FuelCell Energy FCEL Ratios & Valuation
| Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | ||
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | -18.2%-2.3pp | -15.9%+0.8pp | -16.7%+3.4pp | -20.1%+4.4pp | -24.5%+1.1pp | |
| Operating margin | -135.7%-26.3pp | -109.5%+12.1pp | -121.6%+12.9pp | -134.5%-23.8pp | -110.7%+19.4pp | |
| Net margin | -132.4%-24.9pp | -107.5%+11.3pp | -118.8%+12.0pp | -130.8%-22.3pp | -108.5%+9.0pp | |
| EBITDA margin | -111.4%-26.0pp | -85.3%+10.7pp | -96.1%+12.6pp | -108.7%-28.0pp | -80.7%+16.6pp | |
| Free cash flow margin | -71.3%+2.9pp | -74.2%+16.8pp | -91%-9.2pp | -81.8%+49.1pp | -130.9%+30.4pp | |
| Returns | ||||||
| Return on equity | -33.5%-6.0pp | -27.4%+1.1pp | -28.5%+3.9pp | -32.4%-9.9pp | -22.5%-1.8pp | |
| Return on assets | -23.6%-4.2pp | -19.3%+0.7pp | -20%+2.4pp | -22.4%-6.8pp | -15.6%-0.9pp | |
| Return on invested capital | -50.9%-12.9pp | -38%+2.6pp | -40.6%+2.6pp | -43.2%-15.2pp | -28.1%+3.3pp | |
| Efficiency | ||||||
| Asset turnover | 0.2×0.0× | 0.2×0.0× | 0.2×0.0× | 0.2×0.0× | 0.1×0.0× | |
| Inventory turnover | 4.4×-77.2× | 81.6×+19.6× | 61.9×-4.8× | 66.8×+8.0× | 58.8×+6.3× | |
| Liquidity | ||||||
| Current ratio | 8.6×+0.6× | 8×+1.3× | 6.6×+1.3× | 5.4×-0.3× | 5.6×-0.7× | |
| Quick ratio | 7.2×-0.7× | 7.9×+1.3× | 6.6×+1.3× | 5.3×-0.3× | 5.6×-0.7× | |
| Cash ratio | 5.9×+0.9× | 5×+0.9× | 4.1×+1.6× | 2.5×+0.8× | 1.7×+0.2× | |
| Leverage | ||||||
| Debt-to-equity | 0×0.0× | 0×0.0× | 0×0.0× | 0.1×0.0× | 0×0.0× | |
| Debt-to-assets | 0×0.0× | 0×0.0× | 0×0.0× | 0×0.0× | 0×0.0× | |
| Interest coverage | -21×-3.4× | -17.6×+0.9× | -18.5×+1.5× | -20.1×-6.0× | -14×+0.9× | |
| Per Share | ||||||
| Book value per share | $13.27-8.0% | $14.41-44.0% | $25.72+13.0% | $22.76-18.8% | $28.02-9.6% | |
| Valuation | ||||||
| Market capitalization | $1.46B+973% | $390.96M+35.3% | $289.04M+156% | $113.04M+38.9% | $81.4M-48.2% | |
| Enterprise value | $1.11B+2,320% | $109.81M+177% | $39.68M+222% | -$32.4M-287% | -$8.37M-110% | |
| Price / sales | 8.7×+7.6× | 2.3×+0.5× | 1.8×+1.1× | 0.7×+0.1× | 0.6×-0.7× | |
| Price / book | 2×+1.8× | 0.6×+0.1× | 0.4×+0.2× | 0.2×+0.1× | 0.1×-0.1× | |
| EV / sales | 6.6×+6.3× | 0.6×+0.4× | 0.3×+0.5× | -0.2×-0.1× | -0.1×-0.8× | |
| Free cash flow yield | -8.2%+117pp | -32.2%+17.6pp | -49.8%+60.5pp | -110.3%+97.8pp | -208.1%-90.6pp | |
| Earnings yield | -15.3%+88.1pp | -46.7%+18.3pp | -65%+111pp | -176.4%-3.9pp | -172.5%-86.9pp |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →Questions, answered.
- What are FuelCell Energy's profit margins?
- FuelCell Energy (FCEL) runs a -18.2% gross margin and a -135.7% operating margin, with a -132.4% 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.
