What is Clean Energy Fuels' operating income?

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

Clean Energy Fuels (CLNE) Financials

$2.32 +0.13 (+5.94%)

Closing price 07/13/2026 04:00 PM Eastern

Extended Trading

$2.33 +0.01 (+0.43%)

As of 07:15 AM Eastern

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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

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	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	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
Net Income / (Loss) Attributable to Common Shareholders	-26	-19	-18	-16	-18	-30	-135	-20	-24	-43	-12
Consolidated Net Income / (Loss)	-26	-19	-19	-16	-18	-30	-135	-20	-24	-43	-13
Net Income / (Loss) Continuing Operations	-26	-19	-19	-16	-18	-30	-135	-20	-24	-43	-13
Total Pre-Tax Income	-26	-19	-19	-16	-18	-28	-138	-20	-24	-43	-13
Total Operating Income	-21	-6.57	-9.31	-5.59	-8.53	-13	-126	-9.23	-14	-11	-2.90
Total Gross Profit	21	29	28	34	32	35	28	28	27	32	33
Total Revenue	96	107	104	98	105	109	104	103	106	112	118
Operating Revenue	96	107	104	98	105	109	104	103	106	112	118
Total Cost of Revenue	74	78	76	64	73	75	76	74	79	81	85
Operating Cost of Revenue	74	78	76	64	73	75	76	74	79	81	85
Total Operating Expenses	43	36	37	40	40	47	154	37	41	42	36
Selling, General & Admin Expense	29	25	26	28	29	28	27	27	26	31	25
Depreciation Expense	13	11	11	11	11	11	62	9.96	15	12	11
Impairment Charge	-	-	0.00	0.00	0.00	-	64	0.00	0.00	-	0.00
Total Other Income / (Expense), net	-4.63	-13	-9.48	-10	-9.74	-15	-12	-11	-10	-33	-9.61
Interest Expense	3.89	10	7.76	7.92	8.36	8.14	7.53	7.74	7.78	30	5.70
Interest & Investment Income	-0.75	-2.29	-1.82	-2.16	-1.42	-7.17	-4.15	-3.44	-4.65	-3.12	-4.26
Other Income / (Expense), net	0.01	0.08	0.10	-0.04	0.04	0.01	0.01	0.07	2.14	0.23	0.34
Income Tax Expense	-0.05	-0.26	-0.18	0.76	0.05	2.06	-2.93	0.07	0.08	-0.04	0.00
Net Income / (Loss) Attributable to Noncontrolling Interest	-0.14	-0.14	-0.17	-0.17	-0.15	-0.13	-0.06	-0.17	-0.18	-0.20	-0.12
Basic Earnings per Share	($0.12)	($0.09)	($0.08)	($0.07)	($0.08)	($0.14)	($0.60)	($0.09)	($0.11)	($0.21)	($0.06)
Weighted Average Basic Shares Outstanding	222.97M	222.90M	223.21M	223.29M	223.43M	223.35M	223.67M	220.39M	219.29M	220.65M	219.67M
Diluted Earnings per Share	($0.12)	($0.09)	($0.08)	($0.07)	($0.08)	($0.14)	($0.60)	($0.09)	($0.11)	($0.21)	($0.06)
Weighted Average Diluted Shares Outstanding	222.97M	222.90M	223.21M	223.29M	223.43M	223.35M	223.67M	220.39M	219.29M	220.65M	219.67M
Weighted Average Basic & Diluted Shares Outstanding	223.02M	223.24M	223.26M	223.43M	223.46M	223.61M	220.98M	219.29M	219.30M	219.43M	220.22M

