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Earnings transcript
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FCEL
FuelCell Energy, Inc.
$14.16
-1.34
(-8.62%)
| Exchange: | NASDAQ |
| Market Cap: | 1.132B |
| Shares Outstanding: | 153075 |
Delayed data
About The Company
| Sector: | IndustrialsView sector performance | |||||
| Industry: | Electrical Equipment & PartsView industry performance | |||||
| CEO: | Jason Few | |||||
| Full Time Employees: | 424 | |||||
| Address: |
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| Website: | https://www.fuelcellenergy.com |
FuelCell Energy, Inc., alongside its subsidiaries, is involved in the complete lifecycle of stationary fuel cell power plants, covering their design, manufacturing, sales, installation, continuous operation, and servicing. These systems are developed for decentralized, consistent baseload electricity generation. The company offers a range of SureSource platforms: the 1.4-megawatt (MW) SureSource 1500, the 2.8 MW SureSource 3000, the 3.7 MW SureSource 4000, the 250-kilowatt (kW) SureSource 250, and the 400 kW SureSource 400. A prominent product is the 2.3 MW SureSource Hydrogen platform, engineered to produce up to 1,200 kilograms of hydrogen daily, serving applications in multi-megawatt utilities, microgrids, distributed hydrogen, and on-site heating and cooling. Furthermore, FuelCell Energy provides the SureSource Capture system, designed to separate and concentrate carbon dioxide from the flue gases emitted by natural gas, biomass, or coal-fired power plants, as well as industrial facilities. Their technological capabilities also include solid oxide fuel cell and solid oxide electrolysis cell stack technologies. The SureSource power plants fundamentally generate clean electricity, useful thermal energy, water, and hydrogen. The company’s service portfolio is extensive, featuring engineering, procurement, and construction (EPC) services, along with project financing. Post-installation support includes real-time monitoring, remote operational management, an online support system, preventative maintenance, parts and supplies, on-site and classroom training, and power plant refurbishment or recycling services. Technical support is also available for optimizing plant operation, performance, and fuel processing. FuelCell Energy serves a diverse clientele across various markets, including public utilities and independent power producers, industrial and process applications, educational and healthcare facilities, data centers and communication networks, wastewater treatment plants, government entities, microgrid developers, the food and beverage industry, and the commercial and hospitality sectors. The company’s primary operational regions encompass the United States, South Korea, England, Germany, and Switzerland. Founded in 1969, FuelCell Energy, Inc. is headquartered in Danbury, Connecticut.
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Revenue Segmentation
FCEL full analysis
Hey everyone, welcome back to another deep dive into the markets. Today we're breaking down FuelCell Energy, ticker FCEL, a company that's been making serious waves lately thanks to its positioning in the clean energy space and a massive pipeline tied to AI data centers. Let's get right into it. FuelCell Energy has carved out a niche in stationary fuel cell power plants, delivering solutions that generate electricity with low emissions while also capturing heat and even carbon dioxide for…
EPS
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Earnings Call
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Key takeaways
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Login — it's freeIncome Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 123,394 | 112,132 | 158,162 |
| Gross Profit | -10,535 | -35,918 | -26,408 |
| EBITDA | -74,853 | -110,870 | -140,457 |
| Operating Income | -136,084 | -155,926 | -121,230 |
| Net Income | -107,568 | -126,009 | -187,899 |
(* All numbers are in thousands)
Balance Sheet
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Total Assets | 955,520 | 944,124 | 932,146 |
| Total Liabilities | 195,215 | 216,658 | 201,005 |
| Total Stockholders Equity | 742,350 | 716,779 | 662,179 |
| Total Debt | 139,246 | 141,363 | 28,733 |
| Cash and Cash Equivalents | 249,952 | 148,133 | 294,700 |
(* All numbers are in thousands)
Cash Flow Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating Cash Flow | -140,250 | -152,906 | -125,291 |
| Capital Expenditure | -92,362 | -47,721 | 0 |
| Free Cash Flow | -232,612 | -200,627 | -125,291 |
| Net Income | -108,056 | -156,778 | -191,099 |
| Net Change in Cash | -181,468 | -90,693 | 132,909 |
(* All numbers are in thousands)
Analyst Estimates
