BE financial statements

The full income statement, balance sheet, and cash-flow statement for Bloom Energy Corporation (BE), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

Shares outstanding (point-in-time)

2024-03 227.0M2024-06 227.6M2024-09 228.6M2024-12 230.4M2025-03 232.2M2025-06 234.0M2025-09 236.5M2025-12 280.5M2026-03 284.4M+25.3% over 8 periods

SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.

PeriodRangeOrderChangeYoYQoQFiguresAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021
Income Statement	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Revenue	2.00B YoY+35.8%	1.47B YoY+10.5%	1.33B YoY+11.2%	1.20B YoY+23.3%	972M YoY+22.4%
	587M YoY+45.2%	405M YoY+104.6%	198M YoY+33.4%	148M YoY-24.9%	198M YoY+19.2%
Cost of revenue	1.44B YoY+34.4%	1.07B YoY-5.9%	1.14B YoY+8.1%	1.05B YoY+35.7%	775M YoY+23.3%
	515M YoY+34.8%	382M YoY-6.1%	407M YoY-0.6%	409M YoY+31.1%	312M YoY+26.6%
Research & development	186M YoY+25.1%	149M YoY-4.6%	156M YoY+3.5%	151M YoY+45.7%	103M YoY+23.7%
Selling, general & administrative	198M YoY+20.2%	165M YoY+2.6%	161M YoY-4.1%	168M YoY+37.3%	122M YoY+14.1%
General & administrative	198M YoY+20.2%	165M YoY+2.6%	161M YoY-4.1%	168M YoY+37.3%	122M YoY+14.1%
Selling & marketing	130M YoY+91.5%	68.0M YoY-24.4%	90.0M YoY-1.1%	90.9M YoY+5.1%	86.5M YoY+54.7%
Restructuring	—	0.00 YoY-100.0%	9.30M	—	—
Provision for credit losses	—	4.00M YoY-27.3%	5.50M YoY+37.5%	4.00M	0.00
Operating income	72.8M YoY+217.8%	22.9M YoY+111.0%	-209M YoY+20.0%	-261M YoY-127.9%	-115M YoY-41.7%
Interest expense	53.9M YoY-13.9%	62.6M YoY-42.2%	108M YoY+102.4%	53.5M YoY-22.5%	69.0M YoY-12.4%
Other non-operating income	2.15M YoY-86.5%	15.9M YoY+669.4%	-2.79M YoY-155.9%	5.00M YoY+161.4%	-8.14M YoY+2.2%
Equity-method income	-40.4M	0.00	0.00	—	—
Pre-tax income	-84.4M YoY-220.2%	-26.4M YoY+91.4%	-306M YoY+2.5%	-314M YoY-63.3%	-192M YoY-7.5%
Income tax	2.74M YoY+223.4%	846K YoY-55.3%	1.89M YoY+72.7%	1.10M YoY+4.9%	1.05M YoY+308.6%
	-87.1M YoY-220.3%	-27.2M YoY+91.0%	-302M YoY-0.1%	-302M YoY-83.5%	-164M YoY-4.4%
Net income to non-controlling interest	1.29M YoY-36.1%	2.02M YoY+134.8%	-5.82M YoY+56.5%	-13.4M	—
Preferred dividends	—	—	—	—	0.00
Net income to common	—	—	—	-302M YoY-83.4%	-164M YoY-4.4%
	-$0.37 YoY-184.6%	-$0.13 YoY+90.8%	-$1.42 YoY+12.3%	-$1.62 YoY-70.5%	-$0.95 YoY+16.7%
EPS (basic)	-$0.37 YoY-184.6%	-$0.13 YoY+90.8%	-$1.42 YoY+12.3%	-$1.62 YoY-70.5%	-$0.95 YoY+16.7%
	240M YoY+5.7%	227M YoY+6.9%	213M YoY+14.4%	186M YoY+7.2%	173M YoY+25.0%
	240M YoY+5.7%	227M YoY+6.9%	213M YoY+14.4%	186M YoY+7.2%	173M YoY+25.0%
Dividends per share	$0.00 YoY-47.0%	$0.01	—	—	—
Balance Sheet	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	3.73B YoY+82.5%	2.04B YoY+20.7%	1.69B YoY+60.3%	1.06B YoY+30.9%	806M YoY+30.4%
