Bloom Energy Corp (BE)

Industrials · Electrical Components & Equipment · US stock · S&P 500 component

$217.77 ▼ -20.76 (8.70%)

At close 22 Oct 2026 · USD · Volume 23,302,400

Compare with EMR

Interactive chart Research report Forecast ranges Pro workspace SEC filings Historical data

Fair valueOvervalued

$150 −31.3% to fair value

$75fair band $127–$181$224

Day's range

$210.74 – $229.91

52-week range

$75.70 – $351.28

Red flags⚠ Heavy dilution⚠ Heavy dilution⚠ Heavy dilution⚠ Heavy dilution⚠ Heavy dilution

About Bloom Energy Corp

On-site power is the focus of Bloom Energy, which builds solid oxide fuel cell systems, called Energy Servers, that generate electricity from natural gas, biogas or hydrogen. The systems give customers power that is independent of the grid or supports it. Customers include data centre operators, large corporations, hospitals, retailers, manufacturers and utilities. The company designs and manufactures the equipment, installs it and provides ongoing maintenance and service.

Revenue comes from Energy Server shipments, installation work, service contracts and some long-term power agreements. Revenue was $2.4 billion over the last twelve months and has grown at 19.1% a year across the last three years. The operating margin is 6.7%, the business earns 11% on the capital invested in it, and net debt is 1.5 times EBITDA. No dividend is paid. On the site's X-Ray Score it receives 32 out of 100.

BE news

Bloom Energy Shares Move Sharply as Reports Point in Different Directions1 day ago

All BE news →

Price chart

Interactive chart Historical data & CSV

52-wk range $75.70 – $351.28Volume 23,302,400Daily, split-adjusted

Vitals

Market cap$69.6B

52-week range$75.70 – $351.28

Volume (last day)23,302,400

P/E (TTM)5,614.1

EBIT / EV yield0.2%

Free-cash-flow yield0.3%

Dividend yieldNo dividend

Revenue (TTM)$2.4B

Net income (TTM)$10M

Operating margin6.7%

Return on capital11.0%

Debt incl. leases$2.7B

Cash & securities$2.5B

Debt = borrowings plus lease liabilities. Cash & securities = cash, equivalents and short-term marketable securities (long-term securities are not counted, so net cash can be understated for companies that hold large long-term investments). Net debt = debt minus cash & securities. Source: latest SEC 10-Q/10-K. EBIT / EV yield = operating profit divided by market cap plus net debt.

Fair value estimate

$150middle half of models $127 – $176

Overvalued −31.3% to fair value

Average of the 10 valuation models that pass our checks: multiples, discounted cash flow, dividend discount and earnings power value. A model more than 100% above or 60% below the price is left out as unrealistic. Model uncertainty is Medium, based on how far apart the models are. Undervalued or Overvalued means the gap to fair value is more than 17.5%.

Price $218

Undervalued < $127Fair $127 – $181Overvalued > $181

P/E multiple

$190

P/B multiple

$103

P/S multiple

$105

EV/EBITDA multiple

$157

EV/EBIT multiple

$144

EV/revenue multiple

$134

10-year DCF, EBITDA exit

$125

5-year DCF, EBITDA exit

$180

10-year DCF, revenue exit

$164

5-year DCF, revenue exit

$194

10-year DCF, growth exit · not used

$3

5-year DCF, growth exit · not used

$4

A model estimate, not a price target or recommendation. Inputs: risk-free 5.13%, equity risk premium 4.30% (Damodaran). How it works.

What this means

Weak business, priced high

Our models put fair value below today's price, so a lot of good news may already be in the price. A high score does not guarantee a good outcome; it shifts the odds a little. Use the checklist as a prompt for your own research.

Before you invest · decision checklist

I understand how this company makes money Business quality is average or better 29 The price is not above fair value $150 fair value Debt looks manageable 1.5× EBITDA Revenue has been growing 19.1% a year Profits are backed by cash There are no red flags 5 raised I know what share of my savings this would be

Ticked boxes are filled in from our data; the rest are yours to answer.

