FuelCell Energy, Inc.

NasdaqGM:FCEL Stock Report

Market Cap: US$212.3m

FuelCell Energy Valuation

Is FCEL undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of FCEL when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: Insufficient data to calculate FCEL's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate FCEL's fair value for valuation analysis.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for FCEL?

Key metric: As FCEL is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for FCEL. This is calculated by dividing FCEL's market cap by their current revenue.
What is FCEL's PS Ratio?
PS Ratio1.9x
SalesUS$112.13m
Market CapUS$212.32m

Price to Sales Ratio vs Peers

How does FCEL's PS Ratio compare to its peers?

The above table shows the PS ratio for FCEL vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average7x
XCH XCHG
3.2xn/aUS$124.3m
LNKS Linkers Industries
21.3xn/aUS$105.7m
CSLR Complete Solaria
2.8x63.7%US$113.6m
ULBI Ultralife
0.7x25.9%US$121.2m
FCEL FuelCell Energy
1.9x24.7%US$212.3m

Price-To-Sales vs Peers: FCEL is good value based on its Price-To-Sales Ratio (1.9x) compared to the peer average (7x).

Price to Sales Ratio vs Industry

How does FCEL's PS Ratio compare vs other companies in the US Electrical Industry?

23 CompaniesPrice / SalesEstimated GrowthMarket Cap
BW Babcock & Wilcox Enterprises
0.2x-0.03%US$151.85m
TPIC TPI Composites
0.09x14.1%US$114.15m
ZEO Zeo Energy
0.1xn/aUS$83.71m
CBAT CBAK Energy Technology
0.3x21.1%US$70.15m
FCEL 1.9xIndustry Avg. 1.9xNo. of Companies23PS0246810+
23 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: FCEL is good value based on its Price-To-Sales Ratio (1.9x) compared to the US Electrical industry average (1.9x).

Price to Sales Ratio vs Fair Ratio

What is FCEL's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

FCEL PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio1.9x
Fair PS Ratio0.2x

Price-To-Sales vs Fair Ratio: FCEL is expensive based on its Price-To-Sales Ratio (1.9x) compared to the estimated Fair Price-To-Sales Ratio (0.2x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst FCEL forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$10.42
US$10.02
-3.8%
29.8%US$13.75US$5.00n/a7
Dec ’25US$11.87
US$29.58
+149.2%
65.5%US$60.00US$5.00n/a6
Nov ’25US$10.46
US$33.75
+222.5%
47.6%US$60.00US$15.00n/a6
Oct ’25US$11.33
US$33.75
+197.8%
47.6%US$60.00US$15.00n/a6
Sep ’25US$12.14
US$38.05
+213.3%
37.1%US$60.00US$15.00n/a6
Aug ’25US$14.23
US$42.30
+197.3%
22.9%US$60.00US$30.00n/a6
Jul ’25US$18.32
US$42.30
+131.0%
22.9%US$60.00US$30.00n/a6
Jun ’25US$26.94
US$45.50
+68.9%
24.6%US$60.00US$30.00n/a6
May ’25US$26.96
US$45.00
+66.9%
23.2%US$60.00US$30.00n/a7
Apr ’25US$36.00
US$45.19
+25.5%
22.7%US$60.00US$30.00n/a8
Mar ’25US$37.20
US$51.00
+37.1%
25.3%US$75.00US$30.00n/a8
Feb ’25US$39.30
US$51.00
+29.8%
25.3%US$75.00US$30.00n/a8
Jan ’25US$48.00
US$56.63
+18.0%
34.8%US$96.00US$30.00n/a8
Dec ’24US$39.60
US$58.50
+47.7%
32.8%US$96.00US$30.00US$11.878
Nov ’24US$31.20
US$63.56
+103.7%
30.7%US$96.00US$30.00US$10.468
Oct ’24US$38.40
US$60.56
+57.7%
26.1%US$82.50US$30.00US$11.338
Sep ’24US$44.10
US$73.50
+66.7%
17.6%US$90.00US$45.00US$12.147
Aug ’24US$63.90
US$74.63
+16.8%
16.7%US$90.00US$45.00US$14.238
Jul ’24US$64.80
US$78.75
+21.5%
23.4%US$115.50US$45.00US$18.328
Jun ’24US$65.10
US$97.69
+50.1%
19.5%US$120.00US$60.00US$26.948
May ’24US$61.20
US$97.69
+59.6%
19.5%US$120.00US$60.00US$26.968
Apr ’24US$85.50
US$97.69
+14.3%
19.5%US$120.00US$60.00US$36.008
Mar ’24US$98.40
US$103.50
+5.2%
23.5%US$150.00US$60.00US$37.209
Feb ’24US$115.80
US$103.50
-10.6%
23.5%US$150.00US$60.00US$39.309
Jan ’24US$83.40
US$102.33
+22.7%
24.5%US$150.00US$60.00US$48.009
Dec ’23US$105.90
US$110.06
+3.9%
29.7%US$150.00US$60.00US$39.608

Analyst Forecast: Target price is lower than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/22 08:18
End of Day Share Price 2024/12/20 00:00
Earnings2024/10/31
Annual Earnings2024/10/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

FuelCell Energy, Inc. is covered by 28 analysts. 7 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Jinming LiuArdour Capital Investments, LLC
Ishan MajumdarBaptista Research
Ryan PfingstB. Riley Securities, Inc.