(DFLI) Chardan NexTech Acquisition - Overview

Exchange: NASDAQ • Country: United States • Currency: USD • Type: Common Stock • ISIN: US26145B3042

Stock: Lithium-Ion Batteries, Battery Management Systems, Solar Panels, Inverters

Total Rating 20

Risk 44

Buy Signal 0.02

Electrical Equipment & Parts » Industrial Machinery & Supplies & Components
Age: 3.3y

Market Cap: 33m
Avg Trading Vol: 2.27M USD

ATR: 15.81%
Peers RS (IBD): 3.51

EPS (Earnings per Share)

EPS CAGR: -3.07%
EPS Trend: -52.8%

Last SUE: -0.30
Qual. Beats: 0

Revenue

Rev. CAGR: -6.05%
Rev. Trend: -65.2%

Last SUE: 2.04
Qual. Beats: 2

Risk 5d forecast
Volatility	168%
Relative Tail Risk	-20.9%

Reward TTM
Sharpe Ratio	-0.06
Alpha	-105.66

Character TTM
Beta	1.206
Beta Downside	2.339

Drawdowns 3y
Max DD	99.78%
CAGR/Max DD	-0.85

Description: DFLI Chardan NexTech Acquisition December 23, 2025

Dragonfly Energy Holdings Corp. (NASDAQ: DFLI) designs, manufactures, and sells deep-cycle lithium-ion batteries and associated power-system components for recreational-vehicle (RV), marine, solar/off-grid, industrial, and utility-scale energy-storage markets. The business operates through two channels: a direct-to-consumer (DTC) storefront and an original-equipment-manufacturer (OEM) supply line, delivering complete power solutions that include batteries, solar panels, chargers, inverters, monitoring hardware, and battery-management systems. Its product portfolio is marketed under the Dragonfly Energy, Battle Born, and Wakespeed brands, and the company is headquartered in Reno, Nevada.

Key sector and company metrics (as of the most recent 10-K filing, FY 2023):

Revenue of roughly **$9.5 million**, a 45 % YoY increase driven primarily by expanding DTC sales in the RV segment.
Gross margin around **30 %**, reflecting higher-margin battery-management and inverter sales, but still below the 40-45 % typical of larger lithium-cell manufacturers.
Installed production capacity estimated at **≈20 MWh / year**, sufficient for current demand but requiring scaling to capture larger utility-scale contracts.

Economic and industry drivers:

The U.S. **Inflation Reduction Act** and state-level clean-energy incentives are subsidizing residential and commercial storage, expanding the addressable market for off-grid and solar-plus-storage solutions.
Lithium-ion battery pack prices have continued to **decline ~10 % YoY** (S&P Global data), improving unit economics for both DTC and OEM customers.
Domestic RV sales are projected to grow **≈8 % CAGR through 2028**, providing a tailwind for Dragonfly’s high-power-draw applications.

Assuming the company can sustain its current capacity expansion and leverage incentive-driven demand, the upside potential hinges on **achieving economies of scale** and **broadening OEM partnerships** beyond niche marine and RV OEMs. However, competitive pressure from larger battery producers (e.g., Tesla, LG Energy Solution) and the need for significant capital to increase production capacity introduce material execution risk.

For a deeper quantitative view of DFLI’s valuation metrics and peer comparisons, the ValueRay platform offers a concise dashboard of forward cash-flow estimates and risk-adjusted returns.

Piotroski VR‑10 (Strict, 0-10) 3.5

Net Income: -34.7m TTM > 0 and > 6% of Revenue
FCF/TA: -0.22 > 0.02 and ΔFCF/TA -13.19 > 1.0
NWC/Revenue: 15.29% < 20% (prev -20.31%; Δ 35.60% < -1%)
CFO/TA -0.19 > 3% & CFO -13.7m > Net Income -34.7m
Net Debt/EBITDA: error (EBITDA <= 0)
Current Ratio: 1.34 > 1.5 & < 3
Outstanding Shares: last quarter (561.6k) vs 12m ago -18.91% < -2%
Gross Margin: 27.36% > 18% (prev 0.23%; Δ 2713 % > 0.5%)
Asset Turnover: 73.27% > 50% (prev 58.26%; Δ 15.01% > 0%)
Interest Coverage Ratio: -0.52 > 6 (EBITDA TTM -7.78m / Interest Expense TTM 22.8m)

Altman Z'' -6.14

A: 0.12 (Total Current Assets 34.5m - Total Current Liabilities 25.7m) / Total Assets 73.8m
B: -1.45 (Retained Earnings -107.1m / Total Assets 73.8m)
C: -0.15 (EBIT TTM -11.9m / Avg Total Assets 78.9m)
D: -1.12 (Book Value of Equity -107.0m / Total Liabilities 95.4m)
Altman-Z'' Score: -6.14 = D

Beneish M -3.18

DSRI: 1.09 (Receivables 4.79m/3.73m, Revenue 57.8m/48.9m)
GMI: 0.83 (GM 27.36% / 22.76%)
AQI: 1.15 (AQ_t 0.01 / AQ_t-1 0.01)
SGI: 1.18 (Revenue 57.8m / 48.9m)
TATA: -0.28 (NI -34.7m - CFO -13.7m) / TA 73.8m)
Beneish M-Score: -3.18 (Cap -4..+1) = AA

What is the price of DFLI shares?

