Fuel Tech, Inc. (FTEK) Revenue History
Annual and quarterly revenue from 2014 to 2025
Compound Annual Growth Rate (CAGR)
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FTEK Revenue Growth
Revenue Breakdown (FY 2025)
FTEK's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
By Geography
FTEK Revenue Analysis (2014–2025)
As of May 8, 2026, Fuel Tech, Inc. (FTEK) generated trailing twelve-month (TTM) revenue of $26.4 million, reflecting slight decline in growth of -4.7% year-over-year. The most recent quarter (Q1 2026) recorded $6.1 million in revenue, down 16.1% sequentially.
Looking at the longer-term picture, FTEK's 5-year compound annual growth rate (CAGR) stands at +3.4%, indicating moderate growth over time. The company achieved its highest annual revenue of $79.0 million in 2014.
Revenue diversification analysis shows FTEK's business is primarily driven by FUEL CHEM (77%), and Air Pollution Control (23%). With over half of revenue concentrated in FUEL CHEM, the company maintains significant focus in this area while developing other growth vectors.
When compared to Industrials sector peers including CECO (+33.5% YoY), CLIR (-49.7% YoY), and PESI (-0.9% YoY), FTEK has underperformed the peer group in terms of revenue growth. Compare FTEK vs CECO →
FTEK Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| FTEKCurrent | $26M | -4.7% | +3.4% | -13.8% | |
 CECO | $774M | +33.5% | +19.6% | 6.7% | |
 CLIR | $4M | -49.7% | - | -180.4% | |
 PESI | $62M | -0.9% | -10.2% | -19.0% | |
 GEV | $38.1B | +10.2% | - | 3.6% | |
 ETN | $27.4B | +12.7% | +9.0% | 19.1% |
FTEK Historical Revenue Data (2014–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $26.7M | +6.1% | $12.4M | 46.4% | $-3,681,000 | -13.8% |
| 2024 | $25.1M | -7.2% | $10.6M | 42.3% | $-4,702,000 | -18.7% |
| 2023 | $27.1M | +0.5% | $11.7M | 43.0% | $-2,658,000 | -9.8% |
| 2022 | $26.9M | +11.0% | $11.6M | 43.2% | $-1,527,000 | -5.7% |
| 2021 | $24.3M | +7.6% | $11.9M | 49.0% | $-1,489,000 | -6.1% |
| 2020 | $22.6M | -26.0% | $10.6M | 47.2% | $-4,336,000 | -19.2% |
| 2019 | $30.5M | -46.1% | $10.8M | 35.5% | $-8,240,000 | -27.0% |
| 2018 | $56.5M | +25.2% | $20.1M | 35.5% | $110K | 0.2% |
| 2017 | $45.2M | -18.1% | $18.0M | 39.9% | $-7,065,000 | -15.6% |
| 2016 | $55.2M | -25.1% | $18.8M | 34.1% | $-14,824,000 | -26.9% |
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Start ComparisonFTEK — Frequently Asked Questions
Quick answers to the most common questions about buying FTEK stock.
Is FTEK's revenue growth accelerating or slowing?
FTEK revenue growth slowed to -4.7%, below the 5-year CAGR of +3.4%. TTM revenue is $26M. The deceleration marks a shift from historical growth rates.
What is FTEK's long-term revenue growth rate?
Fuel Tech, Inc.'s 5-year revenue CAGR of +3.4% reflects the variable expansion pattern. Current YoY growth of -4.7% is near this long-term average.
How is FTEK's revenue distributed by segment?
FTEK reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2014-2025 are available for download. Segment mix reveals concentration and diversification trends.