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

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	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	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
Net Change in Cash & Equivalents	-28	80	-16	34	-6.14	-27	29	14	49	-25	-100
Net Cash From Operating Activities	7.75	43	2.59	19	21	22	23	36	13	13	-8.36
Net Cash From Continuing Operating Activities	7.75	43	2.59	19	21	22	23	36	13	13	-8.36
Net Income / (Loss) Continuing Operations	-26	-19	-19	-16	-18	-30	-135	-20	-24	-43	-13
Consolidated Net Income / (Loss)	-26	-19	-19	-16	-18	-30	-135	-20	-24	-43	-13
Depreciation Expense	13	11	11	11	11	11	62	9.96	15	12	11
Amortization Expense	-1.29	-1.23	-0.95	-0.29	-0.10	-0.23	0.05	0.25	0.25	12	0.67
Non-Cash Adjustments To Reconcile Net Income	28	36	24	26	27	43	95	29	29	38	20
Changes in Operating Assets and Liabilities, net	-6.86	17	-13	-1.70	1.52	-1.33	0.73	17	-6.48	-5.62	-28
Net Cash From Investing Activities	-35	-105	-20	16	-27	-47	7.40	-14	37	33	-90
Net Cash From Continuing Investing Activities	-35	-105	-20	16	-27	-47	7.40	-14	37	33	-90
Purchase of Property, Plant & Equipment	-25	-34	-18	-14	-21	-12	-7.49	-4.96	-6.62	-6.61	-6.89
Purchase of Investments	-148	-157	-158	-251	-252	-254	-363	-158	-167	-167	-160
Sale of Property, Plant & Equipment	0.03	0.03	0.02	0.02	0.37	0.16	5.00	0.01	0.09	0.03	0.02
Sale and/or Maturity of Investments	137	150	159	285	253	254	384	158	229	219	90
Other Investing Activities, net	0.51	-65	-2.68	-4.58	-6.98	-36	-11	-9.55	-19	-12	-13
Net Cash From Financing Activities	-0.84	142	1.83	-0.97	-0.95	-1.85	-1.92	-8.28	-0.77	-71	-1.95
Net Cash From Continuing Financing Activities	-0.84	142	1.83	-0.97	-0.95	-1.85	-1.92	-8.28	-0.77	-71	-1.95
Repayment of Debt	-0.55	-158	-0.91	-0.56	-0.39	-1.26	-0.26	-0.32	-0.30	-71	-0.34
Repurchase of Common Equity	-	-	0.00	-	-	-	-0.39	-7.55	-	-	0.00
Issuance of Common Equity	-0.16	0.07	0.04	-	0.01	0.02	0.05	-	0.00	-0.09	0.00
Other Financing Activities, net	-0.13	0.20	2.71	-0.41	-0.57	-0.61	-1.33	-0.41	-0.47	-0.37	-1.61
Other Net Changes in Cash	-	0.00	-0.12	-	0.09	-0.33	0.22	-0.06	-	-	-0.18
Cash Interest Paid	3.65	4.43	6.47	6.74	7.29	6.90	1.26	1.40	1.40	11	4.57
Cash Income Taxes Paid	-	0.02	0.01	0.04	0.02	-0.01	0.00	0.02	0.02	0.00	-0.00

