No one can know where Bloom Energy (or any stock) will be in the future.
The stock does seem overvalued, which makes it smart to rein in expectations.
If you'd invested in Bloom Energy (NYSE: BE), a company supplying fuel cells used in AI data centers, three years ago, you'd have done well. More than well, actually. A $10,000 investment would be worth more than $165,000! On an annual basis, that averages to a 155% gain.
The S&P 500 performed well above average over the past three years, but it only averaged annual gains of 21%, turning $10,000 into $17,857.
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You might now wonder, what would $10,000 invested in Bloom Energy be worth three years from now? Well, with any stock, I would caution that no one can know exactly how it will perform over any particular period. That seems much more so for Bloom Energy, because its performance has been extremely volatile:
|
Period |
Bloom Energy return |
|---|---|
|
2019 |
(25.15%) |
|
2020 |
283.67% |
|
2021 |
(23.48%) |
|
2022 |
(12.81%) |
|
2023 |
(22.59%) |
|
2024 |
50.07% |
|
2025 |
291.22% |
|
Year to date* |
102.60% |
Data source: Morningstar.com, as of Nov. 6, 2026.
See? A bunch of down years and several years with whopping gains.
The stock's valuation can offer some insight. For example, the recent price-to-sales ratio of 17.2 is well above the five-year average of 3.35, suggesting that the shares are quite overvalued. The recent price-to-earnings (P/E) ratio of 130, meanwhile, is down from 1,086 in 2025, but is still quite high. This overvaluation would lead me to rein in my growth expectations.
Since no one can know how much Bloom Energy will grow, here are some scenarios:
|
Growing at an annual rate of |
$10,000 grows to this amount in three years |
|---|---|
|
10% |
$13,310 |
|
25% |
$19,531 |
|
50% |
$33,750 |
|
100% |
$80,000 |
Calculations by author.
It certainly has a lot going for it, as it's investing in further growth. But I would think twice, given the valuation. Or, if you really want to own shares of Bloom, perhaps start with a small position. If there's a stock market crash or correction, high-flying stocks often fall especially hard.
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Selena Maranjian has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Bloom Energy. The Motley Fool has a disclosure policy.