(FCEL) FuelCell Energy - Ratings and Ratios
Fuel Cell, Electrolyzer, Capture, Storage
Dividends
Currently no dividends paid| Risk via 10d forecast | |
|---|---|
| Volatility | 88.0% |
| Value at Risk 5%th | 119% |
| Relative Tail Risk | -17.93% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.09 |
| Alpha | -40.94 |
| CAGR/Max DD | -0.58 |
| Character TTM | |
|---|---|
| Hurst Exponent | 0.589 |
| Beta | 1.355 |
| Beta Downside | 1.253 |
| Drawdowns 3y | |
|---|---|
| Max DD | 97.07% |
| Mean DD | 74.44% |
| Median DD | 82.59% |
Description: FCEL FuelCell Energy November 16, 2025
FuelCell Energy Inc. (NASDAQ:FCEL) designs, manufactures, and sells stationary solid-oxide fuel-cell and electrolysis platforms that generate electricity, heat, clean hydrogen, and water while enabling carbon-capture and utilization. Its product suite spans on-site power generation, utility-grid support, micro-grid applications, and long-duration hydrogen-based energy storage, delivered as turn-key projects that include engineering, procurement, construction, interconnection, and operation services.
The company targets a broad customer base-utilities, independent power producers, data centers, wastewater treatment facilities, industrial hydrogen users, ports, and renewable-energy developers-across the United States, South Korea, Europe, and Canada. This diversification aligns with rising policy incentives for decarbonization and the accelerating demand for reliable, low-carbon baseload power and green hydrogen.
Recent metrics indicate FCEL is scaling: FY 2023 reported roughly $84 million in revenue and a backlog exceeding $150 million, while the firm’s installed fuel-cell capacity is now above 200 MW. A key economic driver is the U.S. Department of Energy’s $3 billion clean-hydrogen funding program, which is expected to boost demand for solid-oxide electrolysis systems like FCEL’s.
Given the company’s expanding order book and the macro-trend toward hydrogen-based grid resilience, a deeper dive into its cash-flow outlook and competitive positioning could be worthwhile-ValueRay’s analyst notes provide a concise, data-focused framework to help you assess whether FCEL fits your risk-adjusted return criteria.
Piotroski VR‑10 (Strict, 0-10) 1.0
| Net Income (-201.0m TTM) > 0 and > 6% of Revenue (6% = 9.15m TTM) |
| FCFTA -0.15 (>2.0%) and ΔFCFTA 11.57pp (YES ≥ +1.0pp, WARN ≥ +0.5pp) |
| NWC/Revenue 197.7% (prev 461.4%; Δ -263.7pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp) |
| CFO/TA -0.12 (>3.0%) and CFO -96.6m > Net Income -201.0m (YES >=105%, WARN >=100%) |
| NO Net Debt/EBITDA fails (EBITDA <= 0) |
| Current Ratio 5.37 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active) |
| Outstanding Shares last Quarter (24.4m) change vs 12m ago -95.14% (target <= -2.0% for YES) |
| Gross Margin -20.13% (prev -31.04%; Δ 10.91pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0) |
| Asset Turnover 17.14% (prev 8.99%; Δ 8.15pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0) |
| Interest Coverage Ratio -9.97 (EBITDA TTM -167.7m / Interest Expense TTM 10.2m) >= 6 (WARN >= 3) |
Altman Z'' -14.66
| (A) 0.36 = (Total Current Assets 370.4m - Total Current Liabilities 69.0m) / Total Assets 830.5m |
| (B) -2.17 = Retained Earnings (Balance) -1.80b / Total Assets 830.5m |
| warn (B) unusual magnitude: -2.17 — check mapping/units |
| (C) -0.11 = EBIT TTM -102.0m / Avg Total Assets 889.7m |
| (D) -8.77 = Book Value of Equity -1.80b / Total Liabilities 205.5m |
| Total Rating: -14.66 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D) |
ValueRay F-Score (Strict, 0-100) 21.16
| 1. Piotroski 1.0pt |
| 2. FCF Yield -78.79% |
| 3. FCF Margin -81.84% |
| 4. Debt/Equity 0.05 |
| 5. Debt/Ebitda 0.96 |
| 6. ROIC - WACC (= -24.31)% |
| 7. RoE -30.50% |
| 8. Rev. Trend 25.51% |
| 9. EPS Trend -71.30% |
What is the price of FCEL shares?
