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Clean Energy Fuels (CLNE) Financials

Clean Energy Fuels logo
$1.56 -0.01 (-0.64%)
Closing price 10/2/2026 04:00 PM Eastern
Extended Trading
$1.58 +0.01 (+0.96%)
As of 10/2/2026 07:49 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
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Annual Income Statements for Clean Energy Fuels

Annual Income Statements for Clean Energy Fuels

This table shows Clean Energy Fuels' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -134 -12 -79 -3.79 20 -9.86 -93 -59 -99 -83 -222
Consolidated Net Income / (Loss)		 -135 -14 -81 -9.18 13 -12 -94 -60 -100 -84 -223
Net Income / (Loss) Continuing Operations		 -135 -14 -81 -9.18 13 -12 -94 -60 -100 -84 -223
Total Pre-Tax Income 		-134 -12 -83 -8.84 14 -11 -94 -59 -101 -81 -225
Total Operating Income		 -42 -18 -134 3.90 9.93 -9.84 -95 -52 -76 -36 -160
Total Gross Profit		 126 147 99 133 132 106 40 112 82 128 115
Total Revenue		 384 403 342 346 344 292 256 420 425 416 425
Operating Revenue		 384 403 342 346 344 292 256 420 425 416 425
Total Cost of Revenue		 258 256 243 213 212 185 216 308 344 288 310
Operating Cost of Revenue		 258 256 243 213 212 185 216 308 344 288 310
Total Operating Expenses		 167 165 233 130 122 116 135 164 158 165 275
Selling, General & Admin Expense		 112 106 96 77 73 69 90 109 112 112 112
Depreciation Expense		 55 59 57 52 50 48 45 55 46 45 99
Impairment Charge		 - - - - - - - 0.00 0.00 8.10 64
Total Other Income / (Expense), net		 -92 5.25 51 -13 4.19 -1.38 1.01 -7.66 -24 -45 -66
Interest Expense		 96 30 18 16 7.57 7.35 4.43 6.31 23 32 53
Interest & Investment Income		 0.03 35 -1.90 -1.03 2.32 1.88 0.65 -1.45 -1.36 -13 -15
Other Income / (Expense), net		 3.56 -0.31 71 4.22 9.45 4.09 4.79 0.10 0.17 0.11 2.45
Income Tax Expense		 1.61 1.34 -1.91 0.34 0.86 0.31 0.12 0.22 -0.42 2.69 -2.82
Net Income / (Loss) Attributable to Noncontrolling Interest		 -1.22 -1.57 -2.15 -5.39 -7.16 -1.67 -1.01 -0.86 -0.60 -0.62 -0.61
Basic Earnings per Share		 ($1.47) ($0.10) ($0.53) ($0.02) $0.10 ($0.05) ($0.44) ($0.26) ($0.45) ($0.37) ($1.01)
Weighted Average Basic Shares Outstanding		 91.61M 119.40M 150.43M 180.66M 204.57M 200.66M 213.12M 222.41M 222.90M 223.35M 220.65M
Diluted Earnings per Share		 ($1.47) ($0.10) ($0.53) ($0.02) $0.10 ($0.05) ($0.44) ($0.26) ($0.45) ($0.37) ($1.01)
Weighted Average Diluted Shares Outstanding		 91.61M 119.40M 150.43M 180.66M 205.99M 200.66M 213.12M 222.41M 222.90M 223.35M 220.65M
Weighted Average Basic & Diluted Shares Outstanding		 91.61M 119.40M 150.43M 180.66M 205.58M 199.22M 222.50M 222.73M 223.24M 223.61M 219.43M

Quarterly Income Statements for Clean Energy Fuels

This table shows Clean Energy Fuels' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Income / (Loss) Attributable to Common Shareholders		 -19 -18 -16 -18 -30 -135 -20 -24 -43 -12 -15
Consolidated Net Income / (Loss)		 -19 -19 -16 -18 -30 -135 -20 -24 -43 -13 -15
Net Income / (Loss) Continuing Operations		 -19 -19 -16 -18 -30 -135 -20 -24 -43 -13 -15
Total Pre-Tax Income 		-19 -19 -16 -18 -28 -138 -20 -24 -43 -13 -15
Total Operating Income		 -6.57 -9.31 -5.59 -8.53 -13 -126 -9.23 -14 -11 -2.90 -5.13
Total Gross Profit		 29 28 34 32 35 28 28 27 32 33 30
Total Revenue		 107 104 98 105 109 104 103 106 112 118 106
Operating Revenue		 107 104 98 105 109 104 103 106 112 118 106
Total Cost of Revenue		 78 76 64 73 75 76 74 79 81 85 76
Operating Cost of Revenue		 78 76 64 73 75 76 74 79 81 85 76
Total Operating Expenses		 36 37 40 40 47 154 37 41 42 36 35
Selling, General & Admin Expense		 25 26 28 29 28 27 27 26 31 25 25
Depreciation Expense		 11 11 11 11 11 62 9.96 15 12 11 11
Impairment Charge		 - 0.00 0.00 0.00 - 64 0.00 0.00 - 0.00 0.00
Total Other Income / (Expense), net		 -13 -9.48 -10 -9.74 -15 -12 -11 -10 -33 -9.61 -9.78
Interest Expense		 10 7.76 7.92 8.36 8.14 7.53 7.74 7.78 30 5.70 5.51
Interest & Investment Income		 -2.29 -1.82 -2.16 -1.42 -7.17 -4.15 -3.44 -4.65 -3.12 -4.26 -4.57
Other Income / (Expense), net		 0.08 0.10 -0.04 0.04 0.01 0.01 0.07 2.14 0.23 0.34 0.30
Income Tax Expense		 -0.26 -0.18 0.76 0.05 2.06 -2.93 0.07 0.08 -0.04 0.00 0.13
Net Income / (Loss) Attributable to Noncontrolling Interest		 -0.14 -0.17 -0.17 -0.15 -0.13 -0.06 -0.17 -0.18 -0.20 -0.12 -0.18
Basic Earnings per Share		 ($0.09) ($0.08) ($0.07) ($0.08) ($0.14) ($0.60) ($0.09) ($0.11) ($0.21) ($0.06) ($0.07)
Weighted Average Basic Shares Outstanding		 222.90M 223.21M 223.29M 223.43M 223.35M 223.67M 220.39M 219.29M 220.65M 219.67M 220.26M
Diluted Earnings per Share		 ($0.09) ($0.08) ($0.07) ($0.08) ($0.14) ($0.60) ($0.09) ($0.11) ($0.21) ($0.06) ($0.07)
Weighted Average Diluted Shares Outstanding		 222.90M 223.21M 223.29M 223.43M 223.35M 223.67M 220.39M 219.29M 220.65M 219.67M 220.26M
Weighted Average Basic & Diluted Shares Outstanding		 223.24M 223.26M 223.43M 223.46M 223.61M 220.98M 219.29M 219.30M 219.43M 220.22M 220.45M

