FuelCell Energy, Inc.

FuelCell Energy, Inc.

FCELยทNASDAQ

$21.81

-11%
IndustrialsElectrical Equipment & Parts

FuelCell Energy, Inc., together with its subsidiaries, designs, manufactures, sells, installs, operates, and services stationary fuel cell power plants for distributed baseload power generation. It offers SureSource1500, a 1.4-megawatt (MW) platform; SureSource 3000, a 2.8 MW platform; SureSource 4000, a 3.7 MW platform; SureSource 250, a 250- kilowatt (kW) platform; SureSource 400, a 400-kW platform; and SureSource Hydrogen, a 2.3 MW platform that is designed to produce up to 1,200 kilograms of hydrogen per day for multi-megawatt utility, microgrid, and distributed hydrogen applications, as well as on-site heat and chilling applications. It also provides SureSource Capture system that separates and concentrates carbon dioxide from the flue gases of natural gas, biomass, or coal-fired power plants, as well as industrial facilities; solid oxide fuel cell/solid oxide electrolysis cell stack technology. The company's SureSource power plants generate clean electricity, usable heat, water, and hydrogen. In addition, it provides engineering, procurement, and construction services; project financing services; and real-time monitoring and remote operation, online support system, preventative maintenance, parts and supplies, on-site and classroom training, and power plant refurbishment/recycling services, as well as technical services in the areas of plant operation and performance, and fuel processing. It serves various markets, including utilities and independent power producers, industrial and process applications, education and health care, data centers and communication, wastewater treatment, government, microgrids, food and beverage, and commercial and hospitality. The company primarily operates in the United States, South Korea, England, Germany, and Switzerland. FuelCell Energy, Inc. was founded in 1969 and is headquartered in Danbury, Connecticut.

At a Glance

Live Snapshot
Market Cap$1.16B
EPS-7.4200
P/E Ratio-2.94
Earnings Date06/05/2026
3Y+12.0%
5Y+241.0%
10Y+169.0%
3Y-290.0%
5Y-373.0%
10Y-314.0%
3Y-6.0%
5Y-24.0%
10Y+40.0%
FCEL

FuelCell Energy, Inc. Cash Conversion Engine

FCEL ยท NASDAQ
Net Income-191.37M
Depreciation & Amortization40.40M
Stock-Based Compensation11.09M
Change in Working Capital-49.79M
Others64.38M
Capital Expenditures-22.54M
Free Cash Flow-147.83M

Cash Flow Quality Analysis

FCF Conversion Rate

77.2%

Moderate conversion rate. Some gap between earnings and cash flow may warrant investigation into working capital or non-cash items.

CapEx Intensity

-18.0%

Asset-light business model. Low capital requirements leave more cash available for shareholders and growth investments.

FCF Growth Trend

+30.4%

Strong FCF growth demonstrates improving cash generation and business momentum. Positive signal for sustainability.

Working Capital Impact

-$49.79M

Moderate working capital outflow. Typical for growing businesses, but ensure it's supporting revenue growth, not inefficiency.

Cash Flow Quality Insight

Working capital strain: Significant cash tied up in operations. Monitor receivables collection, inventory turns, and payment terms to optimize cash conversion cycle.

