FuelCell Energy, Inc. (FCEL) 10-Year Financial Performance & Capital Metrics

FCEL • • Industrial / General

IndustrialsElectrical EquipmentEnergy Storage SystemsFuel Cell Systems

AboutFuelCell Energy, Inc., together with its subsidiaries, designs, manufactures, sells, installs, operates, and services stationary fuel cell power plants for distributed baseload power generation. It offers SureSource1500, a 1.4-megawatt (MW) platform; SureSource 3000, a 2.8 MW platform; SureSource 4000, a 3.7 MW platform; SureSource 250, a 250- kilowatt (kW) platform; SureSource 400, a 400-kW platform; and SureSource Hydrogen, a 2.3 MW platform that is designed to produce up to 1,200 kilograms of hydrogen per day for multi-megawatt utility, microgrid, and distributed hydrogen applications, as well as on-site heat and chilling applications. It also provides SureSource Capture system that separates and concentrates carbon dioxide from the flue gases of natural gas, biomass, or coal-fired power plants, as well as industrial facilities; solid oxide fuel cell/solid oxide electrolysis cell stack technology. The company's SureSource power plants generate clean electricity, usable heat, water, and hydrogen. In addition, it provides engineering, procurement, and construction services; project financing services; and real-time monitoring and remote operation, online support system, preventative maintenance, parts and supplies, on-site and classroom training, and power plant refurbishment/recycling services, as well as technical services in the areas of plant operation and performance, and fuel processing. It serves various markets, including utilities and independent power producers, industrial and process applications, education and health care, data centers and communication, wastewater treatment, government, microgrids, food and beverage, and commercial and hospitality. The company primarily operates in the United States, South Korea, England, Germany, and Switzerland. FuelCell Energy, Inc. was founded in 1969 and is headquartered in Danbury, Connecticut.Show more

Revenue $0 -100.0%
EBITDA $0 +100.0%
Net Income -$191M -51.7%
EPS (Diluted) -7.42 -1414.3%
Gross Margin -
EBITDA Margin -
Operating Margin -
Net Margin -
ROE -27.32% -61.3%
ROIC -
Debt/Equity 0.04 -78.0%
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓Momentum leader: RS Rating 84 (top 16%)
✓Share count reduced 90.2% through buybacks
✓Trading at only 0.3x book value

✗Weaknesses

✗Trading more than 30% below 52-week high
✗Low asset turnover indicates capital-intensive operations

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y-

3Y-

TTM78.81%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-74.19%

EPS CAGR

10Y-

5Y-

3Y-

TTM-2793.57%

ROCE

10Y Avg-16.22%

5Y Avg-15.21%

3Y Avg-16.81%

Latest-

Peer Comparison

Fuel Cell Systems

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
PLUGPlug Power Inc.	3.15B	2.26	-0.92	-29.45%	-313.69%	-141.53%		0.60
FCELFuelCell Energy, Inc.	355.64M	7.45	-1.00	-100%	-131.33%	-32.04%		0.04
BEBloom Energy Corporation	32.92B	139.17	-1070.54	10.53%	0.84%	2.25%	0.1%	2.61

