Fuel Tech (FTEK) Cost of Revenue (2009 - 2026)
Fuel Tech's Cost of Revenue came in at $4.77 million for Q3 2026, up 24.6% from $3.83 million a year earlier and up 25.2% from the prior quarter.
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Analysis
Fuel Tech (FTEK) Cost of Revenue (2009 - 2026) Analysis & Trends
Over the trailing twelve months to Sep 30, 2026, Fuel Tech reported Cost of Revenue of $16.03 million, up 20.3% year-over-year; for FY2025, it was $14.29 million, down 1.5% from FY2024.
- Cost of Revenue carries a five-year compound annual growth rate of 3.7% (FY2020 to FY2025).
- Going back by year, Cost of Revenue was $14.51 million in FY2024 (-5.9%), $15.43 million in FY2023 (+0.8%), $15.3 million in FY2022 (+23.7%) and $12.36 million in FY2021 (+3.8%).
- The Q3 2026 figure represents the highest quarterly Cost of Revenue since Q4 2019.
- Year-over-year, Cost of Revenue has increased for four consecutive quarters, with growth averaging 7.2% over the last eight quarters.
- The fastest year-over-year change in Cost of Revenue over five years came in Q2 2022 (growth of 40.0%), and the weakest in Q1 2024 (a decline of 34.7%).
- Business Quant data shows FTEK's Cost of Revenue at $3.81 million (Q2 2026), $3.44 million (Q1 2026) and $4.01 million (Q4 2025) in the three quarters before Q3 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Ecolab | 85.84 Bn | 78.85 Bn | 2.07 Bn | 2.63 Bn |
| 2 | Veralto | 28.78 Bn | 21.41 Bn | 908.00 Mn | 601.00 Mn |
| 3 | Xylem | 22.22 Bn | 18.19 Bn | 907.00 Mn | 1.29 Bn |
| 4 | Badger Meter | 4.49 Bn | 3.89 Bn | 98.85 Mn | 137.09 Mn |
| 5 | Ceco Environmental | 3.04 Bn | 2.84 Bn | 130.10 Mn | 274.33 Mn |
| 6 | NWPX Infrastructure | 868.49 Mn | 826.57 Mn | 38.19 Mn | 141.20 Mn |
| 7 | Energy Recovery | 373.27 Mn | 35.71 Mn | 4.20 Mn | 7.00 Mn |
| 8 | Cadiz | 280.26 Mn | 245.37 Mn | -24,000.00 | 1.00 Mn |
| 9 | AirJoule Technologies | 174.57 Mn | 54.19 Mn | - | - |
| 10 | Fuel Tech | 42.77 Mn | -41.13 Mn | 3.91 Mn | 4.77 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 4.77 Mn |
| Jun 30, 2026 | 3.81 Mn |
| Mar 31, 2026 | 3.44 Mn |
| Dec 31, 2025 | 4.01 Mn |
| Sep 30, 2025 | 3.83 Mn |
| Jun 30, 2025 | 3.03 Mn |
| Mar 31, 2025 | 3.42 Mn |
| Dec 31, 2024 | 3.05 Mn |
| Sep 30, 2024 | 4.44 Mn |
| Jun 30, 2024 | 4.09 Mn |
| Mar 31, 2024 | 2.93 Mn |
| Dec 31, 2023 | 3.10 Mn |
| Sep 30, 2023 | 4.38 Mn |
| Jun 30, 2023 | 3.47 Mn |
| Mar 31, 2023 | 4.48 Mn |
| Dec 31, 2022 | 4.02 Mn |
| Sep 30, 2022 | 4.35 Mn |
| Jun 30, 2022 | 3.69 Mn |
| Mar 31, 2022 | 3.25 Mn |
| Dec 31, 2021 | 3.21 Mn |
API Access
Fuel Tech Cost of Revenue 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=cost-of-revenue&ticker=FTEK&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "cost-of-revenue", "ticker": "FTEK", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=FTEK&period=max&api_key=YOUR_API_KEY");
const data = await res.json();