ESS Tech annual debt-to-equity ratio
2021
2022
2023
2024
2025
ESS Tech Debt-to-Equity Ratio Growth & History (GWH)
ESS Tech's debt-to-equity ratio was 2.46 for fiscal 2025.
View full ESS Tech company overviewESS Tech annual debt-to-equity ratio history
| Fiscal year | Period ended | Debt-to-equity ratio | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | 2.46 | 2.40 | +4095.23% |
| 2024 | 2024-12-31 | 0.06 | 0.03 | +138.56% |
| 2023 | 2023-12-31 | 0.02 | −0.02 | −43.74% |
| 2022 | 2022-12-31 | 0.04 | 0.03 | +137.56% |
| 2021 | 2021-12-31 | 0.02 | — | — |
ESS Tech quarterly debt-to-equity ratio
Q4.21
Q1.22
Q2.22
Q3.22
Q4.22
Q1.23
Q2.23
Q3.23
Q4.23
Q1.24
Q2.24
Q3.24
Q4.24
Q1.25
Q2.25
Q4.25
Q1.26
| Fiscal quarter | Period ended | Debt-to-equity ratio | Change | YoY change |
|---|---|---|---|---|
| Q1 2026 | 2026-03-31 | 2.27 | 2.16 | +2021.74% |
| Q4 2025 | 2025-12-31 | 2.46 | 2.40 | +4095.23% |
| Q2 2025 | 2025-06-30 | 0.26 | 0.23 | +641.95% |
| Q1 2025 | 2025-03-31 | 0.11 | 0.08 | +335.62% |
| Q4 2024 | 2024-12-31 | 0.06 | 0.03 | +138.56% |
| Q3 2024 | 2024-09-30 | 0.04 | 0.02 | +69.59% |
| Q2 2024 | 2024-06-30 | 0.04 | −0.01 | −21.23% |
| Q1 2024 | 2024-03-31 | 0.02 | −0.02 | −43.92% |
| Q4 2023 | 2023-12-31 | 0.02 | −0.02 | −43.74% |
| Q3 2023 | 2023-09-30 | 0.02 | −0.02 | −41.12% |
| Q2 2023 | 2023-06-30 | 0.05 | 0.00 | +11.69% |
| Q1 2023 | 2023-03-31 | 0.04 | 0.00 | +4.73% |
| Q4 2022 | 2022-12-31 | 0.04 | 0.03 | +137.56% |
| Q3 2022 | 2022-09-30 | 0.04 | — | — |
| Q2 2022 | 2022-06-30 | 0.04 | — | — |
| Q1 2022 | 2022-03-31 | 0.04 | — | — |
| Q4 2021 | 2021-12-31 | 0.02 | — | — |
ESS Tech debt-to-equity ratio trends
Between the periods ended 2021-12-31 and 2025-12-31, ESS Tech's debt-to-equity ratio increased from 0.02 to 2.46, a change of 2.44. The latest reported quarter, Q1 2026, shows 2.27.
About the metric
What the debt-to-equity ratio means
The debt-to-equity ratio compares interest-bearing debt with shareholders’ equity. It helps show how much debt financing a company uses relative to its accounting equity, but useful comparison levels vary by industry.
Calculation and source
How debt-to-equity is calculated
TickerStat calculates debt-to-equity as total interest-bearing debt divided by SEC-reported shareholders’ equity for the same balance-sheet date. Total liabilities are not treated as debt, and periods with non-positive equity are omitted. Fiscal periods can differ from calendar years, so exact period-end dates are included.
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