Tearsheet

Bloom Energy (BE)


Market Price (3/16/2026): $157.67 | Market Cap: $41.6 Bil
Sector: Industrials | Industry: Electrical Components & Equipment

Bloom Energy (BE)


Market Price (3/16/2026): $157.67
Market Cap: $41.6 Bil
Sector: Industrials
Industry: Electrical Components & Equipment

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0 Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 37%
Expensive valuation multiples
P/SPrice/Sales ratio is 20x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 358x
1 Megatrend and thematic drivers
Megatrends include Hydrogen Economy, Electrification of Everything, and Energy Transition & Decarbonization. Themes include Fuel Cell Technology, Show more.
Stock price has recently run up significantly
6M Rtn6 month market price return is 130%, 12M Rtn12 month market price return is 531%
2  Valuation getting more expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 84%
3  Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -4.3%
4  Key risks
BE key risks include [1] a heavy reliance on government incentives and policy changes, Show more.
0 Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 37%
1 Megatrend and thematic drivers
Megatrends include Hydrogen Economy, Electrification of Everything, and Energy Transition & Decarbonization. Themes include Fuel Cell Technology, Show more.
2 Expensive valuation multiples
P/SPrice/Sales ratio is 20x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 358x
3 Stock price has recently run up significantly
6M Rtn6 month market price return is 130%, 12M Rtn12 month market price return is 531%
4 Valuation getting more expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 84%
5 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -4.3%
6 Key risks
BE key risks include [1] a heavy reliance on government incentives and policy changes, Show more.

Valuation, Metrics & Events

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Bloom Energy (BE) stock has gained about 40% since 11/30/2025 because of the following key factors:

1. Exceptional Q4 2025 Financial Performance and Robust 2026 Outlook.

Bloom Energy reported Q4 2025 revenue of $777.7 million, exceeding analyst expectations of $640.07 million by 20.5% and marking a 35.9% year-over-year increase. The company's non-GAAP earnings per share (EPS) for Q4 2025 reached $0.45, surpassing forecasts of $0.30 by 50.4%. For the full year 2025, Bloom Energy achieved record revenue of $2.02 billion, a 37.3% increase from 2024. Looking ahead, the company provided strong full-year 2026 guidance, projecting revenue between $3.1 billion and $3.3 billion, which would represent over 50% year-over-year growth, and adjusted EPS of $1.33-$1.48, an 84.9% year-over-year increase at the midpoint. This guidance notably exceeded consensus estimates for 2026 revenue by 24.2% and adjusted EPS by 25.5%.

2. Soaring Demand from the AI Data Center Market.

A primary driver for the stock's appreciation was the accelerating demand for power within the artificial intelligence (AI) data center industry. Bloom Energy's solid oxide fuel cell technology provides crucial on-site, resilient power solutions, addressing the escalating energy requirements and physical constraints associated with scaling AI infrastructure. The company's total backlog expanded significantly to approximately $20 billion, indicative of strong demand, with its product backlog growing roughly 2.5 times year-over-year to about $6 billion. A key development was the $5 billion partnership with Brookfield Asset Management, announced in October 2025, aimed at deploying Bloom's fuel cell technology for AI infrastructure.

Show more

Stock Movement Drivers

Fundamental Drivers

The 41.4% change in BE stock from 11/30/2025 to 3/15/2026 was primarily driven by a 42.8% change in the company's P/S Multiple.
(LTM values as of)113020253152026Change
Stock Price ($)109.24154.5141.4%
Change Contribution By: 
Total Revenues ($ Mil)1,8192,02411.3%
P/S Multiple14.120.142.8%
Shares Outstanding (Mil)235264-11.0%
Cumulative Contribution41.4%

LTM = Last Twelve Months as of date shown

Market Drivers

11/30/2025 to 3/15/2026
ReturnCorrelation
BE41.4% 
Market (SPY)-3.1%45.3%
Sector (XLI)7.1%36.3%

