Bloom Energy Corporation Class A Common Stock (BE)

FairStock Score: 35/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

As a value investor, I start with the business. Bloom Energy designs and installs solid oxide fuel cells for on-site power, using natural gas, biogas, or hydrogen. That is a real product with an installed base, but it is capital-intensive and competitive, so I am not convinced it has a durable moat yet. The financials show a sharp improvement: in fiscal Q1 2026, the quarter ended 2026-03-31, revenue was $746.4M and net income was $73.7M, or diluted EPS $0.23, versus fiscal Q1 2025 revenue of $319.3M and a net loss of $23.4M. For fiscal year 2025, revenue was $2.0B, up from $1.4B in fiscal year 2024, but the net loss widened to $87.1M from $27.2M, so the annual picture is not yet consistently profitable. FairStock calculations at the 2026-10-13 close of $263.45 show a market cap of $74.9B, a P/E of 342.14, P/B of 47.90, EV/EBITDA of 214.66, and a Graham Number of $9.76 with a margin of safety of -2599.28%. Those are extreme valuations. The balance sheet has D/E of 1.72, ROCE of 5.60%, and FCF yield of just 0.8%, though the Piotroski F-Score of 7/9 and Altman Z-Score of 11.38 suggest some financial resilience. FairStock's Lynch category is none, because it lost money in each of the last four years. I would want to see several years of positive free cash flow and profits before treating this as a value investment. The price already assumes a lot.

In plain English: Bloom Energy makes solid oxide fuel cell systems that generate electricity on-site for customers. The business is showing a sharp turn: revenue has jumped and recent quarters produced positive net income, but it lost money in each of the last four years. At the 2026-10-13 close of $263.45, the price looks very expensive compared with the company's profits and accounting value, so the market is already pricing in a lot of future success.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · fiscal Q1 2025 10-Q (period ended 2025-03-31) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer