Bloom Energy's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Bloom Energy (BE) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: Bloom Energy vs Its Competitors
- TTM: Trailing 12-month revenue of 2,449M vs 33M combined for tracked competitors (98.7% combined share).
- Trending: Latest-quarter revenue run-rate is accelerating (+22.7% annualized vs trailing 12 months), vs holding steady (-0.1%) for its tracked peer group.
- Growth: Bloom Energy generated 130.4% revenue growth year over year in Q1 2026, vs 88.9% for its tracked competitors combined.
- Profitability: Its 9.8% net margin compares with -224.3% for the peer group.
- Scale: Bloom Energy ranks #6 of 143 companies by market capitalization in the Industrial Machinery and Components industry, holding 4.0% of industry market cap.
- Peer revenue share: Bloom Energy accounted for 98.9% of combined revenue among its tracked peer group, up from 98.7% a year earlier.
- Peer differentiation: Revenue per employee of $1.11M compares with $0.16M for the peer group (6.7x).
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
BE Sales vs. its Competitors, Q1 2026
Bloom Energy reported revenue growth of 130.37 % year on year in Q1 2026, above its competitors' combined revenue growth of 88.89 %.
With a net margin of 9.81 %, Bloom Energy achieved higher profitability than its competitors (-224.29 %).
Bloom Energy generated 98.92 % of the combined sales of its peer group, up from 98.68 % a year earlier.
Bloom Energy vs. its Competitors, Q1 2026
Revenue growth, year on year
Net margin
Revenue run-rate vs trailing 12 months
TTM net margin
TTM = trailing twelve months. Run-rate annualizes the latest quarter (×4) and compares it to TTM. In millions of $. High-Confidence Competitors are named as a competitor directly in an SEC filing; Similar-Size Competitors are the closest peers by market-cap rank within the same industry; Similar Growth & Profitability Competitors are the closest peers by combined revenue growth, operating margin and ROIC, all independent of the competitor list.
TTM revenue, latest-quarter run-rate and net income/margin benchmarked across Bloom Energy and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| Bloom Energy Corporation | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
| High-Confidence Competitors (2) | $12,345M | +12.3% · Accelerating |
| Similar-Size Competitors (8) | $12,345M | +12.3% · Accelerating |
| Similar Growth & Profitability (4) | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across Bloom Energy's competitor groups requires a Commercial License.
For context: the Industrial Machinery and Components industry grew revenue 12.4% year over year, combined, vs 130.4% for Bloom Energy. Bloom Energy's share of combined industry revenue moved from 0.26% to 0.54%, a gain of 0.28 percentage points.
Bloom Energy's Competitor Quality Breadth
Share of each group, trailing 12 months: profitable (net margin > 0), expanding (revenue growth > 0), growing faster than the industry's own median, and financially distressed (Piotroski F-Score of 2 or below).
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Bloom Energy Corporation | Yes | Yes | Yes | No |
| Competitors combined (5) | ||||
| High-Confidence Competitors (3) | ||||
| Similar-Size Competitors (10) | ||||
| Similar Growth & Profitability (8) | 87.50 % (7 of 8) | 100.00 % (8 of 8) | 100.00 % (8 of 8) | 14.30 % (1 of 7) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
BE Stock Performance relative to its Competitors
BE Stock Performance relative to High-Confidence Competitors
BE Stock Performance relative to Similar-Size Competitors
BE Stock Performance relative to Similar Growth & Profitability Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | Hyliion Holdings Corp | 282.9% | Outperformed |
| 2 | Yunhong Green Cti Ltd | 282.9% | Outperformed |
| 3 | Lightbridge Corporation | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Bloom Energy's best-performing tracked competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Bloom Energy's Comment on Competition and Industry Peers
Publicly Traded Peers of Bloom Energy Corporation
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
| Bloom Energy Corporation | 84,041.64 | 2,449.03 |
| Hyliion Holdings Corp | 706.63 | 8.70 |
| Lightbridge Corporation | 206.76 | 0.18 |
| Yunhong Green Cti Ltd | 6.00 | 20.66 |
| Brenmiller Energy Ltd | 0.05 | 0.39 |
| Flywheel Advanced Technology Inc | - | 3.38 |
| SUBTOTAL | 84,961.07 | 2,482.34 |
Sources: Bloom Energy Corporation's official press releases and regulatory filings; CSIMarket.com's market research; and the financial filings and press releases of the other companies cited.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Bloom Energy Corporation versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Bloom Energy's Competitors Named by the Company
Competitive relationships identified from SEC filings and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| Hyliion Holdings Corp | Named by the company | 85% |
| Medicine Man Technologies inc | Named by the company | 85% |
| Fuelcell Energy inc | Named by the company | 85% |
Filing basis, confidence, active dates and source counts for Bloom Energy's named competitors require a Commercial License.
