Key Stats for Bloom Energy Stock
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Current Price: $193.30
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Target Price (Mid): ~$657
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Street Target: ~$287
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Potential Total Return: ~240%
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Annualized IRR: ~34% / year
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What Happened?
Bloom Energy (BE) carried a forward P/E of around 78x on September 30. At the October 23 close of $193.30, it was around 40x. Two moves did the work in roughly equal measure: the stock fell 30.2%, and TIKR’s next-twelve-months normalized EPS figure rose from around $3.50 to around $4.90.
AI power stocks sold off on October 22 as Meta Platforms’ (META) results reignited AI spending concerns, and Bloom closed at $217.77 before its report. It fell another 11.24% on October 23 despite record quarterly revenue of $1.24 billion and a third 2026 guidance raise, while GE Vernova (GEV) slipped 1.50%. Coverage tied the drop to a $27 million operating cash outflow, which TIKR covered that day, plus valuation and broader AI sentiment.
Q3 Operating Income Topped All of 2025, Which Is Why Estimates Rose
Product revenue crossed $1 billion for the first time. Non-GAAP operating income reached $285.7 million, up more than 500%, while non-GAAP operating expenses grew 26% against revenue growth of 138.1%. Non-GAAP operating margin hit 23.1%, and Q3 operating income alone exceeded Bloom’s total for all of 2025.
“That is the operating leverage embedded in our model now showing up in the results,” CFO Simon Edwards said on the October 22 call. Non-GAAP product gross margin rose 120 basis points from Q2 to 38.4%, even as Bloom ramped new lines and expedited deliveries. Management raised non-GAAP operating income guidance to $960 million to $1.03 billion.
Bloom funded $231 million of year-to-date capex from operations and ended September with $2.5 billion of cash, though its convertible notes leave TIKR’s LTM net debt at $299.89 million. At around 40x forward earnings, the stock now trades about level with GE Vernova’s around 39x on TIKR’s Competitors page. The Street models Bloom’s revenue compounding around 86% a year from 2025 to 2027.
TIKR tracks 29 analysts on Bloom Energy. How many say “Buy”? See the full breakdown of Buy, Hold, and Sell ratings on Bloom Energy, along with Wall Street’s revenue and earnings estimates, all in one place. More than 500,000 investors use TIKR to research stocks like this one. See Bloom Energy’s Analyst Ratings
Sridhar Is Already Preparing for Life After 5 Gigawatts
Asked why Bloom is expanding in Fremont now, CEO K.R. Sridhar said the 5-gigawatt milestone is in sight, and Bloom must prepare for what follows. He described adding capacity as a dial, not a step, and said Bloom will “never go past our headlights.”
