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Bloom Energy (BE) stock

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NYSE: BE NYSE Electrical Components & Equipment Next results ~February 4, 2027

B+ Fundamentals grade

Bloom Energy is a US-listed company in the electrical components & equipment industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$65

Valuation models combined (3)

Base case. Range ~$56–$93. Weighted average of 3 models (growth cash-flow model, forward price-to-earnings vs peers, revenue-to-maturity model), the growth cash-flow model counting double.

Price vs value

No Buy/Hold/Sell rating is issued: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

Bloom Energy valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

Value diary

Our note on each quarter Bloom Energy files

10-Q filed October 22: Bloom Energy

Revenue for the twelve months to September 2026 reached $3.83bn, up 110.6% on a year earlier. That marks an acceleration from the 91.0% growth recorded a quarter earlier. Profitability improved alongside the top line, with the operating margin widening to 14.8% from 4.9%. Free cash flow followed, its margin rising to 11.4% from 7.4% a year earlier. Set against this, the diluted share count is up 32.9% on a year earlier, which dilutes existing holders. Our model value is little changed at $82.86 a share. The current share price stands at $218, well above that figure.

Source: 10-Q filed October 22, 2026 on SEC EDGAR · Financials · Valuation

Earlier notes (1)

Where Bloom Energy stands after its latest 10-Q/A

Revenue for the twelve months to June 2026 was $3.11bn, up 91.0% on a year earlier, faster than 56.5% a quarter earlier. Free-cash-flow margin rose to 20.1% from 2.7% a year earlier. Operating margin widened to 11.2% from 4.4%. The diluted share count is up 24.2% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades D. It passes 5 of our 6 financial-health checks. Our revenue-to-maturity cash-flow model value is $83.96 a share, against a share price of $224.

10-Q/A on SEC EDGAR

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~February 4, 2027 (estimated)

Bloom Energy's trailing-twelve-month revenue grew 110.6% year on year, with a free-cash-flow margin of 11.4%. Where it stands out: revenue growth of 110.6% ranks 5 of 57 electrical components & equipment companies we cover. Where it lags: long-term debt as % of assets of 37.6% ranks 36 of 40 electrical components & equipment companies we cover.

Current signal Revenue growth accelerating: TTM revenue growth rose to 110.6% (+19.6pp vs the prior quarter).

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 110.6% over the last 12 months, against a median of 10.6% for electrical components & equipment companies we cover.
  • Growth speeding up. The growth rate is 19.6 points higher than a quarter earlier.
  • Margins widening. Operating margin is up 9.9 points on a year ago.
  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.
  • Estimates rising. Analysts' consensus for next year's earnings per share has risen 11.7% over 90 days.

Things to watch

  • Share dilution. Diluted shares rose 32.9% in a year.
  • High earnings multiple. The shares trade at 116 times the last 12 months' earnings, so expectations are demanding.
  • Volatile shares. Over the past year the shares showed annualised volatility of 111% and a beta of 4.5 against the S&P 500.
  • Insiders selling. 11 insiders sold $165M of stock over the past 365 days and none bought (59% under pre-set trading plans).
  • Below peers: long-term debt as % of assets. Long-term debt as % of assets of 37.6% ranks 36 of 40 electrical components & equipment companies we cover (median 17.8%).

Latest results: FY2026 Q3

Filed October 22, 2026
Earnings per share
$0.94 against an average estimate of $0.68: beat by 39.2%
Revenue
$1.24bn, up 138.1% on a year earlier
Share reaction
-19.0% in the first session after the results on October 22, 2026, against -1.7% for the S&P 500
Guidance given
revenue $4.4bn to $4.6bn (full year 2026); non-GAAP Gross Margin 34% (full year 2026)
Next report
October 22, 2026; average EPS estimate $1.11

Bloom Energy's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-3.4%
  • 1 week-3.8%
  • 1 month-32.1%
  • This year+125.9%
  • 1 year+48.5%
  • 5 years+513.9%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$3.8B
Operating margin
14.8%
Net margin
13.6%
EPS (TTM, diluted)
$1.69

