Fuelcell Energy (FCEL) Accumulated Expenses (2010 - 2026)
Fuelcell Energy (FCEL) recorded Accumulated Expenses of $40.53 million in fiscal Q3 2026 (quarter ended Jul 31, 2026), up 35.7% from $29.87 million a year earlier and up 68.0% from the prior quarter.
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Analysis
Fuelcell Energy (FCEL) Accumulated Expenses (2010 - 2026) Analysis & Trends
At the end of FY2025 (ended Oct 31, 2025), Fuelcell Energy reported Accumulated Expenses of $31.32 million, up 3.1% from FY2024.
- Annual Accumulated Expenses has a five-year compound annual growth rate of 14.8% (FY2020 to FY2025).
- Across earlier fiscal years, Accumulated Expenses came in at $30.36 million in FY2024 (+15.4%), $26.31 million in FY2023 (-4.0%), $27.42 million in FY2022 (+70.3%) and $16.1 million in FY2021 (+2.7%).
- The fiscal Q3 2026 figure is the highest quarterly Accumulated Expenses in data going back to fiscal Q4 2010.
- On a year-over-year basis, Accumulated Expenses rose in seven of the last eight quarters, with growth averaging 10.0%.
- Peak year-over-year performance for Accumulated Expenses in the last five years was growth of 141.5% in fiscal Q1 2022, against a decline of 21.8% in fiscal Q1 2023 at the low end.
- Per Business Quant, the preceding three fiscal quarters came in at $24.12 million (Q2 2026), $24.87 million (Q1 2026) and $31.32 million (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | GE Vernova | 243.42 Bn | 203.34 Bn | 2.36 Bn |
| 2 | Bloom Energy | 64.86 Bn | 56.65 Bn | 355.57 Mn |
| 3 | First Solar | 18.49 Bn | 9.44 Bn | 605.00 Mn |
| 4 | BWX Technologies | 12.47 Bn | 10.77 Bn | 202.31 Mn |
| 5 | Nextpower | 12.04 Bn | 7.93 Bn | 335.85 Mn |
| 6 | Generac Holdings | 11.40 Bn | 10.23 Bn | 521.81 Mn |
| 7 | EnerSys | 6.16 Bn | 4.36 Bn | 313.36 Mn |
| 8 | Enphase Energy | 4.04 Bn | -817.10 Mn | 175.01 Mn |
| 9 | Mirion Technologies | 3.66 Bn | 1.50 Bn | 133.10 Mn |
| 10 | Fuelcell Energy | 903.66 Mn | -717.54 Mn | -24.50 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jul 31, 2026 | 40.53 Mn |
| Apr 30, 2026 | 24.12 Mn |
| Jan 31, 2026 | 24.87 Mn |
| Oct 31, 2025 | 31.32 Mn |
| Jul 31, 2025 | 29.87 Mn |
| Apr 30, 2025 | 24.95 Mn |
| Jan 31, 2025 | 23.55 Mn |
| Oct 31, 2024 | 30.36 Mn |
| Jul 31, 2024 | 25.97 Mn |
| Apr 30, 2024 | 24.14 Mn |
| Jan 31, 2024 | 22.32 Mn |
| Oct 31, 2023 | 26.31 Mn |
| Jul 31, 2023 | 23.05 Mn |
| Apr 30, 2023 | 22.87 Mn |
| Jan 31, 2023 | 20.31 Mn |
| Oct 31, 2022 | 27.42 Mn |
| Jul 31, 2022 | 22.54 Mn |
| Apr 30, 2022 | 24.01 Mn |
| Jan 31, 2022 | 25.99 Mn |
| Oct 31, 2021 | 16.10 Mn |
API Access
Fuelcell Energy Accumulated Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=accumulated-expenses&ticker=FCEL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "accumulated-expenses", "ticker": "FCEL", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=accumulated-expenses&ticker=FCEL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();