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Dragonfly Energy Holdings Corp. (DFLI) fair value: what the stock is really worth

As of Sep 23, 2026: fair value of Dragonfly Energy Holdings Corp. $0.44, price $0.89, upside -50.2%, quality 26 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
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Industrials · US · ISIN US26145B4032

DE Dragonfly Energy Holdings Corp. logo Thin data Sep 24, 2026

Dragonfly Energy Holdings Corp.

DFLI · US

Weakest SetupStrongly overvalued and low quality.

!Fair value $0.4420 · Strongly overvalued (−50%)
!Quality 26/100
!Weak Growth (revenue 5y +4.4 %/yr)
!Loss-making · -129.4% net margin (TTM)
!Negative equity (buybacks among others) · negative free cash flow
!Trails peers (1/7)
!Narrow moat 12/100
!Evidence only low, so the estimate is less certain
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26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

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Price vs Fair Value

$2,257 $0.8460 Fair Value $0.4420 Aug 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.

How to read this chart

60‑month range $0.8460 – $2,257 · fair‑value band $0.3230 – $0.6545 · the $0.8880 price screens above the $0.4420 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

Dragonfly Energy Holdings Corp. engages in the manufacturing and sale of deep cycle lithium-ion batteries for recreational vehicles, marine vessels, solar and off-grid residence industries, and industrial and energy storage markets. It operates in two segments, direct-to-consumers and original equipment manufacturers.

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Dragonfly Energy Holdings Corp. engages in the manufacturing and sale of deep cycle lithium-ion batteries for recreational vehicles, marine vessels, solar and off-grid residence industries, and industrial and energy storage markets. It operates in two segments, direct-to-consumers and original equipment manufacturers. The company provides lithium power systems comprising solar panels, chargers and inverters, system monitoring, alternator regulators, accessories, and others. It also offers battery management systems for monitoring and controlling of battery systems, and to protect battery cells from damage in various scenarios, as well as battery communication system. In addition, the company offers Dragonfly IntelLigence, a communication technology that unlocks real-time monitoring, instant notifications, protocol integration, and superior battery protection. The company provides its products under the Dragonfly Energy, Battle Born, and Wakespeed brand names. It serves recreational vehicle, heavy duty trucking, industrial solar integration, oil and gas, off grid residential, backup power, marine, and work truck industries. Dragonfly Energy Holdings Corp. is headquartered in Reno, Nevada.

Stock analysis

Dragonfly Energy Holdings Corp. (DFLI) currently trades at $0.8880, while our model-based Fair Value estimate is $0.4420, implying the stock looks roughly 100.9% overvalued today.

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Valuation

How firm this estimate is: it rests on 1 models at a data quality of 96/100, which puts the evidence level at low.

Scenario range: $0.3230 (bear) to $0.6545 (bull), the price of $0.8880 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 26/100 (below-average quality), in the Industrials sector.

Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.

Dragonfly Energy Holdings Corp. reported revenue of $58.6M in FY2025 versus $78.0M in FY2021, a compound −6.9%/yr. Reported net income was −$69.9M in FY2025.

Key figures

Market cap $12.7M · P/S ratio 0.25 · EPS (TTM) $−1.70 · Net margin −119% · Return on equity −1,693% · Return on assets (EBIT) −24.9% · Operating margin −22.0% · Revenue (TTM) $51.9M.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 32 out of 100 (medium confidence).

What moves the price

The share trades about 95% below its 52-week high and 5% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Industrials peers we cover trades at −28% fair-value upside, at −50%, DFLI screens richer than that median.

Fair Value models

Bear $0.3230 Fair Value $0.4420 Bull $0.6545
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
NCAV (Graham) $0.3800 $0.5200 $0.7700 54
All 1 models by family
Asset-Based
NCAV (Graham) $0.3800 $0.5200 $0.7700 54

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Quality Score breakdown

Overall quality 26/100

Of which business quality 26 · Market factors (momentum, volatility) 15

Profitability 16
Margins and returns on capital today
Quality Growth 42
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 34
Balance sheet, leverage, solvency risk
Investment 94
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 0
Price trend over the last 3–12 months (market factor)
52W Momentum 0
Distance to the 52-week high (market factor)
Net Issuance 0
Share count: buybacks or dilution?

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Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 21/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+15.8%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−12.1%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+4.4%
Start year 2020 (pandemic)
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
18.5% (2020) → −35.0% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

DFLI screens 101% overvalued. Compare with Contemporary Amperex Technology Co →

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Electrical Equipment & Parts · 552 stocks

Beats the industry median on 1/7 measures
Overall it trails its industry peers.
Valuation
Quality Score 26 · Bottom 25%
Fair Value upside −50% · Below median
Profitability
Return on equity (TTM) Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
Return on assets −18% · Bottom 25%
Net margin (TTM) −129% · Bottom 25%
Operating margin (TTM) −22% · Bottom 25%
Growth and dividend
Revenue growth −19% · Bottom 25%
Balance sheet
Debt / equity Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.

