FCELCAUTIOUS

FCEL EV/EBITDA Analysis

-14.8x

Updated 277h ago·SEC filings & market data

Key Takeaway

FCEL’s current EV/EBITDA of -14.8x means the company’s enterprise value (market cap plus debt minus cash) is negative relative to its earnings before interest, taxes, depreciation, and amortization — a negative ratio indicates the underlying EBITDA is also negative, so the firm is not generating positive operating earnings.

Sector Performance

4th percentile

FCEL

-14.8x

Sector Median

13.8x

Sector Avg

15.7x

Prior Period

-17.1x(Jul 2026)

↓ Declining

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Deep Analysis

This ratio sits far below the sector median of 13.6x, ranking in the 5th percentile among peer companies, meaning nearly all peers have a higher (and positive) multiple. The metric has been decreasing over the last eight quarters; year-over-year it plunged by -2040.6%, though quarter-over-quarter it improved by +13.4% (from -17.1x to -14.8x). The combination of a deeply negative valuation level and a long-term decreasing trend (despite the recent small QoQ recovery) points to elevated fundamental risk, as the company continues to destroy rather than generate EBITDA. This directly supports the overall CAUTIOUS verdict, because a negative and declining EV/EBITDA is a clear red flag for unprofitability and valuation compression.

Frequently Asked Questions

What does the EV/EBITDA tell investors about FCEL?

A valuation multiple preferred by analysts for capital-intensive or leveraged businesses. Useful for cross-sector comparisons where earnings can be distorted by debt.

How is the EV/EBITDA calculated?

EV/EBITDA is calculated as: Enterprise Value / EBITDA.

Who are FCEL's closest peers by EV/EBITDA?

The closest peers by EV/EBITDA include: EDIT (-2.2x), NIO (-36.8x), SNAP (-38.8x), RBLX (-39.0x), LI (-47.0x).

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Learn More About EV/EBITDA

EV/EBITDA Explained: The Valuation Metric Pro Investors Actually Use

Learn what EV/EBITDA is, why it beats P/E for capital-heavy companies, typical sector ranges, and key limitations every serious investor should know.

The Formula

Enterprise Value / EBITDA

Why It Matters

A valuation multiple preferred by analysts for capital-intensive or leveraged businesses. Useful for cross-sector comparisons where earnings can be distorted by debt.