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Bloom Energy Corporation

BE Industrials Electrical Equipment & Parts

Bloom Energy Corporation’s revenue for fiscal 2025 (year ended December 2025) was $2.0 billion, up 37.3% from fiscal 2024.

Revenue
+138.1%
EPS
+950.0%
Free cash flow
−2,550.8%
Total debt
+95.1%

Quarter to September 2026, against a year earlier

171.51 28.89 −14.42%
Market cap
$49.5B
P/E
96.4×
Fwd P/E
76.1×
Dividend yield
—
F-score
4/9
Altman Z
3.57
Beneish M
−2.70
Dividend safety
31/100
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Insider Decisions last twelve months

Sold, $m 146.97
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell 2 — 7 5 4 6 4 1 6 4 1 2
Insider Ownership 5.70%

Capital & Financial Ratios $m

Size
Market Cap 49,530.00
Revenue ttm 3,829.94
Net income ttm 522.95
Free cash flow ttm 436.95
Net debt Q 131.11
Valuation
P/E 96.35 (above 35: high)
Forward P/E 76.10 (above 35: high)
Price / sales 13.20 (above 10: high)
Forward P/S Powerpack
Price / FCF 116.22
Price / book 25.75 (above 6: high)
Financial health
Current ratio Q 3.74 (at or above 1.5: strong)
Debt / equity Q 1.33
Interest coverage Q 29.96
Growth
Revenue growth Q +138.10% (above 0%: growing)
Operating income growth Q +2,773.46% (above 0%: growing)
EPS, this year +319.61% (at or above 15%: strong)
EPS, next year A +67.48% (at or above 15%: strong)
Revenue, next year A +123.77% (at or above 10%: strong)
EPS, past 5 yrs —
EPS, next 5 yrs A +124.59% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 13.2×, against a ten-year median of 3.6×; over the ten years it ranged from 1.2× in 2019 to 32.9× in 2026.
P/S against its own 10 years 88.60%
10-year low 10-year high
P/B against its own 10 years 61.10%
10-year low 10-year high
EV/Sales against its own 10 years 88.46%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 711 913 2,456 2,488
Receivables 341 336 372 635
Inventory 503 545 643 928
Other 41 145 179 884
1,693 2,044 3,731 5,208
2023 2024 2025 Q'26
Payables 132 93 203 493
ST’ Debt — 114 4 3
Other — — — —
470 637 624 1,392

Compound Annual Growth %

10y 5y 3y
Sales — 20.57% 19.06%
Cash Flow — 0.00% 0.00%
Earnings — 0.00% 0.00%
Book Value — 41.18% 27.92%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 0.71 Actual 0.94

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 0.25 0.45 Beat by 0.20
Q1 FY26 0.09 0.44 Beat by 0.35
Q2 FY26 0.39 0.78 Beat by 0.39
Q3 FY26 0.71 0.94 Beat by 0.23
Q4 FY26 1.14 — Reports 4 February 2027

EPS $

Mar Jun Sep Dec Year
’26 0.23 0.62 0.78 — —
’25 (0.10) (0.18) (0.10) 0.00 (0.37)
’24 (0.25) (0.27) (0.06) 0.46 (0.13)
’23 (0.35) (0.32) (0.80) 0.02 (1.42)
’22 (0.44) (0.67) (0.31) (0.23) (1.62)
’21 (0.15) (0.31) (0.30) (0.19) (0.95)
’20 (0.61) (0.34) (0.09) (0.16) (1.14)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 751 1,065 1,236 — —
’25 326 401 519 778 2,024
’24 235 336 330 572 1,474
’23 275 301 400 357 1,333
’22 201 243 292 463 1,199
’21 194 228 207 342 972
’20 157 188 200 249 794
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 74 226 (27) — —
’25 (111) (213) 20 418 114
’24 (147) (175) (69) 484 92
’23 (315) (46) (133) 122 (373)
’22 (92) (6) (70) (23) (192)
’21 (89) 54 (73) 47 (61)
’20 (28) (12) (40) (19) (99)
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 48 175 (181) — —
’25 (125) (220) 7 395 57
’24 (169) (187) (84) 473 33
’23 (341) (66) (155) 106 (456)
’22 (111) (32) (106) (59) (309)
’21 (102) 32 (83) 42 (110)
’20 (40) (19) (53) (24) (137)
Fiscal quarters ending in the months shown.

Valuation

The price implies free cash flow after share-based pay growing 38.5% a year for ten years.

