FCEL

Company Overview — What Does FUELCELL ENERGY INC Do?

FuelCell Energy, Inc., together with its subsidiaries, designs, manufactures, sells, installs, operates, and services stationary fuel cell power plants for distributed baseload power generation. It offers SureSource1500, a 1.4-megawatt (MW) platform; SureSource 3000, a 2.8 MW platform; SureSource 4000, a 3.7 MW platform; SureSource 250, a 250- kilowatt (kW) platform; SureSource 400, a 400-kW platform; and SureSource Hydrogen, a 2.3 MW platform that is designed to produce up to 1,200 kilograms of hydrogen per day for multi-megawatt utility, microgrid, and distributed hydrogen applications, as well as on-site heat and chilling applications. It also provides SureSource Capture system that separates and concentrates carbon dioxide from the flue gases of natural gas, biomass, or coal-fired power plants, as well as industrial facilities; solid oxide fuel cell/solid oxide electrolysis cell stack technology. The company's SureSource power plants generate clean electricity, usable heat, water, and hydrogen. In addition, it provides engineering, procurement, and construction services; project financing services; and real-time monitoring and remote operation, online support system, preventative maintenance, parts and supplies, on-site and classroom training, and power plant refurbishment/recycling services, as well as technical services in the areas of plant operation and performance, and fuel processing. It serves various markets, including utilities and independent power producers, industrial and process applications, education and health care, data centers and communication, wastewater treatment, government, microgrids, food and beverage, and commercial and hospitality. The company primarily operates in the United States, South Korea, England, Germany, and Switzerland. FuelCell Energy, Inc. was founded in 1969 and is headquartered in Danbury, Connecticut. FUELCELL ENERGY INC (FCEL) is classified as a small-cap stock in the Industrials sector, specifically within the Electrical Equipment industry. The company is led by CEO Jason B. Few and employs approximately 510 people, headquartered in Wilmington, Connecticut. With a market capitalization of $342M, FCEL is one of the notable companies in the Industrials sector.

FUELCELL ENERGY INC (FCEL) Stock Rating — Avoid (April 2026)

As of April 2026, FUELCELL ENERGY INC receives a Avoid rating with a composite score of 33.1/100 and 1 out of 5 stars from the Blank Capital Research quantitative model.FCEL ranks #3,930 out of 4,446 stocks in our coverage universe. Within the Industrials sector, FUELCELL ENERGY INC ranks #674 of 752 stocks, placing it in the lower half of its Industrials peers. The rating is generated by a multi-factor model that weighs quality (30%), momentum (25%), value (15%), investment (10%), stability (10%), and short interest (10%).

FCEL Stock Price and 52-Week Range

FUELCELL ENERGY INC (FCEL) currently trades at $6.65. The stock gained $0.10 (1.5%) in the most recent trading session. The 52-week high for FCEL is $11.99, which means the stock is currently trading -44.5% from its annual peak. The 52-week low is $3.58, putting the stock 85.9% above its annual trough. Recent trading volume was 1.0M shares, reflecting moderate market activity.

Is FCEL Overvalued or Undervalued? — Valuation Analysis

FUELCELL ENERGY INC (FCEL) carries a value factor score of 25/100 in the Blank Capital model, signaling premium valuation that prices in significant future growth. The price-to-book ratio stands at 0.47x, versus the sector average of 2.23x. The price-to-sales ratio is 2.48x, compared to 0.50x for the average Industrials stock.

At current multiples, FUELCELL ENERGY INC trades at a premium to most Industrials peers. This elevated valuation may be justified if the company can sustain above-average growth rates and profitability, but it also creates downside risk if earnings disappoint expectations.

FUELCELL ENERGY INC Profitability — ROE, Margins, and Quality Score

FUELCELL ENERGY INC (FCEL) earns a quality factor score of 26/100, signaling below-average profitability metrics relative to the broader market. The return on equity (ROE) is -26.7%, compared to the Industrials sector average of 8.9%, which is below typical expectations for high-quality companies. Return on assets (ROA) comes in at -19.2% versus the sector average of 3.3%.

On a margin basis, FUELCELL ENERGY INC reports gross margins of -20.7%, compared to 35.8% for the sector. The operating margin is -139.7% (sector: 6.2%). Net profit margin stands at -138.3%, versus 3.9% for the average Industrials stock. Revenue growth is running at 28.8% on a trailing basis, compared to 6.4% for the sector. Profitability is below benchmark levels, which may reflect industry headwinds, elevated reinvestment, or structural challenges.

FCEL Debt, Balance Sheet, and Financial Health

FUELCELL ENERGY INC has a debt-to-equity ratio of 30.0%, compared to the Industrials sector average of 70.0%. The low leverage indicates a conservative balance sheet with significant financial flexibility. The current ratio is 7.96x, indicating strong short-term liquidity. Total debt on the balance sheet is $16M. Cash and equivalents stand at $278M.

