# Fuel Tech Inc. (FTEK)

**Exchange:** NASDAQ  
**Sector:** Industrials  
**Market cap:** $41M  
**Price:** $1.34 (+3.08%)

> Fuel Tech Inc. is a prominent company specializing in advanced engineering solutions for optimizing combustion efficiency and emissions control in various industrial applications. The core focus of Fuel Tech lies in developing technologies that enhance the operation of a range of combustion systems and enable cost-effective regulatory compliance. The company serves a diverse array of sectors including utilities, industrial manufacturing, and chemical processing, offering products and services designed to improve air quality and operational efficiency. Fuel Tech's innovations are particularly crucial in industries where emission reductions and energy efficiency are critical regulatory and operational challenges. By providing pioneering solutions such as post-combustion nitrogen oxide reduction systems and fuel treatment products, Fuel Tech has established a significant presence in the environmental technology market. The company plays a vital role in helping industries meet stringent environmental regulations while optimizing their production processes.

## Income Statement (Annual, USD)

| Fiscal Year | Revenue | Gross Profit | Operating Income | Net Income | EPS (dil.) |
| --- | --- | --- | --- | --- | --- |
| 2025 | $27M | $12M | -$4M | -$2M | $-0.08 |
| 2024 | $25M | $11M | -$5M | -$2M | $-0.06 |
| 2023 | $27M | $12M | -$3M | -$2M | $-0.05 |
| 2022 | $27M | $12M | -$2M | -$1M | $-0.05 |
| 2021 | $24M | $12M | -$1M | $54,000 | $0.00 |
| 2020 | $23M | $11M | -$4M | -$4M | $-0.17 |

## Balance Sheet (Annual, USD)

| Fiscal Year | Total Assets | Total Liabilities | Equity | Cash | Long-term Debt |
| --- | --- | --- | --- | --- | --- |
| 2025 | $47M | $7M | $40M | $12M | $491,000 |
| 2024 | $49M | $7M | $42M | $9M | $548,000 |
| 2023 | $50M | $7M | $44M | $18M | $533,000 |
| 2022 | $50M | $5M | $45M | $23M | $66,000 |
| 2021 | $50M | $4M | $46M | $36M | $122,000 |
| 2020 | $30M | $8M | $22M | $11M | $2M |

## Cash Flow (Annual, USD)

| Fiscal Year | Operating Cash Flow | CapEx | Free Cash Flow |
| --- | --- | --- | --- |
| 2025 | $3M | -$674,000 | $2M |
| 2024 | -$3M | -$378,000 | -$4M |
| 2023 | -$547,000 | -$418,000 | $278,000 |
| 2022 | -$4M | -$206,000 | -$4M |
| 2021 | $4M | -$84,000 | $677,000 |
| 2020 | -$2M | -$247,000 | -$3M |

Source: [CompaniesByCap](https://companiesbycap.com/company/FTEK)