Fuel Tech, Inc.

FTEK

$1.43

+2.88%

2026-09-03 16:00:01 EDT+$0.04

Industrials

Industrial - Pollution & Treatment Controls

NASDAQ

Active Trading

Fuel Tech, Inc. engages in the development, commercialization, and application of technologies for air pollution control, process optimization, water treatment, and advanced ...

Price Action of FTEK

$1.43

+2.88%+$0.04

High—

Low—

52W High-60.8%

Rel. vol—

Interval

Range3.1h

Volume—SMA5SMA10

—

Fuel Tech, Inc. is a global leader in advanced technologies for air pollution control and water treatment. The company operates through two primary segments: Air Pollution Control Technology and FUEL CHEM Technology. The Air Pollution Control segment provides solutions to reduce nitrogen oxide (NOx) emissions, including selective non-catalytic and catalytic ...Fuel Tech, Inc. is a global leader in advanced technologies for air pollution control and water treatment. The company operates through two primary segments: Air Pollution Control Technology and FUEL CHEM Technology. The Air Pollution Control segment provides solutions to reduce nitrogen oxide (NOx) emissions, including selective non-catalytic and catalytic reduction systems, as well as flue gas conditioning. The FUEL CHEM segment offers chemical injection programs that improve boiler efficiency, reliability, and fuel flexibility while reducing harmful emissions like sulfur trioxide and particulate matter. They also provide dissolved gas infusion systems for water treatment and visualization software. With a highly educated workforce, over a quarter holding advanced degrees, the company focuses on sustainability and efficiency. Headquartered in Warrenville, Illinois, Fuel Tech serves markets in the Americas, Europe, South Africa, and the Pacific Rim. Despite recent financial challenges, including negative margins and a modest market cap of about $43.6 million, the company maintains a strong balance sheet with minimal debt and a current ratio of 5.1. Key personnel include CEO Vincent J. Arnone. The company remains committed to innovation, aiming to enable cleaner energy and efficient water use.ExpandCollapse

Founded

1987

Employees

CEO

Ramesh Nuggihalli

Full Name

Fuel Tech, Inc.

Sector

Industrials

Industry

Industrial - Pollution & Treatment Controls

ROE

-8.88%

Market Cap

$0.04B

Current Ratio

5.10

WACC

10.58%

ROIC

-13.90%

Contact Information

https://www.ftek.com

630 845 4500

27601 Bella Vista Parkway, Warrenville, IL 60555-1617

Key Metrics of FTEK

Snapshot

Latest / TTM · 6 periods

Market Cap

$44.57M

ROCE

-12.0%

EV / EBITDA

-13.08x

-3.0% YoY

FCF Yield

-2.7%

-7.5% YoY

Cash Conversion Cycle

-7.3d

Current Ratio

5.10

Quick take

TTM —

No major risk flags in selected headline metrics.

Financial Highlights of FTEK

Profitability trend

Latest / TTM · 6 periods

Gross Margin

44.7%

Net Margin

-12.7%

P/E Ratio

-12.72x

n/a

Debt / Equity

0.01

n/a

Current Ratio

5.10

Dividend Yield

0.0%

Understanding

TTM —

Interest coverage is weak

Calendar of FTEK

Upcoming

Sep 30, 2026In 26 days
Q3 FY2026 · Estimated results
Est. EPS $-0.01 · Revenue $7.70M · 1 analysts
Dec 30, 2026
Q4 FY2026 · Estimated results
Est. EPS $-0.04 · Revenue $7.96M · 1 analysts
Dec 31, 2026
FY2026 · Estimated annual results
Est. EPS $-0.13 · Revenue $28.23M · 1 analysts
Dec 31, 2027
FY2027 · Estimated annual results
Est. EPS $-0.05 · Revenue $33.33M · 1 analysts

