Bloom Energy vs Vicor
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The short version
- Bloom Energy is the larger business, with $2.0B of revenue in fiscal 2025 against $453M for Vicor, about 4.5 times as much.
- Bloom Energy grew revenue faster (37.3%, against 26.1%).
- Vicor kept more of each dollar of sales as operating profit (18.1% operating margin, against 3.6%).
- Vicor turned more of its sales into free cash flow (26.3% FCF margin, against 2.8%).
- Investors pay more for each dollar of Bloom Energyβs earnings: a P/E of 117.9x against 58.7x for Vicor.
| Latest fiscal year | BE Β· FY25 | VICR Β· FY25 |
|---|---|---|
| Size | ||
| Market cap | $62.7B | $8.3B |
| Revenue | $2.0B | $453M |
| Free cash flow | $57.2M | $119M |
| Net income | β$87.1M | $119M |
| Growth | ||
| Revenue growth | 37.3% | 26.1% |
| 5-year growth | 20.6% | 8.8% |
| Share count change | 5.7% | 0.6% |
| Profitability | ||
| Gross margin | 29.0% | 57.3% |
| Operating margin | 3.6% | 18.1% |
| Net margin | β4.3% | 26.2% |
| FCF margin | 2.8% | 26.3% |
| Return on capital | 5.8% | β |
| Return on equity | β13.1% | 18.5% |
| Balance sheet | ||
| Net debt | $173M | β |
| Net debt / EBITDA | 1.4x | β |
| Dividends and buybacks | $0.9M | $35.2M |
| Valuation & quality | ||
| P/E | 117.9x | 58.7x |
| Piotroski F-score | 5 | β |
Revenue
FY16
BE $209M
VICR $200M
FY17
BE $366M
VICR $228M
FY18
BE $633M
VICR $291M
FY19
BE $785M
VICR $263M
FY20
BE $794M
VICR $297M
FY21
BE $972M
VICR $359M
FY22
BE $1.2B
VICR $399M
FY23
BE $1.3B
VICR $405M
FY24
BE $1.5B
VICR $359M
FY25
BE $2.0B
VICR $453M
BE
VICR
Operating margin
FY16
BE β115.6%
VICR β3.2%
FY17
BE β42.4%
VICR β0.6%
FY18
BE β26.1%
VICR 11.0%
FY19
BE β29.7%
VICR 5.3%
FY20
BE β10.2%
VICR 5.9%
FY21
BE β11.8%
VICR 15.5%
FY22
BE β21.8%
VICR 6.8%
FY23
BE β15.7%
VICR 12.7%
FY24
BE 1.6%
VICR β0.4%
FY25
BE 3.6%
VICR 18.1%
BE
VICR
Free cash flow
FY16
BE β$292M
VICR β$7.9M
FY17
BE β$153M
VICR β$15.0M
FY18
BE β$137M
VICR $18.0M
FY19
BE $113M
VICR $9.7M
FY20
BE β$137M
VICR $6.1M
FY21
BE β$110M
VICR $6.7M
FY22
BE β$309M
VICR β$41.0M
FY23
BE β$456M
VICR $41.1M
FY24
BE $33.2M
VICR $27.2M
FY25
BE $57.2M
VICR $119M
BE
VICR
Return on capital
FY16
BE β
VICR β
FY17
BE β
VICR β
FY18
BE β
VICR β
FY19
BE β68.2%
VICR β
FY20
BE β23.2%
VICR β
FY21
BE β43.4%
VICR β
FY22
BE β71.5%
VICR β
FY23
BE β28.7%
VICR β
FY24
BE 2.1%
VICR β
FY25
BE 5.8%
VICR β
BE
VICR
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.