Annual Cash Flow Statements for Clean Energy Fuels

This table details how cash moves in and out of Clean Energy Fuels' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 -49 -4.85 -5.91 -2.86 19 67 -14 26 -19 -15 66
Net Cash From Operating Activities		 -12 46 -4.32 38 12 61 41 67 44 65 86
Net Cash From Continuing Operating Activities		 -12 46 -4.32 38 12 61 41 67 44 65 86
Net Income / (Loss) Continuing Operations		 -135 -14 -81 -9.18 13 -12 -94 -60 -100 -84 -223
Consolidated Net Income / (Loss)		 -135 -14 -81 -9.18 13 -12 -94 -60 -100 -84 -223
Depreciation Expense		 55 59 57 52 50 48 45 55 46 45 99
Amortization Expense		 3.03 1.53 0.85 -1.22 -0.73 -0.05 0.02 -1.71 -4.71 -1.57 12
Non-Cash Adjustments To Reconcile Net Income		 68 -20 22 8.82 -0.17 5.15 102 61 112 119 192
Changes in Operating Assets and Liabilities, net		 -2.52 19 -2.25 -12 -50 20 -12 12 -9.04 -14 5.55
Net Cash From Investing Activities		 -34 3.71 41 54 -1.50 24 -208 -149 -202 -78 63
Net Cash From Continuing Investing Activities		 -34 3.71 41 54 -1.50 24 -208 -149 -202 -78 63
Purchase of Property, Plant & Equipment		 -51 -24 -36 -25 -27 -13 -23 -45 -101 -65 -26
Purchase of Investments		 -159 -138 -340 -348 -171 -74 -324 -410 -491 -914 -855
Sale of Property, Plant & Equipment		 - 0.00 - 0.53 7.77 4.67 2.94 0.36 0.26 0.58 5.13
Sale and/or Maturity of Investments		 178 170 273 426 181 102 224 403 482 951 990
Other Investing Activities, net		 -2.63 -2.82 -2.82 0.52 0.61 0.38 -88 -101 -92 -50 -51
Net Cash From Financing Activities		 0.41 -56 -43 -95 7.69 -19 153 102 139 -1.94 -82
Net Cash From Continuing Financing Activities		 0.41 -56 -43 -95 7.69 -19 153 108 139 -1.94 -82
Repayment of Debt		 -6.32 -238 -55 -195 -7.92 -72 -53 -55 -161 -3.12 -72
Repurchase of Common Equity		 -0.88 -2.39 -9.49 -0.91 0.00 -15 -9.45 - 0.00 0.00 -7.94
Issuance of Debt		 0.42 81 10 17 15 66 5.85 162 300 0.00 0.00
Issuance of Common Equity		 7.20 104 11 83 0.31 1.68 204 1.37 0.24 0.06 -0.04
Other Financing Activities, net		 - - - - 0.00 0.00 5.46 0.25 -0.66 1.12 -2.58
Other Net Changes in Cash		 - 0.88 0.89 - 0.14 0.20 0.01 - - - -0.32
Cash Interest Paid		 38 30 17 17 6.79 5.62 3.91 1.87 16 27 15
Cash Income Taxes Paid		 0.89 1.01 0.34 0.26 0.04 0.01 0.02 0.07 0.08 0.06 0.04

Quarterly Cash Flow Statements for Clean Energy Fuels

This table details how cash moves in and out of Clean Energy Fuels' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Change in Cash & Equivalents		 80 -16 34 -6.14 -27 29 14 49 -25 -100 1.50
Net Cash From Operating Activities		 43 2.59 19 21 22 23 36 13 13 -8.36 29
Net Cash From Continuing Operating Activities		 43 2.59 19 21 22 23 36 13 13 -8.36 29
Net Income / (Loss) Continuing Operations		 -19 -19 -16 -18 -30 -135 -20 -24 -43 -13 -15
Consolidated Net Income / (Loss)		 -19 -19 -16 -18 -30 -135 -20 -24 -43 -13 -15
Depreciation Expense		 11 11 11 11 11 62 9.96 15 12 11 11
Amortization Expense		 -1.23 -0.95 -0.29 -0.10 -0.23 0.05 0.25 0.25 12 0.67 0.52
Non-Cash Adjustments To Reconcile Net Income		 36 24 26 27 43 95 29 29 38 20 21
Changes in Operating Assets and Liabilities, net		 17 -13 -1.70 1.52 -1.33 0.73 17 -6.48 -5.62 -28 12
Net Cash From Investing Activities		 -105 -20 16 -27 -47 7.40 -14 37 33 -90 -26
Net Cash From Continuing Investing Activities		 -105 -20 16 -27 -47 7.40 -14 37 33 -90 -26
Purchase of Property, Plant & Equipment		 -34 -18 -14 -21 -12 -7.49 -4.96 -6.62 -6.61 -6.89 -3.64
Purchase of Investments		 -157 -158 -251 -252 -254 -363 -158 -167 -167 -160 -230
Sale of Property, Plant & Equipment		 0.03 0.02 0.02 0.37 0.16 5.00 0.01 0.09 0.03 0.02 0.03
Sale and/or Maturity of Investments		 150 159 285 253 254 384 158 229 219 90 221
Other Investing Activities, net		 -65 -2.68 -4.58 -6.98 -36 -11 -9.55 -19 -12 -13 -13
Net Cash From Financing Activities		 142 1.83 -0.97 -0.95 -1.85 -1.92 -8.28 -0.77 -71 -1.95 -0.71
Net Cash From Continuing Financing Activities		 142 1.83 -0.97 -0.95 -1.85 -1.92 -8.28 -0.77 -71 -1.95 -0.71
Repayment of Debt		 -158 -0.91 -0.56 -0.39 -1.26 -0.26 -0.32 -0.30 -71 -0.34 -0.33
Other Financing Activities, net		 0.20 2.71 -0.41 -0.57 -0.61 -1.33 -0.41 -0.47 -0.37 -1.61 -0.38
Cash Interest Paid		 4.43 6.47 6.74 7.29 6.90 1.26 1.40 1.40 11 4.57 4.31
Cash Income Taxes Paid		 0.02 0.01 0.04 0.02 -0.01 0.00 0.02 0.02 0.00 -0.00 0.07

Annual Balance Sheets for Clean Energy Fuels

This table presents Clean Energy Fuels' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 1,001 897 792 699 777 715 957 1,082 1,259 1,244 1,057
Total Current Assets		 329 262 305 226 294 263 410 472 470 414 350
Cash & Equivalents		 44 36 - - - 109 99 126 107 92 158
Short-Term Investments		 103 74 141 66 57 30 130 140 158 128 0.55
Accounts Receivable		 134 101 83 84 147 85 112 108 116 122 107
Inventories, net		 29 30 35 35 30 28 31 37 45 43 44
Prepaid Expenses		 15 14 7.79 8.44 11 9.40 38 61 41 26 41
Plant, Property, & Equipment, net		 516 484 367 351 0.00 291 262 264 332 365 324
Total Noncurrent Assets		 155 152 120 123 483 161 285 347 458 465 382
Long-Term Investments		 20 20 52 26 26 28 110 193 259 265 262
Noncurrent Note & Lease Receivables		 - - - 17 32 27 56 30 36 38 22
Intangible Assets		 43 39 3.59 2.21 1.23 0.46 5.50 5.92 6.37 6.37 9.90
Other Noncurrent Operating Assets		 - - 0.00 13 360 41 50 53 92 91 88
Total Liabilities & Shareholders' Equity		 1,001 897 792 699 777 715 957 1,082 1,259 1,244 1,057
Total Liabilities		 672 404 342 174 234 192 202 355 526 524 492
Total Current Liabilities		 246 89 203 80 163 80 126 148 164 155 151
Short-Term Debt		 150 5.94 140 4.71 56 3.59 16 4.30 6.73 8.07 9.15
Accounts Payable		 27 24 18 19 27 17 24 44 57 33 26
Accrued Expenses		 59 53 42 48 68 53 75 90 92 106 96
Current Deferred Revenue		 11 7.04 3.43 7.36 7.34 2.64 7.25 5.97 4.94 6.87 18
Other Current Liabilities		 - - - 0.70 4.14 3.66 2.75 3.36 3.63 0.92 1.30
Total Noncurrent Liabilities		 425 314 139 94 71 112 76 207 362 370 340
Long-Term Debt		 417 306 - 75 33 82 23 145 261 265 227
Other Noncurrent Operating Liabilities		 7.90 7.92 19 19 36 28 53 61 101 104 114
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 329 494 450 525 543 523 755 727 734 720 565
Total Preferred & Common Equity		 303 469 427 508 533 514 747 720 727 713 559
Preferred Stock		 0.00 0.00 0.00 - 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 303 469 427 508 533 514 747 720 727 713 559
Common Stock		 915 1,090 1,111 1,199 1,203 1,192 1,520 1,554 1,658 1,730 1,797
Retained Earnings		 -592 -604 -684 -689 -668 -678 -771 -830 -929 -1,013 -1,235
Accumulated Other Comprehensive Income / (Loss)		 -21 -18 -0.89 -2.14 -1.57 -0.21 -1.62 -3.72 -2.12 -4.30 -2.99
Noncontrolling Interest		 26 25 23 17 9.62 9.34 8.34 7.48 6.88 6.26 5.65

