Bloom Energy and Vertiv both sit near the data-center buildout, but they do different jobs. Bloom supplies onsite generation; Vertiv sells power-management and cooling infrastructure. That makes this a comparison of two business exposures and their cash tests, not a claim that the companies are direct product substitutes.
Keep the reporting windows visible
Bloom's latest report is for the three months ended September 30, 2026. Vertiv's latest published quarterly results cover the three months ended June 30. The quarters are not synchronized. Compare each company's change against its own prior-year period and keep the dates attached; the raw revenue totals do not decide which stock is better.
Bloom reported $1.236 billion of Q3 revenue, up 138.1% year over year. GAAP operating income reached $225.4 million, an 18.2% margin, versus $7.8 million and 1.5% in Q3 2025. Its non-GAAP operating income was $285.7 million, which includes adjustments and is a separate measure.
Vertiv reported $3.274 billion of Q2 sales, up 24.1% year over year, and $637.9 million of GAAP operating profit, a 19.5% margin versus 16.8% a year earlier. Bloom is growing faster off a different base; Vertiv's latest reported business is larger in dollars. Neither statement compares a matched quarter or a common product category.
Bloom Q3 2026 results � Vertiv Q2 2026 results.
Cash is the important dividing line
Bloom's Q3 operating cash flow was negative $27.1 million. Property, plant and equipment purchases were $153.5 million. Subtracting those cash purchases gives a negative $180.6 million arithmetic remainder. This is our defined calculation, not a company-defined free-cash-flow figure. It is one quarter, not a verdict on the full-year business.
Vertiv's earlier Q2 generated $1.100 billion of operating cash and $925.3 million of company-defined adjusted free cash flow, after $173.3 million in capital expenditures and $1.2 million in capitalized software investment. These are different periods and definitions. The contrast is still useful: Bloom's latest rapid growth has not yet produced positive cash after this investment bill, while Vertiv's latest reported quarter did. Working capital and timing can move either figure.
What each outlook actually promises
Bloom raised its full-year 2026 revenue guidance to $4.4 billion�$4.6 billion and non-GAAP operating-income guidance to $960 million�$1.030 billion. Those are management forecasts, not delivered results. Capacity expansion, installation timing, financing and collections are the next checks against the growth story.
Vertiv's July release guided full-year 2026 sales to $13.8 billion�$14.2 billion and adjusted free cash flow to $2.4 billion�$2.6 billion. Its next quarterly report could change that outlook. We do not present a July forecast as a fresh October update.
The separate stock-price scorecards
Bloom closed October 22 at $217.77. Its separate corroborated October 23 regular-session observation was $191.33, down 12.14% from that close and below Thursday's $210.74 intraday low. That old low now needs a reclaim. Bloom also stood below the completed 20-, 50- and 200-day averages of $262.07, $249.16 and $218.86. The sharp short-term break belongs beside, not in place of, its broader trading-range context. Vertiv closed October 22 at $195.59. A separate October 23 observation was $195.59, roughly unchanged from that close and inside Thursday's $193.14�$204.00 range but below its completed 20-, 50- and 200-day averages of $233.15, $249.56 and $268.96. Neither current observation is a completed daily candle.
The two shares should be compared over an identical completed closing-price window, with dividends excluded and the full prior decline visible beside any rebound. One stock's sharper one-day move cannot decide the longer comparison. Bloom has a nearer reclaim test at the broken October 22 low; Vertiv still needs to repair its position relative to the completed averages. No level guarantees a reversal.
The business choice is specific. Bloom offers much faster latest reported growth but needs repeated evidence of positive operating cash after investment. Vertiv's earlier report showed slower growth and stronger cash conversion, but its period is older and its valuation can still outrun execution. For either share, a reclaimed level needs a daily retest and close above it; an intraday touch alone is not confirmation. Neither issuer's guidance is a price target.
Completed price history: Bloom � Vertiv � Bloom charts � Vertiv charts � More comparisons
Market research only, not a recommendation to buy or sell.