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Fuel Tech Inc (FTEK)



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Upturn Advisory Summary
09/12/2025: FTEK (4-star) is a STRONG-BUY. BUY since 2 days. Simulated Profits (7.08%). Updated daily EoD!
1 Year Target Price $4
1 Year Target Price $4
0 | Strong Buy |
1 | Buy |
0 | Hold |
0 | Sell |
0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit 103.02% | Avg. Invested days 27 | Today’s Advisory Strong Buy |
Upturn Star Rating ![]() ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Small-Cap Stock | Market Capitalization 112.80M USD | Price to earnings Ratio - | 1Y Target Price 4 |
Price to earnings Ratio - | 1Y Target Price 4 | ||
Volume (30-day avg) 1 | Beta 4.84 | 52 Weeks Range 0.87 - 3.65 | Updated Date 09/14/2025 |
52 Weeks Range 0.87 - 3.65 | Updated Date 09/14/2025 | ||
Dividends yield (FY) - | Basic EPS (TTM) -0.11 |
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 -12.89% | Operating Margin (TTM) -23.53% |
Management Effectiveness
Return on Assets (TTM) -5.93% | Return on Equity (TTM) -7.67% |
Valuation
Trailing PE - | Forward PE 14.01 | Enterprise Value 90411209 | Price to Sales(TTM) 4.5 |
Enterprise Value 90411209 | Price to Sales(TTM) 4.5 | ||
Enterprise Value to Revenue 3.61 | Enterprise Value to EBITDA 53.37 | Shares Outstanding 31074400 | Shares Floating 23709796 |
Shares Outstanding 31074400 | Shares Floating 23709796 | ||
Percent Insiders 22.96 | Percent Institutions 19.9 |
Upturn AI SWOT
Fuel Tech Inc

