Fluence Energy, Inc. (FLNC) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 14, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q3 FY2026, filed Aug 5, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the FLNC SEC filings page.
Fluence Energy, Inc. (FLNC) reported $2.6B in revenue over the twelve months to Jun 30, 2026, up 7.5% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 6 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Improved gross economics did not persist into earnings: FY2025’s sales setback coincided with renewed cash consumption and financing reliance.
FY2025’s gross margin held near its FY2024 level at13.1% versus12.6% , yet the revenue decline coincided with a shift from a$22.7M net profit to a$48.3M net loss. That combination points to volume and operating-cost pressure, rather than deteriorating product-level economics, as the more visible source of the earnings reversal.
Cash conversion moved with reported earnings: operating cash flow shifted from
FY2025’s financing-dependent balance-sheet expansion paired a
Financial Health Signals
Scored against utilities for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Fluence Energy, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Not available for Fluence Energy, Inc., and counted as zero in the overall score.
Fluence Energy, Inc.'s revenue declined 16.1% year-over-year, from $2.7B to $2.3B. This contraction results in a growth score of 25/100.
Fluence Energy, Inc. has a moderate D/E ratio of 4.21. This balance of debt and equity financing earns a leverage score of 50/100.
With a current ratio of 1.51, Fluence Energy, Inc. holds $1.51 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 88/100.
Fluence Energy, Inc.'s operations used $145.5M of cash, and capex of $14.9M added to the outflow, for a free cash flow shortfall of $160.4M. This results in a cash flow score of 67/100.
Not available for Fluence Energy, Inc., and counted as zero in the overall score.
Fluence Energy, Inc. passes 2 of 7 computable financial strength tests (2 of the nine could not be computed from available data). No profitability signals pass, all 1 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
Fluence Energy, Inc. reported a net loss of $48.3M while operations used $145.5M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
Fluence Energy, Inc. generated $649.8M in revenue in Q3 2026. This represents an increase of 7.9% from the same quarter a year earlier. Against the prior quarter it is up 39.8%.
Fluence Energy, Inc. reported -$32.8M in net income in Q3 2026. This represents a decrease of 624.9% from the same quarter a year earlier. Against the prior quarter it is down 56.8%.
Fluence Energy, Inc. earned -$0.24 per diluted share (EPS) in Q3 2026. Against the prior quarter it is down 50.0%.
Not reported for Q3 2026.
Cash & Balance Sheet
Fluence Energy, Inc. recorded an outflow of $20.0M in free cash flow in Q3 2026, representing a cash shortfall after capex. This represents an increase of 87.3% from the same quarter a year earlier. Against the prior quarter it is up 83.8%.
Fluence Energy, Inc. held $339.3M in cash as of Q3 2026; long-term debt is not reported for that period.
Not reported for Q3 2026.
Margins & Returns
Fluence Energy, Inc.'s gross margin was 5.1% in Q3 2026, indicating the percentage of revenue retained after direct costs. This is down 9.7 percentage points from the same quarter a year earlier. Against the prior quarter it is down 4.9 percentage points.
Fluence Energy, Inc.'s net profit margin was -5.1% in Q3 2026, showing the share of revenue converted to profit. This is down 6.1 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.6 percentage points.
Fluence Energy, Inc.'s ROE was -8.8% in Q3 2026, measuring profit generated per dollar of shareholder equity. This is down 10.3 percentage points from the same quarter a year earlier. Against the prior quarter it is down 3.1 percentage points.
Not reported for Q3 2026.
Capital Allocation
Fluence Energy, Inc. invested $23.7M in research and development in Q3 2026. This represents a decrease of 8.7% from the same quarter a year earlier. Against the prior quarter it is up 12.7%.
Fluence Energy, Inc. invested $1.4M in capex in Q3 2026, funding long-term assets and infrastructure. This represents a decrease of 61.6% from the same quarter a year earlier. Against the prior quarter it is down 44.8%.
Not reported for Q3 2026.
