Fuel Tech, Inc.

NasdaqCM:FTEK Stock Report

Market Cap: US$47.4m

Fuel Tech Future Growth

Future criteria checks 4/6

Fuel Tech is forecast to grow earnings and revenue by 65.6% and 15.1% per annum respectively while EPS is expected to grow by 66% per annum.

Key information

65.6%

Earnings growth rate

66.04%

EPS growth rate

Commercial Services earnings growth13.6%
Revenue growth rate15.1%
Future return on equityn/a
Analyst coverage

Low

Last updated07 May 2026

Recent future growth updates

Analysis Article • Aug 10

US$4.00 - That's What Analysts Think Fuel Tech, Inc. (NASDAQ:FTEK) Is Worth After These Results

Fuel Tech, Inc. ( NASDAQ:FTEK ) shareholders are probably feeling a little disappointed, since its shares fell 2.9% to...

Recent updates

Analysis Article • Feb 16

Take Care Before Diving Into The Deep End On Fuel Tech, Inc. (NASDAQ:FTEK)

It's not a stretch to say that Fuel Tech, Inc.'s ( NASDAQ:FTEK ) price-to-sales (or "P/S") ratio of 1.6x right now...
Analysis Article • Nov 06

Fuel Tech, Inc.'s (NASDAQ:FTEK) 26% Dip Still Leaving Some Shareholders Feeling Restless Over Its P/SRatio

Fuel Tech, Inc. ( NASDAQ:FTEK ) shareholders that were waiting for something to happen have been dealt a blow with a...
Analysis Article • Sep 19

Fuel Tech, Inc. (NASDAQ:FTEK) Stocks Shoot Up 27% But Its P/S Still Looks Reasonable

Despite an already strong run, Fuel Tech, Inc. ( NASDAQ:FTEK ) shares have been powering on, with a gain of 27% in the...
Analysis Article • Jun 28

After Leaping 53% Fuel Tech, Inc. (NASDAQ:FTEK) Shares Are Not Flying Under The Radar

Despite an already strong run, Fuel Tech, Inc. ( NASDAQ:FTEK ) shares have been powering on, with a gain of 53% in the...
Analysis Article • May 14

Getting In Cheap On Fuel Tech, Inc. (NASDAQ:FTEK) Is Unlikely

With a median price-to-sales (or "P/S") ratio of close to 1.3x in the Commercial Services industry in the United...
Analysis Article • Feb 19

We Think Fuel Tech (NASDAQ:FTEK) Can Afford To Drive Business Growth

Just because a business does not make any money, does not mean that the stock will go down. For example, although...
Analysis Article • Aug 10

US$4.00 - That's What Analysts Think Fuel Tech, Inc. (NASDAQ:FTEK) Is Worth After These Results

Fuel Tech, Inc. ( NASDAQ:FTEK ) shareholders are probably feeling a little disappointed, since its shares fell 2.9% to...
Analysis Article • Feb 06

Fuel Tech, Inc.'s (NASDAQ:FTEK) Price Is Out Of Tune With Revenues

There wouldn't be many who think Fuel Tech, Inc.'s ( NASDAQ:FTEK ) price-to-sales (or "P/S") ratio of 1.3x is worth a...
Analysis Article • Sep 27

It's A Story Of Risk Vs Reward With Fuel Tech, Inc. (NASDAQ:FTEK)

There wouldn't be many who think Fuel Tech, Inc.'s ( NASDAQ:FTEK ) price-to-sales (or "P/S") ratio of 1.1x is worth a...
Analysis Article • Apr 25

We're Hopeful That Fuel Tech (NASDAQ:FTEK) Will Use Its Cash Wisely

Even when a business is losing money, it's possible for shareholders to make money if they buy a good business at the...
Analysis Article • Jan 07

Companies Like Fuel Tech (NASDAQ:FTEK) Can Afford To Invest In Growth

We can readily understand why investors are attracted to unprofitable companies. For example, biotech and mining...
Analysis Article • Sep 23

We Think Fuel Tech (NASDAQ:FTEK) Can Afford To Drive Business Growth

Even when a business is losing money, it's possible for shareholders to make money if they buy a good business at the...
Seeking Alpha • Mar 18

Revisiting Fuel Tech - Financials Have Improved And EV Is Approaching Zero And I'm Now Bullish

Revenues rose to 7.6% to $24.3 million in 2021, and the company is close to breakeven thanks to lower SG&A expenses. I think that Fuel Tech’s Dissolved Gas Infusion technology could become a significant contributor to revenues in a year or two. The company closed December 2021 with $35.9 million in cash and cash equivalents, which means that its enterprise value is below $6 million. I view Fuel Tech as a speculative buy as the business still isn’t profitable, and 67% of net revenues in 2021 were attributable to only 5 customers.

Earnings and Revenue Growth Forecasts

NasdaqCM:FTEK - Analysts future estimates and past financials data (USD Millions)
DateRevenueEarningsFree Cash FlowCash from OpAvg. No. Analysts
12/31/2028390N/AN/A1
12/31/202733-2N/AN/A1
12/31/202628-4N/AN/A1
3/31/202626-301N/A
12/31/202527-223N/A
9/30/202525-333N/A
6/30/202525-301N/A
3/31/202527-3-1-1N/A
12/31/202425-2-4-3N/A
9/30/202426-1-2-1N/A
6/30/2024260-3-2N/A
3/31/202425-1-2-1N/A
12/31/202327-201N/A
9/30/202328-1-1-1N/A
6/30/202328-2-1-1N/A
3/31/202329-1-2-1N/A
12/31/202227-1-4-4N/A
9/30/202226-1-2-2N/A
6/30/202226-1-3-3N/A
3/31/202225-1-1-1N/A
12/31/202124011N/A
9/30/202124-111N/A
6/30/202125011N/A
3/31/202124-1-1-1N/A
12/31/202023-4-3-3N/A
9/30/202021-7-5-4N/A
6/30/202020-11-4-4N/A
3/31/202024-9-10N/A
12/31/201930-8N/A-3N/A
9/30/201941-3N/A5N/A
6/30/2019510N/A6N/A
3/31/201954-1N/A3N/A
12/31/2018570N/A5N/A
9/30/2018540N/A-1N/A
6/30/201852-1N/A-2N/A
3/31/201849-5N/A-5N/A
12/31/201745-7N/A-4N/A
9/30/201741-16N/A-6N/A
6/30/201740-18N/A-6N/A
3/31/201746-14N/A1N/A
12/31/201655-15N/A-3N/A
9/30/201664-15N/A6N/A
6/30/201673-13N/A6N/A
3/31/201676-13N/A0N/A
12/31/201574-10N/A7N/A
9/30/201574-20N/A3N/A
6/30/201574-19N/A6N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: FTEK is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (3.5%).

Earnings vs Market: FTEK is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: FTEK is expected to become profitable in the next 3 years.

Revenue vs Market: FTEK's revenue (15.1% per year) is forecast to grow faster than the US market (11.6% per year).

High Growth Revenue: FTEK's revenue (15.1% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: Insufficient data to determine if FTEK's Return on Equity is forecast to be high in 3 years time

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/05/11 12:08
End of Day Share Price 2026/05/11 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

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.

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 Github.

Analyst Sources

Fuel Tech, Inc. is covered by 9 analysts. 1 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
John QuealyCanaccord Genuity
Bryce DilleCitizens JMP Securities, LLC
Carter ShoopDeutsche Bank