Stocks · Industrials · Electrical Equipment & Parts
FuelCell Energy, Inc. FCEL
$18.47 +11.47% Close, Oct 2, 2026 · NASDAQ · Market cap $1.48B
Strong trendExpensive vs sector
Next earnings report: Dec 17, 2026
Scroll or pinch to zoom, drag to move. Daily prices adjusted for splits. Markers: E = earnings (green beat, red miss), S = split, D = dividend.
Three things to know
- Operating margin widened to -70.1% from -134.5% a year earlier.
- The diluted share count rose 188.1% in a year.
- Over the past year the stock returned +111.6%, ahead of the S&P 500 by 96.5 percentage points.
PromtFinance scores
Each score is a percentile within the Industrials sector (0–100). Under each score: how the stock ranks in its sector on every component. As of Oct 5, 2026.
How fast revenue, earnings and cash flow are growing.
- Revenue growth (TTM, YoY)Bottom 24%
- Revenue growth, 3-year CAGRTop 40%
- Revenue growth accelerationBottom 3%
Returns on capital, margins, earnings quality and balance-sheet strength.
- Return on invested capitalBottom 14%
- Gross marginBottom 2%
- Operating marginBottom 7%
- Accruals (lower is better)Top 33%
- Interest coverBottom 11%
How cheap the shares are relative to earnings, cash flow and their own history.
- Earnings yieldBottom 14%
- Free-cash-flow yieldBottom 17%
- EBITDA / enterprise valueBottom 8%
- Sales / enterprise valueBottom 12%
Strength and persistence of the price trend, including versus the S&P 500.
- 12-month return excluding last monthTop 10%
- 6-month returnTop 1%
- 1-year return vs S&P 500Top 4%
- Distance from 52-week highBottom 18%
- Trend checklist (0–4)Top 27%
Earnings surprises and analyst sentiment (estimate-revision history is being collected).
- Average EPS surprise, last 4 quartersBottom 27%
- Consecutive EPS beatsBottom 16%
- Share of analysts rating BuyBottom 23%
- Upside to consensus price targetBottom 27%
Low volatility, shallow drawdowns, low market sensitivity and modest leverage.
- Volatility, 60 days (lower is better)Bottom 2%
- Maximum drawdown, 3 yearsBottom 4%
- Beta vs S&P 500 (lower is better)Top 18%
What changed
Latest four quarters versus the same period a year earlier (growth: versus one quarter earlier).
| Measure | Before | Now | |
|---|---|---|---|
| Revenue growth (YoY) | 29.7% | 1.1% | ↓ |
| Gross margin | -20.1% | -32.4% | ↓ |
| Operating margin | -134.5% | -70.1% | ↑ |
| FCF margin | -84.4% | -69.4% | ↑ |
Fundamental momentum
| Measure | Now (TTM) | Year / quarter before | Sector rank | |
|---|---|---|---|---|
| Revenue growth (TTM, YoY) | 1.1% | 29.7% | ↓ | Bottom 24% |
| Gross margin | -32.4% | -20.1% | ↓ | Bottom 2% |
| Operating margin | -70.1% | -134.5% | ↑ | Bottom 7% |
| Net margin | -113.9% | -131.3% | ↑ | — |
| Free-cash-flow margin | -69.4% | -84.4% | ↑ | — |
| Return on invested capital | -8.6% | — | Bottom 14% | |
| Revenue growth, 3-year CAGR | 6.6% | — | Top 40% |
Quality of earnings and balance sheet
- Accruals (net income − OCF) / assetsLower is better; high accruals can signal weaker earnings quality.
- -6.0%
- Stock-based compensation / revenueA cost to shareholders through dilution.
- 6.4%
- Receivables growth vs revenue growthReceivables growing much faster than sales can be a warning.
- -15.4 pp
- Net debt / EBITDABelow 1× is conservative; above 3× is high leverage.
- Net cash
- Interest cover (operating income / interest)How many times operating profit covers interest.
- -9.7×
Shareholder returns
- Dividend yield (dividends paid, TTM)
- 0.05%
- Net buyback yield (TTM)
- -39.80%
- Shareholder yield
- -39.74%
- Share count change, 1 year
- +188.1%
- Share count change, 3-year CAGR
- +26.7%
Shareholder yield = dividends + net buybacks over the last four quarters, divided by market cap.
Based on the four quarters through Jul 31, 2026 (filed Sep 2, 2026).
Earnings and expectations
Earnings momentum
- Consecutive EPS beats
- 0
- Beats in the last 8 reports
- 3 of 8
- Average EPS surprise, last 4
- -4.8%
- Average 2-day reaction, last 8
- +4.8%
- Positive 20 days after report
- 4 of 8
Analysts
- Consensus price target
- $21.57
- Target vs current price
- +16.8%
- Analysts with a rating
- 20
- Share rating Buy or Strong Buy
- 40%
- Consensus rating
- Hold
How the stock reacted to recent reports
| Report date | EPS surprise | 2 days | 5 days | 20 days | 60 days |
|---|---|---|---|---|---|
| Sep 2, 2026 | -55.1% | -15.7% | -3.0% | -3.9% | — |
| Jun 8, 2026 | -2.0% | -10.6% | -2.3% | +49.8% | -1.4% |
| Mar 9, 2026 | +23.5% | -2.9% | -12.8% | -12.2% | +224.2% |
| Dec 18, 2025 | +14.4% | +22.0% | +11.0% | +1.8% | -11.0% |
| Sep 9, 2025 | -162.1% | +22.7% | +56.2% | +151.2% | +64.2% |
| Jun 6, 2025 | -24.9% | +24.4% | +21.5% | +0.2% | -22.7% |
| Mar 11, 2025 | +6.6% | +3.6% | -3.3% | -30.6% | -10.9% |
| Dec 19, 2024 | -27.6% | -5.0% | +7.9% | -8.6% | -44.8% |
Returns from the close before each report. Past reactions do not determine future ones.