Cash & equivalents	2.45B YoY+205.7%	803M YoY+20.8%	665M YoY+90.7%	348M YoY-12.0%	396M YoY+60.4%
Accounts receivable	372M YoY+10.7%	336M YoY-1.4%	341M YoY+35.8%	251M YoY+185.9%	87.8M YoY-8.7%
Inventory	643M YoY+18.1%	545M YoY+8.4%	503M YoY+87.2%	268M YoY+87.2%	143M YoY+0.9%
Prepaid expenses	49.8M YoY+7.8%	46.2M YoY-9.7%	51.1M YoY+17.2%	43.6M YoY+42.3%	30.7M YoY-0.2%
	4.40B YoY+65.5%	2.66B YoY+10.1%	2.41B YoY+24.0%	1.95B YoY+12.8%	1.73B YoY+18.6%
Operating lease right-of-use	109M YoY-11.4%	122M YoY-12.3%	140M YoY+10.1%	127M YoY+19.0%	107M YoY+199.4%
Goodwill	—	—	—	—	1.96M
Long-term investments	—	—	—	0.00 YoY-100.0%	1.82M
Other non-current assets	57.2M YoY+24.0%	46.1M YoY-8.1%	50.2M YoY+24.9%	40.2M YoY-2.1%	41.1M YoY+19.0%
Total non-current assets	—	—	—	891M YoY-3.1%	919M YoY+10.0%
	624M YoY-2.0%	637M YoY+35.4%	470M YoY-13.2%	542M YoY+58.2%	342M YoY-21.5%
Accounts payable	203M YoY+119.1%	92.7M YoY-29.8%	132M YoY-18.4%	162M YoY+121.7%	73.0M YoY+25.1%
Short-term & current debt	4.15M YoY-96.4%	114M	0.00 YoY-100.0%	26.0M YoY+0.7%	25.8M YoY-78.6%
Current lease liability	22.0M YoY+12.0%	19.6M YoY-3.0%	20.2M YoY+24.8%	16.2M YoY+23.9%	13.1M YoY+65.9%
Other current liabilities	222M YoY+60.5%	138M YoY+5.8%	131M YoY-9.2%	144M YoY+26.3%	114M YoY+1.9%
Finance lease liability (current)	1.37M YoY+39.7%	981K YoY-8.5%	1.07M YoY+4.7%	1.02M YoY+18.7%	863K YoY+1066.2%
	3.60B YoY+73.9%	2.07B YoY+9.5%	1.89B YoY+20.7%	1.57B YoY+3.2%	1.52B YoY+15.7%
Long-term debt	2.61B YoY+157.7%	1.01B YoY+19.8%	847M YoY+119.6%	386M YoY-23.0%	501M YoY+85.5%
Non-current lease liability	107M YoY-14.1%	125M YoY-12.3%	142M YoY+7.2%	132M YoY+24.7%	106M YoY+153.7%
Operating lease liability (total)	129M YoY-10.6%	144M YoY-11.1%	162M YoY+9.1%	149M YoY+24.6%	119M YoY+139.8%
Finance lease liability (total)	5.22M YoY+52.1%	3.43M YoY+17.9%	2.91M YoY-2.9%	3.00M YoY-0.8%	3.02M YoY+785.6%
Finance lease liability	3.85M YoY+57.1%	2.45M YoY+33.4%	1.84M YoY-6.8%	1.97M YoY-8.6%	2.16M YoY+707.9%
Other non-current liabilities	10.0M YoY+8.8%	9.21M YoY+1.8%	9.05M YoY-4.7%	9.49M YoY-43.4%	16.8M YoY-2.9%
	769M YoY+36.7%	562M YoY+12.0%	502M YoY+47.3%	341M YoY+868.8%	-44.3M YoY-156.2%
Common stock	28.0K YoY+21.7%	23.0K YoY+9.5%	21.0K YoY+5.0%	20.0K YoY+11.1%	18.0K YoY+5.9%
Additional paid-in capital	4.76B YoY+6.6%	4.46B YoY+2.1%	4.37B YoY+11.9%	3.91B YoY+21.4%	3.22B YoY+1.1%
Retained earnings	-3.99B YoY-2.3%	-3.90B YoY-0.8%	-3.87B YoY-8.5%	-3.56B YoY-9.2%	-3.26B YoY-5.1%
Accumulated other comprehensive income	-369K YoY+85.8%	-2.59M YoY-53.7%	-1.69M YoY-34.9%	-1.25M YoY-257.4%	-350K YoY-3788.9%
Non-controlling interest	24.3M YoY+6.9%	22.7M YoY+22.3%	18.6M YoY-51.1%	38.0M YoY-10.5%	42.5M YoY-31.7%
Total equity incl. non-controlling	793M YoY+35.5%	585M YoY+12.4%	521M YoY+37.4%	379M YoY+20834.3%	-1.83M YoY-101.3%
