Last 47 quarters of trend data · Industrials · Electrical Equipment & Parts
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | -1.66 | — | — | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | |
| P/S Ratio | 4.08 | 3.23 | 1.47 | 0.65 | 0.60 | 2.07 | 13.70 | 80.64 | 140.57 | 243.53 | 163.98 | 267.76 | 149.39 |
| — | +56.0% | -89.3% | -99.2% | -99.6% | -99.1% | -91.6% | -69.9% | -5.9% | -19.0% | -32.2% | +10.6% | -78.5% | |
| P/B Ratio | 0.43 | 0.56 | 0.44 | 0.19 | 0.13 | 0.22 | 3.71 | 10.26 | 17.71 | 21.91 | 19.38 | 35.20 | 32.46 |
| — | +151.1% | -88.1% | -98.1% | -99.3% | -99.0% | -80.8% | -70.9% | -45.4% | -63.8% | -61.5% | -35.9% | -45.9% | |
| P/FCF | — | — | — | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | |
| EV / EBITDA | — | — | 0.82 | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | |
| EV / EBIT | — | — | — | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
FuelCell Energy, Inc.'s operating margin was -86.1% in Q1 2026, down 163.9 pp QoQ and up 86.8 pp YoY. The trailing four-quarter average of -77.0% exceeds the current quarter, suggesting the latest result may reflect seasonal weakness or a one-off headwind. Gross margin expanded 30.0% YoY, indicating pricing power or improving input costs.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | -16.7% | -19.2% | -12.1% | -11.0% | -25.2% | -27.4% | -22.1% | -26.2% | -31.6% | -70.2% | -6.5% | -32.2% | -15.9% |
| — | +30.0% | +45.5% | +58.0% | +20.0% | +61.0% | -239.6% | +18.7% | -98.6% | -597.3% | +83.2% | -232.1% | +64.4% | |
| Operating Margin | -76.6% | -86.1% | 77.8% | -204.0% | -95.7% | -172.9% | -83.2% | -141.9% | -184.5% | -254.5% | -161.9% | -162.3% | -93.5% |
| — | +50.2% | +193.5% | -43.8% | +48.1% | +32.1% | +48.6% | +12.6% | -97.3% | -320.2% | -48.8% | -149.8% | +45.7% | |
| Net Margin | -118.8% | -77.5% | -54.3% | -196.1% | -101.7% | -153.3% | -84.0% | -137.8% | -143.4% | -118.6% | -135.2% | -95.2% | -88.4% |
| — | +49.5% | +35.3% | -42.3% | +29.0% | -29.3% | +37.9% | -44.8% | -62.1% | -108.5% | -26.1% | -41.6% | +52.1% |
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -25.8% | -3.3% | -4.4% | -14.1% | -5.5% | -4.1% | -5.6% | -4.5% | -4.4% | -2.6% | -4.0% | -3.3% | -4.7% |
| — | +18.9% | +21.7% | -213.6% | -24.4% | -54.3% | -42.3% | -36.9% | +6.0% | +6.9% | +28.8% | +14.1% | -11.5% | |
| ROA | -19.8% | -2.5% | -3.4% | -10.7% | -4.2% | -3.1% | -4.4% | -3.5% | -3.5% | -2.1% | -3.2% | -2.7% | -3.9% |
| — | +22.0% | +23.3% | -205.4% | -21.6% | -49.3% | -37.0% | -30.1% | +9.8% | +8.5% | +28.4% | +12.2% | -15.4% | |
| ROIC | -14.0% | -4.0% | 5.5% | -11.0% | -3.7% | -3.4% | -4.3% | -3.5% | -4.9% | -5.2% | -4.4% | -5.4% | -5.0% |
| — | -19.1% | +229.3% | -211.1% | +24.9% | +35.9% | +2.8% | +33.9% | +2.0% | -42.0% | +44.9% | -1.3% | +7.1% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
The current ratio has improved 25.6% YoY to 7.96x, strengthening the short-term liquidity position. Debt/Equity has declined for 4 consecutive quarters, reflecting a deleveraging trend.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.20 | 0.04 | 0.20 | 0.22 | 0.22 | 0.20 | 0.19 | 0.20 | 0.21 | 0.17 | 0.18 | 0.17 | 0.15 |
| — | -77.9% | +1.3% | +8.3% | +4.2% | +14.9% | +6.1% | +20.0% | +44.6% | +37.2% | +32.5% | +26.1% | +14.0% | |
| Debt / EBITDA | — | — | 2.74 | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | |
| Current Ratio | 6.63 | 7.96 | 6.63 | 5.37 | 5.62 | 6.34 | 6.01 | 6.91 | 6.55 | 8.26 | 7.23 | 8.72 | 7.22 |
| — | +25.6% | +10.3% | -22.4% | -14.1% | -23.3% | -16.8% | -20.8% | -9.3% | +4.0% | +6.9% | +21.2% | -2.6% | |
| Quick Ratio | 5.36 | 6.51 | 5.36 | 3.85 | 3.82 | 4.40 | 4.48 | 4.97 | 4.80 | 6.35 | 5.95 | 7.27 | 5.83 |
| — | +47.9% | +19.8% | -22.5% | -20.5% | -30.7% | -24.7% | -31.7% | -17.7% | -0.9% | +4.2% | +17.4% | -8.7% | |
| Interest Coverage | -11.68 | — | 16.00 | -37.43 | -14.05 | -12.60 | -16.27 | -13.16 | -18.18 | -18.17 | -15.67 | -21.65 | -23.87 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 47 years · Updated daily
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FuelCell Energy, Inc.'s current P/E is -1.7x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
FuelCell Energy, Inc.'s current operating margin is -76.6%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking FuelCell Energy, Inc.'s business trajectory between earnings reports.