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Side-by-side financial comparison of AerSale Corp (ASLE) and FUELCELL ENERGY INC (FCEL). Click either name above to swap in a different company.
AerSale Corp is the larger business by last-quarter revenue ($90.9M vs $55.0M, roughly 1.7× FUELCELL ENERGY INC). AerSale Corp runs the higher net margin — 5.9% vs -54.3%, a 60.2% gap on every dollar of revenue. On growth, FUELCELL ENERGY INC posted the faster year-over-year revenue change (11.5% vs -4.0%). AerSale Corp produced more free cash flow last quarter ($9.8M vs $-23.9M). Over the past eight quarters, FUELCELL ENERGY INC's revenue compounded faster (81.6% CAGR vs 0.2%).
AerSale, Inc. is a Doral, Florida-based global supplier of aftermarket commercial jet aircraft, engines, used materials, and aeronautical engineering services to passenger and cargo airlines, government, multinational original equipment manufacturers, and independent MROs. AerSale is a member of the Aircraft Fleet Recycling Association.
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.
ASLE vs FCEL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $90.9M | $55.0M |
| Net Profit | $5.4M | $-29.9M |
| Gross Margin | 34.1% | -12.1% |
| Operating Margin | 7.8% | -51.5% |
| Net Margin | 5.9% | -54.3% |
| Revenue YoY | -4.0% | 11.5% |
| Net Profit YoY | 99.7% | 27.9% |
| EPS (diluted) | $0.10 | $-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 | $90.9M | $55.0M | ||
| Q3 25 | $71.2M | $46.7M | ||
| Q2 25 | $107.4M | $37.4M | ||
| Q1 25 | $65.8M | $19.0M | ||
| Q4 24 | $94.7M | $49.3M | ||
| Q3 24 | $82.7M | $23.7M | ||
| Q2 24 | $77.1M | $22.4M | ||
| Q1 24 | $90.5M | $16.7M |
| Q4 25 | $5.4M | $-29.9M | ||
| Q3 25 | $-120.0K | $-91.7M | ||
| Q2 25 | $8.6M | $-38.0M | ||
| Q1 25 | $-5.3M | $-28.3M | ||
| Q4 24 | $2.7M | $-41.4M | ||
| Q3 24 | $509.0K | $-32.7M | ||
| Q2 24 | $-3.6M | $-32.1M | ||
| Q1 24 | $6.3M | $-19.8M |
| Q4 25 | 34.1% | -12.1% | ||
| Q3 25 | 30.2% | -11.0% | ||
| Q2 25 | 32.9% | -25.2% | ||
| Q1 25 | 27.3% | -27.4% | ||
| Q4 24 | 31.4% | -22.1% | ||
| Q3 24 | 28.6% | -26.2% | ||
| Q2 24 | 28.2% | -31.6% | ||
| Q1 24 | 31.8% | -70.2% |
| Q4 25 | 7.8% | -51.5% | ||
| Q3 25 | 4.0% | -204.0% | ||
| Q2 25 | 11.7% | -95.7% | ||
| Q1 25 | -10.1% | -172.9% | ||
| Q4 24 | 5.2% | -83.2% | ||
| Q3 24 | 2.4% | -141.9% | ||
| Q2 24 | -2.4% | -184.5% | ||
| Q1 24 | 5.2% | -254.5% |
| Q4 25 | 5.9% | -54.3% | ||
| Q3 25 | -0.2% | -196.1% | ||
| Q2 25 | 8.0% | -101.7% | ||
| Q1 25 | -8.0% | -149.1% | ||
| Q4 24 | 2.9% | -84.0% | ||
| Q3 24 | 0.6% | -137.8% | ||
| Q2 24 | -4.7% | -143.4% | ||
| Q1 24 | 6.9% | -118.6% |
| Q4 25 | $0.10 | $-0.43 | ||
| Q3 25 | $0.00 | $-3.78 | ||
| Q2 25 | $0.18 | $-1.79 | ||
| Q1 25 | $-0.10 | $-1.42 | ||
| Q4 24 | $0.05 | $-2.29 | ||
| Q3 24 | $0.01 | $-1.99 | ||
| Q2 24 | $-0.07 | $-2.18 | ||
| Q1 24 | $0.12 | $-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 | $4.4M | $278.1M |
| Total DebtLower is stronger | $1.3M | $103.8M |
| Stockholders' EquityBook value | $424.4M | $662.2M |
| Total Assets | $640.5M | $932.1M |
