FLNC Utilities

Fluence Energy, Inc.

$5.50+5.57%

Price as of close on Nov 3, 2026 · Financials updated Oct 8, 2026

Basics

Sector: Utilities
Industry: Utilities - Renewable
Country: United States
Market cap: 1.1B USD
Enterprise value: 807.5M USD
Full-time employees: 1,670

Overall health

Drawback: less profitable than most peersless profitable than peers
Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings
Drawback: higher risk than most peers: its share price swings more than most peers’ (beta 2.77 vs a peer median of 0.46)higher risk: bigger price swings (beta 2.77 vs peers 0.46)
About average: growth

Ranks #328 of 348 utilities companies (bottom 7%)

See how it ranks against its peers

Worth knowing

Valuation signals disagree. Cheaper than 50% of peers on free cash flow, but only 0% on earnings.
Relative to its free cash flow, Fluence Energy looks cheaper than 50% of peers; relative to its earnings, cheaper than only 0%. The valuation score blends the two, so look at which measure fits this business best.
Not profitable yet. Reported a loss in the 12 months to June 2026.
Fluence Energy reported a net loss over the last twelve months, so earnings-based measures can't show it as cheap.
More volatile share price. Beta 2.77: tends to move more than the market.
Fluence Energy's shares have swung more with the market than most peers' (beta 2.77, above the market's 1.0).

StockQuotient Score

20/ 100

Oct 5 21 → Nov 4 20 (-1)

Valuation

Is the price right?

3/100

Weak

3/3 inputs reported · High confidence

Since last quarter: No major changeValuation also moves with the share price every day.

Why

Weaker than most peers on:

▼ Earnings yield
▼ EBITDA yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield-7.9%

SEC filings · 12 months to Jun 2026Negative (a loss or cash outflow), so it counts as zero whatever the share price30% base weight · Z-score -1.52Sector median: 0.0485 · MAD: 0.0319

EBITDA yield-9.7%

Yahoo Finance fallback · SEC enterprise value unavailable (debt or EBITDA not reported in standard form) · trailing 12 monthsNegative (a loss or cash outflow), so it counts as zero whatever the share price50% base weight · Z-score -2.68Sector median: 0.0859 · MAD: 0.0250

Free cash flow yield-11.3%

SEC filings · 12 months to Jun 2026 · operating cash flow − capital spendingNegative (a loss or cash outflow), so it counts as zero whatever the share price20% base weight · Z-score 0.00Sector median: 0.0000 · MAD: 0.0000

Other data (not scored)

Book yield36.5%

SEC filings · latest balance sheetReported valueInformational · 0% composite weightSector median: 0.6310 · MAD: 0.2684

Growth

Is it growing?

54/100

Moderate▲ 1 since Oct 27 close

3/3 inputs reported · High confidence

Since last quarter: No major change

Why it changed since the Oct 27, 2026 close: Score 53 → 54

Peer companies moved+1

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Mixed versus peers:

▲ 3-yr revenue
▲ Revenue growth
▼ EPS growth

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growthUnavailable

The loss per share widened33% base weight · Z-score -1.47Sector median: 0.0172 · MAD: 0.1791

3-year revenue growth9.8%

SEC filings · 3 years to Jun 2026Reported value33% base weight · Z-score 1.50Sector median: 0.0196 · MAD: 0.0523

Revenue growth7.5%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 0.72Sector median: 0.0254 · MAD: 0.0681

Profitability

Does it earn well?

1/100

Weak

3/3 inputs reported · High confidence

Since last quarter: ▼ Weaker

Operating margin fell 2.3 points to -4.2%

Why

Weaker than most peers on:

▼ Operating margin
▼ ROA
▼ ROIC

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin-4.2%

SEC filings · 12 months to Jun 2026Outlier capped at sector 5th/95th percentile33% base weight · Z-score -2.08Sector median: 0.1864 · MAD: 0.0865

Return on assets-3.1%

SEC filings · 12 months to Jun 2026Outlier capped at sector 5th/95th percentile33% base weight · Z-score -2.93Sector median: 0.0266 · MAD: 0.0124

Return on invested capital-259.8%

SEC filings · 12 months to Jun 2026Outlier capped at sector 5th/95th percentile33% base weight · Z-score -3.57Sector median: 0.0524 · MAD: 0.0237

Other data (not scored)

Gross margin9.3%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.3581 · MAD: 0.1545

Return on equity-21.7%

SEC filings · 12 months to Jun 2026Outlier capped at sector 5th/95th percentileInformational · 0% composite weightSector median: 0.0807 · MAD: 0.0381

