Bloom Energy (BE) AI Stock Analysis

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Bloom Energy

(NYSE:BE)

Rating:63Neutral

Price Target:

$41.00

▼(-0.61% Downside)

Bloom Energy's overall score reflects strong earnings performance and strategic initiatives, tempered by high leverage and valuation concerns. The positive earnings call and corporate events boost the outlook, but technical indicators suggest caution due to overbought conditions.

Positive Factors

Manufacturing Expansion

Bloom Energy announced its long-awaited US manufacturing expansion which will double production capacity to 2GW by the end of 2026.

Partnerships

Bloom Energy has announced an agreement with Oracle to deliver onsite power to Oracle AI data centers, showcasing the potential demand for Bloom's technology.

Tax Credits

The unexpected qualification for 48E tax credits provides an opportunity for increased revenue and margin estimates starting in FY26.

Negative Factors

Financial Management

Risks include Bloom Energy not having a permanent CFO, and potential order delays as customers might wait until 2026 to qualify for the 48E tax credit.

Guidance and Targets

The reaffirmed guidance and lack of new detail reinforce concern that high-profile wins like Oracle are already priced in and needed just to meet - not exceed - targets.

Pipeline Visibility

There is downside risk into 2026+ given limited visibility into the project pipeline.

Bloom Energy (BE) vs. SPDR S&P 500 ETF (SPY)

Market Cap

$8.61B

Dividend YieldN/A

Average Volume (3M)10.50M

Price to Earnings (P/E)7829.8

Beta (1Y)1.85

Revenue Growth22.72%

EPS GrowthN/A

CountryUS

Employees2,127

SectorIndustrials

Sector Strength85

IndustryElectrical Equipment & Parts

Share Statistics

EPS (TTM)0.10

Shares Outstanding233,997,970

10 Day Avg. Volume11,940,375

30 Day Avg. Volume10,500,618

Financial Highlights & Ratios

PEG Ratio1.90

Price to Book (P/B)8.98

Price to Sales (P/S)3.43

P/FCF Ratio152.35

Enterprise Value/Market Cap0.76

Enterprise Value/Revenue4.01

Enterprise Value/Gross Profit13.23

Enterprise Value/Ebitda55.53

Forecast

1Y Price Target

$34.19

Price Target Upside-17.12% Downside

Rating ConsensusModerate Buy

Number of Analyst Covering17

Bloom Energy Business Overview & Revenue Model

Company DescriptionBloom Energy (BE) is a renewable energy company that specializes in the development and deployment of solid oxide fuel cell technology. Founded in 2001, Bloom Energy focuses on providing clean, reliable, and affordable energy solutions for businesses and utility providers. The company's primary product, the Bloom Energy Server, converts natural gas, biogas, or hydrogen into electricity through an electrochemical process, significantly reducing greenhouse gas emissions compared to traditional fossil fuel sources. Bloom Energy operates primarily in the energy sector, targeting markets that demand sustainable energy solutions.

How the Company Makes MoneyBloom Energy generates revenue primarily through the sale of its fuel cell systems, known as Bloom Energy Servers. The company employs a combination of direct sales and long-term power purchase agreements (PPAs) with commercial and industrial customers, as well as utility providers. These agreements allow customers to purchase energy produced by Bloom's fuel cells at a fixed rate, providing a stable income stream for the company. Additionally, Bloom Energy benefits from government incentives and tax credits associated with renewable energy production, further enhancing its revenue potential. Strategic partnerships with major corporations and investments in research and development to advance fuel cell technology also contribute to its financial growth.

Bloom Energy Key Performance Indicators (KPIs)

Any

Profit Margin by Segment

Profit Margin by Segment
Shows the efficiency of various segments in converting revenue into profit, indicating competitive strengths and potential vulnerabilities in the business model.

Chart InsightsBloom Energy's product segment shows a volatile yet upward trend in profit margins, peaking in late 2024. The service segment, despite historical losses, has turned profitable, aligning with earnings call highlights of sustained profitability. Installation margins are improving, nearing positive territory, while electricity margins are erratic but recently surged. The earnings call underscores strong revenue growth and profitability, particularly in services and international markets, despite tariff and economic challenges. The CFO transition adds uncertainty, but management remains committed to margin targets through efficiency improvements.

