Is Bloom Energy the Smartest Investment You Can Make Today?

Whether or not Bloom Energy (NYSE: BE) is the smartest investment you can make today is yet to be determined, but there is no doubt the fuel cell technology company has emerged as a leader in the clean energy space.

Where much of the industry rises and falls based on sentiment and future potential, Bloom is delivering actual results and improving its financials. Behind its fuel cell systems and the growing needs of data centers, Bloom is proving it's ready for the future today.

AI is positioning Bloom for success

Bloom's partnership with Oracle (NYSE: ORCL) is its most substantial. Recently, Oracle expanded its deal with Bloom to supply up to 2.8 GW of fuel cells in support of artificial intelligence (AI) infrastructure demands. Bloom was also selected by the tech giant to fully power its Project Jupiter AI data center campus in New Mexico. It is long-term contracts like this that will provide Bloom with significant revenue for years to come.

AI infrastructure is also the main reason Bloom's backlog has ballooned to $20 billion, which rose 250% year over year.

Bloom's financials are certainly on the rise. The company grew revenue 37% in 2025, but really took off in the first quarter of 2026. In Q1 of this year, Bloom reported revenue of $751 million, a 130% year-over-year increase. The company even posted a $70 million profit, which was a major swing from the net loss of more than $23 million the year before.

For the first time, cash flow from operations turned positive. This flip from red to black is a significant milestone for the energy company, and investors shouldn't overlook it.

Image source: The Motley Fool.

The future is blooming

Bloom's management raised full-year 2026 revenue guidance to $3.4 billion-$3.8 billion, exceeding Wall Street's expectations. Bloom also raised targets for adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) and operating cash flow. Wall Street analysts responded by raising Bloom's price targets.

As of May 26, Bloom's stock is trading just over $300 per share and has skyrocketed nearly 250% since the start of the year. The impressive growth has sent Bloom's valuation metrics through the roof as well. The company's forward P/E ratio is now 147. Its enterprise value-to-EBITDA ratio went from about 51 in June of 2025 to an astronomical 767 currently.

Bloom is still quite volatile, and there's a notable amount of execution risk associated with the promises of AI infrastructure demand and delivering for companies such as Oracle. Still, if you're an investor with a longer time horizon and bullish on Bloom's ability to meet the needs of on-site power generation or the future of hydrogen fuel cells, Bloom Energy is more than compelling; it's deserving of a place in many portfolios.

Catie Hogan has positions in Oracle. The Motley Fool has positions in and recommends Bloom Energy and Oracle. The Motley Fool has a disclosure policy.