The analysis highlights Bloom Energy's $20 billion backlog at the end of 2025, nearly ten times its 2025 revenue of $2.02 billion. Analysts expect Bloom's revenue to grow at a 70% CAGR and adjusted EBITDA at a 120% CAGR from 2025 to 2028, with GAAP profitability projected for 2026. In comparison, Palantir's revenue and adjusted EBITDA are expected to grow at 58% and 72% CAGRs respectively over the same period, having been GAAP profitable since 2023. Bloom Energy trades at 14 times this year's sales and 66 times adjusted EBITDA, while Palantir trades at 50 times sales and 81 times adjusted EBITDA.