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Stock Comparison

FLNC vs BE vs PLUG vs STEM vs FCEL

Revenue, margins, valuation, and 5-year total return — side by side.

Live fundamentals10-year financials5-year price chart
FLNC
Fluence Energy, Inc.

Renewable Utilities

UtilitiesNASDAQ • US
Market Cap$2.48B
5Y Perf.-46.7%
BE
Bloom Energy Corporation

Electrical Equipment & Parts

IndustrialsNYSE • US
Market Cap$62.18B
5Y Perf.+727.4%
PLUG
Plug Power Inc.

Electrical Equipment & Parts

IndustrialsNASDAQ • US
Market Cap$4.36B
5Y Perf.-91.8%
STEM
Stem, Inc.

Software - Infrastructure

TechnologyNYSE • US
Market Cap$74M
5Y Perf.-98.2%
FCEL
FuelCell Energy, Inc.

Electrical Equipment & Parts

IndustrialsNASDAQ • US
Market Cap$646M
5Y Perf.-94.9%

FLNC vs BE vs PLUG vs STEM vs FCEL — Key Financials

Market cap, revenue, margins, and valuation side-by-side.

Company Snapshot
FLNC logoFLNC
BE logoBE
PLUG logoPLUG
STEM logoSTEM
FCEL logoFCEL
IndustryRenewable UtilitiesElectrical Equipment & PartsElectrical Equipment & PartsSoftware - InfrastructureElectrical Equipment & Parts
Market Cap$2.48B$62.18B$4.36B$74M$646M
Revenue (TTM)$2.58B$2.45B$710M$153M$170M
Net Income (TTM)$-42M$6M$-1.63B$144M$-183M
Gross Margin11.7%31.1%99.8%36.3%-15.9%
Operating Margin-1.8%8.2%38.1%-35.1%-67.6%
Forward P/E123.6x
Total Debt$391M$2.99B$997M$369M$144M
Cash & Equiv.$691M$2.45B$1M$49M$295M

FLNC vs BE vs PLUG vs STEM vs FCELLong-Term Stock Performance

Price return indexed to 100 at period start. Dividends excluded.

FLNC
BE
PLUG
STEM
FCEL
StockOct 21May 26Return
Fluence Energy, Inc. (FLNC)10053.3-46.7%
Bloom Energy Corpor… (BE)100827.4+727.4%
Plug Power Inc. (PLUG)1008.2-91.8%
Stem, Inc. (STEM)1001.8-98.2%
FuelCell Energy, In… (FCEL)1005.1-94.9%

Price return only. Dividends and distributions are not included.

Quick Verdict: FLNC vs BE vs PLUG vs STEM vs FCEL

Each card shows where this stock fits in a portfolio — not just who wins on paper.

Bottom line: STEM leads in 3 of 7 categories (5-stock set), making it the strongest pick for valuation and capital efficiency and profitability and margin quality. FuelCell Energy, Inc. is the stronger pick specifically for growth and revenue expansion and dividend income and shareholder returns. BE and PLUG also each lead in at least one category. This set spans 3 sectors — these stocks serve different portfolio roles, not just different price points.
FLNC
Fluence Energy, Inc.
The Utilities Pick

Among these 5 stocks, FLNC doesn't own a clear edge in any measured category.

Best for: utilities exposure
BE
Bloom Energy Corporation
The Growth Play

BE ranks third and is worth considering specifically for growth exposure and long-term compounding.

  • Rev growth 37.3%, EPS growth -184.6%, 3Y rev CAGR 19.1%
  • 9.3% 10Y total return vs PLUG's 62.2%
  • +14.6% vs STEM's -16.2%
Best for: growth exposure and long-term compounding
PLUG
Plug Power Inc.
The Defensive Choice

PLUG is the clearest fit if your priority is stability.

  • Beta 2.57 vs STEM's 3.66
Best for: stability
STEM
Stem, Inc.
The Value Play

STEM carries the broadest edge in this set and is the clearest fit for value and quality.

