Bloom Energy BE

Fuel cell power. Bloom Energy Corporation, listed on NYSE.

Based on the FY2025 annual report (Jan 2025 – Dec 2025)

Bloom Energy's market cap is
about $49.51 billion.

#218 by market cap among 289 companies, based on the Nov 5, 2026 close. FY2025 revenue was $2.001614B.

Share price (close): $167.52; Close on Nov 5, 2026 · per share
P/E ratio: —; Net loss, or no EPS reported
Market cap: $49.51B; #218 of 289
Revenue: $2.001614B; #295 of 299 · +38.9% YoY
Operating income: $72.802M; #215 of 231 · +217.8% YoY
Net income: −$87.14M; #284 of 298 · −220.3% YoY
Free cash flow: $57.19M; #239 of 261 · +72.5% YoY
Total assets: $4.396711B; #293 of 299 · +65.5% YoY
Dividends paid: $947,000; #212 of 214 · −35.5% YoY
Dividend per share: —; Not reported
Dividend yield: —; No dividend, or a different currency
Shares outstanding: 240,402,000 shares; As of Dec 31, 2025

Where the revenue went

Revenue is set at 100% and split into what went to costs, R&D, operating expenses and taxes, and what was left as profit.

Cost of revenue0.9%
R&D9.3%
SG&A and other86.2%
Taxes, interest & other8.0%
Loss4.4%

Profitability and stability

Each figure comes with its rank among 300 companies. The further right the dot, the higher the rank.

Revenue growthHow much revenue grew from the previous fiscal year: +38.9%; #15 of 299; Revenue grew sharply over the year. The median across 299 companies is +7.9%.
Operating marginShare of revenue kept as profit from the core business: 3.6%; #207 of 231; 3.6% of revenue was kept as operating profit, which is on the low side. The median across 231 companies is 19.2%.
Net marginShare of revenue left as profit after interest and taxes: −4.3%; #289 of 298; The company lost the equivalent of 4.3% of revenue. The median across 298 companies is 14.0%.
FCF marginShare of revenue left as cash after capital spending: 2.9%; #227 of 261; Little cash is left after capital spending. The median across 261 companies is 15.8%.
ROEHow much profit the company earned on shareholders' equity in a year: −13.1%; #268 of 276; ROE is negative because of a net loss. The median across 276 companies is 16.8%.
Debt-to-equityLiabilities relative to equity. Lower means less debt: 468.9%; #218 of 244; Liabilities are more than twice equity. The median across 244 companies is 159.6%.

Revenue and profit over time

Gray bars show revenue and the green part inside shows net income. The number above each bar is revenue (abbreviated) and the number below is net margin. Hover over a bar to see the exact amounts.

Currency: US dollars. Years are the years in which each fiscal year ended.

Where the cash went

Unlike profit, cash flow is money that actually came in and went out.

Cash from operations$113.949M
Capital spending−$56.759M
Free cash flow (FCF)$57.19M
Dividends paid−$947,000

Whose money funds the assets

The company's assets, split into borrowed money (liabilities) and shareholders' money (equity).

Liabilities 82%Equity 17%

Total assets$4.396711B
Total liabilities$3.603748B
Total equity$768.641M
Cash and equivalents$2.454108B

Compared with similar companies

Based on each company's latest annual report, so fiscal year ends may differ.

Compare in detail

Company	Annual revenue	Net income	Revenue growth	Operating margin	Net margin
Bloom EnergyBE	$2.001614B	−$87.14M	+38.9%	3.6%	−4.3%
AMETEKAME	$7.401116B	$1.480142B	+6.6%	25.8%	20.0%
Rockwell AutomationROK	$8.342B	$869M	+0.9%	20.4%	10.4%
VertivVRT	$10.2299B	$1.3328B	+27.7%	17.9%	13.0%
GE VernovaGEV	$38.068B	$4.884B	+9.0%	3.6%	12.8%

What the company does

Bloom Energy sells solid oxide fuel cell systems that generate electricity on site. Data center power demand has drawn attention to the company.

The fiscal year ends around December each year.

Related companies: AMETEK, Rockwell Automation, Vertiv, GE Vernova

Financial statements

Last 5 fiscal years. Currency: US dollars.

Show the table

Item	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	972.176M	1.199125B	1.33347B	1.441394B	2.001614B
Cost of revenue	774.595M	12.1M	25.9M	21.2M	18M
Gross profit	197.581M	148.288M	197.794M	404.648M	587.4M
R&D expense	103.396M	150.606M	155.865M	148.629M	185.993M
Operating income	−114.502M	−260.992M	−208.907M	22.909M	72.802M
Pretax income	−192.323M	−313.989M	−306.043M	−26.357M	−84.404M
Net income	−193.369M	−315.086M	−307.937M	−27.203M	−87.14M
EPS (diluted)	$-0.95	$-1.62	$-1.42	$-0.13	$-0.37
Operating cash flow	−60.681M	−191.723M	−372.531M	91.998M	113.949M
Capital expenditures	49.81M	116.823M	83.739M	58.852M	56.759M
Free cash flow (FCF)	−110.491M	−308.546M	−456.27M	33.146M	57.19M
Dividends paid	—	0	0	1.468M	947,000
Total assets	1.725571B	1.946627B	2.413677B	2.657354B	4.396711B
Total liabilities	1.518547B	1.567811B	1.893007B	2.072138B	3.603748B
Total equity	−1.827M	378.816M	520.67M	562.471M	768.641M
Cash and equivalents	615.114M	518.366M	745.178M	802.851M	2.454108B
Original filing	10-K	10-K	10-K	10-K	10-K

Source: SEC EDGAR filings for Bloom Energy Corporation · CIK 0001664703 · US-GAAP