| Debt / EquityLower = less leverage | 0.00× | 0.16× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $4.4M | $278.1M | ||
| Q3 25 | $5.3M | $174.7M | ||
| Q2 25 | $5.7M | $177.0M | ||
| Q1 25 | $4.7M | $208.4M | ||
| Q4 24 | $4.7M | $257.3M | ||
| Q3 24 | $9.8M | $267.2M | ||
| Q2 24 | $4.3M | $260.1M | ||
| Q1 24 | $2.6M | $297.5M |
| Q4 25 | $1.3M | $103.8M | ||
| Q3 25 | $1.5M | $106.4M | ||
| Q2 25 | $907.0K | $109.4M | ||
| Q1 25 | $1.1M | $112.3M | ||
| Q4 24 | $1.2M | $115.7M | ||
| Q3 24 | $376.0K | $112.7M | ||
| Q2 24 | $522.0K | $116.2M | ||
| Q1 24 | $3.5M | $107.2M |
| Q4 25 | $424.4M | $662.2M | ||
| Q3 25 | $417.1M | $556.2M | ||
| Q2 25 | $415.9M | $609.2M | ||
| Q1 25 | $406.5M | $635.2M | ||
| Q4 24 | $455.6M | $656.9M | ||
| Q3 24 | $451.5M | $675.8M | ||
| Q2 24 | $449.8M | $639.8M | ||
| Q1 24 | $452.0M | $663.9M |
| Q4 25 | $640.5M | $932.1M | ||
| Q3 25 | $646.3M | $830.5M | ||
| Q2 25 | $646.7M | $883.8M | ||
| Q1 25 | $646.1M | $907.5M | ||
| Q4 24 | $604.7M | $944.1M | ||
| Q3 24 | $601.5M | $948.9M | ||
| Q2 24 | $598.7M | $916.8M | ||
| Q1 24 | $571.7M | $923.2M |
| Q4 25 | 0.00× | 0.16× | ||
| Q3 25 | 0.00× | 0.19× | ||
| Q2 25 | 0.00× | 0.18× | ||
| Q1 25 | 0.00× | 0.18× | ||
| Q4 24 | 0.00× | 0.18× | ||
| Q3 24 | 0.00× | 0.17× | ||
| Q2 24 | 0.00× | 0.18× | ||
| Q1 24 | 0.01× | 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 | $11.4M | $-22.9M |
| Free Cash FlowOCF − Capex | $9.8M | $-23.9M |
| FCF MarginFCF / Revenue | 10.8% | -43.4% |
| Capex IntensityCapex / Revenue | 1.7% | 1.8% |
| Cash ConversionOCF / Net Profit | 2.11× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-29.1M | $-143.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $11.4M | $-22.9M | ||
| Q3 25 | $-8.9M | $-26.8M | ||
| Q2 25 | $19.8M | $-29.9M | ||
| Q1 25 | $-45.2M | $-45.7M | ||
| Q4 24 | $37.5M | $5.8M | ||
| Q3 24 | $10.4M | $-63.4M | ||
| Q2 24 | $-15.3M | $-37.1M | ||
| Q1 24 | $-21.5M | $-58.3M |
| Q4 25 | $9.8M | $-23.9M | ||
| Q3 25 | $-9.8M | $-32.1M | ||
| Q2 25 | $18.6M | $-35.2M | ||
| Q1 25 | $-47.6M | $-52.8M | ||
| Q4 24 | $32.3M | $-4.7M | ||
| Q3 24 | $8.9M | $-76.8M | ||
| Q2 24 | $-18.9M | $-50.3M | ||
| Q1 24 | $-25.0M | $-68.8M |
| Q4 25 | 10.8% | -43.4% | ||
| Q3 25 | -13.8% | -68.6% | ||
| Q2 25 | 17.3% | -94.0% | ||
| Q1 25 | -72.4% | -277.8% | ||
| Q4 24 | 34.0% | -9.5% | ||
| Q3 24 | 10.7% | -324.0% | ||
| Q2 24 | -24.6% | -224.5% | ||
| Q1 24 | -27.7% | -412.4% |
| Q4 25 | 1.7% | 1.8% | ||
| Q3 25 | 1.3% | 11.2% | ||
| Q2 25 | 1.1% | 14.1% | ||
| Q1 25 | 3.7% | 37.2% | ||
| Q4 24 | 5.6% | 21.4% | ||
| Q3 24 | 1.9% | 56.6% | ||
| Q2 24 | 4.7% | 58.9% | ||
| Q1 24 | 3.9% | 63.3% |
| Q4 25 | 2.11× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 2.31× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 13.89× | — | ||
| Q3 24 | 20.52× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | -3.42× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ASLE
| Products | $57.8M | 64% |
| Maintenance | $23.2M | 26% |
| Leasing Arrangements | $9.9M | 11% |
FCEL
| Other | $30.0M | 55% |
| Electricity Generation | $12.2M | 22% |
| Services | $7.3M | 13% |
| Advanced Technologies | $5.5M | 10% |