Earnings history
| Report date | EPS | Estimate | Surprise | Revenue |
|---|---|---|---|---|
| Sep 2, 2026 | -$0.64 | -$0.41 | -55.1% | $33.0M |
| Jun 8, 2026 | -$0.53 | -$0.52 | -2.0% | $35.6M |
| Mar 9, 2026 | -$0.52 | -$0.68 | +23.5% | $30.5M |
| Dec 18, 2025 | -$0.83 | -$0.97 | +14.4% | $55.0M |
| Sep 9, 2025 | -$3.78 | -$1.44 | -162.1% | $46.7M |
| Jun 6, 2025 | -$1.79 | -$1.43 | -24.9% | $37.4M |
| Mar 11, 2025 | -$1.42 | -$1.52 | +6.6% | $19.0M |
| Dec 19, 2024 | -$2.21 | -$1.73 | -27.6% | $49.3M |
Valuation in context
| Multiple | Now | 5-year median | 5-year percentile | Sector rank (cheapness) |
|---|---|---|---|---|
| EV / Sales | 6.47× | — | — | Bottom 12% |
| Free-cash-flow yield | -7.25% | — | — | Bottom 17% |
| Earnings yield | -18.57% | — | — | Bottom 14% |
Technical state
Trend checklist
- ✓ Price above 20-day average
- ✗ Price above 50-day average
- ✓ Price above 200-day average
- ✓ 50-day average above 200-day
- ✓ MACD histogram positive
Trend quality
- Days above the 50-day average
- 0
- Days above the 200-day average
- 120
- 50-day average slope (20 days)
- -13.3%
- 200-day average slope (20 days)
- +7.0%
- Distance from 50-day average
- -0.5%
- Distance from 200-day average
- +29.0%
- RSI (14)
- 55.5
- Relative volume
- 1.28×
Risk and drawdowns
- Volatility, 60 days (annualized)
- 123.4%
- Volatility vs own 5-year history
- 88th percentile · High for this stock
- Beta vs S&P 500 (2 years, weekly)
- 0.68
- Correlation with S&P 500
- 0.08
- Current drawdown from 1-year high
- -48.7%
- Maximum drawdown, 3 years
- -93.0%
Largest declines in the past six years
| From peak | To low | Decline | Length | Recovery |
|---|---|---|---|---|
| Feb 9, 2021 | Apr 22, 2025 | -99.6% | 1054 days | Not yet recovered |
| Nov 30, 2020 | Dec 2, 2020 | -29.0% | 2 days | 14 days (Dec 22, 2020) |
| Sep 29, 2020 | Oct 5, 2020 | -26.2% | 4 days | 4 days (Oct 9, 2020) |
| Oct 9, 2020 | Oct 30, 2020 | -23.7% | 15 days | 8 days (Nov 11, 2020) |
| Dec 23, 2020 | Jan 4, 2021 | -20.9% | 6 days | 3 days (Jan 7, 2021) |
Declines of 10% or more from a closing high, measured on daily closes.
Financial statements
- Market cap
- $1.48B
- EPS, diluted (TTM)
- -$3.43
- Revenue (TTM)
- $154.1M
- 52-week range
- $5.71 – $37.88
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Revenue | $69.6M | $130.5M | $123.4M | $112.1M | $158.2M |
| Gross profit | -$15.6M | -$29.6M | -$10.5M | -$35.9M | -$26.4M |
| Operating income | -$64.9M | -$143.7M | -$136.1M | -$155.9M | -$121.2M |
| Net income | -$101.0M | -$142.7M | -$107.6M | -$126.0M | -$187.9M |
| EPS (diluted) | -$0.30 | -$11.40 | -$0.26 | -$7.83 | -$7.42 |
| Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | Q3 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $49.3M | $19.0M | $37.4M | $46.7M | $55.0M | $30.5M | $35.6M | $33.0M |
| Net income | -$41.4M | -$29.1M | -$38.0M | -$91.7M | -$29.9M | -$23.7M | -$77.6M | -$44.5M |
| EPS (diluted) | -$2.21 | -$1.42 | -$1.79 | -$3.78 | -$0.85 | -$0.49 | -$1.45 | -$0.64 |
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Operating cash flow | -$70.4M | -$112.2M | -$140.3M | -$152.9M | -$125.3M |
| Capital expenditure | -$73.2M | -$46.7M | -$92.4M | -$59.6M | -$22.5M |
| Free cash flow | -$143.7M | -$158.8M | -$232.6M | -$212.5M | -$147.8M |
| Dividends paid | $0 | $0 | $0 | $0 | $0 |
| Net share buybacks | $526.8M | $183.6M | $97.5M | $92.7M | $185.7M |
Cash outflows are shown as negative numbers.
- Cash and short-term investments
- $658.1M
- Total assets
- $1.31B
- Total liabilities
- $328.3M
- Total debt
- $178.7M
- Net debt
- -$479.4M
- Shareholders’ equity
- $975.1M
As of Jul 31, 2026 (filed Sep 2, 2026).
Dividends
| Ex-date | Amount | Paid |
|---|---|---|
| Feb 17, 1999 | $7.99 | — |
Short interest
- Shares sold short
- 24,900,440
- Days to cover
- 3.23
- Change vs previous report
- +23.9%
FINRA short interest, settlement date Sep 15, 2026.
Stock splits
- May 9, 2019
- 1-for-12
- Dec 4, 2015
- 1-for-12
- Jun 20, 2001
- 2-for-1
- Sep 14, 2000
- 2-for-1
- Nov 17, 1999
- 3-for-2