  • Better valuation composite
  • 94.2% margin vs PLUG's -229.8%
  • 43.2% ROA vs PLUG's -64.3%, ROIC -57.1% vs 10.9%
Best for: value and quality
FCEL
FuelCell Energy, Inc.
The Income Pick

FCEL is the #2 pick in this set and the best alternative if income & stability and sleep-well-at-night is your priority.

  • Dividend streak 2 yrs, beta 2.91, yield 1.0%
  • Lower volatility, beta 2.91, Low D/E 19.7%, current ratio 6.63x
  • Beta 2.91, yield 1.0%, current ratio 6.63x
  • 41.0% revenue growth vs FLNC's -16.1%
Best for: income & stability and sleep-well-at-night
See the full category breakdown
CategoryWinnerWhy
GrowthFCEL logoFCEL41.0% revenue growth vs FLNC's -16.1%
ValueSTEM logoSTEMBetter valuation composite
Quality / MarginsSTEM logoSTEM94.2% margin vs PLUG's -229.8%
Stability / SafetyPLUG logoPLUGBeta 2.57 vs STEM's 3.66
DividendsFCEL logoFCEL1.0% yield; 2-year raise streak; the other 4 pay no meaningful dividend
Momentum (1Y)BE logoBE+14.6% vs STEM's -16.2%
Efficiency (ROA)STEM logoSTEM43.2% ROA vs PLUG's -64.3%, ROIC -57.1% vs 10.9%

FLNC vs BE vs PLUG vs STEM vs FCEL — Revenue Breakdown by Segment

How each company's revenue is distributed across its business units

FLNCFluence Energy, Inc.
FY 2025
Product
96.3%$2.2B
Service
3.7%$84M
BEBloom Energy Corporation
FY 2025
Product
75.6%$1.5B
Service
11.3%$228M
Installation
10.2%$206M
Electricity
3.0%$60M
PLUGPlug Power Inc.
FY 2025
Sale Of Electrolyzers
26.5%$188M
Fuel Delivered To Customers
18.8%$133M
Power Purchase Agreements
15.2%$108M
Sale of cryogenic equipment
13.5%$96M
Services Performed On Fuel Cell Systems And Related Infrastructure
13.3%$94M
Sales Of Fuel Cell Systems
7.6%$54M
Sale Of Hydrogen Infrastructure
3.8%$27M
Other (2)
1.4%$10M
STEMStem, Inc.
FY 2025
Service
56.1%$88M
Hardware
43.9%$69M
FCELFuelCell Energy, Inc.
FY 2024
Electricity, Generation
53.8%$172M
Product
34.8%$111M
Advanced Technologies
8.3%$27M
Service
3.1%$10M

FLNC vs BE vs PLUG vs STEM vs FCEL — Financial Metrics

Side-by-side numbers across 5 stocks — who leads on profitability, valuation, growth, and risk.

BEST OVERALLBELAGGINGPLUG

Income & Cash Flow (Last 12 Months)

BE leads this category, winning 3 of 6 comparable metrics.

FLNC is the larger business by revenue, generating $2.6B annually — 16.9x STEM's $153M. STEM is the more profitable business, keeping 94.2% of every revenue dollar as net income compared to PLUG's -2.3%. On growth, BE holds the edge at +130.4% YoY revenue growth, suggesting stronger near-term business momentum.

MetricFLNC logoFLNCFluence Energy, I…BE logoBEBloom Energy Corp…PLUG logoPLUGPlug Power Inc.STEM logoSTEMStem, Inc.FCEL logoFCELFuelCell Energy, …
RevenueTrailing 12 months$2.6B$2.4B$710M$153M$170M
EBITDAEarnings before interest/tax-$19M$240M-$1.5B-$16M-$84M
Net IncomeAfter-tax profit-$42M$6M-$1.6B$144M-$183M
Free Cash FlowCash after capex-$269M$233M-$2M-$8M-$126M
Gross MarginGross profit ÷ Revenue+11.7%+31.1%+99.8%+36.3%-15.9%
Operating MarginEBIT ÷ Revenue-1.8%+8.2%+38.1%-35.1%-67.6%
Net MarginNet income ÷ Revenue-1.6%+0.2%-2.3%+94.2%-108.0%
FCF MarginFCF ÷ Revenue-10.4%+9.5%-0.3%-5.5%-74.2%
Rev. Growth (YoY)Latest quarter vs prior year+7.7%+130.4%+17.6%-10.8%+60.7%
EPS Growth (YoY)Latest quarter vs prior year+33.3%+3.3%+95.9%+27.2%+65.5%
BE leads this category, winning 3 of 6 comparable metrics.

