Fuelcell Energy (FCEL) Operating Margin (2010 - 2026)
Fuelcell Energy (FCEL) reported Operating Margin of 218.92% for Q2 2026, down 12319.0% on a YoY basis from N/an in Q2 2025, and down 154.24% sequentially from 86.11% in Q1 2026.
Fuelcell Energy (FCEL) Operating Margin (2010 - 2026) Analysis & Trends
Fuelcell Energy (FCEL) has 17 years of Operating Margin data on file, last reported at 218.92% in Q2 2026.
- For the quarter ending Q2 2026, Operating Margin fell 12319.0% year-over-year to 218.92%; the trailing twelve-month figure through Apr 2026 stood at 135.75% (down 2502.0% YoY), and the FY2025 full-year result was 121.61%, up 1973.0% from the prior year.
- Operating Margin fell to 218.92% in Q2 2026, from 86.11% in the prior quarter.
- In the past five years, Operating Margin ranged from a high of 51.48% in Q4 2025 to a low of 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.
- Across the five-year window, Operating Margin plunged 19393 bps in 2024 and soared 8875 bps in 2025, its largest moves.
- 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 surged by 49 bps to 83.19% in 2024, then jumped by 38 bps to 51.48% in 2025, then plunged by 325 bps to 218.92% in 2026.
- Business Quant data shows FCEL's Operating Margin at 218.92% in Q2 2026, 86.11% in Q1 2026, and 51.48% in Q4 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Electrovaya | 406.91 Bn | 406.88 Bn | 6.04 Mn | 12.10% |
| 2 | Vertiv Holdings | 106.92 Bn | 104.42 Bn | 999.70 Mn | 16.61% |
| 3 | Bloom Energy | 51.54 Bn | 49.04 Bn | 225.54 Mn | 9.61% |
| 4 | Hubbell | 25.76 Bn | 25.25 Bn | 505.30 Mn | 17.39% |
| 5 | nVent Electric | 23.48 Bn | 23.29 Bn | 445.60 Mn | 15.76% |
| 6 | Advanced Energy Industries | 10.92 Bn | 10.23 Bn | 200.90 Mn | 13.37% |
| 7 | Acuity Inc. (De) | 10.08 Bn | 9.67 Bn | 606.40 Mn | 16.14% |
| 8 | Powell Industries | 8.00 Bn | 7.45 Bn | 87.94 Mn | 19.41% |
| 9 | EnerSys | 6.97 Bn | 6.53 Bn | 290.87 Mn | 12.52% |
| 10 | Fuelcell Energy | 1.13 Bn | 761.72 Mn | -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% |