BE vs. FCEL

Last updated Jun 13, 2026

BE (Bloom Energy Corporation) and FCEL (FuelCell Energy, Inc.) are both stocks. Both operate in the Electrical Equipment & Parts industry within the Industrials sector. Over the past 5 years, BE returned 59.08%/yr vs -44.35%/yr for FCEL. At a 0.50 correlation, their price movements are largely independent.

Performance

BE vs. FCEL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bloom Energy Corporation (BE) and FuelCell Energy, Inc. (FCEL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BE achieves a 199.48% return, which is significantly higher than FCEL's 131.74% return.

BE

• 1D: 4.56%
• 1M: -10.19%
• YTD: 199.48%
• 6M: 173.97%
• 1Y: 1,069.53%
• 3Y*: 145.16%
• 5Y*: 59.08%
• 10Y*: —

FCEL

• 1D: -4.24%
• 1M: -14.96%
• YTD: 131.74%
• 6M: 93.38%
• 1Y: 168.04%
• 3Y*: -41.29%
• 5Y*: -44.35%
• 10Y*: -37.77%

*Multi-year figures are annualized to reflect compound growth (CAGR)

BE vs. FCEL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
BE Bloom Energy Corporation	199.48%	291.22%	50.07%	-22.59%	-12.81%	-23.48%	283.67%	-25.15%	-46.63%
FCEL FuelCell Energy, Inc.	131.74%	-19.14%	-81.17%	-42.45%	-46.54%	-53.45%	345.02%	-62.00%	-59.22%

Correlation

The correlation between BE and FCEL is 0.53, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.53
Correlation (3Y) Calculated over the trailing 3-year period	0.49
Correlation (5Y) Calculated over the trailing 5-year period	0.60
Correlation (All Time) Calculated using the full available price history since Jul 25, 2018	0.50

The correlation between BE and FCEL shifts across timeframes, from 0.49 (3 years) to 0.60 (5 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap BE : $83.19B FCEL : $918.56M
EPS BE : $0.02 FCEL : -$5.47
PS Ratio BE : 27.91 FCEL : 4.11
PB Ratio BE : 90.28 FCEL : 1.28
Total Revenue (TTM) BE : $2.45B FCEL : $167.88M
Gross Profit (TTM) BE : $761.91M FCEL : -$30.55M
EBITDA (TTM) BE : $88.83M FCEL : -$186.85M

Return for Risk

BE vs. FCEL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BE

BE Risk / Return Rank: 99
BE Sharpe Ratio Rank: 100
BE Sortino Ratio Rank: 98
BE Omega Ratio Rank: 97
BE Calmar Ratio Rank: 100
BE Martin Ratio Rank: 100

FCEL

FCEL Risk / Return Rank: 82
FCEL Sharpe Ratio Rank: 82
FCEL Sortino Ratio Rank: 85
FCEL Omega Ratio Rank: 79
FCEL Calmar Ratio Rank: 87
FCEL Martin Ratio Rank: 80

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BE vs. FCEL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bloom Energy Corporation (BE) and FuelCell Energy, Inc. (FCEL). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	BE	FCEL	Difference
Sharpe ratio: Return per unit of total volatility	10.05	1.41	+8.64
Sortino ratio: Return per unit of downside risk	4.90	2.51	+2.39
Omega ratio: Gain probability vs. loss probability	1.62	1.28	+0.34
Calmar ratio: Return relative to maximum drawdown	23.53	3.56	+19.97
Martin ratio: Return relative to average drawdown	73.01	5.79	+67.22

BE vs. FCEL - Sharpe Ratio Comparison

The current BE Sharpe Ratio is 10.05, which is higher than the FCEL Sharpe Ratio of 1.41. The chart below compares the historical Sharpe Ratios of BE and FCEL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BE vs. FCEL - Drawdown Comparison

The maximum BE drawdown since its inception was -92.54%, smaller than the maximum FCEL drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for BE and FCEL.

Drawdown Indicators

	BE	FCEL	Difference
Max Drawdown Largest peak-to-trough decline	-92.54%	-100.00%	+7.46%
Max Drawdown (1Y) Largest decline over 1 year	-45.94%	-47.51%	+1.57%
Max Drawdown (3Y) Largest decline over 3 years	-53.42%	-95.40%	+41.98%
Max Drawdown (5Y) Largest decline over 5 years	-75.87%	-98.89%	+23.02%
Max Drawdown (10Y) Largest decline over 10 years	—	-99.84%	—
Current Drawdown Current decline from peak	-15.48%	-99.99%	+84.51%
Average Drawdown Average peak-to-trough decline	-51.91%	-83.85%	+31.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.78%	29.13%	-14.35%

Volatility

BE vs. FCEL - Volatility Comparison

The current volatility for Bloom Energy Corporation (BE) is 27.74%, while FuelCell Energy, Inc. (FCEL) has a volatility of 53.94%. This indicates that BE experiences smaller price fluctuations and is considered to be less risky than FCEL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BE	FCEL	Difference
Volatility (1M) Calculated over the trailing 1-month period	27.74%	53.94%	-26.20%
Volatility (6M) Calculated over the trailing 6-month period	75.65%	92.15%	-16.50%
Volatility (1Y) Calculated over the trailing 1-year period	107.62%	120.44%	-12.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	85.95%	97.57%	-11.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	95.68%	122.75%	-27.07%

Dividends

BE vs. FCEL - Dividend Comparison

Neither BE nor FCEL has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both BE and FCEL in my portfolio?

BE and FCEL have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BE or FCEL?

FCEL has higher volatility (53.94%) compared to BE (27.74%). In terms of maximum drawdown, BE dropped -92.54% vs FCEL's -100.00%.

Which has better risk-adjusted returns?

BE currently has the higher Sharpe Ratio (10.05 vs 1.41), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.