Symbols / FCEL
FCEL Chart
About
FuelCell Energy, Inc., together with its subsidiaries, engages in the design, development, production, construction, operation, and servicing of high temperature fuel cells for clean electric power generation. The company engages in the provision of carbonate fuel cell technology; and commercialization of solid oxide electrolysis technology for distributed hydrogen. It also offers carbonate fuel cell products in various configurations and applications of its platform, including on-site power, grid support, and microgrid; carbon capture, recovery, and utilization technologies; and carbonate-based Tri-gen system that produces zero-carbon hydrogen. In addition, the company sells electricity, heat, steam, capacity, and renewable energy credits. In addition, the company provides turn-key solutions, including development, engineering, procurement, construction, interconnection, and operation services for fuel cell projects. It serves utilities and independent power producers, data centers, wastewater treatment, commercial and hospitality, and microgrids; and industrial, commercial, municipal, and government customers, including manufacturing facilities, pharmaceutical processing facilities, universities, and healthcare facilities. The company primarily operates in the United States, South Korea, Europe, and Canada. FuelCell Energy, Inc. was founded in 1969 and is headquartered in Danbury, Connecticut.
Fundamentals
Scroll to Statements| Sector | Industrials | Industry | Electrical Equipment & P | Market Cap | 347.52M |
| Enterprise Value | 270.92M | Income | -191.10M | Sales | 158.16M |
| Book/sh | 14.39 | Cash/sh | 5.83 | Dividend Yield | — |
| Payout | 0.00% | Employees | 424 | IPO | — |
| P/E | — | Forward P/E | -2.99 | PEG | — |
| P/S | 2.20 | P/B | 0.51 | P/C | — |
| EV/EBITDA | -3.35 | EV/Sales | 1.71 | Quick Ratio | 4.88 |
| Current Ratio | 6.63 | Debt/Eq | 18.13 | LT Debt/Eq | — |
| EPS (ttm) | -7.42 | EPS next Y | -2.43 | EPS Growth | — |
| Revenue Growth | 11.50% | Earnings | 2026-03-11 | ROA | -8.08% |
| ROE | -26.24% | ROIC | — | Gross Margin | -16.70% |
| Oper. Margin | -49.56% | Profit Margin | -118.80% | Shs Outstand | 47.74M |
| Shs Float | 47.61M | Short Float | 6.63% | Short Ratio | 1.25 |
| Short Interest | — | 52W High | 11.99 | 52W Low | 3.58 |
| Beta | 1.34 | Avg Volume | 2.46M | Volume | 900.84K |
| Target Price | $8.71 | Recom | Hold | Prev Close | $7.22 |
| Price | $7.28 | Change | 0.83% |
Valuation Models
Price estimates from analyst targets and simple models.
1. Analyst consensus
$8.71
Mean price target
2. Current target
$7.28
Latest analyst target
3. DCF / Fair value
$-16.73
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$7.28
Low
$7.00
High
$12.00
Mean
$8.71
Latest analyst rating changes
| Date | Action | Analyst | Rating Change | Price Target |
|---|---|---|---|---|
| 2025-12-19 | main | Canaccord Genuity | Hold → Hold | $12 |
| 2025-09-17 | main | UBS | Neutral → Neutral | $7 |
