What is the 13F Pro Quality Score for FCEL?

13F Pro ranks FUELCELL ENERGY INC (FCEL) on the 13F Pro Quality Score, a 0–100 composite of 32 fundamental signals including return on invested capital, free cash flow consistency, balance-sheet strength, earnings quality, growth durability, and valuation discipline. The score refreshes after each 10-K and 10-Q filing on SEC EDGAR. View FCEL's current score at https://13fpro.ai/research/FCEL (free sign-up required for the full ranking).

Where does 13F Pro source FCEL data?

All FUELCELL ENERGY INC fundamentals and ownership data come directly from SEC EDGAR. FUELCELL ENERGY INC files with the SEC under CIK 886128. 13F Pro ingests XBRL financial facts from 10-K and 10-Q filings, Form 13F-HR institutional holdings, and Form 4 insider transactions, with no third-party rewrites or estimates.

What sector is FCEL in?

FUELCELL ENERGY INC (FCEL) is classified in the Technology sector. 13F Pro publishes sector-level fund flow analysis and quality leaders at https://13fpro.ai/research/sector/technology.

How often is FCEL research updated on 13F Pro?

FCEL's fundamentals refresh within hours of each new 10-K or 10-Q filing on SEC EDGAR. Institutional ownership updates after each quarterly 13F filing window. Insider transactions update after each Form 4 filing. The 13F Pro Quality Score recalculates after every fundamentals refresh.

FUELCELL ENERGY INC(FCEL)Stock Analysis

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13F Pro Quality Score

24.2/100

Rank #2,590 of 2,879 stocks

View Technology peers →

Rankings refresh quarterly once 80% of peers have filed (~45 days after quarter-end). Next update: ~Aug 14, 2026.

Revenue Growth

69.4/100

Profitability

5.9/100

Balance Sheet

9.5/100

Earnings Quality

30.0/100

Free Cash Flow

7.2/100

Institutional Flow

17.8/100

Revenue Scale

21.1/100

Dilution Risk

21.3/100

FCEL Stock Analysis & AI Quality Score

AI stock analysis and institutional research for FUELCELL ENERGY INC (FCEL), a Technology sector company. 13F Pro's AI-powered ranking engine scores FCEL at 24.2/100 on a 32-signal composite quality model, placing it at rank #2,590 of 2,879 stocks — the bottom half of the AI-ranked universe. Areas of concern include profitability (5.9) and free cash flow (7.2), which score below median versus the broader universe. Shareholder dilution risk is elevated at 21.3/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q2 2026), FUELCELL ENERGY INC reports quarterly revenue of $35.6M, net income of $-77.9M, free cash flow of $-29.0M. Top institutional holders of FCEL by reported 13-F value include Legal & General Group Plc, VANGUARD CAPITAL MANAGEMENT, SUSQUEHANNA INTERNATIONAL GROUP, LLP, based on the most recent SEC filings. FCEL trades on the Nasdaq exchange and files with the SEC under CIK 886128. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate FCEL daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for FUELCELL ENERGY INC directly from SEC EDGAR. FUELCELL ENERGY INC's 13F Pro composite quality score has ranged between 8 and 49 since 2021, currently 24.2 — an improving long-term trajectory across 56 quarterly and live scoring snapshots.

Revenue

Q2 2026

$35.6M

Net Income

Q2 2026

$-77.9M

Free Cash Flow

Q2 2026

$-29.0M

D/E Ratio

Q2 2026

0.21

Revenue & Net Income

Earnings Per Share

Key Financials Over Time

Export Financial Table · Pro+

Revenue

+41.0% YoY

$158.2MFY 2025

FY21 $69.6MFY22 $31.8MFY24 $112.1MFY25 $158.2M

Net Income

-49.1% YoY

$-187.9MFY 2025

FY21 $-101.1MFY22 $-142.7MFY24 $-126.0MFY25 $-187.9M

Operating Income

-21.4% YoY

$-192.3MFY 2025

FY21 $-64.9MFY22 $-44.8MFY24 $-158.5MFY25 $-192.3M

EPS (Diluted)

