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Bloom Energy (BE) Financials

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$285.86 +24.83 (+9.51%)
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Annual Income Statements for Bloom Energy

Annual Income Statements for Bloom Energy

This table shows Bloom Energy's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -280 -263 -274 -307 -315 -329 -603 -302 -29 -88
Consolidated Net Income / (Loss)		 -336 -281 -291 -323 -179 -193 -315 -308 -27 -87
Net Income / (Loss) Continuing Operations		 -336 -281 -291 -323 -179 -193 -315 -308 -27 -87
Total Pre-Tax Income 		-336 -281 -290 -323 -179 -192 -314 -306 -26 -84
Total Operating Income		 -241 -157 -165 -233 -81 -115 -261 -209 23 73
Total Gross Profit		 -103 -18 106 98 166 198 148 198 405 587
Total Revenue		 209 376 633 785 794 972 1,199 1,333 1,474 2,024
Operating Revenue		 209 376 633 785 794 972 1,199 1,333 1,474 2,024
Total Cost of Revenue		 312 394 527 688 628 775 1,051 1,136 1,069 1,437
Operating Cost of Revenue		 312 394 527 688 628 775 1,051 1,136 1,069 1,437
Total Operating Expenses		 137 139 271 330 247 312 409 407 382 515
Selling, General & Admin Expense		 62 56 119 153 107 122 168 161 165 198
Marketing Expense		 29 32 63 74 56 86 91 90 68 130
Research & Development Expense		 47 51 89 104 84 103 151 156 149 186
Total Other Income / (Expense), net		 -95 -123 -125 -90 -98 -78 -53 -97 -49 -157
Interest Expense		 81 109 106 94 92 69 62 113 90 152
Interest & Investment Income		 0.39 0.76 4.32 5.66 1.48 0.26 3.89 20 25 -6.35
Other Income / (Expense), net		 -14 -15 -23 -1.45 -7.85 -9.06 5.56 -4.43 15 1.61
Income Tax Expense		 0.73 0.64 1.54 0.63 0.26 1.05 1.10 1.89 0.85 2.74
Net Income / (Loss) Attributable to Noncontrolling Interest		 -57 -19 -18 -19 136 136 288 -5.82 2.02 1.29
Basic Earnings per Share		 ($27.84) ($25.62) ($5.14) ($2.67) ($1.14) ($0.95) ($1.62) ($1.42) ($0.13) ($0.37)
Weighted Average Basic Shares Outstanding		 10.05M 10.25M 53.27M 115.12M 138.72M 173.44M 185.91M 212.68M 227.37M 240.40M
Diluted Earnings per Share		 ($27.84) ($25.62) ($5.14) ($2.67) ($1.14) ($0.95) ($1.62) ($1.42) ($0.13) ($0.37)
Weighted Average Diluted Shares Outstanding		 10.05M 10.25M 53.27M 115.12M 138.72M 173.44M 185.91M 212.68M 227.37M 240.40M
Weighted Average Basic & Diluted Shares Outstanding		 10.05M 10.25M 53.27M 115.12M 138.72M 177.12M 206.10M 224.97M 230.40M 280.55M

Quarterly Income Statements for Bloom Energy

This table shows Bloom Energy's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 -169 -298 -58 -62 -15 76 -24 -43 -23 1.09 71
Consolidated Net Income / (Loss)		 -168 4.12 -57 -61 -15 105 -23 -42 -23 1.43 74
Net Income / (Loss) Continuing Operations		 -168 4.12 -57 -61 -15 105 -23 -42 -23 1.43 74
Total Pre-Tax Income 		-167 4.93 -57 -60 -15 106 -23 -41 -23 2.38 74
Total Operating Income		 -104 13 -49 -23 -9.65 105 -19 -3.50 7.85 88 72
Total Gross Profit		 -5.21 92 38 69 79 219 89 107 152 240 226
Total Revenue		 400 357 235 336 330 572 326 401 519 778 751
Operating Revenue		 400 357 235 336 330 572 326 401 519 778 751
Total Cost of Revenue		 405 265 197 267 252 353 237 294 367 538 526
Operating Cost of Revenue		 405 265 197 267 252 353 237 294 367 538 526
Total Operating Expenses		 98 79 87 92 88 115 108 111 144 152 153
Selling, General & Admin Expense		 43 30 38 36 37 53 45 46 53 55 58
Marketing Expense		 20 16 14 18 15 22 22 24 42 42 38
Research & Development Expense		 35 34 35 37 36 39 41 41 49 56 57
Total Other Income / (Expense), net		 -64 -8.01 -8.03 -37 -4.87 0.83 -3.91 -38 -30 -85 1.95
Interest Expense		 69 15 15 43 17 16 14 47 14 77 8.60
Interest & Investment Income		 7.42 6.11 7.53 6.43 6.46 4.93 8.55 6.62 -14 -7.22 3.60
Other Income / (Expense), net		 -1.69 0.44 -1.01 -1.07 5.44 12 1.95 2.49 -1.77 -1.04 6.95
Income Tax Expense		 0.65 0.81 -0.50 0.86 0.11 0.38 0.43 1.02 0.34 0.95 0.45
Net Income / (Loss) Attributable to Noncontrolling Interest		 0.92 302 0.98 0.60 0.08 30 0.40 0.43 0.13 0.33 3.04
Basic Earnings per Share		 ($0.80) $0.05 ($0.25) ($0.27) ($60.00) $0.45 ($0.10) ($0.18) ($100.00) $99.91 $0.25
Weighted Average Basic Shares Outstanding		 210.93M 212.68M 225.59M 227.17M 227.96M 227.37M 230.21M 232.54M 234.93M 240.40M 281.72M
Diluted Earnings per Share		 ($0.80) $0.05 ($0.25) ($0.27) ($60.00) $0.45 ($0.10) ($0.18) ($100.00) $99.91 $0.23
Weighted Average Diluted Shares Outstanding		 210.93M 212.68M 225.59M 227.17M 227.96M 227.37M 230.21M 232.54M 234.93M 240.40M 319.71M
Weighted Average Basic & Diluted Shares Outstanding		 224.05M 224.97M 227.02M 227.64M 228.58M 230.40M 232.23M 234.00M 236.51M 280.55M 284.44M