The five-lens scan

Every score explained in one sentence, ranked against Industrials peers. Open a lens to see the numbers behind it.

Strong: 70 to 100Fair: 50 to 69Weak: under 50No score: not enough data

Valuation Weak

3/100

Expensive against its sector on earnings and cash flow.

See the numbers →

EBIT / EV yield0.2%

Free-cash-flow yield0.3%

Fair value vs price0.7×

Growth Strong

76/100

Growing faster than most of its sector.

See the numbers →

Revenue growth (3y)19.1%

Growth consistency70%

Profitability Weak

28/100

Earns lower returns on its capital than most peers.

See the numbers →

Return on invested capital11.0%

Operating margin6.7%

Gross profitability15.5%

Financial health Weak

29/100

Balance sheet is more stretched than most peers.

See the numbers →

Piotroski F-Score4 / 9

Net debt / EBITDA1.5×

Interest cover3.4×

Dividends None

–/100

Pays no dividend.

See the numbers →

Quarterly results: last 6 quarters

+60.4%

Dec '24

+38.6%

Mar '25

+19.5%

Jun '25

+57.1%

Sep '25

+35.9%

Dec '25

+130.4%

Mar '26

Revenue against the same quarter a year earlier. Latest quarter revenue $751M, diluted EPS $0.23.

Compare with peers

VRT Vertiv Holdings Co58 EMR Emerson Electric Co49 AME Ametek Inc/48 ROK Rockwell Automation, I...47

Other Electrical Components & Equipment companies by X-Ray Score.

SWOT analysis: Bloom Energy Corp

Strengthsinside the company

Revenue has grown 19.1% a year over three years (median 9.8% for industry peers).

Weaknessesinside the company

Operating margin of 6.7% is thin against 18.9% for industry peers.

Opportunitiesvaluation and setting

Revenue growth picked up to 37.3% last year from 19.1% a year over three years.

Threatsvaluation and setting

Trades at 6,986.7x earnings, 18,514% above the 37.5x median of industry peers, so the price already assumes better results.
The price is 31% above our fair value estimate, so there is little room for disappointment.
Our checks raised: Heavy dilution; Heavy dilution.

Written by fixed rules from the figures on this page and the peer table below: filings, our fair value, the sector climate and the price trend. It summarises the data, it is not a forecast or advice.

Compare BE with peers and sector

Medians of 5 Electrical Components & Equipment peers and of 80 Industrials stocks in our universe. Largest peers (X-Ray Score): ETN 41, EMR 49, VRT 58, AME 48, ROK 47.

Metric	BE	Peers	Sector
X-Ray Score (out of 100)	32	48	51
Valuation	3	27	48
Growth	76	73	50
Profitability	28	49	51
Financial health	29	58	49
Dividends	–	46	53

Sector leaders: highest X-Ray Score in Industrials

BE ranks #75 of 81 in Industrials and #6 of 6 in Electrical Components & Equipment by X-Ray Score. A higher score is stronger on our five pillars; it is a ranking of facts, not a forecast.

Company	X-Ray Score
#1 GD General Dynamics Corp	70
#2 EME EMCOR Group, Inc.	69
#3 PAYX Paychex Inc	69
#4 LDOS Leidos Holdings, Inc.	67
#5 SNA Snap-on Inc	66
…
#75 BE Bloom Energy Corp (this stock)	32

Metric	BE	Peers	Sector
P/E ratio	6,986.7x	37.5x	28.5x
PEG ratio	–	–	2.36
Price / book	75.6x	7.1x	6.2x
Price / sales	28.4x	5.3x	3.5x
EV / EBITDA	426.0x	23.1x	18.3x
Price / free cash flow	303.3x	30.1x	25.3x
Dividend yield	–	1.2%	1.3%
Gap to our fair value	−31.3%	−12.8%	−8.5%

Metric	BE	Peers	Sector
Price change, 1 month	−21.2%	−2.7%	+2.5%
Price change, 3 months	−0.2%	−7.2%	−3.6%
Price change, 6 months	−5.2%	+3.9%	−1.2%
Price change, 1 year	+130.8%	+22.6%	+11.3%

