2026-10-25
Does not pass
ESS Tech does not pass the ethical screen. The binding factor is interest/revenue 56.8%.
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latest tape · as of 18:01 UTC
The Screen · Industrials · Electrical Equipment & Parts
ESS Tech Inc
GWH · the NYSE · USD · Market cap $6M · 62 employees
ESS Tech, Inc., an energy storage company, engages in the design and production of iron flow batteries for commercial and utility-scale energy storage applications worldwide.
FAIL · Does not pass the screen0.16 USD
Price as of 23 Oct 2026Daily close, not a live quoteLast reviewed 14 days ago
Screened 2026-10-23 · the tape above runs as of 18:01 UTC · two dates, stated on purpose · verdict and workings shown in full · never trimmed
Key facts today
- Price0.16 USD at the 23 Oct 2026 close
- Fair value1.77. Our model only; only one analyst covers it, too few to cross-check it.
- Our value readUndervalued vs our fair value, as of 23 Oct 2026
- Our regime readDistribution, as of 5 Nov 2026
- Ethical screenDoes not pass
- Last reviewed23 Oct 2026 (14 days ago)
- Release timesRelease and earnings times on your chart: Event Guard Mentor
A summary of the dated readings below, not a live quote and not advice.
PRICE · ONE YEAR
Our fair-value range: range not available, base estimate $1.77 (screen dated 2026-10-23).
- Trend Distribution
- Insiders no filings inside 60 days, left as found
- Positioning no disclosures inside 60 days, left as found
- Options no verdict drawn today, left as found
- Ethical does not pass the values gate
Price0.16 USD
Fair value1.77Our model only; only one analyst covers it, too few to cross-check it.
Ethical score70.0/100
Value readUndervaluedas of 23 Oct 2026
Our investment reviews on this name
2026-07-02Read Distribution0.83-81.0% to today ✓First review on file: Distribution
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
The full research record, in depth, below
This name holds its distribution label.
ESS Tech Inc holds its Distribution at $0.16. The statistical read favours the sellers, held for 25 days.
| Phase | Distribution · caution |
| Quantitative state | The statistical read favours the sellers, held for 25 days |
| Price at the screen | $0.16 |
| Valuation | N/A trailing · -0.20 forward price to earnings |
| Values screen | FAIL · score 70.0 |
| Beta | 1.35 |
Five Screens, Shown in Full
Does not pass. Interest/revenue 56.8%
| Test | Figure | Limit | What it means | Status |
|---|---|---|---|---|
| Business activity | Permissible | Core business clean | Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending. | Pass |
| Debt load | 23.23% | Below 33% | Interest-bearing debt is just 23.2% of its assets, well under the one-third ceiling: it does not run on borrowed money. | Pass |
| Interest-bearing cash | 14.77% | Below 33% | Cash held in interest-bearing accounts and securities is 14.8% of assets, under the one-third limit. | Pass |
| Receivables | 28.32% | Below 49% | Money owed to the company is 28.3% of assets, under the 49% limit. | Pass |
| Revenue purity | 56.78% | Below 5% | 56.8% of revenue comes from non-compliant sources, over the 5% line. | Fail |
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical ReadWhy It Falls Short, in Plain English
ESS Tech does not pass the ethical screen. The binding factor is interest/revenue 56.8%.
Read as at 2026-11-05. It updates when the underlying figures move, and past reads are kept below.
2026-09-24
Clears
ESS Tech clears all five screens. Its business is in a permissible area, its interest-bearing debt is about 23%, inside the ~33% line, and almost none of its income is interest, so it passes.
Earlier reads, kept as written. The ethical profile is tracked over time, not overwritten.
Follow this verdict
Get an email when GWH's ethical verdict changes
Today GWH does not pass the screen. If new figures move it to a pass, we send you one short email with the before and after. Verdicts change rarely, so you may not hear from us for a long time.
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The Fair Value Range
Our model only; only one analyst covers it, too few to cross-check it.
Our analysis reads Undervalued vs our fair value, as of 23 Oct 2026: it trades at roughly a 79% discount to our $1.77 fair value, none competitive moat.
How a fair value is estimated: discounted cash flow (DCF).
Fair value range in USD, drawn from the 2026-10-23 screen. The gold marker is the market price at the same screen. A 91.1% discount to the base estimate.
Reading the gap · Both our model and the analysts see meaningful upside from here.