Annual Cash Flow Statements for Bloom Energy

This table details how cash moves in and out of Bloom Energy's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 20 -28 100 97 39 198 -97 227 206 1,529
Net Cash From Operating Activities		 -283 -67 -92 164 -99 -61 -192 -373 92 114
Net Cash From Continuing Operating Activities		 -283 -67 -92 164 -99 -61 -192 -373 92 114
Net Income / (Loss) Continuing Operations		 -336 -281 -291 -323 -179 -193 -315 -308 -27 -87
Consolidated Net Income / (Loss)		 -336 -281 -291 -323 -179 -193 -315 -308 -27 -87
Depreciation Expense		 43 46 54 79 52 53 62 63 53 51
Amortization Expense		 32 46 25 22 6.46 3.80 3.03 4.77 6.80 8.25
Non-Cash Adjustments To Reconcile Net Income		 39 36 191 283 92 65 233 283 -10 234
Changes in Operating Assets and Liabilities, net		 -60 85 -71 103 -70 11 -174 -415 70 -91
Net Cash From Investing Activities		 -8.98 -32 -125 53 -38 -47 -117 -84 -59 -93
Net Cash From Continuing Investing Activities		 -8.98 -32 -125 53 -38 -47 -117 -84 -59 -93
Purchase of Property, Plant & Equipment		 -8.98 -5.14 -45 -51 -38 -50 -117 -84 -59 -57
Acquisitions		 0.00 0.00 -3.26 - - - - 0.00 0.00 -36
Sale of Property, Plant & Equipment		 - - - - - 0.00 0.00 0.01 0.07 0.13
Net Cash From Financing Activities		 283 62 317 -120 176 306 211 683 175 1,508
Net Cash From Continuing Financing Activities		 312 71 317 -120 176 306 211 683 175 1,508
Repayment of Debt		 -33 -28 -26 -136 -203 -148 -163 -230 -244 -1,050
Repurchase of Common Equity		 0.00 -1.09 -5.52 -56 0.00 0.00 -14 -0.40 0.00 0.00
Payment of Dividends		 -46 -24 -15 -13 -7.62 -5.84 -6.85 -2.27 -1.47 -0.95
Issuance of Debt		 173 100 293 0.00 330 136 0.00 637 403 2,500
Issuance of Preferred Equity		 3.00 0.00 - 0.00 0.00 218 0.00 311 0.00 0.00
Issuance of Common Equity		 211 23 1.52 13 30 90 403 24 16 59
Other Financing Activities, net		 3.34 0.00 70 72 26 17 -8.74 -56 1.80 0.00
Cash Interest Paid		 21 22 60 70 72 69 49 50 56 50
Cash Income Taxes Paid		 0.64 0.62 1.75 0.86 0.37 0.58 1.44 1.46 1.42 1.71

Quarterly Cash Flow Statements for Bloom Energy

This table details how cash moves in and out of Bloom Energy's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 -285 107 -162 55 -89 404 -120 -225 21 1,853 37
Net Cash From Operating Activities		 -133 122 -147 -175 -69 484 -111 -213 20 418 74
Net Cash From Continuing Operating Activities		 -133 121 -147 -175 -69 484 -111 -213 -2.18 440 74
Net Income / (Loss) Continuing Operations		 -168 4.12 -57 -61 -15 105 -23 -42 -23 1.43 74
Consolidated Net Income / (Loss)		 -168 4.12 -57 -61 -15 105 -23 -42 -23 1.43 74
Depreciation Expense		 15 12 13 13 13 14 12 13 13 13 13
Amortization Expense		 1.51 1.47 1.47 1.60 1.86 1.86 1.86 1.86 1.81 2.71 3.43
Non-Cash Adjustments To Reconcile Net Income		 100 111 17 -6.83 -17 -2.08 22 74 -67 203 7.91
Changes in Operating Assets and Liabilities, net		 -81 -7.54 -121 -122 -53 365 -123 -260 73 219 -25
Net Cash From Investing Activities		 -21 -16 -21 -12 -14 -11 -14 -7.21 -37 -35 -46
Net Cash From Continuing Investing Activities		 -21 -16 -21 -12 -14 -11 -14 -7.21 -12 -59 -46
Purchase of Property, Plant & Equipment		 -21 -16 -21 -12 -14 -11 -14 -7.25 -12 -23 -26
Acquisitions		 - - - - - - 0.00 - - - -20
Sale of Property, Plant & Equipment		 -0.02 0.01 0.01 0.02 0.01 0.03 0.04 0.03 - 0.06 0.09
Net Cash From Financing Activities		 -130 1.19 7.15 243 -5.60 -69 5.13 -7.06 39 1,471 7.06
Net Cash From Continuing Financing Activities		 -130 1.19 7.15 243 -5.60 -69 5.13 -7.06 39 1,471 7.06
Repayment of Debt		 -127 -4.76 -4.96 -158 -10 20 -2.52 -6.14 -2.94 -1,038 -8.78
Issuance of Common Equity		 6.75 0.94 11 0.16 4.14 1.25 7.65 0.03 42 9.09 16
Effect of Exchange Rate Changes		 -0.66 0.70 -0.91 -0.26 0.69 - 0.16 2.07 -1.25 - 1.98
Cash Interest Paid		 10 17 9.71 17 7.81 21 5.46 21 3.92 19 4.15
Cash Income Taxes Paid		 0.38 0.12 0.33 0.50 0.45 0.14 0.38 0.39 0.35 0.58 0.62

Annual Balance Sheets for Bloom Energy

This table presents Bloom Energy's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 1,221 1,390 1,323 1,454 1,726 1,947 2,414 2,657 4,397
Total Current Assets		 420 673 473 619 806 1,056 1,693 2,044 3,731
Cash & Equivalents		 104 221 203 247 396 348 665 803 2,454
Restricted Cash		 44 29 31 52 93 52 47 111 1.97
Accounts Receivable		 30 85 38 96 88 251 341 336 372
Inventories, net		 90 132 110 142 143 268 503 545 643
Prepaid Expenses		 27 34 28 31 31 44 51 46 50
Other Current Assets		 92 62 58 45 50 93 87 204 210
Plant, Property, & Equipment, net		 498 481 607 0.00 0.00 600 493 403 399
Total Noncurrent Assets		 303 236 243 836 919 290 227 210 268
Long-Term Investments		 - - - - - - - 0.00 10
Other Noncurrent Operating Assets		 231 169 192 791 880 290 227 210 258
Total Liabilities & Shareholders' Equity		 1,221 1,390 1,323 1,454 1,726 1,947 2,414 2,657 4,397
Total Liabilities		 1,722 1,299 1,490 1,313 1,519 1,568 1,893 2,072 3,604
Total Current Liabilities		 271 280 574 436 342 542 470 637 624
Short-Term Debt		 19 28 334 121 26 26 0.00 114 4.15
Accounts Payable		 49 67 56 58 73 162 132 93 203
Accrued Expenses		 17 19 10 10 12 17 19 17 20
Current Deferred Revenue		 118 94 89 114 90 159 129 243 101
Other Current Liabilities		 69 72 85 133 142 178 190 170 296
Total Noncurrent Liabilities		 1,450 928 916 877 1,176 1,026 1,423 1,435 2,966
Long-Term Debt		 921 711 299 270 501 386 847 1,014 2,614
Noncurrent Deferred Revenue		 310 242 126 87 90 56 19 43 43
Other Noncurrent Operating Liabilities		 219 -26 492 519 585 584 557 378 309
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 -2,025 125 -168 141 -1.83 379 521 585 793
Total Preferred & Common Equity		 -2,180 0.00 -260 79 -44 341 502 562 769
Total Common Equity		 -2,180 0.00 -260 79 -44 341 502 562 769
Common Stock		 151 - 2,687 3,183 3,219 3,907 4,370 4,463 4,756
Retained Earnings		 -2,331 - -2,946 -3,104 -3,263 -3,564 -3,867 -3,898 -3,987
Accumulated Other Comprehensive Income / (Loss)		 -0.16 - 0.02 -0.01 -0.35 -1.25 -1.69 -2.59 -0.37
Noncontrolling Interest		 155 125 91 62 42 38 19 23 24

