Saturday 17 October 2026 Export FCEL’s income statement to Excel — free account

FuelCell Energy, Inc.

FCEL Industrials Electrical Equipment & Parts

FuelCell Energy, Inc.’s revenue for fiscal 2025 (year ended October 2025) was $158.2 million, up 41.0% from fiscal 2024. In the quarter to July 2026, revenue fell 29.4%, EPS grew 83.1%, free cash flow grew 45.8% and total debt rose 21.6%, each against the same quarter a year earlier. Insiders bought in the last twelve months.

13.00 1.09 −7.74%

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Market cap: $1.1B
P/E: 0.0×
Fwd P/E: −8.5×
Dividend yield: —
F-score: 5/9
Altman Z: −2.24
Beneish M: n/a
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

	Oct '25	Oct '24	Oct '23	Oct '22	Oct '21	Oct '20	Oct '19	Oct '18	Oct '17	Oct '16
Piotroski F-Score Full definition →	5	0	3	3	4	4	1	4	3	2
P/E ratio Full definition →	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
P/S ratio Full definition →	1.46	1.50	3.71	9.16	45.80	6.73	0.22	0.79	1.14	0.92
Altman Z-Score Full definition →	(2.24)	(2.03)	(0.97)	1.06	5.37	(2.01)	(4.89)	(3.83)	(3.02)	(2.99)
P/FCF ratio Full definition →	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Altman Z″-Score (non-manufacturers) Full definition →	(2.39)	(1.69)	(0.43)	0.46	1.36	(4.94)	(11.13)	(8.68)	(6.62)	(6.00)
Beneish M-Score Full definition →	—	—	—	—	—	—	—	(3.93)	(0.94)	—
P/Operating CF Full definition →	(10.08)	28.80	(28.91)	(49.64)	(323.44)	(39.06)	(1.08)	(5.39)	(7.79)	(1,185.90)
P/B ratio Full definition →	0.34	0.25	0.65	1.73	4.96	2.45	0.17	0.85	1.08	0.87
Price to Tangible BV Full definition →	0.35	0.26	0.67	1.78	5.14	2.80	0.26	1.03	1.25	0.99
EV/Sales Full definition →	0.42	0.41	1.85	6.35	40.70	6.91	1.85	1.28	1.54	0.85
EV/EBITDA Full definition →	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EV/Operating CF Full definition →	(0.53)	(0.30)	(1.63)	(7.39)	(40.21)	(13.31)	(3.68)	7.01	(2.05)	(1.97)
EV/FCF Full definition →	(0.45)	(0.22)	(0.98)	(5.22)	(19.71)	(7.13)	(1.74)	(3.27)	(1.42)	(1.04)
Quick Ratio Full definition →	5.13	4.30	5.75	5.58	8.85	3.00	0.38	1.13	1.25	2.27
Current Ratio Full definition →	6.63	6.01	7.23	6.76	10.30	3.97	1.34	2.17	2.08	3.89
Net Debt/EBITDA Full definition →	1.08	1.00	2.07	2.99	7.88	(0.65)	(1.82)	(1.23)	(1.05)	0.20
Debt/Assets Full definition →	14.06%	15.55%	13.57%	10.22%	10.14%	32.86%	33.61%	26.21%	23.98%	25.20%
Debt/Equity Full definition →	0.20	0.22	0.19	0.14	0.14	0.88	1.48	1.09	0.91	0.75
Asset Turnover Full definition →	0.17	0.12	0.13	0.14	0.10	0.17	0.18	0.25	0.26	0.35
Operating CF/Net income Full definition →	0.66	1.18	1.27	0.77	0.68	0.40	0.31	(0.26)	1.26	0.86
Capex/Depreciation Full definition →	(0.56)	(1.65)	(3.64)	(2.19)	(3.69)	(1.65)	(2.74)	(5.93)	(3.77)	(5.08)
Interest Coverage Full definition →	(18.53)	(16.36)	(18.78)	(22.48)	(8.81)	(2.56)	(6.30)	(4.93)	(4.90)	(9.35)
ROE Full definition →	(28.55%)	(18.89%)	(15.92%)	(21.88%)	(24.91%)	(68.40%)	(126.95%)	(67.78%)	(52.96%)	(51.79%)
ROA Full definition →	(20.37%)	(13.60%)	(11.69%)	(16.08%)	(14.91%)	(21.57%)	(29.75%)	(17.17%)	(15.76%)	(17.53%)
ROIC Full definition →	(23.68%)	(18.18%)	(18.05%)	(27.63%)	(14.10%)	(11.80%)	(23.92%)	(22.08%)	(20.15%)	(27.17%)
Return on Tangible Assets Full definition →	(39.94%)	(25.78%)	(22.15%)	(26.41%)	(19.67%)	(43.72%)	(159.83%)	(52.51%)	(38.32%)	(28.98%)
Average Days of Receivables Full definition →	122.33	158.20	59.47	44.49	124.07	90.66	65.94	94.02	261.43	82.92
Research and Development Expense of Revenue Full definition →	21.55%	49.41%	49.45%	26.46%	16.26%	6.77%	22.69%	25.51%	21.32%	19.26%
Selling, General and Administrative Expense of Revenue Full definition →	38.41%	57.61%	52.29%	61.02%	54.53%	37.60%	52.47%	27.85%	27.09%	23.23%
