Fuelcell Energy vs Ultralife
Ultralife is the larger business, with $191m of revenue in fiscal 2025 against $158m for Fuelcell Energy (1.2 times as much). Fuelcell Energy grew faster (41.0% against 16.2%). Ultralife kept more of each dollar of sales as profit: a net margin of -3.1% against -118.8%.
| Latest fiscal year | Fuelcell EnergyFCEL, 2025 | UltralifeULBI, 2025 |
|---|---|---|
| Revenue | $158m | $191m |
| Revenue growth | 41.0% | 16.2% |
| Net income | −$188m | −$5.9m |
| Operating margin | -121.6% | — |
| Net margin | -118.8% | -3.1% |
| Return on equity | -28.5% | -4.5% |
| Free cash flow | −$144m | $7.1m |
| Cash | $278m | $9.3m |
| Total debt | $120m | $49.7m |
| Debt to equity | 18.1% | — |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | — | — |
| Employees | 424 | 678 |
| Market value | $840m | $260m |
| Price vs our value range | — | Above our value range |
| Moat score | 16 (Weak) | 42 (Weak) |
| Insider trades, 12 months | 2 buys, 4 sales | 17 buys, 0 sales |