Fuel Tech, Inc. logo

Fuel Tech, Inc.

FTEK

NASDAQIndustrialsIndustrial - Pollution & Treatment Controls

Previous close

$1.39

+$0.01 · +0.72%

Aug 21, 4:00 PM ET

FTEK company overview

Regular session · ET · Market data may be delayed.

GoAI snapshot

AI-powered factor overview

Jul 10, 2026

GoAI score

Sell

Trim exposure — unfavorable risk-reward

Valuation

48

Fair Value

Momentum

40

Weakening

Sentiment

55

Mixed

Risk resilience

26

High Risk

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Company profile

Company website

Fuel Tech, Inc. engages in the development, commercialization, and application of technologies for air pollution control, process optimization, water treatment, and advanced engineering services to utility and industrial customers in the United States, rest of the Americas, Europe, South Africa, the Pacific Rim, and internationally. The Air Pollution Control Technology segment offers technologies to reduce nitrogen oxide emissions (NOx) in flue gas from boilers, incinerators, furnaces, and other stationary combustion sources; NOxOUT selected non-catalytic reduction and selected catalytic reduction systems, including ammonia injection grid and graduated straightening grid systems; electrostatic precipitator processes and services; ULTRA technology; urea direct injection systems; and flue gas conditioning systems. Its FUEL CHEM Technology segment provides chemical injection programs to improve the efficiency, reliability, fuel flexibility, boiler heat rate, and environmental status of combustion units for the control of slagging, fouling, corrosion, opacity, and acid plume, as well as the formation of sulfur trioxide, ammonium bisulfate, particulate matter, sulfur dioxide, and carbon dioxide through the addition of chemicals into the furnace using targeted in-furnace injection technology. This segment also offers its FUEL CHEM program for plants operating in the electric utility, industrial, pulp and paper, waste-to-energy, and university and district heating markets; and the owners of boilers, furnaces, and other combustion units for treating a wide variety of solid and liquid fuels, including coal, heavy oil, black liquor, biomass, and municipal waste. In addition, the company provides dissolved gas infusion systems, which utilize a proprietary channel injector and a patented saturator that infuses oxygen, carbon dioxide, or other gases into water; and visualization software. Fuel Tech, Inc. was incorporated in 1987 and is headquartered in Warrenville, Illinois.

Industry
Industrial - Pollution & Treatment Controls
Sector
Industrials
Headquarters
US
CEO
Ramesh Nuggihalli
Listed since
Sep 7, 1993
Employees
77

Market position

Day range

Current $1.39

52-week range

Current $1.39

Open
$1.38
Previous close
$1.38
Volume
148.24K
0.49× average
Average volume
301.35K
Average daily volume
Market cap
43.32M USD
Beta
1.3
Market reference 1
50-day average
$1.5884
-12.49% below average
200-day average
$1.5246
-8.83% below average

Financials

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends56%29%2%-25%Gross margin, FY2021: 49.04%Gross margin, FY2022: 43.22%Gross margin, FY2023: 43.04%Gross margin, FY2024: 42.27%Gross margin, FY2025: 46.42%Operating margin, FY2021: -6.14%Operating margin, FY2022: -5.67%Operating margin, FY2023: -9.81%Operating margin, FY2024: -18.71%Operating margin, FY2025: -13.80%Net margin, FY2021: 0.22%Net margin, FY2022: -5.35%Net margin, FY2023: -5.68%Net margin, FY2024: -7.73%Net margin, FY2025: -8.71%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 49.04%. Gross margin FY2022 43.22%. Gross margin FY2023 43.04%. Gross margin FY2024 42.27%. Gross margin FY2025 46.42%. Operating margin FY2021 -6.14%. Operating margin FY2022 -5.67%. Operating margin FY2023 -9.81%. Operating margin FY2024 -18.71%. Operating margin FY2025 -13.80%. Net margin FY2021 0.22%. Net margin FY2022 -5.35%. Net margin FY2023 -5.68%. Net margin FY2024 -7.73%. Net margin FY2025 -8.71%.

