Bloom Energy (BE) AI Stock Analysis

• Market Cap: $5.15B
• Dividend Yield: N/A
• Average Volume (3M): 4.30M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.86
• Revenue Growth: 20.95%
• EPS Growth: N/A
• Country: US
• Employees: 2,127
• Sector: Industrials
• Sector Strength: 86
• Industry: Electrical Equipment & Parts
• EPS (TTM): 0.03
• Shares Outstanding: 232,228,600
• 10 Day Avg. Volume: 4,204,767
• 30 Day Avg. Volume: 4,296,179
• PEG Ratio: -0.22
• Price to Book (P/B): 10.43
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -11.52
• Enterprise Value/Market Cap: 0.82
• Enterprise Value/Revenue: 0.75
• Enterprise Value/Gross Profit: 8.58
• Enterprise Value/Ebitda: 69.45
• 1Y Price Target: $23.31
• Price Target Upside: -2.55% Downside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 17

• Rating: 73 Outperform
• Price Target: $25.00 ▲(4.52%Upside)

Bloom Energy's overall score is supported by strong financial performance and positive technical indicators, reflecting a robust growth trajectory and effective management. The earnings call further underscores the company's strategic execution and optimism in achieving future targets, despite valuation challenges and some operational risks.

Positive Factors

Financial Performance

1Q results exceeded expectations, with Bloom Energy reporting $326m of revenue, representing 39% year-over-year growth.

International Expansion

International momentum is picking up—particularly in Taiwan, Germany, the UK, and Italy—off a small base.

Regulatory Approvals

The approval by the Public Utility Commission of Ohio allows the projects between Bloom, AEP, and data center customers to move forward as proposed.

Negative Factors

Management Changes

The surprise departure of its CFO, Dan Berenbaum, after just a year in the seat is a new overhang on the stock.

Market Uncertainty

Without a substantial data center or utility order announcement, the market may remain in a 'wait and see' mode.

Regulatory Challenges

Going forward, AEP will no longer be able to own and operate fuel cell systems for its customers in Ohio through its regulated utility business due to new legislation.

Bloom Energy Business Overview & Revenue Model

Company Description

Bloom Energy Corporation designs, manufactures, sells, and installs solid-oxide fuel cell systems for on-site power generation in the United States and internationally. The company offers Bloom Energy Server, a power generation platform that converts fuel, such as natural gas, biogas, hydrogen, or a blend of these fuels, into electricity through an electrochemical process without combustion. It serves data centers, hospitals, healthcare manufacturing facilities, biotechnology facilities, grocery stores, hardware stores, banks, telecom facilities and other critical infrastructure applications. The company was formerly known as Ion America Corp. and changed its name to Bloom Energy Corporation in September 2006. Bloom Energy Corporation was incorporated in 2001 and is headquartered in San Jose, California.

How the Company Makes Money

Bloom Energy makes money primarily through the sale and service of its solid oxide fuel cell systems, known as Bloom Energy Servers. These servers generate electricity on-site where they are installed, allowing customers to reduce their dependence on the traditional power grid and lower their carbon footprint. Revenue is generated both from the direct sale of these energy servers and from long-term service agreements that provide ongoing maintenance and support. Bloom Energy also enters into power purchase agreements (PPAs) with certain customers, where they retain ownership of the energy servers and sell the generated power to the customer over a specified period. Additionally, the company may receive revenue from government incentives and grants aimed at promoting clean energy technologies. Strategic partnerships with organizations in various industries also play a role in expanding their market presence and revenue opportunities.

Bloom Energy Financial Statement Overview

Summary

Bloom Energy has demonstrated solid financial improvement with revenue growth and a move towards profitability. The income statement reflects a positive trajectory with improved gross and net profit margins. The balance sheet shows better leverage management, although high leverage remains a risk. Strong cash flow generation highlights effective management and positions the company well for future growth.

Income Statement

Bloom Energy has shown significant improvement in its income statement metrics over the TTM (Trailing-Twelve-Months). The company experienced a robust revenue growth rate, increasing from $1,473.9 million to $1,564.6 million, reflecting a positive growth trajectory. Gross profit margin improved to 31.5%, suggesting better cost management. The net profit margin turned positive at 0.3%, indicating a shift towards profitability after a series of losses. EBIT and EBITDA margins have also improved, demonstrating enhanced operational efficiency. However, the company still faces challenges in maintaining consistent profitability.

Balance Sheet

The balance sheet of Bloom Energy reflects a moderate financial position. The debt-to-equity ratio improved to 2.20, indicating better leverage management, though still relatively high. The return on equity (ROE) turned positive at 0.8%, signaling improved returns for shareholders. The equity ratio stands at 22.2%, suggesting moderate equity financing. While the company has made progress in reducing its debt levels, the high leverage remains a potential risk factor.

Cash Flow

Bloom Energy's cash flow metrics show a strong performance, with a significant improvement in free cash flow growth rate, which increased from $33.1 million to $76.9 million. The operating cash flow to net income ratio is favorable at 28.7, reflecting strong cash generation relative to net income. The free cash flow to net income ratio of 17.2 indicates effective cash management. The company’s ability to generate cash has strengthened, providing a solid foundation for future growth.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	1.56B	1.47B	1.33B	1.20B	972.18M	794.25M
Gross Profit	492.48M	404.65M	197.79M	148.29M	197.58M	165.79M
EBITDA	100.24M	89.33M	-135.13M	-198.89M	-60.14M	-42.44M
Net Income	4.48M	-29.23M	-302.12M	-315.09M	-193.37M	-179.09M
Balance Sheet
Total Assets	2.61B	2.66B	2.41B	1.95B	1.73B	1.45B
Cash, Cash Equivalents and Short-Term Investments	794.75M	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	2.01B	2.07B	1.89B	1.57B	1.73B	1.31B
Stockholders Equity	578.27M	562.47M	502.08M	340.78M	-44.33M	78.82M
Cash Flow
Free Cash Flow	76.91M	33.15M	-456.27M	-308.55M	-110.49M	-136.61M
Operating Cash Flow	128.58M	92.00M	-372.53M	-191.72M	-60.68M	-98.69M
Investing Cash Flow	-51.57M	-58.78M	-83.72M	-116.82M	-46.70M	-37.91M
Financing Cash Flow	173.19M	175.21M	683.35M	220.55M	306.38M	175.93M

Bloom Energy Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 23.92
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: 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 23.92 is above the 20-day moving average (MA) of 21.70, above the 50-day MA of 19.63, and above the 200-day MA of 19.50, indicating a bullish trend. The MACD of 0.87 indicates Negative momentum. The RSI at 64.33 is Neutral, neither overbought nor oversold. The STOCH value of 66.32 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for BE.

Bloom Energy Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ATKR	74 Outperform	$2.39B	13.70	12.73%	1.85%	-12.02%	-67.69%
BE	73 Outperform	$5.15B	―	0.86%	―	20.95%	―
Sector *	67 Neutral	€8.43B	18.55	6.19%	2.63%	2.39%	-39.55%
PLUG	56 Neutral	$1.33B	―	-83.81%	―	-19.85%	4.94%
EOSE	56 Neutral	$1.09B	―	125.43%	―	37.60%	-161.38%
FCEL	51 Neutral	$125.58M	―	-20.52%	―	48.62%	0.23%
SKYX	44 Neutral	$125.62M	―	-395.45%	―	12.42%	23.63%

Bloom Energy Corporate Events

Bloom Energy Extends Debt Maturity with Note Swap

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.