FuelCell Energy (HAM:FEY) EBIT: €-183.2 Mil (TTM As of Apr. 2026)


HAM:FEY FuelCell Energy Inc HAM:FEY
60 GF Score
Price €19.35
GF Value €6.67
Valuation Significantly Overvalued
! 8 Warning Signs
View Full Analysis

What is FuelCell Energy EBIT?

FuelCell Energy HAM:FEY -2.42% 60 EBIT is €-183.2 Mil as of Apr. 2026. GuruFocus rates HAM:FEY with a GF Score™ of 60/100 and a GF Value™ of €6.67 (Significantly Overvalued). The stock has 8 warning signs investors should review.

FuelCell Energy's earnings before interest and taxes (EBIT) for the three months ended in Apr. 2026 was €-64.0 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Apr. 2026 was €-183.2 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. FuelCell Energy's annualized ROC % for the quarter that ended in Apr. 2026 was -23.28%. FuelCell Energy's annualized ROC (Joel Greenblatt) % for the quarter that ended in Apr. 2026 was -157.22%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. FuelCell Energy's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Apr. 2026 was -15.88%.


FuelCell Energy  (HAM:FEY) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

FuelCell Energy's annualized ROC % for the quarter that ended in Apr. 2026 is calculated as:

ROC % (Q: Apr. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Jan. 2026 ) + Invested Capital (Q: Apr. 2026 ))/ count )
=-120.884 * ( 1 - 0.06% )/( (533.82 + 504.13)/ 2 )
=-120.8114696/518.975
=-23.28 %

where

Invested Capital(Q: Jan. 2026 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=832.685 - 33.542 - ( 265.323 - max(0, 52.877 - 421.043+265.323))
=533.82

Note: The Operating Income data used here is four times the quarterly (Apr. 2026) data.

2. Joel Greenblatt's definition of Return on Capital:

FuelCell Energy's annualized ROC (Joel Greenblatt) % for the quarter that ended in Apr. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Apr. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Jan. 2026  Q: Apr. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=-255.884/( ( (90.899 + max(73.412, 0)) + (90.947 + max(70.251, 0)) )/ 2 )
=-255.884/( ( 164.311 + 161.198 )/ 2 )
=-255.884/162.7545
=-157.22 %

where Working Capital is:

Working Capital(Q: Jan. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(5.297 + 76.824 + 28.195) - (33.542 + 3.361 + 0.0010000000000048)
=73.412

Working Capital(Q: Apr. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(6.57 + 75.624 + 26.485) - (34.702 + 3.727 + -0.00099999999999056)
=70.251

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Apr. 2026) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

FuelCell Energy's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Apr. 2026 )
=-183.225/1153.863
=-15.88 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.


FuelCell Energy EBIT Related Terms


FuelCell Energy EBIT Historical Data

* Premium members only.

The historical data trend for FuelCell Energy's EBIT can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

FuelCell Energy EBIT Chart

FuelCell Energy Annual Data
Trend Oct16 Oct17 Oct18 Oct19 Oct20 Oct21 Oct22 Oct23 Oct24 Oct25
EBIT
Get a 7-Day Free Trial Premium Member Only Premium Member Only -80.74 -142.12 -94.92 -135.00 -155.36

FuelCell Energy Quarterly Data
Jul21 Oct21 Jan22 Apr22 Jul22 Oct22 Jan23 Apr23 Jul23 Oct23 Jan24 Apr24 Jul24 Oct24 Jan25 Apr25 Jul25 Oct25 Jan26 Apr26
EBIT Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -31.25 -76.54 -22.90 -19.82 -63.97

HAM:FEY vs ENR, ADSE, KE: EBIT Comparison

For the Electrical Equipment & Parts subindustry, FuelCell Energy's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


FuelCell Energy EV-to-EBIT vs Industrial Products Industry

For the Industrial Products industry and Industrials sector, FuelCell Energy's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where FuelCell Energy's EV-to-EBIT falls into.


HAM:FEY
60GF Score
FuelCell Energy Inc HAM:FEY
EBIT is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

FuelCell Energy EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Apr. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was €-183.2 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about EBIT →
What does a EBIT of €-183.2 Mil mean?
FuelCell Energy (HAM:FEY) has a EBIT of €-183.2 Mil as of Apr. 2026. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on FuelCell Energy.
Is FuelCell Energy's EBIT too high?
FuelCell Energy's current EBIT is €-183.2 Mil. Overall, FuelCell Energy has a GF Score™ of 60/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does FuelCell Energy's EBIT compare to ENR and ADSE?
FuelCell Energy's EBIT of €-183.2 Mil can be compared against companies in the Industrial Products industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EBIT for an Industrial Products company?
A good EBIT depends on the Industrial Products industry context. However, EBIT should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EBIT mean?
A high EBIT can signal that a stock is expensive relative to its fundamentals. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on FuelCell Energy. FuelCell Energy's current EBIT is €-183.2 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is FuelCell Energy stock overvalued right now?
Based on GuruFocus' analysis, FuelCell Energy (HAM:FEY) is currently considered Significantly Overvalued. The stock's GF Value™ is €6.67, compared to a current price of €19.35 — trading 190.1% above its estimated fair value. The current EBIT is €-183.2 Mil. FuelCell Energy's overall GF Score™ is 60/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EBIT calculated?
EBIT is calculated from a company's financial statements. For FuelCell Energy (HAM:FEY), the current EBIT is €-183.2 Mil as of Apr. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is FuelCell Energy (HAM:FEY) Overvalued in 2026?

Based on GuruFocus' analysis, FuelCell Energy stock appears to be overvalued. The current stock price of €19.35 is trading 190.1% above its estimated GF Value™ of €6.67. GuruFocus considers FuelCell Energy to be Significantly Overvalued.

Key valuation signals for HAM:FEY:

  • EBIT: €-183.2 Mil
  • GF Value™: €6.67 vs. price of €19.35 (190.1% above fair value)
  • GF Score™: 60/100 with 8 warning signs

No single metric tells the full story. See the HAM:FEY stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


FuelCell Energy Business Description

Address 3 Great Pasture Road, Danbury, CT, USA, 06810
FuelCell Energy Inc is a clean energy technology company engaged in the development, design, production, and servicing of high temperature fuel cells for clean electric power generation. The Company provides proprietary molten carbonate fuel cell systems that generate electricity electrochemically with ultra low emissions and high efficiency, and operates as a solutions provider managing the design, manufacturing, installation, and maintenance of its systems under long term power purchase, service, and engineering procurement agreements. The Company serves utilities, data centers, and commercial and industrial customers, and operates in the United States, South Korea, Europe, and Canada, with maximum revenue generated from the United States.
60GF Score

Get the complete analysis for HAM:FEY

EBIT is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€19.35
Price
€6.67
GF Value