Growth

Revenue growth
+110.6%
Change in growth rate
+19.6 pts
Share count change
+32.9%

Cash

Free cash flow (TTM)
$437M
FCF margin
11.4%

Earnings

Last results
October 22, 2026
Next results (est.)
February 4, 2027

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Our research
  2. Results
  3. Guidance
  4. Announcement
  5. Announcement
  6. Results
  7. Insider trade
  8. Announcement
  9. Announcement
  10. Announcement
  11. Announcement
  12. Leadership
  13. Announcement
  14. Insider trade
  15. Insider trade
  16. Insider trade
  17. Insider trade
  18. Results
  19. Announcement

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Bloom Energy valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

Valuation models

We value Bloom Energy as an operating company, with every model that fits that kind of business. Cost of equity 13.5%: the 10-year Treasury yield (4.9%) plus a beta of 1.89 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$56 ~$33–$76 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$93 ~$75–$130 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: the model gives no positive value
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Forward price-to-sales vs peers Next year's consensus sales per share times peers' typical forward price-to-sales; only when earnings are negative. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$29 ~$26–$91 Left out: out of range vs price (0.15x)
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. ~$56 ~$47–$68 Included
Combined value Weighted average of the models that apply: the primary model (growth cash-flow model) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$65 ~$56–$93 3 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Bloom Energy with Electrical Components & Equipment in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 20182019202020212022202320242025Now
Share price$9.98$7.47$28.66$21.93$19.12$14.80$22.21$86.89$196.25
Market value$532m$860m$4.0bn$3.8bn$3.6bn$3.1bn$5.0bn$20.9bn$60.4bn
+ Net debt (− = net cash)−$221m−$203m$280m$144m$71m$203m$440m$225m$39m
Enterprise value$311m$657m$4.3bn$3.9bn$3.6bn$3.4bn$5.5bn$21.1bn$60.4bn
Multiples
Price / sales 0.8x1.1x5.0x3.9x3.0x2.4x3.4x10.3x15.8x
Price / earnings ————————116.3x
Price / free cash flow —7.6x————152.3xn/m138.3x
EV / EBITDA ——————72.3x171.1x97.3x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

18 /100

Weak moat

How hard Bloom Energy's competitive advantage looks for rivals to wear away, judged from 9 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Cash operating profit has been a median -7.0% of total assets over 8 years.

  • Pricing power 3 / 20

    Gross margin has been a median 18.5%, moving by 7.3 percentage points (standard deviation) across 9 years.

  • Durability 10 / 20

    Operating margin has been a median -15.7%; its worst year was -38.9%.

  • Cash conversion 3 / 20

    Free cash flow was positive in 3 of 9 years, at a median -19.2% of revenue.

  • Discipline 2 / 20

    The diluted share count rose 80.0% over five years; stock-based pay has been a median 8.8% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $3.26 +330% $4.5bn +124%
Next $5.31 +63% $7.1bn +56%

Next year's EPS estimate has moved +11.7% in 90 days, across 27 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +18.1% on 90 days ago. In the last 30 days, 1 analyst raised Bloom Energy's forecast and 1 cut it.

Consensus EPS forecast Bloom Energy, last 90 days
$2.00 $3.00 $4.00 $5.00 $6.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $2.76 Current fiscal year, 60 days ago: $2.71 Current fiscal year, 30 days ago: $2.69 Current fiscal year, 7 days ago: $2.71 Current fiscal year, Now: $3.26 $3.26 Next fiscal year, 90 days ago: $4.75 Next fiscal year, 60 days ago: $4.92 Next fiscal year, 30 days ago: $4.95 Next fiscal year, 7 days ago: $4.94 Next fiscal year, Now: $5.31 $5.31

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $2.76$4.75
60 days ago $2.71$4.92
30 days ago $2.69$4.95
7 days ago $2.71$4.94
Now $3.26$5.31

