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Fuel Tech Inc (FTEK)



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Upturn Advisory Summary
04/01/2025: FTEK (1-star) has a low Upturn Star Rating. Not recommended to BUY.
Analysis of Past Performance
Type Stock | Historic Profit -48.98% | Avg. Invested days 22 | Today’s Advisory Consider higher Upturn Star rating |
Upturn Star Rating ![]() ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Small-Cap Stock | Market Capitalization 32.87M USD | Price to earnings Ratio - | 1Y Target Price 4 |
Price to earnings Ratio - | 1Y Target Price 4 | ||
Volume (30-day avg) 71881 | Beta 4.24 | 52 Weeks Range 0.87 - 1.34 | Updated Date 03/31/2025 |
52 Weeks Range 0.87 - 1.34 | Updated Date 03/31/2025 | ||
Dividends yield (FY) - | Basic EPS (TTM) -0.06 |
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 2025-03-10 | When Before Market | Estimate -0.03 | Actual -0.06 |
Profitability
Profit Margin -7.73% | Operating Margin (TTM) -40.05% |
Management Effectiveness
Return on Assets (TTM) -5.93% | Return on Equity (TTM) -4.54% |
Valuation
Trailing PE - | Forward PE 14.01 | Enterprise Value 14174686 | Price to Sales(TTM) 1.31 |
Enterprise Value 14174686 | Price to Sales(TTM) 1.31 | ||
Enterprise Value to Revenue 0.56 | Enterprise Value to EBITDA 53.37 | Shares Outstanding 30708300 | Shares Floating 23387421 |
Shares Outstanding 30708300 | Shares Floating 23387421 | ||
Percent Insiders 22.54 | Percent Institutions 22.67 |
Analyst Ratings
Rating 4 | Target Price 4 | Buy 1 | Strong Buy - |
Buy 1 | Strong Buy - | ||
Hold - | Sell - | Strong Sell - | |
Strong Sell - |
Upturn AI SWOT
Fuel Tech Inc
Company Overview
History and Background
Fuel Tech Inc. was founded in 1987. Initially focused on providing nitrogen oxide (NOx) reduction technologies, it has evolved to offer a broader range of air pollution control and water treatment solutions. Key milestones include patenting its NOxOUTu00ae technology and expanding into international markets.
Core Business Areas
- APC (Air Pollution Control): Designs, develops, and supplies technologies for controlling nitrogen oxides (NOx), particulate matter (PM), sulfur dioxide (SO2), mercury, and other pollutants emitted from stationary sources, such as power plants and industrial facilities.
- FUEL CHEMu00ae: Provides chemical treatment programs designed to improve the efficiency and reliability of combustion units, reduce fouling, and minimize emissions. These programs are tailored to specific fuel types and operating conditions.
Leadership and Structure
Steven J. Brown is the Chairman, President, and CEO. The company operates with a functional organizational structure, with departments for sales, engineering, operations, and finance. The company is headquartered in Warrenville, Illinois.
Top Products and Market Share
Key Offerings
- NOxOUTu00ae: A proprietary NOx reduction technology using selective non-catalytic reduction (SNCR). Market share data is difficult to determine precisely, but Fuel Tech is a recognized player in the SNCR market. Competitors include Babcock & Wilcox, GE, and Mitsubishi Power. Revenue is not broken down for individual products. Revenue from SNCR technologies is usually between 30% - 40% of total revenues.
- FUEL CHEMu00ae Programs: Combustion optimization programs using chemical additives to improve boiler efficiency, reduce slagging and fouling, and lower emissions. Market share is not publicly available, but Fuel Tech competes with companies offering similar combustion optimization solutions. Competitors include Nalco Water, ChemTreat, and Solenis. Revenue from FUEL CHEM programs is usually between 60% - 70% of total revenues.
Market Dynamics
Industry Overview
The air pollution control industry is driven by increasingly stringent environmental regulations, particularly regarding emissions from power plants and industrial facilities. The industry is competitive, with both large multinational corporations and smaller specialized firms.
Positioning
Fuel Tech is positioned as a technology provider specializing in NOx reduction and combustion optimization. Its competitive advantages lie in its proprietary technologies, particularly NOxOUTu00ae, and its tailored service offerings.
Total Addressable Market (TAM)
The global air pollution control market is estimated to be billions of dollars annually, with estimates ranging from $80 billion to $120 billion USD. Fuel Tech's TAM is tied to the segments they serve (NOx Control and Combustion Optimization). They are positioned to capture a fraction of this, focusing on their niche expertise.
Upturn SWOT Analysis
Strengths
- Proprietary technologies (NOxOUTu00ae)
- Strong customer relationships
- Experienced management team
- Established presence in key markets
Weaknesses
- Relatively small market capitalization
- Dependence on regulatory drivers
- Fluctuating revenue streams
- Limited diversification
Opportunities
- Increasingly stringent environmental regulations globally
- Growing demand for clean energy technologies
- Expansion into new geographic markets
- Development of new products and services
Threats
- Competition from larger, more diversified companies
- Technological advancements in alternative pollution control methods
- Economic downturns affecting capital spending
- Changes in environmental regulations
Competitors and Market Share
Key Competitors
- Babcock & Wilcox (BW)
- CECO Environmental (CECE)
- Montrose Environmental Group (MEG)
Competitive Landscape
Fuel Tech faces competition from larger, more diversified companies. Its strengths lie in its niche expertise and proprietary technologies, but it must compete on price and innovation.
Major Acquisitions
Growth Trajectory and Initiatives
Historical Growth: Historical growth has been inconsistent, driven by project-based revenue. Requires further financial data to explain.
Future Projections: Analyst estimates are not readily available. Future growth is tied to regulatory drivers and technology adoption.
Recent Initiatives: Recent strategic initiatives may include product development, market expansion, and cost reduction measures.
Summary
Fuel Tech Inc. is a niche player in the air pollution control industry, specializing in NOx reduction and combustion optimization. Its proprietary technologies and tailored service offerings provide a competitive edge. However, its small market capitalization and dependence on regulatory drivers present challenges. Future growth depends on its ability to capitalize on increasing environmental regulations and expand into new markets.
Similar Companies
- BW
- CECE
- MEG
Sources and Disclaimers
Data Sources:
- Company Website
- SEC Filings
- Yahoo Finance
- Google Finance
- Industry Reports
Disclaimers:
This analysis is for informational purposes only and does not constitute financial advice. Market share estimates are based on limited available data and are subject to change. Financial data should be verified with official company filings.
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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