Is the business good?
How good a business is BE?
Bloom Energy Corporation earns 13% on the capital it employs against a 9.0% cost of capital, so the business is worth more the bigger it gets.
13%
Return on invested capital · cost of capital 9.0% · 3.5 points above what the capital costs: growth creates value
- Operating margin
- 6.7%
Operating margin · Electrical Equipment & Parts median 7.3% · 12 months to Q1 2026
- Share count, year on year
- +39%
Share count, year on year · shareholders own a smaller slice than a year ago
- R&D as % of revenue
- 8.3%
R&D as % of revenue
| Year | Operating margin |
|---|---|
| FY2020 | −10% |
| FY2021 | −12% |
| FY2022 | −22% |
| FY2023 | −16% |
| FY2024 | 1.6% |
| FY2025 | 3.6% |
Details›
- Gross margin12 months to Q1 2026
- 30%
- Operating margin12 months to Q1 2026
- 6.7%
- Net margin12 months to Q1 2026
- 0.41%
- Free cash flow margin
- 9.4%
- R&D as % of revenue
- 8.3%
- Revenue, trailing twelve months
- $2.45B
- Free cash flow, trailing twelve months
- $230M
- Net income, trailing twelve months
- $10.0M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 13%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.
Electrical Equipment & Parts
Ranks #16 of 20 by Smart Score