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Side-by-side financial comparison of FUELCELL ENERGY INC (FCEL) and Navitas Semiconductor Corp (NVTS). Click either name above to swap in a different company.
FUELCELL ENERGY INC is the larger business by last-quarter revenue ($55.0M vs $8.6M, roughly 6.4× Navitas Semiconductor Corp). On growth, FUELCELL ENERGY INC posted the faster year-over-year revenue change (11.5% vs -38.7%). Over the past eight quarters, FUELCELL ENERGY INC's revenue compounded faster (81.6% CAGR vs -35.2%).
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.
Navitas Semiconductor Corp is a leading global semiconductor firm specializing in gallium nitride (GaN) power integrated circuits. Its high-efficiency, compact power solutions serve consumer electronics, electric vehicles, renewable energy, and industrial sectors, with clients spanning North America, Asia, and Europe.
FCEL vs NVTS — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $55.0M | $8.6M |
| Net Profit | $-29.9M | — |
| Gross Margin | -12.1% | 98.6% |
| Operating Margin | -51.5% | -260.6% |
| Net Margin | -54.3% | — |
| Revenue YoY | 11.5% | -38.7% |
| Net Profit YoY | 27.9% | — |
| EPS (diluted) | $-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.
| Q1 26 | — | $8.6M | ||
| Q4 25 | $55.0M | $7.3M | ||
| Q3 25 | $46.7M | $10.1M | ||
| Q2 25 | $37.4M | $14.5M | ||
| Q1 25 | $19.0M | $14.0M | ||
| Q4 24 | $49.3M | $18.0M | ||
| Q3 24 | $23.7M | $21.7M | ||
| Q2 24 | $22.4M | $20.5M |
| Q1 26 | — | — | ||
| Q4 25 | $-29.9M | $-31.8M | ||
| Q3 25 | $-91.7M | $-19.2M | ||
| Q2 25 | $-38.0M | $-49.1M | ||
| Q1 25 | $-28.3M | $-16.8M | ||
| Q4 24 | $-41.4M | $-39.9M | ||
| Q3 24 | $-32.7M | $-18.7M | ||
| Q2 24 | $-32.1M | $-22.3M |
| Q1 26 | — | 98.6% | ||
| Q4 25 | -12.1% | 38.1% | ||
| Q3 25 | -11.0% | 37.9% | ||
| Q2 25 | -25.2% | 16.1% | ||
| Q1 25 | -27.4% | 37.9% | ||
| Q4 24 | -22.1% | 12.4% | ||
| Q3 24 | -26.2% | 39.7% | ||
| Q2 24 | -31.6% | 39.0% |
| Q1 26 | — | -260.6% | ||
| Q4 25 | -51.5% | -567.3% | ||
| Q3 25 | -204.0% | -192.0% | ||
| Q2 25 | -95.7% | -149.4% | ||
| Q1 25 | -172.9% | -180.5% | ||
| Q4 24 | -83.2% | -216.9% | ||
| Q3 24 | -141.9% | -133.6% | ||
| Q2 24 | -184.5% | -152.1% |
| Q1 26 | — | — | ||
| Q4 25 | -54.3% | -436.1% | ||
| Q3 25 | -196.1% | -190.2% | ||
| Q2 25 | -101.7% | -338.7% | ||
| Q1 25 | -149.1% | -120.1% | ||
| Q4 24 | -84.0% | -221.7% | ||
| Q3 24 | -137.8% | -86.4% | ||
| Q2 24 | -143.4% | -109.1% |
| Q1 26 | — | — | ||
| Q4 25 | $-0.43 | $-0.14 | ||
| Q3 25 | $-3.78 | $-0.09 | ||
| Q2 25 | $-1.79 | $-0.25 | ||
| Q1 25 | $-1.42 | $-0.09 | ||
| Q4 24 | $-2.29 | $-0.22 | ||
| Q3 24 | $-1.99 | $-0.10 | ||
| Q2 24 | $-2.18 | $-0.12 |
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 | $221.0M |
| Total DebtLower is stronger | $103.8M | — |
| Stockholders' EquityBook value | $662.2M | $420.0M |
| Total Assets | $932.1M | $481.4M |
| Debt / EquityLower = less leverage | 0.16× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $221.0M | ||
| Q4 25 | $278.1M | $236.9M | ||
| Q3 25 | $174.7M | $150.6M | ||
| Q2 25 | $177.0M | $161.2M | ||
| Q1 25 | $208.4M | $75.1M | ||
| Q4 24 | $257.3M | $86.7M | ||
| Q3 24 | $267.2M | $98.3M | ||
| Q2 24 | $260.1M | $111.7M |
| Q1 26 | — | — | ||
| 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 26 | — | $420.0M | ||
| Q4 25 | $662.2M | $443.7M | ||
| Q3 25 | $556.2M | $371.0M | ||
| Q2 25 | $609.2M | $388.9M | ||
| Q1 25 | $635.2M | $341.8M | ||
| Q4 24 | $656.9M | $348.0M | ||
| Q3 24 | $675.8M | $380.8M | ||
| Q2 24 | $639.8M | $388.1M |
| Q1 26 | — | $481.4M | ||
| Q4 25 | $932.1M | $500.5M | ||
| Q3 25 | $830.5M | $430.2M | ||
| Q2 25 | $883.8M | $449.4M | ||
| Q1 25 | $907.5M | $370.8M | ||
| Q4 24 | $944.1M | $390.0M | ||
| Q3 24 | $948.9M | $419.4M | ||
| Q2 24 | $916.8M | $439.1M |
| Q1 26 | — | — | ||
| 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× | — |
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 | $-8.1M | ||
| Q3 25 | $-26.8M | $-10.0M | ||
| Q2 25 | $-29.9M | $-11.2M | ||
| Q1 25 | $-45.7M | $-13.5M | ||
| Q4 24 | $5.8M | $-10.2M | ||
| Q3 24 | $-63.4M | $-13.7M | ||
| Q2 24 | $-37.1M | $-15.1M |
| Q1 26 | — | — | ||
| Q4 25 | $-23.9M | $-8.2M | ||
| Q3 25 | $-32.1M | $-10.7M | ||
| Q2 25 | $-35.2M | $-11.9M | ||
| Q1 25 | $-52.8M | $-13.6M | ||
| Q4 24 | $-4.7M | $-10.8M | ||
| Q3 24 | $-76.8M | $-14.3M | ||
| Q2 24 | $-50.3M | $-17.9M |
| Q1 26 | — | — | ||
| Q4 25 | -43.4% | -111.8% | ||
| Q3 25 | -68.6% | -106.1% | ||
| Q2 25 | -94.0% | -82.2% | ||
| Q1 25 | -277.8% | -96.8% | ||
| Q4 24 | -9.5% | -59.8% | ||
| Q3 24 | -324.0% | -65.9% | ||
| Q2 24 | -224.5% | -87.3% |
| Q1 26 | — | — | ||
| Q4 25 | 1.8% | 0.7% | ||
| Q3 25 | 11.2% | 7.0% | ||
| Q2 25 | 14.1% | 4.7% | ||
| Q1 25 | 37.2% | 0.3% | ||
| Q4 24 | 21.4% | 3.1% | ||
| Q3 24 | 56.6% | 2.6% | ||
| Q2 24 | 58.9% | 13.4% |
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% |
NVTS
Segment breakdown not available.