+5.2% YoY

$-7.42FY 2025

FY21 $-0.01FY22 $-0.01FY24 $-7.83FY25 $-7.42

Total Assets

-1.3% YoY

$932.1MFY 2025

FY21 $875.2MFY22 $939.7MFY24 $944.1MFY25 $932.1M

Total Debt

-8.2% YoY

$135.5MFY 2025

FY21 $97.8MFY22 $95.6MFY24 $147.6MFY25 $135.5M

Op. Cash Flow

+18.1% YoY

$-125.3MFY 2025

FY21 $-70.4MFY22 $-112.2MFY24 $-152.9MFY25 $-125.3M

Metric	FY 2025	FY 2024	FY 2022	FY 2021	FY 2020	FY 2019
Revenue	$158.2M +41.0%	$112.1M +252.7%	$31.8M -54.3%	$69.6M -1.8%	$70.9M +16.7%	$60.8M
Net Income	$-187.9M -49.1%	$-126.0M +11.7%	$-142.7M -41.2%	$-101.1M -13.4%	$-89.1M -14.9%	$-77.6M
Operating Income	$-192.3M -21.4%	$-158.5M -253.4%	$-44.8M +30.9%	$-64.9M -65.7%	$-39.2M +41.5%	$-66.9M
EPS (Diluted)	$-7.42 +5.2%	$-7.83 -86900.0%	$-0.01 +12.6%	$-0.01 +26.4%	$-0.01 +76.9%	$-0.06
Total Assets	$932.1M -1.3%	$944.1M +0.5%	$939.7M +7.4%	$875.2M +67.2%	$523.5M +57.0%	$333.4M
Total Debt	$135.5M -8.2%	$147.6M +54.4%	$95.6M -2.3%	$97.8M -47.6%	$186.7M +45.6%	$128.2M
Operating Cash Flow	$-125.3M +18.1%	$-152.9M -36.3%	$-112.2M -59.2%	$-70.4M -91.5%	$-36.8M -20.3%	$-30.6M

AI Insight: FCEL Financial Trends

FCEL remains unprofitable with volatile quarterly results, though debt has declined 11% from peak and latest operating cash burn is stabilizing.

• Revenue remains small and volatile, ranging $19M–$55M over 8 quarters; Q2 2026 at $36M shows no sustained growth trajectory.

• Total debt decreased from $148M (Q4 2024) to $152M (Q2 2026), with equity swinging $556M–$719M; leverage ratio improved slightly.

• Net losses persist every quarter; Q3 2025 saw a $92M loss, though Q2 2026 loss of $78M remains severe relative to $36M revenue.

⚠ Operating cash flow negative in 6 of 8 quarters; Q2 2026 shows –$27M burn despite marginal revenue, indicating cash consumption rate unabated.

⚠ Q2 2026 net loss ($78M) and operating loss ($78M) match quarterly revenue exactly—profitability path unclear with no margin improvement visible.

AI Insight: FCEL Ratio Trends

FCEL remains deeply unprofitable with negative returns across all profitability metrics; latest quarter shows deteriorating ROE to -43.3% despite modest D/E stability.

• Operating margin improved from -172.9% in Q1 2025 to -51.5% in Q4 2025, though still deeply negative.

• ROA worsened sharply to -31.1% in Q2 2026 versus -9.3% in Q1 2026, reversing recent sequential gains.

• Debt-to-equity ratio remained range-bound between 0.20–0.25 across all periods; no material leverage deterioration.

⚠ Q3 2025 saw catastrophic ROIC collapse to -54.8% and ROE to -65.9%—worst quarter in dataset; drivers unclear.

⚠ Latest quarter (Q2 2026) shows renewed deterioration in ROE and ROA after Q4 2025–Q1 2026 stabilization; trend reversal risk.

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Available Research

13F Pro tracks comprehensive data for FUELCELL ENERGY INC including:

SEC EDGAR filings (10-K, 10-Q, 8-K)

XBRL financial facts (revenue, EPS, margins)

Insider transactions (Form 4)

Institutional 13F holdings

Quality rankings (32 signals)

AI analyst debates & daily meetings

Historical financial trends

Peer comparison & sector analysis

Top Institutional Holders of FCEL

Legal & General Group Plc
$18.7M2,865,746 sh
VANGUARD CAPITAL MANAGEMENT LLC
$14.2M2,181,764 sh
SUSQUEHANNA INTERNATIONAL GROUP, LLP
$11.2M1,720,168 sh
TWO SIGMA INVESTMENTS, LP
$8.4M1,281,216 sh
Invesco Ltd.
$7.9M1,215,772 sh
CITADEL ADVISORS LLC
$7.0M1,068,239 sh
BlackRock, Inc.
$6.8M1,035,735 sh
SUSQUEHANNA INTERNATIONAL GROUP, LLP
$6.6M1,017,900 sh
CenterBook Partners LP
$6.4M986,037 sh
RENAISSANCE TECHNOLOGIES LLC
$5.8M886,600 sh

Fund	Value	Shares
Legal & General Group Plc	$18.7M	2,865,746
VANGUARD CAPITAL MANAGEMENT LLC	$14.2M	2,181,764
SUSQUEHANNA INTERNATIONAL GROUP, LLP	$11.2M	1,720,168
TWO SIGMA INVESTMENTS, LP	$8.4M	1,281,216
Invesco Ltd.	$7.9M	1,215,772
CITADEL ADVISORS LLC	$7.0M	1,068,239
BlackRock, Inc.	$6.8M	1,035,735
SUSQUEHANNA INTERNATIONAL GROUP, LLP	$6.6M	1,017,900
CenterBook Partners LP	$6.4M	986,037
RENAISSANCE TECHNOLOGIES LLC	$5.8M	886,600

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Is FCEL a good stock to buy?

13F Pro's AI-powered analysis of FUELCELL ENERGY INC (FCEL) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Technology sector (listed on Nasdaq). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for FCEL are available on the FCEL stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing.

Which hedge funds own FCEL?

Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling FCEL. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of FUELCELL ENERGY INC's investment landscape.