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Bloom Energy (BE)
NYSE:BE
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Bloom Energy (BE) AI Stock Analysis

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BE

Bloom Energy

(NYSE:BE)

Rating:70Neutral
Price Target:
$28.00
▲(7.98%Upside)
Bloom Energy's overall score is driven by solid financial performance improvements and positive technical indicators, indicating an upward trend. A strong earnings call supports future growth expectations, despite valuation concerns due to a negative P/E ratio and the absence of dividends. Corporate events are factored into financial performance, with strategic debt management enhancing flexibility.
Positive Factors
Market Position and Growth
Bloom Energy is trading at a discount to its historical multiples, and the elevated power demand needs might lead to multiple expansions with increased order visibility.
Tax Credits and Revenue
The unexpected qualification for 48E tax credits provides an opportunity for increased revenue and margin estimates starting in FY26.
Technological Advantage
The company's field-tested solid-oxide fuel-cell technology offers efficient, clean, and configurable electricity solutions, expanding growth opportunities.
Negative Factors
Management and Leadership
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.
Order Delays
The 48E tax credit for fuel cells starts in January 2026 which could lead to order delays out of FY25, as some customers might opt to delay installation into 2026 to qualify for the incentive.
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 (BE) vs. SPDR S&P 500 ETF (SPY)

Bloom Energy Business Overview & Revenue Model

Company DescriptionBloom Energy Corporation is a leading provider of innovative energy solutions, specializing in the design, manufacture, and sale of solid oxide fuel cell systems. These systems are designed to provide clean, reliable, and affordable power to businesses and organizations across various sectors, including healthcare, data centers, retail, and utilities. Headquartered in San Jose, California, Bloom Energy aims to deliver sustainable energy solutions that reduce carbon emissions and offer energy independence to its clients.
How the Company Makes MoneyBloom 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 Key Performance Indicators (KPIs)

Any
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:Apr 30, 2025
(Q1-2025)
|
% Change Since: 41.54%|
Next Earnings Date:Jul 31, 2025
Earnings Call Sentiment Positive
The earnings call highlighted Bloom Energy's strong start to 2025 with record revenue and profitability improvements, particularly in the service segment and international markets. However, challenges such as tariff impacts and economic uncertainty affecting consumer-facing business decision-making cycles present potential headwinds. The transition of the CFO role adds another layer of uncertainty.
Q1-2025 Updates
Positive Updates
Record First Quarter Revenue
Bloom Energy reported a record first quarter revenue of $326 million, up 39% year-over-year, marking the best first quarter in the company's 24-year history.
Positive Financial Performance
The company achieved its first-ever positive Q1 non-GAAP EPS, with an EPS of $0.03 per share versus a loss of $0.17 per share a year ago. EBITDA was $25.2 million, compared to a negative $18.2 million in Q1 2024.
Strong Service Segment
Bloom Energy's service segment was profitable for the fifth consecutive quarter, indicating improved performance and profitability in this area.
Expansion in International Markets
International expansion continues to progress well, with strong performance in Korea and growth in other regions like Taiwan and parts of Europe.
Negative Updates
Tariff Impact on Margins
The ongoing tariff situation could impact gross margins by up to 100 basis points for the year. The company is working to mitigate this impact through cost reduction efforts.
Consumer-Facing Business Slowdown
Decision-making cycles for consumer-facing businesses, such as retail, are expected to stretch out due to economic uncertainty, potentially affecting future sales.
CFO Transition
CFO Dan Berenbaum will be leaving the company, which could bring some uncertainty during the transition period until a permanent replacement is found.
Company Guidance
During Bloom Energy's first quarter 2025 earnings call, the company provided guidance reaffirming their confidence in achieving 2025 revenue between $1.65 billion to $1.85 billion and a non-GAAP gross margin of approximately 29%. The guidance also projected a non-GAAP operating income of about $150 million, with expectations of positive cash flow from operations at levels similar to 2024. Despite potential tariff impacts, Bloom Energy anticipates up to a 100 basis point influence on their gross margin but remains committed to their margin and profit guidance through cost reductions and efficiency improvements. The call highlighted strong revenue of $326 million for Q1 2025, a 39% year-over-year increase, and a positive non-GAAP EPS for the first time in Q1, reflecting disciplined execution across sales, service, technology, and manufacturing.

Bloom Energy Financial Statement Overview

Summary
Bloom Energy has demonstrated solid financial improvement across key metrics. The income statement reflects revenue growth and a move towards profitability, while the balance sheet shows better leverage management despite ongoing risks. The cash flow statement highlights strong cash generation and effective management. These improvements position Bloom Energy well for future growth, although careful attention to leverage and profitability stability is necessary to sustain long-term success.
Income Statement
75
Positive
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
68
Positive
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
80
Positive
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.
BreakdownDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue1.47B1.33B1.20B972.18M794.25M
Gross Profit404.65M197.79M148.29M197.58M165.79M
EBITDA89.33M-135.13M-198.89M-60.14M-42.44M
Net Income-29.23M-302.12M-315.09M-193.37M-179.09M
Balance Sheet
Total Assets2.66B2.41B1.95B1.73B1.45B
Cash, Cash Equivalents and Short-Term Investments802.85M664.59M348.50M396.04M246.95M
Total Debt1.53B1.45B1.02B1.12B913.37M
Total Liabilities2.07B1.89B1.57B1.73B1.31B
Stockholders Equity562.47M502.08M340.78M-44.33M78.82M
Cash Flow
Free Cash Flow33.15M-456.27M-308.55M-110.49M-136.61M
Operating Cash Flow92.00M-372.53M-191.72M-60.68M-98.69M
Investing Cash Flow-58.78M-83.72M-116.82M-46.70M-37.91M
Financing Cash Flow175.21M683.35M220.55M306.38M175.93M

Bloom Energy Technical Analysis

Technical Analysis Sentiment
Positive
Last Price25.93
Price Trends
50DMA
21.90
Positive
100DMA
21.10
Positive
200DMA
20.59
Positive
Market Momentum
MACD
1.06
Positive
RSI
59.31
Neutral
STOCH
37.68
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 25.93 is above the 20-day moving average (MA) of 24.35, above the 50-day MA of 21.90, and above the 200-day MA of 20.59, indicating a bullish trend. The MACD of 1.06 indicates Positive momentum. The RSI at 59.31 is Neutral, neither overbought nor oversold. The STOCH value of 37.68 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 (59)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
74
Outperform
$2.53B14.4712.73%1.72%-12.02%-67.69%
BEBE
70
Neutral
$5.80B0.86%20.95%
59
Neutral
AU$1.66B10.1911.24%3.52%6.75%3.18%
58
Neutral
$2.11B-83.81%-19.85%4.94%
54
Neutral
$1.45B125.43%37.60%-161.38%
46
Neutral
$130.59M-20.52%48.62%0.23%
44
Neutral
$111.19M-395.45%12.42%23.63%
* Industrials Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
BE
Bloom Energy
25.93
11.45
79.07%
FCEL
Fuelcell Energy
5.73
-9.97
-63.50%
PLUG
Plug Power
1.84
-0.59
-24.28%
ATKR
Atkore International Group
75.13
-55.39
-42.44%
SKYX
SQL Technologies
1.06
-0.06
-5.36%
EOSE
Eos Energy Enterprises
6.03
4.18
225.95%

Bloom Energy Corporate Events

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: Jul 11, 2025