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FuelCell Energy FCEL Electricity Generation — Revenue Remaining Performance Obligation

Other product segments

Service
$155.4M-5.5%
Advanced Technologies
$4.9M-38.0%

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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$1.63B+1,661%
Enterprise value$1.29B-2,549%
P/S9.7×+9.1×

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×
Current ratio8.6×+3.0×

Where this comes from

Reported directly by FuelCell Energy in its filing.

Tagged under the XBRL concept us-gaap:RevenueRemainingPerformanceObligation.

The source filing: FuelCell Energy’s 10-Q, filed June 8, 2026.

Filed
Jun 8, 2026, 7:40 AM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001104659-26-071183

Remaining performance obligations are the aggregate amount of total contract transaction price that is unsatisfied or partially unsatisfied. As of April 30, 2026, the Company’s total remaining performance obligations were: $155.4 million for service agreements (expected to be recognized as revenue over approximately three to fifteen years which is based on the remaining term of the service agreements), $370.3 million for generation power purchase agreements (“PPAs”) (expected to be recognized as revenue over approximately nineteen to twenty years based on the PPA terms remaining), $4.9 million for Advanced Technologies contracts (expected to be recognized within approximately two years) and $36.1 million for product purchase agreements (expected to be recognized within the next two fiscal years).

ITEM 1. FINANCIAL STATEMENTS

FAQ

What is FuelCell Energy's electricity generation — revenue remaining performance obligation?
FuelCell Energy (FCEL) reported electricity generation — revenue remaining performance obligation of $370.3M in Q1 2026.
How has FuelCell Energy's electricity generation — revenue remaining performance obligation changed year-over-year?
FuelCell Energy's electricity generation — revenue remaining performance obligation decreased by 3.3% year-over-year, from $383M to $370.3M.
What does electricity generation — revenue remaining performance obligation mean?
This metric represents the total transaction price allocated to performance obligations that are unsatisfied or partially unsatisfied at the end of the reporting period for electricity generation contracts. It provides visibility into future contracted revenue streams and the long-term stability of the energy generation segment. Investors use this to gauge the backlog of committed energy services and the predictability of future cash flows.

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