FuelCell Energy
Financial ratios & Valuation

Forward Multiples (2025 – 2028)

2025202620272028
Price/Earnings ratio
-17.17-27.17-67.16-201.5
Price/Sales ratio
7.585.923.472.62
Earnings per Share (EPS)
$-0.23$-0.14$-0.06$-0.02

Historical Multiples (2015 – 2024)

2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 TTM Median
Valuation Ratios
Price/Earnings ratio
-265.61-58.68-60.83-44.33-5.07-149.45-947.31-243.57-127.60-1.31K-8.23-8.23
Price/Sales ratio
47.8127.6234.2723.466.48187.911.37K274.83111.231.51K7.326.48
Price/Book Value ratio
50.2517.1617.3611.862.9052.34136.2748.1818.48N/A1.4852.34
Price/Cash Flow ratio
-176.13-64.18-45.63128.57-12.88-362.07-1.35K-319.71-97.86N/A-8.44-12.88
Price/Free Cash Flow ratio
-152.29-55.05-38.94333.42-6.11-193.88-666.13-225.80-59.00N/A-6.27-6.27
Price/Earnings Growth ratio
7.45-1.371.640.940.062.0837.89-9.134.0413.590.340.06
Dividend Yield
0.05%0.13%0.12%0.19%0.46%0.04%0.00%0.00%0.02%N/AN/A0.04%
Profitability Indicator Ratios
Gross Profit Margin
7.83%-0.32%2.85%3.45%-35.00%-10.90%-22.47%-22.66%-8.53%-32.03%-15.79%-35.00%
Operating Profit Margin
-17.71%-42.81%-46.97%-49.90%-110.16%-55.26%-93.27%-110.14%-110.28%-141.34%-89.37%-110.16%
Pretax Profit Margin
-18.03%-46.82%-56.29%-56.29%-127.50%-125.66%-145.17%-112.20%-87.09%-139.79%-88.98%-127.50%
Net Profit Margin
-18.00%-47.07%-56.34%-52.92%-127.67%-125.73%-145.18%-112.83%-87.17%-115.22%-88.92%-127.67%
Effective Tax Rate
-0.93%-1.02%-0.08%5.98%-0.14%-0.05%-0.00%-0.55%-0.54%0.01%-1.15%-0.05%
Return on Assets
-10.59%-14.89%-14.04%-13.90%-23.26%-17.02%-11.54%-15.66%-11.25%N/A-13.52%-23.26%
Return On Equity
-18.92%-29.24%-28.54%-26.75%-57.20%-35.02%-14.38%-19.78%-14.49%N/A-16.57%-57.20%
Return on Capital Employed
-14.27%-15.99%-15.72%-15.92%-24.72%-8.42%-7.89%-16.83%-15.29%N/A-14.68%-24.72%
Liquidity Ratios
Current Ratio
2.723.872.072.161.343.97N/AN/AN/AN/A7.941.34
Quick Ratio
1.842.461.311.270.473.109.025.705.94N/A6.170.47
Cash ratio
0.781.610.500.650.152.548.195.333.79N/A4.760.15
Days of Sales Outstanding
136.0682.92261.4394.0265.9490.66124.0744.4859.47N/A45.5090.66
Days of Inventory outstanding
159.68248.03292.59226.47242.59236.70287.26207.30230.17N/A234.91236.70
Operating Cycle
295.74330.96554.02320.50308.54327.37411.34251.79289.64N/A246.13327.37
Days of Payables Outstanding
38.2362.08167.3795.5175.3944.4782.5164.2972.27N/A57.0944.47
Cash Conversion Cycle
257.50268.87386.64224.98233.14282.90328.82187.49217.37N/A46.33282.90
Debt Ratios
Debt Ratio
0.070.290.270.300.380.330.100.080.13N/A0.240.33
Debt Equity Ratio
0.130.570.560.580.940.670.120.110.17N/A0.320.67
Long-term Debt to Capitalization
0.070.350.290.320.430.370.090.080.13N/A0.120.37
Total Debt to Capitalization
0.110.360.360.370.480.400.110.100.14N/A0.130.40
Interest Coverage Ratio
-9.76-9.34-4.75-4.92-6.30-2.56N/AN/AN/AN/A-18.73-2.56
Cash Flow to Debt Ratio
-2.17-0.46-0.670.15-0.23-0.21-0.79-1.35-1.07N/A-1.12-0.21
Company Equity Multiplier
1.781.962.031.922.452.051.241.261.28N/A1.332.05
Cash Flow Ratios
Operating Cash Flow / Sales Ratio
-0.27-0.43-0.750.18-0.50-0.51-1.01-0.85-1.13N/A-0.86-0.51
Free Cash Flow / Operating Cash Flow Ratio
1.151.161.170.382.101.862.031.411.65N/A1.341.86
Cash Flow Coverage Ratio
-2.17-0.46-0.670.15-0.23-0.21-0.79-1.35-1.07N/A-1.12-0.21
Short Term Coverage Ratio
-6.01-8.83-2.540.92-1.39-1.64-6.33-8.09-13.14N/A-8.53-1.64
Dividend Payout Ratio
-14.31%-8.18%-7.71%-8.82%-2.37%-7.26%-3.16%-2.17%-2.97%N/AN/A-2.37%