Methodology: relationships are extracted from SEC filings (named-competitor disclosures) and corroborating sources. Named by the company = explicitly disclosed as a competitor; Inferred = derived from corroborating signals. Confidence reflects evidence strength.
Bloom Energy's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| Bloom Energy Corporation | 84,042 | 1,106,155 | 4,501 |
| Hyliion Holdings Corp | 707 | 77,027 | -461,814 |
| Lightbridge Corporation | 207 | 13,496 | -1,799,096 |
| Yunhong Green Cti Ltd | 6 | 397,346 | -55,750 |
| Brenmiller Energy Ltd | 0 | 15,480 | -934,400 |
| Flywheel Advanced Technology Inc | - | - | - |
| PEERS TOTAL | 919 | 164,089 | -529,293 |
Bloom Energy's Position in Industry Market Structure
Market-capitalization share and concentration across all 128 companies in Bloom Energy's industry classification, broader than the peer set above. Market cap in millions of $.Bloom Energy ranks #6 of 128 companies by market capitalization in its industry, holding 4.01 % of total industry market cap. The industry's Herfindahl-Hirschman Index (HHI) is 1,546, indicating a moderately concentrated market structure (U.S. antitrust guidance: below 1,500 unconcentrated, 1,500 to 2,500 moderately concentrated, above 2,500 highly concentrated).
| Rank | Company | Market Cap | Industry Share |
|---|---|---|---|
| 1 | Asml Holding Nv | 683,986 | 31.64 % |
| 2 | Lam Research Corporation | 396,692 | 18.35 % |
| 3 | Deere and Co | 185,991 | 8.60 % |
| 4 | Eaton Corporation Plc | 171,770 | 7.95 % |
| 5 | Cae Inc | 1,234 | 5.2% |
| 6 | Bloom Energy Corporation | 86,628 | 4.01 % |
| 7 | Illinois Tool Works Inc | 1,234 | 5.2% |
| 8 | Carrier Global Corporation | 1,234 | 5.2% |
| 9 | Ingersoll Rand Inc | 1,234 | 5.2% |
| 10 | Nvent Electric Plc | 1,234 | 5.2% |
Market cap and industry share for the rest of Bloom Energy's industry peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation) across CSIMarket's industry classification, market capitalization as of 2026-09-28.
Bloom Energy's Same-Size Peers & Stock Performance
Peers chosen by closeness in market-cap rank within the same industry classification (not the named-competitor list above). Trailing 12-month total return, 3-month price momentum, beta and Sharpe ratio vs the broad U.S. market.| Rank | Company | Market Cap | TTM Return |
|---|---|---|---|
| 1 | Asml Holding Nv | 683,986 | 85.22 % |
| 2 | Lam Research Corporation | 396,692 | 145.50 % |
| 3 | Deere and Co | 185,991 | 47.22 % |
| 4 | Eaton Corporation Plc | 171,770 | 20.91 % |
| 5 | Cae Inc | 1,234 | 12.3% |
| 6 | Bloom Energy Corporation | 86,628 | 294.47 % |
| 7 | Illinois Tool Works Inc | 1,234 | 12.3% |
| 8 | Carrier Global Corporation | 1,234 | 12.3% |
| 9 | Ingersoll Rand Inc | 1,234 | 12.3% |
| 10 | Nvent Electric Plc | 1,234 | 12.3% |
| 11 | Dover Corp | 1,234 | 12.3% |
Market cap, return, momentum, beta and Sharpe ratio for the rest of Bloom Energy's same-size peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation); returns and risk metrics as of 2026-09-28. Beta and Sharpe ratio are versus the broad U.S. equity market, not this industry.