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2026 $0.68 $0.94 +39.2%
Jun 2026 $0.41 $0.78 +91.8%
Mar 2026 $0.13 $0.44 +242.4%
Dec 2025 $0.30 $0.45 +50.4%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, October 22, 2026
  • Revenue full year 2026 $4.4bn to $4.6bn Raised
    “Raises full year 2026 revenue guidance to $4.4 billion - $4.6 billion, representing 122% year-over-year growth at the midpoint” source
  • Non-GAAP EPS full year 2026 $3.10 to $3.40 Non-GAAP Raised
    “Non-GAAP EPS: $3.10 - $3.40” source
  • Non-GAAP Gross Margin full year 2026 about 34% Non-GAAP Raised
    “Non-GAAP Gross Margin: ~34%” source
  • Non-GAAP Operating Income full year 2026 $960m to $1,030m Non-GAAP Raised
    “Non-GAAP Operating Income: $960M - $1,030M” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

Analyst recommendations

29 analysts, Oct 2026
Buy1552%
Hold1241%
Sell27%

Monthly trend

  1. Oct 20265101229
  2. Sep 20265101229
  3. Aug 20265101229
  4. Jul 20265101229

Counts of recommendations published by analysts covering Bloom Energy, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
6.6%
of tradable shares
Days to cover
1.05
at average volume
Short interest, 1 month
−9%
to October 15, 2026
Held by institutions
86%
of shares
Held by insiders
5.5%
of shares
Employees
2,214
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +48.5%

$132.16 on October 31, 2025 to $196.25

ThenNowEffect
Revenue (last 12 months) $1.6bn $3.1bn +91.0%
Net margin 1.5% 7.9% +435.2%
P/E multiple n/m n/m −82.0%
Share count 230m 285m −19.5%

Biggest factor: p/e multiple.

Last 3 years +1717.1%

$10.80 on November 3, 2023 to $196.25

ThenNowEffect
Revenue (last 12 months) $1.3bn $3.1bn +133.9%
P/S multiple 1.6x 18.0x +1004.4%
Share count 201m 285m −29.6%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
BE−24%−13%−23%+50%+291%+126%
Industry peers (median)−4%−34%−16%−8%+11%−36%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
BE25%42%42%33%67%64%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
BE−60%−54%−62%−47%−46%−53%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since July 25, 2018: 93% from September 26, 2018 to October 24, 2019. Getting back needed a 1241% gain, reached on January 13, 2021, 447 days after the low.

Price behaviour

52-week range
$76.97 – $345.85
From 52-week high
−43.3%
vs 50-day average
−20.9%
vs 200-day average
−11.4%
Volatility (1 year)
111%
Beta vs S&P 500
4.48

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
5 up, 7 down
typical move ±12.8%
After a week
6 up, 6 down
typical move ±14.2%
After a month
6 up, 5 down
typical move ±26.7%
Results releasedNext dayS&P 500 next day5 days21 days
October 22, 2026 −19.0% −1.7% −6.8% —
July 28, 2026 −13.0% −1.3% +21.2% +16.0%
April 28, 2026 +22.7% −0.5% +25.8% +23.6%
February 5, 2026 −2.9% +0.6% −5.6% +2.7%
October 28, 2025 +23.2% +0.3% +18.9% −6.8%
July 31, 2025 −2.4% −2.0% −2.2% +40.7%
April 30, 2025 −11.1% +0.7% −12.6% −2.3%
February 27, 2025 +2.6% −0.1% −4.3% −13.1%
November 7, 2024 +20.1% +1.2% +21.1% +142.3%
August 8, 2024 +16.1% +2.8% +21.0% −1.5%
May 9, 2024 −5.4% +0.7% +3.6% +28.2%
February 15, 2024 −15.6% +0.2% −26.7% −16.5%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Bloom Energy in five measures

Fundamentals grade B+
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Bloom Energy
$0 $1B $2B $3B $4B FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue (TTM), FY23 Q4: $1.3B Revenue (TTM), FY24 Q1: $1.3B Revenue (TTM), FY24 Q2: $1.3B Revenue (TTM), FY24 Q3: $1.3B Revenue (TTM), FY24 Q4: $1.5B Revenue (TTM), FY25 Q1: $1.6B Revenue (TTM), FY25 Q2: $1.6B Revenue (TTM), FY25 Q3: $1.8B Revenue (TTM), FY25 Q4: $2B Revenue (TTM), FY26 Q1: $2.4B Revenue (TTM), FY26 Q2: $3.1B Revenue (TTM), FY26 Q3: $3.8B $3.8B

Source: SEC EDGAR filings. Retrieved October 23, 2026.