Risk

Debt, liquidity, price swings

Higher

Higher relative risk

3/3 inputs reported · High confidence

Since last quarter: No major change

Why it changed since the Oct 27, 2026 close: Safety percentile 25 → 23

Peer companies moved-2

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Weaker than most peers on:

▼ Beta

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta2.77

Yahoo Finance · 5-year monthly beta vs the marketOutlier capped at sector 5th/95th percentile33% base weight · Z-score -3.60Sector median: 0.4590 · MAD: 0.1730

Current ratio1.34×

SEC filings · latest balance sheetReported value33% base weight · Z-score 0.85Sector median: 1.0330 · MAD: 0.3620

Debt / equity0.96×

Yahoo Finance fallback · no standard SEC debt tagReported value33% base weight · Z-score 0.45Sector median: 1.1925 · MAD: 0.5265

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Fluence Energy

Is Fluence Energy getting weaker?: Its latest SEC filing (Aug 5, 2026) got weaker in some ways: operating margin fell 2.3 points to -4.2%. Its overall score is unchanged at 20/100 since Oct 28, 2026.
How is Fluence Energy valued vs its peers?: Priced higher than most peers relative to what it earns. Valuation scores 3/100 against 360 utilities peers. Earnings yield -7.9% vs a peer median of 4.8% (weaker than 100% of peers).Earnings yield -7.9% vs peers 4.8% (weaker than 100% of peers).
Is Fluence Energy growing?: At about the same pace as its peers. Growth scores 54/100 against 360 utilities peers. 3-year revenue growth 9.8% vs a peer median of 2.0% (stronger than 84% of peers).3-year revenue growth 9.8% vs peers 2.0% (stronger than 84% of peers).
How profitable is Fluence Energy?: Less profitable than most of its peers. Profitability scores 1/100 against 360 utilities peers. Operating margin -4.2% vs a peer median of 18.6% (weaker than 100% of peers).Operating margin -4.2% vs peers 18.6% (weaker than 100% of peers).
How risky is Fluence Energy?: Higher risk relative to 360 utilities peers, judged on debt, liquidity and share-price swings. Current ratio 1.34× vs a peer median of 1.03× (stronger than 69% of peers).Current ratio 1.34× vs peers 1.03× (stronger than 69% of peers). Beta 2.77 vs a peer median of 0.46 (weaker than 100% of peers).Beta 2.77 vs peers 0.46 (weaker than 100% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Jun 30, 2026 · filed Aug 5, 2026 · compared with the quarter ended Mar 31, 2026

Got weaker

Operating margin fell 2.3 points to -4.2%

Worth watching: Fluence Energy is in the bottom fifth of its sector on profitability. From 2021 to 2025, 63% of companies in that position posted a loss over the following year, against 4% for the top fifth.

	Previous quarter	Latest quarter	Change
Revenue (12 months)	2.6B USD	2.6B USD	+1.8%
Net income (12 months)	−41.8M USD	−80.9M USD	+93.5%
Operating margin	-1.9%	-4.2%	−2.3 pts
Free cash flow (12 months)	−252.8M USD	−115.3M USD	−54.4%
Cash	387.3M USD	339.3M USD	−12.4%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Sector: Utilities · 59 companies

Valuations in Utilities are above their usual range since 2016.

61% of months since 2016 were valued lower than now.
20% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values +18% and earnings +20% (medians): prices and earnings moved broadly together.
Median price-to-sales is +2% vs the whole market, against a usual +0%.

2016Shaded: most expensive fifth of its range2026

Shown for Utilities: too few Utilities - Renewable companies have a long enough history of their own.

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY Sep 2021	FY Sep 2022	FY Sep 2023	FY Sep 2024	FY Sep 2025	Change
Gross margin	-10.2%	-5.2%	6.4%	12.6%	13.1%	▲ 0.4 pts
Operating margin	-23.5%	-23.6%	-4.8%	1.2%	-2.0%	▼ 3.2 pts
Net margin	-23.8%	-8.7%	-3.1%	0.8%	-2.1%	▼ 3.0 pts
Return on assets (ROA)	-22.6%	-6.0%	-5.1%	1.2%	-2.0%	▼ 3.2 pts
Return on equity (ROE)	—	-24.0%	-17.3%	4.8%	-11.2%	▼ 16 pts
Free cash flow margin	-39.6%	-24.2%	-5.2%	2.7%	-7.1%	▼ 9.7 pts
Current ratio	0.86×	1.44×	1.60×	1.33×	1.51×	▲ 13%
Quick ratio	0.35×	0.86×	1.30×	1.19×	1.17×	▼ 1.3%
Debt to equity	—	0.00×	0.13×	0.06×	0.91×	▲ >999%
Interest coverage	-111.43×	-140.33×	-44.68×	7.88×	-92.67×	▼ >999%

FLNC price history

Price history is added with the daily price update and will appear after the next one.

