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Side-by-side financial comparison of Bank First Corp (BFC) 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 $44.9M, roughly 1.2× Bank First Corp). Bank First Corp runs the higher net margin — 45.8% vs -54.3%, a 100.1% gap on every dollar of revenue. On growth, Bank First Corp posted the faster year-over-year revenue change (12.1% vs 11.5%). Bank First Corp produced more free cash flow last quarter ($51.0M vs $-23.9M). Over the past eight quarters, FUELCELL ENERGY INC's revenue compounded faster (81.6% CAGR vs 9.1%).
First Horizon Corporation, formerly First Tennessee Bank, is a financial services company, founded in 1864, and based in Memphis, Tennessee. Through its banking subsidiary First Horizon Bank, it provides financial services through locations in 12 states across the Southeast, a region in which it is the fourth largest regional bank.
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.
BFC vs FCEL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $44.9M | $55.0M |
| Net Profit | $18.4M | $-29.9M |
| Gross Margin | — | -12.1% |
| Operating Margin | 51.0% | -51.5% |
| Net Margin | 45.8% | -54.3% |
| Revenue YoY | 12.1% | 11.5% |
| Net Profit YoY | 4.8% | 27.9% |
| EPS (diluted) | $1.87 | $-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 | $44.9M | $55.0M | ||
| Q3 25 | $44.2M | $46.7M | ||
| Q2 25 | $41.6M | $37.4M | ||
| Q1 25 | $43.1M | $19.0M | ||
| Q4 24 | $40.1M | $49.3M | ||
| Q3 24 | $40.8M | $23.7M | ||
| Q2 24 | $38.9M | $22.4M | ||
| Q1 24 | $37.7M | $16.7M |
| Q4 25 | $18.4M | $-29.9M | ||
| Q3 25 | $18.0M | $-91.7M | ||
| Q2 25 | $16.9M | $-38.0M | ||
| Q1 25 | $18.2M | $-28.3M | ||
| Q4 24 | $17.5M | $-41.4M | ||
| Q3 24 | $16.6M | $-32.7M | ||
| Q2 24 | $16.1M | $-32.1M | ||
| Q1 24 | $15.4M | $-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 | 51.0% | -51.5% | ||
| Q3 25 | 50.8% | -204.0% | ||
| Q2 25 | 49.7% | -95.7% | ||
| Q1 25 | 51.3% | -172.9% | ||
| Q4 24 | 54.4% | -83.2% | ||
| Q3 24 | 50.7% | -141.9% | ||
| Q2 24 | 51.0% | -184.5% | ||
| Q1 24 | 45.6% | -254.5% |
| Q4 25 | 45.8% | -54.3% | ||
| Q3 25 | 40.7% | -196.1% | ||
| Q2 25 | 40.5% | -101.7% | ||
| Q1 25 | 42.3% | -149.1% | ||
| Q4 24 | 49.3% | -84.0% | ||
| Q3 24 | 40.6% | -137.8% | ||
| Q2 24 | 41.3% | -143.4% | ||
| Q1 24 | 40.8% | -118.6% |
| Q4 25 | $1.87 | $-0.43 | ||
| Q3 25 | $1.83 | $-3.78 | ||
| Q2 25 | $1.71 | $-1.79 | ||
| Q1 25 | $1.82 | $-1.42 | ||
| Q4 24 | $1.75 | $-2.29 | ||
| Q3 24 | $1.65 | $-1.99 | ||
| Q2 24 | $1.59 | $-2.18 | ||
| Q1 24 | $1.51 | $-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 | $243.2M | $278.1M |
| Total DebtLower is stronger | — | $103.8M |
| Stockholders' EquityBook value | $643.8M | $662.2M |
