Fuelcell Energy (FCEL) Operating Income (2010 - 2026)
Fuelcell Energy's (FCEL) quarterly Operating Income came in at -$77.9 million in Q2 2026, down 117.57% YoY from $443.4 million in Q2 2025, and down 196.36% on a QoQ basis from -$26.3 million in Q1 2026.
Fuelcell Energy (FCEL) Operating Income (2010 - 2026) Analysis & Trends
Fuelcell Energy's Operating Income history runs 17 years deep, the most recent figure standing at -$77.9 million for Q2 2026.
- On a quarterly basis, Operating Income fell 117.57% year-over-year to -$77.9 million in Q2 2026; TTM through Apr 2026 was -$227.9 million, a 59.02% decrease from a year earlier, with the FY2025 full-year figure at -$192.3 million, down 21.36% from the prior year.
- Operating Income was -$77.9 million for Q2 2026 at Fuelcell Energy, down from -$26.3 million in the prior quarter.
- Over the last five years, Operating Income for FCEL reached as high as -$22.5 million in Q1 2023 and fell as low as -$95.4 million in Q3 2025.
- A 5-year average of -$40.8 million and a median of -$36.1 million in 2023 frame the typical range for Operating Income.
- The widest annual swing landed in 2022, when Operating Income sank 212.0%; it then soared 49.93% in 2023.
- Tracing FCEL's Operating Income over 5 years: stood at -$42.7 million in 2022, then increased by 14.74% to -$36.4 million in 2023, then declined by 12.8% to -$41.0 million in 2024, then soared by 30.97% to -$28.3 million in 2025, then sank by 175.09% to -$77.9 million in 2026.
- According to Business Quant data, Operating Income over the past three periods registered -$77.9 million, -$26.3 million, and -$28.3 million for Q2 2026, Q1 2026, and Q4 2025 respectively.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Op. Inc (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 | 195.70 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 | -11.26 Mn |
| 9 | Acuity Inc. (De) | 9.39 Bn | 9.12 Bn | 520.40 Mn | 133.00 Mn |
| 10 | Fuelcell Energy | 1.02 Bn | 1.02 Bn | -12.93 Mn | -77.91 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Apr 30, 2026 | -77.91 Mn |
| Jan 31, 2026 | -26.29 Mn |
| Oct 31, 2025 | -28.32 Mn |
| Jul 31, 2025 | -95.36 Mn |
| Apr 30, 2025 | -35.81 Mn |
| Jan 31, 2025 | -32.85 Mn |
| Oct 31, 2024 | -41.03 Mn |
| Jul 31, 2024 | -33.62 Mn |
| Apr 30, 2024 | -41.36 Mn |
| Jan 31, 2024 | -42.48 Mn |
| Oct 31, 2023 | -36.38 Mn |
| Jul 31, 2023 | -41.40 Mn |
| Apr 30, 2023 | -35.86 Mn |
| Jan 31, 2023 | -22.46 Mn |
| Oct 31, 2022 | -42.67 Mn |
| Jul 31, 2022 | -28.00 Mn |
| Apr 30, 2022 | -28.22 Mn |
| Jan 31, 2022 | -44.84 Mn |
| Oct 31, 2021 | -22.55 Mn |
| Jul 31, 2021 | -10.59 Mn |