View chart data
Period Revenue (TTM)
FY23 Q4 $1.3B
FY24 Q1 $1.3B
FY24 Q2 $1.3B
FY24 Q3 $1.3B
FY24 Q4 $1.5B
FY25 Q1 $1.6B
FY25 Q2 $1.6B
FY25 Q3 $1.8B
FY25 Q4 $2B
FY26 Q1 $2.4B
FY26 Q2 $3.1B
FY26 Q3 $3.8B
Revenue growth, TTM YoY Bloom Energy
-50% 0% 50% 100% 150% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue growth, TTM YoY, FY23 Q4: 11.2% Revenue growth, TTM YoY, FY24 Q1: 1.6% Revenue growth, TTM YoY, FY24 Q2: -0.2% Revenue growth, TTM YoY, FY24 Q3: -12.6% Revenue growth, TTM YoY, FY24 Q4: 10.5% Revenue growth, TTM YoY, FY25 Q1: 20.9% Revenue growth, TTM YoY, FY25 Q2: 22.7% Revenue growth, TTM YoY, FY25 Q3: 44.5% Revenue growth, TTM YoY, FY25 Q4: 37.3% Revenue growth, TTM YoY, FY26 Q1: 56.5% Revenue growth, TTM YoY, FY26 Q2: 91.0% Revenue growth, TTM YoY, FY26 Q3: 110.6% 110.6%

Source: SEC EDGAR filings. Retrieved October 23, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q4 11.2%
FY24 Q1 1.6%
FY24 Q2 -0.2%
FY24 Q3 -12.6%
FY24 Q4 10.5%
FY25 Q1 20.9%
FY25 Q2 22.7%
FY25 Q3 44.5%
FY25 Q4 37.3%
FY26 Q1 56.5%
FY26 Q2 91.0%
FY26 Q3 110.6%
Operating margin (TTM) Bloom Energy
-20% -10% 0% 10% 20% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Operating margin (TTM), FY23 Q4: -15.7% Operating margin (TTM), FY24 Q1: -15.0% Operating margin (TTM), FY24 Q2: -12.3% Operating margin (TTM), FY24 Q3: -5.5% Operating margin (TTM), FY24 Q4: 1.6% Operating margin (TTM), FY25 Q1: 3.4% Operating margin (TTM), FY25 Q2: 4.4% Operating margin (TTM), FY25 Q3: 4.9% Operating margin (TTM), FY25 Q4: 3.6% Operating margin (TTM), FY26 Q1: 6.7% Operating margin (TTM), FY26 Q2: 11.2% Operating margin (TTM), FY26 Q3: 14.8% 14.8%

Source: SEC EDGAR filings. Retrieved October 23, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q4 -15.7%
FY24 Q1 -15.0%
FY24 Q2 -12.3%
FY24 Q3 -5.5%
FY24 Q4 1.6%
FY25 Q1 3.4%
FY25 Q2 4.4%
FY25 Q3 4.9%
FY25 Q4 3.6%
FY26 Q1 6.7%
FY26 Q2 11.2%
FY26 Q3 14.8%
FCF margin (TTM) Bloom Energy
-40% -20% 0% 20% 40% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 FCF margin (TTM), FY23 Q4: -34.2% FCF margin (TTM), FY24 Q1: -21.9% FCF margin (TTM), FY24 Q2: -30.5% FCF margin (TTM), FY24 Q3: -26.6% FCF margin (TTM), FY24 Q4: 2.2% FCF margin (TTM), FY25 Q1: 4.9% FCF margin (TTM), FY25 Q2: 2.7% FCF margin (TTM), FY25 Q3: 7.4% FCF margin (TTM), FY25 Q4: 2.8% FCF margin (TTM), FY26 Q1: 9.4% FCF margin (TTM), FY26 Q2: 20.1% FCF margin (TTM), FY26 Q3: 11.4% 11.4%