Fundamental Drivers

The 191.9% change in BE stock from 8/31/2025 to 3/15/2026 was primarily driven by a 166.7% change in the company's P/S Multiple.
(LTM values as of)83120253152026Change
Stock Price ($)52.94154.51191.9%
Change Contribution By: 
Total Revenues ($ Mil)1,6302,02424.2%
P/S Multiple7.620.1166.7%
Shares Outstanding (Mil)233264-11.9%
Cumulative Contribution191.9%

LTM = Last Twelve Months as of date shown

Market Drivers

8/31/2025 to 3/15/2026
ReturnCorrelation
BE191.9% 
Market (SPY)3.0%48.2%
Sector (XLI)8.8%39.2%

Fundamental Drivers

The 543.3% change in BE stock from 2/28/2025 to 3/15/2026 was primarily driven by a 440.4% change in the company's P/S Multiple.
(LTM values as of)22820253152026Change
Stock Price ($)24.02154.51543.3%
Change Contribution By: 
Total Revenues ($ Mil)1,4742,02437.3%
P/S Multiple3.720.1440.4%
Shares Outstanding (Mil)229264-13.3%
Cumulative Contribution543.3%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2025 to 3/15/2026
ReturnCorrelation
BE543.3% 
Market (SPY)12.4%37.5%
Sector (XLI)22.0%36.0%

Fundamental Drivers

The 612.4% change in BE stock from 2/28/2023 to 3/15/2026 was primarily driven by a 453.1% change in the company's P/S Multiple.
(LTM values as of)22820233152026Change
Stock Price ($)21.69154.51612.4%
Change Contribution By: 
Total Revenues ($ Mil)1,1992,02468.8%
P/S Multiple3.620.1453.1%
Shares Outstanding (Mil)201264-23.7%
Cumulative Contribution612.4%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2023 to 3/15/2026
ReturnCorrelation
BE612.4% 
Market (SPY)73.4%34.6%
Sector (XLI)70.2%37.2%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
BE Return-23%-13%-23%50%291%83%456%
Peers Return-5%-18%-17%-15%3%9%-38%
S&P 500 Return27%-19%24%23%16%-1%80%

Monthly Win Rates [3]
BE Win Rate25%42%42%33%67%100% 
Peers Win Rate50%42%48%45%57%67% 
S&P 500 Win Rate75%42%67%75%67%33% 

Max Drawdowns [4]
BE Max Drawdown-41%-45%-49%-42%-27%0% 
Peers Max Drawdown-23%-35%-34%-36%-35%-4% 
S&P 500 Max Drawdown-1%-25%-1%-2%-15%-2% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: PLUG, FCEL, CMI, APD, LIN. See BE Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 3/13/2026 (YTD)

How Low Can It Go

Unique KeyEventBES&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-77.1%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven336.1%34.1%
2022 Inflation ShockTime to BreakevenTime to Breakeven656 days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-78.2%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven359.0%51.3%
2020 Covid PandemicTime to BreakevenTime to Breakeven119 days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-92.5%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven1240.8%24.7%
2018 CorrectionTime to BreakevenTime to Breakeven447 days120 days

Compare to PLUG, FCEL, CMI, APD, LIN

In The Past

Bloom Energy's stock fell -77.1% during the 2022 Inflation Shock from a high on 2/8/2021. A -77.1% loss requires a 336.1% gain to breakeven.

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About Bloom Energy (BE)

Bloom Energy Corporation designs, manufactures, sells, and installs solid-oxide fuel cell systems for on-site power generation in the United States and internationally. The company offers Bloom Energy Server, a power generation platform that converts fuel, such as natural gas, biogas, hydrogen, or a blend of these fuels, into electricity through an electrochemical process without combustion. It serves data centers, hospitals, healthcare manufacturing facilities, biotechnology facilities, grocery stores, hardware stores, banks, telecom facilities and other critical infrastructure applications. The company was formerly known as Ion America Corp. and changed its name to Bloom Energy Corporation in September 2006. Bloom Energy Corporation was incorporated in 2001 and is headquartered in San Jose, California.

AI Analysis | Feedback

They're like a commercial solar energy provider, but they use advanced fuel cells to generate reliable, on-site electricity.

