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Fluence Energy
(NASDAQ:FLNC)
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Rating:42Neutral
Price Target:
$12.50
▼(-6.99% Downside)
Action:Reiterated
Date:08/09/26
The score is held down primarily by weak cash flow (deeply negative operating and free cash flow) alongside rising leverage and inconsistent profitability, which increase funding and execution risk. Technicals also remain unfavorable with the stock below all major moving averages and negative MACD. Offsetting factors include strong demand signals from record orders/backlog and a large pipeline, but the latest earnings call highlighted manufacturing delays, lowered FY26 guidance, and potential additional working-capital needs that limit near-term confidence.
Positive Factors
Large Backlog & Pipeline
A $6.4B backlog and $33.1B pipeline provide multi-year revenue visibility and optionality, anchoring future sales and deployment. This structural demand buffer reduces near-term demand risk, supports multi-year production planning, and creates a runway to scale recurring software and services revenue.
Negative Factors
Weak Cash Generation
Persistently negative operating and free cash flow forces dependence on external financing to fund operations and growth. Structural cash deficits constrain reinvestment, increase dilution/refinancing risk, and limit the company's ability to absorb execution setbacks or invest in margin-accretive software and services.
Read all positive and negative factors
Positive Factors
Negative Factors
Large Backlog & Pipeline
A $6.4B backlog and $33.1B pipeline provide multi-year revenue visibility and optionality, anchoring future sales and deployment. This structural demand buffer reduces near-term demand risk, supports multi-year production planning, and creates a runway to scale recurring software and services revenue.
Read all positive factors
Fluence Energy Key Performance Indicators (KPIs)
Any
Backlog
Represents the value of unfulfilled orders, indicating future revenue visibility and the strength of product demand.
Represents the value of unfulfilled orders, indicating future revenue visibility and the strength of product demand.
Data provided by:
The Fly
The FlyFluence Energy (FLNC) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.44B
Dividend YieldN/A
Average Volume (3M)8.29M
Price to Earnings (P/E)―
Beta (1Y)2.00
Revenue Growth7.46%
EPS Growth-329.43%
CountryUS
Employees1,670
SectorUtilities
Sector Strength65
IndustryRenewable Utilities
Share Statistics
EPS (TTM)-0.60
Shares Outstanding143,163,590
10 Day Avg. Volume6,657,734
30 Day Avg. Volume8,292,773
Financial Highlights & Ratios
PEG Ratio0.10
Price to Book (P/B)3.28
Price to Sales (P/S)0.62
P/FCF Ratio-8.03
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price Target
$19.15Price Target Upside42.51% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering14
EPS Forecast (FY)-0.29
Revenue Forecast (FY)$3.15B
Fluence Energy Business Overview & Revenue Model
Company Description
Fluence Energy, Inc. (FLNC) is a global provider of sophisticated energy storage systems and AI-powered digital applications, specifically designed for renewable energy integration and overall storage optimization. The company's core offering enco...
How the Company Makes Money
Fluence primarily makes money by selling and delivering turnkey battery energy storage systems (BESS) and related engineering, procurement, and construction-oriented project delivery for customers that need storage capacity on the grid or behind t...
Fluence Energy Earnings Call Summary
Earnings Call Date:Aug 05, 2026
(Q3-2026)
| % Change Since: |
Next Earnings Date:Nov 30, 2026
Earnings Call Sentiment Neutral
The call mixed strong commercial momentum with material execution challenges. Positives include record order intake, growing data center traction, a record backlog ($6.4B) and an expanded pipeline ($33.1B), plus product wins (Smartstack at 75% of orders) and maintained liquidity and ARR targets. Negatives center on operational execution: production and quality issues at two new manufacturing facilities that caused a ~$90M Q3 revenue shortfall, pushed ~$400M of revenue into fiscal 2027, produced ~$30M of near-term charges, and led to downward revisions to 2026 revenue and adjusted EBITDA guidance and a potential need for $300M–$500M additional working capital. Management has initiated leadership changes and remediation plans, but execution risk and near-term margin pressure remain significant.Positive Updates
Record Quarterly Order Intake
Signed $1.44 billion of orders in the third fiscal quarter, nearly triple the $509 million signed in the same period last year; $2.7 billion signed year-to-date through Q3, ~80% higher than last year.
Negative Updates
Production Ramp Delays and Quality Issues
Delays at two new contract manufacturing facilities (Houston enclosure facility and one international factory in China) led to limited production and quality rework; Houston ramp delayed by a few months and expected to reach full production in fiscal Q1 2027.
Read all updates
Q3-2026 Updates
Positive
Negative
Record Quarterly Order Intake
Signed $1.44 billion of orders in the third fiscal quarter, nearly triple the $509 million signed in the same period last year; $2.7 billion signed year-to-date through Q3, ~80% higher than last year.
