Bloom Energy (BE) AI Stock Analysis

• Market Cap: $22.46B
• Dividend Yield: N/A
• Average Volume (3M): 14.94M
• Price to Earnings (P/E): ―
• Beta (1Y): 2.15
• Revenue Growth: 44.53%
• EPS Growth: N/A
• Country: US
• Employees: 2,127
• Sector: Industrials
• Sector Strength: 72
• Industry: Electrical Equipment & Parts
• EPS (TTM): 0.15
• Shares Outstanding: 236,510,760
• 10 Day Avg. Volume: 12,933,533
• 30 Day Avg. Volume: 14,935,546
• PEG Ratio: 1.90
• Price to Book (P/B): 8.98
• Price to Sales (P/S): 3.43
• P/FCF Ratio: 152.35
• Enterprise Value/Market Cap: 0.93
• Enterprise Value/Revenue: 11.44
• Enterprise Value/Gross Profit: 34.41
• Enterprise Value/Ebitda: 161.01
• 1Y Price Target: $121.00
• Price Target Upside: 27.40% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 18
• EPS Forecast (FY): 0.51
• Revenue Forecast (FY): $1.89B

• Rating: 62 Neutral
• Price Target: $118.00 ▲(24.24% Upside)

Bloom Energy's overall score reflects strong earnings performance and strategic growth initiatives, tempered by high leverage and valuation concerns. The company's robust revenue growth and strategic partnerships are significant positives, but the high P/E ratio and potential market competition present risks.

Positive Factors

Revenue Growth

Consistent revenue growth indicates strong market demand and effective sales strategies, supporting long-term business expansion and stability.

Strategic Partnerships

Strategic partnerships enhance market reach and technological capabilities, providing a competitive edge and fostering sustainable growth.

Cash Generation

Positive cash flow from operations indicates effective financial management, enabling reinvestment in growth initiatives and debt reduction.

Negative Factors

High Leverage

High leverage can increase financial risk, limit flexibility, and strain resources, potentially impacting long-term financial health.

Market Competition

Rising competition may pressure margins and market share, challenging Bloom Energy's ability to maintain its leadership position.

Operational Margins

Low operational margins suggest inefficiencies that could hinder profitability, requiring strategic improvements to enhance financial performance.

Bloom Energy Business Overview & Revenue Model

Company Description

Bloom Energy (BE) is a leading provider of advanced fuel cell technology that generates clean, reliable energy on-site, reducing dependence on traditional power sources. The company operates in the renewable energy sector, focusing on fuel cell systems that convert natural gas and biogas into electricity with minimal emissions. Bloom Energy's core products include the Bloom Energy Server, which is designed for commercial and industrial applications, and its energy services, which support renewable energy integration and energy efficiency.

How the Company Makes Money

Bloom Energy generates revenue primarily through the sale of its fuel cell systems and related services. The company's revenue model includes direct sales of Bloom Energy Servers to customers in various sectors, such as commercial, industrial, and utility markets. Additionally, Bloom Energy earns recurring revenue from long-term service agreements, maintenance contracts, and energy-as-a-service offerings, where customers pay for the energy produced rather than the equipment itself. Key partnerships with major companies and utilities enhance its market reach and provide opportunities for joint projects, further contributing to its revenue streams. Furthermore, government incentives and renewable energy credits also play a significant role in supporting the company's financial performance.

Bloom Energy Financial Statement Overview

Summary

Bloom Energy's financial performance has improved notably with strong revenue growth and a return to profitability. However, high leverage and relatively low operational margins highlight areas for potential risk and improvement.

Income Statement

Bloom Energy has shown significant improvement in its income statement metrics over the TTM period. The gross profit margin has increased to 33.24%, and the net profit margin has turned positive at 0.84%, indicating improved profitability. Revenue growth rate is strong at 11.57%, reflecting robust sales growth. However, the EBIT and EBITDA margins, while positive, remain relatively low at 4.29% and 7.10%, respectively, suggesting room for operational efficiency improvements.

Balance Sheet

The balance sheet shows a high debt-to-equity ratio of 1.94, indicating significant leverage, which could pose a risk if not managed carefully. Return on equity is modest at 2.56%, reflecting limited returns for shareholders. The equity ratio stands at 24.75%, suggesting a moderate level of equity financing relative to total assets. Overall, while there are improvements, the high leverage remains a concern.

