• Income Statement
• Balance Sheet
• Cash Flow
• Ratios
• Market Data
• Valuation

	Fluence Energy, Inc. (FLNC)
	Q4-CY2025	Q3-CY2025	Q2-CY2025	Q1-CY2025	Q4-CY2024	Q3-CY2024	Q2-CY2024	Q1-CY2024	Q4-CY2023	Q3-CY2023	Q2-CY2023	Q1-CY2023	Q4-CY2022	Q3-CY2022	Q2-CY2022	Q1-CY2022	Q4-CY2021	Q3-CY2021	Q2-CY2021	Q1-CY2021	Q4-CY2020	Q3-CY2020	Q2-CY2020	Q1-CY2020	Q4-CY2019	Q3-CY2019	Q2-CY2019	Q1-CY2019	Q4-CY2018	Q3-CY2018	Q2-CY2018	Q1-CY2018	Q4-CY2017	Q3-CY2017	Q2-CY2017	Q1-CY2017	Q4-CY2016	Q3-CY2016	Q2-CY2016	Q1-CY2016	Q4-CY2015	Q3-CY2015	Q2-CY2015	Q1-CY2015	Q4-CY2014	Q3-CY2014	Q2-CY2014	Q1-CY2014	Q4-CY2013
Balance Sheet Date		2025-Sep-30	2025-Jun-30	2025-Mar-31	2024-Dec-31	2024-Sep-30	2024-Jun-30	2024-Mar-31	2023-Dec-31	2023-Sep-30	2023-Jun-30	2023-Mar-31	2022-Dec-31	2022-Sep-30	2022-Jun-30	2022-Mar-31	2021-Dec-31
Fiscal Period		Q4-FY2025	Q3-FY2025	Q2-FY2025	Q1-FY2025	Q4-FY2024	Q3-FY2024	Q2-FY2024	Q1-FY2024	Q4-FY2023	Q3-FY2023	Q2-FY2023	Q1-FY2023	Q4-FY2022	Q3-FY2022	Q2-FY2022	Q1-FY2022
Close Price of Common Stock	19.62$	10.79$	6.71$	4.85$	15.87$	22.70$	17.32$	17.34$	23.87$	22.98$	26.61$	20.23$	17.16$	14.59$	9.49$	13.14$	35.54$
Market Cap of Common Stock	2,577,468,550$	1,413,565,357$	877,123,638$	630,092,056$	2,057,089,698$	2,928,100,853$	2,214,533,646$	2,204,499,433$	2,847,874,918$	2,723,292,721$	3,111,515,389$	2,350,467,501$	1,988,257,317$	1,667,157,619$	523,563,775$	711,442,634$
QoQ%	82.34%	61.16%	39.21%	(69.37%)	(29.75%)	32.22%	.46%	(22.59%)	4.58%	(12.48%)	32.38%	18.22%	19.26%	218.43%	(26.41%)
YoY%	25.30%	(51.72%)	(60.39%)	(71.42%)	(27.77%)	7.52%	(28.83%)	(6.21%)	43.24%	63.35%	494.30%	230.38%
Common Shares Outstanding	131,369,447	131,036,790	130,723,258	129,985,932	129,482,668	128,853,380	127,910,081	126,843,301	121,113,282	116,677,851	117,456,282	116,266,838	115,393,437	114,944,100	55,625,566	54,143,275	54,143,275
QoQ%	.25%	.24%	.57%	.39%	.49%	.74%	.84%	4.73%	3.80%	(.66%)	1.02%	.76%	.39%	106.64%	2.74%	.00%
YoY%	1.46%	1.69%	2.20%	2.48%	6.91%	10.44%	8.90%	9.10%	4.96%	1.51%	111.16%	114.74%	113.13%
Price to Sales	1.14x	.62x	.36x	.27x	.82x	1.09x	1.03x	1.00x	1.25x	1.23x	1.57x	1.39x	1.49x	1.39x	.55x	.72x
Price to Earnings	-	-	-	-	-	128.90x	-	-	-	-	-	-	-	-	-	-
Price to Book	6.00x	3.29x	2.15x	1.62x	5.02x	6.20x	5.26x	5.34x	6.85x	6.77x	7.93x	5.83x	4.72x	3.83x	1.14x	2.95x