Source: SEC EDGAR filings. Retrieved October 23, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q4 -34.2%
FY24 Q1 -21.9%
FY24 Q2 -30.5%
FY24 Q3 -26.6%
FY24 Q4 2.2%
FY25 Q1 4.9%
FY25 Q2 2.7%
FY25 Q3 7.4%
FY25 Q4 2.8%
FY26 Q1 9.4%
FY26 Q2 20.1%
FY26 Q3 11.4%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q, 10-Q/A. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Sept 2026
Income
Revenue 209 366 633 785 794 972 1,199 1,333 1,474 2,024 3,830
Gross profit −103 −16 106 98 166 198 148 198 405 587 1,238
EBITDA −198 −101 −111 −154 −29 −61 −199 −146 76 123 621
Operating income −241 −155 −165 −233 −81 −115 −261 −209 23 73 567
Net income −280 −276 −274 −304 −158 −164 −302 −302 −27 −87 520
Diluted EPS −$5.57 −$5.39 −$5.14 −$2.67 −$1.14 −$0.95 −$1.62 −$1.42 −$0.13 −$0.37 $1.69
Growth (year on year)
Revenue — +75.3% +73.0% +24.1% +1.2% +22.4% +23.3% +11.2% +10.5% +37.3% +110.6%
EBITDA — — — — — — — — — +62.4% +340.0%
Operating income — — — — — — — — — — +530.6%
Margins
Gross margin −49.6% −4.5% 16.7% 12.4% 20.9% 20.3% 12.4% 14.8% 27.5% 29.0% 32.3%
EBITDA margin −94.9% −27.5% −17.6% −19.6% −3.6% −6.3% −16.6% −11.0% 5.2% 6.1% 16.2%
Operating margin −115.6% −42.4% −26.1% −29.6% −10.2% −11.8% −21.8% −15.7% 1.6% 3.6% 14.8%
Net margin −134.1% −75.6% −43.2% −38.8% −19.8% −16.9% −25.2% −22.7% −1.8% −4.3% 13.6%
Free-cash-flow margin −139.9% −42.0% −21.7% 14.4% −17.2% −11.4% −25.7% −34.2% 2.2% 2.8% 11.4%
Cash flow
Cash from operations −283 −92 −92 164 −99 −61 −192 −373 92 114 691
Capital spending 9 61 45 51 38 50 117 84 59 57 254
Free cash flow −292 −153 −137 113 −137 −110 −309 −456 33 57 437
Stock-based pay 28 31 180 — 69 73 113 — — — —
Free cash flow after stock pay −320 −184 −317 — −206 −184 −421 — — — —
Balance sheet
Cash 218 104 221 203 247 396 348 665 803 2,454 2,487
Total debt 0 1,008 — — 527 540 419 867 1,243 2,679 2,526
Net debt (negative = net cash) −218 904 −221 −203 280 144 71 203 440 225 39
Diluted shares 50m 51m 53m 115m 139m 173m 186m 213m 227m 240m 308m
Returned to shareholders
Dividends — — — — — — 0 0 1 1 —
Total returned — — — — — — 0 0 1 1 —

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

5 of 6 checks passed · September 30, 2026
What it owns · $6.6bn
Short-term assets $5.2bnLonger-term assets $1.4bn
What it owes, and who funded it · $6.5bn
Short-term liabilities $1.4bnLonger-term liabilities $3.2bnShareholders' equity $1.9bn
  • Short-term assets cover short-term liabilities $5.2bn of assets due within a year against $1.4bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities $5.2bn short-term assets against $3.2bn of longer-dated liabilities.
  • More cash than debt $2.5bn of cash against $2.5bn of debt.
  • Debt below 40% of shareholders' equity Debt is 128% of equity.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt $691m of operating cash flow against $2.5bn of debt.
  • Operating profit covers interest at least five times over Operating income of $567m against $36m of interest.

