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Side-by-side financial comparison of Fluence Energy, Inc. (FLNC) and ITRON, INC. (ITRI). Click either name above to swap in a different company.
ITRON, INC. is the larger business by last-quarter revenue ($587.0M vs $475.2M, roughly 1.2× Fluence Energy, Inc.). ITRON, INC. runs the higher net margin — 9.1% vs -9.5%, a 18.6% gap on every dollar of revenue. On growth, Fluence Energy, Inc. posted the faster year-over-year revenue change (154.4% vs -3.3%). ITRON, INC. produced more free cash flow last quarter ($79.0M vs $-232.6M). Over the past eight quarters, ITRON, INC.'s revenue compounded faster (-1.8% CAGR vs -12.7%).
Progress Energy was a power generation and distribution company. Prior to its merger with Duke Energy, it was a Fortune 500 energy company with more than 21,000 megawatts of generation capacity and $9 billion in annual revenues. Headquartered in Raleigh, North Carolina, Progress Energy includes two major electric utilities that serve approximately 3.1 million customers in the Carolinas and Florida. As an independent company, the last chairman and CEO of Progress Energy was William D. Johnson;...
Itron, Inc. is an American technology company that offers products and services for energy and water resource management. It is headquartered in Liberty Lake, Washington, United States. The company's products measure and analyze electricity, gas and water consumption. Its products include electricity, gas, water and thermal energy measurement devices and control technology, communications systems, software, as well as managed and consulting services.
FLNC vs ITRI — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $475.2M | $587.0M |
| Net Profit | $-45.1M | $53.6M |
| Gross Margin | 4.9% | 40.3% |
| Operating Margin | -14.8% | 11.5% |
| Net Margin | -9.5% | 9.1% |
| Revenue YoY | 154.4% | -3.3% |
| Net Profit YoY | -8.7% | -18.0% |
| EPS (diluted) | $-0.34 | $1.18 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $587.0M | ||
| Q4 25 | $475.2M | $571.7M | ||
| Q3 25 | $1.0B | $581.6M | ||
| Q2 25 | $602.5M | $606.8M | ||
| Q1 25 | $431.6M | $607.2M | ||
| Q4 24 | $186.8M | $612.9M | ||
| Q3 24 | $1.2B | $615.5M | ||
| Q2 24 | $483.3M | $609.1M |
| Q1 26 | — | $53.6M | ||
| Q4 25 | $-45.1M | $101.6M | ||
| Q3 25 | $17.9M | $65.6M | ||
| Q2 25 | $6.3M | $68.3M | ||
| Q1 25 | $-31.0M | $65.5M | ||
| Q4 24 | $-41.5M | $58.1M | ||
| Q3 24 | $47.8M | $78.0M | ||
| Q2 24 | $785.0K | $51.3M |
| Q1 26 | — | 40.3% | ||
| Q4 25 | 4.9% | 40.5% | ||
| Q3 25 | 13.7% | 37.7% | ||
| Q2 25 | 14.8% | 36.9% | ||
| Q1 25 | 9.9% | 35.8% | ||
| Q4 24 | 11.4% | 34.9% | ||
| Q3 24 | 12.8% | 34.1% | ||
| Q2 24 | 17.2% | 34.6% |
| Q1 26 | — | 11.5% | ||
| Q4 25 | -14.8% | 13.8% | ||
| Q3 25 | 4.4% | 14.1% | ||
| Q2 25 | 1.9% | 12.6% | ||
| Q1 25 | -10.2% | 12.6% | ||
| Q4 24 | -31.4% | 10.2% | ||
| Q3 24 | 6.2% | 12.0% | ||
| Q2 24 | 1.1% | 10.6% |
| Q1 26 | — | 9.1% | ||
| Q4 25 | -9.5% | 17.8% | ||
| Q3 25 | 1.7% | 11.3% | ||
| Q2 25 | 1.0% | 11.3% | ||
| Q1 25 | -7.2% | 10.8% | ||
| Q4 24 | -22.2% | 9.5% | ||
| Q3 24 | 3.9% | 12.7% | ||
| Q2 24 | 0.2% | 8.4% |
| Q1 26 | — | $1.18 | ||