Over the past week, the price has changed by +4.66%, over one month by +13.62%, over three months by +27.51% and over the past year by -26.69%.
Is FCEL a buy, sell or hold?
- Strong Buy: 0
- Buy: 0
- Hold: 6
- Sell: 1
- Strong Sell: 1
What are the forecasts/targets for the FCEL price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 7.8 | -10.5% |
| Analysts Target Price | 7.8 | -10.5% |
| ValueRay Target Price | 4.9 | -44.6% |
FCEL Fundamental Data Overview December 02, 2025
P/S = 2.0981
P/B = 0.5752
P/EG = -0.12
Beta = 1.147
Revenue TTM = 152.5m USD
EBIT TTM = -102.0m USD
EBITDA TTM = -167.7m USD
Long Term Debt = 119.3m USD (from longTermDebt, last quarter)
Short Term Debt = 17.5m USD (from shortTermDebt, last quarter)
Debt = 29.2m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -161.5m USD (from netDebt column, last quarter)
Enterprise Value = 158.4m USD (319.9m + Debt 29.2m - CCE 190.8m)
Interest Coverage Ratio = -9.97 (Ebit TTM -102.0m / Interest Expense TTM 10.2m)
FCF Yield = -78.79% (FCF TTM -124.8m / Enterprise Value 158.4m)
FCF Margin = -81.84% (FCF TTM -124.8m / Revenue TTM 152.5m)
Net Margin = -131.9% (Net Income TTM -201.0m / Revenue TTM 152.5m)
Gross Margin = -20.13% ((Revenue TTM 152.5m - Cost of Revenue TTM 183.2m) / Revenue TTM)
Gross Margin QoQ = -10.98% (prev -25.23%)
Tobins Q-Ratio = 0.19 (Enterprise Value 158.4m / Total Assets 830.5m)
Interest Expense / Debt = 8.72% (Interest Expense 2.55m / Debt 29.2m)
Taxrate = -0.04% (negative due to tax credits) (40.0k / -91.9m)
NOPAT = -102.0m (EBIT -102.0m * (1 - -0.04%)) [loss with tax shield] [negative tax rate / tax credits]
Current Ratio = 5.37 (Total Current Assets 370.4m / Total Current Liabilities 69.0m)
Debt / Equity = 0.05 (Debt 29.2m / totalStockholderEquity, last quarter 556.2m)
Debt / EBITDA = 0.96 (negative EBITDA) (Net Debt -161.5m / EBITDA -167.7m)
Debt / FCF = 1.29 (negative FCF - burning cash) (Net Debt -161.5m / FCF TTM -124.8m)
Total Stockholder Equity = 659.3m (last 4 quarters mean from totalStockholderEquity)
RoA = -24.21% (Net Income -201.0m / Total Assets 830.5m)
RoE = -30.50% (Net Income TTM -201.0m / Total Stockholder Equity 659.3m)
RoCE = -13.09% (EBIT -102.0m / Capital Employed (Equity 659.3m + L.T.Debt 119.3m))
RoIC = -13.49% (negative operating profit) (NOPAT -102.0m / Invested Capital 756.1m)
WACC = 10.82% (E(319.9m)/V(349.1m) * Re(11.01%) + D(29.2m)/V(349.1m) * Rd(8.72%) * (1-Tc(-0.00)))
Discount Rate = 11.01% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -100.0 | Cagr: -76.71%
Fair Price DCF = unknown (Cash Flow -124.8m)
EPS Correlation: -71.30 | EPS CAGR: -16.56% | SUE: 3.42 | # QB: 1
Revenue Correlation: 25.51 | Revenue CAGR: 38.09% | SUE: -0.21 | # QB: 0
EPS next Quarter (2026-01-31): EPS=-1.10 | Chg30d=-0.070 | Revisions Net=+1 | Analysts=1
EPS next Year (2026-10-31): EPS=-2.99 | Chg30d=+0.565 | Revisions Net=+2 | Growth EPS=+40.2% | Growth Revenue=+21.3%
Additional Sources for FCEL Stock
Tweets: X | Stocktwits
Fund Manager Positions: Dataroma | Stockcircle