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FuelCell Energy FCEL Ratios & Valuation

Q3 '26Q2 '26Q1 '26Q4 '25Q3 '25
Profitability
Gross margin-32.4%-12.3pp-18.2%+6.3pp-15.9%+9.7pp-16.7%+15.3pp-20.1%+10.9pp
Operating margin-116.3%+18.2pp-135.7%-25.0pp-109.5%+20.6pp-121.6%+19.7pp-134.5%+45.9pp
Net margin-113.6%+17.2pp-132.4%-23.9pp-107.5%+10.1pp-118.8%-6.4pp-130.8%+4.0pp
Returns
Return on equity-22.9%+9.5pp-33.5%-11.0pp-27.4%-6.7pp-28.5%-9.7pp-32.4%-15.7pp
Return on invested capital-47.2%-4.0pp-50.9%-22.8pp-38%-6.7pp-40.6%-8.5pp-43.2%-11.0pp
Efficiency
Asset turnover0.1×0.0×0.2×0.0×0.2×+0.1×0.2×+0.1×0.2×+0.1×
Liquidity
Current ratio8.7×+3.3×8.6×+3.0×8×+1.6×6.6×+0.6×5.4×-1.5×
Leverage
Debt-to-equity0×0.0×0×0.0×0×0.0×0×0.0×0.1×0.0×
Per Share
Book value per share$13.85-39.1%$13.27-52.7%$14.41-53.5%$25.72-35.4%$22.76-43.5%
Valuation
Market capitalization$1.32B+373%$688.71M+746%$390.96M+149%$289.04M+51.1%$113.04M-55.1%
Price / sales8.6×+6.8×4.1×+3.5×2.3×+0.9×1.8×+0.1×0.7×-2.2×
Price / book1.4×+0.9×1×+0.8×0.6×+0.3×0.4×+0.1×0.2×-0.2×

FAQ

What are FuelCell Energy's profit margins?
FuelCell Energy (FCEL) runs a -32.4% gross margin and a -116.3% operating margin, with a -113.6% net margin.
Where do FuelCell Energy's ratios come from?
Every ratio is computed from FuelCell Energy's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.