Profit & Loss

	Oct 2016	Oct 2017	Oct 2018	Oct 2019	Oct 2020	Oct 2021	Oct 2022	Oct 2023	Oct 2024	Oct 2025
Sales/Revenue+	108.25M	95.67M	89.44M	60.75M	70.87M	69.58M	130.48M	123.39M	112.13M	0
Revenue Growth %	-0.34%	-0.12%	-0.07%	-0.32%	0.17%	-0.02%	0.88%	-0.05%	-0.09%	-1%
Cost of Goods Sold+	108.61M	92.93M	86.34M	82.02M	78.6M	85.22M	160.06M	133.93M	148.05M	0
COGS % of Revenue	1%	0.97%	0.97%	1.35%	1.11%	1.22%	1.23%	1.09%	1.32%	-
Gross Profit+	-357K	2.73M	3.09M	-21.27M	-7.72M	-15.64M	-29.57M	-10.54M	-35.92M	0
Gross Margin %	-0%	0.03%	0.03%	-0.35%	-0.11%	-0.22%	-0.23%	-0.09%	-0.32%	-
Gross Profit Growth %	-1.03%	8.66%	0.13%	-7.88%	0.64%	-1.02%	-0.89%	0.64%	-2.41%	1%
Operating Expenses+	46M	46.31M	47.73M	45.66M	31.44M	49.26M	114.15M	125.55M	123.83M	0
OpEx % of Revenue	0.42%	0.48%	0.53%	0.75%	0.44%	0.71%	0.87%	1.02%	1.1%	-
Selling, General & Admin	25.15M	25.92M	24.91M	31.87M	26.64M	37.95M	79.62M	64.53M	64.6M	0
SG&A % of Revenue	0.23%	0.27%	0.28%	0.52%	0.38%	0.55%	0.61%	0.52%	0.58%	-
Research & Development	20.85M	20.4M	22.82M	13.79M	4.8M	11.31M	34.53M	61.02M	55.4M	0
R&D % of Revenue	0.19%	0.21%	0.26%	0.23%	0.07%	0.16%	0.26%	0.49%	0.49%	-
Other Operating Expenses	0	247K	0	93K	0	0	0	0	3.83M	0
Operating Income+	-46.35M	-44.94M	-44.63M	-66.93M	-39.17M	-64.9M	-143.72M	-136.08M	-158.49M	0
Operating Margin %	-0.43%	-0.47%	-0.5%	-1.1%	-0.55%	-0.93%	-1.1%	-1.1%	-1.41%	-
Operating Income Growth %	-0.6%	0.03%	0.01%	-0.5%	0.41%	-0.66%	-1.21%	0.05%	-0.16%	1%
EBITDA+	-41.4M	-36.42M	-35.98M	-54.58M	-19.79M	-45.03M	-122.45M	-110.71M	-122.3M	0
EBITDA Margin %	-0.38%	-0.38%	-0.4%	-0.9%	-0.28%	-0.65%	-0.94%	-0.9%	-1.09%	-
EBITDA Growth %	-0.67%	0.12%	0.01%	-0.52%	0.64%	-1.28%	-1.72%	0.1%	-0.1%	1%
D&A (Non-Cash Add-back)	4.95M	8.52M	8.65M	12.35M	19.38M	19.87M	21.27M	25.38M	36.19M	0
EBIT	-46.13M	-45.59M	-41.29M	-67.44M	-73.77M	-93.66M	-140.02M	-100.23M	-147.06M	0
Net Interest Income+	-4.96M	-9.17M	-9.05M	-10.62M	-15.29M	-7.33M	-3.01M	8.55M	4.03M	0
Interest Income	0	0	0	0	0	34K	3.39M	15.79M	13.72M	0
Interest Expense	4.96M	9.17M	9.05M	10.62M	15.29M	7.36M	6.39M	7.25M	9.69M	0
Other Income/Expense	-4.34M	-8.92M	-5.72M	-10.53M	-49.9M	-36.12M	-2.69M	28.61M	1.74M	0
Pretax Income+	-50.69M	-53.86M	-50.35M	-77.46M	-89.06M	-101.02M	-146.41M	-107.47M	-156.75M	-191.1M
Pretax Margin %	-0.47%	-0.56%	-0.56%	-1.28%	-1.26%	-1.45%	-1.12%	-0.87%	-1.4%	-
Income Tax+	519K	44K	-3.02M	109K	46K	2K	819K	581K	25K	0
Effective Tax Rate %	1.01%	1%	0.94%	1%	1%	1%	1.01%	1%	0.8%	1%
Net Income+	-50.96M	-53.9M	-47.33M	-77.57M	-89.11M	-101.03M	-147.23M	-107.57M	-126.01M	-191.1M
Net Margin %	-0.47%	-0.56%	-0.53%	-1.28%	-1.26%	-1.45%	-1.13%	-0.87%	-1.12%	-
Net Income Growth %	-0.74%	-0.06%	0.12%	-0.64%	-0.15%	-0.13%	-0.46%	0.27%	-0.17%	-0.52%
Net Income (Continuing)	-51.21M	-53.9M	-47.33M	-77.57M	-89.11M	-101.03M	-147.23M	-108.06M	-156.78M	0
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	3.03M	10.13M	17.95M	10.69M	9.11M
EPS (Diluted)+	-20.54	-12.96	-6.86	-1.41	-0.40	-0.30	-0.38	-0.26	-0.49	-7.42
EPS Growth %	-0.43%	0.37%	0.47%	0.79%	0.72%	0.25%	-0.27%	0.32%	-0.88%	-14.14%
EPS (Basic)	-21.84	-13.73	-9.01	-1.82	-0.42	-0.31	-0.39	-0.26	-0.53	-7.42
Diluted Shares Outstanding	2.48M	4.16M	6.9M	55.08M	221.96M	334.74M	383.14M	419.75M	261.84M	25.74M
Basic Shares Outstanding	2.33M	3.93M	5.25M	42.62M	212.16M	324.47M	374.74M	407.62M	243.54M	25.74M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Oct 2016	Oct 2017	Oct 2018	Oct 2019	Oct 2020	Oct 2021	Oct 2022	Oct 2023	Oct 2024	Oct 2025
Total Current Assets+	202.47M	203.51M	130.3M	84.32M	233.98M	543.39M	580.28M	476.31M	444.46M	449.81M
Cash & Short-Term Investments	84.19M	49.29M	39.29M	9.43M	149.87M	432.21M	458.06M	353.71M	257.26M	294.7M
