Fluence Named a Forbes 2024 Most Successful Mid-Cap Company
Fluence Energy, Inc. has been named a Forbes 2024 Most Successful Mid-Cap Company, ranked 37 out of 100. The company is recognized for its strong performance in fiscal year 2023, offering energy storage solutions and optimization software for renewables and storage. Forbes used data from FactSet to compile the list, considering companies with a market value between $2 billion and $10 billion. Fluence was also named the top global provider of battery-based energy storage systems and has surpassed 20 GWh of contracted and installed energy storage projects globally.
The inclusion of Fluence Energy in Forbes' 2024 Most Successful Mid-Cap Companies list notably underscores the company's robust financial health and operational efficiency. A key performance indicator here is return on equity (ROE) , which reflects the company's ability to generate profits from shareholders' equity. An impressive ROE, coupled with strong earnings and sales growth, is indicative of a well-managed company with potential for continued growth.
Investors often regard such recognition as a proxy for future performance , which can influence stock demand and valuation. Fluence's ranking among cleantech firms not only highlights its competitive edge but also suggests resilience in a sector known for rapid technological change and regulatory shifts. The emphasis on supply chain security is particularly pertinent, given recent global disruptions and may reassure investors about Fluence's operational reliability.
However, it's crucial to consider the weight of the latest year's data in the ranking. This can sometimes skew the perception of a company's long-term trajectory, especially if recent performance is not sustainable. Investors should analyze longer-term trends and the company's strategy to maintain its competitive differentiators.
Fluence Energy's positioning as a leader in energy storage solutions is significant in the context of the global shift towards renewable energy. The company's portfolio of over 20 GWh of energy storage projects is a testament to its scale and the increasing demand for energy storage as a means to stabilize grids and integrate renewable sources.
The mention of Fluence's cloud-based software products managing over 22.3 GW of assets also highlights the company's pivot towards digitalization in energy management. This is a growing trend within the industry, as optimization software can significantly enhance the efficiency and reliability of energy storage and renewable systems.
With the global energy storage market projected to grow substantially, Fluence's market share and established track record position it favorably. However, the industry is also becoming increasingly competitive and continuous innovation will be key to maintaining its market lead.
01/18/2024 - 09:05 AM
Ranked 37 of 100, Fluence is one of only a few cleantech companies named to the Forbes list
ARLINGTON, Va., Jan. 18, 2024 (GLOBE NEWSWIRE) -- Fluence Energy, Inc. (“Fluence”) (NASDAQ: FLNC), a leading global provider of energy storage products, services, and optimization software for renewables and storage, today announced that the company has been named a Forbes 2024 Most Successful Mid-Cap Company. Ranked 37 of 100, Fluence is one of only a few cleantech companies named to the Forbes annual list of America’s Most Successful Mid-Cap Companies . The top 100 Forbes ranking is based on earnings growth, sales growth, return on equity, and total stock return for the last five years, with more of the ranking’s weight given to the latest year’s data.
“This recognition reiterates our position as a leading global provider of energy storage solutions and optimization software for renewables and storage. Our market advantage is fortified by offering our customers an ecosystem of solutions and key competitive differentiators. Among those differentiators are bankability, scale, supply chain security, and industry-leading safety,” said Fluence President and Chief Executive Officer Julian Nebreda. “Our strong performance in fiscal year 2023 serves as a solid foundation as we continue accelerating progress towards our mission of transforming the way we power our world.”
Forbes used data from FactSet to find the best performers and compile its annual list of America’s Most Successful Mid-Cap Companies. The process included screening more than 3,000 companies with a market value between $2 billion and $10 billion - only considering companies that also had positive sales growth over the past 12 months and a share price of at least $5.
Fluence was also recently named the top global provider of battery-based energy storage systems based on market share of installed and planned projects, according to the 2023 Battery Energy Storage System Integrator Report published by S&P Global Commodity Insights. As an industry leader, Fluence recently surpassed 20 GWh of contracted and installed energy storage projects globally. The company has partnered with customers to deploy some of the world’s largest and most complex energy storage systems. The global fleet of Fluence assets has nearly 3 million operating hours to date. Additionally, Fluence’s cloud-based software products have a combined portfolio of more than 22.3 GW of assets contracted or under management globally.
About Fluence
Fluence Energy, Inc. (Nasdaq: FLNC) is a global market leader in energy storage products and services, and optimization software for renewables and storage. With a presence in 47 markets globally, Fluence provides an ecosystem of offerings to drive the clean energy transition, including modular, scalable energy storage products, comprehensive service offerings, and AI-enabled SaaS products for managing and optimizing renewables and storage from any provider. The company is transforming the way we power our world by helping customers create more resilient and sustainable electric grids.
For more information, visit our website , or follow us on LinkedIn or Twitter . To stay up to date on the latest industry insights, sign up for Fluence's Full Potential Blog .
Forward-Looking Statements
The statements described herein that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, statements regarding future financial and operational performance of Fluence. Such statements can be identified by the fact that they do not relate strictly to historical or current facts. When used in this press release, words such as “may,” “possible,” “will,” “should,” “expects,” “plans,” “anticipates,” “could,” “intends,” “targets,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” “potential,” or “continue,” or the negative of these terms or other similar expressions and variations thereof and similar words and expressions are intended to identify such forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking.
The forward-looking statements contained in this press release are based on our current expectations and beliefs concerning future developments, as well as a number of assumptions concerning future events, and their potential effects on our business. These forward-looking statements are not guarantees of performance, and there can be no assurance that future developments affecting our business will be those that we have anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond our control), or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements, which include, but are not limited to, those factors set forth under Item 1A.“Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended September 30, 2023, filed with the Securities and Exchange Commission (“SEC”) on November 29, 2023, and in other filings we make with the SEC from time to time. New risks and uncertainties emerge from time to time and it is not possible for us to predict all such risk factors, nor can we assess the effect of all such risk factors on our business or the extent to which any factor or combination of factors may cause actual results to differ materially from those contained in any forward-looking statements. Should one or more of these risks or uncertainties materialize, or should any of the assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. You are cautioned not to place undue reliance on any forward-looking statements made in this press release. Each forward-looking statement speaks only as of the date of the particular statement, and we undertake no obligation to publicly update or revise any forward-looking statements to reflect events or circumstances that occur, or which we become aware of, after the date hereof, except as otherwise may be required by law.
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What is the ranking of Fluence Energy, Inc. in the Forbes 2024 Most Successful Mid-Cap Companies list?
Fluence Energy, Inc. is ranked 37 out of 100 in the Forbes 2024 Most Successful Mid-Cap Companies list.
What factors contributed to Fluence's ranking in the Forbes list?
Fluence's ranking in the Forbes list is based on earnings growth, sales growth, return on equity, and total stock return for the last five years, with more weight given to the latest year’s data.
What is the market value range considered for companies in the Forbes list?
Forbes considered companies with a market value between $2 billion and $10 billion for the Most Successful Mid-Cap Companies list.
What is the recent achievement of Fluence in the energy storage industry?
Fluence was named the top global provider of battery-based energy storage systems and has surpassed 20 GWh of contracted and installed energy storage projects globally.
How was the Forbes list compiled?
Forbes used data from FactSet to find the best performers and compile its annual list of America’s Most Successful Mid-Cap Companies, screening more than 3,000 companies.
What is the ticker symbol for Fluence Energy, Inc.?
The ticker symbol for Fluence Energy, Inc. is FLNC.