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

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	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2022	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
Total Assets	941	1,070	1,046	1,065	1,236	1,246	1,244	1,117	1,116	1,125	1,037
Total Current Assets	356	442	392	393	449	451	442	409	408	409	332
Cash & Equivalents	23	0.00	0.00	0.00	91	125	119	121	134	183	58
Short-Term Investments	111	55	139	149	159	126	127	108	109	51	71
Accounts Receivable	127	128	102	124	107	117	123	107	91	104	117
Inventories, net	36	38	39	40	49	49	46	46	45	44	43
Prepaid Expenses	58	54	58	52	42	33	28	25	25	26	44
Plant, Property, & Equipment, net	249	274	292	306	336	340	354	319	325	326	318
Total Noncurrent Assets	337	354	362	366	451	455	448	389	383	390	386
Long-Term Investments	193	192	197	194	254	250	251	259	256	263	270
Noncurrent Note & Lease Receivables	28	31	31	27	36	35	33	37	35	34	21
Intangible Assets	5.92	6.37	6.37	6.37	6.37	6.37	6.37	5.50	5.50	5.50	9.77
Other Noncurrent Operating Assets	45	61	63	75	90	100	93	88	87	87	86
Total Liabilities & Shareholders' Equity	941	1,070	1,046	1,065	1,236	1,246	1,244	1,117	1,116	1,125	1,037
Total Liabilities	213	366	343	373	507	517	513	514	519	534	473
Total Current Liabilities	134	152	128	146	143	142	144	145	144	152	135
Short-Term Debt	8.09	0.04	0.04	0.04	8.91	7.72	7.83	0.05	8.37	8.76	9.39
Accounts Payable	31	39	38	49	42	34	31	30	28	33	22
Accrued Expenses	85	98	77	83	84	91	98	98	98	99	87
Current Deferred Revenue	4.93	6.10	4.92	3.52	7.79	7.79	5.84	7.82	8.84	10	16
Other Current Liabilities	4.85	8.94	8.82	10	0.88	1.92	1.81	9.06	1.02	1.13	1.25
Total Noncurrent Liabilities	79	214	215	227	363	374	369	369	375	382	338
Long-Term Debt	24	145	145	145	262	263	264	272	278	284	228
Other Noncurrent Operating Liabilities	54	69	70	83	102	111	105	97	97	97	110
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	729	704	703	692	730	730	731	603	597	591	564
Total Preferred & Common Equity	721	696	696	685	723	723	725	597	591	585	558
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	721	696	696	685	723	723	725	597	591	585	558
Common Stock	1,544	1,568	1,582	1,599	1,674	1,691	1,710	1,749	1,761	1,780	1,808
Retained Earnings	-818	-869	-885	-911	-948	-964	-982	-1,148	-1,168	-1,192	-1,247
Accumulated Other Comprehensive Income / (Loss)	-4.88	-3.02	-1.32	-3.28	-2.99	-3.54	-2.51	-4.35	-2.27	-3.20	-2.96
Noncontrolling Interest	7.71	7.34	7.16	7.02	6.70	6.53	6.38	6.19	6.03	5.84	5.53

