Fluence Energy Inc Class A (FLNC)
NASDAQ:FLNC
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Fluence Energy
(NASDAQ:FLNC)
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Rating:46Neutral
Price Target:
$13.00
▼(-1.89% Downside)
Action:ReiteratedDate:04/04/26
The score is held back primarily by weak financial quality (negative cash flow, inconsistent profitability, and higher leverage) and bearish technicals (below key moving averages with negative momentum). Reaffirmed FY2026 guidance, record backlog/order momentum, and strong liquidity provide a meaningful offset, but near-term margin/execution risk and tighter credit terms keep the overall profile in the mid-to-lower range.
Positive Factors
Record Backlog & Demand
A $5.5B backlog covering the revenue midpoint materially increases multi‑month revenue visibility and reduces demand risk. Consistent large order intake supports production planning, customer commitments, and contractual revenue conversion, underpinning structural growth over the next 2–6 months.
Negative Factors
Negative Cash Generation
Sustained negative operating and free cash flow increases dependence on external financing to fund working capital and capex needs. Over 2–6 months this heightens execution risk if credit tightens, limits reinvestment capacity, and raises the importance of converting backlog to cash receipts.
Read all positive and negative factors
Positive Factors
Negative Factors
Record Backlog & Demand
A $5.5B backlog covering the revenue midpoint materially increases multi‑month revenue visibility and reduces demand risk. Consistent large order intake supports production planning, customer commitments, and contractual revenue conversion, underpinning structural growth over the next 2–6 months.
Read all positive factors
Fluence Energy (FLNC) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.44B
Dividend YieldN/A
Average Volume (3M)3.89M
Price to Earnings (P/E)―
Beta (1Y)1.89
Revenue Growth-16.15%
EPS Growth-324.40%
CountryUS
Employees1,595
SectorUtilities
Sector Strength65
IndustryRenewable Utilities
Share Statistics
EPS (TTM)-0.34
Shares Outstanding132,436,080
10 Day Avg. Volume3,306,059
30 Day Avg. Volume3,890,365
Financial Highlights & Ratios
PEG Ratio0.10
Price to Book (P/B)3.28
Price to Sales (P/S)0.62
P/FCF Ratio-8.03
Enterprise Value/Market Cap0.97
Enterprise Value/Revenue0.93
Enterprise Value/Gross Profit7.97
Enterprise Value/Ebitda-107.38
Forecast
1Y Price Target
$20.58Price Target Upside55.32% Upside
Rating ConsensusHold
Number of Analyst Covering14
EPS Forecast (FY)-0.09
Revenue Forecast (FY)$3.38B
Fluence Energy Business Overview & Revenue Model
Company Description
Fluence Energy, Inc. provides energy storage products and services, and artificial intelligence enabled digital applications for renewables and storage applications worldwide. The company sells energy storage products with integrated hardware, sof...
How the Company Makes Money
Fluence primarily makes money by selling and delivering battery energy storage systems and related services to customers, recognized as revenue as projects are executed under customer contracts. Its major revenue stream is the sale of energy stora...
Fluence Energy Key Performance Indicators (KPIs)
Any
Backlog
Represents the value of unfulfilled orders, indicating future revenue visibility and the strength of product demand.
Represents the value of unfulfilled orders, indicating future revenue visibility and the strength of product demand.
Data provided by:
The Fly
The FlyFluence Energy Earnings Call Summary
Earnings Call Date:Feb 04, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:May 13, 2026
Earnings Call Sentiment Positive
The call conveyed strong commercial momentum (record $5.5B backlog, $750M+ Q1 bookings, ~30% pipeline growth) and robust liquidity ($1.1B), with clear progress on domestic supply chain and legal risk reduction. However, Q1 margin weakness (5.6% adjusted gross margin), a negative adjusted EBITDA (-$52M), and discrete ~$20M project costs underscore near-term execution and margin risks. Several large upside opportunities (data center and long-duration projects) remain at an early stage and must be converted to backlog to materially impact near-term results. On balance, the positives (backlog, bookings, pipeline growth, liquidity, supply-chain progress, legal wins, reaffirmed FY guidance) outweigh the near-term margin and execution headwinds.Positive Updates
Record Backlog and Strong Order Intake
Backlog reached a record $5.5 billion. Q1 order intake exceeded $750 million globally, with over $500 million from the U.S.; management noted that the midpoint of full-year revenue guidance is fully covered by backlog.
Negative Updates
Q1 Gross Margin Weakness and EBITDA Loss
Adjusted gross profit for the quarter was $27 million, representing an adjusted gross margin of 5.6%, well below the company's full-year target range of 11%–13%. This resulted in adjusted EBITDA of negative $52 million for the quarter. Management attributes much of the variance to seasonal Q1 dynamics and specific project items rather than structural issues; rolling 12-month adjusted gross margin was cited at 12.3%.
Read all updates
Q1-2026 Updates
Positive
Negative
Record Backlog and Strong Order Intake
Backlog reached a record $5.5 billion. Q1 order intake exceeded $750 million globally, with over $500 million from the U.S.; management noted that the midpoint of full-year revenue guidance is fully covered by backlog.
