BE vs VRT: Bloom Energy and Vertiv Holdings compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Vertiv Holdings is the larger company, worth $82.6B, close to Bloom Energy's $76.0B.
- Bloom Energy grew revenue faster over the last year (+130.4% vs +24.1%).
- Vertiv Holdings keeps more of each dollar of revenue as operating profit (18.9% vs 6.7%).
- Bloom Energy's price assumes faster free cash flow growth: about 66% a year, against 15% for Vertiv Holdings (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | BE | VRT |
|---|---|---|
| Market cap | $76.0B | $82.6B |
| Share price | $280.50 | $246.49 |
| Revenue (last fiscal year) | $2.0B | $10.2B |
| Free cash flow (last fiscal year) | $57M | $1.9B |
| Revenue growth, last year | +130.4% | +24.1% |
| Revenue growth per year, last 5 fiscal years | +20.1% | +19.6% |
| Operating margin | 6.7% | 18.9% |
| Net margin | 0.41% | 15.1% |
| Return on equity | 1.1% | 36.4% |
| P/E (trailing) | — | 54.1x |
| Price / free cash flow | 1328.6x | 43.6x |
| EV / EBITDA | 640.9x | 32.6x |
| FCF growth the price implies | 65.8% | 15.2% |
| Dividend yield | — | 0.06% |
| Debt / equity | 4.03x | 2.34x |
| Fundamental grade | D | C |
| Superinvestors holding it | 4 | 8 |
| Insider purchases, last 12 months | 2 | 10 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Bloom Energy
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $972M | -$110M | -11.8% |
| 2022 | $1.2B | -$309M | -21.8% |
| 2023 | $1.3B | -$456M | -15.7% |
| 2024 | $1.5B | $33M | 1.6% |
| 2025 | $2.0B | $57M | 3.6% |
Vertiv Holdings
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $5.0B | $126M | 5.2% |
| 2022 | $5.7B | -$264M | 3.9% |
| 2023 | $6.9B | $766M | 12.7% |
| 2024 | $8.0B | $1.1B | 17.1% |
| 2025 | $10.2B | $1.9B | 17.9% |
Where the revenue comes from
Bloom Energy · by products, 2025
Product$1.5B76%
Service$228M11%
Installation$204M10%
Electricity$60M3%
Vertiv Holdings · by products, 2025
Products$8.2B80%
Services & spares$2.0B20%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open BE in InvestinglyQuestions
Which is bigger, Bloom Energy or Vertiv Holdings?
Vertiv Holdings (VRT), at $82.6B against $76.0B.
Which grows faster, BE or VRT?
Bloom Energy: revenue grew +130.4% over the last year, against +24.1%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.