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%

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

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	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
DEI Shares Outstanding	-	-	-	-	-	-	223,605,152.00	220,981,915.00	219,289,216.00	-	219,430,950.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	223,605,152.00	220,981,915.00	219,289,216.00	-	219,430,950.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-0.60	-0.09	-0.11	-	-0.06
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-23.96%	-6.06%	-21.54%	8.18%	9.74%	2.31%	0.05%	4.76%	1.20%	2.74%	13.29%
EBITDA Growth	-181.25%	1,223.89%	103.94%	271.68%	129.78%	-173.30%	-6,365.62%	-80.23%	24.81%	695.67%	114.26%
EBIT Growth	-148.17%	41.61%	73.95%	56.77%	60.22%	-98.94%	-1,270.78%	-62.62%	-35.38%	18.91%	97.98%
NOPAT Growth	-147.61%	41.08%	73.71%	57.17%	60.08%	-96.71%	-1,256.44%	-65.09%	-59.90%	17.21%	97.71%
Net Income Growth	-185.53%	-49.88%	52.06%	0.12%	29.39%	-60.82%	-625.35%	-23.93%	-31.01%	-42.63%	90.72%
EPS Growth	-200.00%	-80.00%	52.94%	0.00%	33.33%	-55.56%	-650.00%	-28.57%	-37.50%	-50.00%	90.00%
Operating Cash Flow Growth	1,618.63%	22.83%	113.63%	55.83%	175.78%	-49.14%	804.56%	91.32%	-38.72%	-40.03%	-135.69%
Free Cash Flow Firm Growth	-369.49%	-313.92%	-200.57%	1.41%	2.68%	37.86%	134.93%	337.65%	337.09%	403.88%	-187.47%
Invested Capital Growth	7.53%	14.13%	13.99%	9.04%	8.66%	6.40%	-22.58%	-22.86%	-23.57%	-25.15%	4.83%
Revenue Q/Q Growth	5.55%	11.81%	-2.95%	-5.55%	7.07%	4.24%	-5.09%	-1.11%	3.43%	5.82%	4.66%
EBITDA Q/Q Growth	-197.20%	132.36%	-65.88%	423.11%	-48.46%	-179.66%	-2,817.10%	101.65%	225.38%	280.18%	-30.15%
EBIT Q/Q Growth	-63.89%	69.61%	-41.98%	38.87%	-50.80%	-52.00%	-878.31%	92.75%	-25.54%	8.96%	75.62%
NOPAT Q/Q Growth	-63.65%	69.25%	-41.74%	39.94%	-52.50%	-51.52%	-877.39%	92.69%	-47.70%	21.55%	72.94%
Net Income Q/Q Growth	-57.40%	27.43%	1.14%	11.54%	-11.27%	-65.29%	-345.88%	84.89%	-17.62%	-79.95%	71.00%
EPS Q/Q Growth	-71.43%	25.00%	11.11%	12.50%	-14.29%	-75.00%	-328.57%	85.00%	-22.22%	-90.91%	71.43%
Operating Cash Flow Q/Q Growth	-35.68%	455.12%	-93.98%	624.52%	13.82%	2.37%	7.15%	53.24%	-63.54%	0.18%	-163.77%
Free Cash Flow Firm Q/Q Growth	-3.81%	-33.79%	-18.05%	32.82%	-2.47%	14.57%	159.39%	357.15%	2.22%	9.50%	-117.09%
Invested Capital Q/Q Growth	1.98%	2.41%	5.25%	0.60%	1.63%	0.28%	-24.49%	0.25%	0.69%	-1.80%	5.76%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	22.12%	27.23%	27.10%	34.72%	30.21%	31.57%	26.75%	27.47%	25.74%	28.18%	27.78%
EBITDA Margin	-9.67%	2.80%	0.98%	5.45%	2.63%	-2.01%	-61.65%	1.03%	3.24%	11.63%	7.76%
Operating Margin	-22.35%	-6.15%	-8.98%	-5.71%	-8.13%	-11.82%	-121.72%	-9.00%	-12.85%	-9.52%	-2.46%
EBIT Margin	-22.34%	-6.07%	-8.88%	-5.75%	-8.10%	-11.81%	-121.71%	-8.93%	-10.83%	-9.32%	-2.17%
Profit (Net Income) Margin	-27.15%	-17.62%	-17.95%	-16.81%	-17.47%	-27.70%	-130.13%	-19.89%	-22.62%	-38.46%	-10.66%
Tax Burden Percent	99.82%	98.65%	99.05%	104.83%	100.27%	107.31%	97.87%	100.35%	100.31%	99.92%	100.14%
