Volker Beckers
Positive
Jun 29, 2026
Invinity Energy Systems has appointed veteran energy executive Volker Beckers CBE as a non-executive director, adding a board member with over three decades of industry leadership, including senior roles at RWE Npower and multiple chair positions ...
Business Operations and Strategy
Invinity’s Vanadium Flow Batteries Picked by Ofgem for UK Long-Duration Storage Scheme
Positive
Jun 26, 2026
Invinity Energy Systems has had its vanadium flow battery technology selected by UK energy regulator Ofgem as part of the Frontier Legacy project under the first window of the UK Long Duration Energy Storage Cap and Floor Scheme. The 520 MWh proje...
Business Operations and StrategyShareholder Meetings
Invinity Wins Strong Shareholder Backing at AGM as It Pushes Vanadium Battery Growth
Positive
Jun 25, 2026
Invinity Energy Systems, a UK AIM-listed specialist in vanadium flow battery technology, builds long-duration energy storage systems in the UK and Canada for global deployment. The company positions its Endurium VFB products as safe, scalable and ...
Business Operations and Strategy
Invinity Wins 32 MWh U.S. Steel Mill Deal Backed by California Energy Commission
Positive
Jun 15, 2026
Invinity Energy Systems has agreed to sell a 32 MWh vanadium flow battery system to Pacific Steel Group for its Mojave Micro Mill project in Kern County, California. Backed by funding from the California Energy Commission’s long-duration ene...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.