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Side-by-side financial comparison of Eos Energy Enterprises, Inc. (EOSE) and FUELCELL ENERGY INC (FCEL). Click either name above to swap in a different company.
Eos Energy Enterprises, Inc. is the larger business by last-quarter revenue ($58.0M vs $55.0M, roughly 1.1× FUELCELL ENERGY INC). FUELCELL ENERGY INC runs the higher net margin — -54.3% vs -207.7%, a 153.4% gap on every dollar of revenue. On growth, Eos Energy Enterprises, Inc. posted the faster year-over-year revenue change (699.6% vs 11.5%). FUELCELL ENERGY INC produced more free cash flow last quarter ($-23.9M vs $-75.2M).
Eos Energy Enterprises, Inc. is an energy storage solutions provider that designs, produces and deploys safe long-duration zinc-based battery systems. It serves utility, commercial, industrial and microgrid customers across North America, Europe and Asia, supporting grid stability and renewable energy integration.
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.
EOSE vs FCEL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $58.0M | $55.0M |
| Net Profit | $-120.5M | $-29.9M |
| Gross Margin | -93.8% | -12.1% |
| Operating Margin | -140.1% | -51.5% |
| Net Margin | -207.7% | -54.3% |
| Revenue YoY | 699.6% | 11.5% |
| Net Profit YoY | 55.1% | 27.9% |
| EPS (diluted) | $-0.53 | $-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 | $58.0M | $55.0M | ||
| Q3 25 | $30.5M | $46.7M | ||
| Q2 25 | $15.2M | $37.4M | ||
| Q1 25 | $10.5M | $19.0M | ||
| Q4 24 | $7.3M | $49.3M | ||
| Q3 24 | — | $23.7M | ||
| Q2 24 | — | $22.4M | ||
| Q1 24 | — | $16.7M |
| Q4 25 | $-120.5M | $-29.9M | ||
| Q3 25 | $-641.4M | $-91.7M | ||
| Q2 25 | $-222.9M | $-38.0M | ||
| Q1 25 | $15.1M | $-28.3M | ||
| Q4 24 | $-268.1M | $-41.4M | ||
| Q3 24 | — | $-32.7M | ||
| Q2 24 | — | $-32.1M | ||
| Q1 24 | — | $-19.8M |
| Q4 25 | -93.8% | -12.1% | ||
| Q3 25 | -111.2% | -11.0% | ||
| Q2 25 | -203.2% | -25.2% | ||
| Q1 25 | -234.7% | -27.4% | ||
| Q4 24 | -324.0% | -22.1% | ||
| Q3 24 | — | -26.2% | ||
| Q2 24 | — | -31.6% | ||
| Q1 24 | — | -70.2% |
| Q4 25 | -140.1% | -51.5% | ||
| Q3 25 | -200.6% | -204.0% | ||
| Q2 25 | -419.1% | -95.7% | ||
| Q1 25 | -506.2% | -172.9% | ||
| Q4 24 | -712.8% | -83.2% | ||
| Q3 24 | — | -141.9% | ||
| Q2 24 | — | -184.5% | ||
| Q1 24 | — | -254.5% |
| Q4 25 | -207.7% | -54.3% | ||
| Q3 25 | -2102.1% | -196.1% | ||
| Q2 25 | -1463.2% | -101.7% | ||
| Q1 25 | 144.7% | -149.1% | ||
| Q4 24 | -3696.7% | -84.0% | ||
| Q3 24 | — | -137.8% | ||
| Q2 24 | — | -143.4% | ||
| Q1 24 | — | -118.6% |
| Q4 25 | $-0.53 | $-0.43 | ||
| Q3 25 | $-4.91 | $-3.78 | ||
| Q2 25 | $-1.05 | $-1.79 | ||
| Q1 25 | $-0.20 | $-1.42 | ||
| Q4 24 | $-2.30 | $-2.29 | ||
| Q3 24 | — | $-1.99 | ||
| Q2 24 | — | $-2.18 | ||
