CLNENasdaqGas & Other Services CombinedFiscal year ends December 31
Clean Energy Fuels Corp.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 6, 2026
$1.41−0.09 (-6.00%)
Close on Oct 19, 2026
- Market cap
- $310.56M
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
–
Operating margin
-37.6%−34.3 pts over 5 years
Net margin
-52.3%−48.9 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +2.2% | +0.4% | +7.8% | +1.0% | |
| Free cash flow | – | +39.2% | +4.6% | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | -1.9% | -34.9% | |
| Return on assets | – | -1.3% | -19.3% | |
| Current ratio | 2.93 | 3.29 | 2.32 | |
| Debt to equity | 0.67 | 0.17 | 0.41 | |
| Net debt to EBITDA | 6.47× | -0.91× | -1.16× | |
| Interest coverage | – | – | -3.0× | |
| Inventory turnover | 7.8× | – | – | |
| Capex to revenue | 5.9% | 4.5% | 6.0% | |
| Diluted shares | 119M | 201M | 221M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Clean Energy Fuels generated $301.91M from operations and spent $276.18M on capital expenditure, dividends and share buybacks. 94% of that went back into the business.
Generated
$301.91M
Used
$276.18M
Capital expenditure$259.20M94%Dividends$00%Share buybacks$16.98M6%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-52.3%
×Asset turnover0.37×
×Equity multiplier1.81×
=Return on equity, FY2025-34.9%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | -52.3% | 0.37× | 1.81× | -34.9% |
| FY2024 | -20.0% | 0.33× | 1.74× | -11.5% |
| FY2023 | -23.4% | 0.36× | 1.62× | -13.8% |
| FY2022 | -14.0% | 0.41× | 1.39× | -8.0% |
| FY2021 | -36.4% | 0.31× | 1.33× | -14.8% |
| FY2020 | -3.4% | 0.39× | 1.43× | -1.9% |
| FY2019 | 5.9% | 0.47× | 1.42× | 3.9% |
| FY2018 | -1.1% | 0.46× | 1.59× | -0.8% |
| FY2017 | -23.2% | 0.40× | 1.89× | -17.7% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
4of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero-$222.02M
- Cash generatingOperating cash flow above zero$85.53M
- Return on assets improvedROA up on the prior year-6.6% → -17.8%
- Earnings backed by cashOperating cash flow above net income$85.53M vs -$222.02M
- Less leverageLong-term debt to assets fell21.3% → 21.5%
- Better liquidityCurrent ratio rose2.67 → 2.32
- No dilutionShare count did not rise223M → 221M
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose0.33 → 0.34