FCEL (FuelCell Energy) Research & Development: $27.8 Mil (TTM As of Apr. 2026)


FCEL FuelCell Energy Inc FCEL
60 GF Score
Price $21.56
GF Value $7.96
Valuation Significantly Overvalued
! 8 Warning Signs
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What is FuelCell Energy Research & Development?

FuelCell Energy FCEL -1.03% 60 Research & Development is $27.8 Mil as of Apr. 2026. GuruFocus rates FCEL with a GF Score™ of 60/100 and a GF Value™ of $7.96 (Significantly Overvalued). The stock has 8 warning signs investors should review.

Research & Development is the aggregate amount of research and development expenses during the year. FuelCell Energy's Research & Development for the three months ended in Apr. 2026 was $7.7 Mil. Its Research & Development for the trailing twelve months (TTM) ended in Apr. 2026 was $27.8 Mil.

FuelCell Energy  (NAS:FCEL) Research & Development Explanation

If competitive advantage is created by a patent or tech advantage, at some point it will disappear.

High R&D usually dictates high SG&A which threatens the competitive advantage.

FuelCell Energy Research & Development Related Terms

FuelCell Energy Research & Development Historical Data

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The historical data trend for FuelCell Energy's Research & Development 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 Research & Development Chart

FuelCell Energy Annual Data
Trend Oct16 Oct17 Oct18 Oct19 Oct20 Oct21 Oct22 Oct23 Oct24 Oct25
Research & Development
Get a 7-Day Free Trial Premium Member Only Premium Member Only 11.32 34.53 61.02 55.40 34.08

FuelCell Energy Quarterly Data
Jul21 Oct21 Jan22 Apr22 Jul22 Oct22 Jan23 Apr23 Jul23 Oct23 Jan24 Apr24 Jul24 Oct24 Jan25 Apr25 Jul25 Oct25 Jan26 Apr26
Research & Development 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 9.90 7.65 5.46 6.96 7.71
FCEL
60GF Score
FuelCell Energy Inc FCEL
Research & Development is just one metric. See GF Score™, valuation, warning signs, and more.
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FuelCell Energy Research & Development Calculation

This is the expense the company spent on research and development.

Research & Development 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 $27.8 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 Research & Development →
What does a Research & Development of $27.8 Mil mean?
FuelCell Energy (FCEL) has a Research & Development of $27.8 Mil as of Apr. 2026. Research and development expense is the total cost for research and development activities. View historical data on FuelCell Energy and its competitors.
Is FuelCell Energy's Research & Development too high?
FuelCell Energy's current Research & Development is $27.8 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 Research & Development compare to ENR and ADSE?
FuelCell Energy's Research & Development of $27.8 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 Research & Development for an Industrial Products company?
A good Research & Development depends on the Industrial Products industry context. However, Research & Development 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 Research & Development mean?
A high Research & Development can signal that a stock is expensive relative to its fundamentals. Research and development expense is the total cost for research and development activities. View historical data on FuelCell Energy and its competitors. FuelCell Energy's current Research & Development is $27.8 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 (FCEL) is currently considered Significantly Overvalued. The stock's GF Value™ is $7.96, compared to a current price of $21.56 — trading 170.9% above its estimated fair value. The current Research & Development is $27.8 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 Research & Development calculated?
Research & Development is calculated from a company's financial statements. For FuelCell Energy (FCEL), the current Research & Development is $27.8 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 (FCEL) Overvalued in 2026?

Based on GuruFocus' analysis, FuelCell Energy stock appears to be overvalued. The current stock price of $21.56 is trading 170.9% above its estimated GF Value™ of $7.96. GuruFocus considers FuelCell Energy to be Significantly Overvalued.

Key valuation signals for FCEL:

  • Research & Development: $27.8 Mil
  • GF Value™: $7.96 vs. price of $21.56 (170.9% above fair value)
  • GF Score™: 60/100 with 8 warning signs

No single metric tells the full story. See the FCEL 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

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

$21.56
Price
$7.96
GF Value