All three tenses have at least two readings, so the archetype blend applies as printed.
All nine metrics read as filed from the record.
What did they actually do?
Has it survived what it has been through?
3 warning events since 2017; the latest 2020-09-22.
From the record
Fuel Tech, Inc.'s filings since 2017 show 3 warning events: a notice about its exchange listing (8-K item 3.01, 3 times, the latest 2020-09-22) (its current reports).
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
What has it actually done, year after year?
-7.8% a year over 10 filed years; profitable in 1 of 10.
From the record
Fuel Tech, Inc.'s 10 filed years say what it did: revenue went from $55 million in fiscal 2016 to $27 million in fiscal 2025, down 7.8% a year; it rose in 5 of 9 years; the deepest fall was 60% from fiscal 2018 to fiscal 2020; net income was positive in 1 of 10 of those years (its annual reports).
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
How has it treated the people who own it?
Share count grew 0.7% a year. 0% of cash flow returned. Insiders: 0 sales, 2 purchases.
From the record
Over the 3 fiscal years to 2025-12-31, Fuel Tech, Inc.'s diluted share count grew about 0.7% a year, and dividends and buybacks returned about 0% of its operating cash flow over 3 years (its filed statements). Its officers and directors filed 0 sales and 2 purchases of their own stock on the open market in the year to 2026-09-30, buying about $14 thousand (their Form 4 filings).
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
What are they doing right now?
Is it financially healthy right now?
ROE -6%: lost 6¢ per shareholder dollar. Leverage 15%: owes 15¢ per asset dollar.
From the record
Return on equity: in the fiscal year ended 2025-12-31, Fuel Tech, Inc. lost about 6 cents for every dollar of shareholders' money, and gross profitability: its products earned about 26 cents per dollar of everything the company owns. Leverage: it owed about 15 cents per dollar of assets, and net share issuance: its share count grew 1.2% over the year (the filed statements).
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
How strong is its position in its industry?
bottom 16% of 63 in its family; net margin -8.7%.
From the record
Fuel Tech, Inc.'s standing among 63 graded names in its industry family: revenue of $27 million in fiscal 2025 ranks in the bottom 6% by size; a net margin of -8.7% ranks in the bottom 12%; revenue growth of -0.3% a year over the last 3 filed years ranks in the bottom 29% (its annual reports).
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
What are the people in charge doing?
bottom 35% of 55 in its family for leadership; chief executive since 2026.
From the record
Fuel Tech, Inc.'s leadership, from its insiders' filings and its current reports: the chief executive on the record is Nuggihalli, Ramesh (President & CEO, as filed), filing under that title since 2026-08-19, 3 months (bottom 1% of its family); the 7 officers and directors filing in the last fifteen months have been on the record a median of 19.9 years (top 1%); 9 officer or director changes were reported on Form 8-K since 2023-11-13, against the 7 people in charge now (bottom 6%; fewer changes for each person reads higher) (the Form 4 record, its Form 8-K reports). Years count from a person's first filing in the SEC's data sets, which begin in 2006, so each is a floor.
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
What are they set up to do next?
How much room does it have to grow?
top 21% of 63 in its family for room to expand.
From the record
Fuel Tech, Inc.'s room to grow, from the newest filed statements (fiscal 2025): cash of $12 million against no long-term debt tagged leaves 25.3% of its assets as net cash, top 4% of its family; cash from operations less capital spending is 8.8% of revenue (top 50%); a gross margin of 46.4% (top 14%); research spending of 7.5% of revenue (top 15%) (its annual report).
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
What could actually drive growth from here?
top 16% of 64 in its family for growth drivers.
From the record
Fuel Tech, Inc.'s growth drivers, from the filed years to fiscal 2025: revenue grew -0.3% a year over the last three filed years against -7.8% over all 10, speeding up (top 15% of its family); the newest year grew 6.1% (top 39%); research spending grew 31% a year (top 3%); capital spending grew 48.4% a year (top 6%) (its annual reports). Fuel Tech, Inc. reported 2 lines of business in fiscal 2025: FUELCHEM at $18 million (67%), Air Pollution Control at $9 million (33%); 1 of 2 grew against the year before (its annual report).
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
Did its newest year beat what its own record pointed to?
bottom 40% of 62 in its family for expectations against reality.
From the record
Fuel Tech, Inc.'s newest year against its own record: revenue of $27 million in fiscal 2025 came in 9.9% above the $24 million its prior three years' pace pointed to (top 38% of its family); net income of $2 million against a prior three-year average of $2 million (bottom 26%); a net margin of -8.7% against -6.3% before (bottom 31%) (its annual reports).
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made