Implied
38.5%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

2
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 209 366 633 785 794 972 1,199 1,333 1,474 2,024 3,830 +28.7% 4,529 7,086 10,428 +72.7%
Gross margin, % (49.63) (4.46) 16.72 12.43 20.87 20.32 12.37 14.83 27.46 29.02 32.33 +78.6 pt
EBT (336) (294) (290) (323) (179) (192) (314) (306) (26) (84) 527 (14.2%)
EBT margin, % (160.92) (80.52) (45.80) (41.12) (22.52) (19.78) (26.18) (22.95) (1.79) (4.17) 13.75 +156.8 pt
Net income (336) (295) (291) (323) (179) (193) (315) (308) (27) (87) 523 (13.9%)
Per share, $
Per share, $ Revenue 20.76 35.68 11.88 6.82 5.73 5.61 6.45 6.27 6.48 8.42 12.99 (9.5%)
Earnings (27.84) (28.79) (5.47) (2.63) (1.14) (0.95) (1.62) (1.42) (0.13) (0.37) 1.78 (38.1%)
Cash flow (28.15) (8.97) (1.73) 1.42 (0.71) (0.35) (1.03) (1.75) 0.40 0.47 2.34 n/m
Capex (0.89) (6.00) (0.91) (0.44) (0.27) (0.29) (0.63) (0.39) (0.26) (0.24) (0.86) (13.8%)
Free cash flow (29.05) (14.97) (2.64) 0.98 (0.99) (0.64) (1.66) (2.15) 0.15 0.24 1.48 n/m
Book value (25.79) (48.85) 0.75 (1.46) 1.02 (0.01) 2.04 2.45 2.57 3.30 6.66 n/m
Shares, m 10 10 53 115 139 173 186 213 227 240 276 +42.3%
Valuation, ×
Valuation, × P/E 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 96.35 0.0
P/S 0.00 0.01 0.84 1.10 5.01 3.91 2.98 2.35 3.43 10.32 13.20 3.0
P/B 0.00 0.00 13.37 0.00 28.12 0.00 9.42 6.03 8.63 26.34 25.75 9.2
EV/Sales 0.00 2.11 2.06 2.18 5.70 4.43 3.35 2.80 3.74 10.50 13.23 3.7
EV/FCF 0.00 (10.66) (9.29) 15.43 (32.64) (38.27) (12.95) (8.16) 176.33 383.80 116.52 46.4
Cash, $m
Cash, $m Operating cash flow (283) (92) (92) 164 (99) (61) (192) (373) 92 114 691 n/m
Capex (9) (61) (48) (51) (38) (50) (117) (84) (59) (57) (254) +22.7%
Free cash flow (292) (153) (140) 113 (137) (110) (309) (456) 33 57 437 n/m
Balance, $m
Balance, $m Working capital 131 149 407 (101) 182 464 514 1,223 1,407 3,107 3,816 +42.2%
Net debt 618 766 773 849 551 500 454 541 459 354 131 (6.0%)
Shareholders’ equity (259) (501) 40 (168) 141 (2) 379 521 585 793 1,963 n/m
Returns, %
Returns, % ROA (23.06) (22.79) (19.95) (21.58) (11.35) (10.34) (16.42) (13.86) (1.15) (2.51) 11.26 +20.5 pt
ROIC (41.99) (36.48) (12.69) (21.35) (7.29) (14.36) (19.60) (12.30) 1.37 3.97 16.93 +46.0 pt
ROE 14.32 14.97 28.39 479.11 1,190.70 (235.14) (159.78) (67.18) (5.29) (12.83) 39.26 (27.1) pt
People
People Employees — 1,409 1,524 1,252 1,711 1,719 2,530 2,377 2,127 2,214 — +5.8%
Revenue/emp, $m 0.00 0.26 0.42 0.63 0.46 0.57 0.47 0.56 0.69 0.91 — n/m
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 2 Nov 2026

Business profile

Updated

Bloom Energy makes, sells, installs, operates and services onsite power systems. Its main product, the Bloom Energy Server, is a solid-oxide fuel-cell system that converts natural gas, biogas or hydrogen into electricity through an electrochemical process rather than combustion. It has no moving parts in the power-generation process.

The company sells the Energy Server as a source of distributed electricity for critical operations. Systems can operate with the grid, independently as a microgrid, or as primary power at a customer site. The modular architecture supports deployments from hundreds of kilowatts to hundreds of megawatts, and customers can add modules as their electricity load increases.