Quarterly Balance Sheets for Bloom Energy

This table presents Bloom Energy's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 9/30/2022 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 1,902 2,192 2,720 2,376 2,286 2,548 2,605 2,608 2,530 2,638 4,665
Total Current Assets		 964 1,245 1,776 1,682 1,580 1,830 1,903 2,009 1,933 2,048 3,955
Cash & Equivalents		 492 320 767 557 516 582 496 795 575 595 2,491
Restricted Cash		 42 47 46 43 51 25 23 6.20 1.13 8.47 1.25
Accounts Receivable		 71 330 351 334 348 524 591 334 467 412 359
Inventories, net		 255 398 468 476 526 520 584 613 690 705 733
Prepaid Expenses		 46 56 50 66 48 40 48 51 40 45 104
Other Current Assets		 58 93 94 206 90 139 162 210 160 283 266
Plant, Property, & Equipment, net		 647 603 606 491 496 494 485 406 403 400 401
Total Noncurrent Assets		 291 344 337 203 210 224 217 193 194 190 309
Long-Term Investments		 - - - - - - - - - 5.94 23
Other Noncurrent Operating Assets		 291 344 337 203 210 224 217 193 194 184 286
Total Liabilities & Shareholders' Equity		 1,902 2,192 2,720 2,376 2,286 2,548 2,605 2,608 2,530 2,638 4,665
Total Liabilities		 1,491 1,758 2,374 1,871 1,797 2,101 2,150 2,007 1,911 1,961 3,717
Total Current Liabilities		 393 772 829 462 355 393 567 584 387 466 787
Short-Term Debt		 29 24 11 0.00 - - 114 115 3.71 1.42 3.96
Accounts Payable		 120 130 195 154 94 104 124 145 145 167 242
Accrued Expenses		 13 9.46 15 17 9.20 12 15 10 12 15 38
Current Deferred Revenue		 99 149 138 119 95 112 142 168 60 56 194
Other Current Liabilities		 131 459 471 172 157 165 171 146 167 226 309
Total Noncurrent Liabilities		 1,098 987 1,545 1,409 1,442 1,708 1,583 1,422 1,524 1,495 2,930
Long-Term Debt		 455 378 947 842 848 1,125 1,013 1,016 1,129 1,131 2,599
Noncurrent Deferred Revenue		 69 29 26 14 40 29 35 47 48 32 39
Other Noncurrent Operating Liabilities		 575 580 572 553 554 554 535 359 347 332 292
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00 - 0.00
Total Equity & Noncontrolling Interests		 202 434 346 505 489 447 455 601 619 677 948
Total Preferred & Common Equity		 173 399 308 487 466 423 431 578 595 653 921
Total Common Equity		 173 399 308 487 466 423 431 578 595 653 921
Common Stock		 3,692 4,037 4,012 4,360 4,394 4,413 4,435 4,503 4,560 4,642 4,836
Retained Earnings		 -3,517 -3,636 -3,702 -3,871 -3,926 -3,988 -4,002 -3,922 -3,965 -3,988 -3,917
Accumulated Other Comprehensive Income / (Loss)		 -1.53 -1.35 -2.05 -2.38 -2.14 -2.30 -1.82 -2.27 -0.81 -1.18 2.97
Noncontrolling Interest		 29 35 38 19 23 23 24 23 25 24 27

Annual Metrics And Ratios for Bloom Energy

This table displays calculated financial ratios and metrics derived from Bloom Energy's official financial filings.

