Tearsheet
Investment Highlights Market Valuation Price Chart About FCEL Interactive Breakdown Better Bets vs. FCEL Latest Trefis Analyses Trade Ideas Recent Active Movers More From Trefis Peer Financials Peer Growth & Margins Peer Valuation Peer Returns Peer Analyses FDIC Bank Data Financials Segment Financials Price Behavior Short Interest Earnings Returns History SEC Filings Insider Activity Industry Resource Links External Quote Links

FuelCell Energy (FCEL)

Market Price (10/15/2025): $11.57 | Market Cap: $282.8 Mil
Sector: Industrials | Industry: Electrical Components & Equipment

FuelCell Energy (FCEL)

Market Price (10/15/2025): $11.57
Market Cap: $282.8 Mil
Sector: Industrials
Industry: Electrical Components & Equipment

Investment Highlights

0 Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 79%		 Weak multi-year price returns
2Y Excs Rtn is -124%, 3Y Excs Rtn is -170%		 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -132 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -87%
1 Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -44%		 Meaningful short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 12%		 Stock price has recently run up significantly
6M Rtn6 month market price return is 186%
2   Not cash flow generative
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -63%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -84%
3   Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -76%
4   High stock price volatility
Vol 12M is 111%
0 Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 79%
1 Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -44%
2 Weak multi-year price returns
2Y Excs Rtn is -124%, 3Y Excs Rtn is -170%
3 Meaningful short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 12%
4 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -132 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -87%
5 Stock price has recently run up significantly
6M Rtn6 month market price return is 186%
6 Not cash flow generative
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -63%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -84%
7 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -76%
8 High stock price volatility
Vol 12M is 111%

Market Valuation & Key Metrics

FCELS&P 500
REVENUE GROWTHVERY GOOD
Rev LTM ($ Bil)0.2
Rev Chg Q97.3%6.1%
Rev Chg LTM78.8%5.2%
Rev Chg 3Y Avg24.3%5.3%
PROFITABILITYVERY POOR
Op Inc LTM ($ Bil)-0.1
Op Mgn LTM-86.9%18.6%
CFO LTM ($ Bil)-0.1
CFO/Rev LTM-63.3%20.3%
Net Inc LTM ($ Bil)-0.2
Net Inc Mgn-130.8%12.7%
VALUATIONLOW
P/S1.93.2
P/CFO-2.915.7
P/FCF-2.220.6
P/E-1.423.6
STABILITYGOOD
Debt/Equity0.530.21
Cash/Assets0.210.07

FCEL Stock

Factor Drivers of Stock Movement
The 185.8% change in FCEL stock from 4/15/2025 to 10/14/2025 was primarily driven by a 155.7% change in the company's P/S Multiple.

415202510142025Change
Stock Price ($)4.0011.43185.75%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)114.44152.4733.24%
P/S Multiple0.721.83155.68%
Shares Outstanding (Mil)20.5024.44-19.22%
Cumulative Contribution175.20%

LTM = Last Twelve Months as of date shown
The 12.5% change in FCEL stock from 10/14/2024 to 10/14/2025 was primarily driven by a 78.8% change in the company's Total Revenues ($ Mil).

1014202410142025Change
Stock Price ($)10.1611.4312.46%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)85.27152.4778.82%
P/S Multiple2.001.83-8.36%
Shares Outstanding (Mil)16.7724.44-45.72%
Cumulative Contribution-11.05%

LTM = Last Twelve Months as of date shown
The -86.9% change in FCEL stock from 10/15/2022 to 10/14/2025 was primarily driven by a -89.2% change in the company's Shares Outstanding (Mil).

1015202210142025Change
Stock Price ($)87.0011.43-86.86%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)105.22152.4744.91%
P/S Multiple10.681.83-82.84%
Shares Outstanding (Mil)12.9224.44-89.24%
Cumulative Contribution-97.32%

LTM = Last Twelve Months as of date shown

Price Returns Compared

 202020212022202320242025Total [1]
Returns
FCEL Return345%-53%-47%-42%-81%26%-88%
Peers Return40%-13%-6%82%53%25%301%
S&P 500 Return16%27%-19%24%23%13%103%

Monthly Win Rates [3]
FCEL Win Rate58%42%33%50%8%33% 
Peers Win Rate35%21%32%40%57%53% 
S&P 500 Win Rate58%75%42%67%75%67% 

