FCEL
$12.40-3.80%
FuelCell Energy Inc.Stock · IndustrialsRussell 2000 · 0.06% of IWMRussell 3000 · 0.003% of IWVUS Stock Market · 0.003% of VTI
FCEL financial statements
The full income statement, balance sheet, and cash-flow statement for FuelCell Energy Inc. (FCEL), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
2024-07 18.5M2024-10 20.4M2025-01 21.1M2025-04 22.8M2025-07 32.3M2025-10 47.7M2026-01 53.0M2026-04 67.6M2026-07 80.0M+331.4% over 8 periods
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
PeriodRangeOrderChangeFiguresAs-reported fiscal years.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofOct 31 ’25 | as ofOct 31 ’24 | as ofOct 31 ’23 | as ofOct 31 ’22 | as ofOct 31 ’21 | |
| Revenue | 158M+41.0% | 112M-9.1% | 123M-5.4% | 130M+87.5% | 69.6M-1.8% | |
| Cost of revenue | 185M+24.7% | 148M+10.5% | 134M-16.3% | 160M+87.8% | 85.2M+8.4% | |
| 166M+35.4% | 123M-2.4% | 126M+10.0% | 114M+131.7% | 49.3M+56.7% | ||
| Research & development | 34.1M-38.5% | 55.4M-9.2% | 61.0M+76.7% | 34.5M+205.2% | 11.3M+135.9% | |
| Selling, general & administrative | 60.7M-6.0% | 64.6M+0.1% | 64.5M-19.0% | 79.6M+109.8% | 37.9M+42.4% | |
| Amortization of intangibles | 1.30M+0.0% | 1.30M+0.0% | 1.30M+0.0% | 1.30M+0.0% | 1.30M | |
| Operating income | -192M-21.4% | -158M-16.5% | -136M+5.3% | -144M-121.4% | -64.9M-65.7% | |
| Interest expense | 10.4M+7.1% | 9.69M+33.7% | 7.25M+13.3% | 6.39M-13.2% | 7.36M-51.9% | |
| Interest & investment income | 8.31M-39.4% | 13.7M-13.1% | 15.8M+366.5% | 3.39M+9858.8% | 34.0K | |
| Other non-operating income | 3.18M+238.5% | -2.29M-148.6% | 4.72M+1380.9% | 319K+143.8% | -728K-206.4% | |
| Pre-tax income | -191M-22.0% | -157M-45.9% | -107M+26.6% | -146M-44.9% | -101M-13.4% | |
| Income tax | 137K+448.0% | 25.0K-95.7% | 581K-29.1% | 819K+40850.0% | 2.00K-95.7% | |
| -188M-49.1% | -126M-17.1% | -108M+24.6% | -143M-41.2% | -101M-13.4% | ||
| Net income to non-controlling interest | -3.47M+88.7% | -30.8M-6205.1% | -488K+89.2% | -4.51M-15133.3% | 30.0K | |
| Preferred dividends | 3.20M+0.0% | 3.20M+0.0% | 3.20M+0.0% | 3.20M+0.0% | 3.20M-3.9% | |
| Net income to common | -191M-47.9% | -129M-16.6% | -111M+24.1% | -146M-40.0% | -104M-12.8% | |
| -$7.42+5.2% | -$7.83+1.1% | -$7.92+30.7% | -$11.43-22.9% | -$9.30+26.2% | ||
| EPS (basic) | -$7.42+5.2% | -$7.83+1.1% | -$7.92+30.7% | -$11.43-22.9% | -$9.30+26.2% | |
| Weighted-avg shares (basic) | 25.7M+56.0% | 16.5M+18.0% | 14.0M+9.6% | 12.8M+14.5% | 11.2M+50.8% | |
| Weighted-avg shares (diluted) | 25.7M+56.0% | 16.5M+18.0% | 14.0M+9.6% | 12.8M+14.5% | 11.2M+50.8% | |
| Balance Sheet | as ofOct 31 ’25 | as ofOct 31 ’24 | as ofOct 31 ’23 | as ofOct 31 ’22 | as ofOct 31 ’21 | |
| 450M+1.2% | 444M-6.7% | 476M-17.9% | 580M+6.8% | 543M+132.2% | ||
| Cash & equivalents | 278M+87.7% | 148M-40.7% | 250M-45.4% | 458M+6.0% | 432M+188.4% | |
| Short-term investments | — | 109M+5.2% | 104M | — | — | |
