FUELCELL ENERGY INC (FCEL) Fundamental Analysis & Valuation

NASDAQ:FCEL • US35952H7008

Current stock price

13.26 USD
+0.26 (+2%)
Last:

This FCEL fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

1

1. FCEL Profitability Analysis

1.1 Basic Checks

  • In the past year FCEL has reported negative net income.
  • In the past year FCEL has reported a negative cash flow from operations.
  • FCEL had negative earnings in each of the past 5 years.
  • In the past 5 years FCEL always reported negative operating cash flow.
FCEL Yearly Net Income VS EBIT VS OCF VS FCFFCEL Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 -100M -200M -300M -400M -500M

1.2 Ratios

  • FCEL has a Return On Assets (-18.97%) which is comparable to the rest of the industry.
  • FCEL has a Return On Equity (-24.60%) which is comparable to the rest of the industry.
Industry RankSector Rank
ROA -18.97%
ROE -24.6%
ROIC N/A
ROA(3y)-15.26%
ROA(5y)-14.64%
ROE(3y)-19.8%
ROE(5y)-18.77%
ROIC(3y)N/A
ROIC(5y)N/A
FCEL Yearly ROA, ROE, ROICFCEL Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 -20 -40 -60

1.3 Margins

  • FCEL does not have Profit Margin and Operating Margin and Gross Margin available, so we won't be analyzing them here.
Industry RankSector Rank
OM N/A
PM (TTM) N/A
GM N/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
FCEL Yearly Profit, Operating, Gross MarginsFCEL Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 -50 -100 -150

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5

2. FCEL Health Analysis

2.1 Basic Checks

  • FCEL does not have a ROIC to compare to the WACC, probably because it is not profitable.
  • The number of shares outstanding for FCEL has been increased compared to 1 year ago.
  • Compared to 5 years ago, FCEL has less shares outstanding
  • FCEL has a better debt/assets ratio than last year.
FCEL Yearly Shares OutstandingFCEL Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 100M 200M 300M 400M
FCEL Yearly Total Debt VS Total AssetsFCEL Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 200M 400M 600M 800M

2.2 Solvency

  • Based on the Altman-Z score of -0.49, we must say that FCEL is in the distress zone and has some risk of bankruptcy.
  • Looking at the Altman-Z score, with a value of -0.49, FCEL is in line with its industry, outperforming 40.22% of the companies in the same industry.
  • A Debt/Equity ratio of 0.16 indicates that FCEL is not too dependend on debt financing.
  • Looking at the Debt to Equity ratio, with a value of 0.16, FCEL is in the better half of the industry, outperforming 67.39% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.16
Debt/FCF N/A
Altman-Z -0.49
ROIC/WACCN/A
WACC8.37%
FCEL Yearly LT Debt VS Equity VS FCFFCEL Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 200M -200M 400M -400M 600M

2.3 Liquidity

  • A Current Ratio of 7.96 indicates that FCEL has no problem at all paying its short term obligations.
  • With an excellent Current ratio value of 7.96, FCEL belongs to the best of the industry, outperforming 92.39% of the companies in the same industry.
  • A Quick Ratio of 6.51 indicates that FCEL has no problem at all paying its short term obligations.
  • FCEL's Quick ratio of 6.51 is amongst the best of the industry. FCEL outperforms 91.30% of its industry peers.
Industry RankSector Rank
Current Ratio 7.96
Quick Ratio 6.51
FCEL Yearly Current Assets VS Current LiabilitesFCEL Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 100M 200M 300M 400M 500M

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

7

3. FCEL Growth Analysis

3.1 Past

  • The Earnings Per Share has grown by an impressive 43.74% over the past year.
  • Looking at the last year, FCEL shows a very strong growth in Revenue. The Revenue has grown by 48.29%.
  • Measured over the past years, FCEL shows a quite strong growth in Revenue. The Revenue has been growing by 17.41% on average per year.
EPS 1Y (TTM)43.74%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%61.48%
Revenue 1Y (TTM)48.29%
Revenue growth 3Y6.62%
Revenue growth 5Y17.41%
Sales Q2Q%60.71%

3.2 Future

  • The Earnings Per Share is expected to grow by 21.84% on average over the next years. This is a very strong growth
  • FCEL is expected to show a strong growth in Revenue. In the coming years, the Revenue will grow by 32.15% yearly.
EPS Next Y58.77%
EPS Next 2Y27.91%
EPS Next 3Y21.84%
EPS Next 5YN/A
Revenue Next Year9.87%
Revenue Next 2Y25.11%
Revenue Next 3Y34.38%
Revenue Next 5Y32.15%

3.3 Evolution

  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
FCEL Yearly Revenue VS EstimatesFCEL Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 200M 400M 600M
FCEL Yearly EPS VS EstimatesFCEL Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 -200 -400 -600

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1

4. FCEL Valuation Analysis

4.1 Price/Earnings Ratio

  • FCEL reported negative earnings for the last year, which makes the Price/Earnings Ratio negative.
  • Also next year FCEL is expected to report negative earnings again, which makes the also the Forward Price/Earnings Ratio negative.
Industry RankSector Rank
PE N/A
Fwd PE N/A
FCEL Price Earnings VS Forward Price EarningsFCEL Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 20 40 60

