Fervo Energy Past Earnings Performance

Past criteria checks 0/6

Fervo Energy's earnings have been declining at an average annual rate of -71.5%, while the Renewable Energy industry saw earnings growing at 11.3% annually. Revenues have been declining at an average rate of 30.7% per year.

Key information

-71.53%

Earnings growth rate

-71.20%

EPS growth rate

Renewable Energy Industry Growth	-5.84%
Revenue growth rate	-30.65%
Return on equity	-6.04%
Net Margin	-51,097.83%
Last Earnings Update	31 Dec 2025

Recent past performance updates

No updates

Recent updates

Seeking Alpha • May 14

Fervo Energy: Energized From The Ground

Summary Fervo Energy surged 40% on IPO debut, reflecting investor enthusiasm for its scalable geothermal energy vision. Fervo boasts $7B in contracted revenue, 658MW under PPAs, and high-profile clients like Google, but has yet to commence commercial operations. Significant risks persist: no operational track record, large capital expenditures, technical and economic uncertainties, and concentrated project exposure. Despite compelling clean energy potential, conviction is tempered by execution risk and the need for proven durability and reliability. Read the full article on Seeking Alpha

Revenue & Expenses Breakdown

How Fervo Energy makes and spends money. Based on latest reported earnings, on an LTM basis.

Earnings and Revenue History

NasdaqGS:FRVO Revenue, expenses and earnings (USD Millions)
Date	Revenue	Earnings	G+A Expenses	R&D Expenses
31 Dec 25	0	-71	48	0
31 Dec 24	0	-41	42	0

Quality Earnings: FRVO is currently unprofitable.

Growing Profit Margin: FRVO is currently unprofitable.

Free Cash Flow vs Earnings Analysis

Past Earnings Growth Analysis

Earnings Trend: Unable to establish if FRVO's year-on-year earnings growth rate was positive over the past 5 years as it has been trading publicly for less than 3 years.

Accelerating Growth: Unable to compare FRVO's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: FRVO is unprofitable, making it difficult to compare its past year earnings growth to the Renewable Energy industry (-8.3%).

Return on Equity

High ROE: FRVO has a negative Return on Equity (-6.04%), as it is currently unprofitable.

Return on Assets

Return on Capital Employed

Discover strong past performing companies

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2026/05/15 11:29
End of Day Share Price	2026/05/15 00:00
Earnings	2025/12/31
Annual Earnings	2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Fervo Energy Company is covered by 0 analysts. 0 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.