Read all positive updates
Company Guidance
Fluence revised fiscal 2026 guidance to revenue of $2.9–$3.1 billion (midpoint $3.0B, ~ $400M below the prior midpoint) and adjusted EBITDA of −$30M to +$10M (midpoint −$10M, a $60M reduction versus the prior midpoint), citing manufacturing ramp delays that shifted ~ $400M of revenue into FY‑27; management attributed the EBITDA change to roughly $44M of lost margin from that shift plus ~$15M related to a long‑term battery supply agreement charge. Q3 actuals: revenue $650M (up 8% YoY, ~ $90M below prior expectations), Q3 adjusted gross profit hit by ≈$15M of new‑product/production delay costs and a ≈$15M battery loss; liquidity at quarter end was ~$863M (≈$365M cash) with an expectation to return to ~$900M by year‑end and a potential need for $300–$500M additional working capital next year. Other relevant metrics cited alongside the guidance: record Q3 order intake $1.44B (vs. $509M a year ago), backlog $6.4B (14% QoQ growth; $2.2B of backlog expected to convert in FY‑27), pipeline $33.1B, and an unchanged ARR target of ~ $180M by end of FY‑26; management expects Q4 gross margin toward ~11% and full U.S. factory production in fiscal Q1 FY‑27.Fluence Energy Financial Statement Overview
Summary
Income Statement
46
Neutral
Balance Sheet
42
Neutral
Cash Flow
28
Negative
| Breakdown | TTM | Sep 2025 | Sep 2024 | Sep 2023 | Sep 2022 | Sep 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.63B | 2.26B | 2.70B | 2.22B | 1.20B | 680.77M |
| Gross Profit | 241.55M | 295.79M | 341.08M | 140.96M | -62.35M | -69.14M |
| EBITDA | -33.01M | -16.99M | 41.10M | -101.94M | -276.41M | -153.63M |
| Net Income | -80.87M | -48.31M | 22.72M | -69.62M | -289.18M | -162.00M |
Balance Sheet | ||||||
| Total Assets | 2.62B | 2.36B | 1.90B | 1.35B | 1.75B | 717.67M |
| Cash, Cash Equivalents and Short-Term Investments | 339.33M | 690.77M | 448.69M | 345.90M | 467.65M | 36.83M |
| Total Debt | 392.16M | 390.80M | 30.36M | 50.56M | 2.74M | 100.00M |
| Total Liabilities | 2.18B | 1.81B | 1.30B | 795.82M | 1.12B | 773.87M |
| Stockholders Equity | 373.21M | 429.60M | 472.10M | 402.35M | 435.83M | -56.20M |
Cash Flow | ||||||
| Free Cash Flow | -131.88M | -175.34M | 60.71M | -124.15M | -290.32M | -269.56M |
| Operating Cash Flow | -100.79M | -145.54M | 79.69M | -111.93M | -282.38M | -265.27M |
| Investing Cash Flow | -57.40M | -29.80M | -18.98M | 94.44M | -148.42M | -22.29M |
| Financing Cash Flow | 70.29M | 356.88M | -8.68M | 52.59M | 817.05M | 231.13M |
Fluence Energy Technical Analysis
Negative
13.44
Price Trends
18.56
Negative
17.21
Negative
18.80
Negative
Market Momentum
-1.16
Negative
40.68
Neutral
42.67
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FLNC, the sentiment is Negative. The current price of 13.44 is below the 20-day moving average (MA) of 14.15, below the 50-day MA of 18.56, and below the 200-day MA of 18.80, indicating a bearish trend. The MACD of -1.16 indicates Negative momentum. The RSI at 40.68 is Neutral, neither overbought nor oversold. The STOCH value of 42.67 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for FLNC.
Fluence Energy Risk Analysis
Fluence Energy disclosed 76 risk factors in its most recent earnings report. Fluence Energy reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Fluence Energy Peers Comparison
UnderperformOutperform
Sector (66)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | $17.65B | 18.10 | 5.60% | 3.62% | 6.62% | 11.55% | |
57 Neutral | $2.25B | 20.21 | 8.54% | ― | 30.87% | 121.64% | |
53 Neutral | $4.22B | -3.82 | -31.82% | ― | -80.95% | -91.30% | |
52 Neutral | $40.53M | -10.43 | -64.74% | ― | -77.09% | -82.90% | |
47 Neutral | $632.53M | -5.06 | -171.04% | ― | 361.99% | 22.34% | |
43 Neutral | $48.78M | -0.42 | 506.75% | ― | 131.30% | 87.66% | |
42 Neutral | $2.44B | -21.99 | -20.75% | ― | 7.46% | -329.43% |
* Utilities Sector Average
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Fluence Energy Corporate Events
Business Operations and StrategyExecutive/Board Changes
Fluence Energy Adds AES Leader to Board of Directors
Positive
Jun 5, 2026
On June 2, 2026, Fluence Energy director John Christopher “Chris” Shelton tendered his resignation from the board, effective at the close of business on June 3, 2026, with the company stating his departure was not due to any disagreeme...
Business Operations and StrategyPrivate Placements and Financing
Fluence Energy Boosts Public Float, Broadens Shareholder Base
Positive
May 15, 2026
On May 14, 2026, AES Grid Stability, LLC exercised its redemption right for 10,066,414 common units of Fluence Energy, LLC, with a corresponding cancellation of the same number of Fluence Energy, Inc. Class B-1 shares. Fluence settled the transact...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.