Max Drawdowns [4]
FCEL Max Drawdown-57%-54%-51%-63%-88%-59% 
Peers Max Drawdown-32%-17%-35%-9%-10%-32% 
S&P 500 Max Drawdown-31%-1%-25%-1%-2%-15% 

[1] Cumulative total returns since the beginning of 2020
[2] Peers: AMSC, THR, LYTS, ADSE, CCTG. See FCEL Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 10/14/2025 (YTD)

Downturns Compared

Unique KeyEventFCELS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-96.3%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven2614.6%34.1%
2022 Inflation ShockTime to BreakevenTime to BreakevenNot Fully Recovered days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-62.2%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven164.2%51.3%
2020 Covid PandemicTime to BreakevenTime to Breakeven90 days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-99.4%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven17396.8%24.7%
2018 CorrectionTime to BreakevenTime to Breakeven595 days120 days
2008 Global Financial Crisis2008 Global Financial Crisis  
2008 Global Financial Crisis% Loss% Loss-84.6%-56.8%
2008 Global Financial Crisis% Gain to Breakeven% Gain to Breakeven550.5%131.3%
2008 Global Financial CrisisTime to BreakevenTime to BreakevenNot Fully Recovered days1480 days


How Low Can It Go?

FuelCell Energy's stock fell -96.3% during the 2022 Inflation Shock from a high on 2/9/2021. A -96.3% loss requires a 2614.6% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth over time.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About FuelCell Energy (FCEL)

FuelCell 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.

Better Bets than FuelCell Energy (FCEL)

 FCELBetter Performance than FCEL
MetricValueIndustry (Electrical Components & Equipm)
Rev Chg LTM78.8%AMPX (263.8%), NEOV (218.6%), PPSI (674.8%)
Rev Chg 3Y Avg24.3%EMR (24.9%), POWL (30.0%), EOSE (67.1%), ENVX (436.9%), AMPX (164.3%)
Op Mgn LTM-86.9%ETN (18.8%), EMR (18.8%), VRT (17.4%), AME (26.2%), ROK (15.5%)
CFO/Rev LTM-63.3%ETN (15.6%), EMR (17.8%), VRT (15.7%), AME (26.5%), ROK (18.9%)
FCF/Rev LTM-84.4%ETN (12.6%), EMR (15.4%), VRT (13.6%), AME (24.7%), ROK (16.4%)
Total Yield-71.4%ETN (3.0%), EMR (4.0%), VRT (1.3%), AME (3.9%), ROK (4.0%)
 FCELBetter Performance than FCEL
MetricValueAll Other Sectors
Rev Chg LTM78.8%NBIS (542.6%), ALAB (163.8%), ASTS (249.4%), CRDO (175.8%), SW (163.8%)
Rev Chg 3Y Avg24.3%NVDA (92.0%), PLTR (25.7%), SHOP (26.0%), ANET (32.1%), CRWD (33.5%)
Op Mgn LTM-86.9%NVDA (58.1%), MSFT (45.6%), AAPL (31.9%), GOOGL (32.7%), AMZN (11.4%)
CFO/Rev LTM-63.3%NVDA (46.6%), MSFT (48.3%), AAPL (26.6%), GOOGL (36.0%), AMZN (18.1%)
FCF/Rev LTM-84.4%NVDA (43.6%), MSFT (25.4%), AAPL (23.5%), GOOGL (18.0%), AMZN (2.0%)
Total Yield-71.4%NVDA (2.0%), MSFT (3.3%), AAPL (3.1%), GOOGL (4.2%), AMZN (3.1%)

