BE · Bloom Energy Corp - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $2.02B | $1.47B | $1.33B | $1.20B | $972.18M | $794.25M |
| Cost of Revenue | $1.44B | $1.07B | $1.14B | $1.05B | $774.60M | $628.45M |
| Gross Profit | $587.40M | $404.65M | $197.79M | $148.29M | $197.58M | $165.79M |
| R&D | $185.99M | $148.63M | $155.87M | $150.61M | $103.40M | $83.58M |
| SG&A | $198.38M | $165.10M | $160.88M | $167.74M | $122.19M | $107.08M |
| Total Operating Expenses | $514.60M | $381.74M | $406.70M | $409.28M | $312.08M | $246.58M |
| D&A | $50.57M | $53.05M | $62.61M | $61.61M | $53.45M | $52.28M |
| Operating Income | $72.80M | $22.91M | ($208.91M) | ($260.99M) | ($114.50M) | ($80.78M) |
| Interest Expense | $37.20M | $62.60M | $108.30M | $53.50M | $69.00M | $78.80M |
| Income Tax | $2.74M | $846.0K | $1.89M | $1.10M | $1.05M | $256.0K |
| Net Income | ($87.14M) | ($27.20M) | ($302.12M) | ($301.71M) | ($164.44M) | ($157.55M) |
| EPS - Basic | ($0.37) | ($0.13) | ($1.42) | ($1.62) | ($1.14) | - |
| EPS - Diluted | ($0.37) | ($0.13) | ($1.42) | ($1.62) | ($1.14) | - |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $2.45B | $802.85M | $664.59M | $348.50M | $396.04M | $246.95M |
| Accounts Receivable | $371.80M | $335.84M | $340.74M | $251.00M | $87.79M | $99.51M |
| Inventory | $643.31M | $544.66M | $502.51M | $268.39M | $143.37M | $142.06M |
| Accounts Payable | $203.13M | $92.70M | $132.08M | $161.77M | $72.97M | $58.33M |
| Current Assets | $3.73B | $2.04B | $1.69B | $1.06B | $806.42M | $618.60M |
| Total Assets | $4.40B | $2.66B | $2.41B | $1.95B | $1.73B | $1.35B |
| Current Liabilities | $623.83M | $636.76M | $470.42M | $541.95M | $342.48M | $578.18M |
| Long-term Debt | $2.61B | $1.01B | $846.63M | $385.56M | $500.90M | $270.05M |
| Total Liabilities | $3.60B | $2.07B | $1.89B | $1.57B | $1.52B | $1.31B |
| Stockholders' Equity | $768.64M | $562.47M | $502.08M | $340.78M | ($44.33M) | $78.82M |
| Retained Earnings | ($3.99B) | ($3.90B) | ($3.87B) | ($3.56B) | ($3.26B) | ($3.10B) |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $113.95M | $92.00M | ($372.53M) | ($191.72M) | ($60.68M) | ($98.80M) |
| Investing Cash Flow | ($93.12M) | ($58.78M) | ($83.72M) | ($116.82M) | ($46.70M) | ($37.91M) |
| Financing Cash Flow | $1.51B | $175.21M | $683.35M | $211.36M | $306.38M | $176.03M |
| CapEx | $56.76M | $58.85M | $83.74M | $116.82M | $49.81M | $37.91M |
| Free Cash Flow | $57.19M | $33.15M | ($456.27M) | ($308.55M) | ($110.49M) | ($136.71M) |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 29.0% | 27.5% | 14.8% | 12.4% | 20.3% | 20.9% |
| Operating margin | 3.6% | 1.6% | -15.7% | -21.8% | -11.8% | -10.2% |
| EBITDA margin | 6.1% | 5.2% | -11.0% | -16.6% | -6.3% | -3.6% |
| Net margin | -4.3% | -1.8% | -22.7% | -25.2% | -16.9% | -19.8% |
| Free cash flow margin | 2.8% | 2.2% | -34.2% | -25.7% | -11.4% | -17.2% |
| FCF / Net income | -0.66 | -1.22 | 1.51 | 1.02 | 0.67 | 0.87 |
| R&D / Revenue | 9.2% | 10.1% | 11.7% | 12.6% | 10.6% | 10.5% |
