Fuelcell Energy Inc. (FCEL)
Nasdaq · Electrical Industrial Apparatus · Manufacturing · CIK 886128 · fiscal year ends in Oct
Closing price $12.19 on 29 Oct 2026; 52-week range $6.00 to $36.01.
Key figures
The last twelve months reported, with the latest price and balance sheet.
- Revenue, last twelve months
- $154.1M
- Revenue growth
- 1.1%
- Net income, last twelve months
- -$175.1M
- Earnings per share
- -$3.43
- Gross margin
- -32.4%
- Operating margin
- -116.3%
- Net margin
- -113.6%
- Free cash flow
- -$101.1M
- Return on equity
- -18.0%
- Market value
- $974.6M
- Cash
- $658.1M
- Debt
- $134.8M
- Debt to equity
- 0.14
- Shares outstanding
- 80.0M
Financial statements
Revenue, profit and cash flow by fiscal year, each year linked to its annual report.
| Fiscal year | Year end | Revenue | Operating income | Net income | EPS | Free cash flow | Filing |
|---|---|---|---|---|---|---|---|
| FY2025 | 31 Oct 2025 | $158.2M | -$192.3M | -$187.9M | -$7.42 | -$143.9M | 10-K filed 18 Dec 2025 |
| FY2024 | 31 Oct 2024 | $112.1M | -$158.5M | -$126.0M | -$7.83 | -$200.6M | 10-K filed 27 Dec 2024 |
| FY2023 | 31 Oct 2023 | $123.4M | -$136.1M | -$107.6M | -$0.26 | -$179.6M | 10-K filed 19 Dec 2023 |
| FY2022 | 31 Oct 2022 | $130.5M | -$143.7M | -$142.7M | -$0.38 | -$133.2M | 10-K filed 20 Dec 2022 |
| FY2021 | 31 Oct 2021 | $69.6M | -$64.9M | -$101.1M | -$0.31 | -$76.8M | 10-K filed 29 Dec 2021 |
By quarter
| Quarter | Quarter end | Revenue | Net income | EPS |
|---|---|---|---|---|
| Q3 FY2026 | 31 Jul 2026 | $33.0M | -$44.5M | -$0.64 |
| Q2 FY2026 | 30 Apr 2026 | $35.6M | -$77.9M | -$1.45 |
| Q1 FY2026 | 31 Jan 2026 | $30.5M | -$22.9M | -$0.49 |
| Q4 FY2025 | 31 Oct 2025 | $55.0M | -$29.9M | -$0.85 |
| Q3 FY2025 | 31 Jul 2025 | $46.7M | -$91.7M | -$3.78 |
| Q2 FY2025 | 30 Apr 2025 | $37.4M | -$38.0M | -$1.79 |
| Q1 FY2025 | 31 Jan 2025 | $19.0M | -$28.3M | -$1.42 |
| Q4 FY2024 | 31 Oct 2024 | $49.3M | -$41.4M | -$2.21 |
Revenue by segment
As the company reports it in the segment note of its annual report.
By product, FY2025
| Segment | Revenue | Share |
|---|---|---|
| Product | $69.1M | 43.7% |
| Generation | $48.0M | 30.4% |
| Advanced Technologies | $20.6M | 13.0% |
| Service | $20.4M | 12.9% |
By region, FY2025
| Segment | Revenue | Share |
|---|---|---|
| United States | $82.4M | 52.1% |
| South Korea | $75.2M | 47.6% |
| Europe | $428.0K | 0.3% |
| Canada | $115.0K | 0.1% |
Company events
The newest 8-K filings of 347 held.
