FuelCell Energy Inc (FCEL) Fair Value & Analysis
Industrials · US · Market cap $1.6B · ISIN US35952H7008
What is FuelCell Energy Inc really worth?
FuelCell Energy Inc
FCEL · US
A solid business, but trading 381% above our fair value of $3.55.
Risks
Fair value as of: Aug 13, 2026
From 1 valuation models · updated 19 days ago
Share price −21.0% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price sits above even our optimistic bull case ($4.43). The favourable scenario is already priced in.
- The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
- Solid but not exceptional quality (52/100) and above fair value, neither a clear bargain nor a standout compounder.
- A fairly wide model range ($2.34 to $4.43) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.
How to read this chart
60‑month range $3.73 – $364.20 · fair‑value band $2.34 – $4.43 · the $17.08 price screens above the $3.55 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Aug 13, 2026.
Analysis
FuelCell Energy Inc (FCEL) currently trades at $17.08, while our model-based Fair Value estimate is $3.55, implying the stock looks roughly 381.2% overvalued today. The Quality Score stands at 52/100 (solid quality), in the Industrials sector. How firm this estimate is: it rests on 1 models at a data quality of 93/100, which puts the evidence level at low.
Trailing-twelve-month revenue stands at $168M. Revenue declined 4.9% year over year. It earns a return on equity of −30.7%. The balance sheet holds a net cash position of $134M. Fundamentals as of Aug 13, 2026
Our scenario range runs from $2.34 (bear case) to $4.43 (bull case); at $17.08, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 38% below its 52-week high and 352% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at −44% fair-value upside, at −79%, FCEL screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 1 models by family
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 52 · Market factors (momentum, volatility) 52
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
FuelCell Energy, Inc., together with its subsidiaries, engages in the design, development, production, construction, operation, and servicing of high temperature fuel cells for clean electric power generation.
Full company description
FuelCell Energy, Inc., together with its subsidiaries, engages in the design, development, production, construction, operation, and servicing of high temperature fuel cells for clean electric power generation. The company engages in the provision of carbonate fuel cell technology; and commercialization of solid oxide electrolysis technology for distributed hydrogen. It also offers carbonate fuel cell products in various configurations and applications of its platform, including on-site power, grid support, and microgrid; carbon capture, recovery, and utilization technologies; and carbonate-based Tri-gen system that produces zero-carbon hydrogen. In addition, the company sells electricity, heat, steam, capacity, and renewable energy credits. In addition, the company provides turn-key solutions, including development, engineering, procurement, construction, interconnection, and operation services for fuel cell projects. It serves utilities and independent power producers, data centers, wastewater treatment, commercial and hospitality, and microgrids; and industrial, commercial, municipal, and government customers, including manufacturing facilities, pharmaceutical processing facilities, universities, and healthcare facilities. 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.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
FuelCell Energy Inc reported revenue of $158M in FY2025 versus $69.6M in FY2021, a compound +22.8%/yr. Reported net income was −$188M in FY2025.
FCEL screens 381% overvalued. Compare with Contemporary Amperex Technology Co →
Earlier news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- FuelCell Energy Jumps 5%, Plug Power Climbs 4%, Bloom Energy Slips as the Hydrogen Trade Splits
- FuelCell Energy Sinks 8%, Bloom Energy Falls 3%, Plug Power Drops 3%: What’s Behind the Hydrogen Stock Selloff?
- Has FuelCell Energy (FCEL) Outpaced Other Oils-Energy Stocks This Year?
Peer Group
Electrical Equipment & Parts · 547 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Electrical Equipment & Parts median · lower = cheaper
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Insider activity: 46/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Electrical Equipment & Parts stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).
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|---|---|---|---|
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| Vertiv Holdings VRT | $257.08 | $63.13 | −75% |
| LG Energy Solution, Ltd 373220 | 365,500 KRW | 201,455 KRW | −45% |
| Prysmian S.p.A PRY | €117.10 | €84.15 | −28% |
| Legrand SA LR | €139.65 | €78.82 | −44% |
| Sungrow Power Supply Co 300274 | ¥117.53 | ¥123.83 | +5% |
| Hubbell Incorporated HUBB | $472.46 | $285.77 | −40% |
| Shenzhen Inovance Technology Co 300124 | ¥61.07 | ¥33.04 | −46% |
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