Bloom Energy (BE) AI Stock Analysis

• Market Cap: $4.70B
• Dividend Yield: N/A
• Average Volume (3M): 7.21M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.94
• Revenue Growth: 20.95%
• EPS Growth: N/A
• Country: US
• Employees: 2,127
• Sector: Industrials
• Sector Strength: 88
• Industry: Electrical Equipment & Parts
• EPS (TTM): 0.03
• Shares Outstanding: 232,228,600
• 10 Day Avg. Volume: 7,433,002
• 30 Day Avg. Volume: 7,214,085
• PEG Ratio: 13.68
• Price to Book (P/B): 7.01
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 53.21
• Enterprise Value/Market Cap: 1.02
• Enterprise Value/Revenue: 0.86
• Enterprise Value/Gross Profit: 9.79
• Enterprise Value/Ebitda: 79.22
• 1Y Price Target: $23.29
• Price Target Upside: 17.51% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 19

Bloom Energy's stock score reflects solid financial performance and strong cash flow generation, offset by bearish technical indicators and a challenging valuation. The company's strategic debt management and positive earnings outlook support its growth potential. However, high leverage, economic uncertainties, and a high P/E ratio present notable risks.

Positive Factors

Demand

Management emphasized strong AI-related data center demand with no visible slowdown.

Earnings

1Q results exceeded expectations, with Bloom Energy reporting $326m of revenue, representing 39% year-over-year growth.

Financial Performance

Strong cash position and service margin positive for 5th consecutive quarter.

Negative Factors

Management Changes

The surprise departure of its CFO, Dan Berenbaum, after just a year in the seat is a new overhang on the stock.

Project Timing

Challenges in timing projects make predicting Bloom's quarterly performance difficult, especially with some larger data center wins potentially moving to a later year.

Tariffs

Potential tariff impacts, particularly on imported steel, pose a downside risk for Bloom Energy, even though the company manufactures all its finished products domestically with a China-free supply chain.

Bloom Energy Business Overview & Revenue Model

Company Description

Bloom Energy Corporation designs, manufactures, sells, and installs solid-oxide fuel cell systems for on-site power generation in the United States and internationally. The company offers Bloom Energy Server, a power generation platform that converts fuel, such as natural gas, biogas, hydrogen, or a blend of these fuels, into electricity through an electrochemical process without combustion. It serves data centers, hospitals, healthcare manufacturing facilities, biotechnology facilities, grocery stores, hardware stores, banks, telecom facilities and other critical infrastructure applications. The company was formerly known as Ion America Corp. and changed its name to Bloom Energy Corporation in September 2006. Bloom Energy Corporation was incorporated in 2001 and is headquartered in San Jose, California.

How the Company Makes Money

Bloom Energy makes money primarily through the sale and service of its Bloom Energy Servers, which are solid oxide fuel cell systems capable of converting natural gas, biogas, or hydrogen into electricity through a clean electrochemical process. The company's revenue model includes direct sales of these energy servers to various commercial, industrial, and governmental clients. Additionally, Bloom Energy generates recurring revenue through long-term service agreements and maintenance contracts for its installed systems. The company also engages in strategic partnerships and collaborations to expand its market reach and enhance its product offerings. Furthermore, Bloom Energy benefits from various governmental incentives and subsidies aimed at promoting clean energy solutions, which contribute to its financial performance.

Bloom Energy Financial Statement Overview

Summary

Bloom Energy shows strong financial improvement, with solid revenue growth, improved gross profit margins, and a positive net profit margin. The balance sheet reflects better leverage management, though high leverage remains a concern. Cash flow performance is robust, with significant improvements in free cash flow, indicating strong cash generation capabilities.

Income Statement

Bloom Energy has shown significant improvement in its income statement metrics over the TTM (Trailing-Twelve-Months). The company experienced a robust revenue growth rate, increasing from $1,473.9 million to $1,564.6 million, reflecting a positive growth trajectory. Gross profit margin improved to 31.5%, suggesting better cost management. The net profit margin turned positive at 0.3%, indicating a shift towards profitability after a series of losses. EBIT and EBITDA margins have also improved, demonstrating enhanced operational efficiency. However, the company still faces challenges in maintaining consistent profitability.