Think of them as a generator manufacturer like Generac or Caterpillar, but for silent, clean fuel cell power systems rather than traditional combustion engines.

They're like the Tesla for distributed, clean, and reliable on-site electricity generation.

AI Analysis | Feedback

  • Bloom Energy Server: A power generation platform that converts fuel into electricity through an electrochemical process using solid-oxide fuel cell systems.
  • Installation Services: Services for the setup and deployment of solid-oxide fuel cell systems for on-site power generation.

AI Analysis | Feedback

Bloom Energy (BE) primarily sells its solid-oxide fuel cell systems to other companies for on-site power generation. Its major customers include:

  • Walmart Inc. (WMT) - A global retail giant, utilizing Bloom Energy Servers across many of its stores for reliable, on-site power.
  • Alphabet Inc. (Google) (GOOGL) - A leading technology company, known for deploying Bloom Energy systems in its data centers to power critical operations.
  • SK ecoplant - A South Korean engineering and construction company, and a major strategic partner and customer for Bloom Energy, especially in the international market and for hydrogen-powered solutions. (Note: SK ecoplant itself is not a publicly traded company; it is a subsidiary of the privately held SK Group.)
  • The Home Depot, Inc. (HD) - A prominent home improvement retail company that uses Bloom Energy's solutions for its stores.
  • Intel Corporation (INTC) - A global technology and semiconductor manufacturing company, which has utilized Bloom Energy Servers for its facilities.

AI Analysis | Feedback

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AI Analysis | Feedback

K.R. Sridhar, Founder, Chairman and Chief Executive Officer

K.R. Sridhar co-founded Ion America, which later became Bloom Energy, in 2001. Before establishing Bloom Energy, he was the Director of the Space Technologies Laboratory at the University of Arizona, where he also held a professorship in Aerospace and Mechanical Engineering. Dr. Sridhar served as an advisor to NASA, leading research for Mars exploration. His work on converting Martian atmospheric gases to oxygen for propulsion and life support was highlighted by Fortune Magazine, which named him "one of the top five futurists inventing tomorrow, today." He has also held advisory roles with venture capital firms, serving as a strategic limited partner at Kleiner Perkins Caufield & Byers and a special advisor to New Enterprise Associates.

Daniel Berenbaum, Chief Financial Officer

Daniel Berenbaum was appointed Chief Financial Officer of Bloom Energy, effective April 29, 2024. He previously served as Executive Vice President and Chief Financial Officer at National Instruments until its acquisition in October 2023, where he led finance through the sale process. Berenbaum's extensive career in finance and operations spans over three decades, including executive finance positions at Micron Technology as Vice President, Finance, Global Operations Controller; Everspin Technologies as Chief Financial Officer; and GlobalFoundries as APAC CFO. He also spent a decade on Wall Street as an analyst covering technology stocks and held technical and management roles at Applied Materials. Earlier in his career, he served five years as a nuclear-power-trained surface line officer in the United States Navy.

Satish Chitoori, Chief Operations Officer

Satish Chitoori is the Chief Operations Officer at Bloom Energy, a role he assumed in April 2024, overseeing Supply Chain, Manufacturing, Installations, and Facilities. He joined Bloom Energy in 2019 as Senior Vice President of Global Supply Chain Management. With over 22 years of experience in the semiconductor and electronics industries, Mr. Chitoori has held various senior leadership roles in operations, process engineering, quality, product management, and program management, including multiple international assignments in Southeast Asia.

Aman Joshi, Chief Commercial Officer

Aman Joshi serves as the Chief Commercial Officer at Bloom Energy, a position he has held since January 2024. In this role, he leads global sales and business development efforts. Prior to joining Bloom Energy, Mr. Joshi spent two decades at General Electric (GE), where he held various leadership roles across multiple business segments, including GE Capital, Corporate, Aviation, Global Growth Organization, and GE Power/GE Vernova. His roles at GE included Global General Manager of the Aeroderivative units business and CFO of Global Supply Chain. He possesses extensive experience working with energy policymakers, regulators, and utilities.

