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Brenmiller
(NASDAQ:BNRG)
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Rating:39Underperform
Price Target:
$0.37
▼(-44.33% Downside)
Action:Downgraded
Date:08/01/26
The score is driven primarily by very weak financial performance (persistent losses, negative gross profit, ongoing cash burn, and elevated leverage). Technicals further pressure the score as the stock trades well below major moving averages, signaling a strong downtrend. Valuation provides limited support because the company is loss-making (negative P/E) and no dividend yield is available.
Positive Factors
Shift to recurring-revenue asset model (BNRG360)
Moving from one-off TES equipment sales toward owning integrated energy assets creates recurring cash flows and long-term customer relationships. The Hungarian PV purchase and planned multi-technology hub can stabilize revenue timing, improve asset utilization, and align margins with infrastructure returns.
Negative Factors
Persistent negative cash generation
Consistent negative operating and free cash flow means the business consumes cash to operate and expand. Over months this forces dependence on external financings, increases dilution or debt risk, and constrains the company's ability to scale deployments or fund working capital without continued investor support.
Read all positive and negative factors
Positive Factors
Negative Factors
Shift to recurring-revenue asset model (BNRG360)
Moving from one-off TES equipment sales toward owning integrated energy assets creates recurring cash flows and long-term customer relationships. The Hungarian PV purchase and planned multi-technology hub can stabilize revenue timing, improve asset utilization, and align margins with infrastructure returns.
Read all positive factors
Brenmiller (BNRG) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.49M
Dividend YieldN/A
Average Volume (3M)52.26K
Price to Earnings (P/E)―
Beta (1Y)1.06
Revenue GrowthN/A
EPS Growth21.46%
CountryUS
Employees46
SectorUtilities
Sector Strength65
IndustryRenewable Utilities
Share Statistics
EPS (TTM)-281.16
Shares Outstanding720,888
10 Day Avg. Volume53,873
30 Day Avg. Volume52,259
Financial Highlights & Ratios
PEG Ratio-0.07
Price to Book (P/B)12.09
Price to Sales (P/S)109.14
P/FCF Ratio-3.98
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit>-0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Brenmiller Business Overview & Revenue Model
Company Description
Brenmiller Energy Ltd. develops, produces, markets, and sells thermal energy storage (TES) systems based on its proprietary and patented technology that enables electrification and decarbonization. It provides bGen TES system that dispatches therm...
How the Company Makes Money
Brenmiller makes money primarily by selling and delivering thermal energy storage projects and related equipment and services. Key revenue streams include: (1) System and project revenues: revenue from the sale, engineering, procurement, construct...
Brenmiller Financial Statement Overview
Summary
Income Statement
8
Very Negative
Balance Sheet
34
Negative
Cash Flow
12
Very Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 387.00K | 0.00 | 621.00K | 1.52M | 395.00K |
| Gross Profit | -3.21M | -985.00K | -934.00K | -786.00K | -3.66M |
| EBITDA | -12.97M | -6.30M | -9.26M | -11.12M | -9.83M |
| Net Income | -13.90M | -6.77M | -9.65M | -11.07M | -11.02M |
Balance Sheet | |||||
| Total Assets | 12.49M | 11.91M | 10.59M | 12.46M | 14.60M |
| Cash, Cash Equivalents and Short-Term Investments | 4.95M | 4.10M | 3.18M | 6.51M | 8.28M |
| Total Debt | 5.84M | 4.82M | 5.61M | 5.79M | 3.41M |
| Total Liabilities | 9.00M | 7.43M | 7.71M | 7.84M | 9.05M |
| Stockholders Equity | 3.49M | 4.49M | 2.88M | 4.63M | 5.54M |
Cash Flow | |||||
| Free Cash Flow | -10.62M | -9.85M | -9.58M | -11.57M | -8.52M |
| Operating Cash Flow | -10.40M | -9.51M | -6.92M | -10.10M | -8.28M |
| Investing Cash Flow | -398.00K | -422.00K | -2.61M | -1.36M | -238.00K |
| Financing Cash Flow | 11.50M | 10.94M | 6.36M | 11.20M | 14.20M |
Brenmiller Risk Analysis
Brenmiller disclosed 54 risk factors in its most recent earnings report. Brenmiller reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 3 New Risks
1.
Our amended and restated articles of association provide that, unless we consent in writing to an alternative forum, the federal district courts of the United States of America shall be the sole and exclusive forum for resolution of any complaint asserting a cause of action arising under the Securities Act, which could limit our shareholders' ability to choose the judicial forum for disputes with us, our directors, shareholders, or other employees. Q4, 2025
2.
You may experience future dilution as a result of future capital raising and other issuances of our securities. Q4, 2025
3.
