vs
Bloom Energy Corp（BE）与FUELCELL ENERGY INC（FCEL）财务数据对比。点击上方公司名可切换其他公司
Bloom Energy Corp的季度营收约是FUELCELL ENERGY INC的14.0倍（$772.8M vs $55.0M）。Bloom Energy Corp净利率更高（0.2% vs -54.3%，领先54.5%）。Bloom Energy Corp同比增速更快（36.3% vs 11.5%）。Bloom Energy Corp自由现金流更多（$395.1M vs $-23.9M）。过去两年Bloom Energy Corp的营收复合增速更高（84.9% vs 81.6%）
Bloom Energy Corp是一家能源技术企业，由印裔美国工程师、发明家、企业家KR·斯里达尔创立，他同时担任公司董事长兼首席执行官。斯里达尔此前曾任亚利桑那大学航空航天与机械工程教授、空间技术实验室主任，曾为NASA提供顾问服务，现为美国国家工程院院士。
燃料电池能源公司是一家上市燃料电池企业，总部位于美国康涅狄格州丹伯里，公司主打基于熔融碳酸盐燃料电池技术的发电站业务，从事相关产品的设计、生产，同时还提供发电站运营及相关技术服务。
BE vs FCEL — 直观对比
营收规模更大
BE
是对方的14.0倍
$55.0M
营收增速更快
BE
高出24.7%
11.5%
净利率更高
BE
高出54.5%
-54.3%
自由现金流更多
BE
多$419.0M
$-23.9M
两年增速更快
BE
近两年复合增速
81.6%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $772.8M | $55.0M |
| 净利润 | $1.4M | $-29.9M |
| 毛利率 | 31.0% | -12.1% |
| 营业利润率 | 11.3% | -51.5% |
| 净利率 | 0.2% | -54.3% |
| 营收同比 | 36.3% | 11.5% |
| 净利润同比 | -98.6% | 27.9% |
| 每股收益（稀释后） | $99.91 | $-0.43 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收BEFCEL
| Q4 25 | $772.8M | $55.0M | ||
| Q3 25 | $513.3M | $46.7M | ||
| Q2 25 | $396.3M | $37.4M | ||
| Q1 25 | $319.3M | $19.0M | ||
| Q4 24 | $567.0M | $49.3M | ||
| Q3 24 | $321.8M | $23.7M | ||
| Q2 24 | $326.5M | $22.4M | ||
| Q1 24 | $226.1M | $16.7M |
净利润BEFCEL
| Q4 25 | $1.4M | $-29.9M | ||
| Q3 25 | $-23.0M | $-91.7M | ||
| Q2 25 | $-42.2M | $-38.0M | ||
| Q1 25 | $-23.4M | $-28.3M | ||
| Q4 24 | $105.2M | $-41.4M | ||
| Q3 24 | $-14.6M | $-32.7M | ||
| Q2 24 | $-61.2M | $-32.1M | ||
| Q1 24 | $-56.5M | $-19.8M |
毛利率BEFCEL
| Q4 25 | 31.0% | -12.1% | ||
| Q3 25 | 29.5% | -11.0% | ||
| Q2 25 | 27.0% | -25.2% | ||
| Q1 25 | 27.8% | -27.4% | ||
| Q4 24 | 38.7% | -22.1% | ||
| Q3 24 | 24.5% | -26.2% | ||
| Q2 24 | 21.0% | -31.6% | ||
| Q1 24 | 16.8% | -70.2% |
营业利润率BEFCEL
| Q4 25 | 11.3% | -51.5% | ||
| Q3 25 | 1.5% | -204.0% | ||
| Q2 25 | -0.9% | -95.7% | ||
| Q1 25 | -6.0% | -172.9% | ||
| Q4 24 | 18.5% | -83.2% | ||
| Q3 24 | -3.0% | -141.9% | ||
| Q2 24 | -7.1% | -184.5% | ||
| Q1 24 | -21.7% | -254.5% |
净利率BEFCEL
| Q4 25 | 0.2% | -54.3% | ||
| Q3 25 | -4.5% | -196.1% | ||
| Q2 25 | -10.6% | -101.7% | ||
| Q1 25 | -7.3% | -149.1% | ||
| Q4 24 | 18.5% | -84.0% | ||
| Q3 24 | -4.5% | -137.8% | ||
| Q2 24 | -18.7% | -143.4% | ||
| Q1 24 | -25.0% | -118.6% |
每股收益（稀释后）BEFCEL
| Q4 25 | $99.91 | $-0.43 | ||
| Q3 25 | $-100.00 | $-3.78 | ||
| Q2 25 | $-0.18 | $-1.79 | ||
| Q1 25 | $-0.10 | $-1.42 | ||
| Q4 24 | $0.45 | $-2.29 | ||
| Q3 24 | $-0.06 | $-1.99 | ||
| Q2 24 | $-0.27 | $-2.18 | ||
| Q1 24 | $-0.25 | $-1.37 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $2.5B | $278.1M |
| 总债务越低越好 | $2.6B | $103.8M |
| 股东权益账面价值 | $768.6M | $662.2M |
| 总资产 | $4.4B | $932.1M |
| 负债/权益比越低杠杆越低 | 3.41× | 0.16× |
8季度趋势，按日历期对齐
现金及短期投资BEFCEL
| Q4 25 | $2.5B | $278.1M | ||
| Q3 25 | $595.1M | $174.7M | ||
| Q2 25 | $574.8M | $177.0M | ||
| Q1 25 | $794.8M | $208.4M | ||