Data provided by:

Main Street Data

Bloom Energy Earnings Call Summary

Earnings Call Date:Jul 31, 2025

(Q2-2025)

% Change Since: 10.32%|

Next Earnings Date:Oct 30, 2025

Earnings Call Sentiment Positive

The earnings call reflects a strong performance with record-breaking revenue and profitability, strategic partnerships in the AI and data center sectors, and successful financial management, including debt refinancing and service business profitability. However, challenges such as increased inventory levels and dependence on customer readiness for revenue recognition present some risks. Overall, the positive aspects significantly outweigh the lowlights, indicating a positive outlook.

Q2-2025 Updates

Positive Updates

Record-Breaking Revenue and Profitability

Bloom Energy reported the highest revenue and most profitable second quarter in its 24-year history. Revenue for the quarter was $401 million, up 19.5% year-over-year, with a gross margin of 28.2%, an increase of 650 basis points from Q2 2024.

Strategic Partnerships in AI and Data Center Sectors

Bloom Energy announced partnerships with Oracle, AWS, and Coralogix to power AI data centers, highlighting the growing demand for clean, reliable, and rapidly deployable power. These partnerships are expected to optimize energy efficiency and enhance growth in the AI sector.

Successful Debt Refinancing

Bloom Energy refinanced $113 million of convertible notes due in August 2025, extending the maturity to 2029 and providing increased financial flexibility to support future growth.

Service Business Profitability

The service business has been profitable for 6 consecutive quarters, achieving double-digit percentage margins for the first time.

Factory Capacity Expansion

Bloom Energy announced plans to double its factory capacity from 1 gigawatt to 2 gigawatts by the end of next year to meet growing demand.

Restoration of Tax Credit Benefits

U.S. lawmakers restored tax credit benefits for companies installing Bloom's fuel cell systems, providing a tailwind for growth.

Negative Updates

Inventory Increase

Bloom Energy's inventory levels increased, reflecting a deliberate choice to level load the factory, which may impact cash flow in the short term.

Dependence on Customer Readiness

Revenue recognition depends on customer readiness, including factors such as factory or data center completion and permit approvals, which could lead to potential delays.

Company Guidance

During Bloom Energy's Second Quarter 2025 Financial Results Call, the company provided robust guidance for 2025, reiterating expectations for revenue between $1.65 billion to $1.85 billion and a non-GAAP gross margin of approximately 29%. They anticipate non-GAAP operating income ranging from $135 million to $165 million, and expect to maintain positive cash flow from operations consistent with fiscal 2024 levels. Capital expenditures are also expected to remain in line with the previous year. Bloom Energy highlighted several key achievements, including record second-quarter revenue of $401 million, a gross margin of 28.2%, and operating income of $28.6 million. The company has seen six consecutive quarters of profitability in its service business and refinanced $113 million of convertible notes to extend their maturity. Additionally, Bloom Energy is increasing its production capacity from 1 gigawatt to 2 gigawatts by the end of next year to meet rising demand, particularly from the AI sector, illustrated by strategic partnerships with major companies like Oracle and American Electric Power.

Bloom Energy Financial Statement Overview

Summary

Bloom Energy shows strong revenue growth and improved profitability, with a net profit margin turning positive and free cash flow growth. However, high leverage and modest EBIT and EBITDA margins highlight operational efficiency and debt concerns.

Income Statement

Positive

Bloom Energy's revenue has shown a consistent upward trajectory with a strong growth rate from 2020 to 2025. The TTM (Trailing-Twelve-Months) gross profit margin stands at 30.3%, and the net profit margin is 1.45%, marking a significant improvement from previous negative net incomes. However, EBIT and EBITDA margins remain modest at 4.44% and 7.87% respectively, indicating room for operational efficiency improvements.

Balance Sheet

Neutral

The company's debt-to-equity ratio is high, reflecting significant leverage which could pose risks. However, stockholders' equity has strengthened, yielding an equity ratio of 23.5% in the TTM. Return on Equity (ROE) has turned positive in the TTM, indicating improved profitability, but overall leverage remains a concern.