Price History & ProjectionsWhere our models see it going: fair-value estimate $1.77, range not available, dated to the 2026-10-23 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain WordsWhy it stands out
Trading at -0.2x forward earnings, with a none competitive moat. That is a 79% discount to our $1.77 fair value: the market is pricing it cautiously while the fundamentals argue otherwise.
| Forward P/E | -0.2x |
| EPS, trailing | -2.95 |
| EPS, forward | -0.79 |
| Revenue growth | -96.9%revenue is shrinking |
| Profit margin | 0.0%currently unprofitable |
| Return on equity | -21,339.7%not currently earning a positive return on equity |
| FCF yield | -532.31% |
| Current ratio | 0.68below 1: short-term bills exceed liquid assets |
| Beta | 1.35moves a little more than the market |
| Short interest, float | 0.06% |
| 52-week range | 0.05 - 13.87 |
| Moat | NONE |
| Market cap | $6M |
| Employees | 62 |
Another profit measure, before interest, tax and non-cash costs: EBITDA.
The risks · The things to watch: it's a small-cap, so the share price can swing harder than the market; it already moves more than the market on an average day.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to TradeGWH trades on the NYSE. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
Every Entry, As Written
2026-10-31
Distribution $0.16
+56.7% Entry 8
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved up 56.7% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it D. Technically it is sitting below its long-term trend line with momentum reading oversold. Over the past year the shares are down 32%. Our forward projection puts the odds of a 10% gain over the next month near 24%. The street (1 analysts) rates it none, with a mean price target of $2.
2026-10-18
Distribution $0.10
-73.0% Entry 7
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 73.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it D. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 32%. Our forward projection puts the odds of a 10% gain over the next month near 24%. The street (1 analysts) rates it none, with a mean price target of $2.
2026-10-02
Distribution $0.37
-40.2% Entry 6
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 40.2% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it D. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 32%. Our forward projection puts the odds of a 10% gain over the next month near 24%. The street (1 analysts) rates it none, with a mean price target of $2.
2026-08-31
Distribution $0.62
-30.0% Entry 5
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 30.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it D. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 32%. Our forward projection puts the odds of a 10% gain over the next month near 24%. The street (1 analysts) rates it none, with a mean price target of $2.
2026-07-31
Distribution $0.88
+7.0% Entry 4
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved up 7.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 32%. Our forward projection puts the odds of a 10% gain over the next month near 24%. The street (1 analysts) rates it none, with a mean price target of $2.
2026-07-18
Distribution $0.83
+0.0% Entry 3
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 32%. Our forward projection puts the odds of a 10% gain over the next month near 24%. The street (1 analysts) rates it none, with a mean price target of $2.
2026-07-03
Distribution $0.83
+0.0% Entry 2
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows modest positive risk-adjusted returns.
2026-07-02
Distribution $0.83
Entry 1
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows modest positive risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
- ESS Tech Transitions to OTC Trading Platform Yahoo Finance · 5 Oct 2026
- NYSE to Commence Delisting Proceedings Against ESS Tech, Inc. (GWH) Yahoo Finance · 2 Oct 2026
- She Will Sell a Stock at a $40,000 Loss. That Won’t Cancel the Income From Her $40,000 IRA Withdrawal Yahoo Finance · 27 Sep 2026
- ESS Achieves "Awardable" Status Through Department of War’s Tradewinds Solutions Marketplace Yahoo Finance · 2 Sep 2026
- Exclusive: ESS Tech holders would own 5-10% of combined company under LOI terms Investing.com · 1 Sep 2026
Headlines from third-party outlets, linked for reference: not our reporting, not advice.
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| Period | Price then | Price return | Divs per share | $1,000 became | Total return |
|---|---|---|---|---|---|
| 1 month | $0.81 | +1.7% | · | $1,017 | +1.7% |
| 2 months | $1.15 | -28.0% | · | $720 | -28.0% |
| 3 months | $1.27 | -34.8% | · | $652 | -34.8% |
| 6 months | $2.29 | -63.8% | · | $362 | -63.8% |
| 1 year | $1.22 | -32.1% | · | $679 | -32.1% |
| 2 years | $10.55 | -92.2% | · | $78 | -92.2% |
| 3 years | $19.05 | -95.7% | · | $44 | -95.7% |
| 5 years | $148.80 | -99.4% | · | $6 | -99.4% |
Historical returns from market close data. Past performance does not guarantee future results.
This entry now belongs to the ledger. Whatever GWH does next, these words stay.
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