| Q4 25 | $-0.34 | $2.20 | ||
| Q3 25 | $0.18 | $1.41 | ||
| Q2 25 | $0.01 | $1.47 | ||
| Q1 25 | $-0.24 | $1.42 | ||
| Q4 24 | $-0.32 | $1.26 | ||
| Q3 24 | $0.34 | $1.70 | ||
| Q2 24 | $0.00 | $1.10 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $452.6M | $712.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $388.0M | $1.6B |
| Total Assets | $2.3B | $4.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $712.9M | ||
| Q4 25 | $452.6M | $1.0B | ||
| Q3 25 | $690.8M | $1.3B | ||
| Q2 25 | $436.3M | $1.2B | ||
| Q1 25 | $568.6M | $1.1B | ||
| Q4 24 | $607.4M | $1.1B | ||
| Q3 24 | $448.7M | $982.5M | ||
| Q2 24 | $388.2M | $920.6M |
| Q1 26 | — | — | ||
| Q4 25 | — | $1.3B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $1.3B | ||
| Q3 24 | — | $1.3B | ||
| Q2 24 | — | $1.3B |
| Q1 26 | — | $1.6B | ||
| Q4 25 | $388.0M | $1.7B | ||
| Q3 25 | $429.6M | $1.7B | ||
| Q2 25 | $407.4M | $1.6B | ||
| Q1 25 | $388.2M | $1.5B | ||
| Q4 24 | $409.4M | $1.4B | ||
| Q3 24 | $472.1M | $1.3B | ||
| Q2 24 | $421.2M | $1.2B |
| Q1 26 | — | $4.0B | ||
| Q4 25 | $2.3B | $3.7B | ||
| Q3 25 | $2.4B | $3.7B | ||
| Q2 25 | $2.1B | $3.6B | ||
| Q1 25 | $2.3B | $3.5B | ||
| Q4 24 | $2.2B | $3.4B | ||
| Q3 24 | $1.9B | $3.4B | ||
| Q2 24 | $1.7B | $3.3B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.74× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.91× | ||
| Q3 24 | — | 0.94× | ||
| Q2 24 | — | 1.02× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-226.8M | $85.5M |
| Free Cash FlowOCF − Capex | $-232.6M | $79.0M |
| FCF MarginFCF / Revenue | -48.9% | 13.5% |
| Capex IntensityCapex / Revenue | 1.2% | — |
| Cash ConversionOCF / Net Profit | — | 1.60× |
| TTM Free Cash FlowTrailing 4 quarters | $-179.7M | $394.6M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $85.5M | ||
| Q4 25 | $-226.8M | $119.3M | ||
| Q3 25 | $265.7M | $117.8M | ||
| Q2 25 | $-153.9M | $96.7M | ||
| Q1 25 | $-46.2M | $72.1M | ||
| Q4 24 | $-211.2M | $79.8M | ||
| Q3 24 | $10.5M | $65.3M | ||
| Q2 24 | $-21.1M | $51.7M |
| Q1 26 | — | $79.0M | ||
| Q4 25 | $-232.6M | $111.5M | ||
| Q3 25 | $260.9M | $113.4M | ||
| Q2 25 | $-157.4M | $90.7M | ||
| Q1 25 | $-50.5M | $67.5M | ||
| Q4 24 | $-213.3M | $70.2M | ||
| Q3 24 | $7.3M | $58.7M | ||
| Q2 24 | $-23.5M | $44.6M |
| Q1 26 | — | 13.5% | ||
| Q4 25 | -48.9% | 19.5% | ||
| Q3 25 | 25.0% | 19.5% | ||
| Q2 25 | -26.1% | 14.9% | ||
| Q1 25 | -11.7% | 11.1% | ||
| Q4 24 | -114.2% | 11.4% | ||
| Q3 24 | 0.6% | 9.5% | ||
| Q2 24 | -4.9% | 7.3% |
| Q1 26 | — | — | ||
| Q4 25 | 1.2% | 1.4% | ||
| Q3 25 | 0.5% | 0.8% | ||
| Q2 25 | 0.6% | 1.0% | ||
| Q1 25 | 1.0% | 0.8% | ||
| Q4 24 | 1.1% | 1.6% | ||
| Q3 24 | 0.3% | 1.1% | ||
| Q2 24 | 0.5% | 1.2% |
| Q1 26 | — | 1.60× | ||
| Q4 25 | — | 1.17× | ||
| Q3 25 | 14.81× | 1.80× | ||
| Q2 25 | -24.61× | 1.41× | ||
| Q1 25 | — | 1.10× | ||
| Q4 24 | — | 1.37× | ||
| Q3 24 | 0.22× | 0.84× | ||
| Q2 24 | -26.87× | 1.01× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FLNC
| Products | $450.9M | 95% |
| Services | $22.5M | 5% |
| Digital Applications And Solutions | $1.9M | 0% |
ITRI
| Product revenues | $477.8M | 81% |
| Service revenues | $109.2M | 19% |
