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Side-by-side financial comparison of ACACIA RESEARCH CORP (ACTG) and FUELCELL ENERGY INC (FCEL). Click either name above to swap in a different company.
FUELCELL ENERGY INC is the larger business by last-quarter revenue ($55.0M vs $50.1M, roughly 1.1× ACACIA RESEARCH CORP). ACACIA RESEARCH CORP runs the higher net margin — 6.8% vs -54.3%, a 61.1% gap on every dollar of revenue. On growth, FUELCELL ENERGY INC posted the faster year-over-year revenue change (11.5% vs 2.6%). Over the past eight quarters, FUELCELL ENERGY INC's revenue compounded faster (81.6% CAGR vs 43.6%).
Acacia Research Corporation is a publicly traded American company based in New York City. It acquires and operates businesses in industries including the technology, energy, and industrial/manufacturing sectors. Acacia has a strategic relationship with Starboard Value, LP, the company's controlling shareholder. The company has been characterized as a patent troll.
FuelCell Energy, Inc. is a publicly traded fuel cell company headquartered in Danbury, Connecticut. It designs, manufactures, operates and services power plants based on molten carbonate fuel cells.
ACTG vs FCEL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $50.1M | $55.0M |
| Net Profit | $3.4M | $-29.9M |
| Gross Margin | 12.8% | -12.1% |
| Operating Margin | -26.1% | -51.5% |
| Net Margin | 6.8% | -54.3% |
| Revenue YoY | 2.6% | 11.5% |
| Net Profit YoY | 125.5% | 27.9% |
| EPS (diluted) | $0.03 | $-0.43 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $50.1M | $55.0M | ||
| Q3 25 | $59.4M | $46.7M | ||
| Q2 25 | $51.2M | $37.4M | ||
| Q1 25 | $124.4M | $19.0M | ||
| Q4 24 | $48.8M | $49.3M | ||
| Q3 24 | $23.3M | $23.7M | ||
| Q2 24 | $25.8M | $22.4M | ||
| Q1 24 | $24.3M | $16.7M |
| Q4 25 | $3.4M | $-29.9M | ||
| Q3 25 | $-2.7M | $-91.7M | ||
| Q2 25 | $-3.3M | $-38.0M | ||
| Q1 25 | $24.3M | $-28.3M | ||
| Q4 24 | $-13.4M | $-41.4M | ||
| Q3 24 | $-14.0M | $-32.7M | ||
| Q2 24 | $-8.4M | $-32.1M | ||
| Q1 24 | $-186.0K | $-19.8M |
| Q4 25 | 12.8% | -12.1% | ||
| Q3 25 | 21.2% | -11.0% | ||
| Q2 25 | 12.8% | -25.2% | ||
| Q1 25 | 47.4% | -27.4% | ||
| Q4 24 | 17.6% | -22.1% | ||
| Q3 24 | 10.1% | -26.2% | ||
| Q2 24 | 26.2% | -31.6% | ||
| Q1 24 | 49.2% | -70.2% |
| Q4 25 | -26.1% | -51.5% | ||
| Q3 25 | -10.8% | -204.0% | ||
| Q2 25 | -24.2% | -95.7% | ||
| Q1 25 | 30.8% | -172.9% | ||
| Q4 24 | -32.4% | -83.2% | ||
| Q3 24 | -44.1% | -141.9% | ||
| Q2 24 | -18.4% | -184.5% | ||
| Q1 24 | -8.6% | -254.5% |
| Q4 25 | 6.8% | -54.3% | ||
| Q3 25 | -4.6% | -196.1% | ||
| Q2 25 | -6.4% | -101.7% | ||
| Q1 25 | 19.5% | -149.1% | ||
| Q4 24 | -27.5% | -84.0% | ||
| Q3 24 | -60.0% | -137.8% | ||
| Q2 24 | -32.7% | -143.4% | ||
| Q1 24 | -0.8% | -118.6% |
| Q4 25 | $0.03 | $-0.43 | ||
| Q3 25 | $-0.03 | $-3.78 | ||
| Q2 25 | $-0.03 | $-1.79 | ||
| Q1 25 | $0.25 | $-1.42 | ||
| Q4 24 | $-0.14 | $-2.29 | ||
| Q3 24 | $-0.14 | $-1.99 | ||
| Q2 24 | $-0.08 | $-2.18 | ||
| Q1 24 | $0.00 | $-1.37 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $306.7M | $278.1M |
| Total DebtLower is stronger | $91.9M | $103.8M |