Valuation Multiplesvs Electrical Equipment & Parts median · lower = cheaper

P/B Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
P/S (TTM) 0.25× · Cheapest 25%

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

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Hubbell Incorporated HUBB $463.70 $293.12 −37%
Shenzhen Inovance Technology Co 300124 ¥54.05 ¥47.94 −11%
nVent Electric plc NVT $162.65 $43.54 −73%
HD Hyundai Electric Co 267260 708,000 KRW 778,800 KRW +10%

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Dragonfly Energy Holdings Corp. · Fair Value
$0.4420 −101%Fair Value
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Cite: Fair Value Calculator (2026). "Dragonfly Energy Holdings Corp. Fair Value". https://www.fairvalue-calculator.com/stock/DFLI

Frequently asked questions

Is Dragonfly Energy Holdings Corp. (DFLI) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of $0.4420 versus a price of $0.8880, about −50% upside (overvalued).
What is the fair value of DFLI?
Our model-based fair value for Dragonfly Energy Holdings Corp. is $0.4420 (as of Sep 24, 2026), built from audited fundamentals. The current price: $0.8880.
What is the quality score of DFLI?
Dragonfly Energy Holdings Corp. has a Quality Score of 26/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Dragonfly Energy Holdings Corp. (DFLI)?
Our model-based price target is the fair value of $0.4420 (as of Sep 24, 2026) from 1 valuation models. Cautious scenario $0.3230, optimistic scenario $0.6545. It is a calculation from audited fundamentals, not an analyst target.
What is the Dragonfly Energy Holdings Corp. stock forecast for 2026?
Our models put fair value at $0.4420, about −50% upside versus a price of $0.8880 (overvalued). Cautious scenario $0.3230, optimistic scenario $0.6545. The calculation is refreshed regularly with new filings.
What is the revenue of Dragonfly Energy Holdings Corp. (DFLI)?
Dragonfly Energy Holdings Corp. reported trailing-twelve-month revenue of about $51.9M (latest available figure, as of Sep 24, 2026).
What is the intrinsic value of Dragonfly Energy Holdings Corp. (DFLI)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Dragonfly Energy Holdings Corp. it is $0.4420 per share (as of Sep 24, 2026), against a price of $0.8880. It is the blended result of 1 valuation models (cash flow, earnings, asset, dividend).
Is Dragonfly Energy Holdings Corp. stock overvalued or undervalued in 2026?
As of Sep 24, 2026, DFLI trades above its calculated fair value: price $0.8880, fair value $0.4420, a gap of about −50% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of DFLI?
No. The price is what the market pays today ($0.8880); the fair value is what the company's own numbers justify ($0.4420). For Dragonfly Energy Holdings Corp. the two are $0.4460 per share apart. That gap is exactly why we show both numbers side by side.
How much is Dragonfly Energy Holdings Corp. worth?
The market values Dragonfly Energy Holdings Corp. at about $12.7M (market capitalisation, as of Sep 24, 2026). Per share that is $0.8880; our models calculate a fair value of $0.4420 per share.
What do the bullish and bearish scenarios say about DFLI?
Our models span a range for Dragonfly Energy Holdings Corp.: cautious scenario $0.3230, base $0.4420, optimistic $0.6545 per share (as of Sep 24, 2026, price $0.8880). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Dragonfly Energy Holdings Corp. (DFLI)?
Balance-sheet figures for Dragonfly Energy Holdings Corp. (as of Sep 24, 2026): negative equity, so no return on equity and no debt-to-equity ratio. They feed the Quality Score of 26/100, which measures business quality independently of the share price.
How far is DFLI from its 52-week high?
Dragonfly Energy Holdings Corp. trades at $0.8880, about 95% below its 52-week high of $19.70 and 5% above the low of $0.8460 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of $0.4420 is for.
Which stocks are comparable to Dragonfly Energy Holdings Corp.?
From the same area (Industrials) we also value Contemporary Amperex Technology Co, ABB Ltd, Vertiv Holdings, Prysmian S.p.A, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Dragonfly Energy Holdings Corp. stock attractive at the current price?
The data as of Sep 24, 2026: price $0.8880, calculated fair value $0.4420 (−50%), Quality Score 26/100, from 1 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of DFLI calculated?
We run Dragonfly Energy Holdings Corp. through 1 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $0.4420, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.0 % above its aggregate fair value. Dragonfly Energy Holdings Corp. itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Dragonfly Energy Holdings Corp. (DFLI)?
The closing price on Sep 23, 2026 was $0.8880. Our model-based fair value is $0.4420, about −50% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Dragonfly Energy Holdings Corp. right now?
The price sits above even our optimistic bull case ($0.6545). The favourable scenario is already priced in. Weak quality (26/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. A fairly wide model range ($0.3230 to $0.6545) leaves room in how you read the outcome.

Key figures of Dragonfly Energy Holdings Corp.

How large is the market capitalisation of Dragonfly Energy Holdings Corp. (DFLI)?
The market capitalisation of Dragonfly Energy Holdings Corp. is $12.7M. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Dragonfly Energy Holdings Corp. (DFLI)?
The price-to-sales ratio of Dragonfly Energy Holdings Corp. is 0.25 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Dragonfly Energy Holdings Corp. (DFLI)?
Earnings per share at Dragonfly Energy Holdings Corp. are $−1.70. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Dragonfly Energy Holdings Corp. (DFLI)?
The net margin of Dragonfly Energy Holdings Corp. is −119% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Dragonfly Energy Holdings Corp. (DFLI)?
The return on equity (ROE) of Dragonfly Energy Holdings Corp. is −1,693% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Dragonfly Energy Holdings Corp. (DFLI)?
On an EBIT basis the return on assets of Dragonfly Energy Holdings Corp. is −24.9% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Dragonfly Energy Holdings Corp. (DFLI)?
The operating margin of Dragonfly Energy Holdings Corp. is −22.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Dragonfly Energy Holdings Corp. (DFLI)?
Revenue at Dragonfly Energy Holdings Corp. is growing −19.0% versus a year earlier (3y avg −12.1%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does Dragonfly Energy Holdings Corp. (DFLI) generate?
The free cash flow of Dragonfly Energy Holdings Corp. is −$27.9M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Dragonfly Energy Holdings Corp. (DFLI) carry?
The net debt of Dragonfly Energy Holdings Corp. is $14.4M (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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