| Q1 24 | — | $-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 | $568.0M | $278.1M |
| Total DebtLower is stronger | $813.3M | $103.8M |
| Stockholders' EquityBook value | $-2.2B | $662.2M |
| Total Assets | $885.2M | $932.1M |
| Debt / EquityLower = less leverage | — | 0.16× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $568.0M | $278.1M | ||
| Q3 25 | $58.7M | $174.7M | ||
| Q2 25 | $120.2M | $177.0M | ||
| Q1 25 | $82.6M | $208.4M | ||
| Q4 24 | $74.3M | $257.3M | ||
| Q3 24 | — | $267.2M | ||
| Q2 24 | — | $260.1M | ||
| Q1 24 | — | $297.5M |
| Q4 25 | $813.3M | $103.8M | ||
| Q3 25 | $448.5M | $106.4M | ||
| Q2 25 | $445.3M | $109.4M | ||
| Q1 25 | $325.5M | $112.3M | ||
| Q4 24 | $316.9M | $115.7M | ||
| Q3 24 | — | $112.7M | ||
| Q2 24 | — | $116.2M | ||
| Q1 24 | — | $107.2M |
| Q4 25 | $-2.2B | $662.2M | ||
| Q3 25 | $-2.3B | $556.2M | ||
| Q2 25 | $-1.1B | $609.2M | ||
| Q1 25 | $-942.2M | $635.2M | ||
| Q4 24 | $-1.1B | $656.9M | ||
| Q3 24 | — | $675.8M | ||
| Q2 24 | — | $639.8M | ||
| Q1 24 | — | $663.9M |
| Q4 25 | $885.2M | $932.1M | ||
| Q3 25 | $328.2M | $830.5M | ||
| Q2 25 | $361.0M | $883.8M | ||
| Q1 25 | $263.3M | $907.5M | ||
| Q4 24 | $260.3M | $944.1M | ||
| Q3 24 | — | $948.9M | ||
| Q2 24 | — | $916.8M | ||
| Q1 24 | — | $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 | $-50.3M | $-22.9M |
| Free Cash FlowOCF − Capex | $-75.2M | $-23.9M |
| FCF MarginFCF / Revenue | -129.7% | -43.4% |
| Capex IntensityCapex / Revenue | 43.1% | 1.8% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-265.0M | $-143.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-50.3M | $-22.9M | ||
| Q3 25 | $-65.9M | $-26.8M | ||
| Q2 25 | $-66.1M | $-29.9M | ||
| Q1 25 | $-28.9M | $-45.7M | ||
| Q4 24 | $-42.7M | $5.8M | ||
| Q3 24 | — | $-63.4M | ||
| Q2 24 | — | $-37.1M | ||
| Q1 24 | — | $-58.3M |
| Q4 25 | $-75.2M | $-23.9M | ||
| Q3 25 | $-82.7M | $-32.1M | ||
| Q2 25 | $-73.2M | $-35.2M | ||
| Q1 25 | $-33.8M | $-52.8M | ||
| Q4 24 | $-55.8M | $-4.7M | ||
| Q3 24 | — | $-76.8M | ||
| Q2 24 | — | $-50.3M | ||
| Q1 24 | — | $-68.8M |
| Q4 25 | -129.7% | -43.4% | ||
| Q3 25 | -271.1% | -68.6% | ||
| Q2 25 | -480.2% | -94.0% | ||
| Q1 25 | -323.6% | -277.8% | ||
| Q4 24 | -769.1% | -9.5% | ||
| Q3 24 | — | -324.0% | ||
| Q2 24 | — | -224.5% | ||
| Q1 24 | — | -412.4% |
| Q4 25 | 43.1% | 1.8% | ||
| Q3 25 | 55.2% | 11.2% | ||
| Q2 25 | 46.2% | 14.1% | ||
| Q1 25 | 47.0% | 37.2% | ||
| Q4 24 | 180.6% | 21.4% | ||
| Q3 24 | — | 56.6% | ||
| Q2 24 | — | 58.9% | ||
| Q1 24 | — | 63.3% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | -1.91× | — | ||
| 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
EOSE
Segment breakdown not available.
FCEL
| Other | $30.0M | 55% |
| Electricity Generation | $12.2M | 22% |
| Services | $7.3M | 13% |
| Advanced Technologies | $5.5M | 10% |