| Fiscal Year | 2030 | Research Access | Research Access | Research Access | Research Access |
|---|---|---|---|---|---|
| Estimated Revenue (Low) | 889,781.173 | Research Access | Research Access | Research Access | Research Access |
| Estimated Revenue (High) | 1,249,677.878 | Research Access | Research Access | Research Access | Research Access |
| Estimated Revenue (Avg) | 1,021,296.750 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (Low) | 282,309.488 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (High) | 297,237.641 | Research Access | Research Access | Research Access | Research Access |
| Estimated Ebitda (Avg) | 287,764.777 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (Low) | 21,433.575 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (High) | 33,226.816 | Research Access | Research Access | Research Access | Research Access |
| Estimated Net Income (Avg) | 25,743.253 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (Low) | 469,569.189 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (High) | 659,499.487 | Research Access | Research Access | Research Access | Research Access |
| Estimated SGA Expense (Avg) | 538,974.639 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (Avg) | 1 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (High) | 1.290 | Research Access | Research Access | Research Access | Research Access |
| Estimated EPS (Low) | 0.830 | Research Access | Research Access | Research Access | Research Access |
| Number of Analysts (Estimated Revenue) | 6 | Research Access | Research Access | Research Access | Research Access |
| Number of Analysts (Estimated EPS) | 1 | Research Access | Research Access | Research Access | Research Access |
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Current Key Metrics
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Login — it's freeSWOT Analysis
Strengths (preview)
- Strategic emphasis on cost reduction, partnerships, and clean energy solution expansion, as outlined in the Q1 Fiscal 2025 earnings call summary.
- Positioned within the clean energy sector with ongoing focus on domestic and international market development.
- Weaknesses
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At what price to buy it? -
Intrinsic Value Calculator
Based on current fundamentals and analyst forecasts, MarketSnap estimates FCEL intrinsic value between $12.82 – $17.65 per share. This depends on revenue growth, margins, and discount rate.
This is an automatic estimate. The most reliable way to know fair value for your own assumptions is to run the calculator below.
Common questions about FCEL valuation
Is FuelCell Energy, Inc. (FCEL) overvalued or undervalued right now?
MarketSnap estimates intrinsic value for FuelCell Energy, Inc. (FCEL) using its proprietary valuation methodology, which incorporates discounted cash flow (DCF) analysis together with long-term earnings and fundamentals assumptions. By comparing intrinsic value to the current market price, long-term investors can see whether the stock screens as potentially overvalued, fairly valued, or undervalued today.
Is FCEL a buy, hold, or sell for long-term investors?
MarketSnap does not give one-word “buy” or “sell” calls. Instead, it shows whether FCEL trades at a premium or discount to its estimated intrinsic value, how sensitive that value is to growth and margin assumptions, and how the stock fits into a diversified, long-term portfolio so investors can make their own buy, hold, or sell decision.
What is FCEL’s P/E ratio?
You can see FCEL’s trailing P/E (TTM) and forward P/E estimates in the Current Key Metrics and Forward P/E Ratios sections above. The P/E ratio compares the current share price to earnings per share and helps investors gauge valuation relative to earnings.
How is intrinsic value calculated for FCEL?
MarketSnap uses its own valuation framework—not a generic spreadsheet DCF alone. Future cash flows and earnings are projected, discounted, and combined with MarketSnap’s methodology so intrinsic value reflects fundamentals and long-term assumptions. You can run your own inputs and see the result using the Intrinsic Value Calculator above.
Is FCEL a good long-term investment?
Whether FCEL fits a long-term portfolio depends on your assumptions about growth, margins, and risk. MarketSnap provides the metrics, intrinsic value calculator, and SWOT context so you can form your own view rather than rely on a single buy/sell rating.
FCEL
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Daily snapshot
-8.62
Trading Metrics:
| Open: | 14.86 | Previous Close: | 15.5 | |
| Day Low: | 13.94 | Day High: | 15.04 | |
| Year Low: | 5.71 | Year High: | 37.88 | |
| Price Avg 50: | 18.1 | Price Avg 200: | 14.64 | |
| Volume: | 7.799M | Average Volume: | 9.832M |
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