| 2025-09-15 | main | Canaccord Genuity | Hold → Hold | $12 |
| 2025-06-13 | main | B. Riley Securities | Neutral → Neutral | $8 |
| 2025-03-12 | main | B. Riley Securities | Neutral → Neutral | $9 |
| 2024-12-20 | main | Jefferies | Hold → Hold | $8 |
| 2024-12-20 | main | Canaccord Genuity | Hold → Hold | $12 |
| 2024-12-03 | main | UBS | Neutral → Neutral | $14 |
| 2024-08-06 | main | UBS | Neutral → Neutral | $1 |
| 2024-03-08 | main | Canaccord Genuity | Hold → Hold | $2 |
| 2024-03-08 | main | B. Riley Securities | Neutral → Neutral | $2 |
| 2023-09-13 | main | Canaccord Genuity | Hold → Hold | $2 |
| 2023-09-12 | main | Wells Fargo | Underweight → Underweight | $1 |
| 2022-12-21 | main | B. Riley Securities | — → Neutral | $4 |
| 2022-12-14 | init | UBS | — → Neutral | $4 |
| 2022-06-10 | main | Craig-Hallum | — → Hold | $3 |
| 2022-01-05 | init | Keybanc | — → Sector Weight | — |
| 2021-12-30 | main | B. Riley Securities | — → Neutral | $6 |
| 2021-12-30 | main | Canaccord Genuity | — → Hold | $6 |
| 2021-06-11 | main | Canaccord Genuity | — → Hold | $9 |
- FuelCell Energy, Inc. (NASDAQ:FCEL) Receives Consensus Rating of "Reduce" from Brokerages - MarketBeat Wed, 18 Feb 2026 07
- FuelCell Energy Data Center Push: What the 450MW Plan Means - Zacks Investment Research Mon, 26 Jan 2026 08
- FuelCell Energy (FCEL) Stock Trades Up, Here Is Why - Yahoo Finance Fri, 05 Dec 2025 08
- Why FuelCell Energy (FCEL) stock is up today - MSN Wed, 21 Jan 2026 18
- FuelCell Rockets On Data-Center Focus, Revenue Growth - Investor's Business Daily hu, 18 Dec 2025 08
- FuelCell Energy (NASDAQ:FCEL) Stock Passes Above Two Hundred Day Moving Average - Here's Why - MarketBeat hu, 12 Feb 2026 11
- FuelCell Energy (FCEL) Stock Trades Up, Here Is Why - Yahoo Finance hu, 18 Dec 2025 08
- Is FCEL Better Positioned Than OKLO for Data Center Power? - Zacks Investment Research Wed, 28 Jan 2026 08
- Why FuelCell Energy (FCEL) Stock Is Up Today - Yahoo Finance Wed, 21 Jan 2026 08
- Why Is FuelCell Energy (FCEL) Stock Soaring Today - Yahoo Finance ue, 02 Dec 2025 08
- Why FuelCell Energy (FCEL) Stock Is Trading Up Today - Yahoo Finance Fri, 03 Oct 2025 07
- FuelCell Energy (FCEL) Stock Trades Up, Here Is Why - Yahoo Finance Mon, 22 Sep 2025 07
- Why Is FuelCell Energy (FCEL) Stock Soaring Today - Yahoo Finance ue, 20 Jan 2026 08
- FCEL Stock Outperforms Industry Past 3 Months: How to Play? - Yahoo Finance Mon, 24 Nov 2025 08
- Why FuelCell Energy (FCEL) Stock Is Up Today - Yahoo Finance Wed, 10 Sep 2025 07
Insider Transactions
| Date | Shares | Url | Text | Insider | Position | Transaction | Start Date | Ownership | Value |
|---|---|---|---|---|---|---|---|---|---|
| 0 | 29250 | — | — | FEW JASON B | Chief Executive Officer | — | 2025-12-30 00:00:00 | D | nan |
| 1 | 11363 | — | — | BISHOP MICHAEL S | Chief Financial Officer | — | 2025-12-30 00:00:00 | D | nan |
| 2 | 6250 | — | — | DOLGER JOSHUA | General Counsel | — | 2025-12-30 00:00:00 | D | nan |
| 3 | 6250 | — | — | ACHANTA SHANKAR | Chief Technology Officer | — | 2025-12-30 00:00:00 | D | nan |