Shawn Soderberg, Chief Legal Officer and Corporate Secretary

Shawn Soderberg has been the Chief Legal Officer and Corporate Secretary for Bloom Energy since January 2016, where she is responsible for the company's legal, regulatory, and compliance activities. She brings over 25 years of legal experience, including more than two decades as a general counsel. Her prior roles include serving as Executive Vice President, General Counsel and Secretary for Bio-Rad Laboratories. Ms. Soderberg also held the position of Managing Director and General Counsel for H&Q Asia Pacific, a private equity firm that focused on investments in buyouts, recapitalizations, and control transactions across Asia. She also served as Senior Vice President, General Counsel and Secretary for Aricent Group, a global technology company, and Vice President and General Counsel for Microtec Research, Inc.

AI Analysis | Feedback

The key risks for Bloom Energy (BE) are primarily centered around the highly competitive energy sector, evolving regulatory and incentive landscapes, and the challenges associated with scaling production and managing customer concentration in rapidly growing markets like AI data centers.

  1. Competitive Market Landscape and Rapid Technological Advancements: Bloom Energy operates in an intensely competitive energy sector, vying with established traditional power providers, other advanced fuel cell technologies, and increasingly cost-effective renewable energy solutions such as solar, wind, and battery storage. The company must continuously innovate its solid-oxide fuel cell technology and strive for cost reductions to maintain its market share and competitive edge.
  2. Regulatory Uncertainties and Reliance on Government Incentives: The demand for Bloom Energy's products is significantly influenced by complex and often changing laws, regulations, policies, and government incentives within the energy sector. Fluctuations or expiration of financial incentives, such as the Investment Tax Credit for fuel cells (which expired in 2024, though some projects may remain eligible), or shifts in regulatory frameworks concerning hydrogen production and fossil fuel use, can materially impact the economic attractiveness of its solutions and overall revenue.
  3. Production Capacity Limitations, Supply Chain Vulnerabilities, and Customer Concentration: Bloom Energy faces considerable risks in its ability to rapidly increase its manufacturing capacity to meet the surging demand for its fuel cell systems, particularly from the booming AI data center market. Plans to double factory capacity by the end of 2026 carry execution risks, including potential delays, cost overruns, and labor shortages. The company also faces supply chain vulnerabilities for critical components and materials. Additionally, a significant portion of Bloom Energy's revenue is concentrated among a limited number of customers, including a growing reliance on the AI data center sector, making the company susceptible to any slowdowns in AI adoption or cancellations of large-scale projects.

AI Analysis | Feedback

The accelerated advancement and cost reduction of renewable energy (solar, wind) paired with advanced battery storage systems pose a clear emerging threat. These combined solutions are increasingly capable of providing reliable, carbon-free, on-site power that directly competes with Bloom Energy's fuel cell systems, particularly for customers prioritizing maximum environmental benefits and grid independence. While Bloom's systems can run on hydrogen for zero-carbon emissions, the economics of green hydrogen are still developing, whereas direct renewables + storage offer an immediate and rapidly declining-cost path to carbon-free operations.

AI Analysis | Feedback

Bloom Energy (symbol: BE) operates in several addressable markets related to its solid-oxide fuel cell systems for on-site power generation and hydrogen production.

Solid Oxide Fuel Cell (SOFC) Market

The global solid oxide fuel cell market size was accounted at approximately USD 3.85 billion in 2025 and is predicted to increase to about USD 32.14 billion by 2034, growing at a compound annual growth rate (CAGR) of 26.60% from 2025 to 2034. In 2024, North America held a significant share of this market, with some estimates placing its revenue share at over 34.52% of the global market. Additionally, the North America solid oxide fuel cell market is anticipated to grow over USD 600 million by 2034.

Distributed Energy Generation Market

Bloom Energy's on-site power generation systems fall under the broader distributed energy generation market. The global distributed energy generation market size was estimated at USD 538.2 billion in 2025 and is projected to reach USD 884.8 billion by 2033, expanding at a CAGR of 6.4% from 2026 to 2033.