FuelCell Energy, Inc. Cash Flow Statement

FCEL โ€ข NASDAQ

FuelCell Energy, Inc. Cash Flow StatementOct 2025Oct 2024Oct 2023Oct 2022Oct 2021Oct 2020Oct 2019Oct 2018Oct 2017Oct 2016Oct 2015Oct 2014Oct 2013Oct 2012Oct 2011Oct 2010Oct 2009Oct 2008Oct 2007Oct 2006
OPERATING ACTIVITIES
-191.4M
-156.8M
-108.1M
-147.2M
-101M
-89.1M
-77.6M
-47.3M
-53.9M
-51.2M
-29.7M
-38.9M
-35.3M
-35.9M
-46M
-56.3M
-68.7M
-93.4M
-68.7M
-76.1M
40.4M
36.2M
25.4M
21.3M
19.9M
19.4M
12.4M
8.6M
8.5M
4.9M
4.1M
4.4M
4.1M
5.2M
6.4M
7.4M
9.4M
8.8M
9.2M
9.4M
0.0
0.0
0.0
0.0
0.0
38M
20.8M
-3M
672K
-338K
-2.1M
8.2M
1.3M
6.3M
2.7M
1.9M
671K
-1.9M
-2.3M
-3.4M
11.1M
11.8M
12M
6.8M
4.3M
1.9M
2.8M
3.2M
4.6M
3.4M
3.2M
2.9M
2.2M
2.1M
2.6M
3M
4.8M
5.5M
5.2M
4.4M
64.4M
13.8M
-16.5M
8.5M
38.4M
8.2M
6.8M
6.6M
6.4M
3.7M
2.2M
1.7M
2.1M
-117K
340K
2.4M
2.4M
6.1M
4.5M
4.9M
(154K)
(16K)
(6K)
(2K)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
-49.8M
-57.8M
-53M
-1.5M
-31.9M
-15.1M
4.2M
48.3M
-38.1M
-7.1M
-22M
-35.8M
8.9M
-36.1M
25.4M
6.7M
-13.8M
13.4M
-3.9M
12.5M
-125.3M
-152.9M
-140.3M
-112.2M
-70.4M
-36.8M
-30.6M
16.3M
-71.8M
-46.6M
-44.3M
-57.5M
-16.7M
-58.7M
-8.5M
-35M
-65.2M
-61.4M
-56M
-48.4M
INVESTING ACTIVITIES
-22.5M
-59.6M
-92.4M
-46.7M
-73.2M
-31.9M
-33.8M
-10M
-12.4M
-7.7M
-6.9M
-7.1M
-6.6M
-4.5M
-3.4M
-2.5M
-2.6M
-7.4M
-4.4M
-11.3M
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
-611K
-35.5M
(0.0)
(633K)
-3K
(0.0)
(0.0)
(357K)
(0.0)
(0.0)
(30.3M)
-40.4M
(0.0)
(0.0)
-63.1M
-661M
-835.7M
-299.1M
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
-60.3M
-600K
(0.0)
-277.7M
-139.7M
772.4M
835.2M
199.1M
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
12M
0.0
32.5M
41M
0.0
312.1M
202.8M
0.0
0.0
0.0
0.0
0.0
-611K
-35.5M
-41.2M
-19.7M
-33.7M
0.0
0.0
0.0
12M
21.4M
-30.3M
40.4M
11.2M
-2M
63.1M
(88.9M)
-60M
-192.4M
-46.7M
-73.2M
-32.5M
-69.3M
-51.3M
-31.4M
-41.5M
-6.9M
-7.1M
-6.2M
(7.5M)
(18M)
-30.3M
(37.8M)
(3.8M)
(28M)
(51.8M)
FINANCING ACTIVITIES
185.7M
92.7M
97.5M
183.6M
526.8M
173.2M
43.6M
10.5M
39.5M
71.1M
27.2M
106M
5M
64M
32.9M
32M
50.6M
3.2M
98.4M
9.4M
-14.4M
11.4M
52.7M
-9.5M
-88.5M
57.6M
21.2M
-3.5M
9.3M
55.5M
5.2M
-5.7M
44.9M
-173K
3.7M
-377K
199K
3.1M
-84K
-310K
-3.2M
-3.2M
-3.2M
-3.2M
-3.2M
-6.5M
-1.8M
-4.2M
-4.2M
-4.2M
-4.2M
-4.3M
-4.4M
-7.6M
-15.2M
-3.7M
-3.6M
-3.6M
-3.6M
-8.9M
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
-151K
(0.0)
(0.0)
(0.0)
(0.0)
1.2M
21.3M
4.1M
9.7M
-1.7M
-2.7M
-3.3M
-352K
-206K
-1.8M
-1.8M
-15.1M
-1.8M
954K
0.0
0.0
0.0
0.0
0.0
0.0
169.3M
122.2M
151.1M
180.6M
411.9M
221.7M
59.7M
27.7M
72.3M
120.7M
26.5M
80.8M
43.6M
57.2M
21.4M
27.9M
47.2M
2.6M
94.7M
156K
CASH FLOW SUMMARY
77K
111K
80K
-933K
-80K
-92K
-244K
12K
129K
-35K
-108K
-260K
35K
51K
4K
13K
-2K
0.0
0.0
0.0
132.9M
-90.7M
-181.5M
20.8M
268.2M
152.3M
-40.5M
-7.2M
-30.9M
32.6M
-24.9M
16M
20.8M
6.1M
30.9M
-37.4M
19.8M
-55M
66.8M
3.5M
208.9M
299.6M
481M
460.2M
192.1M
39.8M
80.2M
87.4M
118.3M
85.7M
83.7M
67.7M
46.9M
51.4M
20.5M
57.8M
38M
93M
26.2M
22.7M
341.8M
208.9M
299.6M
481M
460.2M
192.1M
39.8M
80.2M
87.4M
118.3M
58.9M
83.7M
67.7M
57.5M
51.4M
20.5M
57.8M
38M
93M
26.2M
-147.8M
-212.5M
-232.6M
-158.8M
-143.7M
-68.7M
-64.4M
6.3M
-84.2M
-54.3M
-51.2M
-64.5M
-23.2M
-63.1M
-11.8M
-37.5M
-67.8M
-68.8M
-60.4M
-59.7M

SEC Filings

FCEL - Filing history and reports

Filing TypeFiling DatePeriod EndingFiscal YearActions
8-K

8-K 2026

N/A

May 21, 2026
May 19, 2026
2026
8-K

8-K 2026

N/A

April 06, 2026
April 02, 2026
2026
10-Q

10-Q 2026 Q1

Q1

March 09, 2026
January 31, 2026
2026
8-K

8-K 2026

N/A

March 09, 2026
March 09, 2026
2026
DEF 14A

DEF 14A 2026

N/A

February 18, 2026
April 02, 2026
2026
8-K

8-K 2026

N/A

February 04, 2026
February 03, 2026
2026
8-K

8-K 2026

N/A

January 07, 2026
January 05, 2026
2026
8-K

8-K 2025

N/A

December 30, 2025
December 30, 2025
2025
8-K

8-K 2025

N/A

December 18, 2025
December 18, 2025
2025
10-K

10-K 2025 FY

FY

December 18, 2025
October 31, 2025
2025
Showing 1 to 10 of 591 filings