Quarterly Balance Sheets for Clean Energy Fuels

This table presents Clean Energy Fuels' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026
Period end date 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026 6/30/2026
Total Assets		 1,070 1,046 1,065 1,236 1,246 1,244 1,117 1,116 1,125 1,037 1,026
Total Current Assets		 442 392 393 449 451 442 409 408 409 332 324
Cash & Equivalents		 0.00 0.00 0.00 91 125 119 121 134 183 58 59
Short-Term Investments		 55 139 149 159 126 127 108 109 51 71 81
Accounts Receivable		 128 102 124 107 117 123 107 91 104 117 102
Inventories, net		 38 39 40 49 49 46 46 45 44 43 43
Prepaid Expenses		 54 58 52 42 33 28 25 25 26 44 39
Plant, Property, & Equipment, net		 274 292 306 336 340 354 319 325 326 318 313
Total Noncurrent Assets		 354 362 366 451 455 448 389 383 390 386 389
Long-Term Investments		 192 197 194 254 250 251 259 256 263 270 276
Noncurrent Note & Lease Receivables		 31 31 27 36 35 33 37 35 34 21 19
Intangible Assets		 6.37 6.37 6.37 6.37 6.37 6.37 5.50 5.50 5.50 9.77 9.65
Other Noncurrent Operating Assets		 61 63 75 90 100 93 88 87 87 86 83
Total Liabilities & Shareholders' Equity		 1,070 1,046 1,065 1,236 1,246 1,244 1,117 1,116 1,125 1,037 1,026
Total Liabilities		 366 343 373 507 517 513 514 519 534 473 467
Total Current Liabilities		 152 128 146 143 142 144 145 144 152 135 131
Short-Term Debt		 0.04 0.04 0.04 8.91 7.72 7.83 0.05 8.37 8.76 9.39 9.64
Accounts Payable		 39 38 49 42 34 31 30 28 33 22 21
Accrued Expenses		 98 77 83 84 91 98 98 98 99 87 89
Current Deferred Revenue		 6.10 4.92 3.52 7.79 7.79 5.84 7.82 8.84 10 16 9.45
Other Current Liabilities		 8.94 8.82 10 0.88 1.92 1.81 9.06 1.02 1.13 1.25 1.19
Total Noncurrent Liabilities		 214 215 227 363 374 369 369 375 382 338 336
Long-Term Debt		 145 145 145 262 263 264 272 278 284 228 229
Other Noncurrent Operating Liabilities		 69 70 83 102 111 105 97 97 97 110 107
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 704 703 692 730 730 731 603 597 591 564 559
Total Preferred & Common Equity		 696 696 685 723 723 725 597 591 585 558 553
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 696 696 685 723 723 725 597 591 585 558 553
Common Stock		 1,568 1,582 1,599 1,674 1,691 1,710 1,749 1,761 1,780 1,808 1,820
Retained Earnings		 -869 -885 -911 -948 -964 -982 -1,148 -1,168 -1,192 -1,247 -1,262
Accumulated Other Comprehensive Income / (Loss)		 -3.02 -1.32 -3.28 -2.99 -3.54 -2.51 -4.35 -2.27 -3.20 -2.96 -4.86
Noncontrolling Interest		 7.34 7.16 7.02 6.70 6.53 6.38 6.19 6.03 5.84 5.53 5.35

