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FuelCell Energy Inc (FCEL) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

INDUSTRIALS · ELECTRICAL EQUIPMENT & PARTS · DATA UPDATED 2026-09-16

FuelCell Energy Inc (FCEL) operates in the ELECTRICAL EQUIPMENT & PARTS industry and is headquartered in Danbury, United States with about 424 employees. Its market capitalization is roughly $896 million. In the fiscal year ended 2025-10-31, FCEL reported $158M in revenue and ($188M) in net income.

FuelCell Energy, Inc., a clean energy technology company, engages in the design, development, production, construction, operation, and servicing of high temperature fuel cells for clean electric power generation.

Interactive charts & full statements → Open the FCEL valuation workbench →

FCEL Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-07-31	2025-10-31	2024-10-31	2023-10-31	2022-10-31	2021-10-31	2020-10-31	2019-10-31	2018-10-31	2017-10-31	2016-10-31	2015-10-31	2014-10-31	2013-10-31	2012-10-31	2011-10-31	2010-10-31	2009-10-31	2008-10-31	2007-10-31	2006-10-31
Total Revenue	$155M	$158M	$112M	$123M	$130M	$70M	$71M	$61M	$89M	$96M	$108M	$163M	$180M	$188M	$121M	$123M	$70M	$88M	$101M	$48M	$33M
Gross Profit	($51M)	($26M)	($36M)	($11M)	($30M)	($16M)	($8M)	($21M)	$3M	$3M	$0M	$13M	$14M	$7M	$0M	($13M)	($19M)	($30M)	($49M)	($27M)	($39M)
Gross Margin %	-32.9%	-16.7%	-32.0%	-8.5%	-22.7%	-22.5%	-10.9%	-35.0%	3.5%	2.9%	-0.3%	7.8%	7.6%	3.8%	0.4%	-10.3%	-26.7%	-34.4%	-49.0%	-56.0%	-115.9%
Operating Income (EBIT)	($108M)	($121M)	($156M)	($136M)	($144M)	($65M)	($39M)	($67M)	($45M)	($45M)	($46M)	($29M)	($27M)	($30M)	($32M)	($46M)	($54M)	($67M)	($93M)	($73M)	($81M)
Operating Margin %	-69.7%	-76.6%	-139.1%	-110.3%	-110.1%	-93.3%	-55.3%	-110.2%	-49.9%	-47.0%	-42.8%	-17.7%	-15.2%	-15.9%	-26.6%	-37.3%	-77.9%	-76.1%	-92.1%	-151.7%	-243.4%
Net Income	($176M)	($188M)	($126M)	($108M)	($143M)	($101M)	($89M)	($78M)	($47M)	($54M)	($51M)	($29M)	($38M)	($34M)	($35M)	($46M)	($53M)	($69M)	($93M)	($69M)	($76M)
Net Margin %	-113.5%	-118.8%	-112.4%	-87.2%	-109.4%	-145.2%	-125.7%	-127.7%	-52.9%	-56.3%	-47.1%	-18.0%	-21.1%	-18.3%	-29.4%	-37.3%	-76.4%	-78.7%	-92.7%	-142.4%	-228.6%
EBITDA	($130M)	($140M)	($111M)	($75M)	($119M)	($74M)	($54M)	($55M)	($33M)	($37M)	($41M)	($22M)	($30M)	($27M)	($28M)	($36M)	($49M)	($60M)	($83M)	($64M)	($72M)
Earnings Per Share (EPS)	$-3.38	$-7.30	$-5.77	$-3.08	$-4.47	$-3.62	$-4.82	$-1.41	$-6.86	$-12.96	$-20.54	$-14.37	$-22.35	$-26.52	$-30.89	$-52.87	$-53.00	$-69.00	$-196.05	$-159.53	$-214.69
Shares Outstanding (M)	70M	26M	22M	35M	32M	28M	18M	55M	7M	4M	2M	2M	2M	1M	1M	1M	1M	1M	0M	0M	0M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

FCEL Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-07-31	2026-04-30	2026-01-31	2025-10-31	2025-07-31	2025-04-30	2025-01-31	2024-10-31
Total Revenue	$33M	$36M	$31M	$55M	$47M	$37M	$19M	$49M
Gross Profit	($25M)	($13M)	($6M)	($7M)	($5M)	($9M)	($5M)	($11M)
Gross Margin %	-74.2%	-36.3%	-19.2%	-12.0%	-11.0%	-25.2%	-27.4%	-22.1%
Operating Income (EBIT)	($47M)	($78M)	($26M)	$43M	($95M)	($36M)	($33M)	($41M)
Operating Margin %	-141.4%	-218.9%	-86.1%	77.8%	-204.0%	-95.7%	-172.9%	-83.2%
Net Income	($44M)	($78M)	($24M)	($30M)	($92M)	($38M)	($29M)	($41M)
Net Margin %	-134.7%	-218.1%	-77.5%	-54.3%	-196.1%	-101.7%	-153.3%	-84.0%
EBITDA	($33M)	($67M)	($13M)	($17M)	($80M)	($24M)	($20M)	($28M)
Earnings Per Share (EPS)	$-0.63	$-1.43	$-0.49	$-0.83	$-3.75	$-1.75	$-1.42	$-1.90
Shares Outstanding (M)	70M	54M	48M	36M	24M	22M	21M	22M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

