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Side-by-side financial comparison of AlTi Global, Inc. (ALTI) and FUELCELL ENERGY INC (FCEL). Click either name above to swap in a different company.
AlTi Global, Inc. is the larger business by last-quarter revenue ($86.6M vs $55.0M, roughly 1.6× FUELCELL ENERGY INC). AlTi Global, Inc. runs the higher net margin — -15.1% vs -54.3%, a 39.2% gap on every dollar of revenue. On growth, AlTi Global, Inc. posted the faster year-over-year revenue change (87.0% vs 11.5%). FUELCELL ENERGY INC produced more free cash flow last quarter ($-23.9M vs $-52.2M). Over the past eight quarters, FUELCELL ENERGY INC's revenue compounded faster (81.6% CAGR vs 30.6%).
Cristal Global is the world's second-largest producer of titanium dioxide and a leading producer of titanium chemicals. It was formed when The National Titanium Dioxide Company Ltd. combined with Millennium Chemicals. The headquarters are in Jeddah, Saudi Arabia. It is a significant shareholder in Bemax, the world’s 5th largest TiO2 feedstock producer.
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.
ALTI vs FCEL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $86.6M | $55.0M |
| Net Profit | $-13.1M | $-29.9M |
| Gross Margin | — | -12.1% |
| Operating Margin | -2.1% | -51.5% |
| Net Margin | -15.1% | -54.3% |
| Revenue YoY | 87.0% | 11.5% |
| Net Profit YoY | 75.6% | 27.9% |
| EPS (diluted) | — | $-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 | $86.6M | $55.0M | ||
| Q3 25 | $57.2M | $46.7M | ||
| Q2 25 | $53.1M | $37.4M | ||
| Q1 25 | $58.0M | $19.0M | ||
| Q4 24 | $46.3M | $49.3M | ||
| Q3 24 | $51.8M | $23.7M | ||
| Q2 24 | $49.5M | $22.4M | ||
| Q1 24 | $50.8M | $16.7M |
| Q4 25 | $-13.1M | $-29.9M | ||
| Q3 25 | $-84.1M | $-91.7M | ||
| Q2 25 | $-24.4M | $-38.0M | ||
| Q1 25 | $1.9M | $-28.3M | ||
| Q4 24 | $-53.8M | $-41.4M | ||
| Q3 24 | $-72.5M | $-32.7M | ||
| Q2 24 | $-6.4M | $-32.1M | ||
| Q1 24 | $29.7M | $-19.8M |
| Q4 25 | — | -12.1% | ||
| Q3 25 | — | -11.0% | ||
| Q2 25 | — | -25.2% | ||
| Q1 25 | — | -27.4% | ||
| Q4 24 | — | -22.1% | ||
| Q3 24 | — | -26.2% | ||
| Q2 24 | — | -31.6% | ||
| Q1 24 | — | -70.2% |
| Q4 25 | -2.1% | -51.5% | ||
| Q3 25 | -49.8% | -204.0% | ||
| Q2 25 | -56.7% | -95.7% | ||
| Q1 25 | -23.3% | -172.9% | ||
| Q4 24 | -42.7% | -83.2% | ||
| Q3 24 | -18.4% | -141.9% | ||
| Q2 24 | -30.2% | -184.5% | ||
| Q1 24 | -28.9% | -254.5% |
| Q4 25 | -15.1% | -54.3% | ||
| Q3 25 | -147.0% | -196.1% | ||
| Q2 25 | -45.9% | -101.7% | ||
| Q1 25 | 3.3% | -149.1% | ||
| Q4 24 | -116.1% | -84.0% | ||
| Q3 24 | -140.0% | -137.8% | ||
| Q2 24 | -12.9% | -143.4% | ||
| Q1 24 | 58.4% | -118.6% |
| Q4 25 | — | $-0.43 | ||
| Q3 25 | — | $-3.78 | ||
| Q2 25 | $-0.33 | $-1.79 | ||
| Q1 25 | $-0.04 | $-1.42 | ||
| Q4 24 | $-0.71 | $-2.29 | ||
| Q3 24 | $-0.88 | $-1.99 | ||
| Q2 24 | $-0.18 | $-2.18 | ||
| Q1 24 | $0.18 | $-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 | $41.2M | $278.1M |
| Total DebtLower is stronger | $883.0K | $103.8M |
| Stockholders' EquityBook value | $600.1M | $662.2M |