Bloom Energy's Profitability & Cost Structure
Trailing 12-month margins from SEC-filed financials. Operating margin is compared to the Industrial Machinery and Components industry median; gross margin, EBITDA margin and capital intensity are compared to the live industry average (166 companies).| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | 29.57 % | 28.58 % (avg) | +1.0 pp |
| Operating Margin | 6.70 % | industry median | +0.0 pp |
| EBITDA Margin | 5.74 % | 3.86 % (avg) | +1.9 pp |
| Capital Intensity (Capex / Revenue) | 2.80 % | 5.98 % (avg) | -3.2 pp |
Source: CSIMarket API, trailing 12 months. SG&A and R&D as a share of revenue have limited coverage as this data is backfilled and appear only where reported. Higher capital intensity is not inherently negative; it reflects the industry's asset requirements.
Bloom Energy's Valuation vs Competitive Position
Valuation multiples vs the Industrial Machinery and Components industry average (166 companies, excluding loss-making/negative-equity outliers), alongside returns on capital for context on whether a premium or discount lines up with measurably stronger or weaker returns.| Metric | Company | Industry Average | Difference |
|---|---|---|---|
| P/E | - | 33.3x | - |
| EV / EBITDA | 371.8x | 19.5x | +352.3x |
| P/B | 70.9x | 4.0x | +66.8x |
| Return on Equity | 1.31 % | industry aggregate | -14.16 % |
| Return on Invested Capital | 4.30 % | 1.28 % (avg) | 3.02 % |
Source: CSIMarket API, trailing 12 months. A valuation premium or discount is not, by itself, a judgment of over- or under-valuation. Compare it against the return and growth context shown elsewhere on this page.
Bloom Energy's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in SEC filings.| Metric | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Revenue Growth | - | - | 22.40 % | 23.34 % | 11.20 % | 10.53 % | 37.33 % |
| Operating Margin | - | -10.17 % | -11.78 % | -21.77 % | -15.67 % | 1.55 % | 3.60 % |
| Return on Invested Capital | - | -8.81 % | -10.30 % | -17.63 % | -9.11 % | 0.88 % | 2.23 % |
| P/E | - | - | - | - | - | - | - |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
Bloom Energy's Strategic Group Map
Every company in Bloom Energy's industry and named-competitor list, plotted by trailing 12-month revenue growth and operating margin. Bloom Energy is shown in red; its closest peers by combined growth, margin and ROIC (the Similar Growth & Profitability group above) are labeled.
Source: CSIMarket API, trailing 12 months. Extreme outlier values (from near-zero-revenue companies) are excluded from the plotted cloud but never from the highlighted company or its labeled peers.
Bloom Energy's BCG Growth-Share Matrix
Relative market share (vs Bloom Energy's largest competitor by market cap) against industry revenue growth, using the standard textbook thresholds (1.0x share, 10% growth) a common framework, not a precision instrument.
Bloom Energy falls in the Dog quadrant: relative market share of 0.13x vs its largest competitor, in an industry growing revenue 7.4% (median, trailing 12 months).
Source: CSIMarket API (market-cap share and industry revenue growth). The 10% growth and 1.0x share lines are standard textbook thresholds, not derived from this industry's own distribution.
Bloom Energy's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Competitive Rivalry | Moderate | Industry HHI of 1,546 (see Industry Market Structure & Concentration above) |
| Barriers to Entry | Lower than typical for the industry | Capital intensity (capex / revenue) of 2.80 % vs industry average 5.98 % (see Profitability & Cost Structure above) |
| Supplier Power | Not covered on this page | See Bloom Energy's dedicated suppliers page for concentration and dependency data |
| Buyer Power | Not covered on this page | See Bloom Energy's dedicated customers page for concentration and dependency data |
| Threat of Substitutes | - | No systematic data source for cross-product substitution exists in this system; not estimated |
Note: this is a partial, data-grounded application of the framework, not a complete strategic assessment. Rivalry and barriers-to-entry readings are mechanical translations of the HHI and capital-intensity figures shown elsewhere on this page, not independent judgments.