Annual Metrics And Ratios for Clean Energy Fuels

This table displays calculated financial ratios and metrics derived from Clean Energy Fuels' official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -10.40% 4.77% -15.16% 1.41% -0.68% -15.21% -12.37% 64.35% 1.19% -2.19% 2.16%
EBITDA Growth		 131.31% 112.26% -114.44% 1,049.12% 16.22% -38.66% -207.58% 103.00% -2,712.52% 119.63% -770.57%
EBIT Growth		 15.31% 52.85% -254.73% 112.74% 138.85% -129.71% -1,468.07% 42.82% -47.71% 52.45% -334.28%
NOPAT Growth		 23.44% 57.63% -662.30% 102.90% 242.00% -173.90% -865.54% 45.60% -47.76% 52.42% -339.75%
Net Income Growth		 -49.09% 89.87% -493.06% 88.72% 244.39% -186.95% -716.68% 36.71% -67.98% 16.39% -166.03%
EPS Growth		 -53.13% 93.20% -430.00% 96.23% 600.00% -150.00% -780.00% 40.91% -73.08% 17.78% -172.97%
Operating Cash Flow Growth		 84.09% 482.67% -109.33% 979.82% -67.67% 397.12% -32.34% 61.58% -34.40% 47.52% 32.44%
Free Cash Flow Firm Growth		 81.69% 345.30% 123.03% -100.35% -3,040.33% 582.34% -253.87% 101.79% -8,159.84% 50.27% 128.42%
Invested Capital Growth		 -1.57% -7.64% -28.40% 0.64% 4.11% -11.46% 2.57% -8.24% 14.13% 6.40% -25.15%
Revenue Q/Q Growth		 -3.21% -4.17% -3.54% 2.04% 7.29% -13.28% 7.11% 5.48% -1.60% 0.60% 0.71%
EBITDA Q/Q Growth		 3.69% -53.11% 60.64% 87.54% 87.39% -49.16% -3.61% -86.34% 7.27% -42.83% 24.74%
EBIT Q/Q Growth		 1.64% -160.10% 15.52% 138.70% 238.18% -115.48% -0.61% -20.84% 5.72% -21.52% 1.53%
NOPAT Q/Q Growth		 20.98% -497.86% -9.55% 120.97% 162.57% -125.99% -4.08% -10.83% 5.66% -21.18% 1.37%
Net Income Q/Q Growth		 -60.39% 77.12% -43.19% 78.34% 161.83% -137.74% 0.27% -20.08% -6.68% -15.86% -6.16%
EPS Q/Q Growth		 -59.78% 83.61% -39.47% 91.30% 225.00% -129.41% 4.35% -23.81% -9.76% -15.63% -7.45%
Operating Cash Flow Q/Q Growth		 41.32% 39.59% -216.96% 35.21% -9.59% 0.40% 1.32% 66.07% 22.33% -24.65% -9.28%
Free Cash Flow Firm Q/Q Growth		 -22.28% 36.64% 1.80% -101.49% -308.26% 132.79% 0.11% 115.62% -26.01% 8.77% 166.25%
Invested Capital Q/Q Growth		 3.16% -0.71% -2.97% 5.21% 14.52% 0.31% -0.29% -3.51% 2.41% 0.28% -1.80%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 32.74% 36.53% 28.96% 38.54% 38.35% 36.44% 15.66% 26.76% 19.18% 30.86% 27.05%
EBITDA Margin		 5.25% 10.64% -1.81% 16.96% 19.84% 14.36% -17.62% 0.32% -8.30% 1.66% -10.93%
Operating Margin		 -10.83% -4.38% -39.36% 1.12% 2.89% -3.37% -37.18% -12.31% -17.97% -8.74% -37.63%
EBIT Margin		 -9.90% -4.46% -18.63% 2.34% 5.63% -1.97% -35.31% -12.28% -17.93% -8.72% -37.05%
Profit (Net Income) Margin		 -35.25% -3.41% -23.83% -2.65% 3.85% -3.95% -36.83% -14.18% -23.54% -20.12% -52.41%
Tax Burden Percent		 101.21% 110.81% 97.70% 103.86% 93.92% 102.75% 100.13% 100.37% 99.58% 103.32% 98.75%
Interest Burden Percent		 351.68% 69.02% 130.88% -109.01% 72.87% 194.93% 104.19% 115.03% 131.86% 223.46% 143.22%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 6.08% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 -3.99% -1.77% -16.39% 0.57% 1.89% -1.46% -14.77% -8.28% -11.94% -5.16% -25.19%
ROIC Less NNEP Spread (ROIC-NNEP)		 -35.86% -2.25% -3.99% 183.23% -7.53% 6.33% -0.14% -0.59% 4.56% 19.75% 30.71%
Return on Net Nonoperating Assets (RNNOA)		 -30.13% -1.57% -0.87% -2.45% 0.59% -0.71% 0.04% 0.24% -1.76% -6.35% -9.47%
Return on Equity (ROE)		 -34.12% -3.34% -17.26% -1.88% 2.48% -2.16% -14.73% -8.04% -13.70% -11.52% -34.66%
Cash Return on Invested Capital (CROIC)		 -2.40% 6.17% 16.71% -0.07% -2.13% 10.70% -17.31% 0.32% -25.13% -11.36% 3.58%
Operating Return on Assets (OROA)		 -3.52% -1.89% -7.54% 1.09% 2.62% -0.77% -10.80% -5.06% -6.51% -2.90% -13.68%
Return on Assets (ROA)		 -12.54% -1.45% -9.64% -1.23% 1.80% -1.55% -11.26% -5.84% -8.55% -6.69% -19.35%
Return on Common Equity (ROCE)		 -31.80% -3.13% -16.39% -1.81% 2.42% -2.12% -14.53% -7.95% -13.57% -11.41% -34.34%
Return on Equity Simple (ROE_SIMPLE)		 -44.77% -2.93% -19.06% -1.81% 2.49% -2.25% -12.60% -8.28% -13.77% -11.73% 0.00%
Net Operating Profit after Tax (NOPAT)		 -29 -12 -94 2.73 9.32 -6.89 -67 -36 -53 -25 -112
NOPAT Margin		 -7.58% -3.07% -27.55% 0.79% 2.71% -2.36% -26.03% -8.61% -12.58% -6.12% -26.34%
Net Nonoperating Expense Percent (NNEP)		 31.87% 0.48% -12.39% -182.66% 9.42% -7.79% -14.63% -7.69% -16.50% -24.92% -55.90%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - -4.13% -5.34% -2.56% -13.97%
Cost of Revenue to Revenue		 67.26% 63.47% 71.04% 61.46% 61.65% 63.56% 84.34% 73.24% 80.82% 69.14% 72.95%
SG&A Expenses to Revenue		 29.20% 26.20% 28.02% 22.29% 21.35% 23.49% 35.17% 26.05% 26.41% 26.89% 26.33%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 43.57% 40.91% 68.32% 37.41% 35.47% 39.82% 52.84% 39.06% 37.15% 39.60% 64.68%
Earnings before Interest and Taxes (EBIT)		 -38 -18 -64 8.11 19 -5.76 -90 -52 -76 -36 -157
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 20 43 -6.19 59 68 42 -45 1.35 -35 6.92 -46
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.08 0.83 0.72 0.69 0.90 3.03 1.83 1.61 1.18 0.79 0.82
Price to Tangible Book Value (P/TBV)		 1.94 1.16 0.85 0.79 1.02 3.47 2.02 1.78 1.30 0.87 0.84
Price to Revenue (P/Rev)		 0.85 0.97 0.90 1.01 1.39 5.34 5.35 2.75 2.01 1.35 1.08
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 23.46 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 4.26% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 1.03 0.88 0.75 0.67 0.89 3.35 2.36 2.04 1.27 0.70 0.74
Enterprise Value to Revenue (EV/Rev)		 1.95 1.47 1.05 0.94 1.30 5.11 4.21 2.04 1.42 0.86 0.66
Enterprise Value to EBITDA (EV/EBITDA)		 37.07 13.81 0.00 5.52 6.56 35.57 0.00 633.39 0.00 51.39 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 39.99 23.12 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 118.96 48.03 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 12.79 0.00 8.54 36.47 24.40 26.07 12.81 13.82 5.51 3.29
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 13.75 3.74 0.00 0.00 29.40 0.00 612.04 0.00 0.00 17.69
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 1.72 0.63 0.58 0.15 0.17 0.17 0.05 0.21 0.37 0.38 0.42
Long-Term Debt to Equity		 1.27 0.62 0.27 0.14 0.07 0.16 0.03 0.20 0.36 0.37 0.40
Financial Leverage		 0.84 0.69 0.22 -0.01 -0.08 -0.11 -0.30 -0.41 -0.39 -0.32 -0.31
Leverage Ratio		 2.72 2.31 1.79 1.53 1.38 1.40 1.31 1.38 1.60 1.72 1.79