| 4 | 8608 | — | Sale at price 8.52 per share. | BINGHAM BETSY B | Director | — | 2025-12-22 00:00:00 | D | 73371.0 |
| 5 | 11818 | — | — | FEW JASON B | Chief Executive Officer | — | 2025-12-11 00:00:00 | D | nan |
| 6 | 4591 | — | — | BISHOP MICHAEL S | Chief Financial Officer | — | 2025-12-11 00:00:00 | D | nan |
| 7 | 2525 | — | — | DOLGER JOSHUA | General Counsel | — | 2025-12-11 00:00:00 | D | nan |
| 8 | 9789 | — | — | FEW JASON B | Chief Executive Officer | — | 2025-12-05 00:00:00 | D | nan |
| 9 | 2224 | — | — | BISHOP MICHAEL S | Chief Financial Officer | — | 2025-12-05 00:00:00 | D | nan |
Financials
| Line Item | 2025-10-31 | 2024-10-31 | 2023-10-31 | 2022-10-31 |
|---|---|---|---|---|
| TaxEffectOfUnusualItems | -71.12K | -2.56K | 76.69K | 0.00 |
| TaxRateForCalcs | 0.00 | 0.00 | 0.01 | 0.21 |
| NormalizedEBITDA | -69.34M | -108.31M | -90.19M | -118.75M |
| TotalUnusualItems | -71.12M | -2.56M | 15.34M | 0.00 |
| TotalUnusualItemsExcludingGoodwill | -71.12M | -2.56M | 15.34M | 0.00 |
| NetIncomeFromContinuingOperationNetMinorityInterest | -187.90M | -126.01M | -107.57M | -142.72M |
| ReconciledDepreciation | 40.40M | 36.19M | 25.38M | 21.27M |
| ReconciledCostOfRevenue | 184.57M | 148.05M | 133.93M | 160.06M |
| EBITDA | -140.46M | -110.87M | -74.85M | -118.75M |
| EBIT | -180.86M | -147.06M | -100.23M | -140.02M |
| NetInterestIncome | -2.06M | 4.03M | 8.55M | -3.01M |
| InterestExpense | 10.38M | 9.69M | 7.25M | 6.39M |
| InterestIncome | 8.31M | 13.72M | 15.79M | 3.39M |
| NormalizedIncome | -116.85M | -123.45M | -122.83M | -142.72M |
| NetIncomeFromContinuingAndDiscontinuedOperation | -187.90M | -126.01M | -107.57M | -142.72M |
| TotalExpenses | 279.39M | 268.06M | 259.48M | 274.21M |
| TotalOperatingIncomeAsReported | -192.35M | -158.49M | -136.08M | -143.72M |
| DilutedAverageShares | 16.51M | 13.99M | 12.77M | 11.16M |
| BasicAverageShares | 16.51M | 13.99M | 12.77M | 11.16M |
| DilutedEPS | -7.83 | -7.80 | -11.40 | -9.30 |
| BasicEPS | -7.83 | -7.80 | -11.40 | -9.30 |
| DilutedNIAvailtoComStockholders | -191.10M | -129.21M | -110.77M | -145.92M |
| NetIncomeCommonStockholders | -191.10M | -129.21M | -110.77M | -145.92M |
| OtherunderPreferredStockDividend | 0.00 | |||
| PreferredStockDividends | 3.20M | 3.20M | 3.20M | 3.20M |
| NetIncome | -187.90M | -126.01M | -107.57M | -142.72M |
| MinorityInterests | 3.47M | 30.77M | 488.00K | 4.51M |
| NetIncomeIncludingNoncontrollingInterests | -191.37M | -156.78M | -108.06M | -147.23M |
| NetIncomeContinuousOperations | -191.37M | -156.78M | -108.06M | -147.23M |
| TaxProvision | 137.00K | 25.00K | 581.00K | 819.00K |
| PretaxIncome | -191.24M | -156.75M | -107.47M | -146.41M |
| OtherIncomeExpense | -67.94M | -4.86M | 20.06M | 319.00K |
| OtherNonOperatingIncomeExpenses | 3.18M | -2.29M | 4.72M | 319.00K |
| SpecialIncomeCharges | -71.12M | -2.56M | 15.34M | 0.00 |
| OtherSpecialCharges | -15.34M | 12.09M | ||
| WriteOff | 65.78M | 0.00 | 0.00 | |
