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FuelCell Energy Inc (FCEL)



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Upturn Advisory Summary
08/28/2025: FCEL (1-star) is currently NOT-A-BUY. Pass it for now.
1 Year Target Price $7.38
1 Year Target Price $7.38
0 | Strong Buy |
0 | Buy |
6 | Hold |
1 | Sell |
1 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit -55.54% | Avg. Invested days 22 | Today’s Advisory PASS |
Upturn Star Rating ![]() ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Small-Cap Stock | Market Capitalization 98.91M USD | Price to earnings Ratio - | 1Y Target Price 7.38 |
Price to earnings Ratio - | 1Y Target Price 7.38 | ||
Volume (30-day avg) 8 | Beta 4.14 | 52 Weeks Range 3.58 - 16.20 | Updated Date 08/28/2025 |
52 Weeks Range 3.58 - 16.20 | Updated Date 08/28/2025 | ||
Dividends yield (FY) - | Basic EPS (TTM) -7.5 |
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 2025-09-03 | When Before Market | Estimate - | Actual - |
Profitability
Profit Margin -108.52% | Operating Margin (TTM) -95.72% |
Management Effectiveness
Return on Assets (TTM) -9.58% | Return on Equity (TTM) -20.83% |
Valuation
Trailing PE - | Forward PE - | Enterprise Value 132222640 | Price to Sales(TTM) 0.76 |
Enterprise Value 132222640 | Price to Sales(TTM) 0.76 | ||
Enterprise Value to Revenue 1.02 | Enterprise Value to EBITDA -4.19 | Shares Outstanding 22790900 | Shares Floating 22715721 |
Shares Outstanding 22790900 | Shares Floating 22715721 | ||
Percent Insiders 0.34 | Percent Institutions 22.53 |
Upturn AI SWOT
FuelCell Energy Inc

Company Overview
History and Background
FuelCell Energy, Inc. was founded in 1969. It has evolved from researching fuel cell technology to developing, manufacturing, and servicing stationary fuel cell power plants.
Core Business Areas
- Power Generation: Development, manufacture, service, and sale of fuel cell power plants for distributed generation, on-site power, and combined heat and power.
- Service Agreements: Long-term service agreements providing maintenance, repair, and monitoring for installed fuel cell power plants.
- Advanced Technologies: Developing advanced technologies, including carbon capture and hydrogen production using fuel cell technology.
Leadership and Structure
Jason Few is the President and CEO. The company has a board of directors overseeing strategic direction and corporate governance. Organizationally, it's structured around functional areas such as sales, engineering, manufacturing, and service.
Top Products and Market Share
Key Offerings
- SureSource Power Plants: Modular fuel cell power plants that generate electricity, heat, and sometimes hydrogen. Market share data is difficult to pinpoint exactly. Competitors include Bloom Energy, Cummins, and Doosan Fuel Cell. Revenue from this product is the main revenue driver for the company.
- Service Agreements: Long-term service contracts for SureSource plants, providing recurring revenue. Competition comes from in-house maintenance teams or third-party service providers.
- Electrolysis Technology: Producing Hydrogen through Electrolysis. Main competitor is Plug Power.
Market Dynamics
Industry Overview
The fuel cell industry is growing, driven by demand for clean energy, government incentives, and technological advancements. Challenges include high costs and competition from other renewable energy sources.
Positioning
FuelCell Energy positions itself as a provider of reliable, clean, and efficient power solutions. Competitive advantages include its long history in fuel cell technology and its focus on large-scale power plants. High CAPEX is a challenge.
Total Addressable Market (TAM)
The total addressable market for fuel cells is projected to reach billions of dollars in the coming years. FuelCell Energy is positioned to capture a portion of this market through its stationary power generation solutions.
Upturn SWOT Analysis
Strengths
- Established Technology
- Large Scale Power Solutions
- Service and Maintenance Revenue
- Advanced Tech Development
Weaknesses
- High Costs
- Consistent Losses
- Dependence on Government Incentives
- High CAPEX requirements
Opportunities
- Growing Demand for Clean Energy
- Government Support for Fuel Cells
- Expanding into New Markets (e.g., carbon capture)
- Hydrogen Economy
Threats
- Competition from Other Renewable Energy Sources
- Fluctuations in Fuel Prices
- Technological Obsolescence
- Economic Downturns
Competitors and Market Share
Key Competitors
- BE
- BLDP
- PLUG
Competitive Landscape
FuelCell Energy faces intense competition from established renewable energy companies and other fuel cell developers. Its advantage lies in its technology and large-scale solutions, but it needs to improve cost-competitiveness.
Growth Trajectory and Initiatives
Historical Growth: Historical growth has been uneven, with periods of rapid expansion followed by challenges due to competition and financial constraints.
Future Projections: Future growth is projected to be driven by increasing demand for clean energy and expansion into new markets, but forecasts vary.
Recent Initiatives: Recent initiatives include developing carbon capture solutions and expanding into the hydrogen production market.
Summary
FuelCell Energy is operating in the promising market of clean energy. While they have a long history of research, they need to improve their financial performance. The industry is promising due to governments incentives. They must be wary of competitors with larger resources.
Peer Comparison
Sources and Disclaimers
Data Sources:
- Company Filings
- Industry Reports
- Analyst Estimates
Disclaimers:
The information provided is for informational purposes only and does not constitute investment advice. Market data and analyst estimates are subject to change.
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 426 | Website https://www.fuelcellenergy.com |
Full time employees 426 | 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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