Bloom Energy EPS to Soar 81.6% in 2026, Shares Rally 54.4%
Bloom Energy's EPS projections for fiscal 2026 and 2027 imply year-over-year increases of 81.6% and 108.5%, respectively, outpacing FuelCell Energy's 44.9% and 6.9% growth. Despite a debt-to-capital ratio of 76.8%, Bloom's 4.1% ROIC and 54.4% three-month share rally support its 13.3x forward price/sales valuation.
1. Earnings Outlook
Bloom Energy's fiscal 2026 EPS estimate implies an 81.6% year-over-year increase, followed by a 108.5% jump in 2027, outstripping FuelCell Energy's projected 44.9% and 6.9% growth. These forecasts reflect accelerating demand for its solid oxide fuel cells and advancements in green hydrogen electrolysis.
2. Capital Structure and Returns
The company carries a 76.75% debt-to-capital ratio, funding ambitious expansion of its electrolyzer and on-site power platforms, while delivering a 4.12% return on invested capital. This leverage drives growth but raises coverage and execution risk if project timelines slip.
3. Share Performance and Valuation
Bloom Energy shares have climbed 54.4% over the past three months and trade at a 13.3x forward price/sales multiple, a premium to peers. The valuation reflects investor confidence in its robust backlog of corporate and data center power contracts and supportive policy framework.