Fuel Tech (FTEK) Gross Margin (2009 - 2026)
Fuel Tech (FTEK) recorded Gross Margin of 45.01% in Q3 2026, down 3.87 percentage points from 48.88% a year earlier but up 3.76 percentage points from the prior quarter.
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Analysis
Fuel Tech (FTEK) Gross Margin (2009 - 2026) Analysis & Trends
On a TTM basis, Fuel Tech's Gross Margin came in at 43.73% as of Sep 30, 2026, down 2.33 percentage points year-over-year; for FY2025, it came in at 46.42%, up 4.15 percentage points from FY2024.
- Annual Gross Margin has a five-year change of -0.76 percentage points (FY2020 to FY2025).
- Across earlier years, Gross Margin came in at 42.27% in FY2024 (-0.77 pp), 43.04% in FY2023 (-0.18 pp), 43.22% in FY2022 (-5.83 pp) and 49.04% in FY2021 (+1.87 pp).
- Quarterly Gross Margin has ranged from 36.55% in Q2 2023 to 51.11% in Q4 2023 over the past five years.
- On a year-over-year basis, Gross Margin has declined for three consecutive quarters, with an average year-over-year change of -0.37 percentage points over the last eight quarters.
- Peak year-over-year performance for Gross Margin in the last five years was a gain of 8.34 percentage points in Q4 2023, against a drop of 8.81 percentage points in Q4 2024 at the low end.
- Per Business Quant, the preceding three quarters came in at 41.25% (Q2 2026), 43.49% (Q1 2026) and 44.63% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Ecolab | 85.84 Bn | 78.85 Bn | 2.07 Bn | 44.08% |
| 2 | Veralto | 28.78 Bn | 21.41 Bn | 908.00 Mn | 60.17% |
| 3 | Xylem | 22.22 Bn | 18.19 Bn | 907.00 Mn | 41.21% |
| 4 | Badger Meter | 4.49 Bn | 3.89 Bn | 98.85 Mn | 41.90% |
| 5 | Ceco Environmental | 3.04 Bn | 2.84 Bn | 130.10 Mn | 32.17% |
| 6 | NWPX Infrastructure | 868.49 Mn | 826.57 Mn | 38.19 Mn | 21.29% |
| 7 | Energy Recovery | 373.27 Mn | 35.71 Mn | 4.20 Mn | 37.49% |
| 8 | Cadiz | 280.26 Mn | 245.37 Mn | -24,000.00 | -2.45% |
| 9 | AirJoule Technologies | 174.57 Mn | 54.19 Mn | - | - |
| 10 | Fuel Tech | 42.77 Mn | -41.13 Mn | 3.91 Mn | 45.01% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 45.01% |
| Jun 30, 2026 | 41.25% |
| Mar 31, 2026 | 43.49% |
| Dec 31, 2025 | 44.63% |
| Sep 30, 2025 | 48.88% |
| Jun 30, 2025 | 45.50% |
| Mar 31, 2025 | 46.36% |
| Dec 31, 2024 | 42.31% |
| Sep 30, 2024 | 43.40% |
| Jun 30, 2024 | 41.92% |
| Mar 31, 2024 | 40.93% |
| Dec 31, 2023 | 51.11% |
| Sep 30, 2023 | 45.22% |
| Jun 30, 2023 | 36.55% |
| Mar 31, 2023 | 38.49% |
| Dec 31, 2022 | 42.77% |
| Sep 30, 2022 | 45.80% |
| Jun 30, 2022 | 42.05% |
| Mar 31, 2022 | 41.37% |
| Dec 31, 2021 | 50.19% |
API Access
Fuel Tech Gross Margin 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=gross-margin&ticker=FTEK&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-margin", "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=gross-margin&ticker=FTEK&period=max&api_key=YOUR_API_KEY");
const data = await res.json();