Cash Only	84.19M	49.29M	39.29M	9.43M	149.87M	432.21M	458.06M	249.95M	148.13M	294.7M
Short-Term Investments	0	0	0	0	0	0	0	103.76M	109.12M	0
Accounts Receivable	24.59M	68.52M	23.04M	10.98M	17.6M	23.65M	15.9M	20.11M	48.6M	53.01M
Days Sales Outstanding	82.92	261.43	94.02	65.94	90.66	124.07	44.49	59.47	158.2	-
Inventory	73.81M	74.5M	53.58M	54.52M	50.97M	67.07M	90.91M	84.46M	113.7M	86.2M
Days Inventory Outstanding	248.04	292.59	226.48	242.6	236.71	287.27	207.31	230.17	280.32	-
Other Current Assets	11.84M	4.76M	5.9M	3.47M	9.23M	20.45M	10.99M	18.04M	24.9M	15.91M
Total Non-Current Assets+	139.67M	180.28M	210.12M	249.13M	289.56M	331.86M	359.44M	479.21M	499.67M	482.34M
Property, Plant & Equipment	36.64M	43.56M	48.2M	41.13M	46.43M	47.52M	65.33M	98.02M	138.81M	107.67M
Fixed Asset Turnover	2.95x	2.20x	1.86x	1.48x	1.53x	1.46x	2.00x	1.26x	0.81x	-
Goodwill	4.08M	4.08M	4.08M	4.08M	4.08M	4.08M	4.08M	4.08M	4.08M	0
Intangible Assets	9.59M	9.59M	9.59M	21.26M	19.97M	18.67M	17.37M	16.08M	14.78M	3.89M
Long-Term Investments	38.76M	46.33M	44.53M	30.46M	41.81M	28.31M	28.27M	0	0	0
Other Non-Current Assets	89.36M	123.04M	148.25M	182.65M	219.09M	261.59M	272.66M	361.04M	342M	370.78M
Total Assets+	342.14M	383.79M	340.42M	333.45M	523.54M	875.25M	939.72M	955.52M	944.12M	932.15M
Asset Turnover	0.32x	0.25x	0.26x	0.18x	0.14x	0.08x	0.14x	0.13x	0.12x	-
Asset Growth %	0.23%	0.12%	-0.11%	-0.02%	0.57%	0.67%	0.07%	0.02%	-0.01%	-0.01%
Total Current Liabilities+	52.26M	98.08M	60.12M	62.73M	58.9M	52.77M	85.8M	65.9M	73.9M	67.84M
Accounts Payable	18.48M	42.62M	22.59M	16.94M	9.58M	19.27M	28.2M	26.52M	22.59M	17.01M
Days Payables Outstanding	62.09	167.38	95.51	75.4	44.47	82.52	64.3	72.27	55.68	-
Short-Term Debt	5.28M	28.28M	17.6M	21.92M	22.3M	11.12M	13.85M	10.67M	15.92M	16.78M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	17.25M	836K	952K	950K	11.22M	12.52M	36.46M	17.95M	7.75M	48.33M
Current Ratio	3.87x	2.07x	2.17x	1.34x	3.97x	10.30x	6.76x	7.23x	6.01x	6.63x
Quick Ratio	2.46x	1.32x	1.28x	0.48x	3.11x	9.03x	5.70x	5.95x	4.48x	5.36x
Cash Conversion Cycle	268.87	386.64	224.99	233.14	282.9	328.82	187.5	217.37	382.84	-
Total Non-Current Liabilities+	115.62M	96.89M	103.38M	135.12M	210.23M	117.15M	99.53M	129.31M	142.75M	133.17M
Long-Term Debt	94.65M	77.98M	86.58M	106.42M	150.65M	77.58M	69.17M	119.59M	115.74M	11.95M
Capital Lease Obligations	0	0	0	0	9.82M	8.09M	7.58M	9M	8.89M	0
Deferred Tax Liabilities	-72.41M	-3.81M	-36.88M	0	0	0	0	0	0	0
Other Non-Current Liabilities	0	0	0	0	18.27M	1.06M	13.69M	-4K	15.11M	121.21M
Total Liabilities	167.88M	194.97M	163.5M	197.85M	269.13M	169.92M	185.33M	195.22M	216.66M	201M
Total Debt+	87.27M	92.04M	89.22M	112.06M	183.71M	97.84M	104.29M	139.25M	141.36M	28.73M
Net Debt	3.09M	42.75M	49.92M	102.62M	33.84M	-334.37M	-353.77M	-110.71M	-6.77M	-265.97M
Debt / Equity	0.50x	0.49x	0.50x	0.83x	0.72x	0.14x	0.14x	0.18x	0.19x	0.04x
Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Net Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Interest Coverage	-9.35x	-4.90x	-4.93x	-6.30x	-2.56x	-8.81x	-22.48x	-18.78x	-16.36x	-
Total Equity+	174.25M	188.81M	176.92M	135.59M	254.41M	705.33M	754.38M	760.3M	727.47M	671.28M
Equity Growth %	0.13%	0.08%	-0.06%	-0.23%	0.88%	1.77%	0.07%	0.01%	-0.04%	-0.08%
Book Value per Share	70.23	45.39	25.66	2.46	1.15	2.11	1.97	1.81	2.78	26.08
Total Shareholders' Equity	174.25M	188.81M	176.92M	135.59M	254.41M	702.29M	744.25M	742.35M	716.78M	662.18M
Common Stock	4K	7K	10K	19K	29K	37K	41K	2K	2K	5K
Retained Earnings	-889.63M	-943.53M	-990.87M	-1.08B	-1.16B	-1.27B	-1.41B	-1.52B	-1.64B	-1.83B
Treasury Stock	-179K	-280K	-363K	-466K	-432K	-586K	-855K	-1.08M	-1.2M	0
Accumulated OCI	-544K	-415K	-403K	-647K	-739K	-819K	-1.75M	-1.67M	-363K	-1.7M
Minority Interest	0	0	0	0	0	3.03M	10.13M	17.95M	10.69M	9.11M

