FuelCell Energy (FCEL) Financial Ratios

For fiscal 2025 (fiscal year ended Oct 31, 2025), FuelCell Energy had return on equity of -26.2% (down from -21.1%), debt-to-equity of 0.18 (down from 0.19), a current ratio of 6.63 (up from 6.01) and return on assets of -8.1% (up from -10.2%). A current ratio of 6.63 means current assets exceed current liabilities.

FuelCell Energy Financial Ratios Analysis

Valuation, profitability, leverage, and liquidity ratios

Income Statement Balance Sheet Cash Flow Ratios

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Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period ending	Oct 2025	Oct 2024	Oct 2023	Oct 2022	Oct 2021
Valuation Ratios
P/S Ratio	1.83	1.71	3.98	9.70	42.10
P/B Ratio	0.40	0.26	0.65	1.68	4.15
Price/Tangible Book	0.44	0.30	0.74	1.91	4.73
Enterprise Value Ratios
EV/Revenue	2.01	1.26	2.38	7.44	37.52
Profitability & Returns
Return on Equity (ROE)	-26.24%	-21.08%	-14.27%	-20.17%	-21.05%
Return on Assets (ROA)	-8.08%	-10.18%	-8.82%	-9.78%	-5.35%
Return on Capital Employed (ROCE)	-14.00%	-17.80%	-15.00%	-16.60%	-7.30%
Leverage & Solvency Ratios
Debt/Equity	0.18	0.19	0.17	0.12	0.14
Liquidity Ratios
Current Ratio	6.63	6.01	7.23	6.76	10.30
Quick Ratio	4.88	4.14	5.67	5.52	8.64
Efficiency Ratios
Asset Turnover	0.17	0.12	0.13	0.14	0.10
Inventory Turnover	1.85	1.48	1.50	2.00	1.34
Yield & Distribution Ratios
Earnings Yield	-65.01%	-65.88%	-21.90%	-11.28%	-3.45%
FCF Yield	-51.14%	-111.08%	-47.36%	-12.55%	-4.91%
Buyback Yield	-55.97%	-17.97%	-9.55%	-14.46%	-50.81%

Source: Company financial statements from annual and quarterly filings. Data as of Jul 31, 2026. Data sources and methodology

Frequently Asked Questions About FuelCell Energy Financial Ratios

What is FuelCell Energy's return on equity?

FuelCell Energy's return on equity (ROE) was -26.2% for fiscal 2025 (period ended Oct 31, 2025). It was -21.1% a year earlier.

What is FuelCell Energy's debt-to-equity ratio?

FuelCell Energy's debt-to-equity ratio was 0.18 for fiscal 2025 (period ended Oct 31, 2025). It was 0.19 a year earlier.

What is return on equity (ROE)?

Return on equity is net income divided by shareholders' equity. It measures how much profit a company generates from the capital its shareholders have invested. Full definition