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Bringing the fundamentals into focus…

Overall health

Drawback: less profitable than most peersless profitable than peers

Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings

Drawback: higher risk than most peers: its share price swings more than most peers’ (beta 2.77 vs a peer median of 0.46)higher risk: bigger price swings (beta 2.77 vs peers 0.46)

About average: growth

Ranks #328 of 348 utilities companies (bottom 7%)

See how it ranks against its peers

Worth knowing

Valuation signals disagree. Cheaper than 50% of peers on free cash flow, but only 0% on earnings.

Relative to its free cash flow, Fluence Energy looks cheaper than 50% of peers; relative to its earnings, cheaper than only 0%. The valuation score blends the two, so look at which measure fits this business best.

Not profitable yet. Reported a loss in the 12 months to June 2026.

Fluence Energy reported a net loss over the last twelve months, so earnings-based measures can't show it as cheap.

More volatile share price. Beta 2.77: tends to move more than the market.

Fluence Energy's shares have swung more with the market than most peers' (beta 2.77, above the market's 1.0).

Questions investors ask about Fluence Energy

Is Fluence Energy getting weaker?

Its latest SEC filing (Aug 5, 2026) got weaker in some ways: operating margin fell 2.3 points to -4.2%. Its overall score is unchanged at 20/100 since Oct 28, 2026.

How is Fluence Energy valued vs its peers?

Priced higher than most peers relative to what it earns. Valuation scores 3/100 against 360 utilities peers. Earnings yield -7.9% vs a peer median of 4.8% (weaker than 100% of peers).Earnings yield -7.9% vs peers 4.8% (weaker than 100% of peers).

Is Fluence Energy growing?

At about the same pace as its peers. Growth scores 54/100 against 360 utilities peers. 3-year revenue growth 9.8% vs a peer median of 2.0% (stronger than 84% of peers).3-year revenue growth 9.8% vs peers 2.0% (stronger than 84% of peers).

How profitable is Fluence Energy?

Less profitable than most of its peers. Profitability scores 1/100 against 360 utilities peers. Operating margin -4.2% vs a peer median of 18.6% (weaker than 100% of peers).Operating margin -4.2% vs peers 18.6% (weaker than 100% of peers).

How risky is Fluence Energy?

Higher risk relative to 360 utilities peers, judged on debt, liquidity and share-price swings. Current ratio 1.34× vs a peer median of 1.03× (stronger than 69% of peers).Current ratio 1.34× vs peers 1.03× (stronger than 69% of peers). Beta 2.77 vs a peer median of 0.46 (weaker than 100% of peers).Beta 2.77 vs peers 0.46 (weaker than 100% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

2.6B USD

2.6B USD

+1.8%

Net income (12 months)

−41.8M USD

−80.9M USD

+93.5%

Operating margin

-1.9%

-4.2%

−2.3 pts

Free cash flow (12 months)

−252.8M USD

−115.3M USD

−54.4%

Cash

387.3M USD

339.3M USD

−12.4%

Key ratios

FY Sep 2021

FY Sep 2022

FY Sep 2023

FY Sep 2024

FY Sep 2025

Change

Gross margin

-10.2%

-5.2%

6.4%

12.6%

13.1%

▲ 0.4 pts

Operating margin

-23.5%

-23.6%

-4.8%

1.2%

-2.0%

▼ 3.2 pts

Net margin

-23.8%

-8.7%

-3.1%

0.8%

-2.1%

▼ 3.0 pts

Return on assets (ROA)

-22.6%

-6.0%

-5.1%

1.2%

-2.0%

▼ 3.2 pts

Return on equity (ROE)

—

-24.0%

-17.3%

4.8%

-11.2%

▼ 16 pts

Free cash flow margin

-39.6%

-24.2%

-5.2%

2.7%

-7.1%

▼ 9.7 pts

Current ratio

0.86×

1.44×

1.60×

1.33×

1.51×

▲ 13%

Quick ratio

0.35×

0.86×

1.30×

1.19×

1.17×

▼ 1.3%

Debt to equity

—

0.00×

0.13×

0.06×

0.91×

▲ >999%

Interest coverage

-111.43×

-140.33×

-44.68×

7.88×

-92.67×

▼ >999%