Balance Sheet

The balance sheet of Bloom Energy reflects a moderate financial position. The debt-to-equity ratio improved to 2.20, indicating better leverage management, though still relatively high. The return on equity (ROE) turned positive at 0.8%, signaling improved returns for shareholders. The equity ratio stands at 22.2%, suggesting moderate equity financing. While the company has made progress in reducing its debt levels, the high leverage remains a potential risk factor.

Cash Flow

Bloom Energy's cash flow metrics show a strong performance, with a significant improvement in free cash flow growth rate, which increased from $33.1 million to $76.9 million. The operating cash flow to net income ratio is favorable at 28.7, reflecting strong cash generation relative to net income. The free cash flow to net income ratio of 17.2 indicates effective cash management. The company’s ability to generate cash has strengthened, providing a solid foundation for future growth.

Breakdown
TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement		Total Revenue
1.56B	1.47B	1.33B	1.20B	972.18M	794.25M
	Gross Profit
492.48M	404.65M	197.79M	148.29M	197.58M	165.79M
	EBIT
90.06M	22.91M	-208.91M	-260.99M	-114.50M	-80.78M
	EBITDA
100.24M	89.33M	-135.13M	-198.89M	-60.14M	-42.44M
	Net Income Common Stockholders
4.48M	-29.23M	-302.12M	-315.09M	-193.37M	-179.09M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
794.75M	802.85M	664.59M	348.50M	396.04M	246.95M
	Total Assets
2.61B	2.66B	2.41B	1.95B	1.73B	1.45B
	Total Debt
1.52B	1.53B	1.45B	1.02B	1.12B	913.37M
	Net Debt
728.22M	726.92M	790.09M	671.10M	726.60M	666.43M
	Total Liabilities
2.01B	2.07B	1.89B	1.57B	1.73B	1.31B
	Stockholders Equity
578.27M	562.47M	502.08M	340.78M	-44.33M	78.82M
Cash Flow		Free Cash Flow
76.91M	33.15M	-456.27M	-308.55M	-110.49M	-136.61M
	Operating Cash Flow
128.58M	92.00M	-372.53M	-191.72M	-60.68M	-98.69M
	Investing Cash Flow
-51.57M	-58.78M	-83.72M	-116.82M	-46.70M	-37.91M
	Financing Cash Flow
173.19M	175.21M	683.35M	220.55M	306.38M	175.93M

Bloom Energy Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 19.82
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BE, the sentiment is Positive. The current price of 19.82 is above the 20-day moving average (MA) of 17.83, below the 50-day MA of 19.87, and above the 200-day MA of 18.09, indicating a neutral trend. The MACD of -0.07 indicates Negative momentum. The RSI at 57.69 is Neutral, neither overbought nor oversold. The STOCH value of 92.95 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for BE.

Bloom Energy Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ATKR	72 Outperform	$2.33B	13.36	12.73%	1.84%	-12.02%	-67.69%
Sector *	64 Neutral	$4.39B	12.06	5.17%	249.63%	4.03%	-11.04%
BE	64 Neutral	$4.70B	―	0.86%	―	20.95%	―
SKYX	50 Neutral	$147.30M	―	-395.45%	―	12.42%	23.63%
EOSE	45 Neutral	$1.58B	―	125.43%	―	37.60%	-161.38%
PLUG	44 Neutral	$846.82M	―	-83.81%	―	-19.85%	4.94%
FCEL	42 Neutral	$91.54M	―	-18.96%	―	11.09%	0.41%

Bloom Energy Corporate Events

Bloom Energy Extends Debt Maturity with Note Swap

On May 7, 2025, Bloom Energy Corporation entered into exchange agreements to swap approximately $112.8 million of its 2.50% Green Convertible Senior Notes due 2025 for $115.7 million of 3.00% Green Convertible Senior Notes due 2029. This strategic move aims to extend the maturity of its debt obligations and improve financial flexibility, impacting the company’s capital structure and potentially its market positioning.

The most recent analyst rating on (BE) stock is a Buy with a $13.00 price target. To see the full list of analyst forecasts on Bloom Energy stock, see the BE Stock Forecast page.

Spark’s Take on BE Stock

According to Spark, TipRanks’ AI Analyst, BE is a Neutral.

Bloom Energy’s overall stock score is impacted by its solid financial performance and cash flow generation, which are offset by bearish technical indicators and a challenging valuation. While there is potential for growth, particularly from international expansion and service segment profitability, risks from economic uncertainties and high leverage remain. The stock’s high P/E ratio further suggests caution for current investors.

To see Spark’s full report on BE stock, click here.