Fluence Energy (FLNC) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Fluence Energy

NasdaqGS•Utilities•Utilities - Renewable

$9.05-0.25(-0.03%)Pre-market

Market Cap

$1.00B

P/S

0.4x

P/B

2.7x

Fluence Energy, Inc., through its subsidiaries, provides energy storage and optimization software for renewables and storage applications in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. It sells energy storage products with integrated hardware, software, and digital intelligence. The company's energy storage products include Gridstack Pro, a large-scale front-of-the-meter application; Gridstack, a front-of-the-meter application; Ultrastack for critical system requirements of distribution and transmission networks; Smartstack, a split architecture design, incorporating embedded intelligence and higher energy density compared to traditional AC systems. The company also provides operational and maintenance services; and digital applications. It serves independent power producers, developers, conglomerates, utilities/load-serving entities, and commercial and industrial customers. Fluence Energy, Inc. was founded in 2018 and is headquartered in Arlington, Virginia.

How this company scores

AverageMetricSide Score: 45/100

Strongest: Balance Sheet & Red Flags (14/25); weakest: Profitability (8/25).

Profitability8/25

Growth11/25

Balance Sheet & Red Flags14/25

Cash & Earnings Quality12/25

Strengths

Long cash runwayCash-backed earnings

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 128.8x5y range 128.8x – 128.8x

P/S · 0.4x5y range 0.3x – 1.6x

Currently below its 16-quarter median.

P/B · 2.7x5y range 1.1x – 7.9x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Earnings Quality

Red Flag

Free cash flow has been negative in 6 of the last 8 quarters — earnings are not translating to cash.

Price & Volume

Market Cap $1.00B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $2.63B
Q. Revenue: $649.85M
TTM EBITDA: $-54.31M
TTM Op. Income: $-95.45M
Q. Op. Income: $-53.53M
TTM Net Income: $-80.87M
Q. Net Income: $-32.82M
EPS: $-0.24
Shares Out.: $138.13M

$2.63B in TTM revenue grew 7.5% YoY, reaching $649.85M last quarter. TTM EBITDA of $-54.31M and TTM operating income of $-95.45M show growth is flowing through to the bottom line. However, net income is negative at $80.87M — growth is not yet reaching the bottom line. Across the last 8 quarters, TTM revenue has risen for 3 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 5.1%
EBITDA Margin: -6.5%
Op. Margin: -8.2%
Net Margin: -5.0%

Op. margin of -8.2% is down 9.5% YoY — costs are rising relative to revenue. Net margin at -5.0% and gross margin of 5.1% show how much of each revenue dollar survives to profit. Over the past year, operating margin is down 748% — a weakening trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: N/A
P/S Ratio: 0.4x
P/B Ratio: 2.7x

P/S of 0.4x and P/B of 2.7x. P/S is low relative to typical market levels.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $2.62B
Cash: $339.33M
Long-Term Debt: $392.16M
Book Value: $373.21M
D/E Ratio: 1.1
Debt/EBITDA: N/A

With $2.62B in assets and $392.16M in long-term debt, D/E is 1.1and book value is $373.21M — moderate leverage. Over the past year, debt/equity is up 10% — an improving trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $-18.63M
TTM Free Cash Flow: $-115.33M
FCF Margin: -4.4%
FCF / Net Income: 1.4

TTM FCF of $-115.33M on $-18.63M in operating cash flow. The FCF / Net Income ratio of 1.4x means free cash flow covers net income — earnings are backed by cash. Over the past year, free cash flow is up 72% — an improving trend.