4.2 Price Multiples

Industry RankSector Rank
P/FCF N/A
EV/EBITDA N/A
FCEL Per share dataFCEL EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 5 10

4.3 Compensation for Growth

  • FCEL's earnings are expected to grow with 21.84% in the coming years. This may justify a more expensive valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y27.91%
EPS Next 3Y21.84%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

0

5. FCEL Dividend Analysis

5.1 Amount

  • FCEL does not give a dividend.
Industry RankSector Rank
Dividend Yield 0%

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FCEL Fundamentals: All Metrics, Ratios and Statistics

FUELCELL ENERGY INC

NASDAQ:FCEL (5/1/2026, 1:56:55 PM)

13.26

+0.26 (+2%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCapital Goods
GICS IndustryElectrical Equipment
Industry Strength80.12
Industry Growth68.94
Earnings (Last)03-09
Earnings (Next)06-04
Inst Owners41.7%
Inst Owner Change-0.44%
Ins Owners0.21%
Ins Owner Change6.88%
Market Cap702.51M
Revenue(TTM)169.70M
Net Income(TTM)-185.63M
Analysts49.23
Price Target8.41 (-36.58%)
Short Float %7.39%
Short Ratio1.57
Dividend
Industry RankSector Rank
Dividend Yield 0%
Yearly Dividend0.1
Dividend Growth(5Y)29.47%
DP-1.72%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)22.69%
Min EPS beat(2)22.05%
Max EPS beat(2)23.33%
EPS beat(4)3
Avg EPS beat(4)10.86%
Min EPS beat(4)-22.46%
Max EPS beat(4)23.33%
EPS beat(8)6
Avg EPS beat(8)6.99%
EPS beat(12)9
Avg EPS beat(12)9.93%
EPS beat(16)10
Avg EPS beat(16)0.58%
Revenue beat(2)1
Avg Revenue beat(2)-4.29%
Min Revenue beat(2)-29.11%
Max Revenue beat(2)20.52%
Revenue beat(4)2
Avg Revenue beat(4)-0.14%
Min Revenue beat(4)-29.11%
Max Revenue beat(4)20.52%
Revenue beat(8)5
Avg Revenue beat(8)-2.15%
Revenue beat(12)6
Avg Revenue beat(12)-1.94%
Revenue beat(16)8
Avg Revenue beat(16)-2.43%
PT rev (1m)-5.36%
PT rev (3m)2.38%
EPS NQ rev (1m)0%
EPS NQ rev (3m)12.61%
EPS NY rev (1m)12.43%
EPS NY rev (3m)12.43%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-2.6%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-11.89%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE N/A
P/S 4.14
P/FCF N/A
P/OCF N/A
P/B 0.93
P/tB 0.94
EV/EBITDA N/A
EPS(TTM)-4.27
EYN/A
EPS(NY)-1.86
Fwd EYN/A
FCF(TTM)-2.49
FCFYN/A
OCF(TTM)-2.14
OCFYN/A
SpS3.2
BVpS14.25
TBVpS14.18
PEG (NY)N/A
PEG (5Y)N/A
Graham Number0 (-100%)
Profitability
Industry RankSector Rank
ROA -18.97%
ROE -24.6%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) N/A
GM N/A
FCFM N/A
ROA(3y)-15.26%
ROA(5y)-14.64%
ROE(3y)-19.8%
ROE(5y)-18.77%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexgc growth 3YN/A
ROICexgc growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
F-Score5
Asset Turnover0.17
Health
Industry RankSector Rank
Debt/Equity 0.16
Debt/FCF N/A
Debt/EBITDA N/A
Cap/Depr 44.3%
Cap/Sales 10.7%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio 7.96
Quick Ratio 6.51
Altman-Z -0.49
F-Score5
WACC8.37%
ROIC/WACCN/A
Cap/Depr(3y)587.67%
Cap/Depr(5y)470.18%
Cap/Sales(3y)128.2%
Cap/Sales(5y)105.11%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)43.74%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%61.48%
EPS Next Y58.77%
EPS Next 2Y27.91%
EPS Next 3Y21.84%
EPS Next 5YN/A
Revenue 1Y (TTM)48.29%
Revenue growth 3Y6.62%
Revenue growth 5Y17.41%
Sales Q2Q%60.71%
Revenue Next Year9.87%
Revenue Next 2Y25.11%
Revenue Next 3Y34.38%
Revenue Next 5Y32.15%
EBIT growth 1Y19.91%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year39.81%
EBIT Next 3Y28.63%
EBIT Next 5Y28.3%
FCF growth 1Y75.83%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y21.79%
OCF growth 3YN/A
OCF growth 5YN/A

FUELCELL ENERGY INC / FCEL Fundamental Analysis FAQ

What is the fundamental rating for FCEL stock?

ChartMill assigns a fundamental rating of 3 / 10 to FCEL.


Can you provide the valuation status for FUELCELL ENERGY INC?

ChartMill assigns a valuation rating of 1 / 10 to FUELCELL ENERGY INC (FCEL). This can be considered as Overvalued.


What is the profitability of FCEL stock?

FUELCELL ENERGY INC (FCEL) has a profitability rating of 1 / 10.


What is the financial health of FUELCELL ENERGY INC (FCEL) stock?

The financial health rating of FUELCELL ENERGY INC (FCEL) is 5 / 10.