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Side-by-side financial comparison of FUELCELL ENERGY INC (FCEL) and iQSTEL Inc (IQST). Click either name above to swap in a different company.
iQSTEL Inc is the larger business by last-quarter revenue ($84.2M vs $55.0M, roughly 1.5× FUELCELL ENERGY INC). iQSTEL Inc runs the higher net margin — -3.2% vs -54.3%, a 51.1% gap on every dollar of revenue. On growth, FUELCELL ENERGY INC posted the faster year-over-year revenue change (11.5% vs -14.9%). iQSTEL Inc produced more free cash flow last quarter ($-1.2M vs $-23.9M). Over the past eight quarters, FUELCELL ENERGY INC's revenue compounded faster (81.6% CAGR vs 28.0%).
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.
iQSTEL Inc is a technology holding company operating three core segments: telecommunications, Internet of Things (IoT), and fintech. It offers connectivity services, smart IoT monitoring solutions, and digital financial tools, mainly serving small and medium-sized enterprises and retail customers in North and South American markets.
FCEL vs IQST — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $55.0M | $84.2M |
| Net Profit | $-29.9M | $-2.7M |
| Gross Margin | -12.1% | 3.5% |
| Operating Margin | -51.5% | -2.9% |
| Net Margin | -54.3% | -3.2% |
| Revenue YoY | 11.5% | -14.9% |
| Net Profit YoY | 27.9% | -44.5% |
| EPS (diluted) | $-0.43 | $-0.92 |
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 | $84.2M | ||
| Q3 25 | $46.7M | $102.9M | ||
| Q2 25 | $37.4M | $72.2M | ||
| Q1 25 | $19.0M | $57.6M | ||
| Q4 24 | $49.3M | $98.9M | ||
| Q3 24 | $23.7M | $54.2M | ||
| Q2 24 | $22.4M | $78.6M | ||
| Q1 24 | $16.7M | $51.4M |
| Q4 25 | $-29.9M | $-2.7M | ||
| Q3 25 | $-91.7M | $-2.3M | ||
| Q2 25 | $-38.0M | $-2.3M | ||
| Q1 25 | $-28.3M | $-1.1M | ||
| Q4 24 | $-41.4M | $-1.9M | ||
| Q3 24 | $-32.7M | $-773.0K | ||
| Q2 24 | $-32.1M | $-2.0M | ||
| Q1 24 | $-19.8M | $-580.2K |
| Q4 25 | -12.1% | 3.5% | ||
| Q3 25 | -11.0% | 2.7% | ||
| Q2 25 | -25.2% | 2.6% | ||
| Q1 25 | -27.4% | 3.4% | ||
| Q4 24 | -22.1% | 2.7% | ||
| Q3 24 | -26.2% | 3.7% | ||
| Q2 24 | -31.6% | 2.8% | ||
| Q1 24 | -70.2% | 2.7% |
| Q4 25 | -51.5% | -2.9% | ||
| Q3 25 | -204.0% | -0.5% | ||
| Q2 25 | -95.7% | -0.9% | ||
| Q1 25 | -172.9% | -1.0% | ||
| Q4 24 | -83.2% | -0.3% | ||
| Q3 24 | -141.9% | -0.1% | ||
| Q2 24 | -184.5% | -0.4% | ||
| Q1 24 | -254.5% | -0.4% |
| Q4 25 | -54.3% | -3.2% | ||
| Q3 25 | -196.1% | -2.3% | ||
| Q2 25 | -101.7% | -3.3% | ||
| Q1 25 | -149.1% | -2.0% | ||
| Q4 24 | -84.0% | -1.9% | ||
| Q3 24 | -137.8% | -1.4% | ||
| Q2 24 | -143.4% | -2.5% | ||
| Q1 24 | -118.6% | -1.1% |
| Q4 25 | $-0.43 | $-0.92 | ||
| Q3 25 | $-3.78 | $-0.68 | ||
| Q2 25 | $-1.79 | $-0.82 | ||
| Q1 25 | $-1.42 | $-0.44 | ||
| Q4 24 | $-2.29 | $-1.19 | ||
| Q3 24 | $-1.99 | $-0.40 | ||
| Q2 24 | $-2.18 | $-0.90 | ||
| Q1 24 | $-1.37 | $-0.37 |
