# FuelCell Energy Inc. (FCEL) fundamentals

Data as of 2026-09-08. NASDAQ, United States. Sector: Industrials / Electrical Equipment & Parts. Price $14.95, market value $1.2 billion.

## Valuation
- **P/E (trailing): n/a** (negative earnings). FuelCell Energy Inc. reported negative earnings over the last twelve months, so the P/E is not meaningful; use price-to-sales, EV/EBITDA and free-cash-flow yield instead.
- **Price / sales: 7.8×**. Each dollar of revenue is priced at 7.8×.
- **Price / book: 1.3×**. The shares trade at 1.3× book value; book value is a meaningful part of the valuation.
- **Free-cash-flow yield: -8.5%** (5-yr avg -47.0%). Free cash flow is negative: the business is consuming cash, which is normal for heavy investment phases but a warning otherwise.

## Profitability
- **Operating margin: -116.3%**. Operating margin is negative: the business loses money before interest and tax.
- **Net margin: -118.8%**. The company reported a net loss over the last twelve months.
- **Return on equity: -28.4%**. Return on equity is negative because earnings are negative.
- **Return on invested capital: -35.4%**. Return on all capital, debt included, is -35.4%: close to or below the cost of capital, so growth may not create value.
- **Return on assets: -18.8%**. Each dollar of assets produces -18.8% of profit.

## Growth
- **Revenue growth (1 yr): 41.0%** (3-yr 6.6%/yr, 5-yr 17.4%/yr). Revenue grew 41.0% over the last year, against 17.4% a year compounded over five years: growth is accelerating.
- **EPS growth (1 yr): 5.2%**. Earnings per share rose 5.2%, slower than revenue, so margins compressed.

## Financial health
- **Debt to equity: 0.02**. Debt is 0.02 times equity: a conservative balance sheet.
- **Net debt / EBITDA: 1.9×**. It would take 1.9 years of operating earnings to repay net borrowings, within the comfortable range.
- **Altman Z-score: 4.05**. A Z-score of 4.05 places the company in the safe zone for bankruptcy risk.
- **Piotroski F-score: 2/9**. 2 of 9 checks pass: weak or deteriorating financials.

## Dividends
- **Dividend: none**. FuelCell Energy Inc. does not currently pay a dividend.

## Price and momentum
- **Total return (1 yr): 281.4%** (YTD 104.5%, 3-mo -13.7%). The shares are up 281.4% over twelve months including dividends.
- **From 52-week high: -60.5%** (271.0% above the low). Trading 61% below its 52-week high, deep in a drawdown.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 36**. An RSI of 36 is neutral.
- **Beta (1 yr): 3.67** (volatility 138%). Beta of 3.67 against the S&P 500: the shares move much more than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=FCEL · Page: https://foliofundamentals.com/stocks/fcel

Not investment advice.