| Q4 24 | $802.9M | $257.3M | ||
| Q3 24 | $495.7M | $267.2M | ||
| Q2 24 | $581.7M | $260.1M | ||
| Q1 24 | $516.0M | $297.5M |
总债务BEFCEL
| Q4 25 | $2.6B | $103.8M | ||
| Q3 25 | $1.1B | $106.4M | ||
| Q2 25 | $1.1B | $109.4M | ||
| Q1 25 | $1.1B | $112.3M | ||
| Q4 24 | $1.1B | $115.7M | ||
| Q3 24 | $1.1B | $112.7M | ||
| Q2 24 | $1.1B | $116.2M | ||
| Q1 24 | $847.9M | $107.2M |
股东权益BEFCEL
| Q4 25 | $768.6M | $662.2M | ||
| Q3 25 | $653.1M | $556.2M | ||
| Q2 25 | $594.6M | $609.2M | ||
| Q1 25 | $578.3M | $635.2M | ||
| Q4 24 | $562.5M | $656.9M | ||
| Q3 24 | $430.9M | $675.8M | ||
| Q2 24 | $423.3M | $639.8M | ||
| Q1 24 | $466.1M | $663.9M |
总资产BEFCEL
| Q4 25 | $4.4B | $932.1M | ||
| Q3 25 | $2.6B | $830.5M | ||
| Q2 25 | $2.5B | $883.8M | ||
| Q1 25 | $2.6B | $907.5M | ||
| Q4 24 | $2.7B | $944.1M | ||
| Q3 24 | $2.6B | $948.9M | ||
| Q2 24 | $2.5B | $916.8M | ||
| Q1 24 | $2.3B | $923.2M |
负债/权益比BEFCEL
| Q4 25 | 3.41× | 0.16× | ||
| Q3 25 | 1.73× | 0.19× | ||
| Q2 25 | 1.91× | 0.18× | ||
| Q1 25 | 1.96× | 0.18× | ||
| Q4 24 | 2.01× | 0.18× | ||
| Q3 24 | 2.62× | 0.17× | ||
| Q2 24 | 2.66× | 0.18× | ||
| Q1 24 | 1.82× | 0.16× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $418.1M | $-22.9M |
| 自由现金流经营现金流 - 资本支出 | $395.1M | $-23.9M |
| 自由现金流率自由现金流/营收 | 51.1% | -43.4% |
| 资本支出强度资本支出/营收 | 3.0% | 1.8% |
| 现金转化率经营现金流/净利润 | 293.18× | — |
| 过去12个月自由现金流最近4个季度 | $57.2M | $-143.9M |
8季度趋势，按日历期对齐
经营现金流BEFCEL
| Q4 25 | $418.1M | $-22.9M | ||
| Q3 25 | $19.7M | $-26.8M | ||
| Q2 25 | $-213.1M | $-29.9M | ||
| Q1 25 | $-110.7M | $-45.7M | ||
| Q4 24 | $484.2M | $5.8M | ||
| Q3 24 | $-69.5M | $-63.4M | ||
| Q2 24 | $-175.5M | $-37.1M | ||
| Q1 24 | $-147.3M | $-58.3M |
自由现金流BEFCEL
| Q4 25 | $395.1M | $-23.9M | ||
| Q3 25 | $7.4M | $-32.1M | ||
| Q2 25 | $-220.4M | $-35.2M | ||
| Q1 25 | $-124.9M | $-52.8M | ||
| Q4 24 | $473.1M | $-4.7M | ||
| Q3 24 | $-83.8M | $-76.8M | ||
| Q2 24 | $-187.5M | $-50.3M | ||
| Q1 24 | $-168.7M | $-68.8M |
自由现金流率BEFCEL
| Q4 25 | 51.1% | -43.4% | ||
| Q3 25 | 1.4% | -68.6% | ||
| Q2 25 | -55.6% | -94.0% | ||
| Q1 25 | -39.1% | -277.8% | ||
| Q4 24 | 83.4% | -9.5% | ||
| Q3 24 | -26.0% | -324.0% | ||
| Q2 24 | -57.4% | -224.5% | ||
| Q1 24 | -74.6% | -412.4% |
资本支出强度BEFCEL
| Q4 25 | 3.0% | 1.8% | ||
| Q3 25 | 2.4% | 11.2% | ||
| Q2 25 | 1.8% | 14.1% | ||
| Q1 25 | 4.5% | 37.2% | ||
| Q4 24 | 2.0% | 21.4% | ||
| Q3 24 | 4.4% | 56.6% | ||
| Q2 24 | 3.7% | 58.9% | ||
| Q1 24 | 9.5% | 63.3% |
现金转化率BEFCEL
| Q4 25 | 293.18× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 4.60× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
BE
| Products | $638.5M | 83% |
| Installation | $67.3M | 9% |
| Services | $61.7M | 8% |
| Electricity | $10.2M | 1% |
FCEL
| Other | $30.0M | 55% |
| Electricity Generation | $12.2M | 22% |
| Services | $7.3M | 13% |
| Advanced Technologies | $5.5M | 10% |
