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Fluence Energy, Inc.

FLNC Utilities Utilities Renewable

Fluence Energy, Inc.’s revenue for fiscal 2025 (year ended September 2025) was $2.3 billion, down 16.1% from fiscal 2024.

Revenue
+7.85%
EPS
−580.0%
Free cash flow
+85.2%
Total debt
+0.46%

Quarter to June 2026, against a year earlier

5.16 0.90 −14.85%
Market cap
$940.5M
P/E
0.0×
Fwd P/E
−4.2×
Dividend yield
—
F-score
2/9
Altman Z
1.60
Beneish M
−2.43
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Bought, $m 0.13
Sold, $m 479.29
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — 2 — —
Sell — — — 1 — 3 2 — — — — —
Insider Ownership 19.86%

Capital & Financial Ratios $m

Size
Market Cap 940.52
Revenue ttm 2,631.86
Net income ttm (112.04)
Free cash flow ttm (131.88)
Net debt Q 27.21
Valuation
P/E 0.00
Forward P/E (4.24) (negative: loss-making)
Price / sales 0.27
Forward P/S Powerpack
Price / FCF 0.00
Price / book 1.65
Financial health
Current ratio Q 1.34
Debt / equity Q 0.91
Interest coverage Q 19.73
Growth
Revenue growth Q +7.85% (above 0%: growing)
Operating income growth Q −1,525.53% (below 0%: shrinking)
EPS, this year −239.16% (below 0%: weak)
EPS, next year A +66.29% (at or above 15%: strong)
Revenue, next year A +6.19%
EPS, past 5 yrs —
EPS, next 5 yrs A +28.02% (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 0.3×, against a ten-year median of 0.8×; over the ten years it ranged from −0.1× in 2022 to 2.9× in 2021.
P/S against its own 10 years 3.65%
10-year low 10-year high
P/B against its own 10 years 23.99%
10-year low 10-year high
EV/Sales against its own 10 years 12.81%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 453 495 715 365
Receivables 354 751 713 787
Inventory 225 183 455 783
Other 31 47 55 163
1,195 1,680 2,064 2,325
2023 2024 2025 Q'26
Payables 65 437 321 295
ST’ Debt — — — —
Other 69 83 52 135
746 1,259 1,370 1,734

Compound Annual Growth %

10y 5y 3y
Sales — 32.16% 23.59%
Cash Flow — 0.00% 0.00%
Earnings — 0.00% 0.00%
Book Value — 0.00% (4.45%)

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate −0.05 Actual −0.24

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 0.13 0.13 Met by 0.00
Q1 FY26 −0.18 −0.34 Miss by 0.16
Q2 FY26 −0.18 −0.16 Beat by 0.02
Q3 FY26 −0.05 −0.24 Miss by 0.19
Q4 FY26 −0.54 — Reports 23 November 2026

EPS $

Dec Mar Jun Sep Year
’26 (0.34) (0.16) (0.24) — —
’25 (0.32) (0.24) 0.04 0.13 (0.37)
’24 (0.14) (0.07) 0.00 0.34 0.13
’23 (0.21) (0.21) (0.20) 0.02 (0.60)
’22 (0.53) (0.35) (0.35) (0.32) (1.50)
’21 — — — (0.74) (1.38)
’20 — — — (0.02) (0.94)
Fiscal quarters ending in the months shown.

Revenue $m

Dec Mar Jun Sep Year
’26 475 465 650 — —
’25 187 432 603 1,042 2,263
’24 364 623 483 1,228 2,699
’23 310 698 536 673 2,218
’22 175 343 239 442 1,199
’21 116 98 278 188 681
’20 — — — 239 561
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Dec Mar Jun Sep Year
’26 (227) (121) (19) — —
’25 (211) (46) (154) 266 (146)
’24 19 71 (21) 11 80
’23 (89) (75) 3 49 (112)
’22 (192) 51 80 (221) (282)
’21 (58) (25) (56) (126) (265)
’20 — — (76) 62 (14)
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Dec Mar Jun Sep Year
’26 (236) (128) (24) — —
’25 (216) (54) (161) 256 (175)
’24 17 66 (27) 5 61
’23 (91) (73) (5) 45 (124)
’22 (192) 50 79 (227) (290)
’21 (59) (26) (57) (127) (270)
’20 — — (77) 61 (16)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

