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FUELCELL ENERGY INC (FCEL) Stock Fundamental Analysis

USA - NASDAQ:FCEL - US35952H7008 - Common Stock

7.04 USD
-0.67 (-8.69%)
Last: 11/13/2025, 4:14:42 PM
7.15 USD
+0.11 (+1.56%)
After Hours: 11/13/2025, 4:14:42 PM
Fundamental Rating

3

Taking everything into account, FCEL scores 3 out of 10 in our fundamental rating. FCEL was compared to 91 industry peers in the Electrical Equipment industry. FCEL scores quite bad on profitability, while its financial health is fine. Not spectacular, but in line with the averages. FCEL is valied quite expensively at the moment, while it does show a decent growth rate.


Dividend Valuation Growth Profitability Health

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1

1. Profitability

1.1 Basic Checks

FCEL had negative earnings in the past year.
FCEL had a negative operating cash flow in the past year.
FCEL had negative earnings in each of the past 5 years.
FCEL had a negative operating cash flow in each of the past 5 years.
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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 -100M -200M -300M -400M -500M

1.2 Ratios

Looking at the Return On Assets, with a value of -24.40%, FCEL is in line with its industry, outperforming 42.86% of the companies in the same industry.
With a Return On Equity value of -32.90%, FCEL perfoms like the industry average, outperforming 54.95% of the companies in the same industry.
Industry RankSector Rank
ROA -24.4%
ROE -32.9%
ROIC N/A
ROA(3y)-13.6%
ROA(5y)-14.07%
ROE(3y)-17.52%
ROE(5y)-20.74%
ROIC(3y)N/A
ROIC(5y)N/A
FCEL Yearly ROA, ROE, ROICFCEL Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 -20 -40 -60

1.3 Margins

The Profit Margin and Operating Margin and Gross Margin are not available for FCEL so they could not be analyzed.
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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 -50 -100 -150

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5

2. Health

2.1 Basic Checks

FCEL does not have a ROIC to compare to the WACC, probably because it is not profitable.
Compared to 1 year ago, FCEL has more shares outstanding
FCEL has less shares outstanding than it did 5 years ago.
Compared to 1 year ago, FCEL has a worse debt to assets ratio.
FCEL Yearly Shares OutstandingFCEL Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M 400M
FCEL Yearly Total Debt VS Total AssetsFCEL Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M

2.2 Solvency

FCEL has an Altman-Z score of -2.24. This is a bad value and indicates that FCEL is not financially healthy and even has some risk of bankruptcy.
With a Altman-Z score value of -2.24, FCEL is not doing good in the industry: 69.23% of the companies in the same industry are doing better.
FCEL has a Debt/Equity ratio of 0.17. This is a healthy value indicating a solid balance between debt and equity.
FCEL has a better Debt to Equity ratio (0.17) than 65.93% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.17
Debt/FCF N/A
Altman-Z -2.24
ROIC/WACCN/A
WACC7.26%
FCEL Yearly LT Debt VS Equity VS FCFFCEL Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 200M -200M 400M -400M 600M

2.3 Liquidity

A Current Ratio of 5.37 indicates that FCEL has no problem at all paying its short term obligations.
FCEL has a Current ratio of 5.37. This is amongst the best in the industry. FCEL outperforms 87.91% of its industry peers.
A Quick Ratio of 3.85 indicates that FCEL has no problem at all paying its short term obligations.
With an excellent Quick ratio value of 3.85, FCEL belongs to the best of the industry, outperforming 87.91% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 5.37
Quick Ratio 3.85
FCEL Yearly Current Assets VS Current LiabilitesFCEL Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M 400M 500M

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6

3. Growth

3.1 Past

FCEL shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -46.53%.
FCEL shows a strong growth in Revenue. In the last year, the Revenue has grown by 78.82%.
Measured over the past years, FCEL shows a quite strong growth in Revenue. The Revenue has been growing by 13.02% on average per year.
EPS 1Y (TTM)-46.53%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%45.24%
Revenue 1Y (TTM)78.82%
Revenue growth 3Y17.23%
Revenue growth 5Y13.02%
Sales Q2Q%97.27%

3.2 Future

The Earnings Per Share is expected to grow by 16.78% on average over the next years. This is quite good.
FCEL is expected to show a strong growth in Revenue. In the coming years, the Revenue will grow by 36.68% yearly.
EPS Next Y2.57%
EPS Next 2Y19.75%
EPS Next 3Y16.78%
EPS Next 5YN/A
Revenue Next Year44.34%
Revenue Next 2Y34.67%
Revenue Next 3Y35.95%
Revenue Next 5Y36.68%

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 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 200M 400M 600M 800M 1B
FCEL Yearly EPS VS EstimatesFCEL Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 -200 -400 -600

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0

4. Valuation

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 10 20 30

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 -5 10 15

4.3 Compensation for Growth

FCEL's earnings are expected to grow with 16.78% in the coming years. This may justify a more expensive valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y19.75%
EPS Next 3Y16.78%

