BE

Bloom Energy Corp

Technology • CIK: 0001664703

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Market Cap
$34.29B
P/E (TTM)
3441.3x
Rev Growth (TTM)
+56.5%
Net Margin (TTM)
0.4%
FCF Yield (TTM)
0.7%
FCF Margin (TTM)
9.4%

LATEST EARNINGS

Q1 2026
20 days ago
View source
Revenue
$751.05K
Net Income
$3.04K
EPS
$0.23
Gross
30.0% +2.8%
Operating
9.6% +15.4%
Net
9.4% +16.7%
  • Revenue increased by 130.4% year-over-year to $751.1 million, significantly exceeding the prior year's Q1 performance.
  • Product revenue saw a substantial increase of 208.4% year-over-year, highlighting strong demand for Bloom Energy's core offerings.
  • Gross margin improved to 30.0% (GAAP) and 31.5% (Non-GAAP), up 2.8 percentage points year-over-year, indicating better cost management and pricing power.
  • Service gross margin significantly improved to 13.3% (GAAP) and 18.0% (Non-GAAP), a substantial increase from 1.3% and 4.8% respectively in Q1 2025.

Cash Flow Health

Free Cash Flow4/8 positive
TTM$230M
Q1 '26
$47M-88%
Q4 '25
$395M+5262%
FCF Margin
TTM9.4%
Q1 '266.3%-88%
Sector: 8.5%Above Avg
OCF Margin12.2%
OCF/NI29.92x
CapEx Coverage4.3x
FCF Yield0.7%
FCF Growth (2Y)
Cash Conversion Cycle
12404 days
DSO: 60+DIO: 16713DPO: 4369

Capital Allocation & Returns

Accumulating Cash
Total Shareholder YieldEst.
Est.0.0%
Div Yield0.0%
+
Est. Buyback0.4%

Limited capital returns

Dividend & Payout Metrics
Dividend Yield (TTM)0.0%
FCF Payout Ratio0.4%
Free Cash Flow (TTM)$229.5M
Capital Return / FCF0.4%
Est. Dividends Paid (TTM)$994.0K
Estimated: Buyback data estimated from FCF. Actual repurchase data not available for this company.
Shows how management rewards shareholders

Operational Efficiency & Returns

Return on Invested CapitalTTM
5.4%
Moderate
+0.0% YoY+7.7%
P25MedianP75
75th pctl (med: 0.0%)
DuPont BreakdownROIC = Margin × Turn × (1+D/E)
NOPAT Margin
5.3%
8Q: 0.3%
Asset Turnover
0.74x
8Q: 0.64x
Leverage (1+D/E)
3.83x
D/E: 2.83x
DuPont: 15.0%5.4% ROIC
Asset & CapEx Efficiency
Fixed Asset Turn
1586.16x
8Q:1078.51x
+155308.4%
Invested Cap Turn
1.09x
8Q:0.96x
+11.3%
CapEx Intensity
3.1%
8Q:3.2%
CapEx/Depreciation
1.32x
Asset-based ROIC formula

QUARTERLY TRENDS

Last 8 quarters + TTM

MetricTTMQ1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024
Revenue
$2.4B
$751.1M3.4%
$777.7M49.8%
$519.0M29.4%
$401.2M23.1%
$326.0M43.0%
$572.4M73.2%
$330.4M1.6%
$335.8M
Operating Income
$164.1M
$72.2M17.5%
$87.5M1015.6%
$7.8M324.0%
$-3.5M81.6%
$-19.1M118.2%
$104.7M1184.9%
$-9.7M58.3%
$-23.1M
Net Income
$6.9M
$70.7M4854.6%
$1.4M106.2%
$-23.0M45.6%
$-42.2M77.2%
$-23.8M122.6%
$105.2M818.7%
$-14.6M76.1%
$-61.2M
Operating Cash Flow
$298.2M
$73.6M82.4%
$418.0M2025.3%
$19.7M109.2%
$-213.1M92.5%
$-110.7M122.9%
$484.2M797.0%
$-69.5M60.4%
$-175.5M
Free Cash Flow
$229.5M
$47.4M88.0%
$395.1M5262.0%
$7.4M103.3%
$-220.4M76.4%
$-124.9M126.4%
$473.1M664.8%
$-83.8M55.3%
$-187.5M
Total Equity
N/A

Valuation Analysis

Fair Value
Price-to-EarningsTTM
3441.3x
Volatile
8Q: -0.5x+702852%
High PEG ratio (10.0x) suggests expensive for growth
Valuation Lenses
Earnings
3441.3x
vs sector
Cash Flow
151.0x
EV/FCF vs
Growth-Adj
10.0xPEG
Expensive for growth
Quality-Adj
636.1P/E per %ROIC
ROIC: 5.4%
Shareholder Returns
Dividend
0.0%
Buyback
Total Yield
0.0%
Market Cap$34.29B
EV$34.65B
Multi-angle valuation analysis with sector context

Business Quality & Moat

Overall Quality Score
52/100
Average

Composite score: Returns (40%) + Consistency (30%) + Earnings Quality (30%)

Returns on Capital

Return on Equity (ROE)Below Avg
1.4%
8Q:
Return on Invested Capital (ROIC)Top 25%
5.4%
8Q:
+7.7%
vs Sector:0.0%

DuPont Analysis (ROIC = NOPAT Margin × Asset Turnover)

NOPAT Margin: 5.3%
Asset Turnover: 0.74x

Earnings Quality

Cash Conversion

29.92x

OCF / Net Income

FCF Consistency

Positive quarters

Competitive Moat Indicators

Pricing Power

Gross Margin29.6%

Capital Efficiency

Invested Capital Turnover1.09x

Working Capital

Cash Conversion Cycle12404 days

Growth Quality & Momentum

Moderate Growth
Growth Quality Score
70/100
Growth 40%
Margins 30%
FCF 20%
Consistency 10%

Growth Rates

Revenue Growth YoY
56.5%
OpInc Growth YoY
478.6%
EPS Growth YoY
46.4%
FCF 3Y CAGR
N/A

Margin Quality & Sustainability

Low Quality
Profitability Cascade
Gross
29.6%
Operating
6.7%
Above Avg in sector
Net
0.4%
Margins Unknown
Earnings Quality Signals
SBC / Revenue
FCF vs Net Gap
+9.0 pts
FCF: 9.4% | Net: 0.4%

Quality = stability + cash conversion + low dilution

Balance Sheet & Solvency

Leveraged
Net Debt / EBITDA
Net Debt: $88.38M
Interest Coverage
Leverage Metrics
Debt-to-Equity
2.83x
Balance sheet risk & solvency analysis