FCEL · XBRL financial data
Fuelcell Energy financial statements, every fiscal year
The same tables from 6 filings, lined up. Matched by XBRL tag: renamed lines keep their history.
How these numbers work
- Every number comes from the company's XBRL financial data filed with the SEC, and each one links to its filing.
- Lines are matched by XBRL tag, so a line renamed between filings keeps its history.
- * marks a quarter worked out from the filing totals: the 10-K year minus the first three quarters, or a year-to-date total minus the earlier one. Fourth-quarter earnings per share is fourth-quarter net income over the fourth-quarter weighted shares.
- 0 means a filing states zero; a dash (—) means no filing states that number.
- “year only” means the 10-K gives the full year but not the quarters needed to work out the fourth. A worked-out quarter of revenue, cost of revenue or operating cash flow more than twice the company's largest quarter of the two years before is shown this way too.
- Gross profit is shown as the company reports it; a worked-out quarter must equal revenue less cost of revenue for that quarter, or it is a dash.
- Operating income can be above gross profit when the company books other operating income between the two, shown on its own line.
- Shares outstanding come from each filing's cover page, as of the date printed there.
- Quarters are fiscal: Q2 FY27 is the second quarter of the company's fiscal 2027.
Income statement
CSVFiscal years (FCEL's year ends in late October)
| In millions of dollars | Oct 31, 2020 | Oct 31, 2021 | Oct 31, 2022 | Oct 31, 2023 | †Oct 31, 2024 | †Oct 31, 2025 |
|---|---|---|---|---|---|---|
| Revenue from contracts with customers | 71 | 70 | 130 | 123 | 112 | 158 |
| Cost of goods and services sold | 79 | 85 | 160 | 134 | 148 | 185 |
| Gross profit | (8) | — | — | — | — | — |
| Research and development | 5 | 11 | 35 | 61 | 55 | 34 |
| Selling, general and administrative | 27 | 38 | 80 | 65 | 65 | 61 |
| Total operating expenses | 31 | 49 | 114 | 126 | 123 | 166 |
| Operating income (loss) | (39) | (65) | (144) | (136) | (158) | (192) |
| Interest income | — | 0 | 3 | 16 | 14 | 8 |
| Interest expense | 15 | 7 | 6 | 7 | 10 | 10 |
| Other income (expense) | 1 | (1) | 4 | 5 | (2) | 3 |
| Income tax expense (benefit) | 0 | 0 | 1 | 1 | 0 | 0 |
| Net income (loss) | (89) | (101) | (143) | (108) | (126) | (188) |
| Earnings per share, basic‡ USD per share | (12.73) | (9.39) | (11.52) | (7.88) | (237.27) | (7.42) |
| Earnings per share, diluted‡ USD per share | (12.73) | (9.39) | (11.52) | (7.88) | (237.27) | (7.42) |
| Weighted average shares, basic‡ millions of shares | 7 | 11 | 13 | 14 | 1 | 26 |
| Weighted average shares, diluted‡ millions of shares | 7 | 11 | 13 | 14 | 1 | 26 |
- ‡ Per-share figures and share counts are adjusted for the 1-for-30.3030303030303 stock split (November 2024); filings made before it reported them unadjusted.
- † Share count changed about 1/22 in the period ending 2024-10-31, likely a stock split with no split ratio in the XBRL data; figures before that column are not adjusted.
- † Share count changed about 71x in the period ending 2025-10-31, likely a stock split with no split ratio in the XBRL data; figures before that column are not adjusted.