Cash Flow

Cash flow metrics have improved significantly, with free cash flow growth at 206.81% and a free cash flow to net income ratio of 0.75, indicating better cash generation relative to profits. The operating cash flow to net income ratio is 0.39, showing that operating cash flows are covering net income adequately. Despite these improvements, maintaining consistent cash flow generation will be crucial.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	1.82B	1.47B	1.33B	1.20B	972.18M	794.25M
Gross Profit	604.60M	404.65M	197.79M	148.29M	195.01M	161.40M
EBITDA	129.21M	89.33M	-135.13M	-198.89M	-60.14M	-42.44M
Net Income	15.27M	-29.23M	-302.12M	-301.41M	-164.44M	-157.55M
Balance Sheet
Total Assets	2.64B	2.66B	2.41B	1.95B	1.73B	1.45B
Cash, Cash Equivalents and Short-Term Investments	595.05M	802.85M	664.59M	348.50M	396.04M	246.95M
Total Debt	1.51B	1.53B	1.45B	1.02B	1.12B	913.37M
Total Liabilities	1.96B	2.07B	1.89B	1.57B	1.73B	1.31B
Stockholders Equity	653.07M	562.47M	502.08M	340.78M	-44.33M	78.82M
Cash Flow
Free Cash Flow	135.19M	33.15M	-456.27M	-308.55M	-110.49M	-136.61M
Operating Cash Flow	180.10M	92.00M	-372.53M	-191.72M	-60.68M	-98.69M
Investing Cash Flow	-69.37M	-58.78M	-83.72M	-116.82M	-46.70M	-37.91M
Financing Cash Flow	-31.69M	175.21M	683.35M	211.36M	306.38M	175.93M

Bloom Energy Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 94.98
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: 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 94.98 is below the 20-day moving average (MA) of 104.33, below the 50-day MA of 109.90, and above the 200-day MA of 51.79, indicating a neutral trend. The MACD of -1.43 indicates Positive momentum. The RSI at 43.41 is Neutral, neither overbought nor oversold. The STOCH value of 22.54 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for BE.

Bloom Energy Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
BE	62 Neutral	$22.46B	―	2.82%	―	44.53%	―
EOSE	56 Neutral	$4.81B	―	―	―	324.10%	-214.91%
ENVX	55 Neutral	$1.86B	―	-68.95%	―	45.98%	44.14%
PLUG	51 Neutral	$3.23B	―	-95.42%	―	2.53%	-2.83%
ADSE	48 Neutral	$559.37M	-7.32	―	―	-69.30%	9.90%
FCEL	45 Neutral	$417.64M	―	-29.51%	―	78.82%	-20.81%

Bloom Energy Corporate Events

Bloom Energy Issues $2.5 Billion Convertible Notes

On November 4, 2025, Bloom Energy Corporation issued $2.5 billion of 0% Convertible Senior Notes due 2030, with an option for initial purchasers to buy an additional $300 million, which was fully exercised. These notes are senior unsecured obligations and are convertible into cash or shares of Class A common stock. Concurrently, Bloom Energy engaged in exchange transactions with holders of its existing convertible notes due 2028 and 2029, exchanging them for cash and shares of Class A common stock. This strategic financial maneuver aims to optimize Bloom Energy’s capital structure and support its corporate initiatives, including research and development and manufacturing expansion.

Bloom Energy Seeks $600 Million Credit Facility

Bloom Energy is negotiating a senior secured credit facility to obtain up to $600 million in revolving commitments. The facility is expected to include covenants that limit the company’s financial activities, and the funds will be used for general corporate purposes, including working capital.

Bloom Energy Partners with Oracle for AI Power Solutions

On October 28, 2025, Bloom Energy announced a partnership with Oracle Corporation to enhance power solutions for AI data centers. As part of this collaboration, Bloom Energy agreed to issue a warrant to Oracle for the purchase of over 3.5 million shares of its Class A Common Stock, aiming to accelerate the adoption of its fuel cell technology in the industry.

Bloom Energy Reports Record Q3 2025 Financial Performance

Bloom Energy reported a significant financial performance for the third quarter of 2025, with a revenue of $519 million, marking a 57.1% increase from the same period in 2024. The company achieved its fourth consecutive quarter of record revenue and positive cash flow from operating activities, driven by a strategic partnership with Brookfield Asset Management and accelerating commercial progress. The company also reported an operating income of $7.8 million, a substantial improvement from the previous year’s loss, and highlighted its position at the forefront of a transformative opportunity in power generation.