Upside case
Bull case
$32-90.4%
The bull case prices BE at 15x on FY1 earnings, assuming continued execution and no meaningful deceleration in the core business.
Analysis OverviewBuyUpdated Jun 18, 2026
Bloom Energy Corporation (BE) Stock Analysis
Wall Street verdict, consensus price target, and analyst rating breakdown — everything needed to frame the risk/reward at today's price.
Analyst consensus
Buy
Covering
31
analysts
16 bullish · 3 bearish · 31 covering BE
Strong Buy
0
Buy
16
Hold
12
Sell
3
Strong Sell
0
Consensus Target
$233
-29.1% vs today
Scenario Range
$15 – $32
Model bear to bull value window
Coverage
31
Published analyst ratings
Valuation Context
153.5x
Forward P/E · Market cap $79.1B
BE price targets
Three scenarios for where BE stock could go
Current
~$329
Confidence
54 / 100
Updated
Jun 18, 2026
Where we are now
Current · $329
Bear
$15
Base
$24
Bull
$32
Market caseClosest to today
Base case
$24-92.7%
At 11x on FY1 earnings, the base case reflects a reasonable but not stretched valuation. It prices in continued growth without assuming an exceptional setup.
Stress case
Bear case
$15-95.4%
If investor confidence fades or macro conditions deteriorate, a 146x multiple contraction could push BE down roughly 95% from where it trades now.
Not financial advice. Model confidence reflects internal scenario assumptions, not a guarantee of returns. Past performance does not predict future results.
Bloom Energy Corporation
BE · NYSEIndustrialsElectrical Equipment & PartsDecember year-end
Bloom Energy designs and manufactures solid-oxide fuel cell systems that generate clean electricity on-site for commercial and industrial customers. It makes money primarily through product sales of its Energy Server systems — which account for most revenue — supplemented by long-term service contracts that provide recurring maintenance income. The company's key advantage is its proprietary solid-oxide fuel cell technology that efficiently converts various fuels — including natural gas, biogas, and hydrogen — into electricity without combustion, offering customers reliable, resilient power with lower emissions.
Market Cap
$79.1B
Revenue TTM
$2.4B
Net Income TTM
$6M
Net Margin
0.2%
BE Revenue and Earnings Performance
Quarterly beat-or-miss track record against analyst estimates, plus forward revenue and EPS outlook for the next two fiscal years.
EPS Beat Rate
58%Exceptional
12 quarters tracked
Revenue Beat Rate
58%Exceptional
vs consensus estimates
Avg EPS Surprise
+124.1%
above Street consensus
Beat / Miss Record
BeatMissLeft = EPS · Right = Revenue
Q3 2025
Q4 2025
Q1 2026
Q2 2026
Last 4 Quarters
EPS beats: 4 of 4Q3 2025
EPS
$0.10/$0.01
Revenue
$401M/$376M
Q4 2025
EPS
$0.15/$0.10
Revenue
$519M/$427M
Q1 2026
EPS
$0.45/$0.31
Revenue
$778M/$648M
Q2 2026
EPS
$0.44/$0.12
Revenue
$751M/$540M
| Quarter | EPS (Actual / Est) | EPS Surprise | Revenue (Actual / Est) | Rev Surprise |
|---|---|---|---|---|
| Q3 2025 | $0.10/$0.01 | +725.8% | $401M/$376M | +6.7% |
| Q4 2025 | $0.15/$0.10 | +49.0% | $519M/$427M | +21.5% |
| Q1 2026 | $0.45/$0.31 | +46.7% | $778M/$648M | +19.9% |
| Q2 2026 | $0.44/$0.12 | +255.1% | $751M/$540M | +39.1% |
FY1–FY2 Estimates
Revenue Outlook
FY1
$2.9B
+20.2% YoY
FY2
$3.6B
+22.3% YoY
EPS Outlook
FY1
$0.65
+3351.3% YoY
FY2
$1.33
+104.0% YoY
Trailing FCF (TTM)$233M
FCF Margin: 9.5%
Next Earnings
July 30, 2026
Expected EPS
$0.35
Expected Revenue
$809M
BE beat EPS estimates in 4 of 4 tracked quarters. A perfect track record raises the bar for the upcoming report.
