Fuelcell Energy (FCEL) Invested Capital (2010 - 2026)
Fuelcell Energy's Invested Capital came in at $1 billion for fiscal Q3 2026 (quarter ended Jul 31, 2026), up 72.1% from $581.93 million a year earlier and up 34.3% from the prior quarter.
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Analysis
Fuelcell Energy (FCEL) Invested Capital (2010 - 2026) Analysis & Trends
For FY2025 (ended Oct 31, 2025), Fuelcell Energy's Invested Capital was $687.13 million, up 0.5% from FY2024.
- Invested Capital carries a five-year compound annual growth rate of 26.1% (FY2020 to FY2025).
- Going back by fiscal year, Invested Capital was $683.53 million in FY2024 (-3.8%), $710.52 million in FY2023 (+0.8%), $704.7 million in FY2022 (+8.0%) and $652.52 million in FY2021 (+202.2%).
- The fiscal Q3 2026 figure represents the highest quarterly Invested Capital in data going back to fiscal Q4 2010.
- Year-over-year, Invested Capital has increased for four consecutive quarters, with growth averaging 8.8% over the last eight quarters.
- The fastest year-over-year change in Invested Capital over five years came in fiscal Q4 2021 (growth of 202.2%), and the weakest in fiscal Q3 2025 (a decline of 16.5%).
- Business Quant data shows FCEL's Invested Capital at $745.86 million (Q2 2026), $721.94 million (Q1 2026) and $687.13 million (Q4 2025) in the three fiscal quarters before Q3 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Invested Cap. (Qtr) |
|---|---|---|---|---|---|
| 1 | GE Vernova | 248.15 Bn | 208.07 Bn | 2.36 Bn | 15.91 Bn |
| 2 | Bloom Energy | 68.75 Bn | 60.54 Bn | 355.57 Mn | 1.64 Bn |
| 3 | First Solar | 18.79 Bn | 9.74 Bn | 605.00 Mn | 10.36 Bn |
| 4 | BWX Technologies | 12.38 Bn | 10.68 Bn | 202.31 Mn | 3.35 Bn |
| 5 | Nextpower | 12.31 Bn | 8.20 Bn | 335.85 Mn | - |
| 6 | Generac Holdings | 11.97 Bn | 10.80 Bn | 521.81 Mn | 4.21 Bn |
| 7 | EnerSys | 6.45 Bn | 4.64 Bn | 313.36 Mn | 3.01 Bn |
| 8 | Enphase Energy | 4.22 Bn | -643.57 Mn | 175.01 Mn | 1.75 Bn |
| 9 | Mirion Technologies | 3.76 Bn | 1.60 Bn | 133.10 Mn | 2.32 Bn |
| 10 | Fuelcell Energy | 935.34 Mn | -685.86 Mn | -24.50 Mn | 1.00 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jul 31, 2026 | 1.00 Bn |
| Apr 30, 2026 | 745.86 Mn |
| Jan 31, 2026 | 721.94 Mn |
| Oct 31, 2025 | 687.13 Mn |
| Jul 31, 2025 | 581.93 Mn |
| Apr 30, 2025 | 636.08 Mn |
| Jan 31, 2025 | 662.13 Mn |
| Oct 31, 2024 | 683.53 Mn |
| Jul 31, 2024 | 697.34 Mn |
| Apr 30, 2024 | 663.83 Mn |
| Jan 31, 2024 | 692.37 Mn |
| Oct 31, 2023 | 710.52 Mn |
| Jul 31, 2023 | 717.76 Mn |
| Apr 30, 2023 | 659.51 Mn |
| Jan 31, 2023 | 688.62 Mn |
| Oct 31, 2022 | 704.70 Mn |
| Jul 31, 2022 | 706.59 Mn |
| Apr 30, 2022 | 707.44 Mn |
| Jan 31, 2022 | 606.46 Mn |
| Oct 31, 2021 | 652.52 Mn |
API Access
Fuelcell Energy Invested Capital 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=invested-capital&ticker=FCEL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "invested-capital", "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=invested-capital&ticker=FCEL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();