ESS Tech, Inc. (GWH) Fair Value 2026

GWH · Electrical Equipment & Parts ·

By CirclFi Research Team · Data from SEC EDGAR, FRED & GDELT

Quality Score

5.0 /10

32 fundamental signals · 2 models active

Value Trap Risk

LOW (38/100)

Quick Summary — As of 2026-08-28, ESS Tech, Inc. (GWH) trades at $0.35, versus a $0.77 median fair value across its 2 active models — 119.1% above the current price. QOC: 5.0/10. Value Trap Risk: 38/100 (LOW). 2/13 models active.

Key Facts

Ticker
GWH
Price
$0.35
Quality Score
5.0/10
Value Trap Risk
38/100
Models Active
2/13
Last Updated
Strength: Dynamic NAV suggests +151.8% upside with 52% confidence
Risk: Below-average Quality Score of 5.0/10 signals weak fundamentals

Is ESS Tech, Inc. (GWH) Undervalued or Overvalued in 2026?

According to CirclFi’s 2-model valuation engine, ESS Tech, Inc. (GWH) appears undervalued as of : the median of 2 independent fair value estimates is $0.77, 119.1% above the current price of $0.35. Estimates range from $0.65 to $0.88. GWH scores 5.0/10 on fundamental quality and 38/100 on value-trap risk.

For context, the median US equity CirclFi rates trades at an implied -23.4% versus its own 13-model consensus, across 3,809 rated companies as of 2026-08-28. GWH’s +119.1% gap is wider than that market norm, and the Electrical Equipment & Parts sector median is -34.8%. Full market index →

This verdict compares price to intrinsic value only — it is not a buy or sell rating. For the decision case (bull vs bear arguments, risk factors, peers), read Should You Buy ESS Tech, Inc. Stock in 2026? →

What Fair Value Does Each Model Give GWH?

2 Intrinsic Value Models vs. Current Price ($0.35)

Core Models (Unlocked)
Model Fair Value Upside
Asset-Based · High Conviction
 $0.88 +151.8%
Option-Based · Medium Conviction
 $0.65 +86.4%

All Models Active

All 2 models are displayed above.

What Is ESS Tech, Inc. (GWH) Worth in 2026?

According to the CirclFi Deep Alpha Valuation Engine, ESS Tech, Inc. is potentially undervalued at its current price of $0.35. Based on our 13-model framework, ESS Tech, Inc.'s intrinsic value is estimated at a median fair value of $0.77 — representing +119.1% implied upside — with 2 out of 2 active models confirming this thesis. Model dispersion is worth noting: Dynamic NAV targets $0.88 (+151.8%), versus PWERM at $0.65 (+86.4%). This +65.4% range highlights the importance of multi-model analysis rather than relying on any single methodology.

What Do the Models Say About GWH?

2 of 13 models are currently active for GWH. All 2 active models suggest the stock trades below fair value. Taken together, their median fair value for GWH is $0.77 — the figure CirclFi publishes as this stock's fair value. See which stocks rank higher →

How Does GWH Rank in Electrical Equipment & Parts?

Among 57 Electrical Equipment & Parts stocks, GWH ranks #39 by Quality of Company score. CirclFi's QOC score of 5.0/10 evaluates 32 fundamental signals. A score of 5.0 reflects mixed fundamentals.

See all Most Undervalued Electrical Equipment & Parts Stocks →

The Electrical Equipment & Parts sector introduces analytical considerations specific to power and energy company businesses. For ESS Tech, Inc., metrics like renewable generation mix provide important context that general-purpose valuation models may underweight.

Is GWH a Value Trap?

CirclFi's Value Trap algorithm assigns GWH a score of 38/100 (LOW). This indicates low risk. The financial profile does not exhibit typical value trap warning signs. The score cross-references apparent undervaluation against fundamental deterioration signals. Browse lowest value-trap stocks →

Multi-Model Methodology

2 of 13 models are active for ESS Tech, Inc.. Limited activation may indicate insufficient history. Each model applies a fundamentally different valuation philosophy. See the complete methodology →

According to the CirclFi Quality of Company (QOC) framework, ESS Tech, Inc. earns a quality score of 5.0/10. This mixed rating reflects the company's standing across 32 fundamental signals spanning profitability, growth consistency, balance sheet strength, and capital allocation efficiency.

The gap between the most bullish and bearish model spans +65.4% — demonstrating why single-model analysis is dangerous. Browse all stocks with 13-model coverage →

Data Sources & Confidence

Every GWH valuation is built from SEC EDGAR XBRL filings — 700+ standardized financial tags. Macroeconomic context from FRED calibrates discount rates, while GDELT news sentiment feeds into our Sentiment SOTP model. All pipelines run daily. Read the complete data methodology →

Across GWH's 2 active models, average confidence is 41%. Lower confidence may reflect limited history or high volatility.

CirclFi's output is a research starting point, not a buy/sell signal. All data updates daily. Read the full methodology →

This analysis is produced by the CirclFi Valuation Engine using quantitative models applied to SEC EDGAR filings, public market feeds, and FRED macroeconomic indicators. It is not financial advice.