Compound Leverage Factor		 9.57 1.59 2.34 -1.67 1.01 2.73 1.36 1.58 2.11 3.85 2.57
Debt to Total Capital		 63.29% 38.75% 36.65% 13.18% 14.43% 14.44% 4.98% 17.07% 26.74% 27.53% 29.45%
Short-Term Debt to Total Capital		 16.72% 0.74% 19.68% 0.78% 8.83% 0.59% 2.06% 0.49% 0.67% 0.81% 1.14%
Long-Term Debt to Total Capital		 46.57% 38.02% 16.96% 12.40% 5.61% 13.85% 2.92% 16.58% 26.07% 26.72% 28.31%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 2.95% 3.08% 3.19% 2.81% 1.52% 1.53% 1.05% 0.85% 0.69% 0.63% 0.70%
Common Equity to Total Capital		 33.76% 58.17% 60.16% 84.00% 84.05% 84.03% 93.97% 82.07% 72.57% 71.84% 69.85%
Debt to EBITDA		 28.10 7.29 -42.02 1.36 1.34 2.11 -0.88 110.94 -7.59 39.50 -5.08
Net Debt to EBITDA		 19.61 4.10 -4.79 -0.73 -0.60 -1.87 6.64 -228.91 7.26 -30.54 3.98
Long-Term Debt to EBITDA		 20.67 7.15 -19.45 1.28 0.52 2.02 -0.52 107.76 -7.40 38.33 -4.88
Debt to NOPAT		 -19.47 -25.30 -2.76 29.24 9.82 -12.80 -0.60 -4.14 -5.01 -10.74 -2.11
Net Debt to NOPAT		 -13.59 -14.23 -0.31 -15.64 -4.38 11.35 4.50 8.54 4.79 8.31 1.65
Long-Term Debt to NOPAT		 -14.32 -24.82 -1.28 27.51 3.82 -12.28 -0.35 -4.02 -4.88 -10.43 -2.03
Altman Z-Score		 -0.18 0.25 -0.35 0.61 0.75 4.23 3.25 1.47 0.37 -0.01 -0.94
Noncontrolling Interest Sharing Ratio		 6.80% 6.23% 5.03% 4.07% 2.49% 1.78% 1.38% 1.07% 0.98% 0.90% 0.93%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 1.34 2.93 1.50 2.81 1.81 3.29 3.26 3.18 2.87 2.67 2.32
Quick Ratio		 1.14 2.37 1.11 1.87 1.25 2.80 2.71 2.52 2.34 2.22 1.76
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -18 43 96 -0.33 -11 51 -78 1.40 -113 -56 16
Operating Cash Flow to CapEx		 -23.53% 195.80% -11.89% 153.57% 63.57% 709.78% 205.12% 151.12% 43.48% 100.25% 416.18%
Free Cash Flow to Firm to Interest Expense		 -0.18 1.45 5.41 -0.02 -1.39 6.90 -17.60 0.22 -4.91 -1.74 0.30
Operating Cash Flow to Interest Expense		 -0.13 1.56 -0.24 2.39 1.62 8.31 9.32 10.58 1.91 2.01 1.62
Operating Cash Flow Less CapEx to Interest Expense		 -0.66 0.77 -2.29 0.83 -0.93 7.14 4.78 3.58 -2.48 0.00 1.23
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.36 0.42 0.40 0.46 0.47 0.39 0.31 0.41 0.36 0.33 0.37
Accounts Receivable Turnover		 2.82 3.42 3.70 4.13 2.98 2.51 2.59 3.81 3.79 3.49 3.71
Inventory Turnover		 8.08 8.69 7.49 6.07 6.54 6.40 7.26 8.99 8.33 6.48 7.10
Fixed Asset Turnover		 0.75 0.81 0.80 0.97 0.00 0.00 0.93 1.60 1.43 1.19 1.23
Accounts Payable Turnover		 7.30 10.11 11.68 11.53 9.14 8.30 10.35 8.95 6.78 6.37 10.42
Days Sales Outstanding (DSO)		 129.40 106.82 98.60 88.30 122.56 145.20 140.86 95.70 96.29 104.52 98.50
Days Inventory Outstanding (DIO)		 45.18 42.02 48.72 60.18 55.80 57.06 50.28 40.59 43.81 56.34 51.43
Days Payable Outstanding (DPO)		 50.01 36.10 31.24 31.65 39.92 43.98 35.27 40.79 53.87 57.31 35.02
Cash Conversion Cycle (CCC)		 124.57 112.74 116.08 116.83 138.44 158.28 155.88 95.50 86.23 103.55 114.91
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 725 669 479 482 502 445 456 418 478 508 380
Invested Capital Turnover		 0.53 0.58 0.59 0.72 0.70 0.62 0.57 0.96 0.95 0.84 0.96
Increase / (Decrease) in Invested Capital		 -12 -55 -190 3.06 20 -58 11 -38 59 31 -128
Enterprise Value (EV)		 748 592 359 324 448 1,490 1,076 855 605 356 281
Market Capitalization		 326 391 307 350 479 1,558 1,368 1,157 854 561 461
Book Value per Share		 $3.34 $3.43 $2.83 $2.50 $2.61 $2.59 $3.35 $3.24 $3.26 $3.19 $2.55
Tangible Book Value per Share		 $1.85 $2.46 $2.38 $2.17 $2.29 $2.26 $3.04 $2.92 $2.94 $2.88 $2.51
Total Capital		 896 806 710 605 635 611 795 877 1,001 993 801
Total Debt		 567 312 260 80 92 88 40 150 268 273 236
Total Long-Term Debt		 417 306 120 75 36 85 23 145 261 265 227
Net Debt		 396 176 30 -43 -41 -78 -299 -309 -256 -211 -185
Capital Expenditures (CapEx)		 51 24 36 25 19 8.60 20 44 101 64 21
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 82 62 63 54 81 48 71 62 48 48 50
Debt-free Net Working Capital (DFNWC)		 233 178 241 150 187 187 300 328 313 267 208
Net Working Capital (NWC)		 83 173 102 145 131 183 284 324 306 259 199
Net Nonoperating Expense (NNE)		 106 1.38 -13 12 -3.93 4.64 28 23 47 58 111
Net Nonoperating Obligations (NNO)		 396 176 30 -43 -41 -78 -299 -309 -256 -211 -185
Total Depreciation and Amortization (D&A)		 58 61 57 51 49 48 45 53 41 43 111
Debt-free, Cash-free Net Working Capital to Revenue		 21.26% 15.31% 18.33% 15.53% 23.57% 16.55% 27.87% 14.84% 11.27% 11.44% 11.77%
Debt-free Net Working Capital to Revenue		 60.53% 44.33% 70.64% 43.32% 54.42% 64.03% 117.52% 78.03% 73.64% 64.23% 49.04%
Net Working Capital to Revenue		 21.54% 42.85% 29.74% 41.96% 38.14% 62.80% 111.10% 77.01% 72.06% 62.29% 46.89%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($1.47) ($0.10) ($0.53) ($0.02) $0.10 ($0.05) ($0.44) ($0.26) ($0.45) ($0.37) ($1.01)
Adjusted Weighted Average Basic Shares Outstanding		 97.36M 149.59M 152.39M 204.62M 204.57M 200.66M 213.12M 222.41M 222.90M 223.35M 220.65M
Adjusted Diluted Earnings per Share		 ($1.47) ($0.10) ($0.53) ($0.02) $0.10 ($0.05) ($0.44) ($0.26) ($0.45) ($0.37) ($1.01)
Adjusted Weighted Average Diluted Shares Outstanding		 97.36M 149.59M 152.39M 204.62M 205.99M 200.66M 213.12M 222.41M 222.90M 223.35M 220.65M
Adjusted Basic & Diluted Earnings per Share		 ($1.47) ($0.10) ($0.53) ($0.02) $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 91.61M 119.40M 150.43M 180.66M 205.58M 199.22M 222.50M 222.73M 223.24M 223.61M 219.43M
Normalized Net Operating Profit after Tax (NOPAT)		 -29 -12 -47 2.73 9.32 -6.89 -67 -36 -53 -20 -67
Normalized NOPAT Margin		 -7.58% -3.07% -13.63% 0.79% 2.71% -2.36% -26.03% -8.61% -12.58% -4.76% -15.74%
Pre Tax Income Margin		 -34.83% -3.08% -24.39% -2.55% 4.10% -3.85% -36.78% -14.13% -23.64% -19.48% -53.07%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 -0.40 -0.61 -3.59 0.51 2.56 -0.78 -20.37 -8.18 -3.33 -1.13 -2.99
NOPAT to Interest Expense		 -0.30 -0.42 -5.30 0.17 1.23 -0.94 -15.02 -5.74 -2.33 -0.79 -2.12
EBIT Less CapEx to Interest Expense		 -0.93 -1.41 -5.63 -1.04 0.01 -1.95 -24.92 -15.18 -7.72 -3.13 -3.38
NOPAT Less CapEx to Interest Expense		 -0.84 -1.22 -7.35 -1.38 -1.32 -2.11 -19.56 -12.74 -6.72 -2.79 -2.51
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 -0.65% -17.39% -11.66% -9.90% 0.00% -127.04% -10.04% 0.00% 0.00% 0.00% -3.57%