Total Revenue		1,041,891,000$	602,533,000$	431,618,000$	186,788,000$	1,228,148,000$	483,317,000$	623,141,000$	363,956,000$	672,981,000$	536,351,000$	698,186,000$	310,460,000$	441,982,000$	239,010,000$	342,724,000$	174,887,000$	188,205,000$	278,195,000$	98,133,000$	116,233,000$
QoQ%		72.92%	39.60%	131.07%	(84.79%)	154.11%	(22.44%)	71.21%	(45.92%)	25.47%	(23.18%)	124.89%	(29.76%)	84.92%	(30.26%)	95.97%	(7.08%)	(32.35%)	183.49%	(15.57%)
YoY%		(15.17%)	24.67%	(30.74%)	(48.68%)	82.49%	(9.89%)	(10.75%)	17.23%	52.26%	124.41%	103.72%	77.52%	134.84%	(14.09%)	249.24%	50.46%
TTM		2,262,830,000$	2,449,087,000$	2,329,871,000$	2,521,394,000$	2,698,562,000$	2,143,395,000$	2,196,429,000$	2,271,474,000$	2,217,978,000$	1,986,979,000$	1,689,638,000$	1,334,176,000$	1,198,603,000$	944,826,000$	984,011,000$	739,420,000$	680,766,000$
TTM_QoQ%		(7.61%)	5.12%	(7.60%)	(6.57%)	25.90%	(2.42%)	(3.30%)	2.41%	11.63%	17.60%	26.64%	11.31%	26.86%	(3.98%)	33.08%	8.62%
TTM_YoY%		(16.15%)	14.26%	6.08%	11.00%	21.67%	7.87%	29.99%	70.25%	85.05%	110.30%	71.71%	80.44%	76.07%
Gross Margin		13.72%	14.79%	9.87%	11.35%	12.82%	17.18%	10.30%	10.00%	11.34%	4.07%	4.41%	3.88%	2.43%	(2.17%)	(4.30%)	(30.39%)	(31.88%)	(5.38%)	1.03%	4.13%
QoQ		(1.07%)	4.92%	(1.48%)	(1.47%)	(4.36%)	6.88%	.30%	(1.34%)	7.27%	(.35%)	.54%	1.45%	4.60%	2.13%	26.09%	1.49%	(26.51%)	(6.41%)	(3.10%)
YoY		.89%	(2.40%)	(.43%)	1.35%	1.49%	13.11%	5.89%	6.12%	8.91%	6.24%	8.72%	34.27%	34.31%	3.20%	(5.34%)	(34.52%)
Operating Income
QoQ%
YoY%
TTM
TTM_QoQ%
TTM_YoY%
Operating Margin
QoQ
YoY
Net Income		24,062,000$	6,894,000$	(41,932,000$)	(57,013,000$)	67,724,000$	1,075,000$	(12,876,000$)	(25,556,000$)	4,818,000$	(35,045,000$)	(37,397,000$)	(37,193,000$)	(56,184,000$)	(60,829,000$)	(60,704,000$)	(91,143,000$)	(87,199,000$)	(38,776,000$)	(23,532,000$)	(12,496,000$)
QoQ%		249.03%	116.44%	26.45%	(184.18%)	6,199.91%	108.35%	49.62%	(630.43%)	113.75%	6.29%	(.55%)	33.80%	7.64%	(.21%)	33.40%	(4.52%)	(124.88%)	(64.78%)	(88.32%)
YoY%		(64.47%)	541.30%	(225.66%)	(123.09%)	1,305.65%	103.07%	65.57%	31.29%	108.58%	42.39%	38.40%	59.19%	35.57%	(56.87%)	(157.96%)	(629.38%)
TTM		(67,989,000$)	(24,327,000$)	(30,146,000$)	(1,090,000$)	30,367,000$	(32,539,000$)	(68,659,000$)	(93,180,000$)	(104,817,000$)	(165,819,000$)	(191,603,000$)	(214,910,000$)	(268,860,000$)	(299,875,000$)	(277,822,000$)	(240,650,000$)	(162,003,000$)
TTM_QoQ%		(179.48%)	19.30%	(2,665.69%)	(103.59%)	193.33%	52.61%	26.32%	11.10%	36.79%	13.46%	10.85%	20.07%	10.34%	(7.94%)	(15.45%)	(48.55%)