Metric 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Growth Metrics		 - - - - - - - - - -
Revenue Growth		 0.00% 80.30% 68.26% 24.11% 1.16% 22.40% 23.34% 11.20% 10.53% 37.33%
EBITDA Growth		 0.00% 55.32% -35.34% -22.72% 77.61% -121.73% -187.73% 23.50% 167.12% 36.00%
EBIT Growth		 0.00% 32.19% -8.90% -24.51% 62.16% -39.40% -106.72% 16.48% 117.87% 95.22%
NOPAT Growth		 0.00% 34.73% -4.91% -41.09% 65.30% -41.74% -127.94% 19.96% 110.97% 217.79%
Net Income Growth		 0.00% 16.37% -3.56% -11.05% 44.64% -7.97% -62.95% 2.27% 91.17% -220.33%
EPS Growth		 0.00% 7.97% 79.94% 48.05% 57.30% 16.67% -70.53% 12.35% 90.85% -184.62%
Operating Cash Flow Growth		 0.00% 76.25% -36.88% 278.11% -160.33% 38.58% -215.95% -94.31% 124.70% 23.86%
Free Cash Flow Firm Growth		 0.00% 0.00% -10.41% 140.58% -134.57% -59.44% -254.67% -25.57% 68.76% 16.68%
Invested Capital Growth		 0.00% 0.00% 112.70% -58.83% 0.62% 5.28% 59.22% 68.01% 22.05% 19.75%
Revenue Q/Q Growth		 0.00% 0.00% 0.00% 16.18% 4.73% 10.59% 11.13% -7.34% 17.12% 11.29%
EBITDA Q/Q Growth		 0.00% 0.00% 0.00% 24.59% 56.23% -38.16% -6.16% 24.34% 1,466.30% -18.34%
EBIT Q/Q Growth		 0.00% 0.00% 0.00% 17.87% 29.92% -11.38% -5.29% 18.76% 158.58% -28.79%
NOPAT Q/Q Growth		 0.00% 0.00% 0.00% 18.10% 34.92% -8.52% -11.57% 20.39% 133.27% -35.97%
Net Income Q/Q Growth		 0.00% 0.00% 0.00% 16.78% 18.04% -9.59% -0.73% 15.13% 78.79% -625.22%
EPS Q/Q Growth		 0.00% 0.00% 0.00% -1,060.87% 29.19% -10.47% -0.62% 14.97% 75.47% 99.07%
Operating Cash Flow Q/Q Growth		 0.00% 0.00% -484.73% 159.19% -71.21% 52.13% -58.22% 28.03% 134.02% -36.73%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% 0.00% -28.75% 38.64% -58.80% 27.86% 64.79% -89.53%
Invested Capital Q/Q Growth		 0.00% 0.00% 0.00% -18.05% -3.20% -22.75% 8.40% -12.22% -24.78% -20.13%
Profitability Metrics		 - - - - - - - - - -
Gross Margin		 -49.63% -4.80% 16.72% 12.43% 20.87% 20.32% 12.37% 14.83% 27.46% 29.02%
EBITDA Margin		 -86.30% -21.39% -17.20% -17.01% -3.77% -6.82% -15.91% -10.95% 6.65% 6.58%
Operating Margin		 -115.56% -41.83% -26.08% -29.65% -10.17% -11.78% -21.77% -15.67% 1.55% 3.60%
EBIT Margin		 -122.18% -45.95% -29.74% -29.84% -11.16% -12.71% -21.30% -16.00% 2.59% 3.68%
Profit (Net Income) Margin		 -161.27% -74.81% -46.04% -41.20% -22.55% -19.89% -26.28% -23.09% -1.85% -4.31%
Tax Burden Percent		 100.22% 100.23% 100.53% 100.20% 100.14% 100.54% 100.35% 100.62% 103.21% 103.24%
Interest Burden Percent		 131.71% 162.43% 154.00% 137.81% 201.75% 155.65% 122.93% 143.45% -69.14% -113.42%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.00% -83.32% -27.95% -41.07% -24.36% -33.53% -57.49% -27.95% 2.20% 5.79%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% -128.07% -58.66% -82.28% -74.29% -208.20% -590.03% -248.28% -22.47% -66.70%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 195.68% 210.99% -4,417.15% 1,377.80% -77.47% -50.08% -40.52% -7.12% -18.44%
Return on Equity (ROE)		 0.00% 112.36% 183.04% -4,458.22% 1,353.44% -111.00% -107.57% -68.47% -4.92% -12.65%
Cash Return on Invested Capital (CROIC)		 0.00% -283.32% -100.03% 42.27% -24.98% -38.68% -103.18% -78.71% -17.66% -12.18%
Operating Return on Assets (OROA)		 0.00% -14.15% -14.41% -17.27% -6.38% -7.77% -13.91% -9.79% 1.50% 2.11%
Return on Assets (ROA)		 0.00% -23.04% -22.31% -23.85% -12.90% -12.16% -17.16% -14.12% -1.07% -2.47%
Return on Common Equity (ROCE)		 0.00% 489.28% 1,253.75% 79,755.13% 9,245.05% -10.99% -54.43% -64.16% -4.74% -12.21%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 12.90% 0.00% 124.60% -227.20% 436.24% -92.46% -61.33% -4.84% 0.00%
Net Operating Profit after Tax (NOPAT)		 -169 -110 -116 -163 -57 -80 -183 -146 16 51
NOPAT Margin		 -80.89% -29.28% -18.26% -20.75% -7.12% -8.24% -15.24% -10.97% 1.09% 2.52%
Net Nonoperating Expense Percent (NNEP)		 0.00% 44.75% 30.71% 41.20% 49.94% 174.67% 532.54% 220.33% 24.67% 72.49%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - -23.11% -10.70% 0.94% 1.49%
Cost of Revenue to Revenue		 149.63% 104.80% 83.28% 87.57% 79.13% 79.68% 87.63% 85.17% 72.54% 70.98%
SG&A Expenses to Revenue		 29.51% 14.81% 18.78% 19.44% 13.48% 12.57% 13.99% 12.06% 11.20% 9.80%
R&D to Revenue		 22.46% 13.60% 14.09% 13.27% 10.52% 10.64% 12.56% 11.69% 10.08% 9.19%
Operating Expenses to Revenue		 65.93% 37.03% 42.80% 42.08% 31.05% 32.10% 34.13% 30.50% 25.90% 25.42%
Earnings before Interest and Taxes (EBIT)		 -255 -173 -188 -234 -89 -124 -255 -213 38 74
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -180 -80 -109 -134 -30 -66 -191 -146 98 133
Valuation Ratios		 - - - - - - - - - -
Price to Book Value (P/BV)		 0.00 0.00 0.00 0.00 60.43 0.00 10.95 6.60 9.03 26.74
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 0.00 60.43 0.00 10.95 6.60 9.03 26.74
Price to Revenue (P/Rev)		 1.29 0.72 1.73 1.12 6.00 3.96 3.11 2.49 3.44 10.15
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 10.27 2.94 5.93 21.12 16.88 9.69 5.29 6.64 21.62
Enterprise Value to Revenue (EV/Rev)		 0.00 7.22 2.61 1.75 6.19 4.26 3.15 2.60 3.61 10.24
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 54.25 155.57
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 139.42 278.52
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 331.42 406.71
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 8.38 0.00 0.00 0.00 0.00 57.77 181.89
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 8.18 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - -
Debt to Equity		 0.00 -1.88 4.05 -3.77 2.76 2.54 1.09 1.63 1.93 3.30
Long-Term Debt to Equity		 0.00 -1.84 3.90 -1.78 1.91 2.42 1.02 1.63 1.73 3.30
Financial Leverage		 0.00 -1.53 -3.60 53.69 -18.55 0.37 0.08 0.16 0.32 0.28
Leverage Ratio		 0.00 -2.44 -8.20 186.91 -104.93 9.13 6.27 4.85 4.59 5.12
Compound Leverage Factor		 0.00 -3.96 -12.63 257.58 -211.71 14.21 7.71 6.95 -3.17 -5.81
Debt to Total Capital		 0.00% 213.96% 80.21% 136.09% 73.44% 71.79% 52.07% 61.92% 65.86% 76.75%