On-site Power for Data Centers

A significant and rapidly growing addressable market for Bloom Energy is providing on-site power for data centers, particularly those supporting artificial intelligence (AI) infrastructure. By 2030, it is projected that approximately 27% of data center facilities will rely on on-site generation, marking a substantial increase from just 1% in 2024. Bloom Energy has also reported a total backlog that has grown to USD 20 billion, indicating strong demand for its power offerings in this sector.

AI Analysis | Feedback

Bloom Energy (BE) is expected to drive future revenue growth over the next 2-3 years through several key factors:

  1. Increased Demand from AI-driven Data Centers and Critical Infrastructure, Supported by Advanced Product Offerings: Bloom Energy is experiencing strong global demand for its Energy Servers, particularly from data centers, due to rising electricity needs and significant investments in AI data centers. The company is positioning itself as a critical infrastructure provider for the AI revolution. Additionally, Bloom Energy's new 800 volts DC production capability is strategically designed to meet these future data center demands.
  2. Significant Production Capacity Expansion: To meet the escalating demand, Bloom Energy is doubling its production capacity to 2 gigawatts by December 2026. This expansion is projected to support approximately four times the full-year fiscal 2025 revenue, ensuring that capacity constraints do not limit customer growth.
  3. Strategic Partnerships and Substantial Backlog Growth: The company has secured significant strategic partnerships, including a $5 billion collaboration with Brookfield Asset Management, establishing Bloom Energy as the preferred on-site power provider for Brookfield's global portfolio, which includes AI inference data centers. This has contributed to a surging product backlog, increasing 140% year-over-year to approximately $6 billion, and an overall backlog reaching $20 billion, indicating substantial future revenue potential.
  4. Geographical Expansion Beyond Traditional Markets: Bloom Energy is expanding its market reach geographically. Over 80% of its U.S. backlog is now originating from regions outside of its traditional strongholds of California and the Northeast, signaling successful market penetration into new areas.

AI Analysis | Feedback

Capital Allocation Decisions of Bloom Energy (BE)

Share Repurchases

  • Over the last three to five years, Bloom Energy has not engaged in significant share repurchases. The company's buyback yield for the three-year period indicates an increase in outstanding shares rather than a reduction.

Share Issuance

  • Bloom Energy's outstanding shares have shown a consistent increase over the past few years, rising from 0.18 billion in 2022 to approximately 0.26 billion at the end of 2025.
  • The company issued 3.0% Green Convertible Senior Notes in 2023 and 2024 to raise cash.
  • In the fourth quarter of 2025, Bloom Energy further raised cash by issuing 0% Convertible Senior Notes.

Inbound Investments

  • Bloom Energy has formed strategic partnerships, including a collaboration with Oracle to provide on-site solid-state power for AI data centers. In connection with this, Bloom Energy issued a warrant to Oracle for purchasing shares of Bloom's common stock.

Capital Expenditures

  • Capital expenditures for Bloom Energy averaged $73.197 million from 2021 to 2025.
  • Annual capital expenditures fluctuated, peaking at $116.8 million in 2022 and then decreasing to $83.739 million in 2023, $58.852 million in 2024, and $56.759 million in 2025.
  • The primary focus of capital expenditures has been on expanding manufacturing capabilities, including increasing the annual production capacity at its Fremont facility from 1 gigawatt to 2 gigawatts by the end of 2026, and establishing a new research and technical center and a global hydrogen development facility in Fremont, California. Forecasted capital expenditures for 2026 are $119 million.