FLNC Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K |
|---|---|---|---|---|---|---|---|---|
| Revenue | $649.8M+7.9% | $464.9M+7.7% | $475.2M+154.4% | $1.0B-15.2% | $602.5M+24.7% | $431.6M-30.7% | $186.8M-48.7% | $1.2B+82.5% |
| Cost of Revenue | $616.6M+20.1% | $418.3M+7.5% | $452.2M+173.1% | $899.0M-16.0% | $513.4M+28.3% | $389.0M-30.4% | $165.6M-49.4% | $1.1B+79.4% |
| Gross Profit | $33.2M-62.7% | $46.6M+9.5% | $23.0M+8.7% | $142.9M-9.3% | $89.1M+7.3% | $42.6M-33.7% | $21.2M-41.7% | $157.5M+106.4% |
| R&D Expenses | $23.7M-8.7% | $21.1M-4.7% | $18.5M+7.8% | $20.9M+13.8% | $26.0M+73.7% | $22.1M+26.9% | $17.2M+11.4% | $18.4M+25.0% |
| SG&A Expenses | $37.7M+6.0% | $37.2M-10.1% | $41.8M+14.0% | $49.3M+7.1% | $35.6M-21.1% | $41.4M-6.0% | $36.7M-2.7% | $46.1M+31.3% |
| Interest Expense | N/A | $2.8M+606.4% | $1.4M+174.4% | -$1.5M-435.8% | $1.1M-16.7% | $391K-69.0% | $500K-54.5% | $439K+140.9% |
| Income Tax | $772K-83.1% | $1.5M+177.4% | -$7.9M-360.0% | $22.0M+179.9% | $4.6M+8.2% | -$2.0M-19.6% | -$1.7M-38.9% | $7.9M+19.2% |
| Net Income | -$32.8M-624.9% | -$20.9M+32.6% | -$45.1M-8.7% | $17.9M-62.5% | $6.3M+696.4% | -$31.0M-238.6% | -$41.5M-147.7% | $47.8M+1364.4% |
| EPS (Basic) | -$0.24-580.0% | -$0.16+33.3% | -$0.34-6.3% | $0.14-63.2% | $0.05+400.0% | -$0.24-242.9% | -$0.32-128.6% | $0.38+1166.7% |
| EPS (Diluted) | -$0.24 | -$0.16+33.3% | -$0.34-6.3% | $0.14-57.6% | $0.01 | -$0.24-242.9% | -$0.32-128.6% | $0.33+1000.0% |
| Diluted Shares (Avg) | 138M | 133M+2.0% | 132M+1.6% | N/A | 184M-0.3% | 130M+2.5% | 129M+6.9% | N/A |
Not reported in any period shown, so not listed: Operating Income, EBITDA.
FLNC Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $2.6B+26.0% | $2.3B+3.3% | $2.3B+2.5% | $2.4B+23.9% | $2.1B+22.8% | $2.3B+48.6% | $2.2B+21.9% | $1.9B+40.7% |
| Current Assets | $2.3B+25.7% | $2.1B+2.5% | $2.0B+0.2% | $2.1B+22.8% | $1.8B+23.0% | $2.0B+53.6% | $2.0B+19.1% | $1.7B+40.6% |
| Cash & Equivalents | $339.3M-22.2% | $387.3M-31.9% | $452.6M-25.5% | $690.8M+54.0% | $436.3M+12.4% | $568.6M+38.1% | $607.4M+91.2% | $448.7M+29.7% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $783.0M+19.7% | $764.2M+9.4% | $540.6M-0.5% | $455.0M+149.2% | $654.3M+39.2% | $698.3M+125.9% | $543.4M-3.7% | $182.6M-18.8% |
| Accounts Receivable | $350.1M+129.5% | $180.1M+20.9% | $288.9M+96.6% | $272.8M+26.0% | $152.6M+63.2% | $149.0M+71.6% | $147.0M-14.6% | $216.5M+109.3% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill | $28.3M-1.3% | $28.5M+7.2% | $28.7M+9.5% | $28.6M+4.0% | $28.7M+8.8% | $26.6M+1.3% | $26.2M-4.9% | $27.5M+5.6% |
| Total Liabilities | $2.2B+40.5% | $1.9B+6.5% | $1.8B+5.7% | $1.8B+39.6% | $1.6B+34.9% | $1.8B+77.7% | $1.7B+32.0% | $1.3B+62.7% |
| Current Liabilities | $1.7B+54.2% | $1.5B+7.9% | $1.3B+6.2% | $1.4B+8.9% | $1.1B0.0% | $1.3B+38.3% | $1.3B+0.8% | $1.3B+68.8% |
| Non-Current Liabilities | $450.3M+4.9% | $438.4M+2.3% | $441.9M+4.4% | $437.8M+1108.9% | $429.5M+1486.5% | $428.6M+1614.8% | $423.3M+1633.7% | $36.2M-27.8% |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $0-100.0% |
| Total Equity | $373.2M-8.4% | $368.1M-5.2% | $388.0M-5.2% | $429.6M-9.0% | $407.4M-3.3% | $388.2M-6.0% | $409.4M-1.6% | $472.1M+17.3% |