Short-Term Debt to Total Capital		 0.00% 4.27% 3.00% 71.75% 22.70% 3.52% 3.29% 0.00% 6.67% 0.12%
Long-Term Debt to Total Capital		 0.00% 209.69% 77.21% 64.34% 50.73% 68.27% 48.78% 61.92% 59.18% 76.63%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 382.27% 19.79% 19.72% 11.76% 34.26% 4.81% 1.36% 1.33% 0.71%
Common Equity to Total Capital		 0.00% -496.23% 0.00% -55.82% 14.81% -6.04% 43.11% 36.72% 32.82% 22.54%
Debt to EBITDA		 0.00 -11.69 -6.79 -4.74 -13.07 -7.94 -2.16 -5.80 11.52 19.65
Net Debt to EBITDA		 0.00 -9.51 -3.49 -2.99 -3.06 -0.58 -0.06 -0.93 2.20 1.14
Long-Term Debt to EBITDA		 0.00 -11.46 -6.54 -2.24 -9.03 -7.55 -2.02 -5.80 10.35 19.62
Debt to NOPAT		 0.00 -8.54 -6.40 -3.88 -6.91 -6.57 -2.25 -5.79 70.39 51.37
Net Debt to NOPAT		 0.00 -6.95 -3.29 -2.45 -1.62 -0.48 -0.06 -0.92 13.43 2.98
Long-Term Debt to NOPAT		 0.00 -8.37 -6.16 -1.84 -4.78 -6.25 -2.11 -5.79 63.26 51.29
Altman Z-Score		 0.00 -2.59 0.85 -2.85 -0.32 -0.48 -0.64 -0.32 0.65 3.52
Noncontrolling Interest Sharing Ratio		 0.00% -335.45% -584.96% 1,888.95% -583.08% 90.10% 49.40% 6.30% 3.74% 3.42%
Liquidity Ratios		 - - - - - - - - - -
Current Ratio		 0.00 1.55 2.40 0.82 1.42 2.35 1.95 3.60 3.21 5.98
Quick Ratio		 0.00 0.61 1.49 0.43 0.80 1.43 1.11 2.14 1.79 4.53
Cash Flow Metrics		 - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 -374 -413 168 -58 -92 -328 -412 -129 -107
Operating Cash Flow to CapEx		 -3,149.86% -1,306.93% -203.40% 320.78% -260.59% -121.82% -164.11% -444.95% 156.51% 201.22%
Free Cash Flow to Firm to Interest Expense		 0.00 -3.45 -3.90 1.78 -0.63 -1.34 -5.25 -3.66 -1.43 -0.70
Operating Cash Flow to Interest Expense		 -3.48 -0.62 -0.87 1.74 -1.08 -0.88 -3.07 -3.31 1.02 0.75
Operating Cash Flow Less CapEx to Interest Expense		 -3.59 -0.67 -1.29 1.20 -1.49 -1.60 -4.94 -4.05 0.37 0.38
Efficiency Ratios		 - - - - - - - - - -
Asset Turnover		 0.00 0.31 0.48 0.58 0.57 0.61 0.65 0.61 0.58 0.57
Accounts Receivable Turnover		 0.00 12.40 10.98 12.80 11.85 10.57 7.08 4.51 4.36 5.72
Inventory Turnover		 0.00 4.37 4.73 5.68 4.99 5.43 5.10 2.95 2.04 2.42
Fixed Asset Turnover		 0.00 0.76 1.29 1.44 0.00 0.00 0.00 2.44 3.29 5.05
Accounts Payable Turnover		 0.00 8.11 9.13 11.23 11.03 11.80 8.95 7.73 9.51 9.71
Days Sales Outstanding (DSO)		 0.00 29.43 33.23 28.52 30.79 34.54 51.56 80.99 83.78 63.81
Days Inventory Outstanding (DIO)		 0.00 83.61 77.15 64.25 73.08 67.25 71.51 123.88 178.74 150.91
Days Payable Outstanding (DPO)		 0.00 45.00 40.00 32.51 33.08 30.94 40.77 47.22 38.37 37.58
Cash Conversion Cycle (CCC)		 0.00 68.04 70.39 60.27 70.80 70.85 82.31 157.65 224.15 177.14
Capital & Investment Metrics		 - - - - - - - - - -
Invested Capital		 0.00 264 562 231 233 245 390 656 801 959
Invested Capital Turnover		 0.00 2.85 1.53 1.98 3.42 4.07 3.77 2.55 2.02 2.30
Increase / (Decrease) in Invested Capital		 0.00 264 298 -331 1.44 12 145 266 145 158
Enterprise Value (EV)		 0.00 2,714 1,654 1,373 4,917 4,137 3,781 3,470 5,315 20,727
Market Capitalization		 270 270 1,092 882 4,763 3,848 3,732 3,316 5,077 20,550
Book Value per Share		 $0.00 ($212.72) $0.00 ($2.20) $0.47 ($0.25) $1.75 $2.24 $2.46 $3.25
Tangible Book Value per Share		 $0.00 ($212.72) $0.00 ($2.20) $0.47 ($0.25) $1.75 $2.24 $2.46 $3.25
Total Capital		 0.00 439 921 465 532 734 790 1,367 1,714 3,411
Total Debt		 0.00 940 739 633 391 527 412 847 1,129 2,618
Total Long-Term Debt		 0.00 921 711 299 270 501 386 847 1,014 2,614
Net Debt		 0.00 765 380 399 91 38 12 135 215 152
Capital Expenditures (CapEx)		 8.98 5.14 45 51 38 50 117 84 59 57
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 0.00 -7.59 61 -1.18 3.66 1.20 140 511 608 655
Debt-free Net Working Capital (DFNWC)		 0.00 167 421 232 303 490 540 1,223 1,522 3,111
Net Working Capital (NWC)		 0.00 149 393 -101 182 464 514 1,223 1,407 3,107
Net Nonoperating Expense (NNE)		 168 171 176 161 123 113 132 162 43 138
Net Nonoperating Obligations (NNO)		 0.00 765 380 399 91 38 12 135 215 166
Total Depreciation and Amortization (D&A)		 75 92 79 101 59 57 65 67 60 59
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% -2.02% 9.68% -0.15% 0.46% 0.12% 11.68% 38.35% 41.27% 32.35%
Debt-free Net Working Capital to Revenue		 0.00% 44.53% 66.48% 29.60% 38.16% 50.38% 45.04% 91.70% 103.25% 153.70%
Net Working Capital to Revenue		 0.00% 39.55% 62.11% -12.90% 22.94% 47.72% 42.87% 91.70% 95.49% 153.50%
Earnings Adjustments		 - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.00 $0.00 $0.00 ($1.14) ($0.95) ($1.62) ($1.42) ($0.13) ($0.37)
Adjusted Weighted Average Basic Shares Outstanding		 0.00 0.00 0.00 0.00 171.83M 173.44M 185.91M 212.68M 227.37M 240.40M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 ($1.14) ($0.95) ($1.62) ($1.42) ($0.13) ($0.37)
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 0.00 0.00 0.00 171.83M 173.44M 185.91M 212.68M 227.37M 240.40M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 ($1.14) $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 0.00 0.00 0.00 138.72M 177.12M 206.10M 224.97M 230.40M 280.55M
Normalized Net Operating Profit after Tax (NOPAT)		 -169 -110 -116 -163 -57 -80 -183 -146 16 51
Normalized NOPAT Margin		 -80.89% -29.28% -18.26% -20.75% -7.12% -8.24% -15.24% -10.97% 1.09% 2.52%
Pre Tax Income Margin		 -160.92% -74.64% -45.80% -41.12% -22.52% -19.78% -26.18% -22.95% -1.79% -4.17%
Debt Service Ratios		 - - - - - - - - - -
EBIT to Interest Expense		 -3.14 -1.59 -1.78 -2.49 -0.97 -1.79 -4.09 -1.89 0.42 0.49
NOPAT to Interest Expense		 -2.08 -1.01 -1.09 -1.73 -0.62 -1.16 -2.93 -1.30 0.18 0.33
EBIT Less CapEx to Interest Expense		 -3.25 -1.64 -2.20 -3.03 -1.38 -2.51 -5.96 -2.64 -0.23 0.12
NOPAT Less CapEx to Interest Expense		 -2.19 -1.06 -1.52 -2.27 -1.03 -1.88 -4.80 -2.04 -0.48 -0.04
Payout Ratios		 - - - - - - - - - -
Dividend Payout Ratio		 -13.63% -8.41% -5.24% -3.88% -4.26% -3.02% -2.18% -0.74% -5.40% -1.09%
Augmented Payout Ratio		 -13.63% -8.80% -7.13% -21.33% -4.26% -3.02% -6.55% -0.88% -5.40% -1.09%