Interest Burden Percent	121.76%	294.16%	203.99%	278.92%	215.14%	218.62%	109.24%	222.03%	208.11%	412.96%	490.16%
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)	-15.02%	-4.08%	-5.36%	-3.38%	-4.84%	-6.98%	-80.61%	-6.00%	-8.49%	-6.38%	-1.92%
ROIC Less NNEP Spread (ROIC-NNEP)	-10.80%	0.95%	-0.55%	1.89%	0.66%	2.11%	-60.03%	0.30%	-1.73%	11.65%	3.59%
Return on Net Nonoperating Assets (RNNOA)	3.96%	-0.37%	0.19%	-0.63%	-0.21%	-0.68%	20.42%	-0.10%	0.56%	-3.59%	-1.17%
Return on Equity (ROE)	-11.07%	-4.45%	-5.17%	-4.01%	-5.04%	-7.66%	-60.19%	-6.10%	-7.93%	-9.97%	-3.10%
Cash Return on Invested Capital (CROIC)	-19.86%	-25.13%	-20.64%	-14.92%	-12.62%	-11.36%	1.04%	0.92%	1.34%	3.58%	-11.21%
Operating Return on Assets (OROA)	-9.62%	-2.21%	-3.06%	-2.03%	-2.90%	-3.92%	-43.03%	-3.18%	-3.86%	-3.44%	-0.88%
Return on Assets (ROA)	-11.69%	-6.40%	-6.18%	-5.93%	-6.25%	-9.20%	-46.01%	-7.08%	-8.05%	-14.20%	-4.34%
Return on Common Equity (ROCE)	-10.95%	-4.41%	-5.12%	-3.97%	-5.00%	-7.59%	-59.60%	-6.04%	-7.85%	-9.88%	-3.07%
Return on Equity Simple (ROE_SIMPLE)	-13.71%	0.00%	-11.05%	-11.05%	-9.97%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-15	-4.60	-6.52	-3.91	-5.97	-9.05	-88	-6.46	-9.55	-7.49	-2.03
NOPAT Margin	-15.65%	-4.30%	-6.28%	-4.00%	-5.69%	-8.27%	-85.20%	-6.30%	-8.99%	-6.67%	-1.72%
Net Nonoperating Expense Percent (NNEP)	-4.23%	-5.04%	-4.81%	-5.27%	-5.49%	-9.09%	-20.57%	-6.29%	-6.75%	-18.03%	-5.52%
Return On Investment Capital (ROIC_SIMPLE)	-	-0.46%	-	-	-	-0.91%	-10.11%	-0.73%	-1.08%	-0.94%	-0.25%
Cost of Revenue to Revenue	77.88%	72.77%	72.90%	65.28%	69.79%	68.43%	73.25%	72.53%	74.26%	71.82%	72.22%
SG&A Expenses to Revenue	30.47%	23.35%	25.30%	28.93%	27.52%	25.97%	26.47%	26.75%	24.75%	27.29%	20.88%
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	44.48%	33.38%	36.08%	40.43%	38.35%	43.39%	148.47%	36.46%	38.58%	37.70%	30.24%
Earnings before Interest and Taxes (EBIT)	-21	-6.49	-9.21	-5.63	-8.49	-13	-126	-9.16	-11	-10	-2.55
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-9.25	2.99	1.02	5.34	2.75	-2.19	-64	1.06	3.44	13	9.12
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.25	1.18	0.83	0.82	0.96	0.79	0.58	0.73	0.97	0.82	0.98
Price to Tangible Book Value (P/TBV)	1.39	1.30	0.92	0.91	1.06	0.87	0.59	0.74	0.98	0.84	0.99
Price to Revenue (P/Rev)	1.98	2.01	1.51	1.48	1.68	1.35	0.83	1.02	1.34	1.08	1.24
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)	1.36	1.27	0.75	0.75	0.94	0.70	0.36	0.58	0.95	0.74	0.97
Enterprise Value to Revenue (EV/Rev)	1.47	1.42	0.94	0.92	1.15	0.86	0.33	0.53	0.87	0.66	0.89
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	3,441.34	39.38	51.39	0.00	0.00	0.00	0.00	14.55
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)	17.76	13.82	5.67	5.16	5.56	5.51	1.59	2.19	3.90	3.29	7.23
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	29.69	55.06	61.55	17.69	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.21	0.37	0.37	0.37	0.37	0.38	0.45	0.48	0.50	0.42	0.42
Long-Term Debt to Equity	0.21	0.36	0.36	0.36	0.36	0.37	0.45	0.47	0.48	0.40	0.40
Financial Leverage	-0.37	-0.39	-0.35	-0.33	-0.32	-0.32	-0.34	-0.33	-0.32	-0.31	-0.33