Read the full investment analysis: Should You Buy ESS Tech, Inc. Stock in 2026? →

Bull case, bear case, risk factors & peer comparison — updated daily

Which Similar Electrical Equipment & Parts Stocks Should You Also Analyze?

11 related Electrical Equipment & Parts stocks with 13-model coverage

NVXNOVONIX LimitedQOC 5.0TOGITurnOnGreen, IncQOC 4.9STISolidion Technology, Inc.QOC 5.1LTBRLightbridge CorporationQOC 4.9TET1 Energy Inc.QOC 5.1POLAPolar Power, Inc.QOC 4.8ELVAElectrovaya Inc.QOC 2.5PLPCPreformed Line Products CompanyQOC 8.1OESXOrion Energy Systems, Inc.QOC 6.1POWLPowell Industries, Inc.QOC 9.6VRTVertiv Holdings CoQOC 9.2

Read investment analysis: NVX · TOGI · STI · LTBR · TE · POLA · ELVA · PLPC · OESX · POWL · VRT

Which Other Stocks Have a Similar Quality Score to GWH?

7 companies across all industries closest to GWH’s Quality of Company score of 5.0/10.

MTRMesa Royalty TrustQOC 5.0COGTCogent Biosciences, Inc.QOC 5.0GHRSGH Research PLCQOC 5.0STRZStarz Entertainment Corp.QOC 5.0DRUGBright Minds Biosciences Inc.QOC 5.0WLDSWearable Devices Ltd.QOC 5.0NVDANVIDIA CorporationQOC 10.0

Read investment analysis: MTR · COGT · GHRS · STRZ · DRUG · WLDS · NVDA

Where Does GWH Sit in CirclFi's Electrical Equipment & Parts Rankings?

GWH is ranked against every other Electrical Equipment & Parts stock CirclFi covers in each of these screens.

See all Electrical Equipment & Parts stocks ranked →

What Else Do Investors Ask About ESS Tech, Inc.’s Valuation?

What is ESS Tech, Inc.'s intrinsic value in 2026?

CirclFi puts ESS Tech, Inc. (GWH)'s intrinsic value at $0.77 — the median of 2 independent model estimates as of 2026-08-28, ranging from $0.65 to $0.88. The Quality of Company score is 5.0/10 across 32 fundamental signals. All models use SEC EDGAR filings updated daily. See our methodology page for how each model works.

Is GWH overvalued or undervalued right now?

At $0.35, 2 of 2 active models suggest GWH may be undervalued, while 0 indicate potential overvaluation. The median of all 2 fair value estimates is $0.77, 119.1% above the current price of $0.35 — a consensus view that GWH is undervalued. The assessment depends on which methodology best fits ESS Tech, Inc.'s business model in Electrical Equipment & Parts.

What does a Quality of Company score of 5.0 mean for GWH?

ESS Tech, Inc.'s QOC of 5.0/10 reflects 32 fundamental signals: profitability margins, revenue growth consistency, balance sheet leverage, free cash flow generation, and capital allocation efficiency. Scores between 5-7 reflect moderate fundamentals with areas for improvement.

How many valuation models does CirclFi run on GWH?

CirclFi analyzes GWH with 13 institutional-grade models daily: Bayesian DCF (Monte Carlo + jump-diffusion), EPV (Greenwald zero-growth), EROIC Spread (McKinsey reinvestment), First Chicago (3-scenario), Markov DDM (regime-switching), ML-RIV (machine learning residual income), Dynamic NAV (asset-based), PWERM (option-theoretic), Regime Cross-Sectional (relative), Sentiment SOTP (hybrid), CUCE Ensemble (meta-model), FTNN Topology (neural network), and RCMH-DCF (conditional regime). Currently 2 of 13 are active for this stock. Read the full methodology →

Is GWH a value trap in 2026?

ESS Tech, Inc.'s Value Trap score is 38/100 (LOW). This low score indicates the current valuation is not artificially depressed by fundamental deterioration, suggesting genuine opportunity rather than a trap. Browse stocks by value-trap risk →

Cite this analysis — “According to CirclFi’s 2-model valuation engine, ESS Tech, Inc. (GWH) has a median fair value of $0.77 — 119.1% above the current price of $0.35 — as of 2026-08-28.” Source: circlfi.com/stock/GWH/ · Methodology
Primary sources for this GWH valuation
  • Financial statements: ESS Tech, Inc. 10-K and 10-Q filings on SEC EDGAR (CIK 0001819438) — 700+ standardized XBRL tags, published by the U.S. Securities and Exchange Commission.
  • Discount-rate inputs: FRED, Federal Reserve Bank of St. Louis — risk-free rates, VIX, yield curve, inflation.
  • News sentiment: The GDELT Project — global media tone, input to the Sentiment SOTP model.
  • Model definitions: CirclFi methodology — the published specification for all 13 models, including the academic sources each one implements.

Market data for GWH as of ; valuations recomputed .