Cash Flow

Positive

Bloom Energy's cash flow has improved with positive free cash flow growth in the TTM, and the operating cash flow to net income ratio indicates a healthy conversion of operating profits into cash. However, historical volatility in cash flows and a dependency on financing activities for liquidity pose potential risks.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	1.63B	1.47B	1.33B	1.20B	972.18M	794.25M
Gross Profit	493.88M	404.65M	197.79M	148.29M	197.58M	165.79M
EBITDA	117.64M	89.33M	-135.13M	-198.89M	-60.14M	-42.44M
Net Income	23.65M	-29.23M	-302.12M	-315.09M	-193.37M	-179.09M
Balance Sheet
Total Assets	2.53B	2.66B	2.41B	1.95B	1.73B	1.45B
Cash, Cash Equivalents and Short-Term Investments	574.76M	802.85M	664.59M	348.50M	396.04M	246.95M
Total Debt	1.52B	1.53B	1.45B	1.02B	1.12B	913.37M
Total Liabilities	1.91B	2.07B	1.89B	1.57B	1.73B	1.31B
Stockholders Equity	594.58M	562.47M	502.08M	340.78M	-44.33M	78.82M
Cash Flow
Free Cash Flow	44.06M	33.15M	-456.27M	-308.55M	-110.49M	-136.61M
Operating Cash Flow	90.97M	92.00M	-372.53M	-191.72M	-60.68M	-98.69M
Investing Cash Flow	-46.78M	-58.78M	-83.72M	-116.82M	-46.70M	-37.91M
Financing Cash Flow	-76.71M	175.21M	683.35M	220.55M	306.38M	175.93M

Bloom Energy Technical Analysis

Technical Analysis Sentiment

Positive

Last Price41.25

Price Trends

50DMA

26.97

Positive

100DMA

22.95

Positive

200DMA

22.52

Positive

Market Momentum

MACD

3.74

Negative

RSI

76.42

Negative

STOCH

74.42

Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BE, the sentiment is Positive. The current price of 41.25 is above the 20-day moving average (MA) of 33.30, above the 50-day MA of 26.97, and above the 200-day MA of 22.52, indicating a bullish trend. The MACD of 3.74 indicates Negative momentum. The RSI at 76.42 is Negative, neither overbought nor oversold. The STOCH value of 74.42 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for BE.

Bloom Energy Risk Analysis

Bloom Energy disclosed 57 risk factors in its most recent earnings report. Bloom Energy reported the most risks in the "Production" category.

Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy

Latest Risks Added 0 New Risks

Bloom Energy Peers Comparison

Overall Rating

UnderperformOutperform

Sector (71)

Financial Indicators

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	71 Outperform	¥268.19B	14.78	8.32%	2.79%	6.24%	10.99%
BE	63 Neutral	$8.61B	7,829.79	4.65%	―	22.72%	―
ATKR	58 Neutral	$1.81B	17.29	7.29%	2.40%	-12.09%	-78.18%
EOSE	57 Neutral	$1.66B	―	125.43%	―	128.49%	-697.81%
PLUG	54 Neutral	$1.73B	―	-84.40%	―	-1.70%	9.93%
SKYX	47 Neutral	$124.02M	―	-395.45%	―	12.42%	23.63%
FCEL	42 Neutral	$92.76M	―	-20.52%	―	48.62%	0.23%

* Industrials Sector Average

Performance Comparison

Bloom Energy

41.25

29.39

247.81%

FCEL

Fuelcell Energy

4.09

-9.60

-70.12%

PLUG

Plug Power

1.54

-0.60

-28.04%

ATKR

Atkore International Group

56.93

-36.15

-38.84%

SKYX

SQL Technologies

1.18

0.16

15.69%

EOSE

Eos Energy Enterprises

6.11

4.33

243.26%

Bloom Energy Corporate Events

Executive/Board ChangesBusiness Operations and Strategy

Bloom Energy Expands Board with New Appointment

Positive

Aug 6, 2025

On August 6, 2025, Bloom Energy announced the appointment of Jim Hagemann Snabe to its Board of Directors, expanding the board from nine to ten members. Snabe, a veteran in the technology industry and former Co-CEO of SAP AG, brings extensive experience in scaling global enterprises, which is expected to aid Bloom Energy in accelerating its growth and leadership in the global energy transition. His appointment is seen as a strategic move to strengthen Bloom’s mission to provide clean, reliable, and affordable power solutions worldwide.

The most recent analyst rating on (BE) stock is a Buy with a $13.00 price target. To see the full list of analyst forecasts on Bloom Energy stock, see the BE Stock Forecast page.

Private Placements and FinancingBusiness Operations and Strategy

Bloom Energy Extends Debt Maturity with Note Swap

Positive

May 13, 2025

On May 7, 2025, Bloom Energy Corporation entered into exchange agreements to swap approximately $112.8 million of its 2.50% Green Convertible Senior Notes due 2025 for $115.7 million of 3.00% Green Convertible Senior Notes due 2029. This strategic move aims to extend the maturity of its debt obligations and improve financial flexibility, impacting the company’s capital structure and potentially its market positioning.

The most recent analyst rating on (BE) stock is a Buy with a $13.00 price target. To see the full list of analyst forecasts on Bloom Energy stock, see the BE Stock Forecast page.

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Aug 07, 2025