Tearsheet

Brenmiller Energy (BNRG)


Market Price (11/18/2025): $1.21 | Market Cap: $0.4 Mil
Sector: Utilities | Industry: Renewable Electricity

Brenmiller Energy (BNRG)


Market Price (11/18/2025): $1.21
Market Cap: $0.4 Mil
Sector: Utilities
Industry: Renewable Electricity

Investment Highlights Why It Matters Which of these 2 stories sounds closer for this stock?

1. Generates cash flow

The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.

2. Riding a trend

Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow


0 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -211%
Weak multi-year price returns
2Y Excs Rtn is -147%, 3Y Excs Rtn is -168%
Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -11 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -1962%
1 Megatrend and thematic drivers
Megatrends include Renewable Energy Transition, Energy Transition & Decarbonization, and Smart Grids & Grid Modernization. Themes include Thermal Energy Storage, Show more.
  Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -64%, Rev Chg QQuarterly Revenue Change % is -61%
2   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 -2821%
3   High stock price volatility
Vol 12M is 125%
0 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -211%
1 Megatrend and thematic drivers
Megatrends include Renewable Energy Transition, Energy Transition & Decarbonization, and Smart Grids & Grid Modernization. Themes include Thermal Energy Storage, Show more.
2 Weak multi-year price returns
2Y Excs Rtn is -147%, 3Y Excs Rtn is -168%
3 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -11 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -1962%
4 Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -64%, Rev Chg QQuarterly Revenue Change % is -61%
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 -2821%
6 High stock price volatility
Vol 12M is 125%

Market Valuation & Key Metrics

BNRG Stock


Why The Stock Moved


Qualitative Assessment

AI Generated Analysis | Feedback

Here are five key points explaining Brenmiller Energy's (BNRG) stock movement of -30.2% from July 31, 2025, to November 18, 2025: 1. Significant Increase in Net Loss and Operating Loss in H1 2025. Brenmiller Energy reported its financial results for the first half of 2025 on September 30, 2025. The company announced an operating loss of $6.57 million for the six months ended June 30, 2025, which was an increase from $5.38 million in the same period of 2024. Furthermore, the net loss widened substantially to $7.45 million, compared to $1.58 million in the first half of 2024.

2. Dilutive Equity Financing Agreement. On July 28, 2025, Brenmiller Energy signed a private placement agreement for up to $25 million in equity financing with an institutional shareholder. By September 30, 2025, the company had closed two funding rounds totaling $5.2 million as part of this agreement. While securing funding, equity financing can lead to the dilution of existing shares, potentially exerting downward pressure on the stock price.

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Stock Movement Drivers

Return vs. Risk


Price Returns Compared

 202020212022202320242025Total [1]
Returns
BNRG Return----57%-78%-82%-98%
Peers Return21%-7%-18%-14%-19%59%2%
S&P 500 Return16%27%-19%24%23%13%107%

Monthly Win Rates [3]
BNRG Win Rate--43%25%33%30% 
Peers Win Rate42%23%25%40%50%74% 
S&P 500 Win Rate58%75%42%67%75%70% 

Max Drawdowns [4]
BNRG Max Drawdown----61%-89%-81% 
Peers Max Drawdown-14%-15%-29%-27%-32%-30% 
S&P 500 Max Drawdown-31%-1%-25%-1%-2%-15% 


[1] Cumulative total returns since the beginning of 2020
[2] Peers: ELLO, STEM, BEPC, ORA, ENLT.
[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] 2025 data is for the year up to 11/17/2025 (YTD)

How Low Can It Go

Unique KeyEventBNRGS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-87.8%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven719.4%34.1%
2022 Inflation ShockTime to BreakevenTime to BreakevenNot Fully Recovered days464 days

Compare to ELLO, STEM, BEPC, ORA, ENLT


In The Past

Brenmiller Energy's stock fell -87.8% during the 2022 Inflation Shock from a high on 5/25/2022. A -87.8% loss requires a 719.4% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth over time.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Brenmiller Energy (BNRG)

Better Bets than Brenmiller Energy (BNRG)

Latest Trefis Analyses

Title
0ARTICLES

Trade Ideas

Select past ideas related to BNRG. For more, see Trefis Trade Ideas.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
PCG_9262025_Dip_Buyer_ValueBuy09262025PCGPG&EDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin
10.3%10.3%0.0%
AES_9052025_Dip_Buyer_ValueBuy09052025AESAESDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin
8.2%8.2%-3.2%
VST_5312025_Quality_Momentum_RoomToRun_10%05312025VSTVistraQualityQ | Momentum | UpsideQuality Stocks with Momentum and Upside
Buying quality stocks with strong momentum but still having room to run
9.0%9.0%0.0%
Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
PCG_9262025_Dip_Buyer_ValueBuy09262025PCGPG&EDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin
10.3%10.3%0.0%
AES_9052025_Dip_Buyer_ValueBuy09052025AESAESDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin
8.2%8.2%-3.2%
VST_5312025_Quality_Momentum_RoomToRun_10%05312025VSTVistraQualityQ | Momentum | UpsideQuality Stocks with Momentum and Upside
Buying quality stocks with strong momentum but still having room to run
9.0%9.0%0.0%