We have outstanding warrants and preferred shares, some of which contain "full-ratchet" anti-dilution protection, which have caused significant dilution to our shareholders and may cause further significant dilution to our shareholders. Q4, 2025
Brenmiller Peers Comparison
UnderperformOutperform
Sector (66)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | $17.65B | 18.10 | 5.60% | 3.62% | 6.62% | 11.55% | |
52 Neutral | $44.18M | -11.95 | -56.33% | ― | -77.09% | -15.59% | |
46 Neutral | $56.45M | -4.26 | -22.20% | ― | ― | 19.55% | |
43 Neutral | $16.98M | -29.69 | -11.24% | ― | 838.07% | 88.10% | |
39 Underperform | $2.49M | -0.01 | -593.34% | ― | ― | 21.46% | |
31 Underperform | $534.36K | -0.88 | -1.95% | ― | 1598.12% | 73.09% |
* Utilities Sector Average
BNRG
Brenmiller
3.55
-496.25
-99.29%
CREG
Smart Powerr Corp
0.20
-13.70
-98.58%
HTOO
Fusion Fuel Green
2.38
-2.08
-46.64%
WAVE
Eco Wave Power Global
7.15
-0.49
-6.41%
VGAS
Verde Clean Fuels
1.39
-1.27
-47.74%
Brenmiller Corporate Events
Brenmiller Energy to Implement 6-for-1 Reverse Share Split in Mid-August
Aug 7, 2026
On August 7, 2026, Brenmiller Energy announced it will implement a 6-for-1 reverse share split of its ordinary shares after market close on August 12, 2026, with post-split trading on the Nasdaq Capital Market to begin August 13 under the existing...
Brenmiller Energy Installs New CEO as Shareholders Back BrenX Strategic Shift
Jul 30, 2026
On July 30, 2026, Brenmiller Energy announced that shareholders had approved all resolutions at their July 29 Annual and Special General Meeting, clearing the way for a leadership handover in which Nir Brenmiller became chief executive officer whi...
Brenmiller Shareholders Approve All Items at Reconvened July 29 Meeting
Jul 29, 2026
On July 29, 2026, Brenmiller Energy Ltd. held its Annual and Special General Meeting of Shareholders in Israel, which was initially adjourned due to a lack of quorum at 2:00 p.m. Israel time. The meeting reconvened at 3:00 p.m., a quorum was estab...
Brenmiller Shareholders Approve Agenda Item at July 27 Special Meeting
Jul 27, 2026
On July 27, 2026, Brenmiller Energy held a Special General Meeting of Shareholders in Israel that was initially adjourned due to a lack of quorum. The meeting reconvened an hour later, at which point a quorum was present and shareholders approved ...
Brenmiller Energy Wins EIB Waiver as It Advances Debt Settlement for BrenX Strategy
Jul 24, 2026
On July 24, 2026, Brenmiller Energy announced that the European Investment Bank granted a waiver deferring an approximately €1.7 million loan payment that had been due on July 28, 2026, under a 2021 credit facility. The waiver, effective thr...
Brenmiller Energy Calls July 27 Shareholder Vote on Reverse Stock Split
Jul 10, 2026
Brenmiller Energy Ltd., an Israel-based energy technology company headquartered in Rosh Haayin and listed on Nasdaq, serves a diverse shareholder base of record and street-name investors governed by both Israeli corporate law and U.S. securities r...
Brenmiller Energy Secures Additional $1 Million Alpha Capital Funding to Advance TES Projects
Jul 10, 2026
On July 8, 2026, Brenmiller Energy received a notice from investor Alpha Capital Anstalt to exercise an additional $1 million investment right under a July 2025 securities purchase agreement, adding to multiple funding tranches closed between July...
Brenmiller Energy Buys Hungarian Solar Facility to Launch BNRG360 Clean-Energy Hub
Jul 2, 2026
On July 2, 2026, Brenmiller Energy announced the purchase of a 1.2 MWp photovoltaic facility in Hungary located next to its planned industrial energy project with Partner in Pet Food Hungaria. The approximately $1.1 million acquisition is expected...
Brenmiller Energy Sets July 29, 2026 Shareholder Meeting to Vote on Governance, Name Change and Private Placement Terms
Jun 24, 2026
Brenmiller Energy has called an annual and special general meeting of shareholders for July 29, 2026 in Rosh Haayin, Israel, with shareholders of record as of July 3, 2026 eligible to vote. The agenda includes reappointing PwC Israel as auditor, r...
Brenmiller Secures Up to $2.5 Million Premium Financing to Fuel BNRG360 Strategy
Jun 11, 2026
On June 11, 2026, Brenmiller Energy entered into a second amendment to its securities purchase agreement with Alpha Capital Anstalt, securing a $1.5 million investment via convertible preferred shares and accompanying warrants, with an initial con...
Brenmiller Amends ATM Sales Agreement With A.G.P. Ahead of New F-3 Shelf
Jun 4, 2026
On June 3, 2026, Brenmiller Energy amended its at-the-market Sales Agreement with A.G.P./Alliance Global Partners to align it with the expected expiration of its current Form F-3 shelf registration and the planned filing of a replacement shelf. Th...
Brenmiller Energy Raises $1 Million in Sixth Alpha Capital Funding Tranche
Jun 2, 2026
On June 1, 2026, Brenmiller Energy closed a further $1 million funding tranche with investor Alpha Capital Anstalt under a previously signed $25 million securities purchase agreement dating back to July 25, 2025. The latest “Sixth Subsequent...
Brenmiller Energy Elevates Nir Brenmiller to CEO Amid Strategic Decarbonization Push
May 18, 2026
On May 14, 2026, Brenmiller Energy’s board appointed long-time executive Nir Brenmiller as chief executive officer, a move announced publicly on May 18, 2026. His promotion, which is contingent on shareholder approval of updated compensation...
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.