Bloom Energy: Up 136% This Year -- Is There Still Room to Run?

Bloom Energy, a clean energy company specializing in solid oxide fuel cell systems, has experienced a remarkable 136% increase in its share price this year, with a staggering 344% growth over the past year. These fuel cells, housed within large "Bloom Boxes," can provide on-site power generation for data centers, factories, and other facilities that require immediate power access.

This ability has become increasingly valuable, especially in the age of artificial intelligence (AI) where power-intensive facilities are being built faster than the U.S. grid can expand.

Bloom Energy's revenue generated approximately $2 billion in 2025, with about $1.8 billion through the first two quarters of 2026 and a projected $3.9 billion to $4.2 billion for the entire year, essentially doubling last year's revenue. Analysts anticipate that this figure will more than triple over the next two years. Furthermore, the company entered 2026 with a substantial $20 billion backlog, which may have increased since.

Despite the impressive growth, Bloom Energy's valuation is significantly high. With a market cap of roughly $70 billion, the stock trades at around 280 times trailing earnings, considering only $251 of net income over the past 12 months. This high valuation implies strong future expectations, but the risk lies in the company's ability to meet these projections.

For long-term investors willing to accept some volatility, Bloom Energy remains a compelling buy. However, it's essential to remain cautious, as the stock's high valuation assumes years of strong execution.