Bloom Energy (BE)
NYSE:BE
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Bloom Energy
(NYSE:BE)
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Rating:55Neutral
Price Target:
$137.00
▲(2.82% Upside)
Action:ReiteratedDate:03/27/26
The score is held back primarily by balance-sheet leverage and still-inconsistent profitability despite improving operations and cash generation. The latest earnings call provides a meaningful offset via strong 2026 guidance and backlog-driven demand visibility, while technicals and valuation are weaker due to soft near-term momentum and lack of earnings-based valuation support.
Positive Factors
Revenue growth & backlog
Sustained top-line acceleration and a multi-billion product and service backlog provide durable demand visibility across 2–6 months. A large backlog supports predictable revenue conversion, enables production planning and scale benefits, and reduces near‑term demand risk while management executes on deliveries.
Negative Factors
High leverage
Elevated debt-to-equity (~3.9x) and a large absolute debt balance constrain financial flexibility, increase refinancing and interest-rate sensitivity, and limit capacity for opportunistic investment. High leverage raises structural risk if cash flow weakens or if execution slips during expansion.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue growth & backlog
Sustained top-line acceleration and a multi-billion product and service backlog provide durable demand visibility across 2–6 months. A large backlog supports predictable revenue conversion, enables production planning and scale benefits, and reduces near‑term demand risk while management executes on deliveries.
Read all positive factors
Bloom Energy (BE) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$37.46B
Dividend YieldN/A
Average Volume (3M)10.17M
Price to Earnings (P/E)―
Beta (1Y)2.35
Revenue Growth44.53%
EPS GrowthN/A
CountryUS
Employees2,127
SectorIndustrials
Sector Strength72
IndustryElectrical Equipment & Parts
Share Statistics
EPS (TTM)0.45
Shares Outstanding280,548,220
10 Day Avg. Volume10,185,927
30 Day Avg. Volume10,173,440
Financial Highlights & Ratios
PEG Ratio-1.27
Price to Book (P/B)27.02
Price to Sales (P/S)10.26
P/FCF Ratio363.13
Enterprise Value/Market Cap0.86
Enterprise Value/Revenue15.84
Enterprise Value/Gross Profit51.27
Enterprise Value/Ebitda1.60K
Forecast
1Y Price Target
$146.17Price Target Upside9.70% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering19
EPS Forecast (FY)1.44
Revenue Forecast (FY)$3.15B
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 conve...
How the Company Makes Money
Bloom Energy primarily makes money by selling and deploying fuel cell power generation systems and by providing associated services over the life of those systems. Key revenue streams generally include: (1) Product and installation-related revenue...
Bloom Energy Key Performance Indicators (KPIs)
Any
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.
Shows the efficiency of various segments in converting revenue into profit, indicating competitive strengths and potential vulnerabilities in the business model.
Data provided by:
The Fly
The FlyBloom Energy Earnings Call Summary
Earnings Call Date:Feb 05, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 06, 2026
Earnings Call Sentiment Positive
The call conveyed strong, broad-based progress: record annual revenue, sizable backlog growth (product backlog +140% YoY), sustained service profitability (eight consecutive profitable quarters and ~20% service gross margin in Q4), solid full-year adjusted EBITDA ($271.6M), and a healthy cash position ($2.5B). Management emphasized technology differentiation (800V DC readiness, battery-free load following, absorption chilling) and rapid deployment capability (examples of deliveries well ahead of commitments). Key near-term risks discussed include quarterly gross-margin volatility (Q4 margin down vs prior year), elevated inventory, and a wide operating-income guidance range which introduces execution uncertainty. On balance, the highlights — strong growth, improving margins at scale, service profitability, robust backlog, and technology leadership — materially outweigh the lowlights, though execution and margin consistency will be important to realize the bullish guidance.Positive Updates
Record Revenue and Accelerated Growth
Q4 revenue of $777.7M, up 35.9% year-over-year; FY2025 revenue of $2.0B, up 37.3% YoY. Product backlog increased ~140% YoY to about $6B and total service backlog is approximately $14B, signaling strong forward demand.
Negative Updates
Q4 Gross Margin Compression
Q4 non-GAAP gross margin declined to 31.9% from 39.3% in Q4 2024 (a decline of ~7.4 percentage points), attributed to project mix volatility. Management noted gross margin will continue to fluctuate quarter-to-quarter.
Read all updates
Q4-2025 Updates
Positive
Negative
Record Revenue and Accelerated Growth
Q4 revenue of $777.7M, up 35.9% year-over-year; FY2025 revenue of $2.0B, up 37.3% YoY. Product backlog increased ~140% YoY to about $6B and total service backlog is approximately $14B, signaling strong forward demand.
