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FUELCELL ENERGY INC (FCEL) Stock Fundamental Analysis

USA - Nasdaq - NASDAQ:FCEL - US35952H7008 - Common Stock

6.41 USD
-0.3 (-4.47%)
Last: 12/1/2025, 4:08:24 PM
6.5 USD
+0.09 (+1.4%)
After Hours: 12/1/2025, 4:08:24 PM
Fundamental Rating

3

We assign a fundamental rating of 3 out of 10 to FCEL. FCEL was compared to 90 industry peers in the Electrical Equipment industry. The financial health of FCEL is average, but there are quite some concerns on its profitability. While showing a medium growth rate, FCEL is valued expensive at the moment.


Dividend Valuation Growth Profitability Health

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0

1. Profitability

1.1 Basic Checks

FCEL had negative earnings in the past year.
In the past year FCEL has reported a negative cash flow from operations.
In the past 5 years FCEL always reported negative net income.
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

FCEL has a worse Return On Assets (-24.40%) than 60.00% of its industry peers.
The Return On Equity of FCEL (-32.90%) is comparable to the rest of the 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
The number of shares outstanding for FCEL has been reduced compared to 5 years ago.
FCEL has a worse debt/assets ratio than last year.
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 -2.04. This is a bad value and indicates that FCEL is not financially healthy and even has some risk of bankruptcy.
FCEL has a Altman-Z score of -2.04. This is in the lower half of the industry: FCEL underperforms 72.22% of its industry peers.
A Debt/Equity ratio of 0.17 indicates that FCEL is not too dependend on debt financing.
FCEL has a better Debt to Equity ratio (0.17) than 65.56% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.17
Debt/FCF N/A
Altman-Z -2.04
ROIC/WACCN/A
WACC7.42%
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

FCEL has a Current Ratio of 5.37. This indicates that FCEL is financially healthy and has no problem in meeting its short term obligations.
FCEL's Current ratio of 5.37 is amongst the best of the industry. FCEL outperforms 87.78% of its industry peers.
FCEL has a Quick Ratio of 3.85. This indicates that FCEL is financially healthy and has no problem in meeting its short term obligations.
Looking at the Quick ratio, with a value of 3.85, FCEL belongs to the top of the industry, outperforming 87.78% 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%.
Looking at the last year, FCEL shows a very strong growth in Revenue. The Revenue has grown by 78.82%.
The Revenue has been growing by 13.02% on average over the past years. This is quite good.
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

Based on estimates for the next years, FCEL will show a quite strong growth in Earnings Per Share. The EPS will grow by 16.78% on average per year.
Based on estimates for the next years, FCEL will show a very strong growth in Revenue. The Revenue will grow by 36.68% on average per year.
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

The Price/Earnings Ratio is negative for FCEL. In the last year negative earnings were reported.
Besides the negative Price/Earnings Ratio, also the Forward Price/Earnings Ratio is negative for FCEL. No positive earnings are expected for the next year.
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

4.3 Compensation for Growth

A more expensive valuation may be justified as FCEL's earnings are expected to grow with 16.78% in the coming years.
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 (12/1/2025, 4:08:24 PM)

After market: 6.5 +0.09 (+1.4%)

6.41

-0.3 (-4.47%)

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 Change129%
Ins Owners0.22%
Ins Owner Change0%
Market Cap305.63M
Revenue(TTM)152.47M
Net Income(TTM)-202.65M
Analysts49.23
Price Target8 (24.8%)
Short Float %5.9%
Short Ratio0.41
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)5.61%
EPS NQ rev (3m)17.8%
EPS NY rev (1m)7.62%
EPS NY rev (3m)-2.19%
Revenue NQ rev (1m)-0.32%
Revenue NQ rev (3m)-5.5%
Revenue NY rev (1m)-0.13%
Revenue NY rev (3m)-4.14%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE N/A
P/S 2
P/FCF N/A
P/OCF N/A
P/B 0.5
P/tB 0.5
EV/EBITDA N/A
EPS(TTM)-6.33
EYN/A
EPS(NY)-3.56
Fwd EYN/A
FCF(TTM)-2.7
FCFYN/A
OCF(TTM)-2.03
OCFYN/A
SpS3.2
BVpS12.92
TBVpS12.83
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 -2.04
F-Score3
WACC7.42%
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 0 / 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%.