FCEL has a beta of 1.42, meaning it is more volatile than the broader market — a $10,000 investment in FCEL would be expected to move 42.2% more than the S&P 500 on any given day. The stability factor score for FUELCELL ENERGY INC is 27/100, suggesting elevated price swings that may be unsuitable for conservative portfolios.

FUELCELL ENERGY INC Revenue and Earnings History — Quarterly Trend

In TTM 2026, FUELCELL ENERGY INC reported revenue of $134M and earnings per share (EPS) of $-0.49. Net income for the quarter was $-188M. Gross margin was -20.7%. Operating income came in at $-190M.

In Q1 2026, FUELCELL ENERGY INC reported revenue of $31M and earnings per share (EPS) of $-0.49. Net income for the quarter was $-26M. Gross margin was -19.2%. Revenue grew 60.7% year-over-year compared to Q1 2025. Operating income came in at $-26M.

In FY 2025, FUELCELL ENERGY INC reported revenue of $158M and earnings per share (EPS) of $-7.42. Net income for the quarter was $-191M. Gross margin was -16.7%. Revenue grew 41.0% year-over-year compared to FY 2024. Operating income came in at $-192M.

In Q3 2025, FUELCELL ENERGY INC reported revenue of $47M and earnings per share (EPS) of $-3.78. Net income for the quarter was $-92M. Gross margin was -11.0%. Revenue grew 97.3% year-over-year compared to Q3 2024. Operating income came in at $-95M.

Over the past 8 quarters, FUELCELL ENERGY INC has demonstrated a growth trajectory, with revenue expanding from $24M to $134M. Investors analyzing FCEL stock should weigh these quarterly trends alongside the valuation and quality metrics discussed above.

FCEL Dividend Yield and Income Analysis

FUELCELL ENERGY INC (FCEL) does not currently pay a dividend. This is common among smaller companies in the Electrical Equipment industry that prefer to reinvest cash flows into business expansion rather than returning capital to shareholders. Income-focused investors looking for Industrials dividend stocks may want to explore other Industrials stocks or use the stock screener to filter by dividend yield.

FCEL Momentum and Technical Analysis Profile

FUELCELL ENERGY INC (FCEL) has a momentum factor score of 46/100, reflecting neutral trend characteristics. The stock is neither significantly outperforming nor underperforming the broader market on a momentum basis. The investment factor score is 24/100, which measures capital allocation efficiency and asset growth patterns. The short interest score of 49/100 reflects moderate short selling activity.

FCEL vs Competitors — Industrials Sector Ranking and Peer Comparison

Within the Industrials sector, FUELCELL ENERGY INC (FCEL) ranks #674 out of 752 stocks based on the Blank Capital composite score. This places FCEL in the lower half of all Industrials stocks in our coverage universe. Key competitors and sector peers include South Bow Corp (SOBO) with a score of 56.5/100, TSAKOS ENERGY NAVIGATION LTD (TEN) with a score of 61.4/100, Great Lakes Dredge & Dock CORP (GLDD) with a score of 56.7/100, Tri Pointe Homes, Inc. (TPH) with a score of 57.3/100, and Clear Channel Outdoor Holdings, Inc. (CCO) with a score of 52.2/100.

Comparing FCEL against the S&P 500 benchmark is also instructive for understanding relative performance. Investors can view the full FCEL vs S&P 500 (SPY) comparison to assess how FUELCELL ENERGY INC stacks up against the broader market across all factor dimensions.

FCEL Next Earnings Date

No upcoming earnings date has been announced for FUELCELL ENERGY INC (FCEL) at this time. Check the earnings calendar for the latest scheduling updates across all stocks in our coverage universe.

Should You Buy FCEL? — Investment Thesis Summary

The quantitative profile for FUELCELL ENERGY INC suggests caution. The quality score of 26/100 flags below-average profitability. The value score of 25/100 indicates premium valuation. High volatility (stability score 27/100) increases portfolio risk.

In summary, FUELCELL ENERGY INC (FCEL) earns a Avoid rating with a composite score of 33.1/100 as of April 2026. The rating is derived from the Blank Capital Research methodology, which combines six factor dimensions into a single quantitative ranking. Investors should consider these quantitative signals alongside their own fundamental research, risk tolerance, and investment time horizon before making buy or sell decisions on FCEL stock.

Related Resources for FCEL Investors

Explore more research and tools: FCEL vs S&P 500 comparison, top Industrials stocks, stock screener, our methodology, quality factor explained, value factor explained, momentum factor explained. Compare FCEL head-to-head with peers: FCEL vs SOBO, FCEL vs TEN, FCEL vs GLDD.