Nickel-cobalt oxide is synthesized in combination with electrochemically reduced graphene oxide (Er-GO) by one-step electrodeposition on stainless steel followed by thermal treatment. The presence of reduced graphene oxide leads to enhanced electrochemical response, with a capacity increase from 113 mA h g−1 to 180 mA h g−1, and to increased faradaic efficiency and rate capability. Compared to Ni-Co oxide, the addition of reduced graphene oxide increases capacity retention from 58% to 83% after 5000 cycles. The material fade during cycling is studied by means of electrochemical impedance spectroscopy, electron diffraction spectroscopy and scanning electron microscopy. As a result, different degradation mechanisms are identified as source of the capacity decay, such as microstructural cracking, phase transformation and parasitic reactions.