The historical rank and industry rank for FuelCell Energy's ROE % or its related term are showing as below:
FCEL'
s ROE % Range Over the Past 10 Years
Min: -49.64 Med: -26 Max: -14.47
Current: -31.39
During the past 13 years, FuelCell Energy's highest ROE % was -14.47%. The lowest was -49.64%. And the median was -26.00%.
FCEL's ROE % is ranked worse than 93.85% of 3009
companies
in the Industrial Products industry
Industry Median: 5.91
vs FCEL: -31.39
FuelCell Energy (NAS:FCEL) ROE % Explanation
ROE % measures the rate of return on the ownership interest (shareholder's equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' equity (also known as net assets or assets minus liabilities). ROE % shows how well a company uses investment funds to generate earnings growth. ROE %s between 15% and 20% are considered desirable.
The factors that affect a company's ROE % can be illustrated with the three-step DuPont Analysis:
Note:
The net income data used here is four times the quarterly (Apr. 2026) net income data. The Revenue data used here is four times the quarterly (Apr. 2026) revenue data. The same rule applies to Pre-Tax Income and Operating Income.
* In the five-step DuPont Analysis, Operating Income is only available for non-financial companies. Thus, for Insurance companies, we use EBIT as a substitution of Operating Income. For Banks, both Operating Income and EBIT is unavailable. Thus we combined Interest Burden and Operating Margin % into Pretax Margin %, and the DuPont Analysis is divided into four components instead.
* 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.
Be Aware
Net Income is used.
Because a company can increase its ROE % by having more financial leverage, it is important to watch the equity multiplier when investing in high ROE % companies. Like ROA %, ROE % is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
Asset light businesses require very few assets to generate very high earnings. Their ROE %s can be extremely high.
FuelCell Energy ROE % Related Terms
FuelCell Energy ROE % Historical Data
* Premium members only.
The historical data trend for FuelCell Energy's ROE % 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.
For the Electrical Equipment & Parts subindustry, FuelCell Energy's ROE %, along with its competitors' market caps and ROE % 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 ROE % vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, FuelCell Energy's ROE % distribution charts can be found below:
* The bar in red indicates where FuelCell Energy's ROE % falls into.
* 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.
In the calculation of annual ROE %, the net income of the last fiscal year and the average total shareholder equity over the fiscal year are used. In calculating the quarterly data,
the net income data used here is four times the quarterly (Apr. 2026) net income data.
ROE % is displayed in the 30-year financial page.
FuelCell Energy (FCEL) has a ROE % of -40.63% as of Apr. 2026. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on FuelCell Energy and its competitors. According to the industry distribution chart, FuelCell Energy ranks #2824 out of 3009 companies in the Industrial Products industry, placing it in the top 93.9%.
Is FuelCell Energy's ROE % too high?
FuelCell Energy's current ROE % is -40.63%. Based on the distribution chart, FuelCell Energy ranks #2824 out of 3009 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 ROE % compare to ENR and ADSE?
According to the Industrial Products industry distribution chart, FuelCell Energy ranks #2824 out of 3009 companies for ROE %. This places FuelCell Energy in the lower half of its industry. The industry median ROE % is 5.91. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good ROE % for an Industrial Products company?
The median ROE % among Industrial Products companies is 5.91, based on 3,009 companies in the industry. Companies in the top quartile (top 25%) have a ROE % significantly above this median, while those in the bottom quartile fall well below. However, ROE % 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 ROE % mean?
A high ROE % can signal that a stock is expensive relative to its fundamentals. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on FuelCell Energy and its competitors. For the Industrial Products industry, the median ROE % is 5.91 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. FuelCell Energy's current ROE % is -40.63%. 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 ROE % is -40.63%. 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 ROE % calculated?
ROE % is calculated from a company's financial statements. For FuelCell Energy (FCEL), the current ROE % is -40.63% 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:
ROE %: -40.63%
GF Value™: $7.96 vs. price of $21.56 (170.9% above fair value)
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 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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