FuelCell Energy, Inc. (FCEL) P/E Ratio History
Historical price-to-earnings valuation from 1993 to 1998
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FCEL Valuation Context
How does the current P/E compare to historical and market benchmarks?
P/E Ratio Analysis
As of May 8, 2026, FuelCell Energy, Inc. (FCEL) trades at a price-to-earnings ratio of -1.7x, with a stock price of $12.28 and trailing twelve-month earnings per share of $-3.80.
The current P/E is 100% below its 5-year average of 6910.7x. Over the past five years, FCEL's P/E has ranged from a low of 1959.8x to a high of 61541.0x, placing the current valuation at the 0th percentile of its historical range.
Compared to the Industrials sector median P/E of 25.5x, FCEL trades at a 106% discount to its sector peers. The sector includes 413 companies with P/E ratios ranging from 0.0x to 185.3x.
Relative to the broader market, FCEL trades at a notable discount to the S&P 500 median P/E of 25.1x. Investors should consider the company's growth prospects, competitive position, and earnings quality when evaluating whether the current valuation is justified.
For a comprehensive intrinsic value estimate using discounted cash flow analysis, see our FCEL DCF Valuation Calculator →
Note: P/E ratio is just one valuation metric. It does not account for balance sheet strength, cash flow quality, or growth sustainability. Always conduct comprehensive due diligence before making investment decisions.
FCEL P/E vs Peers
P/E ratio compared to closely matched public peers
| Company | Market Cap | P/E Ratio | PEG Ratio | EPS Growth (1Y) |
|---|---|---|---|---|
| $4B | 12.5Lowest | - | +26%Best | |
| $16B | 99.2 | - | -50% | |
| $2B | 35.8 | - | -22% | |
| $229B | 33.8 | 1.33Best | +7% |
Peers sorted by market capitalization. P/E below peers may indicate undervaluation or lower growth expectations. Consider PEG ratio for growth-adjusted comparison.
FCEL Historical P/E Data (1993–1998)
Quarterly P/E ratios calculated from closing price and TTM EPS
| Quarter | Date | Price | TTM EPS | P/E Ratio | vs Avg |
|---|---|---|---|---|---|
| FY1998 Q3 | Fri Jul 31 1998 00:00:00 GM | $12923.62 | $0.21 | 61541.0x | +819% |
| FY1998 Q2 | $17071.40 | $3.45 | 4948.2x | -26% | |
| FY1998 Q1 | Sat Jan 31 1998 00:00:00 GM | $11526.47 | $2.89 | 3988.4x | -40% |
| FY1997 Q4 | Fri Oct 31 1997 00:00:00 GM | $11177.19 | $2.90 | 3854.2x | -42% |
| FY1997 Q3 | $6898.42 | $3.52 | 1959.8x | -71% | |
| FY1997 Q2 | Wed Apr 30 1997 00:00:00 GM | $6898.42 | $2.98 | 2314.9x | -65% |
| FY1997 Q1 | Fri Jan 31 1997 00:00:00 GM | $8382.89 | $2.96 | 2832.1x | -58% |
| FY1996 Q4 | $8470.21 | $2.99 | 2832.8x | -58% | |
| FY1996 Q3 | Wed Jul 31 1996 00:00:00 GM | $10653.25 | $1.77 | 6018.8x | -10% |
| FY1996 Q2 | $8906.82 | $1.95 | 4567.6x | -32% | |
| FY1996 Q1 | Wed Jan 31 1996 00:00:00 GM | $7858.96 | $2.44 | 3220.9x | -52% |
| FY1995 Q4 | $7946.28 | $2.45 | 3243.4x | -52% |
Average P/E for displayed period: 6699.5x
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Start ComparisonFCEL — Frequently Asked Questions
Quick answers to the most common questions about buying FCEL stock.
Is FCEL stock overvalued or undervalued?
FCEL trades at -1.7x P/E, below its 5-year average of 6910.7x. At the N/A percentile of historical range, the stock is priced at a discount to its own history.
How does FCEL's valuation compare to peers?
FuelCell Energy, Inc. P/E of -1.7x compares to sector median of 25.5x. The discount suggests lower growth expectations or higher risk.
What is FCEL's PEG ratio?
FCEL PEG ratio is N/A. Above 2.0 indicates premium valuation relative to growth rate. Historical P/E data spans 1993-1998.