Balance sheet
CSVFiscal years (FCEL's year ends in late October)
| In millions of dollars | Oct 31, 2020 | Oct 31, 2021 | Oct 31, 2022 | Oct 31, 2023 | †Oct 31, 2024 | †Oct 31, 2025 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 150 | 432 | 458 | 250 | 148 | 278 |
| Short-term investments | — | — | — | 104 | 109 | — |
| Accounts receivable | 10 | 15 | 5 | 4 | 12 | 4 |
| Inventory | 51 | 67 | 91 | 84 | 114 | 86 |
| Prepaid and other current assets | 4 | 5 | — | — | — | — |
| Total current assets | 234 | 543 | 580 | 476 | 444 | 450 |
| Property and equipment, net | 36 | 39 | 58 | 90 | 131 | 96 |
| Right-of-use asset | 10 | 8 | 7 | 8 | 8 | 11 |
| Goodwill | 4 | 4 | 4 | 4 | 4 | — |
| Total assets | 524 | 875 | 940 | 956 | 944 | 932 |
| Accounts payable | 10 | 19 | 28 | 27 | 23 | 17 |
| Accrued liabilities | 16 | 16 | 27 | 26 | 30 | 31 |
| Total current liabilities | 59 | 53 | 86 | 66 | 74 | 68 |
| Lease liability, non-current | 10 | 8 | 8 | 9 | 9 | 12 |
| Total liabilities | 269 | 170 | 185 | 195 | 217 | 201 |
| Accumulated deficit | (1,164) | (1,265) | (1,408) | (1,516) | (1,642) | (1,829) |
| Total stockholders' equity | 195 | 642 | 684 | 682 | 657 | 662 |
| Total liabilities and equity | 524 | 875 | 940 | 956 | 944 | 932 |
| Common shares outstanding (cover page)‡ millions of shares | 11 | 12 | 13 | 15 | 1 | 48 |
- ‡ Per-share figures and share counts are adjusted for the 1-for-30.3030303030303 stock split (November 2024); filings made before it reported them unadjusted.
- † Share count changed about 1/22 in the period ending 2024-10-31, likely a stock split with no split ratio in the XBRL data; figures before that column are not adjusted.
- † Share count changed about 71x in the period ending 2025-10-31, likely a stock split with no split ratio in the XBRL data; figures before that column are not adjusted.
Cash flows
CSVFiscal years (FCEL's year ends in late October)
| In millions of dollars | Oct 31, 2020 | Oct 31, 2021 | Oct 31, 2022 | Oct 31, 2023 | †Oct 31, 2024 | †Oct 31, 2025 |
|---|---|---|---|---|---|---|
| Net income (loss) | (89) | (101) | (143) | (108) | (126) | (188) |
| Stock-based compensation | 2 | 4 | 7 | 12 | 12 | 11 |
| Depreciation and amortization | 19 | 20 | 21 | 25 | 36 | 40 |
| Net cash from operating activities | (37) | (70) | (112) | (140) | (153) | (125) |
| Net cash from investing activities | (33) | (73) | (47) | (192) | (60) | 89 |
| Repayments of long-term debt | 30 | 99 | 10 | 48 | 12 | 14 |
| Net cash from financing activities | 222 | 412 | 181 | 151 | 122 | 169 |
| Net change in cash | 152 | 268 | 21 | (181) | (91) | 133 |
- † Share count changed about 1/22 in the period ending 2024-10-31, likely a stock split with no split ratio in the XBRL data; figures before that column are not adjusted.
- † Share count changed about 71x in the period ending 2025-10-31, likely a stock split with no split ratio in the XBRL data; figures before that column are not adjusted.
Compare with peers
SIC 3620 and related industry codes, similar size. Each row is the latest quarter reported.
How peers are chosen
- SIC 3620 and related industry codes with public float (or, where float is missing, quarterly revenue) between 0.2x and 5x the company's.
- Each row is the latest quarter the company has reported, named in the Quarter column; when that filing is a 10-K, it is the fourth quarter, never the full year.
- Runway shows only for companies burning cash with under $10B of public float.
- * marks a quarter worked out from the filing totals: for a 10-Q, the year-to-date total less the earlier one.
- A cell reading “not reported” means the filings give no figure for that quarter alone.
| Company | Cash ($M) | Revenue, quarter ($M) | Operating cash flow, quarter ($M) | Shares outstanding | Runway | Quarter |
|---|---|---|---|---|---|---|
| Fuelcell Energy | 658 | 33 | (12)* | 80.0M | 25.6 quarters | 10-QJul 31, 2026 |
| ERock | 627 | 40 | not reported | not reported | — | 10-QJun 30, 2026 |
| Net Power | 118 | not reported | (9.6)* | not reported | 32.0 quarters | 10-QJun 30, 2026 |
| Newbury Street II Acquisition | 0.4 | not reported | (0.1)* | not reported | 3.9 quarters | 10-QJun 30, 2026 |
| Graftech International | 134 | 140 | (8.4)* | 26.9M | — | 10-QSep 30, 2026 |
| 374Water | 1.8 | 2.3 | 0.2* | 17.7M | — | 10-QJun 30, 2026 |
Not investment advice. Not affiliated with the U.S. SEC.