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Side-by-side financial comparison of FUELCELL ENERGY INC (FCEL) and Four Corners Property Trust, Inc. (FCPT). Click either name above to swap in a different company.
Four Corners Property Trust, Inc. is the larger business by last-quarter revenue ($78.2M vs $55.0M, roughly 1.4× FUELCELL ENERGY INC). Four Corners Property Trust, Inc. runs the higher net margin — 38.8% vs -54.3%, a 93.1% gap on every dollar of revenue. On growth, FUELCELL ENERGY INC posted the faster year-over-year revenue change (11.5% vs 9.4%). Over the past eight quarters, FUELCELL ENERGY INC's revenue compounded faster (81.6% CAGR vs 8.4%).
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.
Four Corners Property Trust, Inc. is a publicly traded real estate investment trust that acquires, owns, and manages a portfolio of high-quality net-leased commercial properties. Its assets are primarily restaurant and retail locations across the United States, with tenants largely operating in stable consumer-facing industry segments with proven operational performance.
FCEL vs FCPT — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $55.0M | $78.2M |
| Net Profit | $-29.9M | $30.4M |
| Gross Margin | -12.1% | — |
| Operating Margin | -51.5% | 55.3% |
| Net Margin | -54.3% | 38.8% |
| Revenue YoY | 11.5% | 9.4% |
| Net Profit YoY | 27.9% | 16.0% |
| EPS (diluted) | $-0.43 | $0.28 |
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.
| Q1 26 | — | $78.2M | ||
| Q4 25 | $55.0M | $75.7M | ||
| Q3 25 | $46.7M | $74.1M | ||
| Q2 25 | $37.4M | $72.8M | ||
| Q1 25 | $19.0M | $71.5M | ||
| Q4 24 | $49.3M | $68.3M | ||
| Q3 24 | $23.7M | $66.8M | ||
| Q2 24 | $22.4M | $66.5M |
| Q1 26 | — | $30.4M | ||
| Q4 25 | $-29.9M | $29.4M | ||
| Q3 25 | $-91.7M | $28.8M | ||
| Q2 25 | $-38.0M | $27.9M | ||
| Q1 25 | $-28.3M | $26.2M | ||
| Q4 24 | $-41.4M | $26.2M | ||
| Q3 24 | $-32.7M | $25.6M | ||
| Q2 24 | $-32.1M | $24.7M |
| Q1 26 | — | — | ||
| 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 26 | — | 55.3% | ||
| Q4 25 | -51.5% | — | ||
| Q3 25 | -204.0% | — | ||
| Q2 25 | -95.7% | — | ||
| Q1 25 | -172.9% | — | ||
| Q4 24 | -83.2% | — | ||
| Q3 24 | -141.9% | — | ||
| Q2 24 | -184.5% | — |
| Q1 26 | — | 38.8% | ||
| Q4 25 | -54.3% | 38.9% | ||
| Q3 25 | -196.1% | 38.9% | ||
| Q2 25 | -101.7% | 38.3% | ||
| Q1 25 | -149.1% | 36.6% | ||
| Q4 24 | -84.0% | 38.3% | ||
| Q3 24 | -137.8% | 38.3% | ||
| Q2 24 | -143.4% | 37.1% |
| Q1 26 | — | $0.28 | ||
| Q4 25 | $-0.43 | $0.27 | ||
| Q3 25 | $-3.78 | $0.28 | ||
| Q2 25 | $-1.79 | $0.28 | ||
| Q1 25 | $-1.42 | $0.26 | ||
| Q4 24 | $-2.29 | $0.27 | ||
| Q3 24 | $-1.99 | $0.27 | ||
| Q2 24 | $-2.18 | $0.27 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $278.1M | $29.6M |
| Total DebtLower is stronger | $103.8M | — |
| Stockholders' EquityBook value | $662.2M | $1.7B |