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 | $2.2M |
| Total DebtLower is stronger | $103.8M | $4.1M |
| Stockholders' EquityBook value | $662.2M | $16.3M |
| Total Assets | $932.1M | $51.1M |
| Debt / EquityLower = less leverage | 0.16× | 0.25× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $278.1M | $2.2M | ||
| Q3 25 | $174.7M | $2.3M | ||
| Q2 25 | $177.0M | $2.0M | ||
| Q1 25 | $208.4M | $1.1M | ||
| Q4 24 | $257.3M | $2.5M | ||
| Q3 24 | $267.2M | $2.1M | ||
| Q2 24 | $260.1M | $797.2K | ||
| Q1 24 | $297.5M | $2.7M |
| Q4 25 | $103.8M | $4.1M | ||
| Q3 25 | $106.4M | $2.7M | ||
| Q2 25 | $109.4M | $4.5M | ||
| Q1 25 | $112.3M | $3.5M | ||
| Q4 24 | $115.7M | $2.5M | ||
| Q3 24 | $112.7M | $3.2M | ||
| Q2 24 | $116.2M | $2.5M | ||
| Q1 24 | $107.2M | $194.0K |
| Q4 25 | $662.2M | $16.3M | ||
| Q3 25 | $556.2M | $17.9M | ||
| Q2 25 | $609.2M | $14.3M | ||
| Q1 25 | $635.2M | $11.6M | ||
| Q4 24 | $656.9M | $11.9M | ||
| Q3 24 | $675.8M | $8.1M | ||
| Q2 24 | $639.8M | $7.6M | ||
| Q1 24 | $663.9M | $8.4M |
| Q4 25 | $932.1M | $51.1M | ||
| Q3 25 | $830.5M | $46.9M | ||
| Q2 25 | $883.8M | $51.4M | ||
| Q1 25 | $907.5M | $42.0M | ||
| Q4 24 | $944.1M | $79.0M | ||
| Q3 24 | $948.9M | $32.4M | ||
| Q2 24 | $916.8M | $30.0M | ||
| Q1 24 | $923.2M | $22.1M |
| Q4 25 | 0.16× | 0.25× | ||
| Q3 25 | 0.19× | 0.15× | ||
| Q2 25 | 0.18× | 0.31× | ||
| Q1 25 | 0.18× | 0.31× | ||
| Q4 24 | 0.18× | 0.21× | ||
| Q3 24 | 0.17× | 0.40× | ||
| Q2 24 | 0.18× | 0.34× | ||
| Q1 24 | 0.16× | 0.02× |
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 | $-1.2M |
| Free Cash FlowOCF − Capex | $-23.9M | $-1.2M |
| FCF MarginFCF / Revenue | -43.4% | -1.5% |
| Capex IntensityCapex / Revenue | 1.8% | 0.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-143.9M | $-4.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-22.9M | $-1.2M | ||
| Q3 25 | $-26.8M | $-953.0K | ||
| Q2 25 | $-29.9M | $257.7K | ||
| Q1 25 | $-45.7M | $-1.9M | ||
| Q4 24 | $5.8M | $-403.7K | ||
| Q3 24 | $-63.4M | $625.0K | ||
| Q2 24 | $-37.1M | $-2.6M | ||
| Q1 24 | $-58.3M | $-536.9K |
| Q4 25 | $-23.9M | $-1.2M | ||
| Q3 25 | $-32.1M | $-969.2K | ||
| Q2 25 | $-35.2M | $211.7K | ||
| Q1 25 | $-52.8M | $-2.0M | ||
| Q4 24 | $-4.7M | $-421.3K | ||
| Q3 24 | $-76.8M | $594.5K | ||
| Q2 24 | $-50.3M | $-2.6M | ||
| Q1 24 | $-68.8M | $-608.5K |
| Q4 25 | -43.4% | -1.5% | ||
| Q3 25 | -68.6% | -0.9% | ||
| Q2 25 | -94.0% | 0.3% | ||
| Q1 25 | -277.8% | -3.4% | ||
| Q4 24 | -9.5% | -0.4% | ||
| Q3 24 | -324.0% | 1.1% | ||
| Q2 24 | -224.5% | -3.4% | ||
| Q1 24 | -412.4% | -1.2% |
| Q4 25 | 1.8% | 0.0% | ||
| Q3 25 | 11.2% | 0.0% | ||
| Q2 25 | 14.1% | 0.1% | ||
| Q1 25 | 37.2% | 0.1% | ||
| Q4 24 | 21.4% | 0.0% | ||
| Q3 24 | 56.6% | 0.1% | ||
| Q2 24 | 58.9% | 0.0% | ||
| Q1 24 | 63.3% | 0.1% |
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% |
IQST
| USA | $53.2M | 63% |
| Other | $29.9M | 35% |
| Switzerland | $1.1M | 1% |