Valuation Metrics

STEM leads this category, winning 2 of 4 comparable metrics.
MetricFLNC logoFLNCFluence Energy, I…BE logoBEBloom Energy Corp…PLUG logoPLUGPlug Power Inc.STEM logoSTEMStem, Inc.FCEL logoFCELFuelCell Energy, …
Market CapShares × price$2.5B$62.2B$4.4B$74M$646M
Enterprise ValueMkt cap + debt − cash$2.2B$62.7B$5.4B$394M$495M
Trailing P/EPrice ÷ TTM EPS-51.27x-699.03x-0.95x-1.66x
Forward P/EPrice ÷ next-FY EPS est.123.56x
PEG RatioP/E ÷ EPS growth rate
EV / EBITDAEnterprise value multiple508.37x
Price / SalesMarket cap ÷ Revenue1.10x30.72x6.14x0.48x4.08x
Price / BookPrice ÷ Book value/share4.50x78.41x0.43x
Price / FCFMarket cap ÷ FCF1087.24x10.82x
STEM leads this category, winning 2 of 4 comparable metrics.

Profitability & Efficiency

STEM leads this category, winning 3 of 9 comparable metrics.

BE delivers a 0.8% return on equity — every $100 of shareholder capital generates $1 in annual profit, vs $-124 for PLUG. FCEL carries lower financial leverage with a 0.20x debt-to-equity ratio, signaling a more conservative balance sheet compared to PLUG's 19.75x. On the Piotroski fundamental quality scale (0–9), STEM scores 6/9 vs FLNC's 3/9, reflecting solid financial health.

MetricFLNC logoFLNCFluence Energy, I…BE logoBEBloom Energy Corp…PLUG logoPLUGPlug Power Inc.STEM logoSTEMStem, Inc.FCEL logoFCELFuelCell Energy, …
ROE (TTM)Return on equity-8.3%+0.8%-124.4%-26.8%
ROA (TTM)Return on assets-1.8%+0.2%-64.3%+43.2%-20.1%
ROICReturn on invested capital-15.9%+4.1%+10.9%-57.1%-14.0%
ROCEReturn on capital employed-5.7%+2.5%+18.6%-23.9%-13.8%
Piotroski ScoreFundamental quality 0–934565
Debt / EquityFinancial leverage0.71x3.77x19.75x0.20x
Net DebtTotal debt minus cash-$300M$538M$996M$320M-$151M
Cash & Equiv.Liquid assets$691M$2.5B$1M$49M$295M
Total DebtShort + long-term debt$391M$3.0B$997M$369M$144M
Interest CoverageEBIT ÷ Interest expense1.05x-36.18x14.43x-30.14x
STEM leads this category, winning 3 of 9 comparable metrics.

Total Returns (Dividends Reinvested)

BE leads this category, winning 6 of 6 comparable metrics.

A $10,000 investment in BE five years ago would be worth $111,339 today (with dividends reinvested), compared to $217 for STEM. Over the past 12 months, BE leads with a +1464.7% total return vs STEM's -16.2%. The 3-year compound annual growth rate (CAGR) favors BE at 148.0% vs STEM's -52.9% — a key indicator of consistent wealth creation.

