FuelCell Energy, Inc. (FCEL)

FuelCell Energy Cash Flow Statement

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

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jan 31, 2026	Oct 31, 2025	Oct 31, 2024	Oct 31, 2023	Oct 31, 2022	Oct 31, 2021
Net Income	-185.04	-191.37	-156.78	-108.06	-147.23	-101.03
Depreciation & Amortization	40.97	40.4	36.19	25.38	21.27	19.87
Stock-Based Compensation	11.34	11.09	11.76	11.95	6.79	4.29
Other Adjustments	-1.33	64.38	13.76	-16.52	8.61	36.5
Change in Receivables	-69.56	-58.39	-30.99	-20.85	8.97	-8.78
Changes in Inventories	27.13	15.87	-29.25	4.69	-28.06	-18.76
Changes in Accounts Payable	-2.55	-2.76	-1	3	6.33	1.99
Changes in Accrued Expenses	0.21	-0.12	4.69	-4.46	24.62	0.32
Changes in Unearned Revenue	4.23	1.48	4.1	-22.3	-11.28	-5.19
Changes in Other Operating Activities	-3.4	-5.88	-5.4	-13.09	-2.09	-1.53
Operating Cash Flow	-113.52	-125.29	-152.91	-140.25	-112.17	-70.44
Capital Expenditures	-18.15	-22.54	-59.55	-92.36	-46.65	-73.23
Purchases of Investments	-282.05	-660.97	-835.74	-299.09	-	-
Proceeds from Sale of Investments	423.9	772.37	835.24	199.09	-	-
Investing Cash Flow	93.24	88.86	-60.05	-192.37	-46.65	-73.23
Long-Term Debt Issued	59.69	23.1	-	100.5	-	10.18
Long-Term Debt Repaid	-16.27	-14.44	-11.7	-47.83	-9.54	-102.64
Net Long-Term Debt Issued (Repaid)	43.42	8.66	-11.7	52.67	-9.54	-92.47
Issuance of Common Stock	234.78	185.74	92.68	97.5	183.55	526.82
Repurchase of Common Stock	-0.66	-0.55	-1.07	-0.89	-1.89	-0.34
Net Common Stock Issued (Repurchased)	234.12	185.18	91.6	96.61	181.67	526.48
Repurchase of Preferred Stock	-	-	-	-	-	-21.54
Net Preferred Stock Issued (Repurchased)	-	-	-	-	-	-21.54
Preferred Share Dividends Paid	-3.2	-3.2	-3.2	-3.2	-3.2	-3.2
Other Financing Activities	1.57	1.72	22.34	4.99	11.66	2.64
Financing Cash Flow	239.23	169.26	122.15	151.07	180.58	411.91
Effect of Exchange Rate Changes on Cash and Cash Equivalents	0.24	0.08	0.11	0.08	-0.93	-0.08
Net Cash Flow	219.18	132.91	-90.69	-181.47	20.83	268.16
Free Cash Flow	-131.67	-147.83	-212.46	-232.61	-158.82	-143.67
FCF Margin	-77.59%	-93.47%	-189.47%	-188.51%	-121.71%	-206.46%
Free Cash Flow Per Share	-4.03	-5.74	-12.87	-16.63	-12.44	-12.88
Levered Free Cash Flow	-90.56	-152.78	-187.93	-154.05	-188.12	-270.05
Unlevered Free Cash Flow	-137.2	-165.75	-208.68	-234.5	-178.78	-141.42

Updated Mar 9, 2026. Data Source: Fiscal.ai. Utilities template. Financial Sources.

SEC Filings: 10-K · 10-Q