FuelCell Energy, Inc. (NASDAQ: FCEL) specializes in the design, manufacture, and operation of fuel cell power plants for clean energy generation. Competing with firms like Bloom Energy and Plug Power, FuelCell Energy stands out in the clean energy sector.
On December 18, 2025, FuelCell Energy disclosed its earnings, revealing an EPS of -$0.85, which was better than the anticipated EPS of -$0.97. The company also reported a revenue of $55 million, exceeding the forecasted revenue of approximately $47.9 million. This positive financial performance led to a significant surge in its stock price, with shares rising over 30% on the same day.
FuelCell Energy's financial results for the fourth quarter of 2025 showed a 12% increase in revenue from the previous year, reaching $55 million. Despite a gross loss of $6.6 million, this was a 39% improvement from the prior year's $10.9 million loss. The company's backlog also increased to $1.19 billion, reflecting strong demand for its technology as it moves into 2026.
The company's financial health showed improvements, with an EBITDA of negative $18.5 million, a notable improvement from the negative $32.3 million reported in the same quarter last year. The adjusted diluted earnings per share loss narrowed to negative $0.83, compared to negative $1.85 in Q4 2024. These results have been well-received by investors, driving the stock's impressive recovery.
FuelCell Energy's financial metrics indicate some challenges, with a price-to-earnings (P/E) ratio of approximately -1.84, reflecting its current lack of profitability. However, the company has a low debt-to-equity ratio of 0.05, indicating a low level of debt relative to equity. Additionally, a strong current ratio of 5.37 suggests it has a solid ability to cover its short-term liabilities with its short-term assets.
