FCEL (FuelCell Energy) ROCE %: -32.24% (As of Apr. 2026)


FCEL FuelCell Energy Inc FCEL
60 GF Score
Price $21.56
GF Value $7.94
Valuation Significantly Overvalued
! 8 Warning Signs
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What is FuelCell Energy ROCE %?

FuelCell Energy FCEL -1.03% 60 ROCE % is -32.24% as of Apr. 2026. GuruFocus rates FCEL with a GF Score™ of 60/100 and a GF Value™ of $7.94 (Significantly Overvalued). The stock has 8 warning signs investors should review.

ROCE % measures how well a company generates profits from its capital. It is calculated as EBIT divided by Capital Employed, where Capital Employed is calculated as Total Assets minus Total Current Liabilities. FuelCell Energy's annualized ROCE % for the quarter that ended in Apr. 2026 was -32.24%.

FuelCell Energy  (NAS:FCEL) ROCE % Explanation

ROCE % can be especially useful when comparing the performance of capital-intensive companies. Unlike ROE %, which indicates the profitability of Shareholders Equity, ROCE % also considers long-term debt in Capital Employed. This can be helpful when analyzing companies with significant debt, as the result is neutralized by taking debt into consideration.

Generally speaking, a higher ROCE % indicates a stonger profitability for a company. Moreover, it is important to look at the ratio from a long term perspective. Investors tend to favor companies with stable and rising ROCE % trend over those with volatile ones.

FuelCell Energy ROCE % Related Terms

FuelCell Energy ROCE % Historical Data

* Premium members only.

The historical data trend for FuelCell Energy's ROCE % 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 ROCE % Chart

FuelCell Energy Annual Data
Trend Oct16 Oct17 Oct18 Oct19 Oct20 Oct21 Oct22 Oct23 Oct24 Oct25
ROCE %
Get a 7-Day Free Trial Premium Member Only Premium Member Only -14.55 -16.70 -11.50 -16.71 -20.85

FuelCell Energy Quarterly Data
Jul21 Oct21 Jan22 Apr22 Jul22 Oct22 Jan23 Apr23 Jul23 Oct23 Jan24 Apr24 Jul24 Oct24 Jan25 Apr25 Jul25 Oct25 Jan26 Apr26
ROCE % 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 -16.94 -45.31 -13.11 -10.46 -32.24
FCEL
60GF Score
FuelCell Energy Inc FCEL
ROCE % is just one metric. See GF Score™, valuation, warning signs, and more.
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FuelCell Energy ROCE % Calculation

FuelCell Energy's annualized ROCE % for the fiscal year that ended in Oct. 2025 is calculated as:

ROCE %=EBIT/( (Capital Employed+Capital Employed)/ count )
(A: Oct. 2025 )  (A: Oct. 2024 )(A: Oct. 2025 )
=EBIT/( ( (Total Assets - Total Current Liabilities)+(Total Assets - Total Current Liabilities) )/ count )
(A: Oct. 2025 )  (A: Oct. 2024 )(A: Oct. 2025 )
=-180.857/( ( (944.124 - 73.904) + (932.146 - 67.839) )/ 2 )
=-180.857/( (870.22+864.307)/ 2 )
=-180.857/867.2635
=-20.85 %

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

ROCE %=EBIT (1)/( (Capital Employed+Capital Employed)/ count )
(Q: Apr. 2026 )  (Q: Jan. 2026 )(Q: Apr. 2026 )
=EBIT/( ( (Total Assets - Total Current Liabilities)+(Total Assets - Total Current Liabilities) )/ count )
(Q: Apr. 2026 )  (Q: Jan. 2026 )(Q: Apr. 2026 )
=-299.28/( ( (978.478 - 62.135) + (1003.38 - 63.3) )/ 2 )
=-299.28/( ( 916.343 + 940.08 )/ 2 )
=-299.28/928.2115
=-32.24 %

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

* 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 ROCE % →
What does a ROCE % of -32.24% mean?
FuelCell Energy (FCEL) has a ROCE % of -32.24% as of Apr. 2026.
Is FuelCell Energy's ROCE % too high?
FuelCell Energy's current ROCE % is -32.24%. 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 ROCE % compare to ENR and ADSE?
FuelCell Energy's ROCE % of -32.24% can be compared against companies in the Industrial Products industry. The industry median ROCE % is 7.10. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good ROCE % for an Industrial Products company?
The median ROCE % among Industrial Products companies is 7.10, based on 3,032 companies in the industry. Companies in the top quartile (top 25%) have a ROCE % significantly above this median, while those in the bottom quartile fall well below. However, ROCE % 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 ROCE % mean?
A high ROCE % can signal that a stock is expensive relative to its fundamentals. For the Industrial Products industry, the median ROCE % is 7.10 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. FuelCell Energy's current ROCE % is -32.24%. 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 $7.94, compared to a current price of $21.56 — trading 171.5% above its estimated fair value. The current ROCE % is -32.24%. 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 ROCE % calculated?
ROCE % is calculated from a company's financial statements. For FuelCell Energy (FCEL), the current ROCE % is -32.24% 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 171.5% above its estimated GF Value™ of $7.94. GuruFocus considers FuelCell Energy to be Significantly Overvalued.

Key valuation signals for FCEL:

  • ROCE %: -32.24%
  • GF Value™: $7.94 vs. price of $21.56 (171.5% 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

Get the complete analysis for FCEL

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

$21.56
Price
$7.94
GF Value