TTM_YoY%		(323.89%)	25.24%	56.09%	98.83%	128.97%	80.38%	64.17%	56.64%	61.01%	44.70%	31.03%	10.70%	(65.96%)
Profit Margin		2.31%	1.14%	(9.72%)	(30.52%)	5.51%	.22%	(2.07%)	(7.02%)	.72%	(6.53%)	(5.36%)	(11.98%)	(12.71%)	(25.45%)	(17.71%)	(52.12%)	(46.33%)	(13.94%)	(23.98%)	(10.75%)
QoQ		1.17%	10.86%	20.81%	(36.04%)	5.29%	2.29%	4.96%	(7.74%)	7.25%	(1.18%)	6.62%	.73%	12.74%	(7.74%)	34.40%	(5.78%)	(32.39%)	10.04%	(13.23%)
YoY		(3.21%)	.92%	(7.65%)	(23.50%)	4.80%	6.76%	3.29%	4.96%	13.43%	18.92%	12.36%	40.14%	33.62%	(11.51%)	6.27%	(41.36%)
Equity to Common Shareholders		429,595,000$	407,384,000$	388,170,000$	409,435,000$	472,104,000$	421,165,000$	413,074,000$	415,909,000$	402,346,000$	392,610,000$	403,316,000$	420,848,000$	435,830,000$	458,935,000$	241,437,000$	252,547,000$	(173,434,000$)	(86,459,000$)	(53,982,000$)	(30,572,000$)
QoQ		22,211,000$	19,214,000$	(21,265,000$)	(62,669,000$)	50,939,000$	8,091,000$	(2,835,000$)	13,563,000$	9,736,000$	(10,706,000$)	(17,532,000$)	(14,982,000$)	(23,105,000$)	217,498,000$	(11,110,000$)	425,981,000$	(86,975,000$)	(32,477,000$)	(23,410,000$)
QoQ%		5.45%	4.95%	(5.19%)	(13.27%)	12.10%	1.96%	(.68%)	3.37%	2.48%	(2.65%)	(4.17%)	(3.44%)	(5.03%)	90.09%	(4.40%)	245.62%	(100.60%)	(60.16%)	(76.57%)
YoY		(42,509,000$)	(13,781,000$)	(24,904,000$)	(6,474,000$)	69,758,000$	28,555,000$	9,758,000$	(4,939,000$)	(33,484,000$)	(66,325,000$)	161,879,000$	168,301,000$	609,264,000$	545,394,000$	295,419,000$	283,119,000$
YoY%		(9.00%)	(3.27%)	(6.03%)	(1.56%)	17.34%	7.27%	2.42%	(1.17%)	(7.68%)	(14.45%)	67.05%	66.64%	351.29%	630.81%	547.26%	926.07%
Dividends Paid		0$	0$
Additional Paid-In Capital QoQ		4,728,000$	7,232,000$	4,014,000$	(22,869,000$)	6,928,000$	10,130,000$	7,563,000$	29,126,000$	7,254,000$	10,628,000$	8,298,000$	12,322,000$	11,855,000$	241,319,000$	8,081,000$
Treasury Stock		10,213,000$	9,950,000$	9,950,000$	9,856,000$	9,460,000$	9,040,000$	7,885,000$	7,797,000$	7,797,000$	6,632,000$	5,301,000$	5,301,000$	5,013,000$	4,991,000$
QoQ		263,000$	0$	94,000$	396,000$	420,000$	1,155,000$	88,000$	0$	1,165,000$	1,331,000$	0$	288,000$	22,000$
Goodwill		28,584,000$	28,665,000$	26,603,000$	26,199,000$	27,482,000$	26,337,000$	26,266,000$	27,535,000$	26,020,000$	26,286,000$	25,944,000$	25,816,000$	24,851,000$	25,214,000$	9,168,000$	9,167,000$	9,176,000$	9,201,000$	9,199,000$	9,203,000$