3
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to September

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue — — 92 92 561 681 1,199 2,218 2,699 2,263 2,632 +58.0% 2,403 3,012 3,798 +18.8%
Gross margin, % — — (8.59) (8.59) 1.41 (10.16) (5.20) 6.36 12.64 13.07 9.34 +21.7 pt
EBT — — (48) (48) (40) (160) (288) (100) 40 (45) (96) (0.8%)
EBT margin, % — — (51.83) (51.83) (7.18) (23.53) (24.01) (4.52) 1.47 (1.99) (3.63) +49.8 pt
Net income — — 0 (47) (47) (162) (289) (105) 30 (68) (112) n/m
Per share, $
Per share, $ Revenue — — 0.00 0.79 0.00 0.00 17.19 19.05 21.39 17.37 19.05 n/m
Earnings — — — (0.40) (0.94) (1.38) (1.50) (0.60) 0.18 (0.37) (0.60) (1.3%)
Cash flow — — — 0.24 0.00 0.00 (4.05) (0.96) 0.63 (1.12) (0.73) n/m
Capex — — — (0.02) 0.00 0.00 (0.11) (0.10) (0.15) (0.23) (0.23) +46.2%
Free cash flow — — — 0.21 0.00 0.00 (4.16) (1.07) 0.48 (1.35) (0.95) n/m
Book value — — 0.00 0.22 0.00 0.00 9.03 4.78 4.81 4.21 3.12 n/m
Shares, m — — — 117 0 0 70 116 126 130 133 +1.8%
Valuation, ×
Valuation, × P/E — — 0.00 0.00 0.00 0.00 0.00 0.00 133.59 0.00 0.00 16.7
P/S — — 2.78 2.78 2.78 2.78 0.85 1.18 1.06 0.62 0.27 1.9
P/B — — 0.00 0.00 0.00 0.00 1.62 4.68 4.72 2.56 1.65 1.7
EV/Sales — — 2.87 2.87 2.87 2.87 0.49 1.03 0.93 0.52 0.32 1.8
EV/FCF — — (7.26) (7.26) (7.26) (7.26) (2.03) (18.38) 41.16 (6.75) (6.37) (1.9)
Cash, $m
Cash, $m Operating cash flow — — — 28 (14) (265) (282) (112) 80 (146) (101) n/m
Capex — — — (3) (2) (4) (8) (12) (19) (30) (31) +48.9%
Free cash flow — — — 25 (16) (270) (290) (124) 61 (175) (132) n/m
Balance, $m
Balance, $m Working capital — — (12) (12) (51) (110) 492 449 422 694 590 n/m
Net debt — — (84) (84) (94) 62 (529) (425) (495) (324) 27 +21.2%
Shareholders’ equity — — 26 26 (17) (173) 629 556 607 549 431 +55.0%
Returns, %
Returns, % ROA — — (24.61) (24.88) 0.00 0.00 (8.48) (4.49) 1.40 (2.27) (3.45) +22.3 pt
ROIC — — 0.00 0.00 0.00 0.00 (176.97) (53.47) 14.81 (12.87) (15.19) (12.9) pt
ROE — — 208.42 208.42 0.00 0.00 (45.85) (11.74) 3.90 (8.36) (16.99) (216.8) pt
People
People Employees — — — — 379 450 967 1,112 1,595 1,670 — +34.5%
Revenue/emp, $m — — 0.00 0.00 1.48 1.51 1.24 1.99 1.69 1.35 — n/m
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Sep 2025 · latest quarter Jun 2026

Fluence Energy, Inc. vs peers in Utilities Renewable (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
BEPC Brookfield Renewable Corporation $5.8B — (loss-making) — (loss-making) +19.78% (above 0%: growing) n/m +116.56% (above 0%: growing) 61.84% 32.69% Compare
ORA Ormat Technologies, Inc. $5.7B 42.4× 42.6× +10.17% (above 0%: growing) +30.00% (above 0%: growing) +197.66% (above 0%: growing) 28.12% 16.45% Compare
MWH SOLV Energy Inc. $4.8B — — — — — 14.68% 7.33% Compare
RNW ReNew Energy Global PLC $2.5B 18.8× 26.5× +19.35% (above 0%: growing) +41.31% (above 0%: growing) +192.68% (above 0%: growing) 80.50% 20.27% Compare
FRVO Fervo Energy Company $2.3B — (loss-making) — (loss-making) — n/m — (170.80%) (25,435.40%) Compare
XIFR XPLR Infrastructure, LP $1.4B 3.6× 19.0× +5.40% (above 0%: growing) n/m +77.03% (above 0%: growing) 100.00% 25.00% Compare
FLNC Fluence Energy, Inc. $940.5M — (loss-making) — (loss-making) +7.85% (above 0%: growing) n/m +85.20% (above 0%: growing) 5.12% (8.85%)
NRGV Energy Vault Holdings, Inc. $509.2M — (loss-making) — (loss-making) +104.05% (above 0%: growing) n/m −671.56% (below 0%: shrinking) 30.95% (141.97%) Compare
ELLO Ellomay Capital Ltd. $234.3M 3.4× — (loss-making) +7.04% (above 0%: growing) n/m −268.27% (below 0%: shrinking) 24.60% 7.05% Compare
Median of peers $2.4B 11.2× 26.5× +14.76% — +96.80% 29.54% 11.89%

All 24 Utilities Renewable stocks →

Pay and ownership Proxy statement filed 26 January 2026

Ownership

Directors and executive officers, together less than 1% of the votes
AES Grid Stability, LLC 66.10% of the votes
Siemens AG 13.20% of the votes
Qatar Holding LLC 3.80% of the votes
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

Fluence Energy, Inc. (FLNC) Latest News

3 Nov

Impact 4 · · cfodive.com

2 Nov

Impact 4 · · Investing.com
Impact 3 · · Stocktwits
Impact 3 · · GlobeNewswire

27 Oct

Impact 4 · · Oilprice.com

15 Oct

Impact 4 · · power-technology.com

14 Oct

Impact 4 · · GlobeNewswire

12 Oct

Impact 3 · · Zacks

29 Sep

Impact 4 · · StockStory
Impact 4 · · Zacks

24 Sep

Impact 4 · · GlobeNewswire
Impact 4 · · Simply Wall St.

23 Sep

Impact 4 · · Simply Wall St.

22 Sep

Impact 4 · · Barchart

18 Sep

Impact 3 ·

17 Sep

Impact 4 · · Barchart
Impact 4 ·
Impact 4 ·
Impact 4 ·
Impact 4 · · Stocktwits
Impact 3 ·
Impact 3 · · Proactive Investors

16 Sep

Impact 4 · · Stocktwits
Impact 4 ·

10 Sep

Impact 3 ·

5 Sep

Impact 4 ·

31 Aug

Impact 4 ·

13 Aug

Impact 3 ·

12 Aug

Impact 4 · · The Motley Fool transcript

11 Aug

Impact 3 ·
stockrow.com/FLNC · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com