Recent history

Aug 4, 2026
Q2 FY2026 · Results reported
EPS $-0.04 · Revenue $6.49M
View filing
May 5, 2026
Q1 FY2026 · Results reported
EPS $-0.04 · Revenue $6.08M
View filing
Mar 3, 2026
FY2025 · Annual results
EPS $-0.08 · Revenue $26.68M
View filing
Nov 4, 2025
Q3 FY2025 · Results reported
EPS $0.01 · Revenue $7.49M
View filing
Aug 5, 2025
Q2 FY2025 · Results reported
EPS $-0.02 · Revenue $5.56M
View filing
May 12, 2025
Q1 FY2025 · Results reported
EPS $-0.02 · Revenue $6.38M
View filing

Financial Statements of FTEK

5Y Trend (Revenue, Earnings, FCF)

Metric	Latest	YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.	QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).	$26.7M	+6.1%	+6.7%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.	$-2.3M	-19.6%	+9.2%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.	+46.4%	+9.8%	-5.1%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).	-13.8%	+26.2%	+8.1%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.	-8.7%	-12.7%	+14.9%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.	$2.3M	+161.5%	+16.9%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.	+8.8%	+157.9%	+22.1%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.	1.5%	-2.5%	-1.3%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.	5.09x	+0.7%	-6.3%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.	$47.2M	-3.3%	-2.9%

Actual vs Estimate

A Dec 31Q Jun 30

Metric	Annual (A vs E)	Annual Surprise	Quarter (A vs E)	Quarter Surprise
EPS Surprise	-0.08 vs -0.06	-25.2%	-0.04 vs -0.02	-100.0%
Revenue Surprise	$26.7M vs $26.9M	-0.8%	$6.5M vs $6.6M	-1.4%

Insider Transactions of FTEK

Acquisitions (A)

Since Jun 4, 2025

Disposals (D)

Since Jun 4, 2025

Monthly shares of acquisitions/disposals with close price trend (shared daily price source)

Insider Trading Snapshot

Date	Executive	Title	Security	Side	Shares	Price
Sep 1, 2026	Nuggihalli Ramesh	officer: President & CEO	Common Stock	A	1,471	$1.36
Jul 31, 2026	Nuggihalli Ramesh	officer: President & CEO	Restricted Stock Units	—	300,000	—
Jun 4, 2026	BAILEY DOUGLAS G	director	Restricted Stock Units	A	15,000	—
Jun 4, 2026	Jones Sharon L	director	Restricted Stock Units	A	15,000	—
Jun 4, 2026	ZEITLER DENNIS L	director	Restricted Stock Units	A	15,000	—

Earnings Call Transcript of FTEK

1 transcript segments

Q2 2026

Unknown Speaker

Operator: Greetings. Welcome to the Fuel Tech, Inc. 2026 Second Quarter Financial Results Conference Call and Webcast. [Operator Instructions] Please note this conference is being recorded. I will now turn the conference over to Devin Sullivan, Managing Director of The Equity Group. You may begin. Devin Sullivan: Thank you, Jasmina, and good morning, everyone. Thank you for joining us today for Fuel Tech's 2026 Second Quarter Financial Results Conference Call. Yesterday after the close, we issued a press release, a copy of which is available at the company's website, www.ftek.com. Our speakers for today will be Vince Arnone, Chairman, President, and Chief Executive Officer, and Ellen Albrecht, the company's Chief Financial Officer. After prepared remarks, we will open the call for questions from our analysts and investors. Before turning things over to Vince, I'd like to remind everyone that matters discussed on this call, except for historical information, are forward-looking statements as defined in Section 21E of the Securities Exchange Act of 1934 as amended, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and reflect Fuel Tech's current expectations regarding future growth, the results of operations, cash flows, performance, and business prospects and opportunities, as well as assumptions made by and information currently available to our company's management. Fuel Tech has tried to identify forward-looking statements by using words such as anticipate, believe, plan, expect, estimate, intend, will, and similar expressions, but these words are not the exclusive means of identifying forward-looking statements. These statements are based on information currently available to Fuel Tech and are subject to various risks, uncertainties, and other factors, including but not limited to those discussed in Fuel Tech's Annual Report on Form 10-K in Item 1A under the caption of Risk Factors and subsequent filings under the Securities Exchange Act of 1934 as amended, which could cause Fuel Tech's actual growth, results of operations, financial condition, cash flows, performance, business prospects, and opportunities to differ materially from those expressed in or implied by these statements. Fuel Tech undertakes no obligation to update such factors or to publicly announce the results of any forward-looking statements contained herein to reflect future events, developments, or changed circumstances or for any other reasons. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including those detailed in the company's filings with the SEC. With that said, I'd now like to turn the call over to Vince Arnone. Vince, please go ahead. Vincent Arnone: Devin, good morning, and I'd like to thank everyone for joining us on the call today, and we apologize for the technical difficulties. Before I review our results, I want to acknowledge that, as announced last …