From Bloom Energy's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Diluted share count
+32.9%
year over year
R&D spending
6.2%
of revenue
Days sales outstanding
60 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in electrical components & equipment
Last 12 months unless stated BE ST ENS RUN AYI NVT Median
Revenue, last 12 months $3.8bn $3.8bn $3.8bn $3.5bn $4.6bn $5.3bn $154m
Revenue growth, last 12 months 110.6% 4.1% 3.7% 63.2% 6.8% 48.0% 10.6%
Revenue growth, 3-year average 38.6% −1.9% 0.7% 12.8% 5.5% 30.4% 9.2%
Revenue growth, latest quarter 138.1% 7.7% 4.8% 52.8% 2.9% 43.7% 10.2%
Gross margin 32.3% 30.8% 30.5% 55.4% 50.6% 36.6% 29.3%
Operating margin 14.8% 15.1% 13.0% 2.7% 15.4% 17.8% −17.7%
Operating margin, 3-year average 4.8% 5.9% 11.8% −85.7% 14.3% 17.2% −32.6%
Net margin 13.6% 9.5% 9.3% 11.6% 11.4% 12.8% −23.4%
Cash from operations / revenue 18.0% 19.7% 20.5% −5.8% 17.8% 14.6% −6.5%
Free-cash-flow margin 11.4% 16.7% 18.9% −7.0% 16.1% 12.1% −11.0%
Free-cash-flow margin, 3-year average −2.6% 12.4% 10.2% −25.7% 14.3% 14.5% −6.8%
Stock pay / revenue 9.1% 0.8% 0.7% 3.0% 1.1% 0.7% 2.5%
Change in share count 32.9% −0.6% −5.7% 16.3% −1.5% −0.9% 10.0%

Median of all 57 companies we cover in electrical components & equipment. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

57 electrical components & equipment companies
Measure Company Peer median Rank
Revenue growth Growth 110.6% 10.6% 5 of 57
Change in growth rate Growth +19.6pp +0.0pp 7 of 57
Gross margin Profitability 32.3% 29.3% 17 of 54
Operating margin Profitability 14.8% -20.0% 10 of 53
Net margin Profitability 13.6% -23.4% 8 of 57
Free-cash-flow margin Cash generation 11.4% -8.8% 12 of 56
Long-term debt as % of assets Balance sheet 37.6% 17.8% 36 of 40
Change in share count Balance sheet 32.9% 10.0% 38 of 46
Days sales outstanding Balance sheet 60 days 72 days 20 of 50

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue Share YoY
Products $1.5B 75.7% ▲ 41.1%
Services $228M 11.3% ▲ 6.9%
Installation $204M 10.1% ▲ 66.8%
Electricity $60.4M 3.0% ▲ 14.2%

From Bloom Energy's 10-K filed February 9, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$69.5B
Institutions reporting
1,273
Shares held vs prior quarter
▼ 4.2%
Positions opened / closed
370 / 79