| Stockholders' EquityBook value | $543.5M | $662.2M |
| Total Assets | $771.0M | $932.1M |
| Debt / EquityLower = less leverage | 0.17× | 0.16× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $306.7M | $278.1M | ||
| Q3 25 | $301.8M | $174.7M | ||
| Q2 25 | $316.7M | $177.0M | ||
| Q1 25 | $272.0M | $208.4M | ||
| Q4 24 | $273.9M | $257.3M | ||
| Q3 24 | $410.9M | $267.2M | ||
| Q2 24 | $441.9M | $260.1M | ||
| Q1 24 | $498.4M | $297.5M |
| Q4 25 | $91.9M | $103.8M | ||
| Q3 25 | — | $106.4M | ||
| Q2 25 | — | $109.4M | ||
| Q1 25 | — | $112.3M | ||
| Q4 24 | — | $115.7M | ||
| Q3 24 | — | $112.7M | ||
| Q2 24 | — | $116.2M | ||
| Q1 24 | — | $107.2M |
| Q4 25 | $543.5M | $662.2M | ||
| Q3 25 | $537.6M | $556.2M | ||
| Q2 25 | $538.6M | $609.2M | ||
| Q1 25 | $540.2M | $635.2M | ||
| Q4 24 | $514.8M | $656.9M | ||
| Q3 24 | $540.2M | $675.8M | ||
| Q2 24 | $560.7M | $639.8M | ||
| Q1 24 | $568.3M | $663.9M |
| Q4 25 | $771.0M | $932.1M | ||
| Q3 25 | $768.9M | $830.5M | ||
| Q2 25 | $775.5M | $883.8M | ||
| Q1 25 | $801.6M | $907.5M | ||
| Q4 24 | $756.4M | $944.1M | ||
| Q3 24 | $707.6M | $948.9M | ||
| Q2 24 | $753.6M | $916.8M | ||
| Q1 24 | $631.7M | $923.2M |
| Q4 25 | 0.17× | 0.16× | ||
| Q3 25 | — | 0.19× | ||
| Q2 25 | — | 0.18× | ||
| Q1 25 | — | 0.18× | ||
| Q4 24 | — | 0.18× | ||
| Q3 24 | — | 0.17× | ||
| Q2 24 | — | 0.18× | ||
| Q1 24 | — | 0.16× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $75.2M | $-22.9M |
| Free Cash FlowOCF − Capex | — | $-23.9M |
| FCF MarginFCF / Revenue | — | -43.4% |
| Capex IntensityCapex / Revenue | — | 1.8% |
| Cash ConversionOCF / Net Profit | 22.01× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-143.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $75.2M | $-22.9M | ||
| Q3 25 | $9.5M | $-26.8M | ||
| Q2 25 | $50.1M | $-29.9M | ||
| Q1 25 | $2.4M | $-45.7M | ||
| Q4 24 | $50.1M | $5.8M | ||
| Q3 24 | $-593.0K | $-63.4M | ||
| Q2 24 | $16.1M | $-37.1M | ||
| Q1 24 | $54.8M | $-58.3M |
| Q4 25 | — | $-23.9M | ||
| Q3 25 | — | $-32.1M | ||
| Q2 25 | — | $-35.2M | ||
| Q1 25 | $335.0K | $-52.8M | ||
| Q4 24 | $-98.5M | $-4.7M | ||
| Q3 24 | $-2.8M | $-76.8M | ||
| Q2 24 | $-126.7M | $-50.3M | ||
| Q1 24 | $54.6M | $-68.8M |
| Q4 25 | — | -43.4% | ||
| Q3 25 | — | -68.6% | ||
| Q2 25 | — | -94.0% | ||
| Q1 25 | 0.3% | -277.8% | ||
| Q4 24 | -201.8% | -9.5% | ||
| Q3 24 | -12.1% | -324.0% | ||
| Q2 24 | -490.5% | -224.5% | ||
| Q1 24 | 224.4% | -412.4% |
| Q4 25 | — | 1.8% | ||
| Q3 25 | — | 11.2% | ||
| Q2 25 | — | 14.1% | ||
| Q1 25 | 1.7% | 37.2% | ||
| Q4 24 | 304.4% | 21.4% | ||
| Q3 24 | 9.6% | 56.6% | ||
| Q2 24 | 553.0% | 58.9% | ||
| Q1 24 | 1.1% | 63.3% |
| Q4 25 | 22.01× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.10× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ACTG
| Energy Operations | $16.0M | 32% |
| Transportation Safety | $10.4M | 21% |
| Office Storage And Display Solutions | $8.4M | 17% |
| Printers Consumables And Parts | $6.5M | 13% |
| Natural Gas Reserves | $5.1M | 10% |
| Natural Gas Liquids Reserves | $3.3M | 7% |
FCEL
| Other | $30.0M | 55% |
| Electricity Generation | $12.2M | 22% |
| Services | $7.3M | 13% |
| Advanced Technologies | $5.5M | 10% |