Leverage Ratio	1.41	1.60	1.61	1.60	1.62	1.72	1.77	1.78	1.79	1.79	1.85
Compound Leverage Factor	1.72	4.71	3.28	4.46	3.49	3.77	1.93	3.95	3.73	7.40	9.05
Debt to Total Capital	17.33%	26.74%	27.07%	27.06%	27.11%	27.53%	31.06%	32.41%	33.14%	29.45%	29.62%
Short-Term Debt to Total Capital	0.00%	0.67%	0.89%	0.77%	0.78%	0.81%	0.01%	0.95%	0.99%	1.14%	1.17%
Long-Term Debt to Total Capital	17.32%	26.07%	26.18%	26.29%	26.32%	26.72%	31.05%	31.47%	32.15%	28.31%	28.45%
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	0.84%	0.69%	0.67%	0.65%	0.64%	0.63%	0.71%	0.68%	0.66%	0.70%	0.69%
Common Equity to Total Capital	81.83%	72.57%	72.26%	72.29%	72.26%	71.84%	68.23%	66.90%	66.20%	69.85%	69.69%
Debt to EBITDA	-3.81	-7.59	-32.46	2,505.86	22.46	39.50	-4.68	-4.59	-4.75	-5.08	8.89
Net Debt to EBITDA	5.92	7.26	28.05	-2,138.69	-18.54	-30.54	3.73	3.40	3.30	3.98	-6.05
Long-Term Debt to EBITDA	-3.81	-7.40	-31.39	2,434.37	21.81	38.33	-4.68	-4.46	-4.61	-4.88	8.54
Debt to NOPAT	-2.56	-5.01	-7.69	-9.03	-12.95	-10.74	-2.53	-2.60	-2.58	-2.11	-9.30
Net Debt to NOPAT	3.97	4.79	6.65	7.70	10.69	8.31	2.02	1.93	1.80	1.65	6.33
Long-Term Debt to NOPAT	-2.56	-4.88	-7.44	-8.77	-12.57	-10.43	-2.53	-2.53	-2.51	-2.03	-8.93
Altman Z-Score	0.79	0.55	0.23	0.22	0.30	0.05	-0.75	-0.33	-0.23	-0.48	-0.35
Noncontrolling Interest Sharing Ratio	1.04%	0.98%	0.98%	0.96%	0.94%	0.90%	0.97%	0.95%	0.92%	0.93%	1.01%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.69	2.87	3.14	3.17	3.06	2.67	2.82	2.83	2.69	2.32	2.46
Quick Ratio	1.87	2.34	2.50	2.59	2.55	2.22	2.31	2.34	2.22	1.76	1.82
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-48	-64	-67	-45	-46	-40	24	108	110	120	-21
Operating Cash Flow to CapEx	31.60%	127.94%	14.24%	134.85%	101.97%	192.30%	940.13%	725.71%	200.40%	199.24%	-121.58%
Free Cash Flow to Firm to Interest Expense	-12.23	-6.18	-8.67	-5.71	-5.55	-4.87	3.12	13.90	14.12	4.06	-3.61
Operating Cash Flow to Interest Expense	1.99	4.17	0.33	2.37	2.56	2.69	3.11	4.64	1.68	0.44	-1.47
Operating Cash Flow Less CapEx to Interest Expense	-4.31	0.91	-2.01	0.61	0.05	1.29	2.78	4.00	0.84	0.22	-2.67
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.43	0.36	0.34	0.35	0.36	0.33	0.35	0.36	0.36	0.37	0.41
Accounts Receivable Turnover	3.44	3.79	3.37	3.69	3.35	3.49	3.89	4.03	3.72	3.71	3.92
Inventory Turnover	9.16	8.33	6.71	6.64	6.73	6.48	6.08	6.30	6.74	7.10	7.21
Fixed Asset Turnover	1.56	1.43	1.30	1.28	1.25	1.19	1.27	1.26	1.24	1.23	1.38
Accounts Payable Turnover	8.77	6.78	7.21	8.13	7.24	6.37	8.00	9.58	9.49	10.42	12.18
Days Sales Outstanding (DSO)	106.16	96.29	108.24	98.90	108.94	104.52	93.91	90.54	98.09	98.50	93.11
Days Inventory Outstanding (DIO)	39.83	43.81	54.40	55.00	54.22	56.34	60.02	57.96	54.17	51.43	50.60
Days Payable Outstanding (DPO)	41.62	53.87	50.62	44.91	50.43	57.31	45.62	38.12	38.47	35.02	29.97
Cash Conversion Cycle (CCC)	104.37	86.23	112.02	109.00	112.73	103.55	108.31	110.38	113.79	114.91	113.74
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	466	478	496	499	507	508	384	385	387	380	402
Invested Capital Turnover	0.96	0.95	0.85	0.85	0.85	0.84	0.95	0.95	0.94	0.96	1.12