| Retained Earnings | -$298.6M-37.1% | -$265.8M-18.7% | -$244.8M-26.9% | -$199.8M-31.9% | -$217.7M-9.2% | -$224.0M-11.9% | -$192.9M-1.1% | -$151.4M+13.0% |
FLNC Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$18.6M+87.9% | -$121.1M-162.2% | -$226.8M-7.4% | $265.7M+2423.9% | -$153.9M-629.5% | -$46.2M-165.2% | -$211.2M-1190.9% | $10.5M-78.3% |
| Depreciation & Amortization | $4.0M+9.9% | $4.3M+45.3% | $8.8M+96.1% | $10.4M+154.8% | $3.6M+0.1% | $2.9M+18.6% | $4.5M+55.6% | $4.1M+39.7% |
| Stock-Based Compensation | $4.9M-23.6% | $3.9M+2.8% | $5.3M+0.4% | N/A | $6.4M+4.2% | $3.8M-42.2% | $5.3M-6.5% | N/A |
| Capital Expenditures | $1.4M-61.6% | $2.5M-43.0% | $5.8M+176.3% | $4.9M+48.3% | $3.6M+50.6% | $4.4M+333.1% | $2.1M+43.7% | $3.3M+194.7% |
| Free Cash Flow | -$20.0M+87.3% | -$123.6M-144.6% | -$232.6M-9.0% | $260.9M+3497.4% | -$157.4M-571.1% | -$50.5M-172.3% | -$213.3M-1292.2% | $7.3M-84.7% |
| Investing Cash Flow | -$31.5M-332.9% | -$6.8M+10.8% | -$9.3M-80.3% | -$9.8M-76.3% | -$7.3M-22.4% | -$7.6M-54.7% | -$5.2M-99.8% | -$5.5M-80.6% |
| Financing Cash Flow | $5.4M+1262.8% | $68.4M+4081.4% | -$1.8M-100.5% | -$1.8M+39.3% | -$468K-154.2% | -$1.7M-531.6% | $360.8M+5774.3% | -$2.9M-41657.1% |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
FLNC Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 5.1%-9.7pp | 10.0%+0.2pp | 4.9%-6.5pp | 13.7%+0.9pp | 14.8%-2.4pp | 9.9%-0.4pp | 11.3%+1.3pp | 12.8%+1.5pp |
| Net Margin | -5.1%-6.1pp | -4.5%+2.7pp | -9.5%+12.7pp | 1.7%-2.2pp | 1.0%+0.9pp | -7.2%-5.7pp | -22.2%-17.6pp | 3.9%+3.4pp |
| Return on Equity | -8.8%-10.3pp | -5.7%+2.3pp | -11.6%-1.5pp | 4.2%-6.0pp | 1.5%+1.3pp | -8.0%-5.8pp | -10.1%-6.1pp | 10.1%+9.3pp |
| Return on Assets | -1.3%-1.6pp | -0.9%+0.5pp | -2.0%-0.1pp | 0.8%-1.8pp | 0.3%+0.3pp | -1.4%-0.8pp | -1.9%-1.0pp | 2.5%+2.3pp |
| Current Ratio | 1.34-0.3x | 1.43-0.1x | 1.48-0.1x | 1.51+0.2x | 1.64+0.3x | 1.51+0.2x | 1.57+0.2x | 1.33-0.3x |
| Debt-to-Equity | 5.85+2.0x | 5.13+0.6x | 4.59+0.5x | 4.21+4.2x | 3.82+3.8x | 4.57+4.6x | 4.11+4.1x | 0.00-0.1x |
| Asset Turnover | 0.250.0x | 0.200.0x | 0.21+0.1x | 0.44-0.2x | 0.290.0x | 0.19-0.2x | 0.08-0.1x | 0.65+0.1x |
| FCF Margin | -3.1%+23.0pp | -26.6%-14.9pp | -48.9% | 25.0%+24.5pp | -26.1%-21.3pp | -11.7%-22.9pp | -114.2% | 0.6%-6.5pp |
Not reported in any period shown, so not listed: Operating Margin.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: FCF Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Fluence Energy, Inc. FLNC | FY2025 | $2.3B | -$48.3M | -2.1% | $1.2B | 38/100 |
| Energy Vault Holdings, Inc. NRGV | FY2025 | $203.7M | -$103.6M | -50.9% | $565.5M | 25/100 |
| ReNew Energy Global plc RNW | FY2025 | $1.1B | $54.0M | 4.8% | $2.5B | 25/100 |
| Enlight Renewable Energy Ltd. ENLT | FY2025 | $488.6M | $160.7M | 32.9% | $9.9B | 37/100 |
| Brookfield Renewable Corporation BEPC | FY2025 | $3.7B | -$2.3B | -62.8% | $5.4B | 22/100 |
| NextNRG, Inc. NXXT | FY2025 | $81.8M | -$85.7M | N/A | $9.7M | 35/100 |
Where Fluence Energy, Inc. Ranks
Frequently Asked Questions
What is Fluence Energy, Inc.'s annual revenue?