Recent Active Movers

Recent Active Movers

More From Trefis

Peer Comparisons for Brenmiller Energy

Financials

BNRGELLOSTEMBEPCORAENLTMedian
NameBrenmill.Ellomay .Stem Brookfie.Ormat Te.Enlight . 
Mkt Price1.2020.4015.5742.59107.6437.8129.11
Mkt Cap0.00.30.17.66.54.52.4
Rev LTM1411653,777944450307
Op Inc LTM-11-1-9488817919889
FCF LTM--81-24-749-214-426-214
FCF 3Y Avg--59-10730-237-466-107
CFO LTM-13-16352389193193
CFO 3Y Avg-8-941,027342164164

Growth & Margins

BNRGELLOSTEMBEPCORAENLTMedian
NameBrenmill.Ellomay .Stem Brookfie.Ormat Te.Enlight . 
Rev Chg LTM-64.4%-5.0%-35.6%-10.5%6.1%43.8%-7.7%
Rev Chg 3Y Avg--8.4%-2.0%0.8%9.5%52.0%0.8%
Rev Chg Q-61.3%0.6%30.5%-10.6%17.9%37.1%9.2%
QoQ Delta Rev Chg LTM-61.3%0.2%5.7%-2.8%4.2%7.5%2.2%
Op Mgn LTM-1,962.2%-1.8%-57.3%23.5%19.0%44.1%8.6%
Op Mgn 3Y Avg--3.2%-55.1%25.8%20.5%42.6%20.5%
QoQ Delta Op Mgn LTM-1,312.6%0.8%20.9%-1.2%-0.3%1.3%0.3%
CFO/Rev LTM-30.5%-9.7%9.3%41.2%43.0%30.5%
CFO/Rev 3Y Avg-19.0%-24.4%25.8%38.7%50.8%25.8%
FCF/Rev LTM--196.7%-14.8%-19.8%-22.6%-94.8%-22.6%
FCF/Rev 3Y Avg--135.9%-29.1%0.6%-27.8%-154.9%-29.1%

Valuation

BNRGELLOSTEMBEPCORAENLTMedian
NameBrenmill.Ellomay .Stem Brookfie.Ormat Te.Enlight . 
Mkt Cap0.00.30.17.66.54.52.4
P/S0.86.30.82.06.910.04.2
P/EBIT-0.025.41.16.225.914.710.5
P/E-0.0-54.71.3-8.749.039.20.6
P/CFO-20.8-8.121.716.823.420.8
Total Yield-2,816.6%-1.8%78.7%-11.5%2.5%2.6%0.3%
Dividend Yield0.0%0.0%0.0%0.0%0.4%0.0%0.0%
FCF Yield 3Y Avg--30.3%-714.2%--5.0%-21.3%-25.8%
D/E12.32.12.54.70.40.92.3
Net D/E-2.12.02.14.40.40.81.4

Returns

BNRGELLOSTEMBEPCORAENLTMedian
NameBrenmill.Ellomay .Stem Brookfie.Ormat Te.Enlight . 
1M Rtn-29.4%4.2%-34.2%6.6%-0.9%11.0%1.7%
3M Rtn-40.3%13.6%8.1%27.7%17.3%37.2%15.5%
6M Rtn-58.6%31.9%44.7%44.2%43.6%100.1%43.9%
12M Rtn-66.2%43.7%120.5%-37.2%133.0%43.7%
3Y Rtn-98.7%13.6%-94.1%-20.8%--40.3%
1M Excs Rtn-29.5%4.1%-34.3%6.5%-1.0%10.9%1.6%
3M Excs Rtn-45.0%12.5%3.0%24.2%12.2%36.5%12.4%
6M Excs Rtn-70.5%20.0%32.8%32.3%31.7%88.2%32.0%
12M Excs Rtn-79.0%34.7%96.1%-25.4%126.3%34.7%
3Y Excs Rtn-167.6%-54.5%-162.8%--59.0%--110.9%

Financials

Price Behavior

Short Interest

Short Interest: As Of Date10312025
Short Interest: Shares Quantity31,145
Short Interest: % Change Since 10152025-47.2%
Average Daily Volume47,918
Days-to-Cover Short Interest1
Basic Shares Quantity368,913
Short % of Basic Shares8.4%

SEC Filings

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Report DateFiling DateFiling
630202593020256-K 6/30/2025
12312024304202520-F 12/31/2024
630202482920246-K 6/30/2024
12312023318202420-F 12/31/2023
630202381120236-K 6/30/2023
331202352520236-K 3/31/2023
12312022322202320-F 12/31/2022
9302022112320226-K 9/30/2022
630202281120226-K 6/30/2022
331202260120226-K 3/31/2022

Insider Activity

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