Increase / (Decrease) in Invested Capital	33	59	61	41	40	31	-112	-114	-119	-128	19
Enterprise Value (EV)	636	605	371	372	477	356	136	225	368	281	388
Market Capitalization	854	854	598	596	695	561	347	431	566	461	544
Book Value per Share	$3.07	$3.26	$3.24	$3.24	$3.24	$3.19	$2.67	$2.67	$2.67	$2.55	$2.54
Tangible Book Value per Share	$2.75	$2.94	$2.92	$2.92	$2.93	$2.88	$2.64	$2.65	$2.64	$2.51	$2.50
Total Capital	837	1,001	1,000	1,000	1,003	993	875	883	884	801	801
Total Debt	145	268	271	271	272	273	272	286	293	236	237
Total Long-Term Debt	145	261	262	263	264	265	272	278	284	227	228
Net Debt	-225	-256	-234	-231	-224	-211	-217	-212	-204	-185	-161
Capital Expenditures (CapEx)	25	34	18	14	21	11	2.49	4.95	6.53	6.58	6.88
Debt-free, Cash-free Net Working Capital (DFCFNWC)	71	48	64	65	60	48	35	29	31	50	78
Debt-free Net Working Capital (DFNWC)	247	313	315	316	306	267	264	272	265	208	207
Net Working Capital (NWC)	247	306	306	308	298	259	264	264	257	199	197
Net Nonoperating Expense (NNE)	11	14	12	13	12	21	47	14	14	36	11
Net Nonoperating Obligations (NNO)	-225	-256	-234	-231	-224	-211	-219	-212	-204	-185	-161
Total Depreciation and Amortization (D&A)	12	9.48	10	11	11	11	62	10	15	24	12
Debt-free, Cash-free Net Working Capital to Revenue	16.39%	11.27%	16.09%	16.04%	14.55%	11.44%	8.42%	6.92%	7.40%	11.77%	17.83%
Debt-free Net Working Capital to Revenue	57.22%	73.64%	79.34%	78.24%	73.95%	64.23%	63.41%	64.67%	62.94%	49.04%	47.11%
Net Working Capital to Revenue	57.21%	72.06%	77.09%	76.33%	72.06%	62.29%	63.40%	62.68%	60.86%	46.89%	44.97%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.12)	($0.09)	($0.08)	($0.07)	($0.08)	($0.14)	($0.60)	($0.09)	($0.11)	($0.21)	($0.06)
Adjusted Weighted Average Basic Shares Outstanding	222.97M	222.90M	223.21M	223.29M	223.43M	223.35M	223.67M	220.39M	219.29M	220.65M	219.67M
Adjusted Diluted Earnings per Share	($0.12)	($0.09)	($0.08)	($0.07)	($0.08)	($0.14)	($0.60)	($0.09)	($0.11)	($0.21)	($0.06)
Adjusted Weighted Average Diluted Shares Outstanding	222.97M	222.90M	223.21M	223.29M	223.43M	223.35M	223.67M	220.39M	219.29M	220.65M	219.67M
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	223.02M	223.24M	223.26M	223.43M	223.46M	223.61M	220.98M	219.29M	219.30M	219.43M	220.22M
Normalized Net Operating Profit after Tax (NOPAT)	-15	-4.60	-6.52	-3.91	-5.97	-9.05	-43	-6.46	-9.55	-7.49	-2.03
Normalized NOPAT Margin	-15.65%	-4.30%	-6.28%	-4.00%	-5.69%	-8.27%	-41.81%	-6.30%	-8.99%	-6.67%	-1.72%
Pre Tax Income Margin	-27.20%	-17.86%	-18.12%	-16.04%	-17.42%	-25.81%	-132.96%	-19.82%	-22.54%	-38.49%	-10.64%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-5.48	-0.63	-1.19	-0.71	-1.02	-1.59	-16.78	-1.18	-1.48	-0.35	-0.45
NOPAT to Interest Expense	-3.84	-0.45	-0.84	-0.49	-0.71	-1.11	-11.74	-0.84	-1.23	-0.25	-0.36
EBIT Less CapEx to Interest Expense	-11.78	-3.89	-3.53	-2.47	-3.52	-2.98	-17.11	-1.82	-2.32	-0.58	-1.65
NOPAT Less CapEx to Interest Expense	-10.14	-3.70	-3.18	-2.25	-3.22	-2.51	-12.08	-1.48	-2.07	-0.47	-1.56
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%	0.00%	-0.20%	0.00%	0.00%	-3.57%	-7.54%