As of February 09, 2026, the stock is trading at USD 2.88 with a total of 556,337 shares traded.
Over the past week, the price has changed by +11.20%, over one month by -28.89%, over three months by -67.53% and over the past year by -88.00%.

Is DFLI a buy, sell or hold?

Chardan NexTech Acquisition has received a consensus analysts rating of 4.50. Therefore, it is recommended to buy DFLI.

StrongBuy: 1
Buy: 1
Hold: 0
Sell: 0
StrongSell: 0

What are the forecasts/targets for the DFLI price?

Issuer	Target	Up/Down from current
Wallstreet Target Price	18.8	551%
Analysts Target Price	18.8	551%
ValueRay Target Price	3.3	14.2%

DFLI Fundamental Data Overview February 05, 2026

P/S = 0.5728
P/B = 6.3352
Revenue TTM = 57.8m USD
EBIT TTM = -11.9m USD
EBITDA TTM = -7.78m USD
Long Term Debt = 44.5m USD (from longTermDebt, last quarter)
Short Term Debt = 3.79m USD (from shortTermDebt, last quarter)
Debt = 69.5m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 65.7m USD (from netDebt column, last quarter)
Enterprise Value = 98.8m USD (33.1m + Debt 69.5m - CCE 3.84m)
Interest Coverage Ratio = -0.52 (Ebit TTM -11.9m / Interest Expense TTM 22.8m)
EV/FCF = -5.96x (Enterprise Value 98.8m / FCF TTM -16.6m)
FCF Yield = -16.78% (FCF TTM -16.6m / Enterprise Value 98.8m)
FCF Margin = -28.67% (FCF TTM -16.6m / Revenue TTM 57.8m)
Net Margin = -60.13% (Net Income TTM -34.7m / Revenue TTM 57.8m)
Gross Margin = 27.36% ((Revenue TTM 57.8m - Cost of Revenue TTM 42.0m) / Revenue TTM)
Gross Margin QoQ = 29.66% (prev 28.34%)
Tobins Q-Ratio = 1.34 (Enterprise Value 98.8m / Total Assets 73.8m)
Interest Expense / Debt = 9.22% (Interest Expense 6.41m / Debt 69.5m)
Taxrate = 21.0% (US default 21%)
NOPAT = -9.43m (EBIT -11.9m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 1.34 (Total Current Assets 34.5m / Total Current Liabilities 25.7m)
Debt / Equity = -3.22 (negative equity) (Debt 69.5m / totalStockholderEquity, last quarter -21.6m)
Debt / EBITDA = -8.44 (negative EBITDA) (Net Debt 65.7m / EBITDA -7.78m)
Debt / FCF = -3.96 (negative FCF - burning cash) (Net Debt 65.7m / FCF TTM -16.6m)
Total Stockholder Equity = -15.8m (last 4 quarters mean from totalStockholderEquity)
RoA = -44.06% (Net Income -34.7m / Total Assets 73.8m)
RoE = 219.8% (negative equity) (Net Income TTM -34.7m / Total Stockholder Equity -15.8m)
RoCE = -41.55% (EBIT -11.9m / Capital Employed (Equity -15.8m + L.T.Debt 44.5m))
RoIC = -44.65% (negative operating profit) (NOPAT -9.43m / Invested Capital 21.1m)
WACC = 8.28% (E(33.1m)/V(102.6m) * Re(10.36%) + D(69.5m)/V(102.6m) * Rd(9.22%) * (1-Tc(0.21)))
Discount Rate = 10.36% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -100.0 | Cagr: -71.04%
Fair Price DCF = unknown (Cash Flow -16.6m)
EPS Correlation: -52.78 | EPS CAGR: -3.07% | SUE: -0.30 | # QB: 0
Revenue Correlation: -65.22 | Revenue CAGR: -6.05% | SUE: 2.04 | # QB: 2
EPS next Quarter (2026-03-31): EPS=-0.30 | Chg30d=N/A | Revisions Net=+0 | Analysts=1
EPS next Year (2026-12-31): EPS=-1.75 | Chg30d=+12.850 | Revisions Net=+0 | Growth EPS=+85.9% | Growth Revenue=+30.3%

Additional Sources for DFLI Stock

News: Wall Street Journal | Benzinga | Yahoo Finance
Fund Manager Positions: Dataroma | Stockcircle