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Stock Comparison

FCEL vs CLNE

Revenue, margins, valuation, and 5-year total return — side by side.

Live fundamentals10-year financials5-year price chart
FCEL
FuelCell Energy, Inc.

Electrical Equipment & Parts

IndustrialsNASDAQ • US
Market Cap$646M
5Y Perf.-80.8%
CLNE
Clean Energy Fuels Corp.

Oil & Gas Refining & Marketing

EnergyNASDAQ • US
Market Cap$507M
5Y Perf.+10.5%

FCEL vs CLNE — Key Financials

Market cap, revenue, margins, and valuation side-by-side.

Company Snapshot
FCEL logoFCEL
CLNE logoCLNE
IndustryElectrical Equipment & PartsOil & Gas Refining & Marketing
Market Cap$646M$507M
Revenue (TTM)$170M$439M
Net Income (TTM)$-183M$-99M
Gross Margin-15.9%11.7%
Operating Margin-67.6%7.4%
Total Debt$144M$99M
Cash & Equiv.$295M$158M

FCEL vs CLNELong-Term Stock Performance

Price return indexed to 100 at period start. Dividends excluded.

FCEL
CLNE
StockMay 20May 26Return
FuelCell Energy, In… (FCEL)10019.2-80.8%
Clean Energy Fuels … (CLNE)100110.5+10.5%

Price return only. Dividends and distributions are not included.

Quick Verdict: FCEL vs CLNE

Each card shows where this stock fits in a portfolio — not just who wins on paper.

Bottom line: FCEL and CLNE are tied at the top with 3 categories each — the right choice depends on your priorities. Clean Energy Fuels Corp. is the stronger pick specifically for profitability and margin quality and capital preservation and lower volatility. This set spans 2 sectors — these stocks serve different portfolio roles, not just different price points.
FCEL
FuelCell Energy, Inc.
The Growth Play

FCEL carries the broadest edge in this set and is the clearest fit for growth exposure.

  • Rev growth 41.0%, EPS growth -14.1%, 3Y rev CAGR 6.6%
  • 41.0% revenue growth vs CLNE's 2.2%
  • 1.0% yield; 2-year raise streak; the other pay no meaningful dividend
Best for: growth exposure
CLNE
Clean Energy Fuels Corp.
The Income Pick

CLNE is the clearest fit if your priority is income & stability and long-term compounding.

  • beta 1.19
  • -26.9% 10Y total return vs FCEL's -99.4%
  • Lower volatility, beta 1.19, Low D/E 17.5%, current ratio 2.32x
Best for: income & stability and long-term compounding
See the full category breakdown
CategoryWinnerWhy
GrowthFCEL logoFCEL41.0% revenue growth vs CLNE's 2.2%
Quality / MarginsCLNE logoCLNE-22.7% margin vs FCEL's -108.0%
Stability / SafetyCLNE logoCLNEBeta 1.19 vs FCEL's 2.91, lower leverage
DividendsFCEL logoFCEL1.0% yield; 2-year raise streak; the other pay no meaningful dividend
Momentum (1Y)FCEL logoFCEL+219.0% vs CLNE's +44.4%
Efficiency (ROA)CLNE logoCLNE-9.2% ROA vs FCEL's -20.1%, ROIC -9.4% vs -14.0%

FCEL vs CLNE — Revenue Breakdown by Segment

How each company's revenue is distributed across its business units

FCELFuelCell Energy, Inc.
FY 2024
Electricity, Generation
53.8%$172M
Product
34.8%$111M
Advanced Technologies
8.3%$27M
Service
3.1%$10M
CLNEClean Energy Fuels Corp.
FY 2025
Product
77.0%$365M
Service
12.5%$59M
Station construction sales
7.2%$34M
LCFS Credits
2.7%$13M
Other services
0.6%$3M
Federal Alternative Fuels Tax Credit
0.0%$198,000

FCEL vs CLNE — Financial Metrics

Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.

BEST OVERALLCLNELAGGINGFCEL

Income & Cash Flow (Last 12 Months)

CLNE leads this category, winning 5 of 6 comparable metrics.

CLNE is the larger business by revenue, generating $439M annually — 2.6x FCEL's $170M. CLNE is the more profitable business, keeping -22.7% of every revenue dollar as net income compared to FCEL's -108.0%. On growth, FCEL holds the edge at +60.7% YoY revenue growth, suggesting stronger near-term business momentum.