Company Overview
History and Background
Fuel Tech Inc. was founded in 1987. It initially focused on providing technologies to optimize combustion and reduce emissions in utility and industrial applications. Over time, the company has evolved to offer broader water treatment and air pollution control solutions.
Core Business Areas
- AIR POLLUTION CONTROL (APC): This segment focuses on technologies that reduce nitrogen oxides (NOx), sulfur oxides (SOx), particulate matter, and other pollutants from stationary sources. This includes designing, engineering, installing, and servicing APC systems.
- FUEL CHEM: This segment offers chemical treatment programs designed to optimize combustion efficiency, reduce fuel consumption, and minimize slagging, fouling, and corrosion in boilers and other combustion systems. They are used in power generation and industrial facilities.
Leadership and Structure
Vincent J. Arnone is the President and CEO. The organizational structure includes various departments such as sales, engineering, operations, finance, and research and development, reporting to the CEO.
Top Products and Market Share
Key Offerings
- NOxOUTu00ae: NOxOUTu00ae is a family of NOx reduction technologies, including Selective Non-Catalytic Reduction (SNCR) and Selective Catalytic Reduction (SCR) systems. It helps power plants and industrial facilities comply with emissions regulations. Market share data specific to NOxOUT is unavailable publicly. Competitors include Babcock & Wilcox, GE Power, and Mitsubishi Hitachi Power Systems.
- FUEL CHEMu00ae: FUEL CHEMu00ae is a chemical treatment program designed to optimize combustion efficiency and reduce emissions. Market share data specific to FUEL CHEM is unavailable publicly. Competitors include Nalco Water, ChemTreat, and GE Water.
Market Dynamics
Industry Overview
The industry Fuel Tech operates in is characterized by increasing environmental regulations and a growing demand for cleaner energy technologies. This includes focus on air quality control and water quality enhancement.
Positioning
Fuel Tech is positioned as a provider of innovative air pollution control and fuel treatment solutions, offering technologies to help customers meet environmental regulations and improve operational efficiency. Fuel Tech's competitive advantages include its experience in NOx reduction and its FUEL CHEM technology for combustion optimization.
Total Addressable Market (TAM)
The total addressable market for air pollution control and fuel treatment technologies is estimated to be in the billions of dollars globally. Fuel Tech's positioning allows it to capture a portion of this market by offering specialized solutions for specific applications. However, a firm number is not publicly available.
Upturn SWOT Analysis
Strengths
- Proprietary NOx reduction technologies
- Experienced engineering team
- FUEL CHEMu00ae combustion optimization technology
- Established relationships with power and industrial customers
Weaknesses
- Small company size limits resources
- Dependence on regulatory environment
- Customer base is concentrated
- Limited geographic diversity in sales
Opportunities
- Expanding environmental regulations globally
- Increasing demand for cleaner energy solutions
- Partnerships with larger companies
- New product development in water treatment
Threats
- Competition from larger, more established companies
- Technological advancements may render current technologies obsolete
- Economic downturns affecting capital spending by customers
- Changes in environmental regulations that may reduce demand
Competitors and Market Share
Key Competitors
- Babcock & Wilcox Enterprises Inc (BW)
- Ducon Technologies Inc (Private)
- Mitsubishi Heavy Industries (MHVYF)
Competitive Landscape
Fuel Tech's competitive advantages include its proprietary technologies and experienced team. However, it faces challenges from larger competitors with greater financial resources and broader product portfolios.
Growth Trajectory and Initiatives
Historical Growth: Fuel Tech's historical growth has been dependent on regulatory trends and capital spending in the power and industrial sectors. Revenue has fluctuated over the years.
Future Projections: Future growth is dependent on the success of strategic initiatives, new product launches, and macroeconomic factors. Please consult analyst reports for detailed projections.
Recent Initiatives: Recent initiatives include expanding its water treatment offerings and seeking partnerships to broaden its market reach.
Summary
Fuel Tech Inc. is a small company focused on emissions control, with proprietary NOxOUT and FUEL CHEM technologies. Its small size and dependence on the regulatory environment creates challenges. Recent initiatives to grow are being put in place to try and turn the company around, but they are facing competition from companies with better resources. The company should look out for technology advancement and change that can take away from current market revenue.
Peer Comparison
Sources and Disclaimers
Data Sources:
- Fuel Tech Inc.'s official website
- SEC filings
- Third-party financial analysis websites
- Press releases
Disclaimers:
The information provided is for informational purposes only and should not be considered financial advice. Investment decisions should be made after consulting with a qualified financial advisor. Market share estimates are approximate and based on publicly available information.
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 Fuel Tech Inc
Exchange NASDAQ | Headquaters Warrenville, IL, United States | ||
IPO Launch date 1993-09-07 | Chairman, CEO & President Mr. Vincent J. Arnone | ||
Sector Industrials | Industry Pollution & Treatment Controls | Full time employees 72 | Website https://www.ftek.com |
Full time employees 72 | Website https://www.ftek.com |
Fuel Tech, Inc. engages in the development, commercialization, and application of technologies for air pollution control, process optimization, water treatment. and advanced engineering services to utility and industrial customers. It operates through two segments, Air Pollution Control Technology and FUEL CHEM Technology. The Air Pollution Control Technology segment offers technologies to reduce nitrogen oxide (NOx) emissions in flue gas from boilers, incinerators, furnaces, and other stationary combustion sources; NOxOUT and HERT SNCR Selective Non-Catalytic Reduction systems; advanced selective catalytic reduction systems comprising Ammonia Injection Grid, and GSG Graduated Straightening Grid systems. I-NOx integrated NOx reduction systems; ESP processes and services; ULTRA technology; and flue gas conditioning systems. The FUEL CHEM Technology segment provides programs to improve the efficiency, reliability, fuel flexibility, boiler heat rate, and environmental status of combustion units for the control of slagging, fouling, corrosion, opacity, and acid plume, as well as the formation of sulfur trioxide, ammonium bisulfate, particulate matter, sulfur dioxide, and carbon dioxide through the addition of chemicals into the furnace using TIFI Targeted In-Furnace Injection technology. This segment offers its FUEL CHEM program for plants operating in the electric utility, industrial, pulp and paper, waste-to-energy, and university and district heating markets; and the owners of boilers, furnaces, and other combustion units for treating a wide variety of solid and liquid fuels, including coal, heavy oil, black liquor, biomass, and municipal waste. The company offers DGI Dissolved Gas Infusion systems, which utilizes a proprietary channel injector and a patented saturator that infuses oxygen, carbon dioxide, or other gases into water; and UDI Urea Direct Injection systems. It operates in the United States, rest of the Americas, Europe, South Africa, the Pacific region, and internationally. Fuel Tech, Inc. was incorpo

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