| RestructuringAndMergernAcquisition | 5.34M | 2.56M | 0.00 | 0.00 |
| GainOnSaleOfSecurity | -15.97M | |||
| NetNonOperatingInterestIncomeExpense | -2.06M | 4.03M | 8.55M | -3.01M |
| InterestExpenseNonOperating | 10.38M | 9.69M | 7.25M | 6.39M |
| InterestIncomeNonOperating | 8.31M | 13.72M | 15.79M | 3.39M |
| OperatingIncome | -121.23M | -155.93M | -136.08M | -143.72M |
| OperatingExpense | 94.82M | 120.01M | 125.55M | 114.15M |
| ResearchAndDevelopment | 34.08M | 55.40M | 61.02M | 34.53M |
| SellingGeneralAndAdministration | 60.74M | 64.60M | 64.53M | 79.62M |
| GrossProfit | -26.41M | -35.92M | -10.54M | -29.57M |
| CostOfRevenue | 184.57M | 148.05M | 133.93M | 160.06M |
| TotalRevenue | 158.16M | 112.13M | 123.39M | 130.48M |
| OperatingRevenue | 158.16M | 112.13M | 123.39M | 130.48M |
| Line Item | 2025-10-31 | 2024-10-31 | 2023-10-31 | 2022-10-31 |
|---|---|---|---|---|
| TreasurySharesNumber | 44.91K | 12.54K | 8.21K | 4.76K |
| OrdinarySharesNumber | 46.08M | 20.38M | 15.02M | 13.52M |
| ShareIssued | 46.12M | 20.39M | 15.03M | 13.52M |
| TotalDebt | 143.96M | 156.47M | 139.25M | 104.29M |
| TangibleBookValue | 658.29M | 638.07M | 662.34M | 662.94M |
| InvestedCapital | 793.25M | 803.70M | 812.15M | 780.45M |
| WorkingCapital | 381.97M | 370.55M | 410.41M | 494.48M |
| NetTangibleAssets | 718.14M | 697.92M | 722.20M | 722.80M |
| CapitalLeaseObligations | 12.89M | 9.70M | 9.59M | 8.22M |
| CommonStockEquity | 662.18M | 656.92M | 682.49M | 684.39M |
| PreferredStockEquity | 59.86M | 59.86M | 59.86M | 59.86M |
| TotalCapitalization | 837.26M | 847.63M | 861.94M | 827.11M |
| TotalEquityGrossMinorityInterest | 731.14M | 727.47M | 760.30M | 754.38M |
| MinorityInterest | 9.11M | 10.69M | 17.95M | 10.13M |
| StockholdersEquity | 722.04M | 716.78M | 742.35M | 744.25M |
| OtherEquityInterest | 1.41M | 1.20M | 1.08M | 855.00K |
| GainsLossesNotAffectingRetainedEarnings | -1.70M | -1.56M | -1.67M | -1.75M |
| OtherEquityAdjustments | -1.70M | -1.56M | -1.67M | -1.75M |
| TreasuryStock | 1.41M | 1.20M | 1.08M | 855.00K |
| RetainedEarnings | -1.83B | -1.64B | -1.52B | -1.41B |
| AdditionalPaidInCapital | 2.49B | 2.30B | 2.20B | 2.09B |
| CapitalStock | 59.86M | 59.86M | 59.86M | 59.90M |
| CommonStock | 5.00K | 2.00K | 2.00K | 41.00K |
| PreferredStock | 59.86M | 59.86M | 59.86M | 59.86M |
| TotalLiabilitiesNetMinorityInterest | 201.00M | 216.66M | 195.22M | 185.33M |
| TotalNonCurrentLiabilitiesNetMinorityInterest | 133.17M | 142.75M | 129.31M | 99.53M |
| PreferredSecuritiesOutsideStockEquity | 0.00 | |||
| NonCurrentDeferredLiabilities | 5.99M | 3.01M | 732.00K | 9.10M |
| NonCurrentDeferredRevenue | 5.99M | 3.01M | 732.00K | 9.10M |
| LongTermDebtAndCapitalLeaseObligation | 127.18M | 139.74M | 128.58M | 90.44M |
| LongTermCapitalLeaseObligation | 11.95M | 8.89M | 8.99M | 7.58M |
| LongTermDebt | 115.23M | 130.85M | 119.59M | 82.86M |
| CurrentLiabilities | 67.84M | 73.90M | 65.90M | 85.80M |
| CurrentDeferredLiabilities | 2.73M | 4.23M | 2.41M | 16.34M |
| CurrentDeferredRevenue | 2.73M | 4.23M | 2.41M | 16.34M |