Latest Trefis Analyses

TitleTopicDate
0DASHBOARDS  
1Day 6 of Gains Streak for FuelCell Energy Stock with 75% Return (vs. -24% YTD) [9/12/2025]Notification 
2Day 5 of Gains Streak for FuelCell Energy Stock with 65% Return (vs. -29% YTD) [9/11/2025]Notification 
3FuelCell Energy During 2008 Recession vs. 2022 Inflation Shock: FCEL Stock Has 15207% Upside If It Recovers To Pre-Inflation Shock Levels Actionable 
4Day 8 of Loss Streak for FuelCell Energy Stock with -24% Return (vs. -18% YTD) [1/29/2025]Notification 
5FuelCell Energy (FCEL) Stock: 29% of days in last 3 months had 1% or greater fluctuation  
6FuelCell Energy vs. Winmark: With Return Forecast Of 63%, FuelCell Energy Is A Better BetPeer Comparison 
7FuelCell Energy vs. EchoStar: With Return Forecast Of 18%, FuelCell Energy Is A Better BetPeer Comparison 
8FuelCell Energy vs. GXO Logistics: With Return Forecast Of 58%, GXO Logistics Is A Better BetPeer Comparison 
9FuelCell Energy vs. Beacon Roofing Supply: Both Seem Similar BetsPeer Comparison 
10FuelCell Energy vs. LSI Industries: With Return Forecast Of 25%, LSI Industries Is A Better BetPeer Comparison 
11ARTICLES  
12FCEL Stock Up 75% after 6-Day Win Streak September 13th, 2025
13FCEL Stock Up 65% after 5-Day Win Streak September 11th, 2025
14What Does 2023 Hold For The Hydrogen Theme? December 27th, 2022
15What’s Driving The Rally In Hydrogen Stocks? August 15th, 2022
16Hydrogen Stocks Have Corrected, Should You Buy? June 29th, 2022
Title
0DASHBOARDS
1FCEL Stock Up 75% after 6-Day Win Streak
2FCEL Stock Up 65% after 5-Day Win Streak
3What Does 2023 Hold For The Hydrogen Theme?
4What’s Driving The Rally In Hydrogen Stocks?
5Hydrogen Stocks Have Corrected, Should You Buy?
6ARTICLES
7Day 6 of Gains Streak for FuelCell Energy Stock with 75% Return (vs. -24% YTD) [9/12/2025]
8Day 5 of Gains Streak for FuelCell Energy Stock with 65% Return (vs. -29% YTD) [9/11/2025]
9FuelCell Energy During 2008 Recession vs. 2022 Inflation Shock: FCEL Stock Has 15207% Upside If It Recovers To Pre-Inflation Shock Levels 
10Day 8 of Loss Streak for FuelCell Energy Stock with -24% Return (vs. -18% YTD) [1/29/2025]
11FuelCell Energy (FCEL) Stock: 29% of days in last 3 months had 1% or greater fluctuation
12FuelCell Energy vs. Winmark: With Return Forecast Of 63%, FuelCell Energy Is A Better Bet
13FuelCell Energy vs. EchoStar: With Return Forecast Of 18%, FuelCell Energy Is A Better Bet
14FuelCell Energy vs. GXO Logistics: With Return Forecast Of 58%, GXO Logistics Is A Better Bet
15FuelCell Energy vs. Beacon Roofing Supply: Both Seem Similar Bets
16FuelCell Energy vs. LSI Industries: With Return Forecast Of 25%, LSI Industries Is A Better Bet

Trade Ideas

Select past trade ideas related to FCEL and Electrical Components & Equipment.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
FCN_9302025_Dip_Buyer_ValueBuy09302025FCNFTI ConsultingDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin		-2.5%-2.5%-2.5%
ODFL_9122025_Monopoly_xInd_xCD_Getting_Cheaper09122025ODFLOld Dominion Freight LineMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		-6.5%-6.5%-7.3%
EFX_8312025_Monopoly_xInd_xCD_Getting_Cheaper08312025EFXEquifaxMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		-7.3%-7.3%-8.5%
UHAL_8312025_Monopoly_xInd_xCD_Getting_Cheaper08312025UHALU-HaulMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		-2.8%-2.8%-5.6%
BWXT_8312025_Quality_Momentum_RoomToRun_10%08312025BWXTBWX TechnologiesQualityQ | Momentum | UpsideQuality Stocks with Momentum and Upside
Buying quality stocks with strong momentum but still having room to run		24.9%24.9%-1.2%
Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
FCN_9302025_Dip_Buyer_ValueBuy09302025FCNFTI ConsultingDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin		-2.5%-2.5%-2.5%
ODFL_9122025_Monopoly_xInd_xCD_Getting_Cheaper09122025ODFLOld Dominion Freight LineMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		-6.5%-6.5%-7.3%
EFX_8312025_Monopoly_xInd_xCD_Getting_Cheaper08312025EFXEquifaxMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		-7.3%-7.3%-8.5%
UHAL_8312025_Monopoly_xInd_xCD_Getting_Cheaper08312025UHALU-HaulMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		-2.8%-2.8%-5.6%
BWXT_8312025_Quality_Momentum_RoomToRun_10%08312025BWXTBWX TechnologiesQualityQ | Momentum | UpsideQuality Stocks with Momentum and Upside
Buying quality stocks with strong momentum but still having room to run		24.9%24.9%-1.2%

See Trefis Trade Ideas for more.