Cash Flow

	Oct 2016	Oct 2017	Oct 2018	Oct 2019	Oct 2020	Oct 2021	Oct 2022	Oct 2023	Oct 2024	Oct 2025
Cash from Operations+	-46.59M	-71.84M	16.32M	-30.57M	-36.78M	-70.44M	-112.17M	-140.25M	-152.91M	-125.29M
Operating CF Margin %	-0.43%	-0.75%	0.18%	-0.5%	-0.52%	-1.01%	-0.86%	-1.14%	-1.36%	-
Operating CF Growth %	-0.05%	-0.54%	1.23%	-2.87%	-0.2%	-0.92%	-0.59%	-0.25%	-0.09%	0.18%
Net Income	-51.21M	-53.9M	-47.33M	-77.57M	-89.11M	-101.03M	-147.23M	-108.06M	-126.01M	-191.1M
Depreciation & Amortization	4.95M	8.52M	8.65M	12.35M	19.38M	19.87M	21.27M	25.38M	36.19M	0
Stock-Based Compensation	3.42M	4.58M	3.24M	2.8M	1.87M	4.29M	6.79M	11.95M	11.76M	0
Deferred Taxes	-338K	672K	-3.04M	20.78M	38.02M	31.68M	0	0	0	0
Other Non-Cash Items	3.66M	6.42M	6.55M	6.81M	8.2M	6.69M	8.51M	-16.52M	-17.01M	65.81M
Working Capital Changes	-7.08M	-38.14M	48.25M	4.25M	-15.14M	-31.94M	-1.51M	-53.01M	-57.85M	0
Change in Receivables	30.23M	-51.28M	48.73M	4.84M	-6.27M	-5.17M	9.2M	1.08M	-30.98M	0
Change in Inventory	-8.05M	-7.97M	31.71M	-6.43M	-2.11M	-18.75M	-28.06M	4.69M	-29.25M	0
Change in Payables	-3.02M	25.02M	-19.85M	-173K	-7.06M	1.99M	6.33M	3M	-999K	0
Cash from Investing+	-41.45M	-31.44M	-51.26M	-69.3M	-32.52M	-73.23M	-46.65M	-192.37M	-60.05M	88.86M
Capital Expenditures	-7.73M	-12.35M	-10.03M	-33.83M	-31.91M	-73.23M	-46.65M	-92.36M	-59.55M	0
CapEx % of Revenue	0.07%	0.13%	0.11%	0.56%	0.45%	1.05%	0.36%	0.75%	0.53%	-
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-33.73M	-19.73M	-41.23M	-35.47M	-611K	-66.88M	-46.65M	0	0	88.86M
Cash from Financing+	120.66M	72.29M	27.72M	59.66M	221.67M	411.91M	180.58M	151.07M	122.15M	169.26M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-4.17M	-4.16M	-4.18M	-1.84M	-6.47M	-3.2M	-3.2M	-3.2M	-3.2M	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-1.76M	-206K	-352K	-3.3M	-2.69M	-1.32M	183.29M	4.16M	21.39M	169.26M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-54.32M	-84.2M	6.29M	-64.4M	-68.69M	-143.67M	-158.82M	-232.61M	-200.63M	-125.29M
FCF Margin %	-0.5%	-0.88%	0.07%	-1.06%	-0.97%	-2.06%	-1.22%	-1.89%	-1.79%	-
FCF Growth %	-0.06%	-0.55%	1.07%	-11.23%	-0.07%	-1.09%	-0.11%	-0.46%	0.14%	0.38%
FCF per Share	-21.89	-20.24	0.91	-1.17	-0.31	-0.43	-0.41	-0.55	-0.77	-4.87
FCF Conversion (FCF/Net Income)	0.91x	1.33x	-0.34x	0.39x	0.41x	0.70x	0.76x	1.30x	1.21x	0.66x
Interest Paid	0	0	0	0	0	0	0	0	6.8M	0
Taxes Paid	0	0	0	0	0	0	0	0	16K	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	-30.99%	-29.69%	-25.88%	-49.64%	-45.7%	-21.05%	-20.17%	-14.2%	-16.94%	-27.32%
Return on Invested Capital (ROIC)	-23.69%	-16.48%	-14.6%	-21.59%	-11.16%	-14.77%	-27.94%	-19.44%	-17.35%	-
Gross Margin	-0.33%	2.86%	3.46%	-35.01%	-10.9%	-22.47%	-22.67%	-8.54%	-32.03%	-
Net Margin	-47.07%	-56.34%	-52.92%	-127.68%	-125.73%	-145.18%	-112.84%	-87.17%	-112.38%	-
Debt / Equity	0.50x	0.49x	0.50x	0.83x	0.72x	0.14x	0.14x	0.18x	0.19x	0.04x
Interest Coverage	-9.35x	-4.90x	-4.93x	-6.30x	-2.56x	-8.81x	-22.48x	-18.78x	-16.36x	-
FCF Conversion	0.91x	1.33x	-0.34x	0.39x	0.41x	0.70x	0.76x	1.30x	1.21x	0.66x
Revenue Growth	-33.62%	-11.63%	-6.51%	-32.07%	16.66%	-1.81%	87.52%	-5.43%	-9.13%	-100%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Electricity, Generation	-	-	-	-	-	-	-	-	-	172.4M
Electricity, Generation Growth	-	-	-	-	-	-	-	-	-	-
Product	-	-	-	-	481K	-	-	60M	19.59M	111.3M
Product Growth	-	-	-	-	-	-	-	-	-67.35%	468.18%
Advanced Technologies	-	-	-	14.02M	19.62M	25.8M	25.77M	21.51M	17.21M	26.51M
Advanced Technologies Growth	-	-	-	-	39.95%	31.48%	-0.11%	-16.51%	-19.98%	54.03%
Service	-	-	-	-	-	-	-	-	-	9.97M
Service Growth	-	-	-	-	-	-	-	-	-	-
Service and License	-	-	-	-	-	-	19.79M	12.79M	140.8M	-
Service and License Growth	-	-	-	-	-	-	-	-35.39%	1001.20%	-
Generation	-	-	-	-	-	-	24.03M	36.19M	63.9M	-
Generation Growth	-	-	-	-	-	-	-	50.61%	76.59%	-
License And Service	-	-	-	-	26.62M	25.13M	-	-	-	-
License And Service Growth	-	-	-	-	-	-5.58%	-	-	-	-
Electricity Generation	-	-	-	7.17M	14.03M	19.94M	-	-	-	-
Electricity Generation Growth	-	-	-	-	95.70%	42.10%	-	-	-	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
UNITED STATES	52.11M	48.7M	47.54M	50.95M	56.21M	67.75M	58.39M	60.29M	63.29M	86.96M
UNITED STATES Growth	-	-6.55%	-2.38%	7.18%	10.32%	20.53%	-13.81%	3.25%	4.97%	37.40%
KOREA, REPUBLIC OF	-	-	44.22M	36.28M	2.69M	2.06M	-	-	-	22.84M
KOREA, REPUBLIC OF Growth	-	-	-	-17.95%	-92.60%	-23.34%	-	-	-	-
Europe	-	-	-	-	-	-	-	-	1.67M	1.92M
Europe Growth	-	-	-	-	-	-	-	-	-	14.70%
CANADA	-	124K	729K	23K	-	-	-	-	-	415K
CANADA Growth	-	-	487.90%	-96.84%	-	-	-	-	-	-
SOUTH KOREA	-	-	-	-	-	-	8.16M	68.34M	58.43M	-
SOUTH KOREA Growth	-	-	-	-	-	-	-	737.41%	-14.50%	-
GERMANY	764K	7.15M	2.74M	1.79M	359K	414K	2.66M	1.11M	-	-
GERMANY Growth	-	835.47%	-61.66%	-34.49%	-80.00%	15.32%	542.03%	-58.13%	-	-
ENGLAND	-	-	-	-	-	-	143K	740K	-	-
ENGLAND Growth	-	-	-	-	-	-	-	417.48%	-	-
SWITZERLAND	-	-	-	-	-	623K	230K	-	-	-
SWITZERLAND Growth	-	-	-	-	-	-	-63.08%	-	-	-
SPAIN	109K	-	73K	-	-	-	-	-	-	-
SPAIN Growth	-	-	-	-	-	-	-	-	-	-
south korea	109.95M	52.01M	-	-	-	-	-	-	-	-
south korea Growth	-	-52.70%	-	-	-	-	-	-	-	-

Frequently Asked Questions

Growth & Financials

FuelCell Energy, Inc. (FCEL) reported $152.5M in revenue for fiscal year 2025. This represents a 26% increase from $120.6M in 2012.