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Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

BEPLUGFCELCMIAPDLINMedian
NameBloom En.Plug Pow.FuelCell.Cummins Air Prod.Linde  
Mkt Price154.512.156.63535.71287.98493.92221.25
Mkt Cap40.82.90.274.064.2230.152.5
Rev LTM2,02471015833,67012,20833,9867,116
Op Inc LTM73-680-1213,8712,9729,2541,522
FCF LTM57-661-1482,386-2,8105,089-45
FCF 3Y Avg-122-1,176-1981,806-2,8575,178-160
CFO LTM114-536-1253,6213,34610,3501,730
CFO 3Y Avg-56-790-1393,0253,4309,6931,485

Growth & Margins

BEPLUGFCELCMIAPDLINMedian
NameBloom En.Plug Pow.FuelCell.Cummins Air Prod.Linde  
Rev Chg LTM37.3%12.9%41.0%-1.3%1.4%3.0%7.9%
Rev Chg 3Y Avg19.7%3.5%8.8%6.7%-1.7%0.6%5.1%
Rev Chg Q35.9%17.6%11.5%1.1%5.8%5.8%8.7%
QoQ Delta Rev Chg LTM11.3%5.0%3.7%0.3%1.4%1.4%2.6%
Op Mgn LTM3.6%-95.7%-76.6%11.5%24.3%27.2%7.5%
Op Mgn 3Y Avg-3.5%-128.1%-108.7%8.4%23.7%26.0%2.5%
QoQ Delta Op Mgn LTM-1.4%43.5%10.2%0.3%0.3%0.1%0.3%
CFO/Rev LTM5.6%-75.5%-79.2%10.8%27.4%30.5%8.2%
CFO/Rev 3Y Avg-5.4%-105.2%-109.7%8.9%28.1%29.1%1.8%
FCF/Rev LTM2.8%-93.2%-93.5%7.1%-23.0%15.0%-10.1%
FCF/Rev 3Y Avg-9.7%-154.8%-157.2%5.3%-23.4%15.6%-16.6%

Valuation

BEPLUGFCELCMIAPDLINMedian
NameBloom En.Plug Pow.FuelCell.Cummins Air Prod.Linde  
Mkt Cap40.82.90.274.064.2230.152.5
P/S20.14.11.52.25.36.84.7
P/EBIT-1,336.0-1.8-1.317.2-415.324.6-1.6
P/E-461.0-1.8-1.326.0-192.333.4-1.5
P/CFO357.8-5.4-1.920.419.222.219.8
Total Yield-0.2%-56.1%-78.1%5.3%2.0%4.2%0.9%
Dividend Yield0.0%0.0%0.0%1.4%2.5%1.2%0.6%
FCF Yield 3Y Avg-4.3%-48.9%-70.4%4.0%-4.7%2.6%-4.5%
D/E0.10.30.60.10.30.10.2
Net D/E0.00.2-0.60.10.30.10.1

Returns

BEPLUGFCELCMIAPDLINMedian
NameBloom En.Plug Pow.FuelCell.Cummins Air Prod.Linde  
1M Rtn10.6%13.8%-8.2%-10.9%2.9%3.0%3.0%
3M Rtn62.7%-7.3%-24.3%5.4%19.4%19.1%12.2%
6M Rtn129.7%41.4%-3.5%31.6%-0.3%3.2%17.4%
12M Rtn531.4%29.5%7.3%69.6%1.3%9.9%19.7%
3Y Rtn757.4%-81.8%-92.8%147.4%11.3%51.8%31.5%
1M Excs Rtn1.7%12.1%-7.9%-7.9%0.6%8.4%1.2%
3M Excs Rtn54.2%-3.3%-20.0%4.1%24.2%27.8%14.1%
6M Excs Rtn126.8%39.5%-0.2%28.5%-3.7%-0.0%14.2%
12M Excs Rtn508.4%8.5%-24.2%44.0%-20.7%-9.7%-0.6%
3Y Excs Rtn521.9%-154.1%-163.0%53.9%-62.5%-24.5%-43.5%

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Single Segment1,333    
Electricity 75686471
Installation 929610261
Product 881664519557
Service 15114411096
Total1,3331,199972794785


Price Behavior

Price Behavior
Market Price$154.51 
Market Cap ($ Bil)40.8 
First Trading Date07/25/2018 
Distance from 52W High-11.6% 
   50 Days200 Days
DMA Price$145.86$86.95
DMA Trendupup
Distance from DMA5.9%77.7%
 3M1YR
Volatility103.3%99.6%
Downside Capture307.45261.05
Upside Capture693.19413.48
Correlation (SPY)48.9%37.2%
BE Betas & Captures as of 2/28/2026