Financials Breakdown Chart

Key Financial Trends

Clean Energy Fuels (NASDAQ: CLNE) continues to show a mixed operating picture in Q1 2026. Revenue grew year over year, but the company remained unprofitable and posted negative operating cash flow. The balance sheet still carries a sizeable cash and investment position, which gives CLNE some flexibility, but leverage remains meaningful and profitability is not yet in sight.

Revenue rose to $117.6 million in Q1 2026 from $103.8 million in Q1 2025, showing solid top-line growth.
Gross profit improved to $32.7 million from $27.8 million a year ago, indicating better revenue conversion.
Cash, equivalents and short-term investments totaled about $128.4 million at the end of Q1 2026, while long-term investments added another $270.3 million of liquidity on the balance sheet.
Short-term debt was relatively modest at $9.4 million, suggesting limited near-term refinancing pressure.
Operating revenue has generally hovered around the low-$100 million range over the last year, so growth has been steady but not explosive.
The company continues to rely on investment activity and non-operating items to support cash flow, rather than generating strong cash from operations.
Weighted average shares outstanding were roughly flat year over year, so dilution has not been a major issue in the latest quarter.
CLNE reported a net loss of $12.5 million in Q1 2026, though this was an improvement from the $135.0 million loss in Q1 2025, which had been affected by a much larger impairment charge.
Operating cash flow was still negative at -$8.4 million in Q1 2026, compared with +$23.4 million in Q1 2025, a clear deterioration.
Long-term debt increased to $227.9 million from $271.6 million at the end of Q1 2025? Actually, debt is still substantial overall, and the company remains leveraged relative to its earnings power.

Longer-term trend: CLNE has shown some improvement from the very weak results seen in early 2025, when a large impairment charge drove a much deeper loss. Revenue has been fairly consistent across the past several quarters, and gross profit margins have remained in a workable range. However, operating income is still negative, and quarterly cash generation has been inconsistent. The company’s large investment portfolio and cash balance help cushion the business, but investors should note that the core business has yet to establish sustained profitability.

Bottom line: Clean Energy Fuels looks financially stable enough for now thanks to its cash and investment holdings, but the business is still not producing consistent profits or positive operating cash flow. For retail investors, this is a story of improving revenue against a backdrop of ongoing losses and execution risk.

07/14/26 07:18 AM 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 an upward trend, with a most recent value of -$222.64 million in 2025, rising from -$135.46 million in 2015. The previous period was -$83.69 million in 2024. Find out what analysts predict for Clean Energy Fuels in the coming months.

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%.

Clean Energy Fuels' total liabilities were at $491.65 million at the end of 2025, a 6.2% decrease from 2024, and a 26.8% decrease since 2015.

In the past 10 years, Clean Energy Fuels' cash and equivalents has ranged from $0.00 in 2017 to $157.76 million in 2025, and is currently $157.76 million as of their latest financial filing in 2025.

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 7/2/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Clean Energy Fuels (CLNE) Financials

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Clean Energy Fuels (CLNE) Financials

Annual Income Statements for Clean Energy Fuels

Quarterly Income Statements for Clean Energy Fuels

Annual Cash Flow Statements for Clean Energy Fuels

Quarterly Cash Flow Statements for Clean Energy Fuels

Annual Balance Sheets for Clean Energy Fuels

Quarterly Balance Sheets for Clean Energy Fuels

Annual Metrics And Ratios for Clean Energy Fuels

Quarterly Metrics And Ratios for Clean Energy Fuels

Financials Breakdown Chart

Key Financial Trends

Clean Energy Fuels Financials - Frequently Asked Questions

When does Clean Energy Fuels' fiscal year end?

How has Clean Energy Fuels' net income changed over the last 10 years?

What is Clean Energy Fuels' operating income?

How has Clean Energy Fuels' revenue changed over the last 10 years?

How much debt does Clean Energy Fuels have?

How much cash does Clean Energy Fuels have?

How has Clean Energy Fuels' book value per share changed over the last 10 years?

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