Fuelcell Energy (FCEL) EBITDA Margin (2010 - 2026)
Fuelcell Energy (FCEL) recorded EBITDA Margin of -112.95% in fiscal Q3 2026 (quarter ended Jul 31, 2026), up 70.22 percentage points from -183.17% a year earlier and up 75.51 percentage points from the prior quarter.
Fuelcell Energy (FCEL) EBITDA Margin (2010 - 2026) Analysis & Trends
On a TTM basis, Fuelcell Energy's EBITDA Margin came in at -89.93% as of Jul 31, 2026, up 18.72 percentage points year-over-year; for FY2025 (ended Oct 31, 2025), it was -96.07%, up 12.99 percentage points from FY2024.
- Annual EBITDA Margin has a five-year change of -68.15 percentage points (FY2020 to FY2025).
- Across earlier fiscal years, EBITDA Margin came in at -109.06% in FY2024 (-19.34 pp), -89.72% in FY2023 (+4.12 pp), -93.84% in FY2022 (-29.13 pp) and -64.71% in FY2021 (-36.79 pp).
- Quarterly EBITDA Margin has ranged from -202.98% in fiscal Q1 2024 to -33.64% in fiscal Q4 2025 over the past five years.
- On a year-over-year basis, EBITDA Margin rose in six of the last eight quarters, with an average year-over-year change of +24.14 percentage points.
- Peak year-over-year performance for EBITDA Margin in the last five years was a gain of 82.41 percentage points in fiscal Q1 2025, against a drop of 156.99 percentage points in fiscal Q1 2024 at the low end.
- Per Business Quant, the preceding three fiscal quarters came in at -188.46% (Q2 2026), -51.66% (Q1 2026) and -33.64% (Q4 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | GE Vernova | 238.25 Bn | 198.17 Bn | 2.36 Bn | 9.65% |
| 2 | Bloom Energy | 64.00 Bn | 55.79 Bn | 355.57 Mn | 18.71% |
| 3 | First Solar | 18.75 Bn | 9.70 Bn | 605.00 Mn | 56.64% |
| 4 | BWX Technologies | 12.32 Bn | 10.62 Bn | 202.31 Mn | 16.14% |
| 5 | Nextpower | 11.91 Bn | 7.80 Bn | 335.85 Mn | 21.35% |
| 6 | Generac Holdings | 11.42 Bn | 10.25 Bn | 521.81 Mn | 25.58% |
| 7 | EnerSys | 6.22 Bn | 4.41 Bn | 313.36 Mn | 19.49% |
| 8 | Enphase Energy | 4.25 Bn | -607.94 Mn | 175.01 Mn | 24.68% |
| 9 | Mirion Technologies | 3.72 Bn | 1.56 Bn | 133.10 Mn | 21.74% |
| 10 | Fuelcell Energy | 872.33 Mn | -748.87 Mn | -24.50 Mn | -112.95% |
Historic Data
| Date | Value |
|---|---|
| Jul 31, 2026 | -112.95% |
| Apr 30, 2026 | -188.46% |
| Jan 31, 2026 | -51.66% |
| Oct 31, 2025 | -33.64% |
| Jul 31, 2025 | -183.17% |
| Apr 30, 2025 | -66.62% |
| Jan 31, 2025 | -120.57% |
| Oct 31, 2024 | -65.34% |
| Jul 31, 2024 | -102.89% |
| Apr 30, 2024 | -141.88% |
| Jan 31, 2024 | -202.98% |
| Oct 31, 2023 | -132.05% |
| Jul 31, 2023 | -136.31% |
| Apr 30, 2023 | -76.21% |
| Jan 31, 2023 | -45.99% |
| Oct 31, 2022 | -96.33% |
| Jul 31, 2022 | -52.74% |
| Apr 30, 2022 | -139.68% |
| Jan 31, 2022 | -122.89% |
| Oct 31, 2021 | -126.32% |
Fuelcell Energy EBITDA Margin 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=ebitda-margin&ticker=FCEL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ebitda-margin", "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=ebitda-margin&ticker=FCEL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();