| SG&A / Revenue | 9.8% | 11.2% | 12.1% | 14.0% | 12.6% | 13.5% |
| Effective tax rate | - | - | - | - | - | - |
| Return on assets | -2.0% | -1.0% | -12.5% | -15.5% | -9.5% | -11.7% |
| Return on equity | -11.3% | -4.8% | -60.2% | -88.5% | 371.0% | -199.9% |
| Return on invested capital | 1.7% | 1.1% | -12.2% | -28.4% | -19.8% | -18.3% |
| Liquidity | ||||||
| Current ratio | 5.98 | 3.21 | 3.60 | 1.95 | 2.35 | 1.07 |
| Quick ratio | 4.95 | 2.35 | 2.53 | 1.45 | 1.94 | 0.82 |
| Cash ratio | 3.93 | 1.26 | 1.41 | 0.64 | 1.16 | 0.43 |
| Leverage | ||||||
| Debt / Equity | 3.40 | 1.80 | 1.69 | 1.13 | -11.30 | 3.43 |
| Debt / Assets | 0.59 | 0.38 | 0.35 | 0.20 | 0.29 | 0.20 |
| Debt / EBITDA | 21.19 | 13.36 | - | - | - | - |
| Interest coverage | 2.0x | 0.4x | -1.9x | -4.9x | -1.7x | -1.0x |
| Equity multiplier | 5.72 | 4.72 | 4.81 | 5.71 | -38.93 | 17.14 |
| Liabilities / Assets | 0.82 | 0.78 | 0.78 | 0.81 | 0.88 | 0.97 |
| Efficiency | ||||||
| Asset turnover | 0.46 | 0.55 | 0.55 | 0.62 | 0.56 | 0.59 |
| Inventory turnover | 2.23 | 1.96 | 2.26 | 3.92 | 5.40 | 4.42 |
| Days sales outstanding | 67d | 83d | 93d | 76d | 33d | 46d |
| Days inventory outstanding | 163d | 186d | 162d | 93d | 68d | 83d |
| Days payable outstanding | 52d | 32d | 42d | 56d | 34d | 34d |
| Cash conversion cycle | 179d | 237d | 212d | 113d | 66d | 94d |
| Valuation | ||||||
| P / E | - | - | - | - | - | - |
| P / B | 27.2x | 9.0x | 6.3x | 10.4x | - | - |
| P / S | 10.3x | 3.4x | 2.4x | 3.0x | 3.1x | - |
| EV / EBITDA | 170.6x | 69.3x | - | - | - | - |
| Growth | ||||||
| Revenue growth (YoY) | 37.3% | 10.5% | 11.2% | 23.3% | 22.4% | 1.2% |
| Revenue CAGR (3y) | 19.1% | 14.9% | 18.9% | 15.2% | 67.1% | - |
| Revenue CAGR (5y) | 20.6% | 13.4% | 44.9% | - | - | - |
| Gross profit growth (YoY) | 45.2% | 104.6% | 33.4% | -24.9% | 19.2% | 69.9% |
| Operating income growth (YoY) | 217.8% | - | 20.0% | -127.9% | -41.7% | 65.3% |
| Net income growth (YoY) | -220.3% | 91.0% | -0.1% | -83.5% | -4.4% | 48.2% |
| EPS growth (YoY) | -184.6% | 90.8% | 12.3% | -42.1% | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - |
| FCF growth (YoY) | 72.5% | - | -47.9% | -179.2% | 19.2% | - |
| FCF CAGR (5y) | - | -21.7% | - | - | - | - |
| Book value growth (YoY) | 36.7% | 12.0% | 47.3% | - | - | - |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Product / service
$2.02B totalProduct$1.53B · 75.7%
Service$228.29M · 11.3%
Installation$204.07M · 10.1%
Electricity$60.35M · 3.0%
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
0.34
Distress
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2025 · 9-point quality
4/9
Neutral
- ✗Net income positive
- ✓Operating cash flow positive
- ✗ROA improved YoY
- ✓Cash flow > net income
- ✗Long-term debt decreased
- ✓Current ratio improved
- ✗No share dilution
- ✓Gross margin improved
- ✗Asset turnover improved
Peer comparison
Same SIC group: Electrical Industrial Apparatus
Comparing Bloom Energy Corp against the 5 most active filers in the same SIC group.