Fluence Energy, Inc. (FLNC) reported $2.3B in total revenue for fiscal year 2025. This represents a -16.1% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Fluence Energy, Inc.'s revenue growing?
Fluence Energy, Inc. (FLNC) revenue declined by 16.1% year-over-year, from $2.7B to $2.3B in fiscal year 2025.
Is Fluence Energy, Inc. profitable?
No, Fluence Energy, Inc. (FLNC) reported a net income of -$48.3M in fiscal year 2025, with a net profit margin of -2.1%.
What is Fluence Energy, Inc.'s gross margin?
Fluence Energy, Inc. (FLNC) had a gross margin of 13.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Fluence Energy, Inc.'s net profit margin?
Fluence Energy, Inc. (FLNC) had a net profit margin of -2.1% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Fluence Energy, Inc.'s return on equity (ROE)?
Fluence Energy, Inc. (FLNC) has a return on equity of -11.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Fluence Energy, Inc.'s free cash flow?
Fluence Energy, Inc. (FLNC) recorded an outflow of $160.4M in free cash flow during fiscal year 2025. This represents a -324.1% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Fluence Energy, Inc.'s operating cash flow?
Fluence Energy, Inc. (FLNC) recorded an outflow of $145.5M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Fluence Energy, Inc.'s total assets?
Fluence Energy, Inc. (FLNC) had $2.4B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Fluence Energy, Inc.'s capital expenditures?
Fluence Energy, Inc. (FLNC) invested $14.9M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Fluence Energy, Inc. spend on research and development?
Fluence Energy, Inc. (FLNC) invested $86.2M in research and development during fiscal year 2025.
What is Fluence Energy, Inc.'s current ratio?
Fluence Energy, Inc. (FLNC) had a current ratio of 1.51 as of fiscal year 2025, which is generally considered healthy.
What is Fluence Energy, Inc.'s debt-to-equity ratio?
Fluence Energy, Inc. (FLNC) had a debt-to-equity ratio of 4.21 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Fluence Energy, Inc.'s return on assets (ROA)?
Fluence Energy, Inc. (FLNC) had a return on assets of -2.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Fluence Energy, Inc.'s P/E ratio?
Fluence Energy, Inc. (FLNC) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to June 30, 2026). The market capitalization is $1.2B as of Oct 14, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Fluence Energy, Inc.'s price-to-sales ratio?
Fluence Energy, Inc. (FLNC) trades at 0.5x sales, its market capitalization divided by revenue of $2.6B revenue, trailing 12 months to June 30, 2026. The market capitalization is $1.2B as of Oct 14, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
How does Fluence Energy, Inc.'s liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Fluence Energy, Inc. (FLNC) held $690.8M in cash, cash equivalents and investments, and reported an operating cash outflow of $145.5M over that year. Dividing the one by the other, the reported balance equals about 57 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
What is Fluence Energy, Inc.'s Piotroski F-Score?
Fluence Energy, Inc. (FLNC) has a Piotroski F-Score of 2 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Fluence Energy, Inc.'s earnings high quality?
Fluence Energy, Inc. (FLNC) reported a net loss of $48.3M while operations used $145.5M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Fluence Energy, Inc.?
Fluence Energy, Inc. (FLNC) scores 38 out of 100 on our Financial Health Score, indicating weak standing within its utilities peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.