Company research / FCEL

FuelCell Energy Inc (FCEL)

Also trades as FCELB. Every security a company lists rests on one set of financial statements, so these figures cover the whole company.

SEC name FUELCELL ENERGY INC · CIK 0000886128 · Nasdaq · Electrical Industrial Apparatus

  • Sector Manufacturing
  • Incorporated DE
  • Fiscal year ends Oct 31

For the year ended 2025-10-31, FuelCell Energy Inc reported revenue of $158.16M. Revenue grew 41.0% from the prior annual period. Over the twelve months to 2026-07-31, revenue was $154.14M.

Key ratios (year ended 2025-10-31)

-16.7%
Gross margin (computed)
-121.6%
Operating margin
-118.8%
Net margin
-28.0%
Return on year-end equity
41.0%
Revenue growth (YoY)

Computed by TickerFacts from revenue minus cost of revenue. This may differ from the issuer's reported gross profit or margin; check the revenue and cost definitions.

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Latest selected filing: Form 4 (ownership change) · 2026-10-19

Headquarters locality: Danbury · View on map

Annual financials

Annual flows and balances are grouped by their actual period end. Select a figure to open its SEC filing. n/a means a matching observation is unavailable. Free cash flow is operating cash flow minus capital expenditures, and EBITDA is operating income plus depreciation and amortization, for the same period, computed by TickerFacts.

The first column covers the twelve months to 2026-07-31 from the latest quarterly report: flows are the last fiscal year plus this year to date minus the same months a year earlier, and balances are as of that date. Per-share figures are annual only.

Stock splits: 1-for-12, first reflected in a filing dated 2016-01-08; 1-for-12, first reflected in a filing dated 2019-06-17; 1-for-30, first reflected in a filing dated 2024-12-27. Figures are as filed: per-share figures and share counts last reported before a split are on the old share basis, so changes and growth rates across a split are not shown. Splits are read from the filings' own restatements, so a share conversion in a merger or reorganization shows up the same way.

Period endedTTM to
2026-07-31
2025-10-312024-10-312023-10-312022-10-312021-10-312020-10-312019-10-312018-10-312017-10-312016-10-31
Revenue$154.14M$158.16M$112.13M$123.39M$130.48M$69.58M$70.87M$60.75M$89.44M$95.67M$108.25M
Cost of Revenue$204.06M$184.57M$148.05M$133.93M$160.06M$85.22M$78.60M$82.02M$86.34M$92.93M$108.61M
Gross Profit-$49.92M-$26.41M-$35.92M-$10.54M-$29.57M-$15.64M-$7.72M-$21.27M$3.09M$2.73M-$357.0K
R&D Expense$28.64M$34.08M$55.40M$61.02M$34.53M$11.31M$4.80M$13.79M$22.82M$20.40M$20.85M
Operating Income-$179.19M-$192.35M-$158.49M-$136.08M-$143.72M-$64.90M-$39.17M-$66.93M-$44.63M-$44.94M-$46.35M
Depreciation & Amortization$40.56M$40.40M$36.19M$25.38M$21.27M$19.87M$19.38M$12.35M$8.65Mn/an/a
EBITDA-$138.62M-$151.95M-$122.30M-$110.71M-$122.45M-$45.03M-$19.79M-$54.58M-$35.98Mn/an/a
Net Income-$175.10M-$187.90M-$126.01M-$107.57M-$142.72M-$101.06M-$89.11M-$77.57M-$47.33M-$53.90M-$50.96M
EPS (Diluted)n/a-$7.42-$7.83-$7.92-$11.43-$0.31-$0.42-$1.82-$9.01-$13.73-$1.82
Total Assets$1.31B$932.15M$944.12M$955.52M$939.72M$875.25M$523.54M$333.45M$340.42M$383.79M$340.73M
Total Liabilities$268.41M$201.00M$216.66M$195.22M$185.33M$169.92M$269.13M$197.85M$163.50M$194.97M$166.48M
Shareholders' Equity$982.90M$671.28M$667.61M$700.45M$691.50M$642.44M$194.55M$75.74M$82.19M$101.26M$114.40M
Cash & Equivalents$658.08M$278.10M$148.13M$249.95M$458.06M$432.21M$149.87M$9.43M$39.29M$49.29M$84.19M
Operating Cash Flow-$96.30M-$125.29M-$152.91M-$140.25M-$112.17M-$70.44M-$36.78M-$30.57M$16.32M-$71.84M-$46.59M
Capital Expenditures$4.81M$18.60M$47.72M$39.35M$21.08M$6.35M$382.0K$2.15M$10.03M$12.35M$7.73M
Free Cash Flow-$101.11M-$143.89M-$200.63M-$179.60M-$133.25M-$76.79M-$37.16M-$32.72M$6.29M-$84.20M-$54.32M
Shares Outstanding79.95M46.08M20.38M15.02M405.56M366.62M294.71M193.61M7.97M69.49M35.17M
Weighted Average Diluted Sharesn/a25.74M16.51M13.99M12.77M334.74M221.96M55.08M6.90M4.16M29.77M
EPS (Basic)n/a-$7.42-$7.83-$7.92-$11.43-$0.31-$0.42-$1.82-$9.01-$13.73-$1.82

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