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Electrical equipment & parts · Industrials · Fiscal year ends Mar 31
EnerSys reported revenue of $3.8B in the fiscal year ended Mar 2026, up 3.7% from the year before. Operating income was $426M, an operating margin of 11.4%, and net income was $294M. Operating cash flow of $548M less capital expenditure of $80M left free cash flow of $468M. Net debt was $670M.
Ranks among the 16 electrical equipment & parts companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Revenue | 3,357 | 3,709 | 3,582 | 3,618 | 3,751 |
| Cost of revenue | 2,605 | – | – | – | – |
| Gross profit | 750 | 840 | 983 | 1,092 | 1,098 |
| Operating income | 206 | 278 | 352 | 465 | 426 |
| Interest expense | 37.8 | 59.5 | 50.0 | 51.1 | 50.5 |
| Pre-tax income | 174 | 211 | 292 | 407 | 347 |
| Income tax | 30.0 | 34.8 | 23.1 | 42.8 | 53.8 |
| Net income | 144 | 176 | 269 | 364 | 294 |
| Diluted EPS | 3.36 | 4.25 | 6.50 | 8.99 | 7.70 |
| Diluted shares | 42.8 | 41.3 | 41.4 | 40.4 | 38.1 |
| Fiscal year | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Cash & equivalents | 402 | 347 | 333 | 343 | 439 |
| Receivables | 719 | 638 | 525 | 598 | 506 |
| Inventory | 716 | 798 | 698 | 740 | 725 |
| Current assets | 1,993 | 1,896 | 1,783 | 2,090 | 2,142 |
| Net PP&E | 503 | 513 | 532 | 592 | 593 |
| Goodwill | 701 | 677 | 683 | 721 | 752 |
| Total assets | 3,737 | 3,617 | 3,466 | 3,971 | 4,003 |
| Payables | 393 | 379 | 369 | 406 | 354 |
| Deferred revenue | 27.9 | 34.6 | 27.6 | 28.8 | 48.1 |
| Current liabilities | 738 | 718 | 724 | 775 | 804 |
| Short-term debt | 55.1 | 30.6 | 30.4 | 28.5 | 29.2 |
| Long-term debt | 1,243 | 1,042 | 802 | 1,084 | 1,080 |
| Total liabilities | 2,243 | 2,013 | 1,709 | 2,052 | 2,094 |
| Shareholders' equity | 1,489 | 1,600 | 1,754 | 1,916 | 1,905 |
| Backlog (remaining obligations) | 199 | 138 | 147 | 174 | 213 |
| Fiscal year | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Operating cash flow | −65.6 | 280 | 457 | 260 | 548 |
| Capital expenditure | 74.0 | 88.8 | 86.4 | 121 | 80.1 |
| Free cash flow | −140 | 191 | 371 | 139 | 468 |
| Depreciation & amortisation | 95.9 | 91.2 | 92.0 | 101 | 114 |
| Stock-based compensation | 24.3 | 26.4 | 30.6 | 27.8 | 37.6 |
| Acquisitions | 0.0 | 0.0 | 8.3 | 206 | 12.7 |
| Share buybacks | 156 | 22.9 | 95.7 | 154 | 371 |
| Dividends paid | 29.4 | 28.5 | 34.5 | 37.5 | 38.1 |
| Dividend per share | 0.70 | 0.70 | 0.85 | 0.95 | 1.03 |
| Fiscal year | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 10.5% | −3.4% | 1.0% | 3.7% |
| Operating income growth (YoY) | – | 35.0% | 26.3% | 32.2% | −8.2% |
| EPS growth (YoY) | – | 26.5% | 52.9% | 38.3% | −14.3% |
| Gross margin | 22.3% | 22.7% | 27.4% | 30.2% | 29.3% |
| Operating margin | 6.1% | 7.5% | 9.8% | 12.8% | 11.4% |
| Net margin | 4.3% | 4.7% | 7.5% | 10.1% | 7.8% |
| Return on equityBlank when equity is negative | 9.7% | 11.0% | 15.3% | 19.0% | 15.4% |
| ROCEEBIT ÷ (assets − current liabilities) | 6.9% | 9.6% | 12.8% | 14.5% | 13.3% |
| Free cash flow margin | −4.2% | 5.2% | 10.3% | 3.8% | 12.5% |
| Cash conversion (CFO ÷ net income) | −0.46x | 1.59x | 1.70x | 0.72x | 1.87x |
| Receivable days | 78 | 63 | 53 | 60 | 49 |
| Inventory days | 100 | 102 | 98 | 107 | 100 |
| Payable days | 55 | 48 | 52 | 59 | 49 |
| Interest cover | 5.46x | 4.68x | 7.04x | 9.09x | 8.44x |
| Debt ÷ equity | 0.87x | 0.67x | 0.47x | 0.58x | 0.58x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | 896 | 726 | 499 | 769 | 670 |
| Current ratio | 2.70x | 2.64x | 2.46x | 2.70x | 2.66x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.