Recent Active Movers

1 Week Top Gainers

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7SSIISS Innovations International34.1%15.2%
8METCRamaco Resources34.0%439.5%
9MPMP Materials33.7%532.4%
10ORKAOruka Therapeutics33.6%41.7%

1 Week Top Losers

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1BNTBrookfield Wealth Solutions-33.2%18.5%
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4ALABAstera Labs-23.8%22.0%
5HELEHelen Of Troy-23.3%-65.4%
6CORTCorcept Therapeutics-20.2%43.1%
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8SRRKScholar Rock-19.2%-26.2%
9TASKTaskUs-18.8%-18.1%
10BBBYBed Bath & Beyond-18.1% 

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#TickerCompany1M RtnYTD Rtn
1WOLFWolfspeed1000.7%389.2%
2QUREuniQure297.4%233.9%
3UAMYUnited States Antimony244.6%887.0%
4LACLithium Americas214.1%238.4%
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1ANGXAngel Studios-53.8% 
2REXREX American Resources-46.2%57.7%
3VGVenture Global-34.0% 
4LDIloanDepot-33.8%46.6%
5FLYFirefly Aerospace-31.4% 
6ALABAstera Labs-30.2%22.0%
7FWRDForward Air-29.4%-34.3%
8USNAUsana Health Sciences-29.1%-40.9%
9IDTIDT-28.9%-0.4%
10PGYPagaya Technologies-28.8%221.4%

Recent Active Movers

1 Week Top Gainers

#TickerCompany1W RtnYTD Rtn
1UAMYUnited States Antimony100.8%887.0%
2BITFBitfarms69.7%295.3%
3NVTSNavitas Semiconductor61.6%252.1%
4ASPIASP Isotopes58.0%210.2%
5UUUUEnergy Fuels49.1%411.3%
6GLUEMonte Rosa Therapeutics43.8%52.9%
7SSIISS Innovations International34.1%15.2%
8METCRamaco Resources34.0%439.5%
9MPMP Materials33.7%532.4%
10ORKAOruka Therapeutics33.6%41.7%

1 Week Top Losers

#TickerCompany1W RtnYTD Rtn
1BNTBrookfield Wealth Solutions-33.2%18.5%
2BNBrookfield-33.0%18.9%
3VGVenture Global-30.2% 
4ALABAstera Labs-23.8%22.0%
5HELEHelen Of Troy-23.3%-65.4%
6CORTCorcept Therapeutics-20.2%43.1%
7USNAUsana Health Sciences-19.4%-40.9%
8SRRKScholar Rock-19.2%-26.2%
9TASKTaskUs-18.8%-18.1%
10BBBYBed Bath & Beyond-18.1% 

More From Trefis

Research & Analysis

Invest in Strategies

Wealth Management

Peer Comparisons for FuelCell Energy

Financials

FCELAMSCTHRLYTSADSECCTGMedian
NameFuelCell.American.Thermon LSI Indu.ADS-TEC .CCSC Tec. 
Mkt Price11.4365.5426.4822.6610.311.2517.05
Mkt Cap0.32.50.90.7--0.8
Rev LTM152223492573--357
Op Inc LTM-13267536--21
FCF LTM-129265235--30
FCF 3Y Avg-20015140--20
CFO LTM-97286138--33
CFO 3Y Avg-14036244--23

Growth & Margins

FCELAMSCTHRLYTSADSECCTGMedian
NameFuelCell.American.Thermon LSI Indu.ADS-TEC .CCSC Tec. 
Rev Chg LTM78.8%53.0%-2.2%22.1%--37.5%
Rev Chg 3Y Avg24.3%29.4%9.3%8.6%--16.8%
Rev Chg Q97.3%58.6%-5.4%20.2%--39.4%
QoQ Delta Rev Chg LTM17.8%12.4%-1.3%4.8%--8.6%
Op Mgn LTM-86.9%2.5%15.3%6.3%--4.4%
Op Mgn 3Y Avg-123.0%-10.7%14.9%7.1%---1.8%
QoQ Delta Op Mgn LTM20.7%0.7%-0.6%0.2%--0.5%
CFO/Rev LTM-63.3%12.7%12.4%6.6%--9.5%
CFO/Rev 3Y Avg-124.7%-2.4%12.7%8.6%--3.1%
FCF/Rev LTM-84.4%11.6%10.7%6.0%--8.4%
FCF/Rev 3Y Avg-178.9%-3.3%10.6%7.8%--2.3%