| Filed | Form | Event | Items |
|---|---|---|---|
| 28 Oct 2026 | 8-K | Leadership change, Investor update | 5.02, 7.01, 9.01 |
| 7 Oct 2026 | 8-K | Leadership change | 5.02, 9.01 |
| 2 Sep 2026 | 8-K | Results, Investor update | 2.02, 7.01, 9.01 |
| 21 Jul 2026 | 8-K | Other events | 8.01, 9.01 |
| 9 Jul 2026 | 8-K | Material agreement, Investor update | 1.01, 7.01, 9.01 |
| 24 Jun 2026 | 8-K | Material agreement, Share sale, Investor update, Other events | 1.01, 3.02, 7.01, 8.01, 9.01 |
| 8 Jun 2026 | 8-K | Results, Investor update | 2.02, 7.01, 9.01 |
| 21 May 2026 | 8-K | Leadership change, Investor update | 5.02, 7.01, 9.01 |
| 6 Apr 2026 | 8-K | Leadership change, Shareholder vote | 5.02, 5.07, 9.01 |
| 9 Mar 2026 | 8-K | Results, Investor update | 2.02, 7.01, 9.01 |
| 4 Feb 2026 | 8-K | Leadership change | 5.02, 9.01 |
| 7 Jan 2026 | 8-K | Leadership change, Other events | 5.02, 8.01, 9.01 |
Every filing
The newest filings with the SEC of 829 held.
| Filed | Form | Period |
|---|---|---|
| 28 Oct 2026 | 8-K | 26 Oct 2026 |
| 7 Oct 2026 | 8-K | 4 Oct 2026 |
| 2 Sep 2026 | 10-Q | 31 Jul 2026 |
| 2 Sep 2026 | 8-K | 2 Sep 2026 |
| 21 Jul 2026 | 8-K | 21 Jul 2026 |
| 9 Jul 2026 | 8-K | 7 Jul 2026 |
| 24 Jun 2026 | 8-K | 22 Jun 2026 |
| 8 Jun 2026 | S-3ASR | – |
| 8 Jun 2026 | 10-Q | 30 Apr 2026 |
| 8 Jun 2026 | 8-K | 8 Jun 2026 |
| 29 May 2026 | SD | – |
| 21 May 2026 | 8-K | 19 May 2026 |
Insider trades
Form 4 trades by officers, directors and 10% owners, last 12 months.
| Traded | Insider | Type | Shares | Price | Value | Held after | Form 4 |
|---|---|---|---|---|---|---|---|
| 6 Oct 2026 | Achanta Shankar, EVP, Chf. Product &Tech Ofc. | Sale under a trading plan | 2,500 | $18.50 | $46.3K | 118 | 8 Oct 2026 |
| 14 Sep 2026 | Livingston Iii Homer John, Director | Purchase | 16,404 | $15.05 | $247.0K | 42,747 | 15 Sep 2026 |
| 16 Jul 2026 | Livingston Iii Homer John, Director | Purchase | 26,343 | $18.79 | $495.0K | 26,343 | 20 Jul 2026 |
| 6 Jul 2026 | Achanta Shankar, EVP, Chf. Product &Tech Ofc. | Sale under a trading plan | 2,500 | $28.71 | $71.8K | 2,618 | 8 Jul 2026 |
| 20 Apr 2026 | Achanta Shankar, EVP, Chf. Product &Tech Ofc. | Sale under a trading plan | 2,500 | $8.00 | $20.0K | 3,590 | 21 Apr 2026 |
| 22 Dec 2025 | Bingham Betsy B, Director | Sale outside a trading plan | 8,608 | $8.52 | $73.4K | 0 | 23 Dec 2025 |
Planned insider sales
Form 144 notices, filed when the sell order goes to the broker.
| Filed | Seller | Shares | Value | Planned sale |
|---|---|---|---|---|
| 6 Oct 2026 | Achanta Shankar, Officer | 2,500 | $46.3K | 6 Oct 2026 |
| 6 Jul 2026 | Achanta Shankar, Officer | 2,500 | $71.8K | 6 Jul 2026 |
| 20 Apr 2026 | Achanta Shankar, Officer | 2,500 | $20.0K | 20 Apr 2026 |
| 22 Dec 2025 | Bingham Betsy B, Director | 8,608 | $73.4K | 22 Dec 2025 |
Large holders
Schedule 13D and 13G filings by holders of more than 5% of the voting shares.