Quarterly Metrics And Ratios for Clean Energy Fuels

This table displays calculated financial ratios and metrics derived from Clean Energy Fuels' official financial filings.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
DEI Shares Outstanding		 - - - - - 223,605,152.00 220,981,915.00 219,289,216.00 - 219,430,950.00 220,224,634.00
DEI Adjusted Shares Outstanding		 - - - - - 223,605,152.00 220,981,915.00 219,289,216.00 - 219,430,950.00 220,224,634.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - -0.60 -0.09 -0.11 - -0.06 -0.07
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -6.06% -21.54% 8.18% 9.74% 2.31% 0.05% 4.76% 1.20% 2.74% 13.29% 3.65%
EBITDA Growth		 1,223.89% 103.94% 271.68% 129.78% -173.30% -6,365.62% -80.23% 24.81% 695.67% 114.26% 503.13%
EBIT Growth		 41.61% 73.95% 56.77% 60.22% -98.94% -1,270.78% -62.62% -35.38% 18.91% 97.98% 47.24%
NOPAT Growth		 41.08% 73.71% 57.17% 60.08% -96.71% -1,256.44% -65.09% -59.90% 17.21% 97.71% 44.45%
Net Income Growth		 -49.88% 52.06% 0.12% 29.39% -60.82% -625.35% -23.93% -31.01% -42.63% 90.72% 26.33%
EPS Growth		 -80.00% 52.94% 0.00% 33.33% -55.56% -650.00% -28.57% -37.50% -50.00% 90.00% 22.22%
Operating Cash Flow Growth		 22.83% 113.63% 55.83% 175.78% -49.14% 804.56% 91.32% -38.72% -40.03% -135.69% -19.82%
Free Cash Flow Firm Growth		 -313.92% -200.57% 1.41% 2.68% 37.86% 134.93% 337.65% 337.09% 403.88% -187.47% -99.97%
Invested Capital Growth		 14.13% 13.99% 9.04% 8.66% 6.40% -22.58% -22.86% -23.57% -25.15% 4.83% -0.94%
Revenue Q/Q Growth		 11.81% -2.95% -5.55% 7.07% 4.24% -5.09% -1.11% 3.43% 5.82% 4.66% -9.52%
EBITDA Q/Q Growth		 132.36% -65.88% 423.11% -48.46% -179.66% -2,817.10% 101.65% 225.38% 280.18% -30.15% -30.20%
EBIT Q/Q Growth		 69.61% -41.98% 38.87% -50.80% -52.00% -878.31% 92.75% -25.54% 8.96% 75.62% -89.34%
NOPAT Q/Q Growth		 69.25% -41.74% 39.94% -52.50% -51.52% -877.39% 92.69% -47.70% 21.55% 72.94% -77.13%
Net Income Q/Q Growth		 27.43% 1.14% 11.54% -11.27% -65.29% -345.88% 84.89% -17.62% -79.95% 71.00% -20.02%
EPS Q/Q Growth		 25.00% 11.11% 12.50% -14.29% -75.00% -328.57% 85.00% -22.22% -90.91% 71.43% -16.67%
Operating Cash Flow Q/Q Growth		 455.12% -93.98% 624.52% 13.82% 2.37% 7.15% 53.24% -63.54% 0.18% -163.77% 444.25%
Free Cash Flow Firm Q/Q Growth		 -33.79% -18.05% 32.82% -2.47% 14.57% 159.39% 357.15% 2.22% 9.50% -117.09% 100.18%
Invested Capital Q/Q Growth		 2.41% 5.25% 0.60% 1.63% 0.28% -24.49% 0.25% 0.69% -1.80% 5.76% -5.27%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 27.23% 27.10% 34.72% 30.21% 31.57% 26.75% 27.47% 25.74% 28.18% 27.78% 28.34%
EBITDA Margin		 2.80% 0.98% 5.45% 2.63% -2.01% -61.65% 1.03% 3.24% 11.63% 7.76% 5.99%
Operating Margin		 -6.15% -8.98% -5.71% -8.13% -11.82% -121.72% -9.00% -12.85% -9.52% -2.46% -4.82%
EBIT Margin		 -6.07% -8.88% -5.75% -8.10% -11.81% -121.71% -8.93% -10.83% -9.32% -2.17% -4.54%
Profit (Net Income) Margin		 -17.62% -17.95% -16.81% -17.47% -27.70% -130.13% -19.89% -22.62% -38.46% -10.66% -14.14%
Tax Burden Percent		 98.65% 99.05% 104.83% 100.27% 107.31% 97.87% 100.35% 100.31% 99.92% 100.14% 100.86%
Interest Burden Percent		 294.16% 203.99% 278.92% 215.14% 218.62% 109.24% 222.03% 208.11% 412.96% 490.16% 308.51%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 -4.08% -5.36% -3.38% -4.84% -6.98% -80.61% -6.00% -8.49% -6.38% -1.92% -3.90%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.95% -0.55% 1.89% 0.66% 2.11% -60.03% 0.30% -1.73% 11.65% 3.59% 1.97%
Return on Net Nonoperating Assets (RNNOA)		 -0.37% 0.19% -0.63% -0.21% -0.68% 20.42% -0.10% 0.56% -3.59% -1.17% -0.67%
Return on Equity (ROE)		 -4.45% -5.17% -4.01% -5.04% -7.66% -60.19% -6.10% -7.93% -9.97% -3.10% -4.57%
Cash Return on Invested Capital (CROIC)		 -25.13% -20.64% -14.92% -12.62% -11.36% 1.04% 0.92% 1.34% 3.58% -11.21% -4.97%
Operating Return on Assets (OROA)		 -2.21% -3.06% -2.03% -2.90% -3.92% -43.03% -3.18% -3.86% -3.44% -0.88% -1.88%
Return on Assets (ROA)		 -6.40% -6.18% -5.93% -6.25% -9.20% -46.01% -7.08% -8.05% -14.20% -4.34% -5.84%
Return on Common Equity (ROCE)		 -4.41% -5.12% -3.97% -5.00% -7.59% -59.60% -6.04% -7.85% -9.88% -3.07% -4.52%
Return on Equity Simple (ROE_SIMPLE)		 0.00% -11.05% -11.05% -9.97% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -4.60 -6.52 -3.91 -5.97 -9.05 -88 -6.46 -9.55 -7.49 -2.03 -3.59
NOPAT Margin		 -4.30% -6.28% -4.00% -5.69% -8.27% -85.20% -6.30% -8.99% -6.67% -1.72% -3.38%
Net Nonoperating Expense Percent (NNEP)		 -5.04% -4.81% -5.27% -5.49% -9.09% -20.57% -6.29% -6.75% -18.03% -5.52% -5.87%
Return On Investment Capital (ROIC_SIMPLE)		 -0.46% - - - -0.91% -10.11% -0.73% -1.08% -0.94% -0.25% -0.45%
Cost of Revenue to Revenue		 72.77% 72.90% 65.28% 69.79% 68.43% 73.25% 72.53% 74.26% 71.82% 72.22% 71.66%
SG&A Expenses to Revenue		 23.35% 25.30% 28.93% 27.52% 25.97% 26.47% 26.75% 24.75% 27.29% 20.88% 23.12%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 33.38% 36.08% 40.43% 38.35% 43.39% 148.47% 36.46% 38.58% 37.70% 30.24% 33.16%
Earnings before Interest and Taxes (EBIT)		 -6.49 -9.21 -5.63 -8.49 -13 -126 -9.16 -11 -10 -2.55 -4.83
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 2.99 1.02 5.34 2.75 -2.19 -64 1.06 3.44 13 9.12 6.37
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.18 0.83 0.82 0.96 0.79 0.58 0.73 0.97 0.82 0.98 0.82
Price to Tangible Book Value (P/TBV)		 1.30 0.92 0.91 1.06 0.87 0.59 0.74 0.98 0.84 0.99 0.83
Price to Revenue (P/Rev)		 2.01 1.51 1.48 1.68 1.35 0.83 1.02 1.34 1.08 1.24 1.02
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 1.27 0.75 0.75 0.94 0.70 0.36 0.58 0.95 0.74 0.97 0.73
Enterprise Value to Revenue (EV/Rev)		 1.42 0.94 0.92 1.15 0.86 0.33 0.53 0.87 0.66 0.89 0.63
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 3,441.34 39.38 51.39 0.00 0.00 0.00 0.00 14.55 8.72
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 13.82 5.67 5.16 5.56 5.51 1.59 2.19 3.90 3.29 7.23 5.99
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 29.69 55.06 61.55 17.69 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.37 0.37 0.37 0.37 0.38 0.45 0.48 0.50 0.42 0.42 0.43
Long-Term Debt to Equity		 0.36 0.36 0.36 0.36 0.37 0.45 0.47 0.48 0.40 0.40 0.41
Financial Leverage		 -0.39 -0.35 -0.33 -0.32 -0.32 -0.34 -0.33 -0.32 -0.31 -0.33 -0.34
