Fuelcell Energy (FCEL) Return on Equity [ROE] (2012 - 2026)
Fuelcell Energy (FCEL) recorded Return on Equity [ROE] of -20.84% in fiscal Q3 2026 (quarter ended Jul 31, 2026), up 13.22 percentage points from -34.05% a year earlier and up 10.56 percentage points from the prior quarter.
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Analysis
Fuelcell Energy (FCEL) Return on Equity [ROE] (2012 - 2026) Analysis & Trends
For FY2025 (ended Oct 31, 2025), Fuelcell Energy reported Return on Equity [ROE] of -28.59%, down 5.67 percentage points from FY2024.
- Annual Return on Equity [ROE] has a five-year change of +37.35 percentage points (FY2020 to FY2025).
- Across earlier fiscal years, Return on Equity [ROE] came in at -22.92% in FY2024 (-7.39 pp), -15.53% in FY2023 (+6.55 pp), -22.07% in FY2022 (+2.07 pp) and -24.14% in FY2021 (+41.80 pp).
- The fiscal Q3 2026 figure is the highest quarterly Return on Equity [ROE] since fiscal Q2 2024.
- On a year-over-year basis, Return on Equity [ROE] rose in 1 of the last eight quarters, with an average year-over-year change of -4.20 percentage points.
- Peak year-over-year performance for Return on Equity [ROE] in the last five years was a gain of 45.83 percentage points in fiscal Q4 2021, against a drop of 12.12 percentage points in fiscal Q3 2025 at the low end.
- Per Business Quant, the preceding three fiscal quarters came in at -31.40% (Q2 2026), -26.91% (Q1 2026) and -30.95% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROE (Qtr) |
|---|---|---|---|---|---|
| 1 | GE Vernova | 243.42 Bn | 203.34 Bn | 2.36 Bn | 67.58% |
| 2 | Bloom Energy | 64.86 Bn | 56.65 Bn | 355.57 Mn | 19.39% |
| 3 | First Solar | 18.49 Bn | 9.44 Bn | 605.00 Mn | 17.29% |
| 4 | BWX Technologies | 12.47 Bn | 10.77 Bn | 202.31 Mn | 27.24% |
| 5 | Nextpower | 12.04 Bn | 7.93 Bn | 335.85 Mn | 24.29% |
| 6 | Generac Holdings | 11.40 Bn | 10.23 Bn | 521.81 Mn | 9.34% |
| 7 | EnerSys | 6.16 Bn | 4.36 Bn | 313.36 Mn | 18.16% |
| 8 | Enphase Energy | 4.04 Bn | -817.10 Mn | 175.01 Mn | 11.73% |
| 9 | Mirion Technologies | 3.66 Bn | 1.50 Bn | 133.10 Mn | 1.36% |
| 10 | Fuelcell Energy | 903.66 Mn | -717.54 Mn | -24.50 Mn | -20.84% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jul 31, 2026 | -20.84% |
| Apr 30, 2026 | -31.40% |
| Jan 31, 2026 | -26.91% |
| Oct 31, 2025 | -30.95% |
| Jul 31, 2025 | -34.05% |
| Apr 30, 2025 | -22.92% |
| Jan 31, 2025 | -22.05% |
| Oct 31, 2024 | -23.18% |
| Jul 31, 2024 | -21.93% |
| Apr 30, 2024 | -20.25% |
| Jan 31, 2024 | -19.00% |
| Oct 31, 2023 | -15.34% |
| Jul 31, 2023 | -17.81% |
| Apr 30, 2023 | -19.07% |
| Jan 31, 2023 | -17.88% |
| Oct 31, 2022 | -21.21% |
| Jul 31, 2022 | -18.56% |
| Apr 30, 2022 | -17.37% |
| Jan 31, 2022 | -16.33% |
| Oct 31, 2021 | -15.44% |
API Access
Fuelcell Energy Return on Equity [ROE] 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=return-on-equity-%5Broe%5D&ticker=FCEL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-equity-[roe]", "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=return-on-equity-%5Broe%5D&ticker=FCEL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();