| CurrentDebtAndCapitalLeaseObligation | 16.78M | 16.73M | 10.67M | 13.85M |
| CurrentCapitalLeaseObligation | 932.00K | 807.00K | 599.00K | 650.00K |
| CurrentDebt | 15.85M | 15.92M | 10.07M | 13.20M |
| OtherCurrentBorrowings | 15.85M | 15.92M | 10.07M | 13.20M |
| PensionandOtherPostRetirementBenefitPlansCurrent | 2.22M | 2.23M | ||
| PayablesAndAccruedExpenses | 46.11M | 50.71M | 52.83M | 55.61M |
| CurrentAccruedExpenses | 22.12M | 20.38M | 18.49M | 19.87M |
| Payables | 23.99M | 30.33M | 34.34M | 35.74M |
| OtherPayable | 2.52M | 2.52M | 3.96M | |
| TotalTaxPayable | 4.47M | 5.23M | 3.86M | 7.54M |
| AccountsPayable | 17.01M | 22.59M | 26.52M | 28.20M |
| TotalAssets | 932.15M | 944.12M | 955.52M | 939.72M |
| TotalNonCurrentAssets | 482.34M | 499.67M | 479.21M | 359.44M |
| OtherNonCurrentAssets | 153.93M | 99.87M | 102.97M | 39.78M |
| NonCurrentAccountsReceivable | 11.58M | |||
| GoodwillAndOtherIntangibleAssets | 3.89M | 18.85M | 20.15M | 21.45M |
| OtherIntangibleAssets | 3.89M | 14.78M | 16.08M | 17.37M |
| Goodwill | 0.00 | 4.08M | 4.08M | 4.08M |
| NetPPE | 324.51M | 380.94M | 356.09M | 298.21M |
| AccumulatedDepreciation | -208.76M | -181.24M | -154.26M | -132.64M |
| GrossPPE | 533.27M | 562.18M | 510.35M | 430.86M |
| ConstructionInProgress | 38.13M | 68.76M | 124.53M | 134.18M |
| OtherProperties | 317.93M | 316.62M | 222.10M | 161.93M |
| MachineryFurnitureEquipment | 152.87M | 149.69M | 141.76M | 113.01M |
| BuildingsAndImprovements | 23.82M | 26.58M | 21.43M | 21.22M |
| LandAndImprovements | 524.00K | 524.00K | 524.00K | 524.00K |
| Properties | 0.00 | 0.00 | 0.00 | 0.00 |
| CurrentAssets | 449.81M | 444.46M | 476.31M | 580.28M |
| OtherCurrentAssets | 15.91M | 12.74M | 12.88M | 10.99M |
| RestrictedCash | 16.60M | 12.16M | 5.16M | 4.42M |
| PrepaidAssets | 9.18M | |||
| Inventory | 86.20M | 113.70M | 84.46M | 90.91M |
| Receivables | 53.01M | 48.60M | 20.11M | 15.90M |
| OtherReceivables | 49.01M | 36.85M | 16.30M | 11.02M |
| AccountsReceivable | 4.00M | 11.75M | 3.81M | 4.88M |
| CashCashEquivalentsAndShortTermInvestments | 278.10M | 257.26M | 353.71M | 458.06M |
| OtherShortTermInvestments | 0.00 | 109.12M | 103.76M | 0.00 |
| CashAndCashEquivalents | 278.10M | 148.13M | 249.95M | 458.06M |
| Line Item | 2025-10-31 | 2024-10-31 | 2023-10-31 | 2022-10-31 |
|---|---|---|---|---|
| FreeCashFlow | -147.83M | -212.46M | -232.61M | -158.82M |
| RepurchaseOfCapitalStock | 0.00 | 0.00 | -21.54M | |
| RepaymentOfDebt | -14.44M | -11.70M | -47.83M | -9.54M |
| IssuanceOfDebt | 0.00 | 23.10M | 100.50M | 0.00 |
| IssuanceOfCapitalStock | 185.69M | 92.56M | 97.44M | 183.55M |
| CapitalExpenditure | -22.54M | -59.55M | -92.36M | -46.65M |
| InterestPaidSupplementalData | 7.25M | 6.80M | 3.09M | 1.56M |
| IncomeTaxPaidSupplementalData | 154.00K | 16.00K | 6.00K | 2.00K |
| EndCashPosition | 341.79M | 208.88M | 299.58M | 481.04M |
| BeginningCashPosition | 208.88M | 299.58M | 481.04M | 460.21M |
| EffectOfExchangeRateChanges | 77.00K | 111.00K | 80.00K | -933.00K |
