| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 8 | 124.3x | 17.3x | Bottom tier | |
Growth | 78 | 111.5% | 7.1% | Top tier | |
Quality | 86 | 17.5% | 4.5% | Top tier | |
Safety | 75 | — | 2.6x | Top tier | |
Capital Return | 27 | 0.00% | 0.06% | Bottom tier | |
Momentum | 54 | 182.6% | -1.6% | Around median | |
Sentiment | 71 | 15 | 3 | Top tier |
The floor: what the company is worth if growth stopped today
92% of today's price is what a buyer pays for growth that has not happened yet.
10-year US Treasury yield 4.96% as of 2026-10-22. Estimates computed from company data and analyst targets, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Bloom Energy sells fuel cell systems that generate electricity at customer sites, serving data centers, hospitals, factories, telecommunications companies, universities, and retailers. Its business model allows customers to purchase equipment outright, contract for electricity or capacity, or lease equipment; in financed arrangements, a party such as Brookfield purchases energy systems from Bloom and owns them to meet the end user's needs. The customer appearing in the company's revenue and concentration disclosures may therefore be the financier, while the underlying demand comes from the data center operator, and system maintenance services remain an additional source of revenue.
In quarter 2 of fiscal year 2026 (ended 2026-06-30), revenue according to EL7 data was approximately $1.1 billion, net income was $196.3 million, and diluted earnings per share were $0.68. The gross margin for the same period was 33.4%, the operating margin calculated by EL7 was approximately 17.1%, and operating cash flow according to EL7 data was approximately $226.5 million. Activity was concentrated in products, which generated revenue of $935 million in the same quarter; under the adjusted metrics presented by management, the product gross margin was 37.2% and the services margin was 22%, highlighting the combined contribution of system sales and fleet maintenance to profitability.
Revenue for the trailing 12 months through 2026-06-30 was approximately $3.1 billion and net income was $248.4 million, compared with a net loss of $87.1 million in fiscal year 2025 (ended 2025-12-31). Bloom's story centers on the speed of providing power to AI data centers, but revenue realization also depends on customer site readiness and delivery schedules for large projects. A reliable year-over-year revenue growth comparison for quarter 2 of fiscal year 2026 is unavailable because the line item is defined differently across the two periods.
Q2 FY2026
Last 12 months to 2026-06-30
When: 2026-10-22
Update to the fiscal year 2026 revenue range of $3.9 billion to $4.2 billion
Operating margin calculated by EL7 relative to the 17.1% level
Update to the fiscal year 2026 adjusted operating income range of $800 million to $900 million
The median price target from 12 analysts was $303, within a range of $176 to $351 in the 2026-10-19 snapshot, a method that reflects growth expectations and is inherently inclined toward optimism. The discounted cash flow model estimated a value of $111, within a range of $95 to $132 and using a discount rate of 14.1%; it measures expected cash generation and is inherently conservative. The industry-multiple valuation was $76, within a range of $51 to $104, based on next year's earnings and a median multiple of 20.4 across 30 companies; this is an indicative value because confidence in it is low, and it measures the company as its peers are valued. The discounted cash flow and industry-multiple ranges partially overlap, while analyst targets sit above both, reflecting a greater weight on expected growth in the targets versus cash generation in the model and comparative pricing among peers.
Figures in the text are as of 2026-10-20; the live price is shown at the top of the page.
Management explained during the 2026-07-28 call that customers can purchase energy systems, contract for electricity or capacity, or lease equipment. When a customer chooses to pay over time, a financier such as Brookfield purchases and owns Bloom systems to serve the end user. The financier may therefore appear as the customer in disclosures, and Brookfield expanded its framework from $5 billion to $25 billion in June 2026 to support this model.
Net income was $248.4 million for the trailing 12 months through 2026-06-30, compared with operating cash flow according to EL7 data of $737.8 million. Operating cash flow equaled 297% of net income over the same period, supporting the quality of earnings conversion into cash. Free cash flow calculated by EL7 (operating cash flow minus capital expenditures) for the trailing 12 months was $624.7 million.
Automated analysis for informational purposes only — not investment advice.
A news report dated 2026-09-24 covered Oracle's notice to the Jupiter developer to protect its position regarding payments if the data center does not begin operating in 2028 as planned, and did not describe it as a withdrawal. The site could use up to 2.45 gigawatts of Bloom systems, while the report cited 1.2 gigawatts under contract within the broader partnership's potential ceiling of 2.8 gigawatts. A report dated 2026-09-25 confirmed Oracle's continued commitment, but the financial question remains how site readiness affects delivery timing, with management stating on 2026-07-28 that fiscal year 2026 guidance does not depend on a single project.
The approximately $4 billion amount in the 2026-10-14 report represents AEP's planned investment in a 702-megawatt fuel cell project in Wyoming. The project is expected to use Bloom technology, with a 20-year power purchase agreement for Google. This supports the existence of named demand for the technology, but does not establish revenue for Bloom equal to the full project cost.
The 2026-10-22 announcement is expected to confirm the trajectory of fiscal year 2026 revenue guidance of $3.9 billion to $4.2 billion and adjusted operating income of $800 million to $900 million. Results for quarter 2 of fiscal year 2026 (ended 2026-06-30) provide a comparison baseline, with a gross margin of 33.4% and an operating margin calculated by EL7 of 17.1%. Explanations of project delivery timing and order conversion into revenue also matter because management has clarified that customer site readiness drives the distribution of results between quarters.