What is FuelCell Energy's EV / sales?

FuelCell Energy (FCEL) reported EV / sales of 2.1× in Q1 2026.

How has FuelCell Energy's EV / sales changed year-over-year?

FuelCell Energy's EV / sales increased by 3282.7% year-over-year, from -0.1× to 2.1×.

What is the long-term trend for FuelCell Energy's EV / sales?

Over 5 years (2020 to 2025), FuelCell Energy's EV / sales has grown at a -50.8% compound annual growth rate (CAGR), from 8.7× to 0.3×.

What does EV / sales mean?

Enterprise value at the quarter end divided by trailing-twelve-month revenue. A capital-structure-neutral revenue multiple, useful when earnings are negative.

FuelCell Energy FCEL EV / sales

EV / sales at other companies

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4.3×+2.2×

Bloom EnergyBE

15.6×+12.4×

ArganAGX

4.7×+2.8×

Chart IndustriesGTLS

3.3×+0.9×

Generac HoldingsGNRC

2.9×+0.9×

GE VernovaGEV

5.7×+3.6×

Other financials

Income statement

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Revenue$35.6M-4.9%

Gross profit-$12.9M-37.0%

Operating income-$77.9M-118%

Net income-$77.9M-105%

EPS (diluted)-$1.45+19.0%

Balance sheet

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Cash & equivalents$373.2M+222%

Total debt$30.2M+14.7%

Total equity$719.4M+18.1%

Total assets$1.0B+13.5%

Cash flow

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Operating cash flow-$27.3M+8.7%

CapEx$1.7M-67.7%

Free cash flow-$29.0M+17.5%

Valuation

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Market cap$1.46B+973%

Enterprise value$1.11B+2,320%

P/S8.7×+7.6×

Profitability

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Gross margin-18.2%-3.7pp

Operating margin-135.7%+39.6pp

Net margin-132.4%+37.4pp

FCF margin-71.3%-22.3pp

Returns & leverage

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Return on equity-33.5%+31.9pp

Debt / equity0×0.0×

Current ratio8.6×+3.0×

Where this comes from

Calculated from FuelCell Energy’s reported figures.

enterprise value/total revenue=2.1×

Based on the most recent quarter.

The official record: FuelCell Energy’s 10-Q, filed June 8, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is FuelCell Energy's EV / sales?: FuelCell Energy (FCEL) reported EV / sales of 2.1× in Q1 2026.
How has FuelCell Energy's EV / sales changed year-over-year?: FuelCell Energy's EV / sales increased by 3282.7% year-over-year, from -0.1× to 2.1×.
What is the long-term trend for FuelCell Energy's EV / sales?: Over 5 years (2020 to 2025), FuelCell Energy's EV / sales has grown at a -50.8% compound annual growth rate (CAGR), from 8.7× to 0.3×.
What does EV / sales mean?: Enterprise value at the quarter end divided by trailing-twelve-month revenue. A capital-structure-neutral revenue multiple, useful when earnings are negative.