BE Revenue Breakdown by Segment
Product and geographic revenue mix from the latest annual disclosure, with year-over-year growth by segment.
Latest disclosure
FY 2025
Total disclosed revenue $2.0B
Product Mix
Latest annual revenue by segment or product family
Product
75.6%
+41.1% YoY
Tap, hover, or focus a slice to inspect segment detail.
Geographic Mix
Latest annual revenue by reported region
Segment breakdown not available for this company.
Product is the largest disclosed segment at 75.6% of FY 2025 revenue, up 41.1% YoY.
BE Valuation Snapshot
Current multiples compared to the S&P 500, the company's sector, and its own five-year average.
Relative Value Signal
Expensive versus peers
Fair value est. $22 — implies -93.3% from today's price.
Premium to Fair Value
93.3%
above fair value
Deep DiscountFair ValueVery Expensive
vs S&P 500 Trailing P/E
BE
-888.9x
vs
S&P 500
24.4x
3736% discount
vs Industrials Trailing P/E
BE
-888.9x
vs
Industrials
25.6x
3576% discount
vs BE 5Y Avg P/E
Today
-888.9x
vs
5Y Average
—
Benchmark unavailable
Forward PE
153.5x
S&P 500
18.8x
+716%
Industrials
21.2x
+625%
5Y Avg
—
—
Trailing PE
-888.9x
S&P 500
24.4x
-3736%
Industrials
25.6x
-3576%
5Y Avg
—
—
PEG Ratio
—
S&P 500
1.66x
—
Industrials
1.65x
—
5Y Avg
—
—
EV/EBITDA
645.3x
S&P 500
15.2x
+4143%
Industrials
13.9x
+4545%
5Y Avg
76.1x
+749%
Price/FCF
1382.6x
S&P 500
20.7x
+6581%
Industrials
20.0x
+6797%
5Y Avg
152.3x
+808%
Price/Sales
39.1x
S&P 500
3.1x
+1164%
Industrials
1.6x
+2401%
5Y Avg
4.6x
+750%
Dividend Yield
0.00%
S&P 500
1.91%
-100%
Industrials
1.21%
-100%
5Y Avg
0.02%
-93%
| Metric | BE | S&P 500 | Industrials | 5Y Avg BE |
|---|---|---|---|---|
| Forward PE | 153.5x | 18.8x+716% | 21.2x+625% | — |
| Trailing PE | -888.9x | 24.4x-3736% | 25.6x-3576% | — |
| PEG Ratio | — | 1.66x | 1.65x | — |
| EV/EBITDA | 645.3x | 15.2x+4143% | 13.9x+4545% | 76.1x+749% |
| Price/FCF | 1382.6x | 20.7x+6581% | 20.0x+6797% | 152.3x+808% |
| Price/Sales | 39.1x | 3.1x+1164% | 1.6x+2401% | 4.6x+750% |
| Dividend Yield | 0.00% | 1.91% | 1.21% | 0.02% |
BE trades above S&P 500 benchmarks on 4 of 5 measured multiples — commands a broad premium across most valuation dimensions.
Forward P/E and PEG reflect analyst consensus estimates. Historical averages use trailing ratios where forward data is unavailable.S&P 500 and sector benchmarks both use trailing median P/E — similar readings indicate the broader index and sector are priced alike.
Open valuation toolBE Financial Health
Verdict
Adequate
BE generates $233M in free cash flow at a 9.5% margin.