Top buyers and sellers, Q2 2026: 778 institutions bought and 465 sold ; the biggest buyer was Jpmorgan Chase & Co (+6.4M shares) and the biggest seller Blackrock, Inc (−6.6M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $5.6B 18.4M 8.0% ▼ 26.4%
Ameriprise Financial Inc $5.5B 18.1M 7.9% ▼ 20.8%
Goldman Sachs Group Inc $4.2B 14.0M 6.1% ▲ 53.0%
Vanguard Portfolio Management LLC $3.8B 12.5M 5.5% ▼ 2.2%
Vanguard Capital Management LLC $3.7B 12.1M 5.3% ▲ 2.4%
Jpmorgan Chase & Co $2.2B 8.1M 3.2% ▲ 369.9%
Morgan Stanley $2.2B 7.3M 3.2% ▼ 4.3%
State Street Corp $1.9B 6.3M 2.8% ▼ 2.4%
Situational Awareness LP $1.9B 6.3M 2.7% ▼ 3.3%
Value Aligned Research Advisors, LLC $1.7B 5.6M 2.4% ▲ 21.8%
Graticule Asia Macro Advisors LLC $1.3B 4.2M 1.8% ▼ 7.4%
Jane Street Group, LLC $1.3B 4.2M 1.8% ▼ 15.3%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Bloom Energy's complete shareholder register. Values are as reported by the filers ; 7 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $165M 56 trades by 11 insiders · 59% under pre-set plans
Net ▼ $165M net selling
Insider Date Trade Shares Price Value
Joshi Aman Chief Commercial Officer October 1, 2026 Sell pre-set plan 8,437 $277.17 $2.3M
Chitoori Satish Chief Operations Officer September 16, 2026 Sell pre-set plan 2,870 $270.06 $775,072
Soderberg Shawn Marie See Remarks September 16, 2026 Sell pre-set plan 2,870 $270.07 $775,101
Kurzymski Maciej Chief Accounting Officer September 16, 2026 Sell 2,295 $268.42 $616,024
Joshi Aman Chief Commercial Officer September 16, 2026 Sell pre-set plan 3,601 $269.94 $972,054
Immelt Jeffrey R Director August 17, 2026 Sell pre-set plan 30,000 $238.91 $7.2M
Soderberg Shawn Marie See Remarks August 14, 2026 Sell 2,895 $233.60 $676,272
Chitoori Satish Chief Operations Officer August 14, 2026 Sell pre-set plan 2,053 $241.64 $496,087
Joshi Aman Chief Commercial Officer August 14, 2026 Sell pre-set plan 4,677 $241.75 $1.1M
Chambers John T Director August 13, 2026 Sell pre-set plan 15,000 $250.00 $3.8M
Chambers John T Director August 3, 2026 Sell pre-set plan 15,000 $205.58 $3.1M
Joshi Aman Chief Commercial Officer July 1, 2026 Sell pre-set plan 8,343 $300.37 $2.5M

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 19 trades and filings

In the last 12 months, 2 members of Congress disclosed 6 purchases and 1 sale of Bloom Energy shares.

  • Nancy Pelosi(D-CA 11):Purchase, $500,001 - $1,000,000, traded July 28, 2026, filed August 21, 2026
  • Nancy Pelosi(D-CA 11):Purchase (option), $500,001 - $1,000,000, traded July 28, 2026, filed August 21, 2026
  • Nancy Pelosi(D-CA 11):Purchase, $1,000,001 - $5,000,000, traded July 24, 2026, filed August 21, 2026

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around February 4, 2027 estimated from the company's past filing pattern, not announced

  • October 22, 2026
  • July 28, 2026
  • April 28, 2026
  • February 5, 2026
  • October 28, 2025
  • July 31, 2025

Recent SEC filings

Data status

When each part of this page on Bloom Energy was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Bloom Energy in brief

What does Bloom Energy do?
Bloom Energy is a US-listed company in the electrical components & equipment industry. Its financial year ends in December.
What is Bloom Energy's stock ticker?
Bloom Energy trades under the ticker BE on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Bloom Energy's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Bloom Energy reported revenue of $3.8B, 110.6% higher than a year earlier, according to its SEC filings.
What is Bloom Energy's free cash flow?
Bloom Energy's free-cash-flow margin is 11.4% of revenue over the trailing twelve months, ranking 12 of the 56 electrical components & equipment companies we cover.
Who are Bloom Energy's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Ameriprise Financial Inc and Goldman Sachs Group Inc. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Bloom Energy's market cap?
On November 2, 2026, Bloom Energy's market capitalisation was about $60.4B, with a price-to-earnings ratio of 116.3 and net debt of $39M. Market figures come from third-party market data and may be delayed.
How much debt does Bloom Energy have?
Bloom Energy's debt-to-equity ratio is 128.1%, from its latest balance sheet. The financial health section below sets out its other solvency checks.
Who are Bloom Energy's competitors?
In our Electrical Components & Equipment peer group, the companies closest to Bloom Energy are Sensata Technologies Holding plc, Enersys, Sunrun Inc., Acuity Inc. (de) and nVent Electric plc. The side-by-side comparison below sets their revenue, margins and growth against Bloom Energy's.
Are insiders buying or selling Bloom Energy stock?
Over the last 12 months, Bloom Energy's directors and officers reported 0 open-market purchases and 56 sales on Form 4. The insider trading page charts every trade.
When is Bloom Energy's next earnings date?
Around February 4, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Bloom Energy announces its own schedule.