FUELCELL ENERGY INC
FCELNasdaqTechnology · Electrical Industrial Apparatus · DE · SEC filings ↗ · Compare ⊕
View price & chart on Yahoo Finance ↗Financials
SEC XBRL · annual| FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | |
|---|---|---|---|---|---|---|
| Revenue | $158.2M | $112.1M | $123.4M | $130.5M | $69.6M | $16.3M |
| Operating income | −$192.3M | −$158.5M | −$136.1M | −$143.7M | −$64.9M | −$3.1M |
| Net income | −$187.9M | −$126.0M | −$107.6M | −$142.7M | −$101.1M | −$40.2M |
| Total assets | $932.1M | $944.1M | $955.5M | $939.7M | $875.2M | $523.5M |
| Total liabilities | $201.0M | $216.7M | $195.2M | $185.3M | $169.9M | $269.1M |
| Equity | $662.2M | $656.9M | $682.5M | $684.4M | $642.4M | $194.5M |
| EPS (diluted) | $-7.42 | $-7.83 | $-7.92 | $-11.43 | $-0.31 | $-0.42 |
| Shares out. | 47.7M | 20.4M | 451.8M | 405.7M | 322.4M | 211.0M |
Reported figures from the company's SEC filings (XBRL). Blank where a line item isn't cleanly tagged — never estimated.
Key ratios
from filings · FY2025- Operating margin
- −121.6%
- Net margin
- −118.8%
- Return on equity
- −28.4%
- Return on assets
- −20.2%
- Return on capital (ROCE)
- −22.3%
- Liabilities / assets
- 21.6%
- Debt / equity
- 0.30×
- Book value / share
- $13.87
- Revenue growth (YoY)
- 41.0%
- Net income growth (YoY)
- —
Computed from the company's own SEC figures — no market price, so these are facts, not a valuation. Book value per share is reported equity ÷ shares; it is not the stock price.
Financial health
forensic scores · FY2025- Altman Z″ (distress)
- -1.64distress
- Accruals / assets
- −6.7%clean
- Piotroski F-Score
- 5/9mixed
Altman Z″is a textbook bankruptcy-distress score from book values only (>2.6 safe · 1.1–2.6 grey · <1.1 distress). Accruals = (net income − operating cash flow) ÷ assets; persistently high accruals are an earnings-quality red flag. Beneish M-Scoreis an eight-ratio screen comparing this year with last (M > −1.78 = elevated manipulation-risk screen, not proof). Piotroski F-Scorecounts how many of nine fundamental-health checks pass (shown as passed / applicable; we use operating margin and total liabilities as documented proxies where the exact input isn't XBRL-tagged). Computed from SEC filings — descriptive factors, not advice or a forecast.
Quality score
EDS ScoreOur own multi-factor score from free SEC data — profitability, growth, financial strength, earnings quality, and event/ownership catalysts. No market price and no licensed model: each axis is the share of source-backed checks it passes. Descriptive factors, not advice or a forecast.
Signs
● 2 severe● 3 warning● 3 good- Altman Z″ in the distress zone
- Filed a late-filing notice (Form NT) — missed an SEC deadline
- Operating losses (negative operating margin)
- Reported a net loss
- Negative operating cash flow
- Revenue is growing year-over-year
- Conservative leverage (liabilities < 50% of assets)
- Clean earnings (low accruals)
Derived from the company's own SEC figures (fundamentals, forensic scores, filing discipline) — descriptive factors, not advice or a forecast.
Risk flags
late SEC filings- NT 10-Qmissed a reporting deadline ↗Jun 11, 2019
A Form NT means the company notified the SEC it would file a periodic report late — often an accounting, audit or liquidity warning sign. Also search SEC enforcement actions for this company.
5%+ owners
SEC Schedule 13D / 13G · last 3 yrs- Vanguard Group IncPassive (13G)Mar 26, 2026
- Legal & General Group PlcPassive (13G)Feb 11, 2026
- Blackrock, Inc.Passive (13G)Jul 17, 2025
Holders who disclosed a 5%+ stake. 13D signals intent to influence or control; 13G is a passive holding. Latest filing per holder — open it for the exact stake.
Short interest
FINRA · bi-monthly| Settlement | Shares short | Days to cover | Δ vs prior |
|---|---|---|---|
| May 15, 2026 | 5.5M | 1.0 | +19.2% |
| Apr 30, 2026 | 4.6M | 1.0 | +17.4% |
| Apr 15, 2026 | 3.9M | 2.5 | +1.3% |
| Mar 31, 2026 | 3.9M | 3.3 | +8.9% |
| Mar 13, 2026 | 3.5M | 2.4 | +4.8% |
Shares sold short as reported to FINRA. Days-to-cover = short shares ÷ average daily volume — higher means more potential squeeze pressure.
Material events
SEC Form 8-K · most recent- Director / officer change · Regulation FD disclosureMay 21, 2026
- Director / officer change · Shareholder voteApr 6, 2026
- Results of operations · Regulation FD disclosureMar 9, 2026
- Director / officer changeFeb 4, 2026
- Director / officer change · Other material eventJan 7, 2026
- Entered a material agreementDec 30, 2025
- Results of operations · Regulation FD disclosureDec 18, 2025
- Director / officer changeDec 1, 2025
Events the company reported on Form 8-K, labelled by the SEC item code it filed under — its own classification, not our interpretation.
Recent SEC filings
All filings ↗Event-driven situations (1)
Spot an error in this record? Report it. Every correction is verified against the source filing before we change anything.