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Fluence Energy, Inc.

FLNC Clue Score57
United States Fiscal year ends September CIK 0001868941
$7.43 -0.27% Close, 9 Oct 2026
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Price $7.43 −78.77% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 28 Oct 2021. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueNet income
Fiscal year 2020Revenue561.3Net income−46.7Fiscal year 2021Revenue680.8 +21.3%Net income−162.0Fiscal year 2022Revenue1,198.6 +76.1%Net income−104.5EPS, diluted−1.50Fiscal year 2023Revenue2,218.0 +85.0%Net income−69.6EPS, diluted−0.60Fiscal year 2024Revenue2,698.6 +21.7%Net income22.7EPS, diluted0.13Fiscal year 2025Revenue2,262.8 −16.1%Net income−48.3 −312.7%EPS, diluted−0.37
FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 561.3 680.8 1,198.6 2,218.0 2,698.6 2,262.8
Growth +21.3% +76.1% +85.0% +21.7% −16.1%
Net income −46.7 −162.0 −104.5 −69.6 22.7 −48.3
Growth −312.7%
EPS, diluted n/a n/a −1.50 −0.60 0.13 −0.37

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginNet margin
Fiscal year 2020Gross margin1.4%Net margin−8.3%Free cash flow margin−2.8%Fiscal year 2021Gross margin−10.2%Net margin−23.8%Free cash flow margin−39.6%Fiscal year 2022Gross margin−5.2%Net margin−8.7%Free cash flow margin−24.2%Fiscal year 2023Gross margin6.4%Net margin−3.1%Free cash flow margin−5.2%Fiscal year 2024Gross margin12.6%Net margin0.8%Free cash flow margin2.7%Fiscal year 2025Gross margin13.1%Net margin−2.1%Free cash flow margin−7.1%
FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin 1.4% −10.2% −5.2% 6.4% 12.6% 13.1%
Net margin −8.3% −23.8% −8.7% −3.1% 0.8% −2.1%
Free cash flow margin −2.8% −39.6% −24.2% −5.2% 2.7% −7.1%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2020Operating cash flow−14.0Capital expenditure−1.8Free cash flow−15.8Buybacks0.0Fiscal year 2021Operating cash flow−265.3Capital expenditure−4.3Free cash flow−269.6Buybacks0.0Fiscal year 2022Operating cash flow−282.4Capital expenditure−7.9Free cash flow−290.3Buybacks−5.0Fiscal year 2023Operating cash flow−111.9Capital expenditure−3.0Free cash flow−114.9Buybacks−2.8Fiscal year 2024Operating cash flow79.7Capital expenditure−8.1Free cash flow71.6Fiscal year 2025Operating cash flow−145.5Capital expenditure−14.9Free cash flow−160.4 −324.1%
FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow −14.0 −265.3 −282.4 −111.9 79.7 −145.5
Capital expenditure −1.8 −4.3 −7.9 −3.0 −8.1 −14.9
Free cash flow −15.8 −269.6 −290.3 −114.9 71.6 −160.4
Growth −324.1%
Buybacks 0.0 0.0 −5.0 −2.8 n/a n/a

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2020Cash95.1Fiscal year 2021Cash36.8Shareholders’ equity−173.4Fiscal year 2022Cash357.3Total debt0.0Net cash (debt)357.3Shareholders’ equity435.8Debt to equity0.00Fiscal year 2023Cash345.9Total debt50.6Net cash (debt)295.3Shareholders’ equity402.3Debt to equity0.13Fiscal year 2024Cash448.7Total debt30.4Net cash (debt)418.3Shareholders’ equity472.1Debt to equity0.06Fiscal year 2025Cash690.8Total debt0.0Net cash (debt)690.8Shareholders’ equity429.6Debt to equity0.00
FY2020FY2021FY2022FY2023FY2024FY2025
Cash 95.1 36.8 357.3 345.9 448.7 690.8
Total debt n/a n/a 0.0 50.6 30.4 0.0
Net cash (debt) n/a n/a 357.3 295.3 418.3 690.8
Shareholders’ equity n/a −173.4 435.8 402.3 472.1 429.6
Debt to equity n/a n/a 0.00 0.13 0.06 0.00

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In millions of USD, except per-share figures; shares in millions. Fiscal years ending September, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2020 30 Sep 2020 FY2021 30 Sep 2021 FY2022 30 Sep 2022 FY2023† 30 Sep 2023 FY2024† 30 Sep 2024 FY2025 30 Sep 2025
Revenue and profit
561.3 680.8 1,198.6 2,218.0 2,698.6 2,262.8
Growth +21.3% +76.1% +85.0% +21.7% −16.1%
553.4 749.9 1,261.0 2,077.0 2,357.5 1,967.0
7.9 −69.1 −62.4 141.0 341.1 295.8
Growth −972.7% +142.0% −13.3%
11.5 23.4 60.1 66.3 66.2 86.2
17.9 38.2 116.7 136.3 173.0 163.1
−40.3 −160.2 −287.8 −100.3 39.6 −45.1
6.4 1.8 1.4 4.5 9.2 22.9
−46.7 −162.0 −104.5 −69.6 22.7 −48.3
Growth −312.7%
Per share
n/a n/a −1.50 −0.60 0.18 −0.37
n/a n/a −1.50 −0.60 0.13 −0.37
Growth −384.6%
n/a n/a 69.7 116.4 126.2 130.3
n/a n/a 69.7 116.4 184.0 130.3
Growth +67.0% +58.0% −29.2%

† The diluted share count jumps at 2023 and 2024, so per-share figures either side of that column are not comparable. Usually a split, but the break lands on the restatement boundary rather than on the split date, because every column is that period’s latest filing.

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 32.2% a year over five years.
  • Gross margin is up 11.7 points on five years ago, at 13.1%.
  • A net loss in 5 of 6 years on file.