Intangible Assets out of Total Assets Full definition →	0.00	0.02	0.02	0.02	0.03	0.05	0.08	0.04	0.04	0.04
Share Based Compensation of Revenue Full definition →	7.01%	10.49%	9.69%	5.21%	6.17%	2.64%	4.62%	3.62%	4.79%	3.16%
Graham Net Nets Full definition →	0.82	1.00	0.48	0.28	0.10	(0.20)	(13.13)	(1.82)	(0.72)	(0.24)
Graham Number Full definition →	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Earnings Yield Full definition →	(87.60%)	(77.60%)	(24.80%)	(12.19%)	(3.36%)	(19.55%)	(2,682.52%)	(87.18%)	(54.87%)	(54.70%)
Free Cash Flow Yield Full definition →	(64.16%)	(126.20%)	(50.84%)	(13.29%)	(4.51%)	(14.41%)	(487.63%)	(49.73%)	(95.17%)	(88.39%)
Revenue per Share Full definition →	6.14	6.79	8.82	10.22	6.24	9.59	33.12	389.53	690.73	1,310.56
Operating CF per Share Full definition →	(4.87)	(9.26)	(10.02)	(8.78)	(6.32)	(4.98)	(16.67)	71.09	(518.74)	(564.10)
Capex per Share Full definition →	(0.88)	(3.61)	(6.60)	(3.65)	(6.57)	(4.32)	(18.44)	(223.26)	(231.60)	(501.84)
Free Cash Flow per Share Full definition →	(5.74)	(12.87)	(16.63)	(12.44)	(12.89)	(9.29)	(35.11)	(152.17)	(750.34)	(1,065.94)
Cash per Share Full definition →	11.45	16.32	25.65	36.21	39.79	21.53	7.04	196.42	389.33	1,133.46
Shareholders Equity per Share Full definition →	26.08	40.45	50.06	54.14	57.63	26.32	41.29	357.99	731.09	1,384.94
Interest Debt per Share Full definition →	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Book value per Share Full definition →	26.08	40.45	50.06	54.14	57.63	26.32	41.29	357.99	731.09	1,384.94
Free Cash Flow Full definition →	(147.83)	(212.46)	(232.61)	(158.82)	(143.67)	(68.69)	(64.40)	(34.94)	(103.92)	(88.05)
Working Capital Full definition →	381.97	370.55	410.41	494.48	490.62	175.08	21.59	70.18	105.43	150.21
Capital Expenditures Full definition →	(22.54)	(59.55)	(92.36)	(46.65)	(73.23)	(31.91)	(33.83)	(51.26)	(32.08)	(41.45)
Net Current Asset Value Full definition →	188.95	167.94	221.24	332.06	310.58	(95.01)	(173.39)	(127.92)	(79.02)	(24.13)
EV/EBIT Full definition →	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Capex to Sales Full definition →	0.14	0.53	0.75	0.36	1.05	0.45	0.56	0.57	0.34	0.38
Price to Operating Income Full definition →	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Other line items
Depreciation/Fixed assets Full definition →	0.42	0.28	0.28	0.37	0.50	0.53	0.30	0.18	0.20	0.22
Cash ROIC Full definition →	(13.48%)	(19.60%)	(19.56%)	(12.71%)	(12.23%)	(13.07%)	(32.09%)	(16.14%)	(42.04%)	(29.96%)
Accounts Receivable Turnover Full definition →	3.11	3.26	6.85	6.60	3.37	4.96	3.57	1.95	2.05	2.54
Accounts Payable Turnover Full definition →	9.32	6.03	4.90	6.74	5.91	5.93	4.15	2.65	3.04	6.35
Inventory Turnover Full definition →	1.85	1.49	1.53	2.03	1.44	1.49	1.52	1.35	1.25	1.56
Average Days of Payables Full definition →	33.64	55.68	72.27	64.30	82.52	44.47	75.40	95.51	167.38	62.09
Days of Inventory on Hand Full definition →	170.46	280.32	230.17	207.31	287.27	236.71	242.60	226.48	292.59	248.04
Average Receivables Full definition →	50.80	34.35	18.00	19.78	20.63	14.29	17.01	45.78	46.56	42.69
Average Payables Full definition →	19.80	24.55	27.36	23.73	14.42	13.26	19.77	32.61	30.55	17.11
Average Inventory Full definition →	99.95	99.08	87.68	78.99	59.02	52.74	54.05	64.04	74.15	69.78
Average Assets Full definition →	938.14	949.82	947.62	907.48	699.39	428.49	336.93	362.10	362.26	308.98
Average Common Equity Full definition →	669.45	684.03	695.97	666.97	418.49	135.14	78.97	91.73	107.83	104.58

Fold the line items

Columns are period end dates

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