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FuelCell Energy Valuation Multiples

Discover revenue and EBITDA valuation multiples for FuelCell Energy and similar public comparables like Corre Energy, Aegis Logistics, and Lion E-Mobility.

FuelCell Energy Overview

About FuelCell Energy

FuelCell Energy Inc is a fuel-cell power company. FuelCell designs manufactures, sells, installs, operates, and services fuel cell products and electrolysis platforms that decarbonize power and produce hydrogen. It serves various industries such as Industrial, Wastewater treatment, Commercial and Hospitality, Data centers and Communications, Education and Healthcare, and others. Geographically, the company operates in USA, South Korea, Europe and Canada. Majority of revenue is from USA and South Korea.


Founded

1969

HQ

United States of America
Employees

584

Financials

LTM Revenue $130M

LTM EBITDA -$84.9M

EV

$87.8M

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FuelCell Energy Financials

FuelCell Energy has a last 12-month revenue of $130M and a last 12-month EBITDA of -$84.9M.

In the most recent fiscal year, FuelCell Energy achieved revenue of $112M and an EBITDA of -$111M.

FuelCell Energy expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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FuelCell Energy P&L

FY 2023 FY 2024 FY 2025 LTM NTM
Revenue $123M $112M XXX XXX XXX
Gross Profit -$29.6M -$10.5M XXX XXX XXX
Gross Margin -24% -9% XXX XXX XXX
EBITDA -$74.9M -$111M XXX XXX XXX
EBITDA Margin -61% -99% XXX XXX XXX
Net Profit -$143M -$108M XXX XXX XXX
Net Margin -116% -96% XXX XXX XXX
Net Debt n/a n/a XXX XXX XXX

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FuelCell Energy Stock Performance

As of April 15, 2025, FuelCell Energy's stock price is $4.

FuelCell Energy has current market cap of $84.2M, and EV of $87.8M.

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FuelCell Energy Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$87.8M $84.2M XXX XXX XXX XXX $-6.81

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FuelCell Energy Valuation Multiples

As of April 15, 2025, FuelCell Energy has market cap of $84.2M and EV of $87.8M.

FuelCell Energy's trades at 0.7x LTM EV/Revenue multiple, and -1.0x LTM EBITDA.

Analysts estimate FuelCell Energy's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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FuelCell Energy Financial Valuation Multiples

FY 2024 FY 2025E FY 2026E FY 2027E
EV $87.8M XXX XXX XXX
EV/Revenue 0.7x XXX XXX XXX
EV/EBITDA -0.8x XXX XXX XXX
P/E -0.7x XXX XXX XXX
P/E/Growth n/a XXX XXX XXX
EV/FCF -0.5x XXX XXX XXX

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FuelCell Energy Valuation Multiples

FuelCell Energy's NTM/LTM revenue growth is 24%

FuelCell Energy's revenue per employee for the last fiscal year averaged $0.2M, while opex per employee averaged $0.2M for the same period.

Over next 12 months, FuelCell Energy's ratio of sales and marketing spend to revenue is estimated to be  XXX , while its R&D spend to revenue to be  XXX .

Analysts estimate FuelCell Energy's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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FuelCell Energy Operational Valuation Multiples

FY 2024 NTM FY 2025E FY 2026E FY 2027E
Revenue Growth -9% XXX XXX XXX XXX
EBITDA Margin -87% XXX XXX XXX XXX
EBITDA Growth 48% XXX XXX XXX XXX
Rule of 40 (SaaS-only) -63% XXX XXX XXX XXX
Revenue per Employee $0.2M XXX XXX XXX XXX
Opex per Employee $0.2M XXX XXX XXX XXX
S&M Expenses to Revenue n/a XXX XXX XXX XXX
G&A Expenses to Revenue n/a XXX XXX XXX XXX
R&D Expenses to Revenue 49% XXX XXX XXX XXX
Opex to Revenue 107% XXX XXX XXX XXX

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FuelCell Energy Public Comps

See public comps and valuation multiples for Energy Storage and Electrical Parts & Equipment comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
Alfen XXX XXX XXX XXX XXX XXX
Royal Vopak XXX XXX XXX XXX XXX XXX
Lion E-Mobility XXX XXX XXX XXX XXX XXX
Aegis Logistics XXX XXX XXX XXX XXX XXX
Corre Energy XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

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FuelCell Energy M&A and Investment Activity

FuelCell Energy acquired  XXX companies to date.

Last acquisition by FuelCell Energy was  XXXXXXXX, XXXXX XXXXX XXXXXX . FuelCell Energy acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by FuelCell Energy

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About FuelCell Energy

When was FuelCell Energy founded? FuelCell Energy was founded in 1969.
Where is FuelCell Energy headquartered? FuelCell Energy is headquartered in United States of America.
How many employees does FuelCell Energy have? As of today, FuelCell Energy has 584 employees.
Who is the CEO of FuelCell Energy? FuelCell Energy's CEO is Mr. Jason B. Few.
Is FuelCell Energy publicy listed? Yes, FuelCell Energy is a public company listed on NAS.
What is the stock symbol of FuelCell Energy? FuelCell Energy trades under FCEL ticker.
When did FuelCell Energy go public? FuelCell Energy went public in 1992.
Who are competitors of FuelCell Energy? Similar companies to FuelCell Energy include e.g. Alfen, Royal Vopak, Lion E-Mobility, Aegis Logistics.
What is the current market cap of FuelCell Energy? FuelCell Energy's current market cap is $84.2M
What is the current revenue of FuelCell Energy? FuelCell Energy's last 12-month revenue is $130M.
What is the current EBITDA of FuelCell Energy? FuelCell Energy's last 12-month EBITDA is -$84.9M.
What is the current EV/Revenue multiple of FuelCell Energy? Current revenue multiple of FuelCell Energy is 0.7x.
What is the current EV/EBITDA multiple of FuelCell Energy? Current EBITDA multiple of FuelCell Energy is -1.0x.
What is the current revenue growth of FuelCell Energy? FuelCell Energy revenue growth between 2023 and 2024 was -9%.
Is FuelCell Energy profitable? Yes, FuelCell Energy is EBITDA-positive (as of the last 12 months).

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