Fluence Energy, Inc. (FLNC) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-2784.4%

-$139.86

vs $5.21 price

Levered DCF

-$104.71

After debt service

Piotroski score

0 / 9

Weak

Altman Z-score

1.29

Distress zone

Rating

D+

Overall 1 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	-29.19×	126.17×	-38.32×	-16.03×	-11.71×	-37.23×	-36.84×
P/B	3.28×	6.07×	6.65×	3.85×	-33.72×	0×	0×
P/S	0.62×	1.06×	1.21×	1.4×	2.78×	3.09×	18.8×
EV / EBITDA	-98.59×	87.68×	-33.97×	-7.17×	-17.73×	-62.94×	-52.33×
Gross margin	13.1%	12.6%	6.4%	-5.2%	-10.2%	1.4%	-8.6%
Operating margin	-2.0%	1.0%	-5.1%	-23.1%	-23.3%	0.0%	-53.8%
Net margin	-2.1%	0.8%	-3.1%	-8.7%	-23.8%	-8.3%	-51.0%
Current ratio	1.51×	1.33×	1.6×	1.44×	0.86×	0.87×	0.92×
Debt / equity	0.91×	0.06×	0.13×	0.01×	-1.78×	0×	0×
Interest coverage	-11.27×	0×	0×	-136.97×	-110.43×	0×	-7,084.57×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	-11.2%	4.8%	-17.3%	-24.0%	288.3%	0.0%	0.0%
Return on invested capital	-4.7%	3.0%	-17.9%	-43.3%	-343.1%	0.0%	-173.7%
Return on assets	-2.0%	1.2%	-5.1%	-6.0%	-22.6%	-12.8%	-24.9%
Free cash flow yield	-12.5%	2.1%	-4.6%	-17.3%	-14.2%	-0.9%	1.4%
Earnings yield	-3.4%	0.8%	-2.6%	-6.2%	-8.5%	-2.7%	-2.7%
Enterprise value	$1.7B	$3.6B	$3.5B	$2B	$2.7B	$2.3B	$2.3B
Net debt / EBITDA	17.65×	-10.18×	2.9×	1.27×	-0.41×	2.53×	1.87×
Cash conversion cycle (days)	144	66	90	209	223	95	82