FuelCell EnergyHAM:FEY -2.42%60 Operating Margin % is -99.32% 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. Among 3,038 Industrial Products companies, FuelCell Energy ranks worse than 95.19% on this metric.
FuelCell Energy Inc operating margin has been in a 5-year decline. The average rate of decline per year is -8.4%.
The historical rank and industry rank for FuelCell Energy's Operating Margin % or its related term are showing as below:
HAM:FEY'
s Operating Margin % Range Over the Past 10 Years
Min: -139.06 Med: -84.96 Max: -42.82
Current: -68.95
HAM:FEY's Operating Margin % is ranked worse than 95.19% of 3038
companies
in the Industrial Products industry
Industry Median: 6.53
vs HAM:FEY: -68.95
FuelCell Energy's 5-Year Average Operating Margin % Growth Rate was -8.40% per year.
FuelCell Energy Inc has never been profitable in the past 3 years. It lost money every year.
FuelCell Energy (HAM:FEY) Operating Margin % Explanation
Just like Gross Margin %, it is important to see a company maintains its operating margin over time. Among the same industry, a company with higher operating margin is more efficient in its operation. It is also more stable during industry slowdown or recessions. Peter Lynch prefers those with higher margins than those with lower margins.
Be Aware
Operating Margin % can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).
If a company is facing competition, its Operating Margin % may decline. Often the Operating Margin % declines well before the company's Revenue or even profit decline. Therefore, Operating Margin % is a very important indicator of whether the company is facing problems.
For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokias Operating Margin % had already been in decline since 2002, although its Earnings per Share (Diluted) were still rising. Investors who paid attention to Operating Margin % would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).
Therefore, Operating Margin % is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.
FuelCell Energy Operating Margin % Related Terms
FuelCell Energy Operating Margin % Historical Data
* Premium members only.
The historical data trend for FuelCell Energy's Operating Margin % 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.
HAM:FEY vs ENR, ADSE, KE: Operating Margin % Comparison
For the Electrical Equipment & Parts subindustry, FuelCell Energy's Operating Margin %, along with its competitors' market caps and Operating Margin % 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 Operating Margin % vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, FuelCell Energy's Operating Margin % distribution charts can be found below:
* The bar in red indicates where FuelCell Energy's Operating Margin % falls into.
Operating Margin % - also known as operating income margin, operating profit margin and return on sales (ROS) - is the ratio of Operating Income divided by net sales or Revenue, usually presented in percent.
FuelCell Energy's Operating Margin % for the fiscal year that ended in Oct. 2025 is calculated as
* 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 (HAM:FEY) has a Operating Margin % of -99.32% as of Apr. 2026. Operating margin is the ratio of total operating income to net sales. View historical data on FuelCell Energy and its competitors. According to the industry distribution chart, FuelCell Energy ranks #2892 out of 3038 companies in the Industrial Products industry, placing it in the top 95.2%.
Is FuelCell Energy's Operating Margin % too high?
FuelCell Energy's current Operating Margin % is -99.32%. Based on the distribution chart, FuelCell Energy ranks #2892 out of 3038 companies in the Industrial Products industry, which is in the bottom quartile relative to peers. 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 Operating Margin % compare to ENR and ADSE?
According to the Industrial Products industry distribution chart, FuelCell Energy ranks #2892 out of 3038 companies for Operating Margin %. This places FuelCell Energy in the lower half of its industry. The industry median Operating Margin % is 6.53. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Operating Margin % for an Industrial Products company?
The median Operating Margin % among Industrial Products companies is 6.53, based on 3,038 companies in the industry. Companies in the top quartile (top 25%) have a Operating Margin % significantly above this median, while those in the bottom quartile fall well below. However, Operating Margin % 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 Operating Margin % mean?
A high Operating Margin % can signal that a stock is expensive relative to its fundamentals. Operating margin is the ratio of total operating income to net sales. View historical data on FuelCell Energy and its competitors. For the Industrial Products industry, the median Operating Margin % is 6.53 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. FuelCell Energy's current Operating Margin % is -99.32%. 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 Operating Margin % is -99.32%. 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 Operating Margin % calculated?
Operating Margin % is calculated from a company's financial statements. For FuelCell Energy (HAM:FEY), the current Operating Margin % is -99.32% 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:
Operating Margin %: -99.32%
GF Value™: €6.67 vs. price of €19.35 (190.1% above fair value)
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 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
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