Cash Engine
Revenue, margins, and cash generation
Revenue (TTM)
Trailing-twelve-month sales base
$2.4B
Revenue Growth
TTM vs prior year
+56.5%
Gross Margin
Gross profit as a share of revenue
31.1%
Operating Margin
Operating income divided by revenue
8.2%
Net Margin
Net income divided by revenue
0.2%
EPS (TTM)
Diluted earnings per share, trailing twelve months
$0.02
Free Cash Flow (TTM)
Cash generation after capex
$233M
FCF Margin
FCF as share of revenue — the primary cash quality signal
9.5%
Capital Quality
ROIC, leverage, and debt serviceability
ROIC
Return on invested capital — primary competitive quality signal
4.1%
ROA
Return on assets, trailing twelve months
0.2%
Cash & Equivalents
Liquid assets on the balance sheet
$2.5B
Net Debt
Total debt minus cash
$538M
Debt Serviceability
Net debt as a multiple of annual free cash flow
2.3× FCF
~2.3 years to full repayment at current FCF run-rate
ROE
Return on equity, trailing twelve months
0.8%
Shareholder Returns
How capital is returned to owners
Total shareholder yield
0.0%
Dividend
0.0%
Buyback
0.0%
Share Repurchases
Trailing buyback outflow — dollar magnitude of capital returned
$0
Dividend / Share
Annualized trailing dividend per share
$0.00
Payout Ratio
Share of earnings distributed as dividends
—
Shares Outstanding
Current diluted share count
240M
All figures from the trailing twelve months. ROIC uses invested capital (equity + net debt).
Open full ratios pageBE Stock Risk Factors
Key factors that could pressure the stock price, compress the multiple, or weigh on future results.
AI analysis · updated June 17, 2026
Medium
Revenue volatility
Trailing 12-month revenue shows significant fluctuation, with Q1 2026 revenue at $751.1 million but net income only $6.0 million over the same period, indicating potential instability.
High Risk
Profitability concerns
Despite $2.4 billion in trailing 12-month revenue, basic EPS is just $0.02, raising questions about sustainable profitability and margin pressures.
Medium
Growth sustainability
Revenue growth forecasts of 20.2% may face challenges given current margin performance and macroeconomic sensitivity.
Lower
Market competition
The company operates in a competitive energy sector, where differentiation and technological edge are critical for long-term success.
High Risk
Valuation sensitivity
Sensitivity analysis highlights significant valuation shifts under different scenarios, indicating high dependency on revenue growth and margin assumptions.
These are risk mechanisms, not predictions. The key question is which would force a cut to earnings estimates or a lower multiple than the market currently prices in.
Why BE Stock Could Outperform
Structural drivers behind the upside case and why the stock could outperform over the next 12 months.
AI analysis · updated June 17, 2026
Bullish investment thesis
Arya's Substack presents a bullish case for Bloom Energy Corporation, highlighting its potential as a strong investment.
Strong financial metrics
Bloom Energy's trailing and forward P/E ratios indicate potential undervaluation or growth expectations.
Leading provider position
Bloom Energy is solidifying its position as a leading provider of on-site energy solutions.
Comprehensive investment analysis
A detailed breakdown of Bloom Energy's business and investment thesis provides clarity on its growth potential.
Market confidence
The stock's trading price and analyst coverage reflect market confidence in Bloom Energy's future performance.
A real bull case compounds — each driver matters most when it strengthens margins, supports capital returns, and keeps the company above the market's minimum growth bar simultaneously.
BE Stock Price Performance
52-week range context and price returns across multiple time horizons. Dividend contribution is shown separately in the Capital Return section.
Current Price
$328.91
52W Range Position
100%
52-Week Range
Current price plotted between the 52-week low and high.
52-Week Low
$20.93
+1471.5% from the low
52-Week High
$329.44
-0.2% from the high
1 Month
+27.13%
3 Month
+110.06%
YTD
+233.3%
1 Year
+1429.8%
3Y CAGR
+169.1%
5Y CAGR
+67.9%
10Y CAGR
+29.4%
Range context matters because valuation compression and earnings misses rarely hit from the same starting point. A stock already far below its high can still fall, but it is no longer carrying the same embedded optimism as one pressing a fresh peak.
BE vs Peers
Valuation, growth, and margin comparison against the closest publicly traded peers for this company.