| Accounts receivable | 4.00M-66.0% | 11.8M+208.5% | 3.81M-22.0% | 4.88M-66.8% | 14.7M+54.0% | |
| Inventory | 86.2M-24.2% | 114M+34.6% | 84.5M-7.1% | 90.9M+35.5% | 67.1M+31.6% | |
| Prepaid expenses | — | — | — | — | 5.17M+18.8% | |
| Other current assets | 15.9M+24.9% | 12.7M-1.1% | 12.9M+17.2% | 11.0M+19.7% | 9.18M+45.5% | |
| 932M-1.3% | 944M-1.2% | 956M+1.7% | 940M+7.4% | 875M+67.2% | ||
| Property, plant & equipment | 96.4M-26.2% | 131M+45.7% | 89.7M+54.2% | 58.1M+47.5% | 39.4M+8.5% | |
| Operating lease right-of-use | 11.2M+38.3% | 8.12M-2.8% | 8.35M+16.2% | 7.19M-11.3% | 8.11M-19.7% | |
| Goodwill | — | 4.08M+0.0% | 4.08M+0.0% | 4.08M+0.0% | 4.08M+0.0% | |
| Intangible assets | 3.89M-73.7% | 14.8M-8.1% | 16.1M-7.5% | 17.4M-6.9% | 18.7M-6.5% | |
| Other non-current assets | 104M+113.5% | 48.5M-5.1% | 51.2M+274.6% | 13.7M-19.6% | 17.0M+10.8% | |
| 67.8M-8.2% | 73.9M+12.1% | 65.9M-23.2% | 85.8M+62.6% | 52.8M-10.4% | ||
| Accounts payable | 17.0M-24.7% | 22.6M-14.8% | 26.5M-6.0% | 28.2M+46.3% | 19.3M+101.2% | |
| Accrued liabilities | 31.3M+3.1% | 30.4M+15.4% | 26.3M-4.0% | 27.4M+70.3% | 16.1M+2.7% | |
| Deferred revenue | 2.73M-35.3% | 4.23M+75.6% | 2.41M-85.3% | 16.3M+159.9% | 6.29M-39.5% | |
| Short-term & current debt | 15.8M-0.5% | 15.9M+58.2% | 10.1M-23.7% | 13.2M+30.9% | 10.1M-52.8% | |
| Current lease liability | 932K+15.5% | 807K+34.7% | 599K-7.8% | 650K-37.0% | 1.03M+9.9% | |
| Finance lease liability (current) | — | — | — | 40.0K | — | |
| 201M-7.2% | 217M+11.0% | 195M+5.3% | 185M+9.1% | 170M-36.9% | ||
| Long-term debt | 104M-10.3% | 116M+5.8% | 109M+58.1% | 69.2M-10.9% | 77.6M-46.1% | |
| Deferred revenue (non-current) | 5.99M+98.8% | 3.01M+311.2% | 732K-92.0% | 9.10M-70.1% | 30.4M-3.4% | |
| Non-current lease liability | 12.0M+34.4% | 8.89M-1.1% | 8.99M+18.7% | 7.58M-6.4% | 8.09M-17.6% | |
| Operating lease liability (total) | 12.9M+32.8% | 9.70M+1.1% | 9.59M+16.6% | 8.22M-9.9% | 9.13M-15.2% | |
| Finance lease liability (total) | — | — | 12.0K-78.9% | 57.0K-44.1% | 102K+168.4% | |
| Other non-current liabilities | 115M-11.9% | 131M+9.4% | 120M+44.3% | 82.9M+5.4% | 78.6M-47.8% | |
| 662M+0.8% | 657M-3.7% | 682M-0.3% | 684M+6.5% | 642M+230.2% | ||
| Common stock | 5.00K+150.0% | 2.00K+0.0% | 2.00K-95.1% | 41.0K+10.8% | 37.0K+27.6% | |
| Additional paid-in capital | 2.49B+8.4% | 2.30B+4.6% | 2.20B+5.0% | 2.09B+9.7% | 1.91B+40.4% | |
| Retained earnings | -1.83B-11.4% | -1.64B-8.3% | -1.52B-7.6% | -1.41B-11.3% | -1.27B-8.7% | |
| Treasury stock | 1.41M+17.4% | 1.20M+11.1% | 1.08M+26.1% | 855K+45.9% | 586K+35.6% | |
| Accumulated other comprehensive income | -1.70M-8.6% | -1.56M+6.6% | -1.67M+4.6% | -1.75M-113.9% | -819K-10.8% | |
| Non-controlling interest | 9.11M-14.8% | 10.7M-40.5% | 18.0M+152.7% | 7.11M | — | |
| Total equity incl. non-controlling | 671M+0.6% | 668M-4.7% | 700M+1.3% | 691M+7.6% | 642M+230.2% | |
