Fuel Tech (FTEK) Operating Margin (2009 - 2026)
Fuel Tech (FTEK) recorded Operating Margin of -6.03% in Q3 2026, down 6.08 percentage points from 0.05% a year earlier but up 18.10 percentage points from the prior quarter.
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Analysis
Fuel Tech (FTEK) Operating Margin (2009 - 2026) Analysis & Trends
On a TTM basis, Fuel Tech's Operating Margin came in at -17.93% as of Sep 30, 2026, down 0.24 percentage points year-over-year; for FY2025, it was -13.80%, up 4.91 percentage points from FY2024.
- Annual Operating Margin has a five-year change of +5.43 percentage points (FY2020 to FY2025).
- Across earlier years, Operating Margin came in at -18.71% in FY2024 (-8.89 pp), -9.81% in FY2023 (-4.15 pp), -5.67% in FY2022 (+0.47 pp) and -6.14% in FY2021 (+13.09 pp).
- Quarterly Operating Margin has ranged from -40.05% in Q4 2024 to 2.39% in Q3 2022 over the past five years.
- On a year-over-year basis, Operating Margin has declined for three consecutive quarters, with an average year-over-year change of -2.11 percentage points over the last eight quarters.
- Peak year-over-year performance for Operating Margin in the last five years was a gain of 23.38 percentage points in Q4 2021, against a drop of 27.43 percentage points in Q4 2024 at the low end.
- Per Business Quant, the preceding three quarters came in at -24.13% (Q2 2026), -26.25% (Q1 2026) and -19.66% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Ecolab | 85.84 Bn | 78.85 Bn | 2.07 Bn | 17.26% |
| 2 | Veralto | 28.78 Bn | 21.41 Bn | 908.00 Mn | 19.75% |
| 3 | Xylem | 22.22 Bn | 18.19 Bn | 907.00 Mn | 17.49% |
| 4 | Badger Meter | 4.49 Bn | 3.89 Bn | 98.85 Mn | 20.23% |
| 5 | Ceco Environmental | 3.04 Bn | 2.84 Bn | 130.10 Mn | 2.60% |
| 6 | NWPX Infrastructure | 868.49 Mn | 826.57 Mn | 38.19 Mn | 13.55% |
| 7 | Energy Recovery | 373.27 Mn | 35.71 Mn | 4.20 Mn | -87.49% |
| 8 | Cadiz | 280.26 Mn | 245.37 Mn | -24,000.00 | -902.45% |
| 9 | AirJoule Technologies | 174.57 Mn | 54.19 Mn | - | - |
| 10 | Fuel Tech | 42.77 Mn | -41.13 Mn | 3.91 Mn | -6.03% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | -6.03% |
| Jun 30, 2026 | -24.13% |
| Mar 31, 2026 | -26.25% |
| Dec 31, 2025 | -19.66% |
| Sep 30, 2025 | 0.05% |
| Jun 30, 2025 | -23.53% |
| Mar 31, 2025 | -14.92% |
| Dec 31, 2024 | -40.05% |
| Sep 30, 2024 | -2.28% |
| Jun 30, 2024 | -10.15% |
| Mar 31, 2024 | -34.13% |
| Dec 31, 2023 | -12.62% |
| Sep 30, 2023 | 1.66% |
| Jun 30, 2023 | -24.39% |
| Mar 31, 2023 | -9.03% |
| Dec 31, 2022 | -3.56% |
| Sep 30, 2022 | 2.39% |
| Jun 30, 2022 | -7.62% |
| Mar 31, 2022 | -17.78% |
| Dec 31, 2021 | -3.43% |
API Access
Fuel Tech Operating 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=operating-margin&ticker=FTEK&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-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=operating-margin&ticker=FTEK&period=max&api_key=YOUR_API_KEY");
const data = await res.json();