Fuelcell Energy (FCEL) Operating Margin (2010 - 2026)
Fuelcell Energy (FCEL) posted Operating Margin of 218.92% for Q2 2026, down 154.24% sequentially from 86.11% in Q1 2026, and down 12319.0% YoY from N/an in Q2 2025.
Fuelcell Energy (FCEL) Operating Margin (2010 - 2026) Analysis & Trends
Fuelcell Energy has reported Operating Margin for 17 years, with the latest figure at 218.92% in Q2 2026.
- Quarterly Operating Margin fell 12319.0% year-over-year to 218.92% in Q2 2026, while the trailing twelve-month figure through Apr 2026 was 135.75% (down 2502.0% YoY) and the FY2025 annual result came in at 121.61%, up 1973.0% from the prior year.
- Operating Margin fell to 218.92% in Q2 2026 per FCEL's latest filing, from 86.11% in the prior quarter.
- Over five years, Operating Margin peaked at 51.48% in Q4 2025 and troughed at 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 sharpest annual moves came in 2024 and 2025: Operating Margin slumped 19393 bps in 2024, then surged 8875 bps in 2025.
- Over 5 years, Operating Margin stood at 108.84% in 2022, then sank 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 tumbled 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 | Vertiv Holdings | 100.83 Bn | 97.72 Bn | 1.23 Bn | 19.48% |
| 2 | Bloom Energy | 57.56 Bn | 54.89 Bn | 355.57 Mn | 17.11% |
| 3 | Hubbell | 24.89 Bn | 24.50 Bn | 613.00 Mn | 20.36% |
| 4 | nVent Electric | 24.60 Bn | 24.35 Bn | 558.00 Mn | 20.44% |
| 5 | Advanced Energy Industries | 11.11 Bn | 9.69 Bn | 236.10 Mn | 16.57% |
| 6 | Acuity Inc. (De) | 10.38 Bn | 9.97 Bn | 606.40 Mn | 16.14% |
| 7 | Powell Industries | 7.20 Bn | 6.57 Bn | 95.30 Mn | 20.55% |
| 8 | EnerSys | 6.92 Bn | 6.39 Bn | 313.36 Mn | 16.18% |
| 9 | Plug Power | 3.17 Bn | 2.85 Bn | -1.68 Mn | -35.96% |
| 10 | Fuelcell Energy | 1.05 Bn | 675.77 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% |