QoQ%		(.28%)	7.75%	1.54%	(4.67%)	4.35%	.27%	(4.61%)	5.82%	(1.01%)	1.32%	.50%	3.88%	(1.44%)	175.02%	.01%	(.10%)	(.27%)	.02%	(.04%)
YoY%		4.01%	8.84%	1.28%	(4.85%)	5.62%	.19%	1.24%	6.66%	4.70%	4.25%	182.98%	181.62%	170.83%	174.04%	(.34%)	(.39%)
Other Intangible Assets		63,403,000$	62,273,000$	59,428,000$	58,589,000$	60,002,000$	58,628,000$	57,172,000$	56,780,000$	55,752,000$	55,438,000$	49,676,000$	51,482,000$	51,696,000$	53,496,000$	34,439,000$	35,145,000$	36,057,000$
QoQ		1,130,000$	2,845,000$	839,000$	(1,413,000$)	1,374,000$	1,456,000$	392,000$	1,028,000$	314,000$	5,762,000$	(1,806,000$)	(214,000$)	(1,800,000$)	19,057,000$	(706,000$)	(912,000$)
Amortization of Intangible Assets		3,700,000$	3,800,000$	2,900,000$	2,300,000$	2,900,000$	2,200,000$	1,700,000$	1,900,000$	1,300,000$	1,900,000$	1,400,000$	1,500,000$	1,400,000$	1,300,000$	900,000$	900,000$	1,000,000$	900,000$	900,000$	800,000$
Total Assets		2,357,000,000$	2,075,150,000$	2,273,146,000$	2,213,977,000$	1,902,188,000$	1,689,953,000$	1,529,843,000$	1,815,494,000$	1,352,149,000$	1,564,738,000$	1,947,587,000$	2,151,927,000$	1,745,654,000$	1,672,575,000$	1,500,936,000$	1,482,654,000$	717,675,000$
QoQ		281,850,000$	(197,996,000$)	59,169,000$	311,789,000$	212,235,000$	160,110,000$	(285,651,000$)	463,345,000$	(212,589,000$)	(382,849,000$)	(204,340,000$)	406,273,000$	73,079,000$	171,639,000$	18,282,000$	764,979,000$
YoY		454,812,000$	385,197,000$	743,303,000$	398,483,000$	550,039,000$	125,215,000$	(417,744,000$)	(336,433,000$)	(393,505,000$)	(107,837,000$)	446,651,000$	669,273,000$	1,027,979,000$
Total Liabilities		1,808,152,000$	1,554,306,000$	1,774,083,000$	1,684,677,000$	1,295,049,000$	1,151,776,000$	998,107,000$	1,276,339,000$	795,819,000$	1,019,289,000$	1,379,592,000$	1,552,910,000$	1,116,446,000$	1,001,492,000$	775,479,000$	704,554,000$	773,874,000$
QoQ		253,846,000$	(219,777,000$)	89,406,000$	389,628,000$	143,273,000$	153,669,000$	(278,232,000$)	480,520,000$	(223,470,000$)	(360,303,000$)	(173,318,000$)	436,464,000$	114,954,000$	226,013,000$	70,925,000$	(69,320,000$)
YoY		513,103,000$	402,530,000$	775,976,000$	408,338,000$	499,230,000$	132,487,000$	(381,485,000$)	(276,571,000$)	(320,627,000$)	17,797,000$	604,113,000$	848,356,000$	342,572,000$
Current Ratio		1.51x	1.64x	1.51x	1.57x	1.33x	1.34x	1.36x	1.33x	1.60x	1.46x	1.34x	1.32x	1.44x	1.56x	1.83x	1.97x	.86x