FuelCell Energy, Inc. (FCEL) saw revenue decline by 100.0% over the past year.

FuelCell Energy, Inc. (FCEL) reported a net loss of $200.2M for fiscal year 2025.

Dividend & Returns

FuelCell Energy, Inc. (FCEL) has a return on equity (ROE) of -27.3%. Negative ROE indicates the company is unprofitable.

FuelCell Energy, Inc. (FCEL) had negative free cash flow of $124.8M in fiscal year 2025, likely due to heavy capital investments.

US Stock Screener

...

FuelCell Energy, Inc. (FCEL) 10-Year Financial Performance & Capital Metrics

FCEL • • Industrial / General

IndustrialsElectrical EquipmentEnergy Storage SystemsFuel Cell Systems

Revenue $0 -100.0%
EBITDA $0 +100.0%
Net Income -$191M -51.7%
EPS (Diluted) -7.42 -1414.3%
Gross Margin -
EBITDA Margin -
Operating Margin -
Net Margin -
ROE -27.32% -61.3%
ROIC -
Debt/Equity 0.04 -78.0%
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓Momentum leader: RS Rating 84 (top 16%)
✓Share count reduced 90.2% through buybacks
✓Trading at only 0.3x book value

✗Weaknesses

✗Trading more than 30% below 52-week high
✗Low asset turnover indicates capital-intensive operations

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y-

5Y-

3Y-

TTM78.81%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-74.19%

EPS CAGR

10Y-

5Y-

3Y-

TTM-2793.57%

ROCE

10Y Avg-16.22%

5Y Avg-15.21%

3Y Avg-16.81%

Latest-

Peer Comparison

Fuel Cell Systems

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
PLUGPlug Power Inc.	3.15B	2.26	-0.92	-29.45%	-313.69%	-141.53%		0.60
FCELFuelCell Energy, Inc.	355.64M	7.45	-1.00	-100%	-131.33%	-32.04%		0.04
BEBloom Energy Corporation	32.92B	139.17	-1070.54	10.53%	0.84%	2.25%	0.1%	2.61

