FCEL
Fuelcell Energy margins
- Stocks
- Industrials
- NASDAQ: FCEL
- Margins
Fuelcell Energy shows its gross margin is negative at -32.4%, its operating margin is negative at -116.3%, its EBITDA margin is negative at -79%, and its net margin is negative at -113.6%, with a gross margin of -32.4%, an operating margin of -116.3%, an EBITDA margin of -79%, and a net margin of -113.6%. Margin expansion was strongest in EBITDA margin, which gained by 18.3 percentage points. Gross margin had the strongest contraction, dropping by 12.3 percentage points.
FCEL margin history
Over the last 3 years, Fuelcell Energy recorded average margins of -23.7% gross, -135.63% operating, -78.11% EBITDA, and -115.97% net. Fuelcell Energy's current performance shows that operating and net margins are above their three-year averages and gross and EBITDA margins are below their three-year averages.
FCEL margin expansion
The largest positive change was in EBITDA margin, up 18.3 percentage points. Operating margin also expanded by 18.2 percentage points and Net margin also expanded by 17.2 percentage points, while gross margin contracted by 12.3 percentage points.
FCEL Gross margin
Fuelcell Energy's gross margin averaged -23.7% over the last 3 years. The latest gross margin for Fuelcell Energy is -32.4%, 8.7 percentage points below its three-year average. Over the last 3 years, Fuelcell Energy's gross margin peaked at -8.5% in Oct 2023 and reached a low of -32.7% in Apr 2024.
FCEL Operating margin
Across the last 3 years, Fuelcell Energy's operating margin averaged -135.63%. The current operating margin stands at -116.3%, 19.3 percentage points above its three-year average. Operating margin was highest at -109.5% in Jan 2026 and lowest at -185.6% in Apr 2024.
FCEL EBITDA margin
Over the last 3 years, Fuelcell Energy's EBITDA margin averaged -78.11%. At present, Fuelcell Energy's current EBITDA margin is -79%, which is 0.9 percentage points below its three-year average. During this period, EBITDA margin reached a high of -59.1% in Oct 2023 and a low of -100.6% in Apr 2026.
FCEL Net margin
Fuelcell Energy's net margin averaged -115.97% during the last 3 years. At present, Fuelcell Energy's current net margin is -113.6%, which is 2.4 percentage points above its three-year average. Over the last 3 years, Fuelcell Energy's net margin peaked at -87.2% in Oct 2023 and reached a low of -134.8% in Jul 2024.
FCEL margin group comparison
With a gross margin of -32.4%, FCEL stands lower than the Industrials sector, the industry and its peers average. Looking at the Industrials sector average of 32.7%, Fuelcell Energy's gross margin is 199% lower.
FCEL margin peer comparison
Frequently asked questions
What is Fuelcell Energy's gross margin?
For the period ending Jul 31, 2026, FCEL recorded a gross margin of -32.4%.
What is Fuelcell Energy's operating margin?
As of Jul 31, 2026, FCEL has a negative operating margin of -116.3%.
What is Fuelcell Energy's EBITDA margin?
The current EBITDA margin for FCEL is -79% as of Jul 31, 2026.
What is Fuelcell Energy's net margin?
As of Jul 31, 2026, FCEL has a net margin of -113.6%.
What are the average margins of FCEL?
The three-year average margins for FCEL were -23.7% gross, -135.6% operating, -78.1% EBITDA, and -116.0% net.
What are the highest historical margins of FCEL?
Over the last 5 years, Fuelcell Energy's highest margins were -8.5% gross in Oct 2023, -81.8% operating in Apr 2023, -59.1% EBITDA in Oct 2023, and -79.1% net in Apr 2023.
What are the lowest historical margins of FCEL?
Across the 5-year period, FCEL posted its lowest margins at -32.7% gross in Apr 2024, -185.6% operating in Apr 2024, -103.9% EBITDA in Oct 2021, and -145.2% net in Oct 2021.