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FCEL 
FuelCell Energy Inc (FCEL)
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Upturn Advisory Summary
12/02/2025: FCEL (1-star) is currently NOT-A-BUY. Pass it for now.
Upturn Star Rating
Not Recommended Performance
These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.
Number of Analysts
8 Analysts rated it
Limited analyst coverage, niche firm, research info may be scarce.
1 Year Target Price $7.84
1 Year Target Price $7.84
| 0 | Strong Buy |
| 0 | Buy |
| 6 | Hold |
| 1 | Sell |
| 1 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit -48.52% | Avg. Invested days 23 | Today’s Advisory PASS |
Upturn Star Rating | Upturn Advisory Performance  2.0 | Stock Returns Performance  1.0 |
| Profits based on simulation | Last Close 12/02/2025 |
Key Highlights
Company Size Small-Cap Stock | Market Capitalization 330.39M USD | Price to earnings Ratio - | 1Y Target Price 7.84 |
Price to earnings Ratio - | 1Y Target Price 7.84 | ||
Volume (30-day avg) 8 | Beta 1.15 | 52 Weeks Range 3.58 - 13.98 | Updated Date 12/2/2025 |
52 Weeks Range 3.58 - 13.98 | Updated Date 12/2/2025 | ||
Dividends yield (FY) - | Basic EPS (TTM) -9.49 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Revenue by Geography
Geography revenue - Year on Year
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin -130.81% | Operating Margin (TTM) -57.43% |
Management Effectiveness
Return on Assets (TTM) -9.21% | Return on Equity (TTM) -29.43% |
Valuation
Trailing PE - | Forward PE - | Enterprise Value 338382914 | Price to Sales(TTM) 2.17 |
Enterprise Value 338382914 | Price to Sales(TTM) 2.17 | ||
Enterprise Value to Revenue 2.22 | Enterprise Value to EBITDA -4.19 | Shares Outstanding 47676043 | Shares Floating 32244449 |
Shares Outstanding 47676043 | Shares Floating 32244449 | ||
Percent Insiders 0.15 | Percent Institutions 24.92 |
Upturn AI SWOT
FuelCell Energy Inc
Company Overview
History and Background
FuelCell Energy Inc. was founded in 1969 as Energy Research Corporation and was renamed FuelCell Energy in 1992. It develops, manufactures, installs, operates, and services fuel cell power plants.
Core Business Areas
- Service Agreements: Recurring revenue stream from servicing existing fuel cell installations. Includes maintenance, monitoring, and performance guarantees.
- Power Generation: Revenue generated from electricity sales from FuelCell Energy-owned power plants. Focuses on grid-scale power generation.
- Equipment Sales: Sale of fuel cell power plants to various customers including utilities, industrial companies, and municipalities. These are DFC power plants that generate power and heat.
Leadership and Structure
The CEO is Jason Few. The company has a typical corporate structure with departments focused on engineering, sales, operations, finance, and marketing. There is a board of directors to oversee strategy.
Top Products and Market Share
Key Offerings
- DFC (Direct FuelCell) Power Plants: These are FuelCell Energy's core product, generating electricity and heat from natural gas or biogas through an electrochemical process. Market share data is challenging to pinpoint exactly, but they compete in a niche market segment of distributed generation fuel cells. Competitors include Bloom Energy and Cummins (formerly Hydrogenics).
- SureSource Modules: Modular fuel cell systems that can be scaled to meet specific power needs. Market Share data is limited, but these products are often used in microgrid and combined heat and power (CHP) applications. The competitors are the same as DFC Power Plants.
Market Dynamics
Industry Overview
The fuel cell industry is growing due to increasing demand for clean energy, government incentives, and technological advancements. Distributed generation and microgrids are key growth areas.
Positioning
FuelCell Energy focuses on large-scale distributed generation and combined heat and power applications. Their competitive advantage lies in their ability to use various fuels including natural gas and biogas.
Total Addressable Market (TAM)
The global fuel cell market is projected to reach billions of dollars. FuelCell Energy is positioned to capture a portion of this market through its large-scale fuel cell solutions.
Upturn SWOT Analysis
Strengths
- Established Technology
- Diverse Fuel Capability
- Strong Service Business
- Combined Heat and Power (CHP) Capability
- Experienced Management Team
Weaknesses
- History of Net Losses
- High Debt Levels
- Reliance on Government Subsidies
- Limited Market Share Compared to Competitors
- Supply Chain Constraints
Opportunities
- Growing Demand for Clean Energy
- Government Incentives and Policies
- Expansion into New Markets
- Development of New Applications (e.g., hydrogen production)
- Increased Adoption of Microgrids
Threats
- Competition from Other Renewable Energy Sources
- Fluctuations in Natural Gas Prices
- Changes in Government Regulations
- Technological Advancements by Competitors
- Economic Downturns
Competitors and Market Share
Key Competitors
- BE
- CLSK
- PLUG
Competitive Landscape
FuelCell Energy faces strong competition from Bloom Energy and Plug Power. FCEL needs to reduce debt and improve profitability.
Growth Trajectory and Initiatives
Historical Growth: FuelCell Energy's historical growth has been uneven due to fluctuations in demand and project delays.
Future Projections: Analyst estimates suggest potential revenue growth in the coming years, driven by increased adoption of fuel cell technology.
Recent Initiatives: Recent initiatives include expanding manufacturing capacity, focusing on hydrogen production, and securing new project contracts.
Summary
FuelCell Energy operates in a growing market but faces financial challenges. It needs to continue to innovate, secure new contracts, and manage its debt effectively. The company's diverse fuel capabilities and CHP offerings are key strengths. Competition and changes in regulations are threats.
Similar Stocks
Sources and Disclaimers
Data Sources:
- SEC Filings
- Company Website
- Analyst Reports
- Market Research Reports
Disclaimers:
This analysis is for informational purposes only and should not be considered investment advice. Market conditions and company performance can change rapidly.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About FuelCell Energy Inc
Exchange NASDAQ | Headquaters Danbury, CT, United States | ||
IPO Launch date 1992-06-25 | President, CEO & Director Mr. Jason B. Few | ||
Sector Industrials | Industry Electrical Equipment & Parts | Full time employees 584 | Website https://www.fuelcellenergy.com |
Full time employees 584 | Website https://www.fuelcellenergy.com | ||
FuelCell Energy, Inc., together with its subsidiaries, manufactures and sells stationary fuel cell and electrolysis platforms that decarbonize power and produce hydrogen. The company provides various configurations and applications of its platform, including on-site power, utility grid support, and microgrid, as well as distributed hydrogen; solid oxide-based electrolysis; solutions for long duration hydrogen-based energy storage and electrolysis technology; and carbon capture, separation, and utilization systems. It also offers technology to produce electricity, heat, clean hydrogen, and water. In addition, the company provides turn-key solutions, including development, engineering, procurement, construction, interconnection, and operation services. It serves various markets, including utilities and independent power producers, data centers and communication, wastewater treatment, government, commercial and hospitality, food and beverage, microgrids, manufacturing, pharmaceutical processing, universities, healthcare facilities, industrial hydrogen, port, oil and gas, wind and solar projects, and hydrogen for mobility and material handling, as well as engineering, procurement, and construction firms. The company primarily operates in the United States, South Korea, Europe, and Canada. FuelCell Energy, Inc. was founded in 1969 and is headquartered in Danbury, Connecticut.
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