What Is Driving The Move In Bloom Energy Stock?
Over the year ending October 12, 2026, Bloom Energy (BE) stock returned 201.9%, outpacing the 20.5% return for the S&P 500. The company announced a partnership with Brookfield Asset Management on October 13, 2025, and more agreements soon followed. So what were those deals, and how much have Bloom’s sales and profit grown since?
What Deals Did Bloom Energy Sign?
Bloom initially secured a financing partner before expanding an agreement with a major cloud computing client. The Brookfield partnership was worth $5 billion when Bloom first announced it, and shares rose 22% at the open that day.
It helps to understand the mechanics of this partnership, because Brookfield does not actually consume the power. Instead, the firm purchases fuel cell equipment from Bloom, maintains ownership, and supplies the end customer under a contract that Bloom arranged. Management detailed this arrangement during the July 28, 2026 call, clarifying that Brookfield provides the capital for the hardware Bloom sells. In June 2026, Brookfield raised its commitment fivefold to $25 billion.
Oracle is the cloud customer. Bloom announced an expanded partnership with the technology company on April 13, 2026, and the stock advanced 23% in trading the next day. Under the agreement, Oracle plans to buy up to 2.8 gigawatts of Bloom’s fuel cell systems.
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Bloom Energy Passed $1 Billion In Quarterly Revenue
The company generated $1.065 billion in revenue during the second quarter of fiscal 2026. That represents a 166% increase from a year earlier. Management described the performance as a record quarter during the July 28, 2026 call, pointing to faster deliveries to data centers. Revenue over the last twelve months reached $3.1 billion, compared to $1.6 billion in the prior twelve-month period.
Profit grew at a steeper rate than sales. Bloom kept 11.2% of its revenue as operating profit over the last twelve months, a substantial increase from 4.4% a year earlier. Two years ago, Bloom ran an operating loss, so its profits are recent.
What Has Not Changed At Bloom Energy?
Investors are paying a much higher price for the stock, even as the margin outlook remains unchanged. Bloom stock currently trades at 307.6 times earnings, against 21.9 for the S&P 500, so the price appears to assume profits far above today’s. Going forward, Bloom’s gross margin, measured against the roughly 34% management expects for 2026, is the number to watch in its next quarterly report.
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