Total Current Assets		2,064,256,000$	1,849,696,000$	2,031,321,000$	1,983,628,000$	1,680,443,000$	1,503,960,000$	1,322,731,000$	1,665,499,000$	1,194,960,000$	1,389,469,000$	1,808,401,000$	2,010,128,000$	1,601,533,000$	1,550,747,000$	1,415,920,000$	1,381,335,000$	661,515,000$
QoQ		214,560,000$	(181,625,000$)	47,693,000$	303,185,000$	176,483,000$	181,229,000$	(342,768,000$)	470,539,000$	(194,509,000$)	(418,932,000$)	(201,727,000$)	408,595,000$	50,786,000$	134,827,000$	34,585,000$	719,820,000$
Total Current Liabilities		1,370,369,000$	1,124,834,000$	1,345,476,000$	1,261,367,000$	1,258,835,000$	1,124,706,000$	973,113,000$	1,251,922,000$	745,663,000$	954,219,000$	1,344,965,000$	1,526,354,000$	1,109,463,000$	994,038,000$	774,777,000$	702,355,000$	771,493,000$
QoQ		245,535,000$	(220,642,000$)	84,109,000$	2,532,000$	134,129,000$	151,593,000$	(278,809,000$)	506,259,000$	(208,556,000$)	(390,746,000$)	(181,389,000$)	416,891,000$	115,425,000$	219,261,000$	72,422,000$	(69,138,000$)
Debt to Asset Ratio		.77x	.75x	.78x	.76x	.68x	.68x	.65x	.70x	.59x	.65x	.71x	.72x	.64x	.60x	.52x	.48x	1.08x
Long Term Debt										28,024,000$	49,505,000$	21,602,000$	21,142,000$
QoQ										(21,481,000$)	27,903,000$	460,000$
YoY
Capital Lease Obligations		11,833,000$				8,556,000$			4,491,000$	2,903,000$				2,743,000$			3,700,000$
Cash and Cash Equivalents		690,768,000$	436,322,000$	568,622,000$	607,356,000$	448,685,000$	388,242,000$	411,798,000$	317,614,000$	345,896,000$	297,709,000$	194,357,000$	286,735,000$	357,296,000$	676,951,000$	651,948,000$	632,143,000$	36,829,000$	58,497,000$	29,883,000$	37,572,000$
QoQ		254,446,000$	(132,300,000$)	(38,734,000$)	158,671,000$	60,443,000$	(23,556,000$)	94,184,000$	(28,282,000$)	48,187,000$	103,352,000$	(92,378,000$)	(70,561,000$)	(319,655,000$)	25,003,000$	19,805,000$	595,314,000$	(21,668,000$)	28,614,000$	(7,689,000$)
YoY		242,083,000$	48,080,000$	156,824,000$	289,742,000$	102,789,000$	90,533,000$	217,441,000$	30,879,000$	(11,400,000$)	(379,242,000$)	(457,591,000$)	(345,408,000$)	320,467,000$	618,454,000$	622,065,000$	594,571,000$
Interest Expenses		3,377,000$	1,083,000$	391,000$	0$	0$	0$	0$	0$	0$	1,513,000$	1,144,000$	816,000$	80,000$	573,000$	676,000$	682,000$	536,000$	424,000$	386,000$	89,000$
Interest Income		0$	0$	0$	500,000$	900,000$	1,200,000$	1,100,000$	1,200,000$

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