| Total Assets | $4.5B | $932.1M |
| Debt / EquityLower = less leverage | — | 0.16× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $243.2M | $278.1M | ||
| Q3 25 | $126.2M | $174.7M | ||
| Q2 25 | $120.3M | $177.0M | ||
| Q1 25 | $300.9M | $208.4M | ||
| Q4 24 | $261.3M | $257.3M | ||
| Q3 24 | $204.4M | $267.2M | ||
| Q2 24 | $99.0M | $260.1M | ||
| Q1 24 | $83.4M | $297.5M |
| Q4 25 | — | $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 | $643.8M | $662.2M | ||
| Q3 25 | $628.1M | $556.2M | ||
| Q2 25 | $612.3M | $609.2M | ||
| Q1 25 | $648.4M | $635.2M | ||
| Q4 24 | $639.7M | $656.9M | ||
| Q3 24 | $628.9M | $675.8M | ||
| Q2 24 | $614.6M | $639.8M | ||
| Q1 24 | $609.3M | $663.9M |
| Q4 25 | $4.5B | $932.1M | ||
| Q3 25 | $4.4B | $830.5M | ||
| Q2 25 | $4.4B | $883.8M | ||
| Q1 25 | $4.5B | $907.5M | ||
| Q4 24 | $4.5B | $944.1M | ||
| Q3 24 | $4.3B | $948.9M | ||
| Q2 24 | $4.1B | $916.8M | ||
| Q1 24 | $4.1B | $923.2M |
| Q4 25 | — | 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 | $62.5M | $-22.9M |
| Free Cash FlowOCF − Capex | $51.0M | $-23.9M |
| FCF MarginFCF / Revenue | 113.6% | -43.4% |
| Capex IntensityCapex / Revenue | 25.5% | 1.8% |
| Cash ConversionOCF / Net Profit | 3.40× | — |
| TTM Free Cash FlowTrailing 4 quarters | $75.8M | $-143.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $62.5M | $-22.9M | ||
| Q3 25 | $15.5M | $-26.8M | ||
| Q2 25 | $11.9M | $-29.9M | ||
| Q1 25 | $6.2M | $-45.7M | ||
| Q4 24 | $65.8M | $5.8M | ||
| Q3 24 | $18.8M | $-63.4M | ||
| Q2 24 | $14.9M | $-37.1M | ||
| Q1 24 | $1.3M | $-58.3M |
| Q4 25 | $51.0M | $-23.9M | ||
| Q3 25 | $12.5M | $-32.1M | ||
| Q2 25 | $8.2M | $-35.2M | ||
| Q1 25 | $4.0M | $-52.8M | ||
| Q4 24 | $58.6M | $-4.7M | ||
| Q3 24 | $16.9M | $-76.8M | ||
| Q2 24 | $13.7M | $-50.3M | ||
| Q1 24 | $551.0K | $-68.8M |
| Q4 25 | 113.6% | -43.4% | ||
| Q3 25 | 28.2% | -68.6% | ||
| Q2 25 | 19.8% | -94.0% | ||
| Q1 25 | 9.3% | -277.8% | ||
| Q4 24 | 146.3% | -9.5% | ||
| Q3 24 | 41.5% | -324.0% | ||
| Q2 24 | 35.3% | -224.5% | ||
| Q1 24 | 1.5% | -412.4% |
| Q4 25 | 25.5% | 1.8% | ||
| Q3 25 | 6.7% | 11.2% | ||
| Q2 25 | 8.7% | 14.1% | ||
| Q1 25 | 5.0% | 37.2% | ||
| Q4 24 | 18.0% | 21.4% | ||
| Q3 24 | 4.5% | 56.6% | ||
| Q2 24 | 3.1% | 58.9% | ||
| Q1 24 | 2.1% | 63.3% |
| Q4 25 | 3.40× | — | ||
| Q3 25 | 0.86× | — | ||
| Q2 25 | 0.70× | — | ||
| Q1 25 | 0.34× | — | ||
| Q4 24 | 3.75× | — | ||
| Q3 24 | 1.13× | — | ||
| Q2 24 | 0.93× | — | ||
| Q1 24 | 0.09× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BFC
Segment breakdown not available.
FCEL
| Other | $30.0M | 55% |
| Electricity Generation | $12.2M | 22% |
| Services | $7.3M | 13% |
| Advanced Technologies | $5.5M | 10% |
