FCEL
FuelCell Energy, Inc.
FCEL lost money over the past year, so it has no meaningful PE right now. Analysts expect losses to shrink, though they disagree widely on how much.
FCEL Fundamentals
| Metric | Status |
|---|---|
| Under pressure | |
| Under pressure | |
| Under pressure | |
| Unavailable |
FCEL's revenue, profitability and cash flow are currently under pressure. There isn't enough data to rate its balance sheet.
FCEL PE Valuation
FCEL has no meaningful PE right now: it lost money over the past year.
FCEL Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Low |
Analysts expect FCEL's losses to shrink, with revenue growing. However, they disagree widely on these estimates.
FCEL Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$3.01 | +$6.11 |
| Q2 2026 | -$6.15 | +$1.29 |
| Q1 2026 | -$6.49 | +$1.26 |
| Q4 2025 | -$7.42 | +$0.41 |
| Q3 2025 | -$9.12 | -$1.62 |
| Q2 2025 | -$7.44 | -$0.24 |
| Q1 2025 | -$7.75 | +$0.05 |
| Q4 2024 | -$7.83 | -$0.03 |
FCEL is still losing money, but far less than before: $3.01 per share over the past year, against $192.90 at its worst in late 2019.
FCEL Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $33M | -29% |
| Q2 2026 | $35.6M | -4.9% |
| Q1 2026 | $30.5M | +61% |
| Q4 2025 | $55M | +12% |
| Q3 2025 | $46.7M | +97% |
| Q2 2025 | $37.4M | +67% |
| Q1 2025 | $19M | +14% |
| Q4 2024 | $49.3M | +120% |
FCEL's revenue has held roughly level: $33M last quarter, down 29% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -141% | +63 points |
| Q2 2026 | -219% | -123 points |
| Q1 2026 | -86% | +87 points |
| Q4 2025 | -51% | +32 points |
| Q3 2025 | -204% | -62 points |
| Q2 2025 | -96% | +89 points |
| Q1 2025 | -173% | +82 points |
| Q4 2024 | -83% | +79 points |
FCEL's operating margin was −141% last quarter, up 63 points from the same quarter a year ago.
FCEL Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$13.5M | +$18.6M |
| Q2 2026 | -$29M | +$6.2M |
| Q1 2026 | -$34.7M | +$18.1M |
| Q4 2025 | -$23.9M | -$19.2M |
| Q3 2025 | -$32.1M | +$44.7M |
| Q2 2025 | -$35.2M | +$15.2M |
| Q1 2025 | -$52.8M | +$16.1M |
| Q4 2024 | -$4.7M | +$22.4M |
FCEL has burned cash in almost every quarter: −$101M over the past year, against −$125M the year before.
FCEL Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +30% | +16.2M shares |
| 1 year | +224% | +48.7M shares |
| 3 years | +420% | +56.9M shares |
| 5 years | +555% | +59.7M shares |
| Available history | +3735% | +68.6M shares |
FCEL has 70M diluted shares, up 224% from a year ago.
FCEL Net Leverage
FCEL's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
FCEL Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 39.8 | Neutral |
| Stochastic | 9.4 | Oversold |
FCEL's weekly RSI is 40 (neutral) and its Stochastic is 9 (oversold).
FCEL PE vs Industrials Sector
FCEL has no meaningful PE right now: it lost money over the past year.
FCEL Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $13.6 | 24% below |
| 20 week MA | $17.4 | 41% below |
| 50 week MA | $13.8 | 26% below |
| 100 week MA | $10.2 | 0.9% above |
| 200 week MA | $26.3 | 61% below |
FCEL's trend is mixed: it's above one of its five weekly moving averages, and 61% below its 200-week average.
FCEL Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $38.1 | $369.0 | +869% |
| 2021 | $369.0 | $193.8 | -47% |
| 2022 | $193.8 | $80.1 | -59% |
| 2023 | $80.1 | $48.0 | -40% |
| 2024 | $48.0 | $10.0 | -79% |
| 2025 | $10.0 | $8.48 | -16% |
| 2026 YTD | $8.48 | $10.3 | +21% |
FCEL has finished five years in a row lower, and it's up 21% so far in 2026.