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FuelCell Energy Inc (FCEL)



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Upturn Advisory Summary
04/01/2025: FCEL (1-star) is currently NOT-A-BUY. Pass it for now.
Analysis of Past Performance
Type Stock | Historic Profit -68.84% | Avg. Invested days 21 | 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 97.05M USD | Price to earnings Ratio - | 1Y Target Price 9.61 |
Price to earnings Ratio - | 1Y Target Price 9.61 | ||
Volume (30-day avg) 753759 | Beta 3.7 | 52 Weeks Range 4.36 - 37.20 | Updated Date 04/1/2025 |
52 Weeks Range 4.36 - 37.20 | Updated Date 04/1/2025 | ||
Dividends yield (FY) - | Basic EPS (TTM) -7.88 |
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 2025-03-06 | When - | Estimate -0.0515 | Actual -1.4358 |
Profitability
Profit Margin -117.57% | Operating Margin (TTM) -164.84% |
Management Effectiveness
Return on Assets (TTM) -9.8% | Return on Equity (TTM) -20.01% |
Valuation
Trailing PE - | Forward PE - | Enterprise Value 97241912 | Price to Sales(TTM) 0.87 |
Enterprise Value 97241912 | Price to Sales(TTM) 0.87 | ||
Enterprise Value to Revenue 0.9 | Enterprise Value to EBITDA -4.19 | Shares Outstanding 21143800 | Shares Floating 21070192 |
Shares Outstanding 21143800 | Shares Floating 21070192 | ||
Percent Insiders 0.37 | Percent Institutions 39.74 |
Analyst Ratings
Rating 2.62 | Target Price 10.02 | Buy - | Strong Buy - |
Buy - | Strong Buy - | ||
Hold 6 | Sell 1 | Strong Sell 1 | |
Strong Sell 1 |
Upturn AI SWOT
FuelCell Energy Inc

Company Overview
History and Background
FuelCell Energy, Inc. was founded in 1969. It initially focused on fuel cell research and development, later shifting towards manufacturing and selling fuel cell power plants. It has experienced various stages of growth, partnerships, and financial challenges.
Core Business Areas
- Power Generation: Designs, manufactures, sells, installs, operates, and services stationary fuel cell power plants for distributed generation.
- Service Agreements: Provides long-term service agreements for installed fuel cell power plants, generating recurring revenue.
- Technology Development: Continues to invest in research and development of fuel cell technology and applications, including hydrogen production and energy storage.
Leadership and Structure
The leadership team consists of the CEO, CFO, CTO, and other key executives. The organizational structure is functional, with departments for engineering, sales, finance, and operations.
Top Products and Market Share
Key Offerings
- SureSource Power Plants: Stationary fuel cell power plants that convert natural gas or biogas into electricity and heat through an electrochemical process. Competitors include Bloom Energy, Cummins, and Doosan. The market share is estimated around 25%.
- Hydrogen Production: Electrolyzer technology that converts electricity and water into hydrogen, expanding their product portfolio into clean energy solutions. Competitors include Plug Power, ITM Power.
Market Dynamics
Industry Overview
The fuel cell industry is experiencing growth due to increasing demand for clean and reliable power generation, driven by environmental regulations and incentives. The industry is competitive, with several established players and emerging startups.
Positioning
FuelCell Energy is positioned as a provider of on-site power generation solutions and hydrogen production. It has a competitive advantage in the utility-scale stationary fuel cell market with multi-Mwatt deployments. However, it faces challenges related to profitability and competition.
Total Addressable Market (TAM)
The total addressable market for fuel cells is expected to reach billions of dollars in the coming years. FuelCell Energy is positioned to capture a significant portion of this market, particularly in the stationary power and hydrogen production segments.
Upturn SWOT Analysis
Strengths
- Established technology with proven performance
- Strong intellectual property portfolio
- Experienced management team
- Focus on large-scale power plants
Weaknesses
- History of losses and negative cash flow
- High debt levels
- Reliance on government subsidies and incentives
- Competition from other renewable energy sources
Opportunities
- Growing demand for clean energy and distributed generation
- Expansion into hydrogen production and energy storage
- Partnerships with utilities and other energy companies
- Government support for fuel cell technology
Threats
- Competition from lower-cost renewable energy sources (solar, wind)
- Fluctuations in natural gas prices
- Changes in government regulations and incentives
- Technological advancements in competing technologies
Competitors and Market Share
Key Competitors
- BE
- PLUG
- BLDP
- ITM.L
Competitive Landscape
FuelCell Energy faces intense competition from Bloom Energy and Plug Power, among others. While FuelCell Energy has a strong presence in the utility-scale stationary fuel cell market, it lags behind competitors in other segments, such as transportation and portable power.
Major Acquisitions
Growth Trajectory and Initiatives
Historical Growth: FuelCell Energy's growth has been uneven. Revenue growth has been impacted by project timing and market conditions.
Future Projections: Analysts expect FuelCell Energy to experience revenue growth in the coming years as it expands its product portfolio and secures new projects. However, profitability remains a challenge.
Recent Initiatives: Recent initiatives include focusing on hydrogen production, expanding partnerships, and securing new contracts for fuel cell power plants.
Summary
FuelCell Energy has promising technology and growth opportunities, but is burdened by financial challenges, including a history of losses and high debt levels. While the company is well positioned to benefit from the increasing demand for clean energy solutions, its profitability and financial stability remain key concerns. FCEL needs to improve its cash flow and balance sheet, whilst keeping up its innovative approach.
Similar Companies
- BE
- PLUG
- BLDP
- GE
- CUMMINS
Sources and Disclaimers
Data Sources:
- FuelCell Energy's SEC filings (10K, 10Q), Press Releases, Industry Reports, Analyst Reports
Disclaimers:
The data and analysis provided are for informational purposes only and should not be considered financial advice. Market conditions and company performance can change rapidly. Please do your own research before making any investment decisions.
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 584 | Website https://www.fuelcellenergy.com |
Full time employees 584 | 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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