Profit & Loss

	Oct 2016	Oct 2017	Oct 2018	Oct 2019	Oct 2020	Oct 2021	Oct 2022	Oct 2023	Oct 2024	Oct 2025
Sales/Revenue+	108.25M	95.67M	89.44M	60.75M	70.87M	69.58M	130.48M	123.39M	112.13M	0
Revenue Growth %	-0.34%	-0.12%	-0.07%	-0.32%	0.17%	-0.02%	0.88%	-0.05%	-0.09%	-1%
Cost of Goods Sold+	108.61M	92.93M	86.34M	82.02M	78.6M	85.22M	160.06M	133.93M	148.05M	0
COGS % of Revenue	1%	0.97%	0.97%	1.35%	1.11%	1.22%	1.23%	1.09%	1.32%	-
Gross Profit+	-357K	2.73M	3.09M	-21.27M	-7.72M	-15.64M	-29.57M	-10.54M	-35.92M	0
Gross Margin %	-0%	0.03%	0.03%	-0.35%	-0.11%	-0.22%	-0.23%	-0.09%	-0.32%	-
Gross Profit Growth %	-1.03%	8.66%	0.13%	-7.88%	0.64%	-1.02%	-0.89%	0.64%	-2.41%	1%
Operating Expenses+	46M	46.31M	47.73M	45.66M	31.44M	49.26M	114.15M	125.55M	123.83M	0
OpEx % of Revenue	0.42%	0.48%	0.53%	0.75%	0.44%	0.71%	0.87%	1.02%	1.1%	-
Selling, General & Admin	25.15M	25.92M	24.91M	31.87M	26.64M	37.95M	79.62M	64.53M	64.6M	0
SG&A % of Revenue	0.23%	0.27%	0.28%	0.52%	0.38%	0.55%	0.61%	0.52%	0.58%	-
Research & Development	20.85M	20.4M	22.82M	13.79M	4.8M	11.31M	34.53M	61.02M	55.4M	0
R&D % of Revenue	0.19%	0.21%	0.26%	0.23%	0.07%	0.16%	0.26%	0.49%	0.49%	-
Other Operating Expenses	0	247K	0	93K	0	0	0	0	3.83M	0
Operating Income+	-46.35M	-44.94M	-44.63M	-66.93M	-39.17M	-64.9M	-143.72M	-136.08M	-158.49M	0
Operating Margin %	-0.43%	-0.47%	-0.5%	-1.1%	-0.55%	-0.93%	-1.1%	-1.1%	-1.41%	-
Operating Income Growth %	-0.6%	0.03%	0.01%	-0.5%	0.41%	-0.66%	-1.21%	0.05%	-0.16%	1%
EBITDA+	-41.4M	-36.42M	-35.98M	-54.58M	-19.79M	-45.03M	-122.45M	-110.71M	-122.3M	0
EBITDA Margin %	-0.38%	-0.38%	-0.4%	-0.9%	-0.28%	-0.65%	-0.94%	-0.9%	-1.09%	-
EBITDA Growth %	-0.67%	0.12%	0.01%	-0.52%	0.64%	-1.28%	-1.72%	0.1%	-0.1%	1%
D&A (Non-Cash Add-back)	4.95M	8.52M	8.65M	12.35M	19.38M	19.87M	21.27M	25.38M	36.19M	0
EBIT	-46.13M	-45.59M	-41.29M	-67.44M	-73.77M	-93.66M	-140.02M	-100.23M	-147.06M	0
Net Interest Income+	-4.96M	-9.17M	-9.05M	-10.62M	-15.29M	-7.33M	-3.01M	8.55M	4.03M	0
Interest Income	0	0	0	0	0	34K	3.39M	15.79M	13.72M	0
Interest Expense	4.96M	9.17M	9.05M	10.62M	15.29M	7.36M	6.39M	7.25M	9.69M	0
Other Income/Expense	-4.34M	-8.92M	-5.72M	-10.53M	-49.9M	-36.12M	-2.69M	28.61M	1.74M	0
Pretax Income+	-50.69M	-53.86M	-50.35M	-77.46M	-89.06M	-101.02M	-146.41M	-107.47M	-156.75M	-191.1M
Pretax Margin %	-0.47%	-0.56%	-0.56%	-1.28%	-1.26%	-1.45%	-1.12%	-0.87%	-1.4%	-
Income Tax+	519K	44K	-3.02M	109K	46K	2K	819K	581K	25K	0
Effective Tax Rate %	1.01%	1%	0.94%	1%	1%	1%	1.01%	1%	0.8%	1%
Net Income+	-50.96M	-53.9M	-47.33M	-77.57M	-89.11M	-101.03M	-147.23M	-107.57M	-126.01M	-191.1M
Net Margin %	-0.47%	-0.56%	-0.53%	-1.28%	-1.26%	-1.45%	-1.13%	-0.87%	-1.12%	-
Net Income Growth %	-0.74%	-0.06%	0.12%	-0.64%	-0.15%	-0.13%	-0.46%	0.27%	-0.17%	-0.52%
Net Income (Continuing)	-51.21M	-53.9M	-47.33M	-77.57M	-89.11M	-101.03M	-147.23M	-108.06M	-156.78M	0
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	3.03M	10.13M	17.95M	10.69M	9.11M
EPS (Diluted)+	-20.54	-12.96	-6.86	-1.41	-0.40	-0.30	-0.38	-0.26	-0.49	-7.42
EPS Growth %	-0.43%	0.37%	0.47%	0.79%	0.72%	0.25%	-0.27%	0.32%	-0.88%	-14.14%
EPS (Basic)	-21.84	-13.73	-9.01	-1.82	-0.42	-0.31	-0.39	-0.26	-0.53	-7.42
Diluted Shares Outstanding	2.48M	4.16M	6.9M	55.08M	221.96M	334.74M	383.14M	419.75M	261.84M	25.74M
Basic Shares Outstanding	2.33M	3.93M	5.25M	42.62M	212.16M	324.47M	374.74M	407.62M	243.54M	25.74M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Oct 2016	Oct 2017	Oct 2018	Oct 2019	Oct 2020	Oct 2021	Oct 2022	Oct 2023	Oct 2024	Oct 2025
Total Current Assets+	202.47M	203.51M	130.3M	84.32M	233.98M	543.39M	580.28M	476.31M	444.46M	449.81M
Cash & Short-Term Investments	84.19M	49.29M	39.29M	9.43M	149.87M	432.21M	458.06M	353.71M	257.26M	294.7M
