Bloom Energy discounted 2028 enterprise valuation

Sources

1. October 8 Model Edge reference BE price $272.82, refreshed 2026-10-08T15:00:48.96652-06:00. Market-relative outputs use this quote; intrinsic assumptions only change on evidence. (accessed 2026-10-08)
2. September 29 Modeledge reference BE stock price $291.25, retrieved 2026-09-29T15:15:02.504739-06:00; a post-session reference snapshot, not an asserted official close. No operating or intrinsic valuation inputs changed in this review. (accessed 2026-09-29)
3. September 29: BE rose 10.80% to the $291.25 reference quote. The City of Fremont confirms a 158,000-square-foot facility expansion; RBC's reiterated Outperform/$335 target and Oracle reassurances are reported market catalysts, not new quantified revenue guidance. Sources differ on acquisition versus lease, so no capital commitment is invented. Preserve $4,050M FY2026 revenue, 40%/25% forward growth and current valuation multiples; signed economics, permitting and Oracle milestones remain open. — es.linkedin.com (accessed 2026-09-29)
4. Additional supporting record for the September 29 BE review. — ca.investing.com (accessed 2026-09-29)
5. September 28 Modeledge reference BE stock price $262.87, retrieved 2026-09-28T16:46:37.70145-06:00; a post-session reference snapshot, not an asserted official close. Operating assumptions are unchanged except separately documented updates. (accessed 2026-09-28)
6. September 28: investigated the 8.95% decline. Project Jupiter force-majeure reporting dates to September 24; Oracle and Bloom subsequently said the planned project and 2.4GW supply commitment remain intact. A September 28 'halt' headline does not establish cancellation or quantify Bloom revenue loss. Preserve the live $4,050M FY2026 revenue / 40% and 25% forward-growth framework; carry delivery, permitting and gas-supply risk. — wealthprofessional.ca (accessed 2026-09-28)
7. Additional supporting record for the September 28 BE review. — x.com (accessed 2026-09-28)
8. September 25, 2026 Model Edge reference BE price $288.7, refreshed 2026-09-25T15:02:45.676193-06:00. This changes market-relative outputs; intrinsic changes are separately sourced. (accessed 2026-09-26)
9. The Army announced conditional Indelible-Bloom lease awards; no quantified Bloom purchase commitment was disclosed. — army.mil (accessed 2026-09-26)
10. September 14 company-specific filing/press discovery and market-news checks did not establish a new operating forecast or capital-structure change. Preserve the existing intrinsic assumptions; continue the model's unresolved refresh checklist. (accessed 2026-09-14)
11. September 14 Modeledge reference BE share price $257.05 retrieved after the regular U.S. close. Quote updates affect market-relative outputs; forecast changes, if any, are separately identified. (accessed 2026-09-14)
12. September 11 Modeledge reference share price $275.75. The share quote changes market-relative outputs, not operating forecasts or intrinsic fair value. (accessed 2026-09-11)
13. Oracle's September 10 Q1 call confirms planned Bloom fuel cells at its New Mexico data center, with the air permit still in process. Oracle retained FY2027 gross capex $90B-$95B and net-cash capex at or below $70B; the New Mexico/Wisconsin sites do not alter Oracle's existing FY2027 guidance. This supports demand visibility but provides no new Bloom contract value, revenue or dilution terms. Investigated BE +6.68%; retain Bloom's $4.05B FY2026 revenue and discounted FY2028 valuation. The source supports a possible backdrop, not proof of price causation. — modeledge.ai (accessed 2026-09-11)
14. Bloom reported Q2 2026 revenue of $1.065B, 34.3% non-GAAP gross margin, $239.6M non-GAAP operating income, $253.4M adjusted EBITDA, $226.4M operating cash flow, and raised FY2026 guidance to $3.9B-$4.2B revenue, about 34% non-GAAP gross margin, $800M-$900M non-GAAP operating income, and $2.55-$2.85 non-GAAP EPS. — sec.gov (accessed 2026-08-05)
15. At June 30, 2026 Bloom reported $2.667B cash and cash equivalents, $2.475B recourse debt, $206.5M financing obligations, 293.4M common shares outstanding, and 323.3M Q2 diluted weighted-average shares. — sec.gov (accessed 2026-08-05)
16. The Q2 2026 Form 10-Q/A disclosed $442.4M of unsatisfied product and installation performance obligations and $51.7M of deferred service-contract obligations, with the product and installation amount expected to be recognized within 1-2 years. — sec.gov (accessed 2026-08-05)
17. Management said on the Q2 call that all major U.S. hyperscalers and over a dozen U.S. neoclouds, AI labs, and colocation operators have validated Bloom's power solutions, that backlog is growing faster than revenue, and that FY2026 guidance is not dependent on a single project. — seekingalpha.com (accessed 2026-08-05)
18. Brookfield expanded its prospective financing framework for qualifying Bloom-powered AI infrastructure projects from $5B to $25B; the framework is not modeled as backlog or guaranteed revenue. — investor.bloomenergy.com (accessed 2026-08-05)
19. BE reference share price was $236.88 at 19:51 UTC on August 5, 2026. — finance.yahoo.com (accessed 2026-08-05)
20. S&P Dow Jones Indices announced September 4 that Bloom Energy will join the S&P 500 before the September 21 open. Index inclusion changes benchmark demand but is not incremental earnings or contracted revenue. — press.spglobal.com (accessed 2026-09-08)