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Fluence Energy, Inc. (FLNC) 10-Year Financial Performance & Capital Metrics

FLNC • • Utilities
UtilitiesRenewable EnergyEnergy Storage SolutionsBattery Storage Providers
AboutFluence Energy, Inc. provides energy storage products and services, and artificial intelligence enabled digital applications for renewables and storage applications worldwide. The company sells energy storage products with integrated hardware, software, and digital intelligence, as well as engineering and delivery services to support the deployment of its storage products; operational and maintenance, and energy storage-as-a-service; and digital applications and solutions. Its energy storage products include Gridstack, a grid-scale industrial strength energy storage product; Sunstack for optimizing solar capture and delivery; and Edgestack, a commercial energy storage product that discharges when needed to flatten a facility's energy load profile. The company serves utilities, developers, and commercial and industrial customers. Fluence Energy, Inc. was founded in 2018 and is headquartered in Arlington, Virginia. Fluence Energy, Inc. is a joint venture of Siemens Aktiengesellschaft and The AES Corporation.Show more
  • Revenue $2.26B -16.1%
  • EBITDA -$4M -108.9%
  • Net Income -$48M -312.7%
  • Free Cash Flow -$175M -388.8%
  • EBITDA Margin -0.16% -110.6%
  • Net Margin -2.14% -353.6%
  • ROE -8.36% -314.1%
  • Interest Coverage -8.03
  • Debt/Equity 0.71 +1323.9%
  • Net Debt/EBITDA -
  • CapEx / Revenue 1.32% +337.9%
  • CapEx Coverage -4.88 -155.6%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Momentum leader: RS Rating 97 (top 3%)
  • ✓Share count reduced 29.2% through buybacks
  • ✓Trading near 52-week high

✗Weaknesses

  • ✗Weak Piotroski F-Score: 3/9

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-
5Y32.16%
3Y23.59%
TTM-16.15%

Profit (Net Income) CAGR

10Y-
5Y-
3Y-
TTM-312.69%

EPS CAGR

10Y-
5Y-
3Y-
TTM-861.54%

ROCE

10Y Avg-145.46%
5Y Avg-28.62%
3Y Avg-5.44%
Latest-4.05%

Peer Comparison

Battery Storage Providers
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
FLNCFluence Energy, Inc.3.35B25.50-68.92-16.15%-2.14%-8.8%0.71

Profit & Loss

Sep 2019Sep 2020Sep 2021Sep 2022Sep 2023Sep 2024Sep 2025
Revenue+92.15M561.32M680.77M1.2B2.22B2.7B2.26B
Revenue Growth %-5.09%0.21%0.76%0.85%0.22%-0.16%
Cost of Revenue100.07M553.4M749.91M1.26B2.08B2.36B1.97B
Gross Profit+-7.92M7.92M-69.14M-62.35M140.96M341.08M295.79M
Gross Margin %-------
Gross Profit Growth %-2%-9.73%0.1%3.26%1.42%-0.13%
Operating Expenses+41.67M48.73M89.33M221.17M243.73M314.46M328.77M
Other Operating Expenses-------
EBITDA+-44.86M-37.79M-153.63M-278.69M-92.11M41.1M-3.65M
EBITDA Margin %-------
EBITDA Growth %-0.16%-3.07%-0.81%0.67%1.45%-1.09%
Depreciation & Amortization+2.89M3.02M5.11M7.11M10.66M14.48M29.34M
D&A / Revenue %-------
Operating Income (EBIT)+-47.75M-40.81M-158.74M-285.8M-102.77M26.62M-32.99M
Operating Margin %-------
Operating Income Growth %-0.15%-2.89%-0.8%0.64%1.26%-2.24%
Interest Expense+7K128K1.44M0004.11M
Interest Coverage-6821.71x-318.82x-110.62x----8.03x
Interest / Revenue %-------
Non-Operating Income-1000K-1000K-1000K-1000K1000K1000K-1000K
Pretax Income+-47.76M-40.29M-160.17M-287.82M-100.27M39.57M-45.07M
Pretax Margin %-------
Income Tax+-778K6.42M1.83M1.36M4.55M9.21M22.92M
Effective Tax Rate %-------
Net Income+-46.98M-46.71M-162M-289.18M-69.62M22.72M-48.31M
Net Margin %-------
Net Income Growth %-0.01%-2.47%-0.79%0.76%1.33%-3.13%
EPS (Diluted)+-0.95-0.94-2.99-4.15-0.600.12-0.37
EPS Growth %-0.01%-2.18%-0.39%0.86%1.2%-4.08%
EPS (Basic)-0.95-0.94-2.99-4.15-0.600.18-0.37
Diluted Shares Outstanding49.49M49.49M54.14M69.71M116.45M184.03M130.31M