Cash Only	84.19M	49.29M	39.29M	9.43M	149.87M	432.21M	458.06M	249.95M	148.13M	294.7M
Short-Term Investments	0	0	0	0	0	0	0	103.76M	109.12M	0
Accounts Receivable	24.59M	68.52M	23.04M	10.98M	17.6M	23.65M	15.9M	20.11M	48.6M	53.01M
Days Sales Outstanding	82.92	261.43	94.02	65.94	90.66	124.07	44.49	59.47	158.2	-
Inventory	73.81M	74.5M	53.58M	54.52M	50.97M	67.07M	90.91M	84.46M	113.7M	86.2M
Days Inventory Outstanding	248.04	292.59	226.48	242.6	236.71	287.27	207.31	230.17	280.32	-
Other Current Assets	11.84M	4.76M	5.9M	3.47M	9.23M	20.45M	10.99M	18.04M	24.9M	15.91M
Total Non-Current Assets+	139.67M	180.28M	210.12M	249.13M	289.56M	331.86M	359.44M	479.21M	499.67M	482.34M
Property, Plant & Equipment	36.64M	43.56M	48.2M	41.13M	46.43M	47.52M	65.33M	98.02M	138.81M	107.67M
Fixed Asset Turnover	2.95x	2.20x	1.86x	1.48x	1.53x	1.46x	2.00x	1.26x	0.81x	-
Goodwill	4.08M	4.08M	4.08M	4.08M	4.08M	4.08M	4.08M	4.08M	4.08M	0
Intangible Assets	9.59M	9.59M	9.59M	21.26M	19.97M	18.67M	17.37M	16.08M	14.78M	3.89M
Long-Term Investments	38.76M	46.33M	44.53M	30.46M	41.81M	28.31M	28.27M	0	0	0
Other Non-Current Assets	89.36M	123.04M	148.25M	182.65M	219.09M	261.59M	272.66M	361.04M	342M	370.78M
Total Assets+	342.14M	383.79M	340.42M	333.45M	523.54M	875.25M	939.72M	955.52M	944.12M	932.15M
Asset Turnover	0.32x	0.25x	0.26x	0.18x	0.14x	0.08x	0.14x	0.13x	0.12x	-
Asset Growth %	0.23%	0.12%	-0.11%	-0.02%	0.57%	0.67%	0.07%	0.02%	-0.01%	-0.01%
Total Current Liabilities+	52.26M	98.08M	60.12M	62.73M	58.9M	52.77M	85.8M	65.9M	73.9M	67.84M
Accounts Payable	18.48M	42.62M	22.59M	16.94M	9.58M	19.27M	28.2M	26.52M	22.59M	17.01M
Days Payables Outstanding	62.09	167.38	95.51	75.4	44.47	82.52	64.3	72.27	55.68	-
Short-Term Debt	5.28M	28.28M	17.6M	21.92M	22.3M	11.12M	13.85M	10.67M	15.92M	16.78M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	17.25M	836K	952K	950K	11.22M	12.52M	36.46M	17.95M	7.75M	48.33M
Current Ratio	3.87x	2.07x	2.17x	1.34x	3.97x	10.30x	6.76x	7.23x	6.01x	6.63x
Quick Ratio	2.46x	1.32x	1.28x	0.48x	3.11x	9.03x	5.70x	5.95x	4.48x	5.36x
Cash Conversion Cycle	268.87	386.64	224.99	233.14	282.9	328.82	187.5	217.37	382.84	-
Total Non-Current Liabilities+	115.62M	96.89M	103.38M	135.12M	210.23M	117.15M	99.53M	129.31M	142.75M	133.17M
Long-Term Debt	94.65M	77.98M	86.58M	106.42M	150.65M	77.58M	69.17M	119.59M	115.74M	11.95M
Capital Lease Obligations	0	0	0	0	9.82M	8.09M	7.58M	9M	8.89M	0
Deferred Tax Liabilities	-72.41M	-3.81M	-36.88M	0	0	0	0	0	0	0
Other Non-Current Liabilities	0	0	0	0	18.27M	1.06M	13.69M	-4K	15.11M	121.21M
Total Liabilities	167.88M	194.97M	163.5M	197.85M	269.13M	169.92M	185.33M	195.22M	216.66M	201M
Total Debt+	87.27M	92.04M	89.22M	112.06M	183.71M	97.84M	104.29M	139.25M	141.36M	28.73M
Net Debt	3.09M	42.75M	49.92M	102.62M	33.84M	-334.37M	-353.77M	-110.71M	-6.77M	-265.97M
Debt / Equity	0.50x	0.49x	0.50x	0.83x	0.72x	0.14x	0.14x	0.18x	0.19x	0.04x
Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Net Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Interest Coverage	-9.35x	-4.90x	-4.93x	-6.30x	-2.56x	-8.81x	-22.48x	-18.78x	-16.36x	-
Total Equity+	174.25M	188.81M	176.92M	135.59M	254.41M	705.33M	754.38M	760.3M	727.47M	671.28M
Equity Growth %	0.13%	0.08%	-0.06%	-0.23%	0.88%	1.77%	0.07%	0.01%	-0.04%	-0.08%
Book Value per Share	70.23	45.39	25.66	2.46	1.15	2.11	1.97	1.81	2.78	26.08
Total Shareholders' Equity	174.25M	188.81M	176.92M	135.59M	254.41M	702.29M	744.25M	742.35M	716.78M	662.18M
Common Stock	4K	7K	10K	19K	29K	37K	41K	2K	2K	5K
Retained Earnings	-889.63M	-943.53M	-990.87M	-1.08B	-1.16B	-1.27B	-1.41B	-1.52B	-1.64B	-1.83B
Treasury Stock	-179K	-280K	-363K	-466K	-432K	-586K	-855K	-1.08M	-1.2M	0
Accumulated OCI	-544K	-415K	-403K	-647K	-739K	-819K	-1.75M	-1.67M	-363K	-1.7M
Minority Interest	0	0	0	0	0	3.03M	10.13M	17.95M	10.69M	9.11M