Bloom Energy's Industry Attractiveness & Competitive Strength
A CSIMarket composite, not a standard field: each axis is an equal-weighted average of three factors already shown elsewhere on this page (industry growth, industry profitability and rivalry for attractiveness; relative market share, profitability and growth vs industry for strength). Disclosed as a designed methodology, not a precision measurement.
Bloom Energy falls in the Medium attractiveness / Medium strength cell: Selective.
Source: CSIMarket API, trailing 12 months. Each axis score is a simple 1(low)/2(medium)/3(high) average across its three inputs -- a transparent, disclosed simplification, not a validated academic scoring model.
Bloom Energy's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
- Latest-quarter revenue run-rate is accelerating (+22.7% annualized vs trailing 12 months).
- Outperforming the U.S.A. 500 over the trailing 12 months.
Weaknesses
- Return on equity 14.2 points below the industry aggregate.
- Low relative market share vs the industry leader (0.13x).
Opportunities
- A meaningful share of tracked competitors (40.00 %) show financial-distress signals, a possible opening to gain share.
Threats
No rule matched.
Methodology: mechanical, rule-based SWOT. Each bullet reuses a figure already sourced and cited elsewhere on this page; nothing here is generated narrative or independent analyst judgment.
Bloom Energy's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| Bloom Energy Corporation | 2.70 | 5.15 | - |
| Hyliion Holdings Corp | 1.99 | 9.68 | - |
| Lightbridge Corporation | 33.78 | 141.48 | - |
| Yunhong Green Cti Ltd | 0.03 | 1.42 | 0.17 |
| Brenmiller Energy Ltd | 1.02 | 1.33 | 1.91 |
| Flywheel Advanced Technology Inc | 0.01 | 0.02 | - |
Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
Bloom Energy's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| Bloom Energy Corporation | Q1 2026 | +130.4 % | - |
| Hyliion Holdings Corp | Q2 2026 | +337.1 % | - |
| Lightbridge Corporation | Q2 2026 | - | - |
| Yunhong Green Cti Ltd | Q2 2026 | -21.7 % | - |
| Brenmiller Energy Ltd | Q4 2025 | +80.8 % | - |
| Flywheel Advanced Technology Inc | Q2 2026 | - | - |
| PEERS TOTAL | +128.8 % | - |
Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Bloom Energy's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| Bloom Energy Corporation | Q1 2026 | +121.4 % | +83.6 % |
| Hyliion Holdings Corp | Q2 2026 | +357.8 % | -95.0 % |
| Lightbridge Corporation | Q2 2026 | - | -97.1 % |
| Yunhong Green Cti Ltd | Q2 2026 | -15.9 % | -86.4 % |
| Brenmiller Energy Ltd | Q4 2025 | +265.1 % | -64.9 % |
| Flywheel Advanced Technology Inc | Q2 2026 | - | - |
Bloom Energy's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Bloom Energy Corporation | 0.28% | 0.33% | 1.31% |
| Hyliion Holdings Corp | - | - | - |
| Lightbridge Corporation | - | - | - |
| Yunhong Green Cti Ltd | - | - | - |
| Brenmiller Energy Ltd | - | - | - |
| Flywheel Advanced Technology Inc | - | - | - |
ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
Bloom Energy's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Bloom Energy Corporation | - | 34.32 |
| Hyliion Holdings Corp | - | 81.18 |
| Lightbridge Corporation | - | 1,178.46 |
| Yunhong Green Cti Ltd | - | 0.29 |
| Brenmiller Energy Ltd | - | 0.13 |
| Flywheel Advanced Technology Inc | - | - |
| PEERS AVERAGE | - | 34.23 |
P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.