| Total Assets | $1.2B | $932.1M |
| Debt / EquityLower = less leverage | 0.00× | 0.16× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $41.2M | $278.1M | ||
| Q3 25 | $35.8M | $174.7M | ||
| Q2 25 | $42.4M | $177.0M | ||
| Q1 25 | $52.8M | $208.4M | ||
| Q4 24 | $64.4M | $257.3M | ||
| Q3 24 | $220.6M | $267.2M | ||
| Q2 24 | $60.0M | $260.1M | ||
| Q1 24 | $134.2M | $297.5M |
| Q4 25 | $883.0K | $103.8M | ||
| Q3 25 | $586.0K | $106.4M | ||
| Q2 25 | $673.0K | $109.4M | ||
| Q1 25 | — | $112.3M | ||
| Q4 24 | $0 | $115.7M | ||
| Q3 24 | $128.4M | $112.7M | ||
| Q2 24 | $164.0M | $116.2M | ||
| Q1 24 | $183.7M | $107.2M |
| Q4 25 | $600.1M | $662.2M | ||
| Q3 25 | $607.2M | $556.2M | ||
| Q2 25 | $685.4M | $609.2M | ||
| Q1 25 | $665.2M | $635.2M | ||
| Q4 24 | $658.4M | $656.9M | ||
| Q3 24 | $707.0M | $675.8M | ||
| Q2 24 | $540.2M | $639.8M | ||
| Q1 24 | $510.9M | $663.9M |
| Q4 25 | $1.2B | $932.1M | ||
| Q3 25 | $1.2B | $830.5M | ||
| Q2 25 | $1.2B | $883.8M | ||
| Q1 25 | $1.2B | $907.5M | ||
| Q4 24 | $1.3B | $944.1M | ||
| Q3 24 | $1.4B | $948.9M | ||
| Q2 24 | $1.3B | $916.8M | ||
| Q1 24 | $1.3B | $923.2M |
| Q4 25 | 0.00× | 0.16× | ||
| Q3 25 | 0.00× | 0.19× | ||
| Q2 25 | 0.00× | 0.18× | ||
| Q1 25 | — | 0.18× | ||
| Q4 24 | 0.00× | 0.18× | ||
| Q3 24 | 0.18× | 0.17× | ||
| Q2 24 | 0.30× | 0.18× | ||
| Q1 24 | 0.36× | 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 | $-51.4M | $-22.9M |
| Free Cash FlowOCF − Capex | $-52.2M | $-23.9M |
| FCF MarginFCF / Revenue | -60.3% | -43.4% |
| Capex IntensityCapex / Revenue | 0.9% | 1.8% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-143.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-51.4M | $-22.9M | ||
| Q3 25 | $-53.5M | $-26.8M | ||
| Q2 25 | $-19.9M | $-29.9M | ||
| Q1 25 | $-30.2M | $-45.7M | ||
| Q4 24 | $-50.7M | $5.8M | ||
| Q3 24 | $-4.9M | $-63.4M | ||
| Q2 24 | $-30.2M | $-37.1M | ||
| Q1 24 | $-15.5M | $-58.3M |
| Q4 25 | $-52.2M | $-23.9M | ||
| Q3 25 | — | $-32.1M | ||
| Q2 25 | $-20.0M | $-35.2M | ||
| Q1 25 | $-31.0M | $-52.8M | ||
| Q4 24 | $-58.2M | $-4.7M | ||
| Q3 24 | $-9.4M | $-76.8M | ||
| Q2 24 | $-31.2M | $-50.3M | ||
| Q1 24 | $-15.7M | $-68.8M |
| Q4 25 | -60.3% | -43.4% | ||
| Q3 25 | — | -68.6% | ||
| Q2 25 | -37.6% | -94.0% | ||
| Q1 25 | -53.4% | -277.8% | ||
| Q4 24 | -125.7% | -9.5% | ||
| Q3 24 | -18.2% | -324.0% | ||
| Q2 24 | -63.2% | -224.5% | ||
| Q1 24 | -30.9% | -412.4% |
| Q4 25 | 0.9% | 1.8% | ||
| Q3 25 | 0.0% | 11.2% | ||
| Q2 25 | 0.0% | 14.1% | ||
| Q1 25 | 1.3% | 37.2% | ||
| Q4 24 | 16.3% | 21.4% | ||
| Q3 24 | 8.7% | 56.6% | ||
| Q2 24 | 2.2% | 58.9% | ||
| Q1 24 | 0.4% | 63.3% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | -15.80× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | -0.52× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ALTI
| Management Advisory Fees | $51.1M | 59% |
| Other | $32.7M | 38% |
| Distributions From Investments | $2.9M | 3% |
FCEL
| Other | $30.0M | 55% |
| Electricity Generation | $12.2M | 22% |
| Services | $7.3M | 13% |
| Advanced Technologies | $5.5M | 10% |