Balance Sheet

Sep 2019Sep 2020Sep 2021Sep 2022Sep 2023Sep 2024Sep 2025
Total Assets+188.8M364.02M717.67M1.75B1.35B1.9B2.36B
Asset Growth %-0.93%0.97%1.43%-0.23%0.41%0.24%
PP&E (Net)+3.95M5.17M8.21M16.16M12.77M15.35M50.32M
PP&E / Total Assets %-------
Total Current Assets+148.29M327.47M661.51M1.6B1.19B1.68B2.06B
Cash & Equivalents84.11M93.81M36.83M357.3M345.9M448.69M690.77M
Receivables1000K1000K1000K1000K1000K1000K1000K
Inventory10.68M37.31M389.79M652.74M224.9M182.6M455.01M
Other Current Assets3.9M5.46M39.66M140.18M266.04M442.14M406.06M
Long-Term Investments0-4.08M010M30.92M23.93M0
Goodwill4.7M4.73M9.18M24.85M26.02M27.48M28.58M
Intangible Assets28.75M26.3M36.06M51.7M55.75M60M63.4M
Other Assets1.49M353K1.54M38.39M31.64M86.1M146.39M
Total Liabilities163.3M381.25M773.87M1.12B795.82M1.3B1.81B
Total Debt+00100M2.74M50.56M30.36M390.8M
Net Debt-84.11M-93.81M63.17M-354.55M-295.33M-418.32M-299.96M
Long-Term Debt000028.02M0390.8M
Short-Term Borrowings001000K1000K1000K1000K0
Capital Lease Obligations0002.74M1.33M8.56M0
Total Current Liabilities+160.72M378.24M771.49M1.11B745.66M1.26B1.37B
Accounts Payable15.04M78.13M158.37M304.9M65.38M436.74M321M
Accrued Expenses23.98M147.81M186.14M21.29M172.22M031.85M
Deferred Revenue52.98M123.84M71.36M273.07M273.16M312.66M640.46M
Other Current Liabilities120.26M142.84M14.8M495.63M182.9M421.14M346.74M
Deferred Taxes1000K163K1000K1000K1000K1000K1000K
Other Liabilities2.58M2.85M2.38M1.1M17.34M23.61M37.45M
Total Equity+-71.87M-117.1M-279.59M629.21M556.33M607.14M548.85M
Equity Growth %--0.63%-1.39%3.25%-0.12%0.09%-0.1%
Shareholders Equity-71.87M-117.1M-279.59M435.83M402.35M472.1M548.85M
Minority Interest000193.38M153.98M135.03M0
Common Stock97.37M99.87M106.15M1K1K1K1K
Additional Paid-in Capital000542.6M581.1M634.85M627.96M
Retained Earnings-70.59M-117.3M-279.3M-104.54M-174.16M-151.45M-199.76M
Accumulated OCI-1.28M201K-285K2.78M3.2M-1.84M11.61M
Return on Assets (ROA)-0.25%-0.17%-0.3%-0.23%-0.04%0.01%-0.02%
Return on Equity (ROE)----1.65%-0.12%0.04%-0.08%
Debt / Equity---0.00x0.09x0.05x0.71x
Debt / Assets--0.14%0%0.04%0.02%0.17%
Net Debt / EBITDA------10.18x-
Book Value per Share-1.45-2.37-5.169.034.783.34.21