Metric	BE	Peers	Sector
Market value	$69.6B	$76.8B	$47.5B
Revenue (last 12 months)	$2.4B	$11.5B	$15.1B
EBITDA (last 12 months)	$164M	$2.6B	$2.5B
Net income (last 12 months)	$10M	$1.7B	$1.5B
Free cash flow (last 12 months)	$230M	$2.9B	$1.7B

Metric	BE	Peers	Sector
Revenue growth, last year	+37.3%	+6.6%	+4.5%
Revenue growth, 3 years a year	+19.1%	+9.8%	+5.6%
EPS growth, 3 years a year	–	+8.5%	+5.7%
Free cash flow growth, 3 years a year	–	+22.5%	+14.5%
Dividend growth	–	+10.0%	+6.8%

Metric	BE	Peers	Sector
Gross margin	29.6%	38.0%	38.1%
EBITDA margin	6.7%	25.6%	20.4%
Operating margin	6.7%	18.9%	17.5%
Net margin	0.4%	13.8%	12.8%
Return on invested capital	11.0%	12.9%	15.0%
Return on equity	1.1%	18.9%	23.8%

Metric	BE	Peers	Sector
Net debt / EBITDA	1.5x	1.2x	1.8x
Interest cover	3.4x	21.1x	21.8x
Current ratio	5.0x	1.2x	1.2x
Piotroski F-score (0 to 9)	4	6	6

Green means better than the peer median, red worse (only where a higher or lower figure is clearly better). A dash means too few companies report the figure. P/E, EV/EBITDA and price changes are not graded: a different level is not good or bad by itself.

Factor ratings for BE

Each factor is rated by where BE stands among the 81 Industrials stocks in our universe.

Rating against the sector

Goodthe top third of these stocks

Averagethe middle third of these stocks

Badthe bottom third of these stocks

"Beats" is the share of those stocks it is ahead of.

Against its own history

The last columns set today's figure against the company's own median of its last five financial years:

▲ Betterbetter than its usual level

▼ Worseworse than its usual level

≈ In linewithin its usual range

For valuation factors Good means cheaper than most of the sector and Better means cheaper than usual for this company, which is not the same as a bargain.

In total: 5 Good · 2 Average · 14 Bad of 21 Growth: 2 · 0 · 0 Profitability: 0 · 0 · 5 Financial strength: 1 · 1 · 2 Valuation: 0 · 0 · 5 Cash flow: 2 · 0 · 1 Efficiency: 0 · 1 · 1

Factor	BE	Rating	Sector median	Own 5-year median	Against own history
Growth
Revenue growth, 3 years a year	+19.1%	Good beats 96%	+5.6%	–	–
Revenue growth, last year	+37.3%	Good beats 99%	+4.5%	+22.4%	▲ Better
Profitability
Gross margin	29.6%	Bad beats 22%	38.0%	20.3%	▲ Better
Operating margin	6.7%	Bad beats 12%	17.5%	-11.8%	▲ Better
Net margin	0.4%	Bad beats 2%	12.8%	-16.9%	▲ Better
Return on invested capital	11.0%	Bad beats 28%	14.9%	–	–
Return on equity	1.1%	Bad beats 3%	23.7%	-35.8%	▲ Better
Financial strength
Net debt / EBITDA	1.5x	Average beats 59%	1.8x	–	–
Interest cover	3.4x	Bad beats 4%	21.4x	-1.7x	▲ Better
Current ratio	5.03	Good beats 98%	1.25	3.21	▲ Better
Piotroski F-score	4 / 9	Bad beats 3%	6 / 9	–	–
Valuation
P/E ratio	6,986.7x	Bad beats 2%	28.9x	–	–
Price / book	75.6x	Bad beats 1%	6.2x	9.7x	▼ Worse
Price / sales	28.4x	Bad beats 1%	3.5x	3.4x	▼ Worse
EV / EBITDA	426.0x	Bad beats 1%	18.5x	–	–
Free cash flow yield	0.3%	Bad beats 5%	3.8%	-2.9%	▲ Better
Cash flow
Free cash flow margin	9.4%	Bad beats 28%	13.8%	-11.4%	▲ Better
Cash from operations / net income	29.93	Good beats 98%	1.39	–	–
Accruals (lower is better)	−6.2%	Good beats 84%	−3.2%	–	–
Efficiency
Inventory turnover	2.4x	Bad beats 6%	4.0x	2.3x	≈ In line
Days sales outstanding	54 days	Average beats 61%	57 days	76 days	▲ Better