MetricFLNC logoFLNCFluence Energy, I…BE logoBEBloom Energy Corp…PLUG logoPLUGPlug Power Inc.STEM logoSTEMStem, Inc.FCEL logoFCELFuelCell Energy, …
YTD ReturnYear-to-date-17.6%+162.1%+40.4%-48.6%+50.3%
1-Year ReturnPast 12 months+320.6%+1464.7%+303.6%-16.2%+219.0%
3-Year ReturnCumulative with dividends+0.7%+1425.9%-66.3%-89.5%-82.9%
5-Year ReturnCumulative with dividends-45.8%+1013.4%-86.4%-97.8%-95.0%
10-Year ReturnCumulative with dividends-45.8%+934.6%+62.2%-95.5%-99.4%
CAGR (3Y)Annualised 3-year return+0.2%+148.0%-30.4%-52.9%-44.5%
BE leads this category, winning 6 of 6 comparable metrics.

Risk & Volatility

Evenly matched — PLUG and FCEL each lead in 1 of 2 comparable metrics.

PLUG is the less volatile stock with a 2.57 beta — it tends to amplify market swings less than STEM's 3.66 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. FCEL currently trades 85.9% from its 52-week high vs STEM's 27.0% drawdown — a narrower gap to the peak suggests stronger recent price momentum.

MetricFLNC logoFLNCFluence Energy, I…BE logoBEBloom Energy Corp…PLUG logoPLUGPlug Power Inc.STEM logoSTEMStem, Inc.FCEL logoFCELFuelCell Energy, …
Beta (5Y)Sensitivity to S&P 5003.55x3.61x2.57x3.66x2.91x
52-Week HighHighest price in past year$33.51$302.99$4.58$32.23$14.30
52-Week LowLowest price in past year$3.93$16.18$0.69$5.93$3.66
% of 52W HighCurrent price vs 52-week peak+56.6%+85.4%+68.3%+27.0%+85.9%
RSI (14)Momentum oscillator 0–10050.072.663.351.264.9
Avg Volume (50D)Average daily shares traded5.1M10.1M76.5M155K3.8M
Evenly matched — PLUG and FCEL each lead in 1 of 2 comparable metrics.

Analyst Outlook

FCEL leads this category, winning 2 of 2 comparable metrics.

Analyst consensus: FLNC as "Hold", BE as "Buy", PLUG as "Buy", STEM as "Hold", FCEL as "Hold". Consensus price targets imply 137.2% upside for STEM (target: $21) vs -28.9% for FCEL (target: $9). FCEL is the only dividend payer here at 1.01% yield — a key consideration for income-focused portfolios.

MetricFLNC logoFLNCFluence Energy, I…BE logoBEBloom Energy Corp…PLUG logoPLUGPlug Power Inc.STEM logoSTEMStem, Inc.FCEL logoFCELFuelCell Energy, …
Analyst RatingConsensus buy/hold/sellHoldBuyBuyHoldHold
Price TargetConsensus 12-month target$19.15$187.56$3.91$20.67$8.73
# AnalystsCovering analysts2731381719
Dividend YieldAnnual dividend ÷ price+0.0%+1.0%
Dividend StreakConsecutive years of raises02
Dividend / ShareAnnual DPS$0.00$0.12
Buyback YieldShare repurchases ÷ mkt cap+0.0%0.0%0.0%0.0%0.0%
FCEL leads this category, winning 2 of 2 comparable metrics.
Key Takeaway

BE leads in 2 of 6 categories (Income & Cash Flow, Total Returns). STEM leads in 2 (Valuation Metrics, Profitability & Efficiency). 1 tied.

Best OverallBloom Energy Corporation (BE)Leads 2 of 6 categories
Loading custom metrics...

FLNC vs BE vs PLUG vs STEM vs FCEL: Key Questions Answered

9 questions · data-driven answers · updated daily

01

Is FLNC or BE or PLUG or STEM or FCEL a better buy right now?

For growth investors, FuelCell Energy, Inc.

(FCEL) is the stronger pick with 41. 0% revenue growth year-over-year, versus -16. 1% for Fluence Energy, Inc. (FLNC). Analysts rate Bloom Energy Corporation (BE) a "Buy" — based on 31 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.

02

Which is the better long-term investment — FLNC or BE or PLUG or STEM or FCEL?