MetricFCEL logoFCELFuelCell Energy, …CLNE logoCLNEClean Energy Fuel…
RevenueTrailing 12 months$170M$439M
EBITDAEarnings before interest/tax-$84M$62M
Net IncomeAfter-tax profit-$183M-$99M
Free Cash FlowCash after capex-$126M$19M
Gross MarginGross profit ÷ Revenue-15.9%+11.7%
Operating MarginEBIT ÷ Revenue-67.6%+7.4%
Net MarginNet income ÷ Revenue-108.0%-22.7%
FCF MarginFCF ÷ Revenue-74.2%+4.3%
Rev. Growth (YoY)Latest quarter vs prior year+60.7%+13.3%
EPS Growth (YoY)Latest quarter vs prior year+65.5%+90.0%
CLNE leads this category, winning 5 of 6 comparable metrics.

Valuation Metrics

CLNE leads this category, winning 2 of 3 comparable metrics.
MetricFCEL logoFCELFuelCell Energy, …CLNE logoCLNEClean Energy Fuel…
Market CapShares × price$646M$507M
Enterprise ValueMkt cap + debt − cash$495M$448M
Trailing P/EPrice ÷ TTM EPS-1.66x-2.29x
Forward P/EPrice ÷ next-FY EPS est.
PEG RatioP/E ÷ EPS growth rate
EV / EBITDAEnterprise value multiple94.64x
Price / SalesMarket cap ÷ Revenue4.08x1.19x
Price / BookPrice ÷ Book value/share0.43x0.90x
Price / FCFMarket cap ÷ FCF8.47x
CLNE leads this category, winning 2 of 3 comparable metrics.

Profitability & Efficiency

CLNE leads this category, winning 7 of 8 comparable metrics.

CLNE delivers a -17.2% return on equity — every $100 of shareholder capital generates $-17 in annual profit, vs $-27 for FCEL. CLNE carries lower financial leverage with a 0.18x debt-to-equity ratio, signaling a more conservative balance sheet compared to FCEL's 0.20x.

MetricFCEL logoFCELFuelCell Energy, …CLNE logoCLNEClean Energy Fuel…
ROE (TTM)Return on equity-26.8%-17.2%
ROA (TTM)Return on assets-20.1%-9.2%
ROICReturn on invested capital-14.0%-9.4%
ROCEReturn on capital employed-13.8%-9.4%
Piotroski ScoreFundamental quality 0–955
Debt / EquityFinancial leverage0.20x0.18x
Net DebtTotal debt minus cash-$151M-$59M
Cash & Equiv.Liquid assets$295M$158M
Total DebtShort + long-term debt$144M$99M
Interest CoverageEBIT ÷ Interest expense-30.14x-1.07x
CLNE leads this category, winning 7 of 8 comparable metrics.

Total Returns (Dividends Reinvested)

CLNE leads this category, winning 4 of 6 comparable metrics.

A $10,000 investment in CLNE five years ago would be worth $2,619 today (with dividends reinvested), compared to $500 for FCEL. Over the past 12 months, FCEL leads with a +219.0% total return vs CLNE's +44.4%. The 3-year compound annual growth rate (CAGR) favors CLNE at -18.7% vs FCEL's -44.5% — a key indicator of consistent wealth creation.

MetricFCEL logoFCELFuelCell Energy, …CLNE logoCLNEClean Energy Fuel…
YTD ReturnYear-to-date+50.3%+6.9%
1-Year ReturnPast 12 months+219.0%+44.4%
3-Year ReturnCumulative with dividends-82.9%-46.3%
5-Year ReturnCumulative with dividends-95.0%-73.8%
10-Year ReturnCumulative with dividends-99.4%-26.9%
CAGR (3Y)Annualised 3-year return-44.5%-18.7%
CLNE leads this category, winning 4 of 6 comparable metrics.

Risk & Volatility

Evenly matched — FCEL and CLNE each lead in 1 of 2 comparable metrics.

CLNE is the less volatile stock with a 1.19 beta — it tends to amplify market swings less than FCEL's 2.91 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. FCEL currently trades 85.9% from its 52-week high vs CLNE's 74.3% drawdown — a narrower gap to the peak suggests stronger recent price momentum.

MetricFCEL logoFCELFuelCell Energy, …CLNE logoCLNEClean Energy Fuel…
Beta (5Y)Sensitivity to S&P 5002.91x1.19x
52-Week HighHighest price in past year$14.30$3.11
52-Week LowLowest price in past year$3.66$1.56
% of 52W HighCurrent price vs 52-week peak+85.9%+74.3%
RSI (14)Momentum oscillator 0–10064.944.6
Avg Volume (50D)Average daily shares traded3.8M1.3M
Evenly matched — FCEL and CLNE each lead in 1 of 2 comparable metrics.

