Bloom Energy Corp BE
Bloom Energy is a global leader in onsite power generation, delivering a foundational platform purpose-built for the digital era and the global energy transition. We manufacture a versatile fuel cell energy platform, supporting the commercial availability of two main products: the Bloom Energy Server® fuel cell system for generating electricity and the Bloom Electrolyzer™ for producing hydrogen. Our primary product, the Bloom Energy Server is a proprietary high-temperature solid-oxide fuel cell technology that converts fuels—including natural gas, biogas, and hydrogen—into electricity at high-density without combustion or moving parts, achieving lower emissions and higher efficiency than legacy systems.
Last close
193.30
2026-10-23
Market cap
$54.98B
2026-03-31 share count
52-week range
75.70 - 351.28
Valuation FY2025 figures against the last close
P/S27.5x
P/E—
P/FCF961.4x
EV/EBITDA447.0x
Dividend yield0.0%
Diluted EPS-0.37
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.00B | $1.44B | $1.27B | $1.14B | $906.9M | $731.2M | $724.8M | $575.1M | $365.6M | $208.5M |
| Cost of revenue | $1.44B | $1.07B | $1.14B | $1.05B | $774.6M | $628.5M | $687.6M | $526.9M | $381.9M | $312.0M |
| Gross profit | $587.4M | $404.6M | $197.8M | $148.3M | $197.6M | $165.8M | $97.6M | $105.8M | -$16.3M | -$103.5M |
| R&D | $186.0M | $148.6M | $155.9M | $150.6M | $103.4M | $83.6M | $104.2M | $89.1M | $51.1M | $46.8M |
| SG&A | $198.4M | $165.1M | $160.9M | $167.7M | $122.2M | $107.1M | $152.7M | $118.8M | $55.7M | $61.5M |
| Total operating expenses | $514.6M | $381.7M | $406.7M | $409.3M | $312.1M | $246.6M | $330.4M | $270.8M | $138.8M | $137.5M |
| Operating income | $72.8M | $22.9M | -$208.9M | -$261.0M | -$114.5M | -$80.8M | -$232.8M | -$165.0M | -$155.1M | -$241.0M |
| Interest expense | $53.9M | $62.6M | $108.3M | $53.5M | $69.0M | $78.8M | $94.2M | $105.9M | $124.3M | $81.2M |
| Pre-tax income | -$84.4M | -$26.4M | -$306.0M | -$314.0M | -$192.3M | -$178.8M | -$322.8M | -$289.7M | -$294.4M | -$335.6M |
| Income tax | $2.7M | $846.0K | $1.9M | $1.1M | $1.0M | $256.0K | $633.0K | $1.5M | $636.0K | $729.0K |
| Net income | -$87.1M | -$27.2M | -$307.9M | -$315.1M | -$193.4M | -$179.1M | -$304.4M | -$273.5M | -$276.4M | -$279.7M |
| EPS, basic | -0.37 | -0.13 | -1.42 | -1.62 | -0.95 | -1.14 | -2.67 | — | — | — |
| EPS, diluted | -0.37 | -0.13 | -1.42 | -1.62 | -0.95 | -1.14 | -2.67 | -5.14 | -26.97 | -27.84 |
| Shares, diluted (wtd. avg.) | 240.4M | 227.4M | 212.7M | 185.9M | 173.4M | 138.7M | 115.1M | 53.3M | 10.2M | 10.0M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $2.45B | $802.9M | $745.2M | $518.4M | $615.1M | $416.7M | $377.4M | $280.5M | $180.6M | $217.9M |
| Short-term investments | — | — | — | — | — | — | $0 | $15.7M | $20.1M | — |
| Receivables | $371.8M | $335.8M | $340.7M | $251.0M | $87.8M | $96.2M | $37.8M | $40.4M | $62.0M | — |
| Inventory | $643.3M | $544.7M | $502.5M | $268.4M | $143.4M | $142.1M | $109.6M | $129.3M | $94.0M | — |
| Total current assets | $3.73B | $2.04B | $1.69B | $1.06B | $806.4M | $618.6M | $472.7M | $368.8M | $365.1M | — |
| Property, plant and equipment | — | — | — | — | — | $600.6M | $607.1M | $697.3M | $702.2M | — |
| Goodwill | — | — | — | — | $2.0M | $0 | — | — | — | — |
