Fuelcell Energy (FCEL) EBITDA (2010 - 2026)
Fuelcell Energy's (FCEL) quarterly EBITDA came in at -$77.9 million in Q2 2026, down 106.41% YoY from $1.2 billion in Q2 2025, and down 198.37% on a QoQ basis from -$26.1 million in Q1 2026.
Fuelcell Energy (FCEL) EBITDA (2010 - 2026) Analysis & Trends
Fuelcell Energy's EBITDA history runs 17 years deep, the most recent figure standing at -$77.9 million for Q2 2026.
- On a quarterly basis, EBITDA fell 106.41% year-over-year to -$77.9 million in Q2 2026; TTM through Apr 2026 was -$222.0 million, a 101.62% decrease from a year earlier, with the FY2025 full-year figure at -$188.0 million, down 49.35% from the prior year.
- EBITDA was -$77.9 million for Q2 2026 at Fuelcell Energy, down from -$26.1 million in the prior quarter.
- Over the last five years, EBITDA for FCEL reached as high as -$8.8 million in Q4 2024 and fell as low as -$92.3 million in Q3 2025.
- A 5-year average of -$35.7 million and a median of -$30.3 million in 2022 frame the typical range for EBITDA.
- The widest annual swing landed in 2022, when EBITDA sank 212.0%; it then soared 71.02% in 2024.
- Tracing FCEL's EBITDA over 5 years: stood at -$42.6 million in 2022, then increased by 28.63% to -$30.4 million in 2023, then soared by 71.02% to -$8.8 million in 2024, then plunged by 191.31% to -$25.7 million in 2025, then slumped by 203.51% to -$77.9 million in 2026.
- According to Business Quant data, EBITDA over the past three periods registered -$77.9 million, -$26.1 million, and -$25.7 million for Q2 2026, Q1 2026, and Q4 2025 respectively.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA (Qtr) |
|---|---|---|---|---|---|
| 1 | Novonix | 479.97 Bn | 479.92 Bn | - | - |
| 2 | Vertiv Holdings | 114.69 Bn | 112.19 Bn | 999.70 Mn | 440.10 Mn |
| 3 | Bloom Energy | 79.53 Bn | 77.06 Bn | 225.54 Mn | 72.20 Mn |
| 4 | nVent Electric | 27.08 Bn | 26.89 Bn | 445.60 Mn | 145.60 Mn |
| 5 | Hubbell | 26.67 Bn | 26.16 Bn | 505.30 Mn | 263.80 Mn |
| 6 | Advanced Energy Industries | 13.19 Bn | 13.19 Bn | 200.90 Mn | 68.30 Mn |
| 7 | Powell Industries | 10.63 Bn | 10.09 Bn | 87.94 Mn | 57.58 Mn |
| 8 | Ballard Power Systems | 10.07 Bn | 9.54 Bn | 5.64 Mn | 11.60 Mn |
| 9 | Acuity Inc. (De) | 9.39 Bn | 9.12 Bn | 520.40 Mn | 117.50 Mn |
| 10 | Fuelcell Energy | 1.02 Bn | 1.02 Bn | -12.93 Mn | -77.95 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Apr 30, 2026 | -77.95 Mn |
| Jan 31, 2026 | -26.13 Mn |
| Oct 31, 2025 | -25.68 Mn |
| Jul 31, 2025 | -92.27 Mn |
| Apr 30, 2025 | -37.76 Mn |
| Jan 31, 2025 | -28.56 Mn |
| Oct 31, 2024 | -8.82 Mn |
| Jul 31, 2024 | -34.98 Mn |
| Apr 30, 2024 | -32.22 Mn |
| Jan 31, 2024 | -19.76 Mn |
| Oct 31, 2023 | -30.42 Mn |
| Jul 31, 2023 | -23.77 Mn |
| Apr 30, 2023 | -35.86 Mn |
| Jan 31, 2023 | -22.46 Mn |
| Oct 31, 2022 | -42.62 Mn |
| Jul 31, 2022 | -29.06 Mn |
| Apr 30, 2022 | -30.28 Mn |
| Jan 31, 2022 | -44.84 Mn |
| Oct 31, 2021 | -22.55 Mn |
| Jul 31, 2021 | -12.00 Mn |