Analyst Outlook

Insufficient data to determine a leader in this category.

Wall Street rates FCEL as "Hold" and CLNE as "Buy". Consensus price targets imply 51.5% upside for CLNE (target: $4) vs -28.9% for FCEL (target: $9). FCEL is the only dividend payer here at 1.01% yield — a key consideration for income-focused portfolios.

MetricFCEL logoFCELFuelCell Energy, …CLNE logoCLNEClean Energy Fuel…
Analyst RatingConsensus buy/hold/sellHoldBuy
Price TargetConsensus 12-month target$8.73$3.50
# AnalystsCovering analysts1922
Dividend YieldAnnual dividend ÷ price+1.0%
Dividend StreakConsecutive years of raises2
Dividend / ShareAnnual DPS$0.12
Buyback YieldShare repurchases ÷ mkt cap0.0%+1.6%
Insufficient data to determine a leader in this category.
Key Takeaway

CLNE leads in 4 of 6 categories — strongest in Income & Cash Flow and Valuation Metrics. 1 category is tied.

Best OverallClean Energy Fuels Corp. (CLNE)Leads 4 of 6 categories
Loading custom metrics...

FCEL vs CLNE: Frequently Asked Questions

8 questions · data-driven answers · updated daily

01

Is FCEL or CLNE a better buy right now?

For growth investors, FuelCell Energy, Inc.

(FCEL) is the stronger pick with 41. 0% revenue growth year-over-year, versus 2. 2% for Clean Energy Fuels Corp. (CLNE). Analysts rate Clean Energy Fuels Corp. (CLNE) a "Buy" — based on 22 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.

02

Which is the better long-term investment — FCEL or CLNE?

Over the past 5 years, Clean Energy Fuels Corp.

(CLNE) delivered a total return of -73. 8%, compared to -95. 0% for FuelCell Energy, Inc. (FCEL). Over 10 years, the gap is even starker: CLNE returned -26. 9% versus FCEL's -99. 4%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.

03

Which is safer — FCEL or CLNE?

By beta (market sensitivity over 5 years), Clean Energy Fuels Corp.

(CLNE) is the lower-risk stock at 1. 19β versus FuelCell Energy, Inc. 's 2. 91β — meaning FCEL is approximately 144% more volatile than CLNE relative to the S&P 500. On balance sheet safety, Clean Energy Fuels Corp. (CLNE) carries a lower debt/equity ratio of 18% versus 20% for FuelCell Energy, Inc. — giving it more financial flexibility in a downturn.

04

Which is growing faster — FCEL or CLNE?

By revenue growth (latest reported year), FuelCell Energy, Inc.

(FCEL) is pulling ahead at 41. 0% versus 2. 2% for Clean Energy Fuels Corp. (CLNE). On earnings-per-share growth, the picture is similar: Clean Energy Fuels Corp. grew EPS -173. 0% year-over-year, compared to -1414. 3% for FuelCell Energy, Inc.. Over a 3-year CAGR, FCEL leads at 6. 6% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.

05

Which has better profit margins — FCEL or CLNE?

Clean Energy Fuels Corp.

(CLNE) is the more profitable company, earning -52. 3% net margin versus -118. 8% for FuelCell Energy, Inc. — meaning it keeps -52. 3% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: CLNE leads at -22. 1% versus -76. 6% for FCEL. At the gross margin level — before operating expenses — CLNE leads at 4. 2%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.

06

Which pays a better dividend — FCEL or CLNE?

In this comparison, FCEL (1.

0% yield) pays a dividend. CLNE does not pay a meaningful dividend and should not be held primarily for income.

07

Is FCEL or CLNE better for a retirement portfolio?

For long-horizon retirement investors, Clean Energy Fuels Corp.

(CLNE) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 1. 19)). FuelCell Energy, Inc. (FCEL) carries a higher beta of 2. 91 — meaning larger drawdowns in market downturns, which matters significantly when you cannot wait years for a recovery. Both have compounded well over 10 years (CLNE: -26. 9%, FCEL: -99. 4%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.

08

What are the main differences between FCEL and CLNE?

These companies operate in different sectors (FCEL (Industrials) and CLNE (Energy)), which means they face different economic cycles, regulatory environments, and macro sensitivities — making direct comparison nuanced.

In terms of investment character: FCEL is a small-cap high-growth stock; CLNE is a small-cap quality compounder stock. FCEL pays a dividend while CLNE does not, making them suitable for different income and tax situations. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.

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