| Total assets | $4.40B | $2.66B | $2.41B | $1.95B | $1.73B | $1.45B | $1.32B | $1.21B | $1.21B | — |
| Accounts payable | $203.1M | $92.7M | $132.1M | $161.8M | $73.0M | $58.3M | $55.6M | $53.8M | $47.8M | — |
| Short-term debt | $4.2M | $114.4M | $0 | $26.0M | $25.8M | $120.8M | $337.6M | $29.8M | $20.1M | — |
| Total current liabilities | $623.8M | $636.8M | $470.4M | $541.9M | $342.5M | $436.4M | $574.0M | $220.9M | $221.0M | — |
| Long-term debt | $2.61B | $1.01B | $846.6M | $385.6M | $500.9M | $270.1M | $299.2M | $711.4M | $921.2M | — |
| Total liabilities | $3.60B | $2.07B | $1.89B | $1.57B | $1.52B | $1.31B | $1.49B | $1.81B | $1.75B | — |
| Retained earnings | -$3.99B | -$3.90B | -$3.87B | -$3.56B | -$3.26B | -$3.10B | -$2.95B | -$2.43B | -$2.37B | — |
| Total equity | $768.6M | $562.5M | $520.7M | $378.8M | -$1.8M | $141.0M | -$168.3M | -$2.26B | -$2.21B | — |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $113.9M | $92.0M | -$372.5M | -$191.7M | -$60.7M | -$98.8M | $163.8M | -$91.9M | -$92.0M | -$282.8M |
| Depreciation and amortisation | $50.6M | $53.0M | $62.6M | $61.6M | $53.5M | $52.3M | $78.6M | $53.9M | $54.4M | $43.1M |
| Capital expenditure | $56.8M | $58.9M | $83.7M | $116.8M | $49.8M | $37.9M | $51.1M | $45.2M | $61.5M | $9.0M |
| Investing cash flow | -$93.1M | -$58.8M | -$83.7M | -$116.8M | -$46.7M | -$37.9M | $53.4M | -$125.4M | -$88.2M | -$9.0M |
| Financing cash flow | $1.51B | $175.2M | $683.3M | $211.4M | $306.4M | $176.0M | -$120.3M | $317.2M | $142.9M | $283.4M |
| Dividends paid | $947.0K | $1.5M | $0 | $0 | — | — | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001628280-26-024237.
Plot the figures US dollars
Income statement
Revenue
Cost of revenue
Gross profit
R&D
SG&A
Total operating expenses
Operating income
Interest expense
Pre-tax income
Income tax
Net income
EPS, basic
EPS, diluted
Shares, diluted (wtd. avg.)
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $208.5M | $365.6M | $575.1M | $724.8M | $731.2M | $906.9M | $1.14B | $1.27B | $1.44B | $2.00B |
| Gross profit | -$103.5M | -$16.3M | $105.8M | $97.6M | $165.8M | $197.6M | $148.3M | $197.8M | $404.6M | $587.4M |
| Net income | -$279.7M | -$276.4M | -$273.5M | -$304.4M | -$179.1M | -$193.4M | -$315.1M | -$307.9M | -$27.2M | -$87.1M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Regulation FD disclosure Item 7.01
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Officer or director change Item 5.02
- Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Results announced Item 2.02
- Regulation FD disclosure Item 7.01
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Unregistered share sale Shares issued outside a registered offering. Dilution, and for a small company often the way it is funded. Item 3.02
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
Others in SIC 3620
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|---|---|---|---|---|
| WWD | Woodward, Inc. | $17.92B | 42.2x | 7.3% |
| PLUG | PLUG POWER INC | $1.93B | — | 12.9% |
| FCEL | FUELCELL ENERGY INC | $888.3M | — | 41.0% |
| EAF | GRAFTECH INTERNATIONAL LTD | $222.0M | — | -6.4% |
| NPWR | Net Power Inc. | $80.4M | — | -100.0% |
| BLDP | Ballard Power Systems Inc. | — | — | — |
| FPS | Forgent Power Solutions, Inc. | — | — | — |