Leadership Team of FTEK

6 executives

Name	Title	Compensation	Gender	Year Born	Status
Vincent J. Arnone	Chairman, Chief Executive Officer & President	USD 449,734	Male	1964	Active
Ellen T. Albrecht	Vice President, Chief Financial Officer & Treasurer	USD 348,924	Female	1973	Active
William E. Cummings Jr.	Senior Vice President of Sales	USD 345,994	Male	1957	Active
William H. Sun	Vice President of International Business & Technologies	USD 140,943	—	1958	Active
Bradley W. Johnson	Vice President, General Counsel & Secretary	—	Male	1966	Active
Kevin R. Dougherty	Vice President of Business Development & Marketing	—	Male	1962	Active

Recent News of FTEK

Seeking Alpha8/5/2026Neutral

Fuel Tech, Inc. (FTEK) Q2 2026 Earnings Call Transcript

GlobeNewsWire8/4/2026Neutral

Fuel Tech Reports 2026 Second Quarter Financial Results

WARRENVILLE, Ill., Aug. 04, 2026 (GLOBE NEWSWIRE) -- Fuel Tech, Inc. (NASDAQ: FTEK), a technology company using advanced engineering processes to provide emissions control systems and water treatment technologies in utility and industrial applications, today reported financial results for the second quarter ended June 30, 2026 (“Q2 2026”).

GlobeNewsWire8/4/2026Neutral

Fuel Tech Appoints Ramesh Nuggihalli President and Chief Executive Officer

Seasoned Public Company Executive Brings 30+ Years of Global Experience Across Environmental Technologies, Power Generation, Water Infrastructure, and Industrial Process Markets

GlobeNewsWire7/29/2026Neutral

Fuel Tech Announces Air Pollution Control Contracts Valued at Approximately $2.6 Million

WARRENVILLE, Ill., July 29, 2026 (GLOBE NEWSWIRE) -- Fuel Tech, Inc. (NASDAQ: FTEK), a technology company using advanced engineering processes to provide emissions control systems and water treatment technologies in utility and industrial applications, today announced the award of two air pollution control (APC) contracts valued at approximately $2.6 million with industrial customers.

GlobeNewsWire7/21/2026Neutral

Fuel Tech Schedules 2026 Second Quarter Financial Results and Conference Call

WARRENVILLE, Ill., July 21, 2026 (GLOBE NEWSWIRE) -- Fuel Tech, Inc. (NASDAQ: FTEK), a technology company using advanced engineering processes to provide emissions control systems and water treatment technologies in utility and industrial applications, today announced that it will issue its financial results for the second quarter ended June 30, 2026 on Tuesday, August 4, 2026 after the close of the stock market.

Historical Employee Count of FTEK

Current

Change

+6.94%

Minimum

Maximum

Recent Filings

Report Date	Employees	Form Type	Filing Date	SEC Filing
Dec 31, 2025	77	10-K	Mar 3, 2026	View
Dec 31, 2024	72	10-K	Mar 4, 2025	View
Dec 31, 2023	72	10-K	Mar 11, 2024	View
Dec 31, 2022	66	10-K	Mar 7, 2023	View
Dec 31, 2021	73	10-K	Mar 8, 2022	View

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Fuel Tech, Inc.