Fuelcell Energy (FCEL) Operating Margin (2010 - 2026)
Fuelcell Energy's (FCEL) quarterly Operating Margin came in at 218.92% in Q2 2026, down 12319.0% YoY from N/an in Q2 2025, and down 154.24% on a QoQ basis from 86.11% in Q1 2026.
Fuelcell Energy (FCEL) Operating Margin (2010 - 2026) Analysis & Trends
Fuelcell Energy's Operating Margin history runs 17 years deep, the most recent figure standing at 218.92% for Q2 2026.
- On a quarterly basis, Operating Margin fell 12319.0% year-over-year to 218.92% in Q2 2026; TTM through Apr 2026 was 135.75%, a 2502.0% decrease from a year earlier, with the FY2025 full-year figure at 121.61%, up 1973.0% from the prior year.
- Operating Margin was 218.92% for Q2 2026 at Fuelcell Energy, down from 86.11% in the prior quarter.
- Over the last five years, Operating Margin for FCEL reached as high as 51.48% in Q4 2025 and fell as low as 254.5% in Q1 2024.
- A 5-year average of 136.59% and a median of 141.46% in 2022 frame the typical range for Operating Margin.
- The widest annual swing landed in 2024, when Operating Margin sank 19393 bps; it then surged 8875 bps in 2025.
- Tracing FCEL's Operating Margin over 5 years: stood at 108.84% in 2022, then slumped by 49 bps to 161.94% in 2023, then jumped by 49 bps to 83.19% in 2024, then soared by 38 bps to 51.48% in 2025, then plunged by 325 bps to 218.92% in 2026.
- According to Business Quant data, Operating Margin over the past three periods registered 218.92%, 86.11%, and 51.48% for Q2 2026, Q1 2026, and Q4 2025 respectively.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Novonix | 479.97 Bn | 479.92 Bn | - | - |
| 2 | Vertiv Holdings | 114.69 Bn | 112.19 Bn | 999.70 Mn | 16.61% |
| 3 | Bloom Energy | 79.53 Bn | 77.06 Bn | 225.54 Mn | 9.61% |
| 4 | nVent Electric | 27.08 Bn | 26.89 Bn | 445.60 Mn | 15.76% |
| 5 | Hubbell | 26.67 Bn | 26.16 Bn | 505.30 Mn | 17.39% |
| 6 | Advanced Energy Industries | 13.19 Bn | 13.19 Bn | 200.90 Mn | 13.37% |
| 7 | Powell Industries | 10.63 Bn | 10.09 Bn | 87.94 Mn | 19.41% |
| 8 | Ballard Power Systems | 10.07 Bn | 9.54 Bn | 5.64 Mn | -33.48% |
| 9 | Acuity Inc. (De) | 9.39 Bn | 9.12 Bn | 520.40 Mn | 12.60% |
| 10 | Fuelcell Energy | 1.02 Bn | 1.02 Bn | -12.93 Mn | -218.92% |
Historic Data
Download Data| Date | Value |
|---|---|
| Apr 30, 2026 | -218.92% |
| Jan 31, 2026 | -86.11% |
| Oct 31, 2025 | -51.48% |
| Jul 31, 2025 | -204.02% |
| Apr 30, 2025 | -95.73% |
| Jan 31, 2025 | -172.93% |
| Oct 31, 2024 | -83.19% |
| Jul 31, 2024 | -141.87% |
| Apr 30, 2024 | -184.48% |
| Jan 31, 2024 | -254.50% |
| Oct 31, 2023 | -161.94% |
| Jul 31, 2023 | -162.27% |
| Apr 30, 2023 | -93.50% |
| Jan 31, 2023 | -60.57% |
| Oct 31, 2022 | -108.84% |
| Jul 31, 2022 | -64.95% |
| Apr 30, 2022 | -172.22% |
| Jan 31, 2022 | -141.04% |
| Oct 31, 2021 | -161.85% |
| Jul 31, 2021 | -39.47% |