NRGV vs. APLD

Last updated Apr 1, 2026

Compare and contrast key facts about Energy Vault Holdings, Inc. (NRGV) and Applied Digital Corporation (APLD).

Performance

NRGV vs. APLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Energy Vault Holdings, Inc. (NRGV) and Applied Digital Corporation (APLD). The values are adjusted to include any dividend payments, if applicable.

NRGV vs. APLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
NRGV Energy Vault Holdings, Inc.	-28.42%	102.19%	-2.15%	-25.32%	-66.77%
APLD Applied Digital Corporation	-3.18%	220.94%	13.35%	266.30%	-85.04%

Fundamentals

Market Cap NRGV : $554.34M APLD : $6.33B
EPS NRGV : -$0.64 APLD : -$0.51
PS Ratio NRGV : 2.64 APLD : 20.33
PB Ratio NRGV : 8.22 APLD : 4.37
Total Revenue (TTM) NRGV : $203.67M APLD : $281.74M
Gross Profit (TTM) NRGV : $47.99M APLD : $46.19M
EBITDA (TTM) NRGV : -$75.02M APLD : -$49.02M

Returns By Period

In the year-to-date period, NRGV achieves a -28.42% return, which is significantly lower than APLD's -3.18% return.

NRGV

• 1D: 2.48%
• 1M: 10.00%
• YTD: -28.42%
• 6M: 11.11%
• 1Y: 374.55%
• 3Y*: 15.53%
• 5Y*: —
• 10Y*: —

APLD

• 1D: 15.55%
• 1M: -12.94%
• YTD: -3.18%
• 6M: 3.49%
• 1Y: 322.42%
• 3Y*: 119.66%
• 5Y*: 76.65%
• 10Y*: 75.92%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

NRGV vs. APLD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

NRGV

NRGV Risk / Return Rank: 95
NRGV Sharpe Ratio Rank: 97
NRGV Sortino Ratio Rank: 93
NRGV Omega Ratio Rank: 91
NRGV Calmar Ratio Rank: 97
NRGV Martin Ratio Rank: 95

APLD

APLD Risk / Return Rank: 94
APLD Sharpe Ratio Rank: 95
APLD Sortino Ratio Rank: 93
APLD Omega Ratio Rank: 90
APLD Calmar Ratio Rank: 96
APLD Martin Ratio Rank: 94

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

NRGV vs. APLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Energy Vault Holdings, Inc. (NRGV) and Applied Digital Corporation (APLD). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	NRGV	APLD	Difference
Sharpe ratio Return per unit of total volatility	3.31	2.57	+0.73
Sortino ratio Return per unit of downside risk	3.27	3.14	+0.13
Omega ratio Gain probability vs. loss probability	1.40	1.39	+0.01
Calmar ratio Return relative to maximum drawdown	7.20	6.26	+0.94
Martin ratio Return relative to average drawdown	15.79	14.46	+1.33
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NRGV vs. APLD - Sharpe Ratio Comparison

The current NRGV Sharpe Ratio is 3.31, which is comparable to the APLD Sharpe Ratio of 2.57. The chart below compares the historical Sharpe Ratios of NRGV and APLD, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	NRGV	APLD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.31	2.57	+0.73
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.41	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.33	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.20	0.04	-0.24

Correlation

The correlation between NRGV and APLD is 0.28, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

NRGV vs. APLD - Dividend Comparison

Neither NRGV nor APLD has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

NRGV vs. APLD - Drawdown Comparison

The maximum NRGV drawdown since its inception was -97.09%, roughly equal to the maximum APLD drawdown of -99.70%. Use the drawdown chart below to compare losses from any high point for NRGV and APLD.

Drawdown Indicators

	NRGV	APLD	Difference
Max Drawdown Largest peak-to-trough decline	-97.09%	-99.70%	+2.61%
Max Drawdown (1Y) Largest decline over 1 year	-50.91%	-50.31%	-0.60%
Max Drawdown (5Y) Largest decline over 5 years	—	-97.10%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-97.10%	—
Current Drawdown Current decline from peak	-84.75%	-42.59%	-42.16%
Average Drawdown Average peak-to-trough decline	-82.94%	-84.03%	+1.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	23.22%	21.79%	+1.43%

Volatility

NRGV vs. APLD - Volatility Comparison

The current volatility for Energy Vault Holdings, Inc. (NRGV) is 23.06%, while Applied Digital Corporation (APLD) has a volatility of 32.29%. This indicates that NRGV experiences smaller price fluctuations and is considered to be less risky than APLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NRGV	APLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	23.06%	32.29%	-9.23%
Volatility (6M) Calculated over the trailing 6-month period	74.70%	77.82%	-3.12%
Volatility (1Y) Calculated over the trailing 1-year period	114.20%	126.27%	-12.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	113.73%	187.90%	-74.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	113.73%	295.81%	-182.08%

Financials

NRGV vs. APLD - Profitability Comparison

The chart below illustrates the profitability comparison between Energy Vault Holdings, Inc. and Applied Digital Corporation over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

NRGV - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Energy Vault Holdings, Inc. reported a gross profit of 31.59M and revenue of 153.31M. Therefore, the gross margin over that period was 20.6%.

APLD - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Applied Digital Corporation reported a gross profit of 26.04M and revenue of 126.59M. Therefore, the gross margin over that period was 20.6%.

NRGV - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Energy Vault Holdings, Inc. reported an operating income of -7.74M and revenue of 153.31M, resulting in an operating margin of -5.1%.

APLD - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Applied Digital Corporation reported an operating income of -30.96M and revenue of 126.59M, resulting in an operating margin of -24.5%.

NRGV - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Energy Vault Holdings, Inc. reported a net income of -20.73M and revenue of 153.31M, resulting in a net margin of -13.5%.

APLD - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Applied Digital Corporation reported a net income of -17.51M and revenue of 126.59M, resulting in a net margin of -13.8%.