There's a lot to like about this hydrogen stock, but one factor may charge up investors to look elsewhere.
There's a lot to like about this hydrogen stock, but one factor may charge up investors to look elsewhere.
While many fuel cell investors are still waiting for their investments to flourish, Bloom Energy (BE +3.97%) shareholders have enjoyed an impressive performance of late. Since the start of 2026, Bloom Energy shares have soared more than 166%.
But it's foolish to assume that simply because Bloom Energy shares have rocketed higher, the stock is a screaming buy. Let's take a closer look at both the good and the bad ahead of the company's reporting of its third-quarter 2026 financial results on Oct. 22.
Generating steady free cash flow distinguishes Bloom from fuel cell peers
When evaluating the fundamentals of companies, investors can sometimes struggle to find any semblance of financial well-being. But that's hardly the case with Bloom Energy.
BE Revenue (Annual) data by YCharts.
From growing both revenue and earnings before interest, taxes, depreciation, and amortization (EBITDA) to maintaining a strong balance sheet (Bloom's net debt-to-EBITDA ratio was a conservative 0.35 at the end of Q2 2026), there are numerous indications of the company's impressive financial health. It's what's found on the cash-flow statement, however, that stands out as a bright, green flag.
Generating $175 million in free cash flow for Q2 2026, Bloom Energy has repeatedly produced free cash flow on a trailing-12-month basis for more than a year, proving that its ability to generate organic cash is more than a flash in the pan.
BE Free Cash Flow data by YCharts.
Plus, Bloom Energy's consistent free-cash-flow generation is uncommon among hydrogen-focused companies like Plug Power and FuelCell Energy, which have resorted to raising capital through substantial equity and debt issuances to keep the lights on.
Averytin News Financial update.