| Filed | Holder | Schedule | Stake | Shares |
|---|---|---|---|---|
| 15 Oct 2026 | Alex Meruelo | 13G | 7.5% | 6.0M |
| 14 Aug 2026 | Legal & General Group Plc | 13G amended | 3.6% | 2.4M |
| 4 Aug 2026 | Citadel Securities GP LLC | 13G | 3.8% | 3.0M |
| 28 Jul 2026 | BlackRock, Inc. | 13G | 6.2% | 4.2M |
| 13 Jul 2026 | Alex Meruelo | 13G | 4.6% | 3.7M |
| 26 Mar 2026 | The Vanguard Group | 13G amended | 0% | 0 |
| 11 Feb 2026 | Legal & General Group Plc | 13G | 6.1% | 2.9M |
| 30 Jan 2026 | The Vanguard Group | 13G | 5.22% | 2.5M |
Trades by members of the House
From each member's periodic transaction report.
| Traded | Member | Type | Amount | Disclosed |
|---|---|---|---|---|
| 10 Apr 2023 | Daniel Goldman (NY10) | Sale | $1,001 - $15,000 | 19 May 2023 |
| 7 Dec 2020 | Thomas Suozzi (NY03) | Sale | $15,001 - $50,000 | 19 Dec 2022 |
| 2 Dec 2020 | Thomas Suozzi (NY03) | Purchase | $15,001 - $50,000 | 19 Dec 2022 |
| 1 Dec 2020 | Thomas Suozzi (NY03) | Sale | $100,001 - $250,000 | 23 Sep 2021 |
| 25 Nov 2020 | Thomas Suozzi (NY03) | Purchase | $100,001 - $250,000 | 23 Sep 2021 |
| 25 Jan 2019 | Austin Scott (GA08) | Purchase of options | $1,001 - $15,000 | 6 Mar 2019 |
| 5 Mar 2019 | Austin Scott (GA08) | Purchase of options | $1,001 - $15,000 | 6 Mar 2019 |
| 25 Jan 2019 | Austin Scott (GA08) | Sale (partial) | $1,001 - $15,000 | 6 Mar 2019 |
Short interest
Shares sold short and not yet bought back, on each FINRA settlement date.
| Settlement | Shares short | Change | Days to cover |
|---|---|---|---|
| 15 Oct 2026 | 25.8M | +5.5% | 3.23 |
| 30 Sep 2026 | 24.5M | -1.75% | 4.56 |
| 15 Sep 2026 | 24.9M | +23.89% | 3.23 |
| 31 Aug 2026 | 20.1M | +19.55% | 2.71 |
| 14 Aug 2026 | 16.8M | +5.47% | 2.19 |
| 31 Jul 2026 | 15.9M | +5.6% | 1.64 |
| 15 Jul 2026 | 15.1M | +46.94% | 1.11 |
| 30 Jun 2026 | 10.3M | +49.9% | 1 |
Funds that hold it
From each fund's latest Form 13F.
248 funds held it at 30 Jun 2026: 150 added and 38 trimmed in the quarter. The largest:
| Fund | Shares | Value | Change in the quarter |
|---|---|---|---|
| BlackRock, Inc. | 4,311,575 | $155.3M | +3,275,840 |
| Legal & General Group Plc | 2,419,645 | $87.1M | -446,101 |
| Vanguard Capital Management LLC | 2,332,924 | $84.0M | +151,160 |
| State Street Corp. | 2,143,908 | $77.2M | +1,910,356 |
| Two Sigma Investments, LP | 2,061,353 | $74.2M | +780,137 |
| Geode Capital Management, LLC | 1,408,580 | $50.7M | +826,884 |
| Encompass Capital Advisors LLC | 1,365,900 | $49.2M | +1,365,900 |
| UBS Group AG | 1,274,341 | $45.9M | +673,676 |
| Renaissance Technologies LLC | 1,272,500 | $45.8M | +385,900 |
| Anatole Investment Management Ltd | 1,165,501 | $42.0M | +1,165,501 |
Peers
Companies in the same industry.
- Bloom Energy Corp. (BE): revenue $3.8B, market value $65.7B
- Woodward, Inc. (WWD): revenue $4.2B, market value $18.6B
- Plug Power Inc. (PLUG): revenue $744.1M, market value $2.0B