Bloom Energy (BE) AI Stock Analysis

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Bloom Energy

(NYSE:BE)

Rating:63Neutral

Price Target:

$41.00

▼(-22.55% Downside)

Bloom Energy's overall score reflects strong earnings call outcomes and strategic corporate developments. However, high leverage, overvaluation, and technical overbought signals temper the positive aspects.

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.

Oracle Agreement

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 Guidance

The stock embeds bullish win assumptions with limited pipeline visibility to justify further upside.

Leadership Uncertainty

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.

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

$12.39B

Dividend YieldN/A

Average Volume (3M)12.06M

Price to Earnings (P/E)11263.8

Beta (1Y)1.85

Revenue Growth22.72%

EPS GrowthN/A

CountryUS

Employees2,127

SectorIndustrials

Sector Strength80

IndustryElectrical Equipment & Parts

Share Statistics

EPS (TTM)0.10

Shares Outstanding233,997,970

10 Day Avg. Volume11,052,660

30 Day Avg. Volume12,058,932

Financial Highlights & Ratios

PEG RatioN/A

Price to Book (P/B)N/A

Price to Sales (P/S)N/A

P/FCF RatioN/A

Enterprise Value/Market Cap0.53

Enterprise Value/Revenue4.01

Enterprise Value/Gross Profit12.18

Enterprise Value/Ebitda46.62

Forecast

1Y Price Target

$33.80

Price Target Upside-36.15% 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: |

Next Earnings Date:Oct 30, 2025

Earnings Call Sentiment Positive

The earnings call highlighted significant achievements in revenue growth, strategic partnerships, and operational improvements, outweighing the potential timing challenges in revenue recognition and ITC policy clarifications.

Q2-2025 Updates

Positive Updates

Record-Breaking Revenue and Growth

Bloom Energy reported the highest revenue and most profitable second quarter in its 24-year history, with revenue for the quarter reaching $401 million, up 19.5% year-over-year. Gross margin increased to 28.2% from 21.8% in Q2 2024.

Strategic Partnerships with Major Companies

Bloom Energy announced strategic partnerships with Oracle to power their AI data centers, and with American Electric Power (AEP) to deploy systems in Ohio for Amazon Web Services and Coralogix.

Expansion Plans

Bloom Energy plans to double its factory capacity from 1 gigawatt to 2 gigawatts by the end of next year, fueled by strong demand and confidence in the market.

Profitability and Operational Improvements

The company reported its third consecutive quarter of record profits and operating margin, with a sixth consecutive quarter of profitability for its service business. Adjusted EBITDA was $41.2 million, compared to $10.2 million in Q2 2024.

Refinancing for Future Growth

Bloom Energy refinanced $113 million of its convertible notes due in August 2025 into existing 2029 convertible notes, providing more flexibility to fund future growth.

Negative Updates

Potential Revenue Recognition Delays

Revenue recognition may be affected by customer readiness, including factors like factory completion, gas connections, and permit acquisitions, leading to potential timing uncertainties.

ITC Policy Clarifications

There was some confusion regarding the timing and benefits of the Investment Tax Credit (ITC) for fuel cells, although Bloom clarified that there should be no gap for its customers in 2025.

Company Guidance

During Bloom Energy's Second Quarter 2025 Financial Results Call, the company provided comprehensive guidance, emphasizing strong performance metrics and future expectations. Bloom Energy reported record revenue of $401 million for the quarter, representing a 19.5% year-over-year increase. The gross margin improved significantly to 28.2%, up 650 basis points from 21.8% in Q2 2024. Operating income reached $28.6 million, compared to a $3.2 million loss in the previous year, while adjusted EBITDA rose to $41.2 million from $10.2 million. The company also posted a positive EPS of $0.10, a notable improvement from a loss of $0.06 the prior year. For the full year 2025, Bloom Energy reiterated its guidance, projecting revenue between $1.65 billion and $1.85 billion, a non-GAAP gross margin of approximately 29%, and non-GAAP operating income ranging from $135 million to $165 million. The company expects to maintain positive cash flow from operations, comparable to fiscal 2024 levels, with capital expenditures also remaining consistent. Additionally, Bloom Energy highlighted a strategic focus on cost reduction and commercial execution, setting the stage for continued growth and profitability.

Bloom Energy Financial Statement Overview

Summary

Bloom Energy has shown strong revenue growth and improved profitability metrics, with a positive net profit margin and cash flow improvements. However, high leverage and modest operational efficiency remain 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	536.53M	404.65M	197.79M	148.29M	195.01M	161.40M
EBITDA	140.13M	89.33M	-135.13M	-198.89M	-60.14M	-42.44M
Net Income	23.65M	-29.23M	-302.12M	-301.41M	-164.44M	-157.55M
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 Price52.94

Price Trends

50DMA

33.84

Positive

100DMA

26.39

Positive

200DMA

24.94

Positive

Market Momentum

MACD

5.38

Negative

RSI

75.71

Negative

STOCH

93.98

Negative

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 52.94 is above the 20-day moving average (MA) of 44.25, above the 50-day MA of 33.84, and above the 200-day MA of 24.94, indicating a bullish trend. The MACD of 5.38 indicates Negative momentum. The RSI at 75.71 is Negative, neither overbought nor oversold. The STOCH value of 93.98 is Negative, 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 (64)

Financial Indicators

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ATKR	65 Neutral	$1.96B	18.68	7.29%	2.23%	-12.09%	-78.18%
Sector *	64 Neutral	$10.74B	15.86	8.15%	2.00%	2.70%	-15.17%
BE	63 Neutral	$12.39B	11,263.83	4.65%	―	22.72%	―
EOSE	56 Neutral	$1.79B	―	125.43%	―	128.49%	-697.81%
PLUG	53 Neutral	$1.81B	―	-84.40%	―	-1.70%	9.93%
SKYX	49 Neutral	$129.28M	―	-481.19%	―	5.71%	7.97%
FCEL	43 Neutral	$95.72M	―	-20.52%	―	48.62%	0.23%

* Industrials Sector Average

Performance Comparison

Bloom Energy

52.94

41.92

380.40%

FCEL

Fuelcell Energy

4.20

-7.35

-63.64%

PLUG

Plug Power

1.57

-0.18

-10.29%

ATKR

Atkore International Group

58.19

-28.60

-32.95%

SKYX

SQL Technologies

1.16

0.35

43.21%

EOSE

Eos Energy Enterprises

6.90

4.44

180.49%

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.

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 20, 2025