| Total liabilities & equity | 932M-1.3% | 944M-1.2% | 956M+1.7% | 940M+7.4% | 875M+67.2% | |
| Common shares issued | 46.1M+126.1% | 20.4M+35.7% | 15.0M+11.1% | 13.5M+10.6% | 12.2M+24.4% | |
| Common shares outstanding | 46.1M+126.1% | 20.4M+35.7% | 15.0M+11.1% | 13.5M+10.6% | 12.2M+24.4% | |
| Shares outstanding (cover) | 47.7M+133.4% | 20.4M+35.8% | 15.1M+11.4% | 13.5M+10.6% | 12.2M+13.7% | |
| Cash Flow | as ofOct 31 ’25 | as ofOct 31 ’24 | as ofOct 31 ’23 | as ofOct 31 ’22 | as ofOct 31 ’21 | |
| -125M+18.1% | -153M-9.0% | -140M-25.0% | -112M-59.2% | -70.4M-91.5% | ||
| Depreciation & amortization | 40.4M+11.6% | 36.2M+42.6% | 25.4M+19.3% | 21.3M+7.1% | 19.9M+2.6% | |
| Intangible amortization | 1.30M+0.0% | 1.30M+0.0% | 1.30M+0.0% | 1.30M+0.0% | 1.30M | |
| Share-based compensation | 11.1M-5.7% | 11.8M-1.6% | 12.0M+76.0% | 6.79M+58.2% | 4.29M+129.8% | |
| Change in receivables | -7.75M-197.6% | 7.94M+838.1% | -1.08M+88.3% | -9.20M-278.0% | 5.17M-17.6% | |
| Change in inventory | -15.9M-154.3% | 29.2M+724.1% | -4.69M-116.7% | 28.1M+49.6% | 18.8M+788.4% | |
| Change in payables | -2.76M-176.1% | -999K-133.3% | 3.00M-52.6% | 6.33M+218.5% | 1.99M+128.2% | |
| 88.9M+248.0% | -60.0M+68.8% | -192M-312.3% | -46.7M+36.3% | -73.2M-125.2% | ||
| Capital expenditure | 18.6M-61.0% | 47.7M+21.3% | 39.4M+86.7% | 21.1M+231.8% | 6.35M+1563.1% | |
| Free cash flow | -144M+28.3% | -201M-11.7% | -180M-34.8% | -133M-73.5% | -76.8M-106.6% | |
| Acquisitions | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| 169M+38.6% | 122M-19.1% | 151M-16.3% | 181M-56.2% | 412M+85.8% | ||
| Long-term debt issued | 0.00-100.0% | 23.1M-77.0% | 101M | 0.00-100.0% | 10.2M-88.4% | |
| Long-term debt repaid | 14.4M+23.4% | 11.7M-75.5% | 47.8M+401.2% | 9.54M-90.3% | 98.6M+227.5% | |
| Common stock issued | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock repurchased | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Dividends paid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| FX effect on cash | 77.0K-30.6% | 111K+38.8% | 80.0K+108.6% | -933K-1066.3% | -80.0K+13.0% | |
| Net change in cash | 133M+246.5% | -90.7M+50.0% | -181M-971.1% | 20.8M-92.2% | 268M+76.1% | |
| Interest paid | 7.25M+6.7% | 6.80M+120.1% | 3.09M+98.5% | 1.56M-73.0% | 5.76M-31.2% | |
| Income taxes paid | 154K+862.5% | 16.0K+166.7% | 6.00K+200.0% | 2.00K-66.7% | 6.00K+200.0% | |
| Valuation Ratios | as ofOct 31 ’25 | as ofOct 31 ’24 | as ofOct 31 ’23 | as ofOct 31 ’22 | as ofOct 31 ’21 | |
| Market cap | 427M+104.8% | 209M-57.6% | 492M-61.1% | 1.27B-56.8% | 2.93B+511.9% | |
| P/S | 2.7×+45.2% | 1.9×-53.4% | 4.0×-58.9% | 9.7×-75.9% | 40.3×+446.7% | |
| P/B | 0.6×+103.2% | 0.3×-56.0% | 0.7×-61.0% | 1.8×-57.9% | 4.4×-11.5% | |
| Source filing | 10-K | 10-K | 10-K | 10-K | 10-K |
About this data
Source: FCEL’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all FCEL filings on SEC EDGAR → Not investment advice.