Read all positive updates
Company Guidance
Bloom guided 2026 revenue of $3.1–$3.3 billion, non‑GAAP gross margin of ~32%, and non‑GAAP operating income of approximately $125 million to $475 million, with capital spending of $150–$200 million and cash flow from operations expected to be close to $200 million; management said it will invest in R&D and commercial expansion while relying on operating leverage to drive profit expansion. For context, Bloom finished 2025 with record revenue of $2.0 billion, adjusted EBITDA of $271.6 million, non‑GAAP gross margin ~30.3% (Q4 product margins ~37%, service ~20%), ended the quarter with $2.5 billion cash, inventory of $643 million, a product backlog of about $6 billion (up 140% year‑over‑year) and roughly $14 billion of service backlog.Bloom Energy Financial Statement Overview
Summary
Income Statement
56
Neutral
Balance Sheet
38
Negative
Cash Flow
62
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 2.02B | 1.47B | 1.33B | 1.20B | 972.18M |
| Gross Profit | 587.40M | 404.65M | 197.79M | 148.29M | 195.01M |
| EBITDA | 20.05M | 89.33M | -135.13M | -198.89M | -60.14M |
| Net Income | -88.43M | -29.23M | -302.12M | -301.41M | -164.44M |
Balance Sheet | |||||
| Total Assets | 4.40B | 2.66B | 2.41B | 1.95B | 1.73B |
| Cash, Cash Equivalents and Short-Term Investments | 2.45B | 802.85M | 664.59M | 348.50M | 396.04M |
| Total Debt | 2.99B | 1.53B | 1.45B | 1.02B | 1.12B |
| Total Liabilities | 3.60B | 2.07B | 1.89B | 1.57B | 1.73B |
| Stockholders Equity | 768.64M | 562.47M | 502.08M | 340.78M | -44.33M |
Cash Flow | |||||
| Free Cash Flow | 57.19M | 33.15M | -456.27M | -308.55M | -110.49M |
| Operating Cash Flow | 113.95M | 92.00M | -372.53M | -191.72M | -60.68M |
| Investing Cash Flow | -93.12M | -58.78M | -83.72M | -116.82M | -46.70M |
| Financing Cash Flow | 1.51B | 175.21M | 683.35M | 211.36M | 306.38M |
Bloom Energy Technical Analysis
Neutral
133.24
Price Trends
152.36
Negative
130.16
Positive
92.86
Positive
Market Momentum
-1.72
Positive
41.94
Neutral
24.80
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BE, the sentiment is Neutral. The current price of 133.24 is below the 20-day moving average (MA) of 153.45, below the 50-day MA of 152.36, and above the 200-day MA of 92.86, indicating a neutral trend. The MACD of -1.72 indicates Positive momentum. The RSI at 41.94 is Neutral, neither overbought nor oversold. The STOCH value of 24.80 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for BE.
Bloom Energy Risk Analysis
Bloom Energy disclosed 59 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
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
55 Neutral | $37.46B | -234.84 | -13.63% | ― | 44.53% | ― | |
52 Neutral | $1.11B | -10.09 | -0.23% | ― | 45.98% | 44.14% | |
50 Neutral | $3.14B | -1.40 | -110.00% | ― | 2.53% | -2.83% | |
50 Neutral | $646.32M | -10.84 | 234.11% | ― | -69.30% | 9.90% | |
48 Neutral | $364.49M | -4.17 | -26.54% | ― | 41.05% | -1.02% | |
46 Neutral | $1.64B | -3.08 | 73.98% | ― | 324.10% | -214.91% |
* Industrials Sector Average
BE
Bloom Energy
133.24
112.91
555.39%
FCEL
Fuelcell Energy
6.53
1.83
38.94%
PLUG
Plug Power
2.18
0.84
62.69%
EOSE
Eos Energy Enterprises
4.86
0.92
23.35%
ENVX
Enovix
5.23
-2.25
-30.08%
ADSE
ADS-TEC Energy
11.37
-3.61
-24.10%
Bloom Energy Corporate Events
Business Operations and StrategyExecutive/Board Changes
Bloom Energy Appoints New CFO to Drive Growth
Positive
Mar 26, 2026
On March 26, 2026, Bloom Energy announced that Simon Edwards will become chief financial officer on April 13, 2026, with acting principal financial officer Maciej Kurzymski continuing as principal accounting officer. The appointment brings in a fi...
Business Operations and StrategyFinancial Disclosures
Bloom Energy posts record 2025 revenue on AI demand
Positive
Feb 5, 2026
On February 5, 2026, Bloom Energy reported record full-year 2025 revenue of $2.02 billion, up 37.3% from 2024, driven by strong growth in AI data center demand and continued strength in its commercial and industrial business. The company expanded ...
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.