Bloom Energy

0.63 (10.68%)

NYSE:BE | Last traded on 11-15-2019 4:02 PM

Market Reaction

Offer Price

$15.00

Today Open Price

$6.02

Change Since IPO

Market Cap

$850.5M

Day High

$6.63

Day Low

$6.01

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Featured Analysis

Another California company that goes public before it should. The company is losing tons of money (although I should say that their margins are improving). There is something about a company that is losing as much money as it generates in sales that bothers me. I am giving it two Hippos because I confess to now knowing the energy sector well, and at least the valuation relative to sales is not other worldly.

Company Data

Location

San Jose, CA

Valuation

$270M

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Founded

2001

Total Shares Offered

18,000,000

-

Employees

1,409

IPO Date

2018-07-25

Background Information

Bloom Energy Corporation produces and sells solid-oxide fuel cells for local power generation, called the Bloom Energy Box. The alternative energy technology is used by a plethora of industries, including banking and finance to construction to healthcare, serving companies such as Walmart, AT&T, Bank of America, and Google.

Financial Analysis

Years 2016 2017
Revenue growth -- 80%
Net profit margin -161%-75%
Valuation -- $1.6B
Revenue multiple -- 4.3x
Profit multiple ---5.7x

Financial Information

Income Statement ($M) 2016 2017
Revenue209376
Costs of goods sold312394
Gross profit(103)(18)
Total operating expense137139
EBIT(241)(157)
Pretax profit(336)(281)
Net income(336)(281)
Balance Sheet ($M) 2016 2017
Total current assets392420
Cash and cash equivalents157104
Total assets1,2041,221
Total current liabilities261271
Total liabilities1,4631,722
Total shareholder equity1,7251,966
Total liabilities and equity1,2041,221
Cash Flow Statement ($M) 20162017
Net cash from operating activities (283)(67)
Net cash from investing activities (9)(32)
Net cash from financing activities 28362
Net increase in cash and cash equivalents (8)(37)