Total liabilities & equity	4.40B YoY+65.5%	2.66B YoY+10.1%	2.41B YoY+24.0%	1.95B YoY+12.8%	1.73B YoY+18.6%
	280M YoY+22.2%	229M YoY+2.0%	225M YoY+9.3%	206M YoY+16.6%	176M YoY+5.0%
	281M YoY+21.8%	230M YoY+2.4%	225M	—	—
Cash Flow	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	114M YoY+23.9%	92.0M YoY+124.7%	-373M YoY-94.3%	-192M YoY-216.0%	-60.7M YoY+38.6%
Depreciation & amortization	50.6M YoY-4.7%	53.0M YoY-15.3%	62.6M YoY+1.6%	61.6M YoY+15.3%	53.5M YoY+2.2%
Deferred income taxes	108K YoY+133.4%	-323K YoY-4137.5%	8.00K YoY+101.8%	-435K YoY-495.9%	-73.0K YoY+69.2%
Change in receivables	35.5M YoY+598.0%	-7.13M YoY-107.9%	89.9M YoY-44.8%	163M YoY+1992.0%	-8.61M YoY-114.0%
Change in inventory	119M YoY+167.7%	44.5M YoY-80.8%	232M YoY+85.5%	125M YoY+14010.5%	885K YoY-97.3%
Change in payables	111M YoY+402.8%	-36.6M YoY-26.0%	-29.1M YoY-133.6%	86.5M YoY+564.5%	13.0M YoY+2192.8%
	-93.1M YoY-58.4%	-58.8M YoY+29.8%	-83.7M YoY+28.3%	-117M YoY-150.2%	-46.7M YoY-23.2%
Capital expenditure	56.8M YoY-3.6%	58.9M YoY-29.7%	83.7M YoY-28.3%	117M YoY+134.5%	49.8M YoY+31.4%
Free cash flow	57.2M YoY+72.5%	33.1M YoY+107.3%	-456M YoY-47.9%	-309M YoY-179.2%	-110M YoY+19.2%
Acquisitions	0.00	0.00	0.00	0.00	0.00
Proceeds from sale of PP&E	131K YoY+87.1%	70.0K YoY+400.0%	14.0K	0.00	0.00
	1.51B YoY+760.9%	175M YoY-74.4%	683M YoY+223.3%	211M YoY-31.0%	306M YoY+74.0%
Long-term debt issued	2.50B YoY+521.1%	403M YoY-36.8%	637M	0.00 YoY-100.0%	136M
Long-term debt repaid	0.00	0.00	0.00	0.00	0.00
Common stock issued	59.1M YoY+378.1%	12.4M YoY-27.0%	16.9M YoY+10.9%	15.3M YoY-83.0%	89.8M YoY+282.2%
Common stock repurchased	0.00	0.00	0.00	0.00	0.00
Dividends paid	947K YoY-35.5%	1.47M	0.00	0.00	0.00
Other financing activities	150K	0.00 YoY+100.0%	-35.0K YoY+53.9%	-76.0K	0.00
FX effect on cash	1.38M YoY+152.4%	-2.63M YoY-835.9%	-281K YoY-164.7%	434K YoY+173.1%	-594K
Net change in cash	1.53B YoY+643.8%	206M YoY-9.3%	227M YoY+334.4%	-96.7M YoY-148.8%	198M YoY+404.6%
Interest paid	49.5M YoY-11.1%	55.7M YoY+11.6%	49.9M YoY+1.9%	49.0M YoY-28.7%	68.7M YoY-4.1%
Income taxes paid	1.71M YoY+19.8%	1.42M YoY-2.1%	1.46M YoY+1.1%	1.44M YoY+149.8%	576K YoY+55.3%
Valuation Ratios	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Market cap	24.4B YoY+376.4%	5.12B YoY+54.3%	3.32B YoY-11.0%	3.73B YoY-3.7%	3.87B YoY-19.6%
P/S	12.2× YoY+250.8%	3.5× YoY+50.7%	2.3× YoY-33.3%	3.5× YoY-13.2%	4.0× YoY-34.3%
P/B	31.7× YoY+248.6%	9.1× YoY+33.5%	6.8× YoY-68.4%	21.6×	—
P/FCF	426.2× YoY+176.1%	154.4×	—	—	—
	0.23% YoY-63.8%	0.65%	—	—	—
	0.00% YoY-86.5%	0.03%	—	—	—
Source filing	10-K	10-K	10-K	10-K	10-K

About this data

Source: BE's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all BE filings on SEC EDGAR → Not investment advice.