It is important to understand the maximum possible thermal efficiency a device is capable of obtaining and then what of this it actually achieves. In this paper it is shown that the thermal efficiency is a product of the voltage efficiency and the maximum possible thermal efficiency. One can mathematically demonstrate that for any elemental direct anodic oxidation reaction for a simple hybrid system, any fuel cell, and any operating temperature, any pressure, the maximum reversible work is equal to the free energy of reaction at the standard state. This is useful in defining an intrinsic fuel cell exergetic efficiency. An equation for thermal efficiency as a product of exergetic efficiency and maximum possible thermal efficiency is developed and presented for loosely integrated fuel cell turbine hybrids. From these simple studies alone one would conclude that the efficiency potential of fuel cells is expanded through simple fuel cell turbine hybrids.