Quarterly Metrics And Ratios for Bloom Energy

This table displays calculated financial ratios and metrics derived from Bloom Energy's official financial filings.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 - - - - - - - - - - 280,548,215.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - - 280,548,215.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - - 0.25
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 36.95% -22.84% -14.50% 11.52% -17.46% 60.37% 38.56% 19.50% 57.10% 35.87% 130.37%
EBITDA Growth		 -180.05% 237.40% 21.81% 75.67% 112.19% 386.88% 90.90% 246.25% 90.03% -22.62% 3,022.13%
EBIT Growth		 -119.28% 137.28% 22.92% 57.10% 96.00% 771.38% 65.77% 95.79% 244.05% -25.80% 562.14%
NOPAT Growth		 -97.19% 138.06% 23.03% 57.53% 90.69% 865.20% 61.10% 84.85% 181.30% -49.69% 637.54%
Net Income Growth		 -178.31% 108.11% 24.53% 11.40% 91.29% 2,454.21% 58.59% 31.04% -56.92% -98.64% 414.73%
EPS Growth		 -158.06% 125.00% 28.57% 15.63% 92.50% 800.00% 60.00% 33.33% -66.67% 65.44% 330.00%
Operating Cash Flow Growth		 -90.41% 623.56% 53.21% -277.53% 47.83% 297.45% 24.84% -21.43% 128.31% -13.66% 166.51%
Free Cash Flow Firm Growth		 -477.79% -46.72% -74.19% -86.79% 29.56% 84.17% 47.87% 56.37% 59.65% -161.98% 81.92%
Invested Capital Growth		 107.47% 68.01% 64.29% 96.47% 42.43% 22.05% 20.99% 21.90% 12.79% 19.75% 11.10%
Revenue Q/Q Growth		 32.94% -10.83% -34.07% 42.70% -1.60% 73.24% -43.04% 23.07% 29.36% 49.83% -3.42%
EBITDA Q/Q Growth		 -136.33% 130.44% -232.62% 74.50% 218.44% 1,115.41% -102.48% 509.82% 53.90% 394.91% -6.38%
EBIT Q/Q Growth		 -86.84% 112.69% -473.99% 51.63% 82.58% 2,864.82% -114.69% 94.06% 696.56% 1,324.11% -8.49%
NOPAT Q/Q Growth		 -90.44% 114.89% -417.44% 52.82% 58.27% 1,644.27% -112.80% 81.63% 323.98% 855.68% 36.71%
Net Income Q/Q Growth		 -143.38% 102.45% -1,473.40% -8.21% 76.09% 818.68% -122.27% -80.20% 45.58% 106.21% 5,067.67%
EPS Q/Q Growth		 -150.00% 106.25% -600.00% -8.00% 77.78% 850.00% -122.22% -80.00% -55,455.56% 199.91% -99.77%
Operating Cash Flow Q/Q Growth		 -186.48% 191.49% -220.88% -19.17% 60.42% 797.04% -122.86% -92.54% 109.23% 2,025.54% -82.39%
Free Cash Flow Firm Q/Q Growth		 -75.20% 44.59% -31.74% -46.05% 33.93% 87.55% -333.83% -22.24% 38.91% 19.14% 70.06%
Invested Capital Q/Q Growth		 52.11% -12.22% 17.36% 25.37% 10.27% -24.78% 16.34% 26.32% 2.03% -20.13% 7.93%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 -1.30% 25.89% 16.18% 20.41% 23.83% 38.32% 27.21% 26.70% 29.22% 30.85% 30.03%
EBITDA Margin		 -22.30% 7.61% -15.32% -2.74% 3.29% 23.12% -1.01% 3.35% 3.99% 13.16% 12.76%
Operating Margin		 -25.91% 3.62% -20.83% -6.89% -2.92% 18.29% -5.85% -0.87% 1.51% 11.26% 9.61%
EBIT Margin		 -26.33% 3.75% -21.26% -7.21% -1.28% 20.36% -5.25% -0.25% 1.17% 11.12% 10.54%
Profit (Net Income) Margin		 -41.99% 1.15% -24.03% -18.22% -4.43% 18.37% -7.18% -10.52% -4.42% 0.18% 9.81%
Tax Burden Percent		 100.39% 83.54% 99.12% 101.42% 100.75% 99.64% 101.88% 102.47% 101.49% 59.97% 99.40%
Interest Burden Percent		 158.86% 36.84% 114.02% 249.28% 344.47% 90.54% 134.21% 4,044.70% -372.53% 2.75% 93.68%
Effective Tax Rate		 0.00% 16.46% 0.00% 0.00% 0.00% 0.36% 0.00% 0.00% 0.00% 40.03% 0.60%
Return on Invested Capital (ROIC)		 -47.14% 7.72% -30.47% -8.80% -2.84% 36.89% -7.53% -0.93% 1.70% 15.53% 23.80%
ROIC Less NNEP Spread (ROIC-NNEP)		 -147.03% -1.40% -44.57% -22.36% -4.69% 37.36% -10.83% -8.32% -3.33% -11.27% 24.73%
Return on Net Nonoperating Assets (RNNOA)		 -30.68% -0.23% -15.22% -18.71% -4.16% 11.84% -6.06% -8.39% -3.33% -3.12% 6.65%
Return on Equity (ROE)		 -77.83% 7.49% -45.69% -27.51% -7.00% 48.73% -13.59% -9.33% -1.63% 12.41% 30.45%
Cash Return on Invested Capital (CROIC)		 -103.08% -78.71% -70.62% -80.74% -40.33% -17.66% -14.22% -13.46% -4.99% -12.18% 2.56%
Operating Return on Assets (OROA)		 -17.72% 2.29% -12.28% -3.63% -0.64% 11.84% -3.36% -0.16% 0.81% 6.38% 7.10%
Return on Assets (ROA)		 -28.25% 0.71% -13.88% -9.19% -2.24% 10.68% -4.59% -6.75% -3.07% 0.11% 6.61%
Return on Common Equity (ROCE)		 -56.03% 7.02% -42.84% -25.36% -6.69% 46.91% -13.02% -8.90% -1.56% 11.99% 29.47%
Return on Equity Simple (ROE_SIMPLE)		 -74.56% 0.00% -62.12% -66.55% -29.76% 0.00% 1.02% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -73 11 -34 -16 -6.76 104 -13 -2.45 5.49 52 72
NOPAT Margin		 -18.14% 3.03% -14.58% -4.82% -2.04% 18.23% -4.09% -0.61% 1.06% 6.75% 9.55%
Net Nonoperating Expense Percent (NNEP)		 99.88% 9.12% 14.10% 13.56% 1.85% -0.47% 3.30% 7.39% 5.03% 26.80% -0.93%
Return On Investment Capital (ROIC_SIMPLE)		 - 0.79% - - - 6.09% -0.77% -0.14% 0.30% 1.54% 2.02%
Cost of Revenue to Revenue		 101.30% 74.11% 83.82% 79.59% 76.17% 61.68% 72.79% 73.30% 70.78% 69.15% 69.97%
SG&A Expenses to Revenue		 10.83% 8.37% 16.15% 10.84% 11.32% 9.31% 13.77% 11.41% 10.23% 7.02% 7.73%
R&D to Revenue		 8.78% 9.40% 15.08% 11.13% 10.99% 6.89% 12.46% 10.16% 9.39% 7.19% 7.57%
Operating Expenses to Revenue		 24.61% 22.26% 37.01% 27.30% 26.75% 20.02% 33.06% 27.57% 27.71% 19.59% 20.42%
Earnings before Interest and Taxes (EBIT)		 -105 13 -50 -24 -4.22 117 -17 -1.02 6.07 86 79
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -89 27 -36 -9.19 11 132 -3.28 13 21 102 96
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 5.71 6.60 5.40 6.57 5.58 9.03 7.83 9.34 30.30 26.74 41.25
Price to Tangible Book Value (P/TBV)		 5.71 6.60 5.40 6.57 5.58 9.03 7.83 9.34 30.30 26.74 41.25
Price to Revenue (P/Rev)		 1.93 2.49 1.95 2.09 1.91 3.44 2.90 3.41 10.88 10.15 15.52
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 6,300.59
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.02%
Enterprise Value to Invested Capital (EV/IC)		 4.07 5.29 3.67 3.44 2.85 6.64 5.24 5.22 16.94 21.62 36.85
Enterprise Value to Revenue (EV/Rev)		 2.11 2.60 2.18 2.50 2.41 3.61 3.12 3.76 11.18 10.24 15.57
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 54.25 37.35 40.02 124.64 155.57 164.08
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 139.42 68.75 65.14 194.62 278.52 223.37
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 331.42 120.09 91.26 255.52 406.71 296.51
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 57.77 37.97 67.46 112.92 181.89 127.83
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1,513.21
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 1.67 1.63 1.73 2.52 2.48 1.93 1.88 1.83 1.67 3.30 2.75
Long-Term Debt to Equity		 1.67 1.63 1.73 2.52 2.23 1.73 1.69 1.82 1.67 3.30 2.74
Financial Leverage		 0.21 0.16 0.34 0.84 0.89 0.32 0.56 1.01 1.00 0.28 0.27