Leverage Ratio		 1.60 1.61 1.60 1.62 1.72 1.77 1.78 1.79 1.79 1.85 1.85
Compound Leverage Factor		 4.71 3.28 4.46 3.49 3.77 1.93 3.95 3.73 7.40 9.05 5.72
Debt to Total Capital		 26.74% 27.07% 27.06% 27.11% 27.53% 31.06% 32.41% 33.14% 29.45% 29.62% 29.93%
Short-Term Debt to Total Capital		 0.67% 0.89% 0.77% 0.78% 0.81% 0.01% 0.95% 0.99% 1.14% 1.17% 1.21%
Long-Term Debt to Total Capital		 26.07% 26.18% 26.29% 26.32% 26.72% 31.05% 31.47% 32.15% 28.31% 28.45% 28.72%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.69% 0.67% 0.65% 0.64% 0.63% 0.71% 0.68% 0.66% 0.70% 0.69% 0.67%
Common Equity to Total Capital		 72.57% 72.26% 72.29% 72.26% 71.84% 68.23% 66.90% 66.20% 69.85% 69.69% 69.40%
Debt to EBITDA		 -7.59 -32.46 2,505.86 22.46 39.50 -4.68 -4.59 -4.75 -5.08 8.89 7.46
Net Debt to EBITDA		 7.26 28.05 -2,138.69 -18.54 -30.54 3.73 3.40 3.30 3.98 -6.05 -5.55
Long-Term Debt to EBITDA		 -7.40 -31.39 2,434.37 21.81 38.33 -4.68 -4.46 -4.61 -4.88 8.54 7.16
Debt to NOPAT		 -5.01 -7.69 -9.03 -12.95 -10.74 -2.53 -2.60 -2.58 -2.11 -9.30 -10.53
Net Debt to NOPAT		 4.79 6.65 7.70 10.69 8.31 2.02 1.93 1.80 1.65 6.33 7.84
Long-Term Debt to NOPAT		 -4.88 -7.44 -8.77 -12.57 -10.43 -2.53 -2.53 -2.51 -2.03 -8.93 -10.11
Altman Z-Score		 0.55 0.23 0.22 0.30 0.05 -0.75 -0.33 -0.23 -0.48 -0.35 -0.50
Noncontrolling Interest Sharing Ratio		 0.98% 0.98% 0.96% 0.94% 0.90% 0.97% 0.95% 0.92% 0.93% 1.01% 0.98%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 2.87 3.14 3.17 3.06 2.67 2.82 2.83 2.69 2.32 2.46 2.48
Quick Ratio		 2.34 2.50 2.59 2.55 2.22 2.31 2.34 2.22 1.76 1.82 1.85
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -64 -67 -45 -46 -40 24 108 110 120 -21 0.04
Operating Cash Flow to CapEx		 127.94% 14.24% 134.85% 101.97% 192.30% 940.13% 725.71% 200.40% 199.24% -121.58% 796.07%
Free Cash Flow to Firm to Interest Expense		 -6.18 -8.67 -5.71 -5.55 -4.87 3.12 13.90 14.12 4.06 -3.61 0.01
Operating Cash Flow to Interest Expense		 4.17 0.33 2.37 2.56 2.69 3.11 4.64 1.68 0.44 -1.47 5.23
Operating Cash Flow Less CapEx to Interest Expense		 0.91 -2.01 0.61 0.05 1.29 2.78 4.00 0.84 0.22 -2.67 4.57
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.36 0.34 0.35 0.36 0.33 0.35 0.36 0.36 0.37 0.41 0.41
Accounts Receivable Turnover		 3.79 3.37 3.69 3.35 3.49 3.89 4.03 3.72 3.71 3.92 4.57
Inventory Turnover		 8.33 6.71 6.64 6.73 6.48 6.08 6.30 6.74 7.10 7.21 7.23
Fixed Asset Turnover		 1.43 1.30 1.28 1.25 1.19 1.27 1.26 1.24 1.23 1.38 1.39
Accounts Payable Turnover		 6.78 7.21 8.13 7.24 6.37 8.00 9.58 9.49 10.42 12.18 12.92
Days Sales Outstanding (DSO)		 96.29 108.24 98.90 108.94 104.52 93.91 90.54 98.09 98.50 93.11 79.82
Days Inventory Outstanding (DIO)		 43.81 54.40 55.00 54.22 56.34 60.02 57.96 54.17 51.43 50.60 50.46
Days Payable Outstanding (DPO)		 53.87 50.62 44.91 50.43 57.31 45.62 38.12 38.47 35.02 29.97 28.26
Cash Conversion Cycle (CCC)		 86.23 112.02 109.00 112.73 103.55 108.31 110.38 113.79 114.91 113.74 102.03
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 478 496 499 507 508 384 385 387 380 402 381
Invested Capital Turnover		 0.95 0.85 0.85 0.85 0.84 0.95 0.95 0.94 0.96 1.12 1.16
Increase / (Decrease) in Invested Capital		 59 61 41 40 31 -112 -114 -119 -128 19 -3.63
Enterprise Value (EV)		 605 371 372 477 356 136 225 368 281 388 279
Market Capitalization		 854 598 596 695 561 347 431 566 461 544 451
Book Value per Share		 $3.26 $3.24 $3.24 $3.24 $3.19 $2.67 $2.67 $2.67 $2.55 $2.54 $2.51
Tangible Book Value per Share		 $2.94 $2.92 $2.92 $2.93 $2.88 $2.64 $2.65 $2.64 $2.51 $2.50 $2.47
Total Capital		 1,001 1,000 1,000 1,003 993 875 883 884 801 801 797
Total Debt		 268 271 271 272 273 272 286 293 236 237 239
Total Long-Term Debt		 261 262 263 264 265 272 278 284 227 228 229
Net Debt		 -256 -234 -231 -224 -211 -217 -212 -204 -185 -161 -178
Capital Expenditures (CapEx)		 34 18 14 21 11 2.49 4.95 6.53 6.58 6.88 3.62
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 48 64 65 60 48 35 29 31 50 78 63
Debt-free Net Working Capital (DFNWC)		 313 315 316 306 267 264 272 265 208 207 203
Net Working Capital (NWC)		 306 306 308 298 259 264 264 257 199 197 193
Net Nonoperating Expense (NNE)		 14 12 13 12 21 47 14 14 36 11 11
Net Nonoperating Obligations (NNO)		 -256 -234 -231 -224 -211 -219 -212 -204 -185 -161 -178
Total Depreciation and Amortization (D&A)		 9.48 10 11 11 11 62 10 15 24 12 11
Debt-free, Cash-free Net Working Capital to Revenue		 11.27% 16.09% 16.04% 14.55% 11.44% 8.42% 6.92% 7.40% 11.77% 17.83% 14.22%
Debt-free Net Working Capital to Revenue		 73.64% 79.34% 78.24% 73.95% 64.23% 63.41% 64.67% 62.94% 49.04% 47.11% 45.90%
Net Working Capital to Revenue		 72.06% 77.09% 76.33% 72.06% 62.29% 63.40% 62.68% 60.86% 46.89% 44.97% 43.72%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.09) ($0.08) ($0.07) ($0.08) ($0.14) ($0.60) ($0.09) ($0.11) ($0.21) ($0.06) ($0.07)
Adjusted Weighted Average Basic Shares Outstanding		 222.90M 223.21M 223.29M 223.43M 223.35M 223.67M 220.39M 219.29M 220.65M 219.67M 220.26M
Adjusted Diluted Earnings per Share		 ($0.09) ($0.08) ($0.07) ($0.08) ($0.14) ($0.60) ($0.09) ($0.11) ($0.21) ($0.06) ($0.07)
Adjusted Weighted Average Diluted Shares Outstanding		 222.90M 223.21M 223.29M 223.43M 223.35M 223.67M 220.39M 219.29M 220.65M 219.67M 220.26M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 223.24M 223.26M 223.43M 223.46M 223.61M 220.98M 219.29M 219.30M 219.43M 220.22M 220.45M
Normalized Net Operating Profit after Tax (NOPAT)		 -4.60 -6.52 -3.91 -5.97 -9.05 -43 -6.46 -9.55 -7.49 -2.03 -3.59
Normalized NOPAT Margin		 -4.30% -6.28% -4.00% -5.69% -8.27% -41.81% -6.30% -8.99% -6.67% -1.72% -3.38%
Pre Tax Income Margin		 -17.86% -18.12% -16.04% -17.42% -25.81% -132.96% -19.82% -22.54% -38.49% -10.64% -14.02%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 -0.63 -1.19 -0.71 -1.02 -1.59 -16.78 -1.18 -1.48 -0.35 -0.45 -0.88
NOPAT to Interest Expense		 -0.45 -0.84 -0.49 -0.71 -1.11 -11.74 -0.84 -1.23 -0.25 -0.36 -0.65
EBIT Less CapEx to Interest Expense		 -3.89 -3.53 -2.47 -3.52 -2.98 -17.11 -1.82 -2.32 -0.58 -1.65 -1.53
NOPAT Less CapEx to Interest Expense		 -3.70 -3.18 -2.25 -3.22 -2.51 -12.08 -1.48 -2.07 -0.47 -1.56 -1.31
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% -0.20% 0.00% 0.00% -3.57% -7.54% 0.00%