Valuation

FCELAMSCTHRLYTSADSECCTGMedian
NameFuelCell.American.Thermon LSI Indu.ADS-TEC .CCSC Tec. 
Mkt Cap0.32.50.90.7--0.8
P/S1.811.11.81.2--1.8
P/EBIT-1.5440.311.018.9--14.9
P/E-1.4409.116.428.0--22.2
P/CFO-2.987.314.317.9--16.1
Total Yield-71.4%0.2%6.1%4.0%--2.1%
Dividend Yield0.0%0.0%0.0%0.4%--0.0%
FCF Yield 3Y Avg-65.6%-3.8%5.3%9.6%--0.7%
D/E0.50.00.20.1--0.1
Net D/E-0.1-0.00.10.1--0.0

Returns

FCELAMSCTHRLYTSADSECCTGMedian
NameFuelCell.American.Thermon LSI Indu.ADS-TEC .CCSC Tec. 
1M Rtn66.4%16.4%3.7%0.8%5.5%-16.7%4.6%
3M Rtn122.4%60.0%-4.1%30.7%-6.1%20.2%25.5%
6M Rtn185.8%259.1%5.9%41.5%-15.6%-19.9%23.7%
12M Rtn12.5%175.3%-8.0%38.2%-23.6%-22.8%2.2%
3Y Rtn-86.9%1,593.5%67.1%200.5%75.6%-75.6%
1M Excs Rtn73.0%15.4%2.7%-1.8%13.1%-17.1%7.9%
3M Excs Rtn123.0%53.5%-10.3%23.6%-12.3%8.6%16.1%
6M Excs Rtn164.3%237.6%-16.6%17.8%-40.6%-35.1%0.6%
12M Excs Rtn1.5%180.7%-21.3%24.3%-36.8%-29.3%-9.9%
3Y Excs Rtn-170.3%1,338.1%-12.9%106.6%-24.2%--12.9%

Comparison Analyses

Title
0FuelCell Energy vs. Winmark: With Return Forecast Of 63%, FuelCell Energy Is A Better Bet
1FuelCell Energy vs. EchoStar: With Return Forecast Of 18%, FuelCell Energy Is A Better Bet
2FuelCell Energy vs. GXO Logistics: With Return Forecast Of 58%, GXO Logistics Is A Better Bet
3FuelCell Energy vs. Beacon Roofing Supply: Both Seem Similar Bets
4FuelCell Energy vs. LSI Industries: With Return Forecast Of 25%, LSI Industries Is A Better Bet
5FuelCell Energy vs. Regenxbio: With Return Forecast Of 16%, Regenxbio Is A Better Bet
6FuelCell Energy vs. Nektar Therapeutics: With Return Forecast Of 5%, Nektar Therapeutics Is A Better Bet
7FuelCell Energy vs. Travelzoo: With Return Forecast Of 9.7%, Travelzoo Is A Better Bet
8FuelCell Energy vs. Box: With Return Forecast Of 18%, Box Is A Better Bet
9FuelCell Energy vs. Cytokinetics: Neither Seems Like A Good Bet

