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Fuel Tech Inc (FTEK)


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Upturn Advisory Summary
10/15/2025: FTEK (3-star) is a WEAK-BUY. BUY since 25 days. Simulated Profits (-7.96%). 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 74.49% | Avg. Invested days 31 | Today’s Advisory WEAK BUY |
Upturn Star Rating ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Small-Cap Stock | Market Capitalization 99.13M USD | Price to earnings Ratio - | 1Y Target Price 4 |
Price to earnings Ratio - | 1Y Target Price 4 | ||
Volume (30-day avg) 1 | Beta 4.89 | 52 Weeks Range 0.87 - 3.65 | Updated Date 10/16/2025 |
52 Weeks Range 0.87 - 3.65 | Updated Date 10/16/2025 | ||
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 68037614 | Price to Sales(TTM) 3.95 |
Enterprise Value 68037614 | Price to Sales(TTM) 3.95 | ||
Enterprise Value to Revenue 2.71 | Enterprise Value to EBITDA 53.37 | Shares Outstanding 31074438 | Shares Floating 23709796 |
Shares Outstanding 31074438 | Shares Floating 23709796 | ||
Percent Insiders 22.96 | Percent Institutions 19.95 |
Upturn AI SWOT
Fuel Tech Inc

Company Overview
History and Background
Fuel Tech Inc. was founded in 1987. It focuses on providing air pollution control and fuel optimization technologies. Initially focused on NOx reduction, it expanded into particulate control and advanced combustion systems.
Core Business Areas
- Air Pollution Control (APC): Designs and supplies technologies for NOx reduction, particulate control, and other pollutants from stationary sources like power plants and industrial facilities.
- FUEL CHEMu00ae: FUEL CHEMu00ae technology uses chemical treatment programs to improve the efficiency and performance of combustion systems, reducing fuel consumption and emissions.
Leadership and Structure
Vincent J. Arnone serves as the President and CEO. The company operates with a functional organizational structure, with departments focused on engineering, sales, marketing, and operations.
Top Products and Market Share
Key Offerings
- NOxOUTu00ae: NOxOUTu00ae is a NOx reduction technology used in combustion sources. The market share is difficult to estimate precisely but the major competitors include Babcock & Wilcox and Clyde Bergemann Power Group. Revenue data is not publicly disaggregated by product.
- FUEL CHEMu00ae: FUEL CHEMu00ae technology provides proprietary chemical programs to treat coal and other fossil fuels used in combustion systems. Market share data is not publicly available. Competitors include companies offering similar fuel additive and combustion optimization solutions, such as ChemTreat and Nalco Water.
Market Dynamics
Industry Overview
The industry is driven by increasingly stringent environmental regulations globally, mandating emission reductions from power plants and industrial facilities. The focus is on cleaner energy solutions and improved combustion efficiency.
Positioning
Fuel Tech Inc. positions itself as a provider of integrated air pollution control and fuel optimization solutions. Its competitive advantages include patented technologies and a focus on improving the performance of existing combustion systems.
Total Addressable Market (TAM)
The TAM for air pollution control technologies is estimated to be in the billions of dollars globally. Fuel Tech Inc. targets a niche within this market by focusing on post-combustion technologies and optimization solutions.
Upturn SWOT Analysis
Strengths
- Proprietary technologies
- Experienced management team
- Strong customer relationships
- Global presence
Weaknesses
- Small market capitalization
- Dependence on regulatory drivers
- Fluctuations in energy prices
- Limited financial resources
Opportunities
- Increasingly stringent environmental regulations globally
- Growing demand for cleaner energy solutions
- Expansion into new geographic markets
- Development of new technologies
Threats
- Competition from larger players
- Economic downturns
- Changes in environmental regulations
- Technological obsolescence
Competitors and Market Share
Key Competitors
- CE
- BWXT
- OIIM
Competitive Landscape
Fuel Tech Inc. faces competition from larger, more established players in the air pollution control and combustion optimization markets. It differentiates itself through its focus on specific technologies and customer service.
Growth Trajectory and Initiatives
Historical Growth: Historical growth has been inconsistent due to the cyclical nature of the industries it serves.
Future Projections: Future growth depends on the company's ability to secure new contracts and expand into new markets. Analyst estimates vary.
Recent Initiatives: Recent strategic initiatives include expanding its FUEL CHEMu00ae business and focusing on international markets.
Summary
Fuel Tech is a small player in the air pollution control sector, relying on regulatory drivers and project-based revenue. Strengths include proprietary technologies and customer relationships. Weaknesses include size and dependence on regulatory changes. The company must capitalize on growth opportunities in emerging markets and technology advancements while mitigating competition and economic risks. Recent initiatives may help, but require more time to have a significant impact.
Peer Comparison
Sources and Disclaimers
Data Sources:
- SEC Filings
- Company Website
- Investor Presentations
- Analyst Reports
Disclaimers:
This analysis is for informational purposes only and should not be considered investment advice. Financial data and market information 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 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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