| Total Assets | $932.1M | $3.0B |
| Debt / EquityLower = less leverage | 0.16× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $29.6M | ||
| Q4 25 | $278.1M | $12.1M | ||
| Q3 25 | $174.7M | $6.7M | ||
| Q2 25 | $177.0M | $6.0M | ||
| Q1 25 | $208.4M | $22.3M | ||
| Q4 24 | $257.3M | $4.1M | ||
| Q3 24 | $267.2M | $44.5M | ||
| Q2 24 | $260.1M | $17.2M |
| Q1 26 | — | — | ||
| Q4 25 | $103.8M | $1.2B | ||
| Q3 25 | $106.4M | $1.2B | ||
| Q2 25 | $109.4M | $1.2B | ||
| Q1 25 | $112.3M | $1.2B | ||
| Q4 24 | $115.7M | $1.1B | ||
| Q3 24 | $112.7M | $1.1B | ||
| Q2 24 | $116.2M | $1.2B |
| Q1 26 | — | $1.7B | ||
| Q4 25 | $662.2M | $1.6B | ||
| Q3 25 | $556.2M | $1.5B | ||
| Q2 25 | $609.2M | $1.5B | ||
| Q1 25 | $635.2M | $1.4B | ||
| Q4 24 | $656.9M | $1.5B | ||
| Q3 24 | $675.8M | $1.4B | ||
| Q2 24 | $639.8M | $1.3B |
| Q1 26 | — | $3.0B | ||
| Q4 25 | $932.1M | $2.9B | ||
| Q3 25 | $830.5M | $2.8B | ||
| Q2 25 | $883.8M | $2.8B | ||
| Q1 25 | $907.5M | $2.7B | ||
| Q4 24 | $944.1M | $2.7B | ||
| Q3 24 | $948.9M | $2.6B | ||
| Q2 24 | $916.8M | $2.5B |
| Q1 26 | — | — | ||
| Q4 25 | 0.16× | 0.74× | ||
| Q3 25 | 0.19× | 0.79× | ||
| Q2 25 | 0.18× | 0.81× | ||
| Q1 25 | 0.18× | 0.84× | ||
| Q4 24 | 0.18× | 0.78× | ||
| Q3 24 | 0.17× | 0.84× | ||
| Q2 24 | 0.18× | 0.92× |
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 | $-22.9M | — |
| Free Cash FlowOCF − Capex | $-23.9M | — |
| FCF MarginFCF / Revenue | -43.4% | — |
| Capex IntensityCapex / Revenue | 1.8% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-143.9M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $-22.9M | $192.3M | ||
| Q3 25 | $-26.8M | $48.9M | ||
| Q2 25 | $-29.9M | $43.8M | ||
| Q1 25 | $-45.7M | $51.6M | ||
| Q4 24 | $5.8M | $144.1M | ||
| Q3 24 | $-63.4M | $43.4M | ||
| Q2 24 | $-37.1M | $39.7M |
| Q1 26 | — | — | ||
| Q4 25 | $-23.9M | — | ||
| Q3 25 | $-32.1M | — | ||
| Q2 25 | $-35.2M | — | ||
| Q1 25 | $-52.8M | — | ||
| Q4 24 | $-4.7M | — | ||
| Q3 24 | $-76.8M | — | ||
| Q2 24 | $-50.3M | — |
| Q1 26 | — | — | ||
| Q4 25 | -43.4% | — | ||
| Q3 25 | -68.6% | — | ||
| Q2 25 | -94.0% | — | ||
| Q1 25 | -277.8% | — | ||
| Q4 24 | -9.5% | — | ||
| Q3 24 | -324.0% | — | ||
| Q2 24 | -224.5% | — |
| Q1 26 | — | — | ||
| Q4 25 | 1.8% | — | ||
| Q3 25 | 11.2% | — | ||
| Q2 25 | 14.1% | — | ||
| Q1 25 | 37.2% | — | ||
| Q4 24 | 21.4% | — | ||
| Q3 24 | 56.6% | — | ||
| Q2 24 | 58.9% | — |
| Q1 26 | — | — | ||
| Q4 25 | — | 6.53× | ||
| Q3 25 | — | 1.70× | ||
| Q2 25 | — | 1.57× | ||
| Q1 25 | — | 1.97× | ||
| Q4 24 | — | 5.51× | ||
| Q3 24 | — | 1.70× | ||
| Q2 24 | — | 1.61× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FCEL
| Other | $30.0M | 55% |
| Electricity Generation | $12.2M | 22% |
| Services | $7.3M | 13% |
| Advanced Technologies | $5.5M | 10% |
FCPT
| Rental revenue | $69.8M | 89% |
| Restaurant revenue | $8.4M | 11% |
