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NASDAQ:FCEL

Fuelcell Energy Inc.

Fuelcell Energy Inc.'s revenue grew 41.0% in fiscal 2025 to $158.2M while operating margin rose to −121.6%. Free cash flow was −$143.9M, −91.0% of revenue, and the diluted share count rose 56.0%.Summary generated from Fuelcell Energy Inc.'s SEC filings. Latest annual report filed Dec 18, 2025.

Revenue (FY25)$158.2M
Revenue growth+41.0%
Revenue, 5-yr CAGR+17.4%
Gross margin−16.7%
Operating margin−121.6%
Net margin−118.8%
ROIC−26.6%
Return on equity−28.5%
Debt / equity0.18
Free cash flow−$143.9M
FCF margin−91.0%
Share count change+56.0%

Financials

Fiscal years, $M
Item20212022202320242025
Revenue70130123112158
Operating income−65−144−136−158−192
Net income−101−143−108−126−188
Free cash flow−77−133−180−201−144

Recent filings

From SEC EDGAR

Peers

Electrical industrial apparatus