Fuelcell Energy (FCEL) Cost of Revenue (2010 - 2026)
Fuelcell Energy (FCEL) posted Cost of Revenue of $48.5 million for Q2 2026, up 33.34% sequentially from $36.4 million in Q1 2026, and up 3.57% YoY from $46.8 million in Q2 2025.
Fuelcell Energy (FCEL) Cost of Revenue (2010 - 2026) Analysis & Trends
Fuelcell Energy has reported Cost of Revenue for 17 years, with the latest figure at $48.5 million in Q2 2026.
- Quarterly Cost of Revenue rose 3.57% year-over-year to $48.5 million in Q2 2026, while the trailing twelve-month figure through Apr 2026 was $198.4 million (up 23.11% YoY) and the FY2025 annual result came in at $184.6 million, up 24.67% from the prior year.
- Cost of Revenue improved to $48.5 million in Q2 2026 per FCEL's latest filing, from $36.4 million in the prior quarter.
- Over five years, Cost of Revenue peaked at $61.6 million in Q4 2025 and troughed at $23.7 million in Q2 2022.
- A 5-year average of $39.5 million and a median of $35.5 million in 2022 frame the typical range for Cost of Revenue.
- The sharpest annual moves came in 2023 and 2024: Cost of Revenue slumped 56.01% in 2023, then surged 151.79% in 2024.
- Over 5 years, Cost of Revenue stood at $54.4 million in 2022, then plunged by 56.01% to $23.9 million in 2023, then soared by 151.79% to $60.2 million in 2024, then grew by 2.33% to $61.6 million in 2025, then decreased by 21.3% to $48.5 million in 2026.
- According to Business Quant data, Cost of Revenue over the past three periods registered $48.5 million, $36.4 million, and $61.6 million for Q2 2026, Q1 2026, and Q4 2025 respectively.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Vertiv Holdings | 100.83 Bn | 97.72 Bn | 1.23 Bn | 2.04 Bn |
| 2 | Bloom Energy | 57.56 Bn | 54.89 Bn | 355.57 Mn | 709.79 Mn |
| 3 | Hubbell | 24.89 Bn | 24.50 Bn | 613.00 Mn | 1.10 Bn |
| 4 | nVent Electric | 24.60 Bn | 24.35 Bn | 558.00 Mn | 913.30 Mn |
| 5 | Advanced Energy Industries | 11.11 Bn | 9.69 Bn | 236.10 Mn | 338.00 Mn |
| 6 | Acuity Inc. (De) | 10.38 Bn | 9.97 Bn | 606.40 Mn | 591.60 Mn |
| 7 | Powell Industries | 7.20 Bn | 6.57 Bn | 95.30 Mn | 216.44 Mn |
| 8 | EnerSys | 6.92 Bn | 6.39 Bn | 313.36 Mn | 538.65 Mn |
| 9 | Plug Power | 3.17 Bn | 2.85 Bn | -1.68 Mn | 179.97 Mn |
| 10 | Fuelcell Energy | 1.05 Bn | 675.77 Mn | -12.93 Mn | 48.52 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Apr 30, 2026 | 48.52 Mn |
| Apr 30, 2026 | 48.52 Mn |
| Jan 31, 2026 | 36.39 Mn |
| Jan 31, 2026 | 36.39 Mn |
| Oct 31, 2025 | 61.65 Mn |
| Oct 31, 2025 | 61.65 Mn |
| Jul 31, 2025 | 51.88 Mn |
| Jul 31, 2025 | 51.88 Mn |
| Apr 30, 2025 | 46.84 Mn |
| Apr 30, 2025 | 46.84 Mn |
| Jan 31, 2025 | 24.20 Mn |
| Jan 31, 2025 | 24.20 Mn |
| Oct 31, 2024 | 60.24 Mn |
| Oct 31, 2024 | 60.24 Mn |
| Jul 31, 2024 | 29.90 Mn |
| Jul 31, 2024 | 29.90 Mn |
| Apr 30, 2024 | 29.49 Mn |
| Apr 30, 2024 | 29.49 Mn |
| Jan 31, 2024 | 28.42 Mn |
| Jan 31, 2024 | 28.42 Mn |