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Fluence Energy, Inc. key statistics and ratios

In fiscal 2025, Fluence Energy, Inc. had return on equity of -10.7% and a net margin of -2.1%. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

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

Fiscal year2020Sept 20202021Sept 20212022Sept 20222023Sept 20232024Sept 20242025Sept 2025LTMJun 2026
Net margin−8.3%−23.8%−8.7%−3.1%0.8%−2.1%−3.1%
Return on equity——−79.6%−16.6%5.2%−10.7%−20.1%
Return on assets—−22.6%−8.5%−4.5%1.4%−2.3%−3.3%
Effective tax rate————23.3%——
R&D as % of revenue2.1%3.4%5.0%3.0%2.5%3.8%3.2%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

2 of 5 checks passed · June 30, 2026
What it owns · $2.6bn
Short-term assets $2.3bnLonger-term assets $291m
What it owes, and who funded it · $2.6bn
Short-term liabilities $1.7bnLonger-term liabilities $450mShareholders' equity $373m
  • Short-term assets cover short-term liabilities $2.3bn of assets due within a year against $1.7bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities $2.3bn short-term assets against $450m of longer-dated liabilities.
  • More cash than debt $339m of cash against $392m of debt.
  • Debt below 40% of shareholders' equity Debt is 105% 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 −$101m of operating cash flow against $392m of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Fluence Energy, Inc.'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.

Moat

15 /100

Weak moat

How hard Fluence Energy's competitive advantage looks for rivals to wear away, judged from 5 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Net income has been a median -3.1% of total assets over 5 years.

  • Pricing power 0 / 20

    Gross margin has been a median 9.3%, moving by 9.9 percentage points (standard deviation) across 5 years.

  • Durability 10 / 20

    Net margin has been a median -3.1%; its worst year was -16.4%.

  • Cash conversion 2 / 20

    Free cash flow was positive in 1 of 5 years, at a median -16.9% 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.

Compare with peers

Head to head: FLNC vs RUNENS vs FLNCBE vs FLNC

More: Electrical Components & Equipment stocks compared, Industrials sector, rankings of US companies

Figures from Fluence Energy, Inc.'s SEC filings (10-K and 10-Q), retrieved October 26, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Fluence Energy, Inc.