FuelCell Energy, Inc. (FCEL)

FuelCell Energy Balance Sheet

Financials in millions USD. Fiscal year is November - October.

Assets

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Apr 30, 2026	Oct 31, 2025	Oct 31, 2024	Oct 31, 2023	Oct 31, 2022	Oct 31, 2021
Cash & Equivalents	373.17	278.1	148.13	249.95	458.06	432.21
Short-Term Investments	-	-	109.12	103.76	-	-
Cash & Short-Term Investments	373.17	278.1	257.26	353.71	458.06	432.21
Cash Growth	110.87%	8.10%	-27.27%	-22.78%	5.98%	188.40%
Accounts Receivable	51.34	53.01	48.6	20.11	15.9	23.65
Receivables	51.34	53.01	48.6	20.11	15.9	23.65
Inventory	88.45	86.2	113.7	84.46	90.91	67.07
Restricted Cash	16.58	16.6	12.16	5.16	4.42	11.27
Other Current Assets	14.4	15.91	12.74	12.88	10.99	9.18
Total Current Assets	543.93	449.81	444.46	476.31	580.28	543.39
Property, Plant & Equipment	106.37	107.67	138.81	98.02	65.33	47.53
Goodwill	-	-	4.08	4.08	4.08	4.08
Other Intangible Assets	3.24	3.89	14.78	16.08	17.37	18.67
Long-Term Accounts Receivable	109.9	82.1	28.3	25.8	9.7	11.6
Other Long-Term Assets	239.94	288.68	313.7	335.24	262.96	249.99
Total Assets	1,003	932.15	944.12	955.52	939.72	875.25

Liabilities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Apr 30, 2026	Oct 31, 2025	Oct 31, 2024	Oct 31, 2023	Oct 31, 2022	Oct 31, 2021
Accounts Payable	16.46	17.01	22.59	26.52	28.2	19.27
Accrued Expenses	22.56	28.8	27.85	22.36	27.42	16.03
Current Portion of Long-Term Debt	15.95	14.45	15.92	10.07	13.2	10.09
Current Portion of Leases	2.4	2.33	0.81	0.6	0.65	1.03
Current Unearned Revenue	4.36	2.73	4.23	2.41	16.34	6.29
Other Current Liabilities	1.57	2.52	2.52	3.96	-	0.07
Total Current Liabilities	63.3	67.84	73.9	65.9	85.8	52.77
Long-Term Debt	109.91	84.99	96.93	90.57	12.5	21.03
Long-Term Leases	30.64	30.76	27.71	27.82	64.26	64.69
Long-Term Unearned Revenue	10.36	5.99	3.01	0.73	9.1	30.43
Other Long-Term Liabilities	0.8	11.43	15.11	10.19	13.69	1.01
Total Liabilities	215.01	201.01	216.66	195.22	185.33	169.92

Shareholders' Equity

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Apr 30, 2026	Oct 31, 2025	Oct 31, 2024	Oct 31, 2023	Oct 31, 2022	Oct 31, 2021
Common Stock	0.01	0.01	0	0	0.04	0.04
Additional Paid-In Capital	2,651	2,493	2,300	2,200	2,094	1,908
Retained Earnings	-1,930	-1,829	-1,642	-1,516	-1,408	-1,265
Treasury Stock	-1.5	-1.41	-1.2	-1.08	-0.86	-0.59
Comprehensive Income & Other	-0.31	-0.29	-0.36	-0.59	-0.9	-0.23
Total Common Equity	719.43	662.18	656.92	682.49	684.39	642.44
Minority Interest	9.08	9.11	10.69	17.96	10.14	3.03
Shareholders' Equity	788.37	731.14	727.47	760.31	754.38	705.33
Total Liabilities & Equity	1,003	932.15	944.12	955.52	939.72	875.25

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Apr 30, 2026	Oct 31, 2025	Oct 31, 2024	Oct 31, 2023	Oct 31, 2022	Oct 31, 2021
Total Debt	158.9	132.53	141.36	129.06	90.6	96.83
Net Cash (Debt)	214.26	145.57	115.89	224.65	367.46	335.38
Net Cash Growth	407.29%	25.61%	-48.41%	-38.86%	9.56%	-
Net Cash Per Share	5.26	5.65	7.02	16.06	28.77	30.06
Filing Date Shares Outstanding	67.61	47.74	20.45	15.06	13.52	12.22
Total Common Shares Outstanding	63.55	46.03	20.38	15.02	13.52	12.22
Working Capital	480.63	381.97	370.55	410.41	494.48	490.62
Book Value Per Share	11.32	14.39	32.24	45.44	50.63	52.57
Tangible Book Value	716.19	658.29	638.07	662.34	662.94	619.69
Tangible Book Value Per Share	11.27	14.30	31.31	44.09	49.04	50.71
Land	-	0.52	0.52	0.52	0.52	0.52
Buildings	-	23.82	26.58	21.43	21.22	20.87
Machinery	-	152.87	149.69	141.77	113.01	113.77
Construction In Progress	-	37.36	68.59	33.95	26.48	6.42
Order Backlog	-	1,190	1,160	-	-	-

SEC Filings: 10-K · 10-Q

Data Source: S&P Global Market Intelligence Last updated: Jun 8, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company.

Update frequency:

Quarterly

Last checked:

Aug 16, 2026

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