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0

5. Dividend

5.1 Amount

FCEL does not give a dividend.
Industry RankSector Rank
Dividend Yield N/A

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FUELCELL ENERGY INC

NASDAQ:FCEL (11/13/2025, 4:14:42 PM)

After market: 7.15 +0.11 (+1.56%)

7.04

-0.67 (-8.69%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCapital Goods
GICS IndustryElectrical Equipment
Earnings (Last)09-09 2025-09-09/bmo
Earnings (Next)12-17 2025-12-17/amc
Inst Owners15.87%
Inst Owner Change0.2%
Ins Owners0.22%
Ins Owner Change0%
Market Cap227.39M
Revenue(TTM)152.47M
Net Income(TTM)-202.65M
Analysts49.23
Price Target8 (13.64%)
Short Float %6.2%
Short Ratio0.52
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly Dividend0.18
Dividend Growth(5Y)58.12%
DP-1.58%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-0.97%
Min EPS beat(2)-22.46%
Max EPS beat(2)20.53%
EPS beat(4)2
Avg EPS beat(4)-1.04%
Min EPS beat(4)-22.46%
Max EPS beat(4)20.53%
EPS beat(8)6
Avg EPS beat(8)8.39%
EPS beat(12)8
Avg EPS beat(12)3.9%
EPS beat(16)9
Avg EPS beat(16)-6.71%
Revenue beat(2)1
Avg Revenue beat(2)4.01%
Min Revenue beat(2)-5.12%
Max Revenue beat(2)13.14%
Revenue beat(4)2
Avg Revenue beat(4)-3.57%
Min Revenue beat(4)-44.06%
Max Revenue beat(4)21.76%
Revenue beat(8)4
Avg Revenue beat(8)-6.56%
Revenue beat(12)6
Avg Revenue beat(12)0.2%
Revenue beat(16)8
Avg Revenue beat(16)-3.2%
PT rev (1m)0%
PT rev (3m)6.21%
EPS NQ rev (1m)4.39%
EPS NQ rev (3m)12.92%
EPS NY rev (1m)-8.97%
EPS NY rev (3m)-2.16%
Revenue NQ rev (1m)1.12%
Revenue NQ rev (3m)-5.2%
Revenue NY rev (1m)0.71%
Revenue NY rev (3m)-4.14%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE N/A
P/S 1.49
P/FCF N/A
P/OCF N/A
P/B 0.37
P/tB 0.37
EV/EBITDA N/A
EPS(TTM)-6.33
EYN/A
EPS(NY)-3.56
Fwd EYN/A
FCF(TTM)-3.98
FCFYN/A
OCF(TTM)-2.99
OCFYN/A
SpS4.72
BVpS19.07
TBVpS18.94
PEG (NY)N/A
PEG (5Y)N/A
Graham NumberN/A
Profitability
Industry RankSector Rank
ROA -24.4%
ROE -32.9%
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)-13.6%
ROA(5y)-14.07%
ROE(3y)-17.52%
ROE(5y)-20.74%
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-Score3
Asset Turnover0.18
Health
Industry RankSector Rank
Debt/Equity 0.17
Debt/FCF N/A
Debt/EBITDA N/A
Cap/Depr 81.35%
Cap/Sales 21.01%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio 5.37
Quick Ratio 3.85
Altman-Z -2.24
F-Score3
WACC7.26%
ROIC/WACCN/A
Cap/Depr(3y)642.18%
Cap/Depr(5y)492.58%
Cap/Sales(3y)135.37%
Cap/Sales(5y)111.44%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-46.53%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%45.24%
EPS Next Y2.57%
EPS Next 2Y19.75%
EPS Next 3Y16.78%
EPS Next 5YN/A
Revenue 1Y (TTM)78.82%
Revenue growth 3Y17.23%
Revenue growth 5Y13.02%
Sales Q2Q%97.27%
Revenue Next Year44.34%
Revenue Next 2Y34.67%
Revenue Next 3Y35.95%
Revenue Next 5Y36.68%
EBIT growth 1Y13.42%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year55.39%
EBIT Next 3Y23.44%
EBIT Next 5Y18.87%
FCF growth 1Y41.31%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y34.96%
OCF growth 3YN/A
OCF growth 5YN/A

FUELCELL ENERGY INC / FCEL FAQ

What is the fundamental rating for FCEL stock?

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


What is the valuation status of FUELCELL ENERGY INC (FCEL) stock?

ChartMill assigns a valuation rating of 0 / 10 to FUELCELL ENERGY INC (FCEL). This can be considered as Overvalued.


Can you provide the profitability details for FUELCELL ENERGY INC?

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


What is the earnings growth outlook for FUELCELL ENERGY INC?

The Earnings per Share (EPS) of FUELCELL ENERGY INC (FCEL) is expected to grow by 2.57% in the next year.


Is the dividend of FUELCELL ENERGY INC sustainable?

The dividend rating of FUELCELL ENERGY INC (FCEL) is 0 / 10 and the dividend payout ratio is -1.58%.