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Stock FuelCell Energy, Inc. FCEL

FuelCell Energy, Inc. — Investlytic score 1/5 on the five criteria.

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20/ 100
Score Investlytic · 5 criteria

Analysis in progress…

Investlytic score: 1/5 criteria met. Data as of 01/11/2026.

  • ❌ Price trend failed
  • ⚠️ Mixed growth
  • ✅ Debt passed
  • ❌ P/E failed
  • ❌ Correction failed

Price trend

Overall trend (8 years): insufficient progression (less than x1.5).

Price change 2018 → 2019: -62.00%

Price change 2019 → 2020: 345.02%

Price change 2020 → 2021: -53.45%

Price change 2021 → 2022: -46.54%

Price change 2022 → 2023: -42.45%

Price change 2023 → 2024: -81.17%

Price change 2024 → 2025: -19.14%

Price change 2025 → 2026: 45.21%

Price change 2026 (year to date): 29.93%

Financial growth

Revenue CAGR (8 years): 8.48%

Earnings CAGR (8 years): N/A

Growth status: positive trend (>1%/yr) in revenue, earnings data insufficient/N/A.

Debt

Debt-to-equity ratio: 0.20

Debt/equity < 0.5 (maximum threshold).

P/E (Price/Earnings)

P/E ratio: -2.83

P/E > 25.0 (maximum threshold).

Correction (6 months)

Current correction: 70.52% from the high over 6 months.

Excessive correction (> 20.0%).

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Criteria of the Investlytic model

- / 5
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Score out of 100, model verdict (buy, watch, sell) and details of the 5 criteria · visible with a free account.

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Price trend

Price & trend

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⚖️ Comparison with the market

All stocks →
StockP/EDette/FPRevenue growthRating
FuelCell Energy, Inc.–0.20+5.6 %🔒
T1 Energy Inc–1.02−8.1 %–
GL Events S.A.10.13.43+5.9 %–
Barrett Business Services, Inc.23.90.10+10.6 %★ 4/5
JOST Werke AG–2.14+10.4 %–

Data from the Investlytic screener. The rating of the stock being viewed is reserved for members.

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Detailed analysis · Price trend

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Global model trend and annual price variations · visible with a free account.

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Revenues & profits

Revenue and net income

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Chart of revenues and net income over 8 periods · real data, no estimates.

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Financial indicators

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18 financial indicators analyzed by groups of criteria: valuation, profitability, growth, solidity, dividend, and momentum.

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Annual financial statements

Fiscal yearRevenueNet income Net marginEPSRevenue growth
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Complete annual financial statements: revenue, net income, margin, and EPS over 8 fiscal years.

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Key reported figures

Revenue, net income and net margin reported by FuelCell Energy, Inc. over the latest fiscal years.

Revenue
158 m USD
fiscal year 2025
Net income
-188 m USD
fiscal year 2025
Net margin
-118.8 %
fiscal year 2025
Average annual growth
+17.4 %
Revenue growth over 5 years
Average annual growth
-0.3 %
Revenue growth over 10 years
Market cap
796 m USD
Fiscal yearRevenueNet incomeNet marginRevenue growth
202070.9 m-89.1 m-125.7 %n/a
202169.6 m-101 m-145.2 %-1.8 %
2022130 m-143 m-109.4 %+87.5 %
2023123 m-108 m-87.2 %-5.4 %
2024112 m-126 m-112.4 %-9.1 %
2025158 m-188 m-118.8 %+41.0 %

Amounts converted to USD. Source: published annual accounts, collected on 06/11/2026.

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Accounts and financial health

Balance sheet and cash flow published by FuelCell Energy, Inc. over the last fiscal years, strength scores and valuation by discounted cash flow (DCF).

Overview
fragile accounts
according to Altman Z, Piotroski and net debt
Altman Z-score
-0.28
risk zone (below 1.81)
Piotroski Score
2 / 9
0 to 3: fragile accounts
Net Debt / EBITDA
3.70 x
high debt
Fiscal year20212022202320242025
Cash and investments432 m458 m354 m257 m278 m
Total Debt97.8 m104 m139 m156 m144 m
Net Debt-334 m-354 m-111 m8.3 m-134 m
Equity702 m744 m742 m717 m722 m
Total assets875 m940 m956 m944 m932 m
Operating cash flow-70.4 m-112 m-140 m-153 m-125 m
Investments (capex)73.2 m46.7 m92.4 m59.6 m22.5 m
Free cash-flow-144 m-159 m-233 m-212 m-148 m
Share buybacks00000
Dividends paid3.2 m3.2 m3.2 m3.2 m3.2 m

Amounts in USD, currency of the published accounts.