Cash Flow

	Oct 2016	Oct 2017	Oct 2018	Oct 2019	Oct 2020	Oct 2021	Oct 2022	Oct 2023	Oct 2024	Oct 2025
Cash from Operations+	-46.59M	-71.84M	16.32M	-30.57M	-36.78M	-70.44M	-112.17M	-140.25M	-152.91M	-125.29M
Operating CF Margin %	-0.43%	-0.75%	0.18%	-0.5%	-0.52%	-1.01%	-0.86%	-1.14%	-1.36%	-
Operating CF Growth %	-0.05%	-0.54%	1.23%	-2.87%	-0.2%	-0.92%	-0.59%	-0.25%	-0.09%	0.18%
Net Income	-51.21M	-53.9M	-47.33M	-77.57M	-89.11M	-101.03M	-147.23M	-108.06M	-126.01M	-191.1M
Depreciation & Amortization	4.95M	8.52M	8.65M	12.35M	19.38M	19.87M	21.27M	25.38M	36.19M	0
Stock-Based Compensation	3.42M	4.58M	3.24M	2.8M	1.87M	4.29M	6.79M	11.95M	11.76M	0
Deferred Taxes	-338K	672K	-3.04M	20.78M	38.02M	31.68M	0	0	0	0
Other Non-Cash Items	3.66M	6.42M	6.55M	6.81M	8.2M	6.69M	8.51M	-16.52M	-17.01M	65.81M
Working Capital Changes	-7.08M	-38.14M	48.25M	4.25M	-15.14M	-31.94M	-1.51M	-53.01M	-57.85M	0
Change in Receivables	30.23M	-51.28M	48.73M	4.84M	-6.27M	-5.17M	9.2M	1.08M	-30.98M	0
Change in Inventory	-8.05M	-7.97M	31.71M	-6.43M	-2.11M	-18.75M	-28.06M	4.69M	-29.25M	0
Change in Payables	-3.02M	25.02M	-19.85M	-173K	-7.06M	1.99M	6.33M	3M	-999K	0
Cash from Investing+	-41.45M	-31.44M	-51.26M	-69.3M	-32.52M	-73.23M	-46.65M	-192.37M	-60.05M	88.86M
Capital Expenditures	-7.73M	-12.35M	-10.03M	-33.83M	-31.91M	-73.23M	-46.65M	-92.36M	-59.55M	0
CapEx % of Revenue	0.07%	0.13%	0.11%	0.56%	0.45%	1.05%	0.36%	0.75%	0.53%	-
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-33.73M	-19.73M	-41.23M	-35.47M	-611K	-66.88M	-46.65M	0	0	88.86M
Cash from Financing+	120.66M	72.29M	27.72M	59.66M	221.67M	411.91M	180.58M	151.07M	122.15M	169.26M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-4.17M	-4.16M	-4.18M	-1.84M	-6.47M	-3.2M	-3.2M	-3.2M	-3.2M	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-1.76M	-206K	-352K	-3.3M	-2.69M	-1.32M	183.29M	4.16M	21.39M	169.26M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-54.32M	-84.2M	6.29M	-64.4M	-68.69M	-143.67M	-158.82M	-232.61M	-200.63M	-125.29M
FCF Margin %	-0.5%	-0.88%	0.07%	-1.06%	-0.97%	-2.06%	-1.22%	-1.89%	-1.79%	-
FCF Growth %	-0.06%	-0.55%	1.07%	-11.23%	-0.07%	-1.09%	-0.11%	-0.46%	0.14%	0.38%
FCF per Share	-21.89	-20.24	0.91	-1.17	-0.31	-0.43	-0.41	-0.55	-0.77	-4.87
FCF Conversion (FCF/Net Income)	0.91x	1.33x	-0.34x	0.39x	0.41x	0.70x	0.76x	1.30x	1.21x	0.66x
Interest Paid	0	0	0	0	0	0	0	0	6.8M	0
Taxes Paid	0	0	0	0	0	0	0	0	16K	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	-30.99%	-29.69%	-25.88%	-49.64%	-45.7%	-21.05%	-20.17%	-14.2%	-16.94%	-27.32%
Return on Invested Capital (ROIC)	-23.69%	-16.48%	-14.6%	-21.59%	-11.16%	-14.77%	-27.94%	-19.44%	-17.35%	-
Gross Margin	-0.33%	2.86%	3.46%	-35.01%	-10.9%	-22.47%	-22.67%	-8.54%	-32.03%	-
Net Margin	-47.07%	-56.34%	-52.92%	-127.68%	-125.73%	-145.18%	-112.84%	-87.17%	-112.38%	-
Debt / Equity	0.50x	0.49x	0.50x	0.83x	0.72x	0.14x	0.14x	0.18x	0.19x	0.04x
Interest Coverage	-9.35x	-4.90x	-4.93x	-6.30x	-2.56x	-8.81x	-22.48x	-18.78x	-16.36x	-
FCF Conversion	0.91x	1.33x	-0.34x	0.39x	0.41x	0.70x	0.76x	1.30x	1.21x	0.66x
Revenue Growth	-33.62%	-11.63%	-6.51%	-32.07%	16.66%	-1.81%	87.52%	-5.43%	-9.13%	-100%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Electricity, Generation	-	-	-	-	-	-	-	-	-	172.4M
Electricity, Generation Growth	-	-	-	-	-	-	-	-	-	-
Product	-	-	-	-	481K	-	-	60M	19.59M	111.3M
Product Growth	-	-	-	-	-	-	-	-	-67.35%	468.18%
Advanced Technologies	-	-	-	14.02M	19.62M	25.8M	25.77M	21.51M	17.21M	26.51M
Advanced Technologies Growth	-	-	-	-	39.95%	31.48%	-0.11%	-16.51%	-19.98%	54.03%
Service	-	-	-	-	-	-	-	-	-	9.97M
Service Growth	-	-	-	-	-	-	-	-	-	-
Service and License	-	-	-	-	-	-	19.79M	12.79M	140.8M	-
Service and License Growth	-	-	-	-	-	-	-	-35.39%	1001.20%	-
Generation	-	-	-	-	-	-	24.03M	36.19M	63.9M	-
Generation Growth	-	-	-	-	-	-	-	50.61%	76.59%	-
License And Service	-	-	-	-	26.62M	25.13M	-	-	-	-
License And Service Growth	-	-	-	-	-	-5.58%	-	-	-	-
Electricity Generation	-	-	-	7.17M	14.03M	19.94M	-	-	-	-
Electricity Generation Growth	-	-	-	-	95.70%	42.10%	-	-	-	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
UNITED STATES	52.11M	48.7M	47.54M	50.95M	56.21M	67.75M	58.39M	60.29M	63.29M	86.96M
UNITED STATES Growth	-	-6.55%	-2.38%	7.18%	10.32%	20.53%	-13.81%	3.25%	4.97%	37.40%
KOREA, REPUBLIC OF	-	-	44.22M	36.28M	2.69M	2.06M	-	-	-	22.84M
KOREA, REPUBLIC OF Growth	-	-	-	-17.95%	-92.60%	-23.34%	-	-	-	-
Europe	-	-	-	-	-	-	-	-	1.67M	1.92M
Europe Growth	-	-	-	-	-	-	-	-	-	14.70%
CANADA	-	124K	729K	23K	-	-	-	-	-	415K
CANADA Growth	-	-	487.90%	-96.84%	-	-	-	-	-	-
SOUTH KOREA	-	-	-	-	-	-	8.16M	68.34M	58.43M	-
SOUTH KOREA Growth	-	-	-	-	-	-	-	737.41%	-14.50%	-
GERMANY	764K	7.15M	2.74M	1.79M	359K	414K	2.66M	1.11M	-	-
GERMANY Growth	-	835.47%	-61.66%	-34.49%	-80.00%	15.32%	542.03%	-58.13%	-	-
ENGLAND	-	-	-	-	-	-	143K	740K	-	-
ENGLAND Growth	-	-	-	-	-	-	-	417.48%	-	-
SWITZERLAND	-	-	-	-	-	623K	230K	-	-	-
SWITZERLAND Growth	-	-	-	-	-	-	-63.08%	-	-	-
SPAIN	109K	-	73K	-	-	-	-	-	-	-
SPAIN Growth	-	-	-	-	-	-	-	-	-	-
south korea	109.95M	52.01M	-	-	-	-	-	-	-	-
south korea Growth	-	-52.70%	-	-	-	-	-	-	-	-

Frequently Asked Questions

Growth & Financials

FuelCell Energy, Inc. (FCEL) reported $152.5M in revenue for fiscal year 2025. This represents a 26% increase from $120.6M in 2012.

FuelCell Energy, Inc. (FCEL) saw revenue decline by 100.0% over the past year.

FuelCell Energy, Inc. (FCEL) reported a net loss of $200.2M for fiscal year 2025.

Dividend & Returns

FuelCell Energy, Inc. (FCEL) has a return on equity (ROE) of -27.3%. Negative ROE indicates the company is unprofitable.

FuelCell Energy, Inc. (FCEL) had negative free cash flow of $124.8M in fiscal year 2025, likely due to heavy capital investments.