Over the past 5 years, Bloom Energy Corporation (BE) delivered a total return of +1013%, compared to -97.

8% for Stem, Inc. (STEM). Over 10 years, the gap is even starker: BE returned +934. 6% versus FCEL's -99. 4%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.

03

Which is safer — FLNC or BE or PLUG or STEM or FCEL?

By beta (market sensitivity over 5 years), Plug Power Inc.

(PLUG) is the lower-risk stock at 2. 57β versus Stem, Inc. 's 3. 66β — meaning STEM is approximately 42% more volatile than PLUG relative to the S&P 500. On balance sheet safety, FuelCell Energy, Inc. (FCEL) carries a lower debt/equity ratio of 20% versus 20% for Plug Power Inc. — giving it more financial flexibility in a downturn.

04

Which is growing faster — FLNC or BE or PLUG or STEM or FCEL?

By revenue growth (latest reported year), FuelCell Energy, Inc.

(FCEL) is pulling ahead at 41. 0% versus -16. 1% for Fluence Energy, Inc. (FLNC). On earnings-per-share growth, the picture is similar: Plug Power Inc. grew EPS 100. 0% year-over-year, compared to -1414. 3% for FuelCell Energy, Inc.. Over a 3-year CAGR, FLNC leads at 23. 6% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.

05

Which has better profit margins — FLNC or BE or PLUG or STEM or FCEL?

Stem, Inc.

(STEM) is the more profitable company, earning 88. 2% net margin versus -229. 8% for Plug Power Inc. — meaning it keeps 88. 2% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: PLUG leads at 38. 1% versus -76. 6% for FCEL. At the gross margin level — before operating expenses — PLUG leads at 99. 8%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.

06

Is FLNC or BE or PLUG or STEM or FCEL more undervalued right now?

Analyst consensus price targets imply the most upside for STEM: 137.

2% to $20. 67.

07

Which pays a better dividend — FLNC or BE or PLUG or STEM or FCEL?

In this comparison, FCEL (1.

0% yield) pays a dividend. FLNC, BE, PLUG, STEM do not pay a meaningful dividend and should not be held primarily for income.

08

Is FLNC or BE or PLUG or STEM or FCEL better for a retirement portfolio?

For long-horizon retirement investors, Bloom Energy Corporation (BE) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (+934.

6% 10Y return). Stem, Inc. (STEM) carries a higher beta of 3. 66 — meaning larger drawdowns in market downturns, which matters significantly when you cannot wait years for a recovery. Both have compounded well over 10 years (BE: +934. 6%, STEM: -95. 5%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.

09

What are the main differences between FLNC and BE and PLUG and STEM and FCEL?

These companies operate in different sectors (FLNC (Utilities) and BE (Industrials) and PLUG (Industrials) and STEM (Technology) and FCEL (Industrials)), which means they face different economic cycles, regulatory environments, and macro sensitivities — making direct comparison nuanced.

In terms of investment character: FLNC is a small-cap quality compounder stock; BE is a mid-cap high-growth stock; PLUG is a small-cap quality compounder stock; STEM is a small-cap quality compounder stock; FCEL is a small-cap high-growth stock. FCEL pays a dividend while FLNC, BE, PLUG, STEM do not, making them suitable for different income and tax situations. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.

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FLNC

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  • Sector: Utilities
  • Market Cap > $100B
  • Revenue Growth > 5%
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  • Sector: Industrials
  • Market Cap > $100B
  • Revenue Growth > 65%
  • Gross Margin > 18%
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PLUG

High-Growth Disruptor

  • Sector: Industrials
  • Market Cap > $100B
  • Revenue Growth > 8%
  • Gross Margin > 59%
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STEM

Quality Mega-Cap Compounder

  • Sector: Technology
  • Market Cap > $100B
  • Net Margin > 56%
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FCEL

High-Growth Disruptor

  • Sector: Industrials
  • Market Cap > $100B
  • Revenue Growth > 30%
  • Dividend Yield > 0.5%
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Revenue Growth>
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(FLNC: 7.7% · BE: 130.4%)

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