Trailing 12-month ratios

Price / earnings (P/E)-2.90 x
Price / book value0.72 x
Return on Equity (ROE)-22.1 %
Return on Invested Capital (ROIC)-8.6 %
Net margin-113.9 %
Debt / equity0.18 x
Current ratio8.67 x
Interest coverage-9.65 x
Free cash-flow yield-13.4 %

Altman Z: default risk estimated from the balance sheet and earnings. Piotroski: 9 tests on profitability, debt and efficiency. DCF: estimated value from discounted future cash flows, a model and not a forecast. Source: annual accounts published by the company, data as of 09/11/2026.

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Analyst consensus and forecasts

What the financial analysts covering FuelCell Energy, Inc. publish: ratings, price targets and earnings forecasts.

Majority rating
buy
20 analysts
Average price target
21.50 USD
from n/a to n/a, 13 targets over 12 months
Gap with the share price
+91.6 %
price 11.22 USD on 30/10/2026

Breakdown of ratings

strong buy 0buy 9hold 9sell 2strong sell 0

Average target over the last 3 months: 21.50 USD (4 targets).

Track record against expectations: reported EPS above consensus 5 times over the last 12 releases.

Source: ratings and forecasts published by analysts, collected on 07/11/2026. An analyst rating or target is not a guarantee.

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Dividends and earnings

FuelCell Energy, Inc.: dividend history, last distributions, stock splits and earnings releases.

No known dividend for this company.

Earnings releases

Next release: 17/12/2026. Expected EPS: -0.39.

Factual data: ex-dividend history and earnings calendar, as of 05/11/2026. A past dividend does not guarantee the next one.

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Who owns the stock

Free float, institutional investors, large funds, executives and elected officials: declared positions in FuelCell Energy, Inc.

Large funds tracked
20
hold the stock as of 2026Q2
Executives (insiders)
2 / 1
2 purchases, 1 sales in 130 days

Large funds tracked

FundSharesValue (USD)Weight in the fundChangeQuarter
BlackRock4.3 m155 m0.0 %+316.3 %2026Q2
State Street4.3 m154 m0.0 %+1,735.9 %2026Q2
Two Sigma Investments2.1 m74.2 m0.1 %+60.9 %2026Q2
Citadel Advisors1.7 m61.4 m0.0 %+199.1 %2026Q2
Geode Capital Management1.4 m50.7 m0.0 %+142.2 %2026Q2
Renaissance Technologies1.3 m45.8 m0.1 %+43.5 %2026Q2
Invesco982,04235.4 m0.0 %-19.2 %2026Q2
Millennium Management746,87926.9 m0.0 %-0.7 %2026Q2

Latest insider transactions

DatePersonSideAmount
06/10/2026Achanta Shankarsale46,250 USD
14/09/2026Livingston Iii Homer Johnpurchase246,955 USD
16/07/2026Livingston Iii Homer Johnpurchase494,967 USD

Sources: 13F filings (quarter shown), executives' Form 4 filings and US Congress members' disclosures, collected on 08/11/2026. Detailed disclosure obligations mainly apply to companies listed in the United States.

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PEA and practical information

PEA eligibility
no
head office outside the EU and EEA
Listing exchange
Nasdaq
IPO: 25/06/1992
ISIN code
US35952H7008
Workforce
584
full-time employees
Chief executive
Jason B. Few
Next earnings
17/12/2026

Rule applied: the French PEA accepts shares of companies headquartered in the European Union or the European Economic Area and subject to corporate income tax; ADRs and tax-exempt property companies (SIIC) are excluded. The institution holding the PEA confirms eligibility.

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Frequently asked questions about FuelCell Energy, Inc.

What is the FuelCell Energy, Inc. share price?

Latest recorded price: 9.96 USD on 06/11/2026, for a market cap of 796 m USD.

What is the revenue of FuelCell Energy, Inc.?

158 m USD for fiscal year 2025, with net income of -188 m USD (net margin -118.8 %).

When does FuelCell Energy, Inc. report its next earnings?

The next release is expected on 17/12/2026. EPS expected by analysts: -0.39.

What do analysts say about FuelCell Energy, Inc.?

Out of 20 analysts: 9 buy or strong buy, 9 hold, 2 sell or strong sell. Average price target: 21.50 USD, i.e. +91.6 % from the share price.

Is FuelCell Energy, Inc. stock eligible for the French PEA?

No: the company is headquartered outside the European Union and the European Economic Area (ISIN US35952H7008).

How many employees does FuelCell Energy, Inc. have?

584 full-time employees according to the latest published profile.

Who runs FuelCell Energy, Inc.?

Jason B. Few is the company's chief executive.

Which large funds own FuelCell Energy, Inc.?

As of 2026Q2, among the large funds tracked: BlackRock, State Street, Two Sigma Investments, Citadel Advisors, Geode Capital Management.

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