These ratings compare companies with each other and describe the past; they are not a forecast, a recommendation or part of the X-Ray Score. A factor is left out when its data is missing or meaningless (for example a P/E on negative earnings). A dash in the history columns means fewer than three usable years.

Fundamentals checklist

● 3 Good · ● 2 Average · ● 9 Bad

Cash quality

Earnings backed by cashGood

Free-cash-flow yieldBad

Risk models

Altman Z''Bad

Piotroski F-ScoreBad

Growth

Revenue growth (3y)Good

Growth consistencyAverage

Balance sheet

Current ratioGood

Net debt / EBITDAAverage

Interest coverBad

Valuation

Fair value vs priceBad

EBIT / EV yieldBad

Profitability

Return on invested capitalBad

Operating marginBad

Gross profitabilityBad

Each check is graded against the company's sector, not a fixed number. Checklist score 36/100.

Financials

	FY21	FY22	FY23	FY24	FY25
Revenue	$972M	$1.2B	$1.3B	$1.5B	$2.0B
Operating income	−$115M	−$261M	−$209M	$23M	$73M
Net income	−$164M	−$302M	−$302M	−$27M	−$87M
Operating cash flow	−$61M	−$192M	−$373M	$92M	$114M
Operating margin	-11.8%	-21.8%	-15.7%	1.6%	3.6%
Free cash flow	−$110M	−$309M	−$456M	$33M	$57M
Diluted EPS	$-0.95	$-1.62	$-1.42	$-0.13	$-0.37

Fiscal years, from SEC filings.

Technical summary

Daily

Bearish

4 bullish · 1 neutral · 11 bearish

Weekly

Bullish

7 bullish · 1 neutral · 4 bearish

Monthly

Strongly bullish

6 bullish · 1 neutral · 1 bearish

Moving averages (daily)

SMA 10	240.8	Bearish
EMA 10	239.1	Bearish
SMA 20	262.1	Bearish
EMA 20	250.1	Bearish
SMA 50	249.2	Bearish
EMA 50	251.2	Bearish
SMA 100	249.4	Bearish
EMA 100	242.7	Bearish
SMA 200	218.9	Bearish
EMA 200	213.7	Bullish

Oscillators (daily)

RSI (14)	38.48	Neutral
MACD (12, 26)	-9.52	Bearish
Momentum (12)	-26.37	Bearish
Stochastic %K (14)	7.81	Bullish
Williams %R (14)	-92.19	Bullish
CCI (20)	-121.6	Bullish

Pivot points (classic, last session)

189.9

200.3

209.0

Pivot

219.5

228.2

238.6

247.4

Signals describe what the chart is doing, not what to do. Moving averages: price above the average is bullish. Oscillators use the usual thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20; MACD and momentum above zero are bullish). Weekly and monthly views use closing prices only.

ETFs that hold BE

ETF	Share of the fund
ICLN iShares Global Clean Energy	6.93%
AIPO Defiance AI & Power Infrastructure	4.75%
CGMM Capital Group U.S. Small and Mid Cap	2.56%
VTWO Vanguard Russell 2000	1.83%
VOT Vanguard Mid-Cap Growth	1.80%
JTEK JPMorgan U.S. Tech Leaders	1.72%
ARTY iShares Future AI & Tech	1.68%
SCHM Schwab U.S. Mid-Cap	1.36%

The eight funds with the largest weight in BE among the ETFs we cover, from each fund's latest SEC Form N-PORT (quarter-end positions, so they can be months old). All ETFs.