Fuelcell Energy (FCEL) Operating Leases (2020 - 2026)
Fuelcell Energy (FCEL) reported Operating Leases of $11.64 million for fiscal Q3 2026 (quarter ended Jul 31, 2026), down 0.6% from $11.71 million a year earlier and down 1.4% from the prior quarter.
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Analysis
Fuelcell Energy (FCEL) Operating Leases (2020 - 2026) Analysis & Trends
At the end of FY2025 (ended Oct 31, 2025), Fuelcell Energy posted Operating Leases of $11.95 million, up 34.4% from FY2024.
- Operating Leases has a five-year compound annual growth rate of 4.0% (FY2020 to FY2025).
- By fiscal year, Operating Leases came in at $8.89 million in FY2024 (-1.1%), $8.99 million in FY2023 (+18.7%), $7.58 million in FY2022 (-6.4%) and $8.09 million in FY2021 (-17.6%).
- The fiscal Q3 2026 figure ranks as the lowest quarterly Operating Leases since fiscal Q2 2025.
- Year over year, Operating Leases gained in four of the last eight quarters, with growth averaging 17.1%.
- The high point for year-over-year Operating Leases in five years was fiscal Q2 2026 (growth of 41.3%); the low point was fiscal Q4 2021 (a decline of 17.6%).
- Per Business Quant data, the three fiscal quarters before Q3 2026 came in at $11.8 million (Q2 2026), $11.86 million (Q1 2026) and $11.95 million (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | GE Vernova | 243.42 Bn | 203.34 Bn | 2.36 Bn |
| 2 | Bloom Energy | 64.86 Bn | 56.65 Bn | 355.57 Mn |
| 3 | First Solar | 18.49 Bn | 9.44 Bn | 605.00 Mn |
| 4 | BWX Technologies | 12.47 Bn | 10.77 Bn | 202.31 Mn |
| 5 | Nextpower | 12.04 Bn | 7.93 Bn | 335.85 Mn |
| 6 | Generac Holdings | 11.40 Bn | 10.23 Bn | 521.81 Mn |
| 7 | EnerSys | 6.16 Bn | 4.36 Bn | 313.36 Mn |
| 8 | Enphase Energy | 4.04 Bn | -817.10 Mn | 175.01 Mn |
| 9 | Mirion Technologies | 3.66 Bn | 1.50 Bn | 133.10 Mn |
| 10 | Fuelcell Energy | 903.66 Mn | -717.54 Mn | -24.50 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jul 31, 2026 | 11.64 Mn |
| Apr 30, 2026 | 11.80 Mn |
| Jan 31, 2026 | 11.86 Mn |
| Oct 31, 2025 | 11.95 Mn |
| Jul 31, 2025 | 11.71 Mn |
| Apr 30, 2025 | 8.35 Mn |
| Jan 31, 2025 | 8.69 Mn |
| Oct 31, 2024 | 8.89 Mn |
| Jul 31, 2024 | 8.71 Mn |
| Apr 30, 2024 | 8.86 Mn |
| Jan 31, 2024 | 8.91 Mn |
| Oct 31, 2023 | 8.99 Mn |
| Jul 31, 2023 | 9.28 Mn |
| Apr 30, 2023 | 9.39 Mn |
| Jan 31, 2023 | 9.50 Mn |
| Oct 31, 2022 | 7.58 Mn |
| Jul 31, 2022 | 7.62 Mn |
| Apr 30, 2022 | 7.71 Mn |
| Jan 31, 2022 | 7.82 Mn |
| Oct 31, 2021 | 8.09 Mn |
API Access
Fuelcell Energy Operating Leases 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=operating-leases&ticker=FCEL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-leases", "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=operating-leases&ticker=FCEL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();