Peer Set
Accurate peer set
Forward PE
153.5x
vs 21.1x median
+627% above peer median
Revenue Growth
+20.2%
vs +11.0% median
+84% above peer median
Net Margin
0.2%
vs -91.5% median
+100% above peer median
| Company | Mkt Cap | Fwd PE | Rev Grw | Margin | Rating | Upside |
|---|---|---|---|---|---|---|
BE BE Bloom Energy Corporation | $79.1B | 153.5x | +20.2% | 0.2% | Buy | -29.1% |
PLU PLUG Plug Power Inc. | $3.3B | — | +11.0% | -227.1% | Buy | -35.1% |
FCE FCEL FuelCell Energy, Inc. | $1.3B | — | +10.6% | -132.7% | Hold | -25.1% |
BLD BLDP Ballard Power Systems Inc. | $1.3B | — | +11.9% | -91.5% | Hold | -17.6% |
GNR GNRC Generac Holdings Inc. | $16.4B | 31.2x | +8.1% | 4.4% | Buy | +1.3% |
ARR ARRY Array Technologies, Inc. | $1.2B | 11.0x | +15.1% | -5.6% | Buy | +22.5% |
This peer comparison reflects companies with similar business models, product lines, or market positioning, supplemented by industry grouping when direct matches are limited.
BE Dividend and Capital Return
BE does not currently return meaningful capital to shareholders.
Dividend UnknownFCF Well Covered
Total Shareholder Yield
0.0%
Dividend + buyback return per year
Buyback Yield
0.0%
Dividend Yield
0.00%
Payout Ratio
—
How BE Splits Its Return
Div 0.00%
Dividend 0.00%Buybacks 0.0%
Dividend Profile
Yield, cadence, and growth quality
Dividend / Share
Trailing annualized cash dividend
$0.00
Growth Streak
Consecutive years of dividend increases
0Y
3Y Div CAGR
—
5Y Div CAGR
—
Ex-Dividend Date
—
Payment Cadence
—
0 payments over the last 12 months
Buyback Engine
How much per-share support comes from repurchases
Repurchases (TTM)
Cash used for buybacks in the latest trailing period
$0
Estimated Shares Retired
0
Approx. Share Reduction
0.0%
Shares Outstanding
Current diluted share count from the screening snapshot
240M
FAQ
7 questionsBE Investor Questions
Common questions answered from live analyst data and company financials.
01Is Bloom Energy Corporation (BE) stock a buy or sell in 2026?
Bloom Energy Corporation (BE) is rated Buy by Wall Street analysts as of 2026. Of 31 analysts covering the stock, 16 rate it Buy or Strong Buy, 12 rate it Hold, and 3 rate it Sell or Strong Sell. The consensus 12-month price target is $233, implying -29.1% from the current price of $329. The bear case scenario is $15 and the bull case is $32.
02What is the BE stock price target for 2026?
The Wall Street consensus price target for BE is $233 based on 31 analyst estimates. The high-end target is $335 (+1.9% from today), and the low-end target is $68 (-79.3%). The base case model target is $24.
03Is Bloom Energy Corporation (BE) stock overvalued in 2026?
BE trades at 153.5x times forward earnings. The stock currently trades at a discount to the broader market. Based on current multiples versus the peer group, the relative model signals expensive versus peers. Whether the stock is over or undervalued ultimately depends on whether consensus earnings estimates are achievable.
04What are the main risks for Bloom Energy Corporation (BE) stock in 2026?
The primary risks for BE in 2026 are: (1) Profitability concerns — Despite $2. (2) Valuation sensitivity — Sensitivity analysis highlights significant valuation shifts under different scenarios, indicating high dependency on revenue growth and margin assumptions. (3) Revenue volatility — Trailing 12-month revenue shows significant fluctuation, with Q1 2026 revenue at $751. Each factor has the potential to pressure earnings or compress the stock's valuation multiple.
05What is Bloom Energy Corporation's revenue and earnings forecast?
Analyst consensus estimates BE will report consensus revenue of $2.9B (+20.2% year-over-year) and EPS of $0.65 (+3351.3% year-over-year) for the upcoming fiscal year. The following year, analysts project $3.6B in revenue.
06When does Bloom Energy Corporation (BE) report its next earnings?
Bloom Energy Corporation is expected to report its next earnings on approximately 2026-07-30. Consensus expects EPS of $0.35 and revenue of $809M. Over recent quarters, BE has beaten EPS estimates 58% of the time.
07How much free cash flow does Bloom Energy Corporation generate?
Bloom Energy Corporation (BE) generated $233M in free cash flow over the trailing twelve months — a free cash flow margin of 9.5%. BE returns capital to shareholders through dividends (0.0% yield) and share repurchases ($0 TTM).