vs
Side-by-side financial comparison of ESS Tech, Inc. (GWH) and Hafnia Ltd (HAFN). Click either name above to swap in a different company.
ESS Tech, Inc. (ticker GWH) is a leading provider of long-duration stationary energy storage solutions, specializing in safe, non-toxic iron flow battery systems. It serves utility, commercial, and industrial customers across North America and Europe, supporting renewable energy integration, grid stability, and global decarbonization initiatives.
Hafnia Ltd is a leading global shipping firm focused on operating product and chemical tanker fleets. It transports diverse bulk liquid cargoes including refined petroleum products, specialty chemicals, and edible oils, catering to clients across the energy, chemical manufacturing, and agricultural commodity industries worldwide.
GWH vs HAFN — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2024
| Metric | | |
|---|---|---|
| Revenue | $-1.6M | $31.0K |
| Net Profit | — | — |
| Gross Margin | 610.8% | — |
| Operating Margin | 1126.8% | — |
| Net Margin | — | — |
| Revenue YoY | -155.7% | — |
| Net Profit YoY | — | — |
| EPS (diluted) | $-1.21 | — |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $-1.6M | — | ||
| Q3 25 | $214.0K | — | ||
| Q2 25 | $2.4M | — | ||
| Q1 25 | $599.0K | — | ||
| Q4 24 | $2.9M | — | ||
| Q3 24 | $359.0K | — | ||
| Q2 24 | $348.0K | — | ||
| Q1 24 | $2.7M | $31.0K |
| Q4 25 | — | — | ||
| Q3 25 | $-10.4M | — | ||
| Q2 25 | $-11.1M | — | ||
| Q1 25 | $-18.0M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $-22.5M | — | ||
| Q2 24 | $-21.9M | — | ||
| Q1 24 | $-18.3M | — |
| Q4 25 | 610.8% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | -216.3% | — | ||
| Q1 25 | -1360.1% | — | ||
| Q4 24 | -462.7% | — | ||
| Q3 24 | -3449.0% | — | ||
| Q2 24 | — | — | ||
| Q1 24 | -306.4% | — |
| Q4 25 | 1126.8% | — | ||
| Q3 25 | -4584.6% | — | ||
| Q2 25 | -490.1% | — | ||
| Q1 25 | -3029.4% | — | ||
| Q4 24 | -824.5% | — | ||
| Q3 24 | -6596.7% | — | ||
| Q2 24 | -6645.1% | — | ||
| Q1 24 | -712.0% | — |
| Q4 25 | — | — | ||
| Q3 25 | -4848.1% | — | ||
| Q2 25 | -468.9% | — | ||
| Q1 25 | -3009.3% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | -6265.5% | — | ||
| Q2 24 | -6304.6% | — | ||
| Q1 24 | -668.7% | — |
| Q4 25 | $-1.21 | — | ||
| Q3 25 | $-0.73 | — | ||
| Q2 25 | $-0.90 | — | ||
| Q1 25 | $-1.50 | — | ||
| Q4 24 | $-1.98 | — | ||
| Q3 24 | $-1.90 | — | ||
| Q2 24 | $-1.87 | — | ||
| Q1 24 | $-1.57 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $14.5M | — |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $8.6M | — |
| Total Assets | $51.2M | — |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $14.5M | — | ||
| Q3 25 | $3.5M | — | ||
| Q2 25 | $797.0K | — | ||
| Q1 25 | $8.4M | — | ||
| Q4 24 | $13.3M | — | ||
| Q3 24 | $12.8M | — | ||
| Q2 24 | $36.7M | — | ||
| Q1 24 | $36.3M | — |
| Q4 25 | $8.6M | — | ||
| Q3 25 | $-1.8M | — | ||
| Q2 25 | $3.3M | — | ||
| Q1 25 | $12.1M | — | ||
| Q4 24 | $28.9M | — | ||
| Q3 24 | $49.2M | — | ||
| Q2 24 | $69.0M | — | ||
| Q1 24 | $87.8M | — |
| Q4 25 | $51.2M | — | ||
| Q3 25 | $36.1M | — | ||
| Q2 25 | $39.6M | — | ||
| Q1 25 | $53.6M | — | ||
| Q4 24 | $71.8M | — | ||
| Q3 24 | $96.7M | — | ||
| Q2 24 | $111.1M | — | ||
| Q1 24 | $123.6M | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-13.9M | — |
| Free Cash FlowOCF − Capex | $-16.2M | — |
| FCF MarginFCF / Revenue | 1018.1% | — |
| Capex IntensityCapex / Revenue | -145.7% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-54.5M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-13.9M | — | ||
| Q3 25 | $-5.8M | — | ||
| Q2 25 | $-12.4M | — | ||
| Q1 25 | $-18.2M | — | ||
| Q4 24 | $-20.5M | — | ||
| Q3 24 | $-17.6M | — | ||
| Q2 24 | $-15.2M | — | ||
| Q1 24 | $-18.9M | — |
| Q4 25 | $-16.2M | — | ||
| Q3 25 | $-6.3M | — | ||
| Q2 25 | $-13.1M | — | ||
| Q1 25 | $-19.0M | — | ||
| Q4 24 | $-23.9M | — | ||
| Q3 24 | $-19.9M | — | ||
| Q2 24 | $-15.8M | — | ||
| Q1 24 | $-19.9M | — |
| Q4 25 | 1018.1% | — | ||
| Q3 25 | -2920.6% | — | ||
| Q2 25 | -555.0% | — | ||
| Q1 25 | -3172.0% | — | ||
| Q4 24 | -840.2% | — | ||
| Q3 24 | -5534.8% | — | ||
| Q2 24 | -4549.7% | — | ||
| Q1 24 | -725.5% | — |
| Q4 25 | -145.7% | — | ||
| Q3 25 | 194.9% | — | ||
| Q2 25 | 30.9% | — | ||
| Q1 25 | 127.2% | — | ||
| Q4 24 | 121.8% | — | ||
| Q3 24 | 629.0% | — | ||
| Q2 24 | 175.9% | — | ||
| Q1 24 | 34.8% | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