FCEL Free Cash Flow History

Cash flow	TTM → 2026-07-31	2025-10-31	2024-10-31	2023-10-31	2022-10-31	2021-10-31	2020-10-31	2019-10-31	2018-10-31	2017-10-31	2016-10-31	2015-10-31	2014-10-31	2013-10-31	2012-10-31	2011-10-31	2010-10-31	2009-10-31	2008-10-31	2007-10-31	2006-10-31
Cash from Operations (CFO)	($96M)	($125M)	($153M)	($140M)	($112M)	($70M)	($37M)	($31M)	$16M	($72M)	($47M)	($44M)	($57M)	($17M)	($59M)	($8M)	($35M)	($65M)	($61M)	($56M)	($48M)
Capital Expenditures (CapEx)	$12M	$23M	$60M	$92M	$47M	$73M	$32M	$34M	$51M	$32M	$8M	$7M	$6M	$7M	$4M	$3M	$2M	$3M	$7M	$4M	$11M
Free Cash Flow (FCF)	($108M)	($148M)	($212M)	($233M)	($159M)	($144M)	($69M)	($64M)	($35M)	($104M)	($54M)	($51M)	($64M)	($23M)	($63M)	($12M)	($37M)	($68M)	($69M)	($60M)	($60M)
FCF Margin %	-69.7%	-93.5%	-189.5%	-188.5%	-121.7%	-206.5%	-96.9%	-106.0%	-39.1%	-108.6%	-50.2%	-31.4%	-35.4%	-12.4%	-52.3%	-9.7%	-53.7%	-77.0%	-68.3%	-125.2%	-179.3%
Dividends Paid	$4M	$3M	$3M	$3M	$3M	$3M	$6M	$2M	$4M	$4M	$4M	$4M	$4M	$4M	$8M	$15M	$4M	$4M	$4M	$4M	$9M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

FCEL Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2026-07-31	2026-04-30	2026-01-31	2025-10-31	2025-07-31	2025-04-30	2025-01-31	2024-10-31
Cash from Operations (CFO)	($12M)	($27M)	($34M)	($23M)	($27M)	($30M)	($46M)	$6M
Capital Expenditures (CapEx)	$7M	$1M	$3M	$1M	$9M	$5M	$7M	$11M
Free Cash Flow (FCF)	($19M)	($28M)	($37M)	($24M)	($36M)	($35M)	($53M)	($5M)
FCF Margin %	-58.7%	-78.1%	-120.9%	-43.6%	-76.4%	-93.8%	-279.4%	-9.7%
Dividends Paid	$1M	$1M	$1M	$1M	$1M	$1M	$1M	$1M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

FCEL Balance Sheet History

Balance sheet	2026-07-31	2025-10-31	2024-10-31	2023-10-31	2022-10-31	2021-10-31	2020-10-31	2019-10-31	2018-10-31	2017-10-31	2016-10-31	2015-10-31	2014-10-31	2013-10-31	2012-10-31	2011-10-31	2010-10-31	2009-10-31	2008-10-31	2007-10-31	2006-10-31
Total Assets	$1.3B	$932M	$944M	$956M	$940M	$875M	$524M	$333M	$340M	$384M	$342M	$277M	$281M	$238M	$191M	$184M	$151M	$163M	$185M	$253M	$207M
Cash & Cash Equivalents	$658M	$278M	$148M	$250M	$458M	$432M	$150M	$9M	$39M	$49M	$84M	$59M	$84M	$68M	$47M	$51M	$20M	$58M	$38M	$93M	$26M
Total Liabilities	$328M	$201M	$217M	$195M	$185M	$170M	$269M	$198M	$163M	$195M	$168M	$123M	$122M	$191M	$118M	$198M	$143M	$116M	$125M	$107M	$95M
Total Debt (Short + Long-Term)	$166M	$132M	$148M	$130M	$97M	$90M	$173M	$112M	$89M	$92M	$87M	$32M	$24M	$64M	$22M	$9M	$5M	$5M	$5M	$1M	$1M
Total Shareholders' Equity	$975M	$722M	$717M	$742M	$744M	$702M	$254M	$136M	$177M	$189M	$174M	$155M	$160M	$47M	$74M	($14M)	$8M	$31M	$47M	$134M	$101M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive FCEL viewer.

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