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Brenmiller
(NASDAQ:BNRG)
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Rating:41Neutral
Price Target:
$0.80
▲(53.08% Upside)
Action:Upgraded
Date:07/18/26
The score is driven primarily by weak financial performance, marked by persistent losses, significant negative free cash flow, and elevated leverage. Technical indicators also point to bearish momentum with the stock trading below key moving averages. Valuation provides limited offset since a negative P/E reflects ongoing losses and no dividend yield support is available.
Positive Factors
Asset-backed recurring revenue
Acquiring a 1.2 MWp PV asset marks a structural shift to owning income-producing infrastructure. This supports Brenmiller’s BNRG360 Energy-as-a-Service model, creating recurring revenue, improving project cash yields vs. one-off equipment sales, and better aligning incentives with industrial offtakers.
Negative Factors
Persistent unprofitability
The company reports sustained negative gross profit and large operating losses, indicating the core business is not yet commercially viable. Persistent unprofitability undermines reinvestment capacity, stresses cash reserves, and makes long-term scaling dependent on external financing or rapid margin improvement.
Read all positive and negative factors
Positive Factors
Negative Factors
Asset-backed recurring revenue
Acquiring a 1.2 MWp PV asset marks a structural shift to owning income-producing infrastructure. This supports Brenmiller’s BNRG360 Energy-as-a-Service model, creating recurring revenue, improving project cash yields vs. one-off equipment sales, and better aligning incentives with industrial offtakers.
Read all positive factors
Brenmiller (BNRG) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$430.21K
Dividend YieldN/A
Average Volume (3M)52.26K
Price to Earnings (P/E)―
Beta (1Y)1.25
Revenue GrowthN/A
EPS Growth21.46%
CountryUS
Employees46
SectorUtilities
Sector Strength65
IndustryRenewable Utilities
Share Statistics
EPS (TTM)-281.16
Shares Outstanding515,465
10 Day Avg. Volume53,873
30 Day Avg. Volume52,259
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)0.40
Price to Sales (P/S)3.64
P/FCF Ratio-0.13
Enterprise Value/Market Cap3.37
Enterprise Value/Revenue3.74
Enterprise Value/Gross Profit-0.45
Enterprise Value/Ebitda-0.12
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 | -415.00K | -3.66M |
| EBITDA | -12.97M | -6.30M | -9.26M | -10.70M | -9.83M |
| Net Income | -13.90M | -6.77M | -9.65M | -11.07M | -11.02M |
Balance Sheet | |||||
| Total Assets | 12.49M | 11.91M | 10.59M | 12.38M | 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 | 6.65M | 3.41M |
| Total Liabilities | 9.00M | 7.43M | 7.71M | 9.72M | 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 | -8.26M |
| Operating Cash Flow | -10.40M | -9.51M | -6.92M | -10.10M | -8.02M |
| 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 Technical Analysis
Negative
0.52
Price Trends
1.37
Negative
2.55
Negative
18.32
Negative
Market Momentum
-0.19
Negative
40.88
Neutral
27.68
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BNRG, the sentiment is Negative. The current price of 0.52 is below the 20-day moving average (MA) of 0.88, below the 50-day MA of 1.37, and below the 200-day MA of 18.32, indicating a bearish trend. The MACD of -0.19 indicates Negative momentum. The RSI at 40.88 is Neutral, neither overbought nor oversold. The STOCH value of 27.68 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for BNRG.
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% | |
41 Neutral | $430.21K | >-0.01 | -327.21% | ― | ― | 21.46% | |
| ― | $3.93M | -1.64 | -1.95% | ― | 1598.12% | 73.09% | |
52 Neutral | $50.86M | -13.09 | -64.74% | ― | -77.09% | -82.90% | |
45 Neutral | $48.11M | -3.06 | -43.78% | ― | ― | 26.87% | |
43 Neutral | $8.46M | -1.84 | -177.63% | ― | 838.07% | 88.10% |
* Utilities Sector Average
BNRG
Brenmiller
0.83
-71.97
-98.85%
CREG
Smart Powerr Corp
1.43
-18.87
-92.96%
HTOO
Fusion Fuel Green
2.57
-1.71
-40.05%
WAVE
Eco Wave Power Global
8.71
>-0.01
-0.11%
VGAS
Verde Clean Fuels
1.08
-2.16
-66.67%
Brenmiller Corporate Events
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...
Brenmiller Raises Additional $1 Million in Alpha Capital Funding Tranche to Advance TES Projects
Apr 27, 2026
On April 27, 2026, Brenmiller Energy closed a further $1 million financing tranche under its existing securities purchase agreement with Alpha Capital Anstalt, issuing 1,000 preferred shares convertible at $3.39 per share and ordinary warrants for...
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.