Leverage Ratio		 4.67 4.85 4.85 6.64 5.19 4.59 4.49 4.76 4.63 5.12 4.69
Compound Leverage Factor		 7.42 1.79 5.53 16.56 17.87 4.15 6.02 192.69 -17.25 0.14 4.40
Debt to Total Capital		 62.50% 61.92% 63.42% 71.59% 71.25% 65.86% 65.28% 64.65% 62.57% 76.75% 73.30%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 7.21% 6.67% 6.62% 0.21% 0.08% 0.12% 0.11%
Long-Term Debt to Total Capital		 62.50% 61.92% 63.42% 71.59% 64.03% 59.18% 58.66% 64.44% 62.49% 76.63% 73.19%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 1.38% 1.36% 1.72% 1.48% 1.52% 1.33% 1.34% 1.42% 1.35% 0.71% 0.75%
Common Equity to Total Capital		 36.12% 36.72% 34.86% 26.93% 27.23% 32.82% 33.38% 33.93% 36.09% 22.54% 25.95%
Debt to EBITDA		 -4.36 -5.80 -6.24 -10.49 -157.24 11.52 8.65 7.39 6.94 19.65 11.20
Net Debt to EBITDA		 -1.25 -0.93 -2.06 -4.83 -84.97 2.20 2.52 3.63 3.20 1.14 0.37
Long-Term Debt to EBITDA		 -4.36 -5.80 -6.24 -10.49 -141.32 10.35 7.77 7.36 6.93 19.62 11.18
Debt to NOPAT		 -4.58 -5.79 -6.24 -9.87 -23.39 70.39 27.81 16.85 14.23 51.37 20.24
Net Debt to NOPAT		 -1.32 -0.92 -2.06 -4.55 -12.64 13.43 8.11 8.28 6.57 2.98 0.67
Long-Term Debt to NOPAT		 -4.58 -5.79 -6.24 -9.87 -21.02 63.26 24.99 16.79 14.21 51.29 20.21
Altman Z-Score		 -0.31 -0.01 -0.43 -0.23 -0.39 0.75 0.48 0.93 5.36 3.53 6.36
Noncontrolling Interest Sharing Ratio		 28.01% 6.30% 6.24% 7.79% 4.44% 3.74% 4.24% 4.52% 4.28% 3.42% 3.21%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 3.64 3.60 4.45 4.65 3.36 3.21 3.44 4.99 4.40 5.98 5.03
Quick Ratio		 1.93 2.14 2.44 2.81 1.92 1.79 1.93 2.69 2.16 4.53 3.62
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -460 -255 -336 -490 -324 -40 -175 -214 -131 -106 -32
Operating Cash Flow to CapEx		 -623.54% 750.06% -687.26% -1,461.97% -486.55% 4,373.45% -778.57% -2,954.95% 159.90% 1,825.73% 282.13%
Free Cash Flow to Firm to Interest Expense		 -6.62 -17.49 -23.07 -11.51 -19.32 -2.53 -12.14 -4.57 -9.08 -1.37 -3.68
Operating Cash Flow to Interest Expense		 -1.92 8.37 -10.12 -4.12 -4.14 30.36 -7.68 -4.56 1.37 5.44 8.56
Operating Cash Flow Less CapEx to Interest Expense		 -2.22 7.25 -11.60 -4.41 -5.00 29.66 -8.67 -4.71 0.51 5.14 5.52
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.67 0.61 0.58 0.50 0.51 0.58 0.64 0.64 0.69 0.57 0.67
Accounts Receivable Turnover		 7.09 4.51 3.81 3.04 2.72 4.36 4.59 3.29 3.63 5.72 7.06
Inventory Turnover		 3.46 2.95 2.41 2.30 1.85 2.04 1.95 1.88 1.94 2.42 2.56
Fixed Asset Turnover		 2.53 2.44 2.35 2.41 2.58 3.29 3.47 3.63 4.11 5.05 6.07
Accounts Payable Turnover		 9.21 7.73 9.92 7.60 7.05 9.51 9.27 9.13 8.58 9.71 8.92
Days Sales Outstanding (DSO)		 51.45 80.99 95.68 120.23 134.19 83.78 79.60 110.96 100.59 63.81 51.67
Days Inventory Outstanding (DIO)		 105.62 123.88 151.66 159.01 197.29 178.74 187.36 194.39 187.98 150.91 142.32
Days Payable Outstanding (DPO)		 39.65 47.22 36.81 48.05 51.75 38.37 39.36 39.99 42.52 37.58 40.91
Cash Conversion Cycle (CCC)		 117.41 157.65 210.52 231.19 279.74 224.15 227.60 265.35 246.06 177.14 153.08
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 747 656 770 965 1,064 801 931 1,176 1,200 959 1,035
Invested Capital Turnover		 2.60 2.55 2.09 1.82 1.39 2.02 1.84 1.52 1.61 2.30 2.49
Increase / (Decrease) in Invested Capital		 387 266 301 474 317 145 162 211 136 158 103
Enterprise Value (EV)		 3,037 3,470 2,822 3,321 3,037 5,315 4,883 6,137 20,336 20,727 38,125
Market Capitalization		 2,777 3,316 2,518 2,779 2,404 5,077 4,530 5,555 19,789 20,550 38,011
Book Value per Share		 $2.32 $2.24 $2.07 $1.86 $1.89 $2.46 $2.51 $2.56 $2.79 $3.25 $3.28
Tangible Book Value per Share		 $2.32 $2.24 $2.07 $1.86 $1.89 $2.46 $2.51 $2.56 $2.79 $3.25 $3.28
Total Capital		 1,347 1,367 1,337 1,572 1,582 1,714 1,732 1,752 1,810 3,411 3,551
Total Debt		 842 847 848 1,125 1,127 1,129 1,131 1,133 1,132 2,618 2,603
Total Long-Term Debt		 842 847 848 1,125 1,013 1,014 1,016 1,129 1,131 2,614 2,599
Net Debt		 242 135 281 519 609 215 330 557 523 152 87
Capital Expenditures (CapEx)		 21 16 21 12 14 11 14 7.21 12 23 26
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 621 511 658 830 932 608 738 974 980 655 679
Debt-free Net Working Capital (DFNWC)		 1,221 1,223 1,225 1,437 1,450 1,522 1,539 1,550 1,583 3,111 3,172
Net Working Capital (NWC)		 1,221 1,223 1,225 1,437 1,336 1,407 1,424 1,546 1,582 3,107 3,168
Net Nonoperating Expense (NNE)		 95 6.69 22 45 7.88 -0.83 10 40 28 51 -1.93
Net Nonoperating Obligations (NNO)		 242 135 281 519 609 215 330 557 523 166 87
Total Depreciation and Amortization (D&A)		 16 14 14 15 15 16 14 14 15 16 17
Debt-free, Cash-free Net Working Capital to Revenue		 43.13% 38.35% 50.83% 62.46% 74.05% 41.27% 47.18% 59.74% 53.88% 32.35% 27.73%
Debt-free Net Working Capital to Revenue		 84.83% 91.70% 94.69% 108.15% 115.24% 103.25% 98.37% 95.07% 87.06% 153.70% 129.51%
Net Working Capital to Revenue		 84.83% 91.70% 94.69% 108.15% 106.17% 95.49% 91.04% 94.84% 86.98% 153.50% 129.35%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.80) $0.05 ($0.25) ($0.27) ($0.06) $0.45 ($0.10) ($0.18) ($100.00) $99.91 $0.25
Adjusted Weighted Average Basic Shares Outstanding		 210.93M 212.68M 225.59M 227.17M 227.96M 227.37M 230.21M 232.54M 234.93M 240.40M 281.72M
Adjusted Diluted Earnings per Share		 ($0.80) $0.05 ($0.25) ($0.27) ($0.06) $0.45 ($0.10) ($0.18) ($100.00) $99.91 $0.23
Adjusted Weighted Average Diluted Shares Outstanding		 210.93M 212.68M 225.59M 227.17M 227.96M 227.37M 230.21M 232.54M 234.93M 240.40M 319.71M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 224.05M 224.97M 227.02M 227.64M 228.58M 230.40M 232.23M 234.00M 236.51M 280.55M 284.44M
Normalized Net Operating Profit after Tax (NOPAT)		 -73 11 -34 -16 -6.76 104 -13 -2.45 5.49 52 72
Normalized NOPAT Margin		 -18.14% 3.03% -14.58% -4.82% -2.04% 18.23% -4.09% -0.61% 1.06% 6.75% 9.55%
Pre Tax Income Margin		 -41.83% 1.38% -24.24% -17.97% -4.40% 18.44% -7.05% -10.26% -4.36% 0.31% 9.87%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 -1.52 0.92 -3.44 -0.57 -0.25 7.31 -1.19 -0.02 0.42 1.12 9.20
NOPAT to Interest Expense		 -1.05 0.74 -2.36 -0.38 -0.40 6.54 -0.93 -0.05 0.38 0.68 8.34
EBIT Less CapEx to Interest Expense		 -1.83 -0.20 -4.91 -0.85 -1.10 6.61 -2.17 -0.18 -0.43 0.83 6.17
NOPAT Less CapEx to Interest Expense		 -1.35 -0.37 -3.83 -0.66 -1.25 5.85 -1.91 -0.21 -0.47 0.38 5.31
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 -0.87% -0.74% 0.00% -1.33% -1.14% -5.40% 0.00% 3.80% 5.71% -1.09% 0.00%
Augmented Payout Ratio		 -0.87% -0.88% 0.00% -1.33% -1.14% -5.40% 0.00% 3.80% 5.71% -1.09% 0.00%