Financials Breakdown Chart

Key Financial Trends

Clean Energy Fuels’ second-quarter 2026 results show modest revenue growth and improving losses, but profitability remains elusive. Revenue increased to $106.4 million from $102.6 million in the restated second quarter of 2025, a gain of approximately 3.6%. Gross profit rose to $30.1 million, and gross margin improved to about 28.4% from 27.5% a year earlier. However, revenue declined sequentially from $117.6 million in the first quarter of 2026.

Operating performance improved on a year-over-year basis. The operating loss narrowed to $5.1 million from $9.2 million, while the net loss attributable to common shareholders improved to $14.9 million, or $0.07 per share, from $20.2 million, or $0.09 per share. Still, the company remained unprofitable for the quarter, and its operating loss was wider than the $2.9 million loss recorded in the first quarter.

Cash generation was mixed. Operating cash flow rebounded to $28.8 million in the second quarter from negative $8.4 million in the first quarter, supported in part by a $11.8 million benefit from changes in operating assets and liabilities. Nevertheless, operating cash flow was below the $35.9 million generated in the year-ago quarter. After investing and financing activity, cash increased by only $1.5 million, compared with a $100.1 million decline in the first quarter.

The balance sheet remains liquid but has weakened over the longer term. Cash and short-term investments totaled approximately $140.2 million at June 30, 2026, down from $242.9 million a year earlier and approximately $245.6 million in the third quarter of 2024. Total liabilities declined to $467.1 million from $519.0 million a year earlier, largely because long-term debt fell to $229.0 million from $277.9 million. However, retained earnings remained deeply negative at $1.26 billion, reflecting the company’s history of cumulative losses.

  • Revenue continued to grow year over year: Second-quarter revenue increased approximately 3.6% from the restated 2025 period, extending the improvement from $90.5 million in Q2 2023.
  • Gross margin improved: Gross margin rose to about 28.4% from 27.5% a year earlier, suggesting some improvement in the relationship between pricing and fuel costs.
  • Operating losses narrowed: The second-quarter operating loss improved to $5.1 million from $9.2 million in Q2 2025, while SG&A expense was essentially flat year over year.
  • Debt declined: Long-term debt fell approximately 18% year over year to $229.0 million, reducing balance-sheet leverage and interest pressure over time.
  • Operating cash flow recovered sequentially: Cash flow from operations improved from negative $8.4 million in Q1 2026 to positive $28.8 million in Q2.
  • Investment activity creates significant cash-flow volatility: The company purchased $230.5 million of investments and sold or matured $220.9 million during the quarter, indicating that reported investing cash flow is heavily influenced by portfolio turnover rather than solely by capital spending.
  • Liquidity remains adequate but narrower: The company had $324.1 million of current assets against $130.7 million of current liabilities, representing a current ratio of approximately 2.5, although this is below the roughly 2.8 ratio a year earlier.
  • Profitability remains unresolved: Clean Energy Fuels has continued to report quarterly net losses, with a $15.0 million loss in Q2 2026 and retained earnings of negative $1.26 billion.
  • Cash and investments have declined substantially: Cash and short-term investments fell approximately 42% from Q2 2025, leaving less financial flexibility if operating losses persist.
  • Interest expense remains material: The company incurred $5.5 million of interest expense in Q2 2026, which continued to weigh on pretax results despite being lower than the $7.7 million reported in the year-ago quarter.

Overall, the statements point to gradual operational improvement, including higher revenue, better gross margins, lower debt and narrower losses compared with 2025. However, CLNE still needs to achieve sustained operating profitability and preserve its shrinking cash and investment balances before the financial trend can be considered firmly positive.

10/03/26 05:43 PM ETAI Generated. May Contain Errors.

Clean Energy Fuels Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Clean Energy Fuels' financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Clean Energy Fuels' net income appears to be on a downward trend, with a most recent value of -$222.64 million in 2025, falling from -$135.46 million in 2015. The previous period was -$83.69 million in 2024. See Clean Energy Fuels' forecast for analyst expectations on what's next for the company.

Clean Energy Fuels' total operating income in 2025 was -$159.86 million, based on the following breakdown:
  • Total Gross Profit: $114.91 million
  • Total Operating Expenses: $274.77 million

Over the last 10 years, Clean Energy Fuels' total revenue changed from $384.32 million in 2015 to $424.83 million in 2025, a change of 10.5%.

In the past 13 quarters, Clean Energy Fuels' cash and equivalents has ranged from $0.00 in Q1 2023 to $182.96 million in Q3 2025, and is currently $59.15 million as of their latest financial filing in Q2 2026.

Clean Energy Fuels had total debt of $235.87 million at the end of 2025, a 13.7% decrease from 2024, and a 58.4% decrease since 2015.

Over the last 10 years, Clean Energy Fuels' book value per share changed from 3.34 in 2015 to 2.55 in 2025, a change of -23.6%.


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Financial statements for NASDAQ:CLNE last updated on 8/6/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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