Bloom Energy Corporation vs peers in Electrical Equipment & Parts (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
VRT Vertiv Holdings Co. $68.1B 32.5× 36.6× +61.18% (above 0%: growing) +90.93% (above 0%: growing) +49.59% (above 0%: growing) 38.11% 22.81% Compare
BE Bloom Energy Corporation $49.5B 96.4× 76.1× +138.10% (above 0%: growing) n/m −2,550.79% (below 0%: shrinking) 33.75% 18.24%
HUBB Hubbell Inc $22.1B 24.5× 24.4× +24.63% (above 0%: growing) +4.21% (above 0%: growing) +10.48% (above 0%: growing) 36.75% 21.83% Compare
NVT nVent Electric PLC $15.9B 23.5× 28.0× +43.73% (above 0%: growing) +66.67% (above 0%: growing) +33.08% (above 0%: growing) 35.84% 18.63% Compare
AYI Acuity, Inc. $9.6B 18.4× 18.4× +2.92% (above 0%: growing) +55.53% (above 0%: growing) +61.06% (above 0%: growing) 53.85% 18.24% Compare
AEIS Advanced Energy Industries, Inc. $7.5B 25.4× 26.9× +50.31% (above 0%: growing) +134.96% (above 0%: growing) −33.07% (below 0%: shrinking) 41.51% 20.56% Compare
FPS Forgent Power Solutions, Inc. $5.5B — — +94.30% (above 0%: growing) — +188.32% (above 0%: growing) 36.11% 19.91% Compare
ENS Enersys $5.1B 14.9× 14.3× +4.77% (above 0%: growing) +115.54% (above 0%: growing) +881.05% (above 0%: growing) 33.49% 16.18% Compare
POWL Powell Industries, Inc. $4.6B 24.1× 29.1× +8.90% (above 0%: growing) +7.25% (above 0%: growing) +121.73% (above 0%: growing) 30.57% 20.55% Compare
Median of peers $8.6B 24.1× 26.9× +34.18% +66.67% +55.33% 36.43% 20.23%

All 55 Electrical Equipment & Parts stocks →

From the latest earnings call

Updated

  • CEO K. R. Sridhar said Bloom is preparing to expand production capacity beyond its 5-gigawatt milestone as demand for on-site power grows.
  • CFO Simon Edwards said working-capital needs used cash in the quarter, while customer delivery timing drove the company’s raised annual revenue outlook.

Analyst rating changes each firm’s latest, last six months

Firm Date Action Rating Target
Barclays Nov 3, 2026 Target raised — 316.00
Jefferies Oct 31, 2026 Target cut Hold 242.00
JPMorgan Oct 30, 2026 Target cut Outperform 314.00 → 292.00
Morgan Stanley Oct 30, 2026 Target raised Outperform 310.00 → 335.00
Roth Oct 24, 2026 Target cut — 230.00
Oppenheimer Oct 23, 2026 Reiterated Hold —
BTIG Oct 23, 2026 Target cut — 295.00 → 250.00
Roth Capital Oct 23, 2026 Target cut Hold 260.00 → 230.00
BMO Capital Oct 22, 2026 Target raised Outperform 227.00 → 260.00
Truist Securities Oct 21, 2026 Target raised Hold 218.00 → 240.00

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 77.95%
Held by the ten largest 39.06%
Holder Shares Stake Change
Vanguard 26.73m 9.08% −9.67k
BlackRock 18.44m 6.26% −6.62m
Ameriprise (Columbia Threadneedle) 18.13m 6.16% −4.75m
Goldman Sachs 13.95m 4.74% +4.83m
JPMorgan Chase 8.09m 2.75% +6.37m
Morgan Stanley 7.31m 2.48% −330.82k
State Street 6.32m 2.14% −158.19k
Situational Awareness LP 6.27m 2.13% −212.60k
Value Aligned Research Advisors, LLC 5.59m 1.90% +1.00m
Graticule Asia Macro Advisors LLC 4.21m 1.43% −335.70k
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

Pay and ownership Proxy statement filed 8 April 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 3.50m 416.29m 302.98
2024 44.96m 39.97m 77.45
2023 1.70m (2.90m) 51.62
2022 2.63m (1.56m) 66.70
2021 34.21m 45.04m 76.51

Ownership

Directors and executive officers, together 3.00%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Bloom Energy Corporation (BE) Latest News

5 Nov

Impact 4 · · Business Wire
Impact 3 · · Trefis
Impact 3 · · Trefis
Impact 3 · · TIKR

4 Nov

Impact 3 · · The Motley Fool

3 Nov

Impact 4 · · Investing.com
Impact 3 · · TIKR
Impact 3 · · Stocktwits
Impact 3 · · TIKR
Impact 3 · · 24/7 Wall St.
Impact 3 · · TIKR

2 Nov

Impact 3 · · Stocktwits
Impact 3 · · GlobeNewswire

31 Oct

Impact 3 · · The Motley Fool
Impact 3 · · Barchart

30 Oct

Impact 3 · · Barchart

29 Oct

Impact 4 · · Trefis

28 Oct

Impact 4 · · Trefis
Impact 4 · · Zacks earnings
Impact 3 · · Simply Wall St.

27 Oct

Impact 4 · · Trefis
Impact 3 · · The Motley Fool
Impact 3 · · The Motley Fool
Impact 3 · · 24/7 Wall St.
Impact 3 · · The Motley Fool

26 Oct

Impact 4 · · TIKR
Impact 4 · · 24/7 Wall St.
Impact 3 · · Trefis

25 Oct

Impact 4 · · Stocktwits
Impact 4 · · TIKR

BE metrics, ten years each

stockrow.com/BE · Data as of Nov 2, 2026 · For information only; not investment advice. · © 2026 stockrow.com