Financials Breakdown Chart

Key Financial Trends

Bloom Energy (BE) has shown a notable shift in 2025, with accelerating revenue, improving gross profitability, and a turn to positive net income in the year’s fourth quarter. The company also benefited from a substantial financing event in Q4 2025, which boosted liquidity. Below are the key year-over-year and quarterly trends drawn from the last four years of Bloom Energy’s statements.

  • Significant 2025 revenue growth, led by a strong Q4. Operating revenue reached 777,683,000 in Q4 2025, up from 572,392,000 in Q4 2024, signaling a solid top-line acceleration into late 2025.
  • Gross profit improves along with revenue. Q4 2025 gross profit was 239,895,000, with Total Gross Profit margin around 30%, supported by quarterly gains: 151,675,000 in Q3 2025 and 107,123,000 in Q2 2025.
  • Operating income turns positive in Q4 2025. Total Operating Income was 87,529,000 in Q4 2025, after smaller positive reads in Q3 2025 (7,846,000) and negative reads in earlier quarters of 2025.
  • Net income attributable to common shareholders shows an inflection to profitability in Q4 2025. Net income to common shareholders rose to 1,092,000 in Q4 2025, reversing prior quarterly losses of -23.9M (Q1 2025), -23.1M (Q3 2025), and -42.6M (Q2 2025).
  • Strong operating cash generation in Q4 2025. Net cash from continuing operating activities was 439,919,000, and Net cash from operating activities was 418,073,000 in Q4 2025, indicating improving cash generation as profitability improves.
  • Large debt financing activity boosts liquidity in Q4 2025. Issuance of debt was 2,500,000,000, contributing to a net cash from continuing financing activities of 1,470,916,000 and a total net cash from financing activities of 1,470,916,000.
  • Significant year-end liquidity surge reflected in the cash balance. Net change in cash and equivalents for Q4 2025 was +1,853,188,000, driven largely by the debt issuance and financing inflows.
  • Expense levels remain elevated relative to gross profit. Selling, general & administrative expense (SG&A) and research & development (R&D) expense stay substantial across 2024–2025, contributing to ongoing profitability challenges despite top-line gains (e.g., SG&A around 53–54M and RD around 55–56M in several 2025 quarters).
  • Revenue growth is accompanied by ongoing leverage on debt to fund operations and growth. Bloom Energy accessed meaningful debt financing in recent quarters (e.g., 2.5B debt issuance in Q4 2025), which improves liquidity but increases leverage risk and interest obligations over time.
  • Multiple quarters show net losses before Q4 2025 recovery. Net income to common shareholders remained negative in Q1 2025 (-23.8M), Q2 2025 (-42.6M), and Q3 2025 (-23.1M), underscoring ongoing profitability headwinds prior to the Q4 inflection.
  • Negative or challenging operating cash flow in several earlier quarters. Net cash from continuing operating activities was negative in Q2 2025 (-213,111,000) and Q3 2025 (-2,177,000), highlighting periods of cash burn despite revenue growth.
  • Debt load remains material, adding interest and principal repayment risk. Long-term debt sits around the 1.1B level in mid-2025 quarters, contributing to sizable interest expense in some periods (e.g., 76.9M in Q4 2025).

Overall, Bloom Energy appears to be approaching a potential earnings inflection in late 2025, with a wrap-up of higher revenue, improving gross margins, a positive quarterly net income reading, and a large liquidity infusion from financing activity. However, the company also faces elevated operating expenses and a meaningful debt burden, which have weighed on profitability in earlier 2025 quarters. Retail investors may view the Q4 2025 results as a potential turning point, but the ongoing ability to sustain profitability will depend on continued revenue momentum, expense management, and debt servicing terms.

05/11/26 09:22 AM ETAI Generated. May Contain Errors.

Bloom Energy Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Bloom Energy's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Bloom Energy's net income appears to be on a downward trend, with a most recent value of -$87.14 million in 2025, falling from -$336.32 million in 2016. The previous period was -$27.20 million in 2024. Check out Bloom Energy's forecast to explore projected trends and price targets.

Bloom Energy's total operating income in 2025 was $72.80 million, based on the following breakdown:
  • Total Gross Profit: $587.40 million
  • Total Operating Expenses: $514.60 million

Over the last 9 years, Bloom Energy's total revenue changed from $208.54 million in 2016 to $2.02 billion in 2025, a change of 870.6%.

Bloom Energy's total liabilities were at $3.60 billion at the end of 2025, a 73.9% increase from 2024, and a 109.3% increase since 2017.

In the past 8 years, Bloom Energy's cash and equivalents has ranged from $103.83 million in 2017 to $2.45 billion in 2025, and is currently $2.45 billion as of their latest financial filing in 2025.

Over the last 9 years, Bloom Energy's book value per share changed from 0.00 in 2016 to 3.25 in 2025, a change of 325.0%.


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Financial statements for NYSE:BE last updated on 5/3/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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