Income trends

Revenue

26.68M USD+6.14%

Operating income

−3.68M USD+21.71%

Net income

−2.32M USD-19.61%
Income trends across reported periods30.26M USD17.55M USD4.83M USD−7.88M USDRevenue, FY2021: 24.26M USDRevenue, FY2022: 26.94M USDRevenue, FY2023: 27.08M USDRevenue, FY2024: 25.13M USDRevenue, FY2025: 26.68M USDOperating income, FY2021: −1.49M USDOperating income, FY2022: −1.53M USDOperating income, FY2023: −2.66M USDOperating income, FY2024: −4.7M USDOperating income, FY2025: −3.68M USDNet income, FY2021: 54K USDNet income, FY2022: −1.44M USDNet income, FY2023: −1.54M USDNet income, FY2024: −1.94M USDNet income, FY2025: −2.32M USDFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 24.26M USD. Revenue FY2022 26.94M USD. Revenue FY2023 27.08M USD. Revenue FY2024 25.13M USD. Revenue FY2025 26.68M USD. Operating income FY2021 −1.49M USD. Operating income FY2022 −1.53M USD. Operating income FY2023 −2.66M USD. Operating income FY2024 −4.7M USD. Operating income FY2025 −3.68M USD. Net income FY2021 54K USD. Net income FY2022 −1.44M USD. Net income FY2023 −1.54M USD. Net income FY2024 −1.94M USD. Net income FY2025 −2.32M USD.
Metric (USD)FY2025FY2024FY2023FY2022FY2021
Revenue26.68M USD25.13M USD27.08M USD26.94M USD24.26M USD
Cost of goods sold14.29M USD14.51M USD15.43M USD15.3M USD12.36M USD
Gross profit12.38M USD10.62M USD11.66M USD11.64M USD11.9M USD
Research and development2.01M USD1.56M USD1.51M USD895K USD1.33M USD
Selling, general, and administrative14.05M USD13.76M USD12.8M USD12.28M USD12.06M USD
Operating expenses16.06M USD15.33M USD14.31M USD13.17M USD13.39M USD
Interest income1.42M USD1.25M USD1.3M USD202K USD6K USD
Interest expense21K USD17K USD19K USD
Depreciation and amortization699K USD460K USD342K USD440K USD741K USD
Operating income−3.68M USD−4.7M USD−2.66M USD−1.53M USD−1.49M USD
Net income−2.32M USD−1.94M USD−1.54M USD−1.44M USD54K USD

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
22%
2 beats, 5 misses, 2 met estimates
Average EPS surprise
-9.22%
9 comparable reports
Latest EPS result
-0.04
Estimate -0.02 · Miss by 100.00%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates0.050-0.05-0.1Q1 '25MissQ2 '25MetQ3 '25BeatQ4 '25MetQ1 '26MissQ2 '26No estimateQ3 '26MissQ4 '26Estimate
Q1 2025, reported Mar 4, 2025: actual -0.06, estimate -0.03, surprise -100.00%, Miss. Q2 2025, reported May 12, 2025: actual -0.02, estimate -0.02, surprise 0.00%, Met estimate. Q3 2025, reported Aug 5, 2025: actual -0.02, estimate -0.03, surprise +33.33%, Beat. Q4 2025, reported Nov 4, 2025: actual 0.01, estimate 0.01, surprise 0.00%, Met estimate. Q1 2026, reported Mar 3, 2026: actual -0.04, estimate -0.03, surprise -33.33%, Miss. Q2 2026, reported May 5, 2026: actual -0.04, estimate —, surprise —, Comparison unavailable. Q3 2026, reported Aug 4, 2026: actual -0.04, estimate -0.02, surprise -100.00%, Miss. Q4 2026, reported Nov 3, 2026: actual —, estimate -0.01, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates8.01M7M5.99M4.98MQ1 '25MissQ2 '25MissQ3 '25MissQ4 '25BeatQ1 '26MissQ2 '26MissQ3 '26MissQ4 '26Estimate
Q1 2025, reported Mar 4, 2025: actual 5.28M USD, estimate 5.63M USD, surprise -6.16%, Miss. Q2 2025, reported May 12, 2025: actual 6.38M USD, estimate 6.64M USD, surprise -3.89%, Miss. Q3 2025, reported Aug 5, 2025: actual 5.56M USD, estimate 6.09M USD, surprise -8.68%, Miss. Q4 2025, reported Nov 4, 2025: actual 7.49M USD, estimate 7.47M USD, surprise +0.31%, Beat. Q1 2026, reported Mar 3, 2026: actual 7.25M USD, estimate 7.47M USD, surprise -2.95%, Miss. Q2 2026, reported May 5, 2026: actual 6.08M USD, estimate 7.62M USD, surprise -20.21%, Miss. Q3 2026, reported Aug 4, 2026: actual 6.49M USD, estimate 6.58M USD, surprise -1.41%, Miss. Q4 2026, reported Nov 3, 2026: actual —, estimate 7.7M USD, surprise —, Comparison unavailable.

Analyst ratings

Third-party consensus; not a GoAI recommendation.

Rating distribution

5 ratings
Strong buy00%
Buy240%
Hold360%
Sell00%
Strong sell00%

FTEK peers

ETFs holding FTEK

Funds reporting this stock among their holdings, ordered by reported position size.

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