FirmAtlas
Company handbook · BE · Prepared by FirmAtlas · firmatlas.app · printed 2026-10-17
BE · CIK 1664703 · LATEST FILING: 10-Q JUN '26 · FILED JUL 28, 2026
BLOOM ENERGY CORPORATION
$221.31
−14.99 (−6.34%)
Close, Oct 16, 2026 · 52-week $76–351
Last fiscal year
BLOOM ENERGY CORPORATION reported revenue of $2.0B for the year ended Dec 31, 2025 (FY25), up 38.9% from FY24. Net loss was $87M, operating cash flow $114M and free cash flow $57M. Source: 10-K filed Feb 9, 2026.
Market cap
$53.2B
P/E
4615.5
EV/EBITDA
432.4x
P/B
57.7
ROIC
8.3%
Revenue 1Y
38.9%/yr
EPS 1Y
n/m
Shares 1Y
+6%
Loading chart…
Median
Daily closes, split-adjusted · ratios at each fiscal year end
Company
CEOKR Sridhar
HQSan Jose, CA
AuditorDeloitte & Touche LLP
Employees2,214
Year endsDecember
Revenue by segment · FY25
Product77%
Service11%
Installation10%
Electricity2%
Compounded growth & averages
10Y
5Y
3Y
TTM
Share price
—
60.0%
161.4%
92.3%
Upgrade to see 10 years
Share price: yearly compound rate of the traded close; the last column is the past year.
Where the cash went · FY24–FY25
$118M deployed
Capex
$116M
98.0%
Dividends
$2M
2.0%
Operating cash flow over the period: $206M. Total debt changed by +$1.4B. R&D of $335M is already inside operating costs.
Growth engines
How much of the profit growth came from new investment, and how much from running the business better.
Upgrade to see 10 years
Financials
Last 2 years · Upgrade to see 10 years · USD millions · each year opens its 10-K · change vs previous year
Last 4 quarters · USD millions · quarter-end month shown · change vs same quarter a year earlier
TTM = the last four quarters, to Mar '26. Balance-sheet rows show that latest quarter. “—” where the quarters do not add up to the annual figures. No TTM for cash: our quarterly rows do not hold short-term investments yet, and annual cash includes them.
Income
Revenue
1,441
2,002+38.9%
2,429
YoY
+38.9%
Gross profit
405
587+45.2%
724
Gross margin
28.1%
29.3%+1.3 pp
—
Operating income
23
73+217.8%
164
Operating margin
1.6%
3.6%+2.0 pp
—
EBITDA
76
123+62.4%
—
EBITDA margin
5.3%
6.2%+0.9 pp
—
Interest expense
63
38−39.1%
—
Interest coverage
1.21x
3.24x+2.02x
—
Net income
(27)
(87)n/m
12
YoY
n/m
Net margin
−1.9%
−4.4%−2.5 pp
—
EPS (diluted, $)
−0.13
−0.37n/m
—
YoY
n/m
Balance sheet
Total assets
2,657
4,397+65.5%
4,665
Cash & short-term investments
951
2,482+161.0%
—
Accounts receivable
336
372+10.7%
—
Inventory
545
643+18.1%
—
Net PP&E
403
399−1.2%
—
Other assets
422
502+18.7%
—
Total liabilities
2,095
3,628+73.2%
3,743
Accounts payable
93
203+119.1%
—
Total debt
1,243
2,622+110.9%
2,607
Other liabilities
759
803+5.8%
—
Shareholders’ equity
562
769+36.7%
921
Total liabilities = total assets − shareholders’ equity, so it includes minority interest where a company has one.
Cash flow statement · as filed
Cash from operations
92
114+23.9%
298
Net income
(27)
(87)n/m
—
Depreciation & amortization
53
51−4.7%
—
Working capital & other
66
151+127.5%
—
Cash from investing
(59)
(93)n/m
—
Capex
(59)
(57)n/m
—
PP&E sold
0.1
0.1+87.1%
—
Other investing
0
(36)n/m
—
Cash from financing
175
1,508+760.9%
—
Debt raised
402
2,500+521.1%
—
Dividends
(1)
(0.9)n/m
—
Shares issued
12
59+378.1%
—
Other financing
(238)
(1,050)n/m
—
Net change in cash
206
1,531+643.8%
—
Free cash flow (OCF − capex)
33
57+72.5%
230
Where the cash went
Operating cash flow
92
114+23.9%
298
Reinvested in the business
59
57−3.6%
—
% of operating cash flow
64.0%
49.8%
Capex
59
57−3.6%
69
R&D (memo, already in costs)
149
186+25.1%
—
Free cash flow
33
57+72.5%
230
YoY
+72.5%
Returned to shareholders
1
0.9−35.5%
—
% of free cash flow
4.4%
1.7%
Dividends
1
0.9−35.5%
—
Change in total debt
—
1,379
—
Cash left over
—
1,435
—
Owner earnings
—
(118)
—
Owner earnings margin
—
−5.9%
—
Returns & ratios
ROIC (all capital)
2.7%
8.3%+5.6 pp
—
ROIC (operating)
1.9%
6.1%+4.1 pp
—
Net debt / EBITDA
3.85x
1.14x−2.71x
—
Debt / equity
2.21x
3.41x+1.20x
—
Cash conversion cycle (days)
244
181−63 d
—
ROE
−4.8%
−11.3%−6.5 pp
—
ROA
−1.0%
−2.0%−1.0 pp
—
ROCE
1.1%
1.9%+0.8 pp
—
NOPAT
23
73+217.8%
—
Invested capital (operating)
1,191
1,210+1.6%
—
Invested capital (all)
855
909+6.4%
—
Reinvestment rate
—
26.4%
—
Debtor days
85
68−17 d
—
Inventory days
192
166−26 d
—
Days payable
33
52+20 d
—
Income
Jun '25
Sep '25
Dec '25
Mar '26
Revenue
396
513
773
746
vs year-ago quarter
Gross profit
107
152
240
226
Gross margin
27.0%
29.5%
31.0%
30.2%
Operating income
(4)
8
88
72
Net income
(42)
(23)
2
75
vs year-ago quarter
Net margin
−10.6%
−4.5%
0.2%
10.0%
EPS (diluted, $)
−0.18
−100.00
0.01
0.23
vs year-ago quarter
Balance sheet
Jun '25
Sep '25
Dec '25
Mar '26
Total assets
2,530
2,638
4,397
4,665
Cash & equivalents
606
627
2,482
2,518
Total debt
1,137
1,134
2,622
2,607
Shareholders’ equity
595
653
769
921
Cash flow
Jun '25
Sep '25
Dec '25
Mar '26
Operating cash flow
(213)
20
418
74
Capex
7
12
23
26
Free cash flow
(220)
7
395
47
vs year-ago quarter