# NET Power Inc. (NPWR) · Edgar & Edgarette company card

> NET Power (NPWR) saw revenue fall 100% in FY2025 to $0 million, operating margin null against a 5.2% median for electrical industrial apparatus, equity 34.0% of assets. Every figure is from the company’s own annual report filed with the SEC.

SEC CIK 1845437 · fiscal year ended 2025-12-31 · 3 audited years read · [page](https://www.pops4.com/boards/company/NPWR) · [JSON](https://www.pops4.com/boards/company/NPWR.json)

## Figures, as filed in the 10-K

| Measure | Value |
|---|---|
| Revenue | $0 |
| Revenue growth, 1 year | -100.0% |
| Revenue growth per year | — |
| Operating margin | -Infinity% (prior year -72528.4%) |
| Net margin | -Infinity% |
| Operating cash flow | −$121M |
| Capital spending | $33M |
| Free cash flow | −$154M |
| Cash | $199M |
| Long-term debt | — |
| Total assets | $600M |
| Total equity | $204M |
| Equity ÷ assets | 34.0% |
| Return on equity | -820.7% |
| Dividend per share | — |
| Dividend years rising | — |

## Readings, computed from those figures

- Altman Z: -17.29 (distress zone)
- Piotroski F: 2 of 9 (weak)
- Health Harbor boat: Weathered boat · two warning signs · operating cash flow was negative (-$120.8M in FY2025); operating loss: a margin of -Infinity% in FY2025

## Edgarette's reading

Exposure: revenue $0K (FY2025). Experience: revenue down 100.0% on the year; operating margin null, down from -72528.4%. Soundness: equity 34.0% of assets, return on equity -820.7%. Credibility: 3 audited years, moderate weight. Range: 80% of past cases like this landed between $0K and $0K next year (method v3, set from 749 SEC company-years; on a year the method never saw, 83% landed inside). A statistical range, not company guidance. Against peers (8 filers, $50M+ revenue, its industry group): operating margin null against a 5.2% median; growth -100.0% against 7.5%.

Range logged 2026-09-20, receipt f09eb8b5212a3597, status open. A statistical range, not company guidance.

## Health Watch, last 12 months

- Item 5.02 Director or officer change: 1, latest 2026-04-13 ([filing](https://www.sec.gov/Archives/edgar/data/1845437/000184543726000013/0001845437-26-000013-index.htm))

## Recent filings

- 8-K · filed 2026-10-22 · 1.01 Entry into a Material Definitive Agreement; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1845437/000110465926118155/0001104659-26-118155-index.htm)
- 8-K · filed 2026-09-11 · 1.01 Entry into a Material Definitive Agreement; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1845437/000110465926107045/0001104659-26-107045-index.htm)
- 8-K · filed 2026-09-03 · 1.01 Entry into a Material Definitive Agreement; 2.01 Completion of Acquisition or Disposition of Assets; 7.01 Regulation FD Disclosure; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1845437/000110465926105072/0001104659-26-105072-index.htm)
- 10-Q · filed 2026-08-13 · [filing](https://www.sec.gov/Archives/edgar/data/1845437/000184543726000033/0001845437-26-000033-index.htm)
- 8-K · filed 2026-08-13 · 2.02 Results of Operations and Financial Condition; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1845437/000184543726000031/0001845437-26-000031-index.htm)
- 8-K · filed 2026-06-05 · 5.07 Submission of Matters to a Vote of Security Holders · [filing](https://www.sec.gov/Archives/edgar/data/1845437/000184543726000023/0001845437-26-000023-index.htm)

## Sources

- facts: https://data.sec.gov/api/xbrl/companyfacts/CIK0001845437.json
- filings: https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1845437

## Cite

POPS4, Edgar & Edgarette: NET Power Inc. (NPWR) company card, from the company's own SEC filings, accessed 2026-11-04, https://www.pops4.com/boards/company/NPWR. CC BY 4.0. For a figure, add the filing URL under filings or sources.

DOI https://doi.org/10.5281/zenodo.23672509 · catalog https://www.pops4.com/boards/catalog.json · Figures as filed with the SEC. Card text CC BY 4.0, POPS4.

Reporting, not investment advice. No price targets and no trading recommendations.

Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.