Cash Flow

Sep 2019Sep 2020Sep 2021Sep 2022Sep 2023Sep 2024Sep 2025
Cash from Operations+27.68M-14.02M-265.27M-282.38M-111.93M71.23M-145.54M
Operating CF Growth %--1.51%-17.93%-0.06%0.6%1.64%-3.04%
Operating CF / Revenue %-------
Net Income-46.98M-46.71M-162M-289.18M-104.82M22.72M-67.99M
Depreciation & Amortization2.89M3.02M5.11M7.11M9.84M14.48M29.34M
Deferred Taxes-843K1.9M-1.35M516K2.54M-6.72M6.35M
Other Non-Cash Items5.97M170.83M41.36M43.34M-5.39M27.06M11.18M
Working Capital Changes66.65M27.78M-148.39M-88.3M-41.02M-9.36M-143.96M
Capital Expenditures+-22.74M18.22M-22.29M-148.42M94.44M-18.98M-29.8M
CapEx / Revenue %-------
CapEx / D&A-------
CapEx Coverage (OCF/CapEx)-------
Cash from Investing+-22.74M18.22M-22.29M-148.42M94.44M-18.98M-29.8M
Acquisitions00-18M-29.21M-5.01M00
Purchase of Investments-20M00-111.27M-5.01M00
Sale of Investments01000K01000K1000K00
Other Investing-20M20M0-140.48M-4.22M-10.86M-14.91M
Cash from Financing+10M2.5M231.13M817.05M52.59M-8.68M356.88M
Dividends Paid0000000
Dividend Payout Ratio %-------
Debt Issuance (Net)001000K-1000K1000K01000K
Stock Issued10M2.5M131.28M935.76M002.17M
Share Repurchases000-5.01M-2.78M-1.66M0
Other Financing00-154K07.2M-7.01M-13.92M
Net Change in Cash+14.13M8.03M-56.98M391.65M33.01M55.98M195.92M
Exchange Rate Effect-815K1000K-547K1000K-1000K1000K1000K
Cash at Beginning72.89M87.02M95.05M38.07M429.72M462.73M518.71M
Cash at End87.02M95.05M38.07M429.72M462.73M518.71M714.63M
Free Cash Flow+4.95M4.2M-287.56M-430.8M-17.49M60.71M-175.34M
FCF Growth %--0.15%-69.4%-0.5%0.96%4.47%-3.89%
FCF Margin %-------
FCF / Net Income %-------

Key Ratios

Metric2019202020212022202320242025
Return on Equity (ROE)----165.42%-11.74%3.9%-8.36%
EBITDA Margin-48.68%-6.73%-22.57%-23.25%-4.15%1.52%-0.16%
Net Debt / EBITDA------10.18x-
Interest Coverage-6821.71x-318.82x-110.62x----8.03x
CapEx / Revenue24.67%3.25%3.27%12.38%4.26%0.3%1.32%
Debt / Equity---0.00x0.09x0.05x0.71x
EPS Growth-1.05%-218.09%-38.8%85.54%120%-408.33%

Revenue by Segment

2022202320242025
Product1.18B2.2B2.65B2.17B
Product Growth-86.23%20.49%-17.96%
Service-15.99M45.35M84.44M
Service Growth--183.60%86.18%
Service, Other15.91M---
Service, Other Growth----
Product and Service, Other126K---
Product and Service, Other Growth----

Revenue by Geography

2022202320242025
Americas837.93M1.65B1.59B1.31B
Americas Growth-96.33%-3.17%-18.02%
UNITED STATES---877.3M
UNITED STATES Growth----
EMEA182.44M306.79M526.3M608.32M
EMEA Growth-68.17%71.55%15.58%
Asia Pacific178.23M266.08M579.25M348.57M
Asia Pacific Growth-49.29%117.70%-39.82%

Frequently Asked Questions

Growth & Financials

Fluence Energy, Inc. (FLNC) reported $2.26B in revenue for fiscal year 2025. This represents a 2356% increase from $92.2M in 2019.

Fluence Energy, Inc. (FLNC) saw revenue decline by 16.1% over the past year.

Fluence Energy, Inc. (FLNC) reported a net loss of $48.3M for fiscal year 2025.

Dividend & Returns

Fluence Energy, Inc. (FLNC) has a return on equity (ROE) of -8.4%. Negative ROE indicates the company is unprofitable.

Fluence Energy, Inc. (FLNC) had negative free cash flow of $175.3M in fiscal year 2025, likely due to heavy capital investments.

Industry Metrics

Fluence Energy, Inc. (FLNC) has a dividend payout ratio of 0%. This suggests the dividend is well-covered and sustainable.

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