| ChangesInCash | 132.83M | -90.80M | -181.55M | 21.77M |
| FinancingCashFlow | 169.26M | 122.15M | 151.07M | 180.58M |
| CashFlowFromContinuingFinancingActivities | 169.26M | 122.15M | 151.07M | 180.58M |
| NetOtherFinancingCharges | 1.17M | 21.27M | 4.10M | 9.73M |
| ProceedsFromStockOptionExercised | 51.00K | 120.00K | 56.00K | 47.00K |
| CashDividendsPaid | -3.20M | -3.20M | -3.20M | -3.20M |
| PreferredStockDividendPaid | -3.20M | -3.20M | -3.20M | -3.20M |
| NetPreferredStockIssuance | 0.00 | 0.00 | -21.54M | |
| PreferredStockPayments | 0.00 | 0.00 | -21.54M | |
| NetCommonStockIssuance | 185.69M | 92.56M | 97.44M | 183.55M |
| CommonStockIssuance | 185.69M | 92.56M | 97.44M | 183.55M |
| NetIssuancePaymentsOfDebt | -14.44M | 11.40M | 52.67M | -9.54M |
| NetLongTermDebtIssuance | -14.44M | 11.40M | 52.67M | -9.54M |
| LongTermDebtPayments | -14.44M | -11.70M | -47.83M | -9.54M |
| LongTermDebtIssuance | 0.00 | 23.10M | 100.50M | 0.00 |
| InvestingCashFlow | 88.86M | -60.05M | -192.37M | -46.65M |
| CashFlowFromContinuingInvestingActivities | 88.86M | -60.05M | -192.37M | -46.65M |
| NetOtherInvestingChanges | -66.88M | |||
| NetInvestmentPurchaseAndSale | 111.40M | -496.00K | -100.00M | 0.00 |
| SaleOfInvestment | 772.37M | 835.24M | 199.09M | 0.00 |
| PurchaseOfInvestment | -660.97M | -835.74M | -299.09M | 0.00 |
| CapitalExpenditureReported | -22.54M | -59.55M | -92.36M | -46.65M |
| OperatingCashFlow | -125.29M | -152.91M | -140.25M | -112.17M |
| CashFlowFromContinuingOperatingActivities | -125.29M | -152.91M | -140.25M | -112.17M |
| ChangeInWorkingCapital | -49.79M | -57.85M | -53.01M | -1.51M |
| ChangeInOtherWorkingCapital | 1.48M | 4.10M | -22.30M | -11.28M |
| ChangeInOtherCurrentAssets | -5.88M | -5.40M | -13.09M | -2.09M |
| ChangeInPayablesAndAccruedExpense | -2.88M | 3.69M | -1.46M | 30.95M |
| ChangeInAccruedExpense | -118.00K | 4.69M | -4.46M | 24.62M |
| ChangeInPayable | -2.76M | -999.00K | 3.00M | 6.33M |
| ChangeInAccountPayable | -2.76M | -999.00K | 3.00M | 6.33M |
| ChangeInInventory | 15.87M | -29.25M | 4.69M | -28.06M |
| ChangeInReceivables | -58.39M | -30.98M | -20.84M | 8.97M |
| ChangesInAccountReceivables | 7.75M | -7.94M | 1.08M | 9.20M |
| OtherNonCashItems | 2.61M | 2.56M | 3.94M | 6.92M |
| StockBasedCompensation | 11.09M | 11.76M | 11.95M | 6.79M |
| AssetImpairmentCharge | 65.78M | 1.26M | 2.38M | 1.78M |
| DepreciationAmortizationDepletion | 40.40M | 36.19M | 25.38M | 21.27M |
| DepreciationAndAmortization | 40.40M | 36.19M | 25.38M | 21.27M |
| OperatingGainsLosses | -4.01M | 9.94M | -22.84M | -196.00K |
| GainLossOnInvestmentSecurities | -4.01M | 9.94M | -7.44M | -779.00K |
| NetForeignCurrencyExchangeGainLoss | 0.00 | 0.00 | -57.00K | 583.00K |
| NetIncomeFromContinuingOperations | -191.37M | -156.78M | -108.06M | -147.23M |
SEC Filings
Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.
Public Trades for FCEL
| Date | User | Asset | Broker | Type | Position Size | Entry Price | Patterns |
|---|