Company Overview
Brenmiller Energy Ltd. is a specialized entity within the utilities sector, specifically operating in the renewable utilities industry, where it focuses on developing and commercializing thermal energy storage (TES) systems. The company leverages proprietary and patented technology to enable electrification and decarbonization efforts by providing the bGen TES system, which dispatches thermal energy on demand in the form of steam. As a micro-cap company, Brenmiller Energy Ltd. currently holds a market capitalization of $1.60M, reflecting its position as a small-scale player in the broader energy landscape. With an annual revenue of $387,000 and no reported employee count, the firm's financial scale indicates it is in an early-stage development phase or operates with a lean organizational structure. These valuation and revenue figures suggest that the company is generating minimal operating income relative to its potential market size, which is typical for renewable technology firms that are investing heavily in R&D and infrastructure before achieving economies of scale.
Financial Health
The company reported a revenue of $387,000 for the trailing twelve months, yet this revenue generated a net income of $-13,905,000 and an EBITDA of $-12,177,000. The substantial gap between the modest revenue figure and the massive negative net income reveals a cost structure characterized by extreme inefficiency or significant one-time charges that far exceed the company's top-line generation capabilities. Free cash flow stands at $-6,840,000, indicating that the company is burning through cash reserves at a rapid pace, which severely limits its current financial flexibility to fund operations without additional capital raises. All three margin metrics reflect this distress: the gross margin is 0.0%, the operating margin is -3291.5%, and the profit margin is 0.0%, collectively indicating that the company is losing money on every dollar of sales and has not yet achieved profitability. On the balance sheet, the company holds $4.91M in cash but carries $5.84M in debt, resulting in a debt-to-equity ratio of 167.23, which signifies a highly leveraged position where liabilities significantly outweigh equity. The current ratio of 1.33 suggests that while the company technically possesses more current assets than current liabilities, the liquidity buffer is thin given the aggressive cash burn rate. Furthermore, the return on equity is -348.5% and the return on assets is -65.2%, metrics that reveal that management is currently destroying shareholder value and utilizing assets to generate negative returns rather than positive growth.
Valuation Assessment
The P/E Ratio (TTM) and Forward P/E are both listed as N/A, which implies that traditional earnings-based valuation multiples cannot be applied due to the company's lack of profitability and negative earnings trajectory. The price-to-book ratio is 0.14, indicating that the stock trades at a fraction of its book value, which typically occurs when the market assigns a low premium or discount to the company's tangible assets due to high risk or poor performance. The price-to-sales ratio is 4.13, and the EV/EBITDA is -0.12; these alternative valuation metrics suggest that the market is pricing the stock based on revenue multiples rather than earnings power, likely because the denominator for earnings-based metrics is negative or zero. The 52-week high is $52.15 and the 52-week low is $0.55, meaning the current price sits at the extreme lower end of its trading range, reflecting a significant decline from its recent highs. The beta value is N/A, preventing a direct assessment of the stock's volatility relative to the broader market, though the wide spread between the high and low prices suggests inherent instability. The negative EV/EBITDA of -0.12 further underscores the inability of the company to generate earnings before interest, taxes, depreciation, and amortization, complicating standard valuation models used for mature utilities.
Growth & Income
Revenue growth year-over-year and earnings growth year-over-year are both listed as N/A, indicating that there is insufficient historical data or consistent reporting to calculate growth rates over a comparable period. The absence of a positive earnings growth rate relative to revenue implies that the company has not yet established a track record of scaling its operations to improve profitability. As a non-dividend payer, the company reports a dividend yield of N/A and a payout ratio of 0.0%, meaning it currently retains all earnings—however negative they may be—for reinvestment into its proprietary technology and operational expansion rather than distributing cash to shareholders. This reinvestment strategy is necessary for a company in its current stage but requires successful execution to eventually generate positive cash flows. The overall growth and income profile is defined by a lack of historical growth data and a complete absence of dividend income, positioning the asset strictly as a high-risk equity investment dependent on future operational breakthroughs.