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Side-by-side financial comparison of FUELCELL ENERGY INC (FCEL) and HIVE Digital Technologies Ltd. (HIVE). Click either name above to swap in a different company.
HIVE Digital Technologies Ltd. is the larger business by last-quarter revenue ($93.1M vs $55.0M, roughly 1.7× FUELCELL ENERGY INC). FUELCELL ENERGY INC runs the higher net margin — -54.3% vs -98.1%, a 43.8% gap on every dollar of revenue. On growth, HIVE Digital Technologies Ltd. posted the faster year-over-year revenue change (218.6% vs 11.5%). Over the past eight quarters, HIVE Digital Technologies Ltd.'s revenue compounded faster (102.2% CAGR vs 81.6%).
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.
Mastech Digital, Inc. is a digital transformation and information technology (IT) services company headquartered in Pittsburgh, Pennsylvania, providing services to corporations across North America, Middle East, Asian, and Japan.
FCEL vs HIVE — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $55.0M | $93.1M |
| Net Profit | $-29.9M | $-91.3M |
| Gross Margin | -12.1% | -27.1% |
| Operating Margin | -51.5% | — |
| Net Margin | -54.3% | -98.1% |
| Revenue YoY | 11.5% | 218.6% |
| Net Profit YoY | 27.9% | -234.0% |
| EPS (diluted) | $-0.43 | $-0.38 |
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 | $55.0M | $93.1M | ||
| Q3 25 | $46.7M | $87.3M | ||
| Q2 25 | $37.4M | $45.6M | ||
| Q1 25 | $19.0M | — | ||
| Q4 24 | $49.3M | $29.2M | ||
| Q3 24 | $23.7M | $22.6M | ||
| Q2 24 | $22.4M | $32.2M | ||
| Q1 24 | $16.7M | — |
| Q4 25 | $-29.9M | $-91.3M | ||
| Q3 25 | $-91.7M | $-15.8M | ||
| Q2 25 | $-38.0M | $35.0M | ||
| Q1 25 | $-28.3M | — | ||
| Q4 24 | $-41.4M | $68.2M | ||
| Q3 24 | $-32.7M | $80.0K | ||
| Q2 24 | $-32.1M | $-18.3M | ||
| Q1 24 | $-19.8M | — |
| Q4 25 | -12.1% | -27.1% | ||
| Q3 25 | -11.0% | 4.7% | ||
| Q2 25 | -25.2% | -13.6% | ||
| Q1 25 | -27.4% | — | ||
| Q4 24 | -22.1% | -43.7% | ||
| Q3 24 | -26.2% | -66.1% | ||
| Q2 24 | -31.6% | -7.4% | ||
| Q1 24 | -70.2% | — |
| 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 24 | -254.5% | — |
| Q4 25 | -54.3% | -98.1% | ||
| Q3 25 | -196.1% | -18.1% | ||
| Q2 25 | -101.7% | 76.8% | ||
| Q1 25 | -149.1% | — | ||
| Q4 24 | -84.0% | 233.2% | ||
| Q3 24 | -137.8% | 0.4% | ||
| Q2 24 | -143.4% | -56.7% | ||
| Q1 24 | -118.6% | — |
| Q4 25 | $-0.43 | $-0.38 | ||
| Q3 25 | $-3.78 | $-0.07 | ||
| Q2 25 | $-1.79 | $0.18 | ||
| Q1 25 | $-1.42 | — | ||
| Q4 24 | $-2.29 | $0.52 | ||
| Q3 24 | $-1.99 | $0.00 | ||
| Q2 24 | $-2.18 | $-0.17 | ||
| 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 | $278.1M | — |
| Total DebtLower is stronger | $103.8M | — |
| Stockholders' EquityBook value | $662.2M | $559.3M |
| Total Assets | $932.1M | $624.0M |
| Debt / EquityLower = less leverage | 0.16× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $278.1M | — | ||
| Q3 25 | $174.7M | — | ||
| Q2 25 | $177.0M | — | ||
| Q1 25 | $208.4M | — | ||
| Q4 24 | $257.3M | $40.5M | ||
| Q3 24 | $267.2M | $31.7M | ||
| Q2 24 | $260.1M | — | ||
| Q1 24 | $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 | $662.2M | $559.3M | ||
| Q3 25 | $556.2M | $624.6M | ||
| Q2 25 | $609.2M | $560.5M | ||
| Q1 25 | $635.2M | — | ||
| Q4 24 | $656.9M | $430.9M | ||
| Q3 24 | $675.8M | $275.5M | ||
| Q2 24 | $639.8M | $268.6M | ||
| Q1 24 | $663.9M | — |
| Q4 25 | $932.1M | $624.0M | ||
| Q3 25 | $830.5M | $693.0M | ||
| Q2 25 | $883.8M | $628.7M | ||
| Q1 25 | $907.5M | — | ||
| Q4 24 | $944.1M | $478.6M | ||
| Q3 24 | $948.9M | $334.7M | ||
| 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 | $-22.9M | $46.0M |
| 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.
| Q4 25 | $-22.9M | $46.0M | ||
| Q3 25 | $-26.8M | $-10.6M | ||
| Q2 25 | $-29.9M | $10.2M | ||
| Q1 25 | $-45.7M | — | ||
| Q4 24 | $5.8M | $-28.5M | ||
| Q3 24 | $-63.4M | $-2.2M | ||
| Q2 24 | $-37.1M | $-4.4M | ||
| Q1 24 | $-58.3M | — |
| Q4 25 | $-23.9M | — | ||
| Q3 25 | $-32.1M | — | ||
| Q2 25 | $-35.2M | — | ||
| Q1 25 | $-52.8M | — | ||
| Q4 24 | $-4.7M | $-55.5M | ||
| Q3 24 | $-76.8M | $-34.7M | ||
| Q2 24 | $-50.3M | — | ||
| Q1 24 | $-68.8M | — |
| Q4 25 | -43.4% | — | ||
| Q3 25 | -68.6% | — | ||
| Q2 25 | -94.0% | — | ||
| Q1 25 | -277.8% | — | ||
| Q4 24 | -9.5% | -189.9% | ||
| Q3 24 | -324.0% | -153.4% | ||
| Q2 24 | -224.5% | — | ||
| Q1 24 | -412.4% | — |
| Q4 25 | 1.8% | — | ||
| Q3 25 | 11.2% | — | ||
| Q2 25 | 14.1% | — | ||
| Q1 25 | 37.2% | — | ||
| Q4 24 | 21.4% | 92.5% | ||
| Q3 24 | 56.6% | 143.9% | ||
| Q2 24 | 58.9% | — | ||
| Q1 24 | 63.3% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 0.29× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | -0.42× | ||
| Q3 24 | — | -26.94× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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% |
HIVE
Segment breakdown not available.
