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Financial Analysis

Filing-based analysis. Market pricing is not included. Fundamentals from SEC filings; economic data from FRED and the BLS. About our data

Fundamentals

FUEL TECH, INC. FTEK

· Technology · Industrial & Commercial Fans & Blowers & Air Purifing Equip

FY2025 10-K, filed 2026-03-03
SEC EDGAR

Filing evidence summary

Mixed evidenceCoverage 4/5 core metrics

Flagged areas: Solvency & liquidity.

Backward-looking filed evidence under visible rules - not a rating, forecast or investment advice. Missing data is never scored.

Evidence signals

  • 2 filing risk checks flagged

    Flagged areas: Solvency & liquidity.

    Why this surfaced

    The full financial analysis shows each value, threshold, and sector limitation.

  • Revenue expanded

    Latest reported annual revenue changed +6.1% from the prior reported annual observation.

    Why this surfaced

    Direction threshold: above +2% constructive; below -2% caution; otherwise monitor. This is not labeled one-year growth when filing periods have a gap. Period end 2025-12-31.

  • Operating margin improved

    Operating margin changed +4.9 percentage points from the prior annual period.

    Why this surfaced

    Direction threshold: more than +1 percentage point constructive; below -1 point caution. Period end 2025-12-31.

  • Free cash flow turned positive

    Latest reported free cash flow was $2M.

    Why this surfaced

    Free cash flow = operating cash flow minus capital expenditures; positive is supporting evidence, not a valuation conclusion. Period end 2025-12-31.

Core trend metrics

Latest annual revenue growth
+6.1%
as of 2025-12-31
Latest annual operating margin
-13.8%
as of 2025-12-31
Free cash flow
$2M
as of 2025-12-31
ROIC snapshot
-7.8%
period varies

Hover a tile for its exact definition; the Statements tab carries per-cell filing citations.

Where to look next

Risk checks

2of 12 rule-based checks flagged
  • Solvency & liquidity

Financial movement

  • Cash→ flat
  • Long-term debt→ flat
  • Inventory→ flat
  • Receivables→ flat
  • Current assets→ flat

Source & freshness

Source
SEC EDGAR XBRL
Fetched
2026-09-06
Latest period end
2025-12-31
Filings
EDGAR ↗

Reported segment mix

figures as filed · share of the filed sum · change vs the prior period in the same filing
Fiscal year ending 2025-12-3110-K filed 2026-03-03prior period 2024-12-31 from the same filingView filing
By business segment
Revenue
  • FUELCHEM$17.8M
    66.6%
    +27.9% yoy
  • Air Pollution Control$8.91M
    33.4%
    -20.8% yoy
  • All Other Segments$0
    0.0%
    no prior

Members sum to the consolidated $26.7M for this period.

Operating income
  • All Other Segments-$16.1M
    436.4%
    +4.8% yoy
  • FUELCHEM$8.57M
    -232.8%
    +33.2% yoy
  • Air Pollution Control$3.81M
    -103.6%
    -9.0% yoy

Members sum to the consolidated -$3.68M for this period.

By geography
Revenue
  • United States$21M
    share n/a
    +18.1% yoy
  • Outside the United States$5.66M
    share n/a
    -22.9% yoy
  • Pacific Rim And Other Geographical Areas$2.39M
    share n/a
    +41.4% yoy
  • Europe$2.24M
    share n/a
    +4.3% yoy
  • Americas$707K
    share n/a
    -23.5% yoy
  • ZA$318K
    share n/a
    -87.6% yoy
  • China$0
    share n/a
    no prior

member sum exceeds the consolidated figure: this axis carries more than one breakdown, so shares are not computed.

Latest quarter
Quarter ending 2026-03-3110-Q filed 2026-05-05prior period 2025-03-31 from the same filingView filing
  • FUELCHEM$4.48M
    73.6%
    -11.9% yoy
  • Air Pollution Control$1.6M
    26.4%
    +23.1% yoy
  • All Other Segments$0
    0.0%
    no prior

Change is against the same quarter a year earlier, as reported in the same 10-Q.

Source: SEC DERA Financial Statement and Notes data sets. Dimensional XBRL facts on the business-segment, product/service and geographic axes; the engine keeps the accession of every figure. Descriptive and educational, not advice.

Peer percentiles

latest fiscal year ending 2025-12-31 · among 3,990 US-listed filers · 809 in Technology
MetricValuevs all filersvs sector
Revenue
latest fiscal-year revenue as filed
$27M
17thof 3,301
bottom third
15thof 777
bottom third
Revenue growth
latest fiscal-year revenue vs the prior fiscal year
6.1%
49thof 3,137
middle third
42ndof 743
middle third
Gross margin
gross profit ÷ revenue
46.4%
62ndof 1,603
middle third
52ndof 554
middle third
Operating margin
operating income ÷ revenue
-13.8%
29thof 2,819
bottom third
28thof 751
bottom third
Net margin
net income ÷ revenue
-8.7%
31stof 3,263
bottom third
31stof 769
bottom third
Free-cash-flow margin
(operating cash flow − |capex|) ÷ revenue
8.8%
63rdof 2,679
middle third
50thof 701
middle third
Return on equity
net income ÷ stockholders' equity (positive equity only)
-5.8%
37thof 3,576
middle third
35thof 719
middle third
Stock comp ÷ revenue
stock-based compensation ÷ revenue · lower is ranked higher
1.2%
62ndof 2,895
middle third
76thof 728
top third
Days sales outstanding
receivables ÷ revenue × 365 · lower is ranked higher
73 days
24thof 2,398
bottom third
34thof 711
middle third

Each filer's latest fiscal year as stored by the nightly crawl; fiscal year ends differ across the universe. A metric ranks only filers for which it is computable from filed facts. Ties split; a rank reads "better than N% of filers" in the metric's own direction. Descriptive and educational, not a rating.

Earnings quality

Not available for FTEK yet: Earnings-quality fields arrive with this issuer's next re-crawl (sec_screen_v6)..

Point-in-time ledger

Not available for FTEK yet: The point-in-time ledger arrives with this issuer's next re-crawl (sec_screen_v6)..

Notes by disclosure type

Not available for FTEK yet: no footnote text blocks on file for this filer in the ingested DERA files.

Fundamentals from SEC EDGAR. Scores, the DCF, and every model shown are educational analysis, not investment advice or price predictions.

Educational content only. Not financial advice. TrendNalysis provides educational and informational financial analysis built from public SEC filings and economic data (FRED, BLS). It is not financial, investment, tax, or legal advice and is not a recommendation to buy or sell any security. Market pricing is not currently included. Past performance does not guarantee future results. Always do your own research and consult a licensed financial professional before investing.