 1M2M3M6M1Y3Y
Beta3.542.593.784.421.831.96
Up Beta0.48-0.71-1.940.830.380.86
Down Beta2.083.534.034.702.432.23
Up Capture562%746%1000%2187%2291%10955%
Bmk +ve Days9203170142431
Stock +ve Days12243266135375
Down Capture426%55%333%275%147%113%
Bmk -ve Days12213054109320
Stock -ve Days9172958114368

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with BE
BE487.0%99.1%2.24-
Sector ETF (XLI)28.0%19.2%1.1636.4%
Equity (SPY)19.6%18.9%0.8137.7%
Gold (GLD)71.9%26.3%2.0511.9%
Commodities (DBC)19.3%17.3%0.8917.8%
Real Estate (VNQ)6.2%16.3%0.199.8%
Bitcoin (BTCUSD)-15.3%44.2%-0.2523.4%

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Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with BE
BE41.4%84.0%0.78-
Sector ETF (XLI)13.4%17.1%0.6239.1%
Equity (SPY)13.1%17.0%0.6141.1%
Gold (GLD)24.1%17.3%1.1414.5%
Commodities (DBC)11.2%19.0%0.4715.0%
Real Estate (VNQ)4.8%18.8%0.1632.8%
Bitcoin (BTCUSD)6.3%56.7%0.3326.2%

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Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with BE
BE19.1%94.4%0.67-
Sector ETF (XLI)13.8%19.8%0.6136.0%
Equity (SPY)14.5%17.9%0.7038.8%
Gold (GLD)14.4%15.6%0.7711.5%
Commodities (DBC)8.6%17.6%0.4018.1%
Real Estate (VNQ)5.6%20.7%0.2330.2%
Bitcoin (BTCUSD)67.4%66.8%1.0720.1%

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Short Interest

Short Interest: As Of Date2272026
Short Interest: Shares Quantity22.0 Mil
Short Interest: % Change Since 2152026-1.9%
Average Daily Volume10.1 Mil
Days-to-Cover Short Interest2.2 days
Basic Shares Quantity263.9 Mil
Short % of Basic Shares8.4%

Earnings Returns History

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 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
2/5/20264.7%1.8%10.8%
10/28/202518.0%13.9%-10.7%
7/31/2025-1.8%-1.6%41.6%
2/27/20254.3%-2.8%-11.8%
11/7/202423.4%24.5%149.1%
8/8/20249.0%13.7%-7.5%
5/9/2024-4.9%4.2%28.9%
2/15/2024-17.5%-28.3%-18.3%
...
SUMMARY STATS   
# Positive141213
# Negative91110
Median Positive7.2%13.0%22.4%
Median Negative-8.5%-9.7%-11.2%
Max Positive23.4%25.7%149.1%
Max Negative-20.2%-34.9%-28.6%

SEC Filings

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Report DateFiling DateFiling
12/31/202502/09/202610-K
09/30/202510/28/202510-Q
06/30/202507/31/202510-Q
03/31/202504/30/202510-Q
12/31/202402/27/202510-K
09/30/202411/07/202410-Q
06/30/202408/08/202410-Q
03/31/202405/09/202410-Q
12/31/202302/15/202410-K
09/30/202311/08/202310-Q
06/30/202308/03/202310-Q
03/31/202305/09/202310-Q
12/31/202202/21/202310-K
09/30/202211/03/202210-Q
06/30/202208/09/202210-Q
03/31/202205/06/202210-Q

Insider Activity

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#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Chitoori, SatishChief Operations OfficerDirectSell1218202588.1243137,98020,219,046Form
2Kurzymski, MacIejSee RemarksDirectSell1218202586.483,264282,2717,783,632Form
3Joshi, AmanChief Commercial OfficerDirectSell1201202597.8015,0001,467,00020,031,200Form
4Soderberg, Shawn MarieSee RemarksDirectSell11182025108.262,733295,87524,165,364Form
5Soderberg, Shawn MarieSee RemarksDirectSell11182025105.971,583167,75123,486,449Form