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.
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 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
| 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% |
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_KEY
import 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();