Bloom Energy vs Nextpower
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The short version
- Nextpower is the larger business, with $3.6B of revenue in fiscal 2026 against $2.0B for Bloom Energy, about 1.8 times as much.
- Bloom Energy grew revenue faster (37.3%, against 20.3%).
- Nextpower kept more of each dollar of sales as operating profit (19.6% operating margin, against 3.6%).
- Nextpower turned more of its sales into free cash flow (14.4% FCF margin, against 2.8%).
- Nextpower earned a higher return on the capital invested in it (54.5%, against 5.8%).
- Investors pay more for each dollar of Bloom Energyβs earnings: a P/E of 117.9x against 20.4x for Nextpower.
| Latest fiscal year | BE Β· FY25 | NXT Β· FY26 |
|---|---|---|
| Size | ||
| Market cap | $62.7B | $12.2B |
| Revenue | $2.0B | $3.6B |
| Free cash flow | $57.2M | $514M |
| Net income | β$87.1M | $586M |
| Growth | ||
| Revenue growth | 37.3% | 20.3% |
| 5-year growth | 20.6% | β |
| Share count change | 5.7% | 2.3% |
| Profitability | ||
| Gross margin | 29.0% | 32.6% |
| Operating margin | 3.6% | 19.6% |
| Net margin | β4.3% | 16.5% |
| FCF margin | 2.8% | 14.4% |
| Return on capital | 5.8% | 54.5% |
| Return on equity | β13.1% | 29.6% |
| Balance sheet | ||
| Net debt | $173M | β$1.1B |
| Net debt / EBITDA | 1.4x | β1.5x |
| Dividends and buybacks | $0.9M | $0.4M |
| Valuation & quality | ||
| P/E | 117.9x | 20.4x |
| Piotroski F-score | 5 | 3 |
Revenue
FY17
BE $366M
NXT β
FY18
BE $633M
NXT β
FY19
BE $785M
NXT β
FY20
BE $794M
NXT β
FY21
BE $972M
NXT β
FY22
BE $1.2B
NXT β
FY23
BE $1.3B
NXT $1.9B
FY24
BE $1.5B
NXT $2.5B
FY25
BE $2.0B
NXT $3.0B
FY26
BE β
NXT $3.6B
BE
NXT
Operating margin
FY17
BE β42.4%
NXT β
FY18
BE β26.1%
NXT β
FY19
BE β29.7%
NXT β
FY20
BE β10.2%
NXT β
FY21
BE β11.8%
NXT β
FY22
BE β21.8%
NXT β
FY23
BE β15.7%
NXT 8.9%
FY24
BE 1.6%
NXT 23.5%
FY25
BE 3.6%
NXT 21.6%
FY26
BE β
NXT 19.6%
BE
NXT
Free cash flow
FY17
BE β$153M
NXT β
FY18
BE β$137M
NXT β
FY19
BE $113M
NXT β
FY20
BE β$137M
NXT β
FY21
BE β$110M
NXT β
FY22
BE β$309M
NXT β
FY23
BE β$456M
NXT $104M
FY24
BE $33.2M
NXT $423M
FY25
BE $57.2M
NXT $622M
FY26
BE β
NXT $514M
BE
NXT
Return on capital
FY17
BE β
NXT β
FY18
BE β
NXT β
FY19
BE β68.2%
NXT β
FY20
BE β23.2%
NXT β
FY21
BE β43.4%
NXT β
FY22
BE β71.5%
NXT β
FY23
BE β28.7%
NXT β
FY24
BE 2.1%
NXT β
FY25
BE 5.8%
NXT 66.8%
FY26
BE β
NXT 54.5%
BE
NXT
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.