Read all positive updates
Company Guidance
Fluence reaffirmed its FY‑2026 guidance, calling for revenue of $3.2–$3.6 billion (midpoint $3.4B) — with the midpoint fully covered by a record $5.5B backlog — adjusted EBITDA of $40–$60M, and adjusted gross margin of 11–13%; the company also expects annual recurring revenue of about $180M by year‑end. In Q1 it reported $475M of revenue (14% of the full‑year guide), $27M of adjusted gross profit (5.6% quarter margin vs. the 11–13% full‑year target), adjusted EBITDA of negative $52M, about $20M of discrete project costs it expects to recover, liquidity of roughly $1.1B (cash $477M plus $617M available on credit), Q1 order intake of >$750M (>$500M in the U.S.), and a ~ $7B (30%) expansion in its pipeline.Fluence Energy Financial Statement Overview
Summary
Income Statement
46
Neutral
Balance Sheet
52
Neutral
Cash Flow
34
Negative
| Breakdown | TTM | Sep 2025 | Sep 2024 | Sep 2023 | Sep 2022 | Sep 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.55B | 2.26B | 2.70B | 2.22B | 1.20B | 680.77M |
| Gross Profit | 297.63M | 295.79M | 341.08M | 140.96M | -62.35M | -69.14M |
| EBITDA | -22.09M | -16.99M | 41.10M | -101.94M | -276.41M | -153.63M |
| Net Income | -51.92M | -48.31M | 22.72M | -69.62M | -289.18M | -162.00M |
Balance Sheet | ||||||
| Total Assets | 2.27B | 2.36B | 1.90B | 1.35B | 1.75B | 717.67M |
| Cash, Cash Equivalents and Short-Term Investments | 452.56M | 690.77M | 448.69M | 345.90M | 467.65M | 36.83M |
| Total Debt | 391.25M | 390.80M | 30.36M | 50.56M | 2.74M | 100.00M |
| Total Liabilities | 1.78B | 1.81B | 1.30B | 795.82M | 1.12B | 773.87M |
| Stockholders Equity | 387.99M | 429.60M | 472.10M | 402.35M | 435.83M | -56.20M |
Cash Flow | ||||||
| Free Cash Flow | -195.06M | -175.34M | 60.71M | -124.15M | -290.32M | -269.56M |
| Operating Cash Flow | -161.10M | -145.54M | 79.69M | -111.93M | -282.38M | -265.27M |
| Investing Cash Flow | -33.96M | -29.80M | -18.98M | 94.44M | -148.42M | -22.29M |
| Financing Cash Flow | -5.74M | 356.88M | -8.68M | 52.59M | 817.05M | 231.13M |
Fluence Energy Technical Analysis
Negative
13.25
Price Trends
18.32
Negative
19.69
Negative
15.30
Negative
Market Momentum
-1.24
Positive
35.58
Neutral
23.81
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FLNC, the sentiment is Negative. The current price of 13.25 is below the 20-day moving average (MA) of 15.19, below the 50-day MA of 18.32, and below the 200-day MA of 15.30, indicating a bearish trend. The MACD of -1.24 indicates Positive momentum. The RSI at 35.58 is Neutral, neither overbought nor oversold. The STOCH value of 23.81 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for FLNC.
Fluence Energy Risk Analysis
Fluence Energy disclosed 76 risk factors in its most recent earnings report. Fluence Energy 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 0 New Risks
Fluence Energy 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% | |
55 Neutral | $1.73B | -231.49 | 10.05% | ― | 42.09% | 219.69% | |
54 Neutral | $520.65M | -9.34 | -117.28% | ― | -35.99% | -46.51% | |
48 Neutral | $34.40M | -10.17 | -54.97% | ― | -40.99% | -46.52% | |
47 Neutral | $3.10B | -6.52 | -41.93% | ― | 765.67% | -202.81% | |
47 Neutral | $53.61M | -4.03 | -602.83% | ― | 146.01% | 63.18% | |
46 Neutral | $2.44B | -14.43 | -12.87% | ― | -16.15% | -324.40% |
* Utilities Sector Average
FLNC
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13.25
8.83
199.77%
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Fluence Energy Corporate Events
Business Operations and StrategyPrivate Placements and Financing
Fluence Energy Amends Syndicated Credit Facility, Tightens Terms
Negative
Apr 3, 2026
On March 31, 2026, Fluence Energy, Inc. amended its existing syndicated credit facility, extending the trigger date and a $150 million minimum liquidity covenant by one year to December 31, 2026, and delaying the initial test date for its 3.50:1.0...
Executive/Board ChangesShareholder Meetings
Fluence Energy Stockholders Back Board, Pay and Incentives
Positive
Mar 16, 2026
On March 12, 2026, Fluence Energy held its annual meeting of stockholders, where a quorum representing 351,998,526 votes was present out of 389,772,713 eligible votes across its multi-class common stock structure. Shareholders elected twelve direc...
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.