BENYSEElectrical Industrial ApparatusFiscal year ends December 31
Bloom Energy Corp
Financials through Q1 FY2026, quarter ended Mar 31, 2026Last filing: 10-Q/A on Jul 29, 2026
$226.22+4.91 (+2.22%)
Close on Oct 19, 2026
- Market cap
- $72.32B
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2015 to 2025
Gross margin
29.0%+8.1 pts over 5 years
Operating margin
3.6%+13.8 pts over 5 years
Net margin
–
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +37.3% | +19.1% | +20.6% | – | |
| Gross profit | +45.2% | +58.2% | +28.8% | – | |
| Operating income | +217.8% | – | – | – | |
| Free cash flow | +72.5% | – | – | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | 174.3% | – | |
| Return on assets | – | -11.3% | – | |
| Current ratio | – | 1.42 | 5.98 | |
| Debt to equity | – | 4.96 | 3.41 | |
| Interest coverage | -3.0× | -1.0× | 1.4× | |
| Inventory turnover | – | 5.0× | 2.4× | |
| Capex to revenue | 4.3% | 4.8% | 2.8% | |
| Diluted shares | 10M | 139M | 240M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Bloom Energy generated $830.88M from operations and spent $368.40M on capital expenditure, dividends and share buybacks. 99% of that went back into the business.
Generated
$830.88M
Used
$368.40M
Capital expenditure$365.98M99%Dividends$2.42M1%Share buybacks$00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-22.7%
×Asset turnover0.61×
×Equity multiplier5.17×
=Return on equity, FY2023-71.7%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2023 | -22.7% | 0.61× | 5.17× | -71.7% |
| FY2022 | -25.2% | 0.65× | 12.39× | -203.5% |
| FY2021 | -16.9% | 0.61× | 92.18× | -953.4% |
| FY2020 | -19.8% | 0.57× | -15.36× | 174.3% |
| FY2019 | -38.8% | 0.55× | -7.07× | 151.4% |
| FY2018 | -43.2% | 0.46× | -1.18× | 23.6% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
4of 6 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero–
- Cash generatingOperating cash flow above zero$113.95M
- Return on assets improvedROA up on the prior year– → –
- Earnings backed by cashOperating cash flow above net income$113.95M vs –
- Less leverageLong-term debt to assets fell38.2% → 59.4%
- Better liquidityCurrent ratio rose3.21 → 5.98
- No dilutionShare count did not rise227M → 240M
- Gross margin improvedGross margin up on the prior year27.46% → 29.02%
- More efficientAsset turnover rose0.61 → 0.76