Financials

$ Mil | FY: 10/312025Q32025Q22025Q12024Q42024Q32024Q22024Q12023Q42023Q32023Q22023Q12022Q4
Period End7/31/20254/30/20251/31/202510/31/20247/31/20244/30/20241/31/202410/31/20237/31/20234/30/20231/31/202310/31/2022
Filing Date9/9/20256/6/20253/11/202512/27/20249/5/20246/10/20243/7/202412/19/20239/11/20236/8/20233/9/202312/20/2022
Key Financials Quarterly            
Total Revenue473719492422172226383739
Ebitda-80-24-20-28-23-26-33-20-15-26-14-35
Operating Income-27-36-31-38-34-41-42-36-41-36-22-43
Net Income-92-38-28-41-33-32-20-30-24-34-19-42
EPS-3.78-1.79-1.42-2.21-1.99-2.18-1.37-2.10-1.80-2.70-1.50-3.30
Key Financials TTM            
Total Revenue TTM1521291141128587103123140158136130
Ebitda TTM-152-96-97-111-103-95-95-75-90-96-93-119
Operating Income TTM-132-139-145-156-154-162-156-136-142-129-121-144
Net Income TTM-199-140-135-126-115-107-109-108-120-125-121-143
Growth Rates Quarterly            
Total Revenue Growth97.3%66.8%13.8%119.6%-7.1%-41.5%-55.0%-42.7%-40.8%134.1%16.6%181.3%
EBITDA Growth-241.1%6.2%40.7%-38.3%-54.8%-0.2%-146.2%41.9%30.2%-11.6%65.1%-100.8%
Operating Income Growth20.1%13.4%26.3%-5.8%18.8%-15.3%-89.2%14.7%-47.9%-27.1%49.9%-89.2%
Net Income Growth-180.6%-18.4%-43.1%-36.4%-34.5%6.3%-6.3%28.5%17.5%-13.5%54.2%-75.6%
Margins Quarterly            
EBITDA Margin-170.2%-64.8%-104.4%-57.3%-98.5%-115.2%-200.5%-90.9%-59.1%-67.2%-36.7%-89.6%
Operating Income Margin-57.4%-95.7%-164.8%-78.0%-141.9%-184.5%-254.5%-161.9%-162.3%-93.5%-60.6%-108.8%
Net Income Margin-196.1%-101.7%-149.1%-84.0%-137.8%-143.4%-118.6%-135.2%-95.2%-89.4%-50.2%-108.3%
Cash & Debt            
Total Cash175177208257267260297354381323391458
Total Debt149150152156148151137139129104105104
Net Debt / (Cash)-26-27-56-101-119-109-160-214-252-219-286-354
Cash Flows Quarterly            
FCF from Operations-27-30-466-63-37-58-16-36-35-53-24
Cash Flows TTM            
FCF from Operations TTM-97-133-140-153-175-147-145-140-149-136-118-112
Returns to Shareholders Quarterly            
Dividends000000000000
Share Repurchases-0-0-0-0-0-0-0-0-0-0-0-0
Return on Invested Capital (ROIC) Quarterly            
ROIC-4.5%-6.1%-5.4%-6.8%-6.1%-7.7%-8.1%-7.1%-8.3%-7.4%-4.8%-9.5%
Return on Invested Capital (ROIC) TTM            
ROIC TTM-5.5%-5.9%-6.3%-6.9%-6.9%-7.5%-7.4%-6.7%-7.1%-6.7%-6.5%-8.0%

Segment Financials

Revenue by Segment

$ Mil20242023202220212020
Service4913202527
Generation3836242014
Product20600 0
Advanced Technologies1722262620
Total123130707161


Price Behavior

FCEL Betas & Captures as of 9/30/2025

 1M2M3M6M1Y3Y
Beta6.293.333.470.981.061.76
Up Beta-6.09-1.81-0.330.120.181.22
Down Beta23.126.474.270.621.001.09
Up Capture1409%701%649%504%213%738%
Bmk +ve Days13233574144420
Stock +ve Days13223260110308
Down Capture-8%271%398%198%151%111%
Bmk -ve Days8192952107330
Stock -ve Days7193062137414

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Short Interest

Short Interest: As Of Date9302025
Short Interest: Shares Quantity2,964,878
Short Interest: % Change Since 915202529.1%
Average Daily Volume4,911,526
Days-to-Cover Short Interest1
Basic Shares Quantity24,441,294
Short % of Basic Shares12.1%

Returns Analyses

Earnings Returns History

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 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
9/9/202522.7%56.2%141.5%
6/6/202524.4%21.5%7.7%
3/11/20253.6%-3.3%-38.2%
11/15/2024-12.1%13.0%54.8%
9/5/20241.9%9.0%-12.0%
6/10/202412.6%-5.7%-31.0%
3/7/2024-9.0%-15.6%-7.4%
12/19/2023-4.6%15.0%-23.9%
...
SUMMARY STATS   
# Positive997
# Negative141416
Median Positive9.8%9.0%23.1%
Median Negative-10.1%-11.1%-17.7%
Max Positive24.4%56.2%141.5%
Max Negative-22.9%-37.2%-39.4%

SEC Filings

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Report DateFiling DateFiling
7312025909202510-Q 7/31/2025
4302025606202510-Q 4/30/2025
1312025311202510-Q 1/31/2025
103120241227202410-K 10/31/2024
7312024905202410-Q 7/31/2024
4302024610202410-Q 4/30/2024
1312024307202410-Q 1/31/2024
103120231219202310-K 10/31/2023
7312023911202310-Q 7/31/2023
4302023608202310-Q 4/30/2023
1312023309202310-Q 1/31/2023
103120221220202210-K 10/31/2022
7312022908202210-Q 7/31/2022
4302022609202210-Q 4/30/2022
1312022310202210-Q 1/31/2022
103120211229202110-K 10/31/2021

Insider Activity

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External Quote Links


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