NASDAQ : CLNE
Clean Energy Fuels Corp. — Financial statements
Energy · Oil & Gas Refining & Marketing · United States
Last price 1.43 USD (Oct 30, 2026, 3:35 PM EDT) · Market cap 315.24M
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Financial statements
Clean Energy Fuels Corp. (CLNE) reported revenue of 442.37M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 442.37M | 424.83M | 415.87M | 425.16M | 420.16M | 255.65M |
| Cost of Revenue | 320.61M | 309.93M | 287.55M | 343.62M | 307.74M | 215.60M |
| Gross Profit | 121.76M | 114.91M | 128.32M | 81.54M | 112.42M | 40.04M |
| Selling, General & Admin | 106.06M | 111.84M | 111.83M | 112.27M | 109.46M | 89.91M |
| Operating Expenses | 150.42M | 156.04M | 156.57M | 157.94M | 164.13M | 135.09M |
| Operating Income | -28.66M | -41.14M | -28.25M | -76.40M | -51.71M | -95.05M |
| Interest Expense | -48.63M | -52.69M | -32.18M | -22.92M | -6.31M | -4.43M |
| Interest & Investment Income | 8.39M | 11.38M | 14.01M | 11.15M | 3.37M | 1.08M |
| Earnings From Equity Investments | -24.99M | -26.74M | -26.58M | -12.51M | -4.82M | -430.00K |
| Other Non Operating Income (Expenses) | 1.41M | 849.00K | 106.00K | 165.00K | 95.00K | 905.00K |
| EBT Excluding Unusual Items | -92.47M | -108.33M | -72.89M | -100.52M | -59.37M | -97.92M |
| Impairment of Goodwill | -64.33M | |||||
| Gain (Loss) on Sale of Investments | 1.60M | 1.60M | -8.10M | |||
| Gain (Loss) on Sale of Assets | 3.88M | |||||
| Asset Writedown | -3.70M | -54.40M | ||||
| Pretax Income | -94.57M | -225.46M | -81.00M | -100.52M | -59.37M | -94.04M |
| Income Tax Expense | 186.00K | -2.82M | 2.69M | -423.00K | 220.00K | 119.00K |
| Earnings From Continuing Operations | -94.76M | -222.64M | -83.69M | -100.10M | -59.59M | -94.16M |
| Minority Interest in Earnings | 677.00K | 612.00K | 619.00K | 601.00K | 857.00K | 1.01M |
| Net Income | -94.08M | -222.02M | -83.07M | -99.50M | -58.73M | -93.15M |
| Net Income to Common | -94.08M | -222.02M | -83.07M | -99.50M | -58.73M | -93.15M |
| Shares Outstanding (Basic) | 219.62M | 220.65M | 223.35M | 222.90M | 222.41M | 213.12M |
| Shares Outstanding (Diluted) | 219.62M | 220.65M | 223.35M | 222.90M | 222.41M | 213.12M |
| EPS (Basic) | -0.43 | -1.01 | -0.37 | -0.45 | -0.26 | -0.44 |
| EPS (Diluted) | -0.43 | -1.01 | -0.37 | -0.45 | -0.26 | -0.44 |
| Free Cash Flow | 8.35M | 25.64M | -15.38M | -77.50M | 13.23M | 12.39M |
| Free Cash Flow Per Share | 0.04 | 0.12 | -0.07 | -0.35 | 0.06 | 0.06 |
| Gross Margin | 27.52% | 27.05% | 30.86% | 19.18% | 26.76% | 15.66% |
| Operating Margin | -6.48% | -9.68% | -6.79% | -17.97% | -12.31% | -37.18% |
| Profit Margin | -21.27% | -52.26% | -19.98% | -23.40% | -13.98% | -36.44% |
| Free Cash Flow Margin | 1.89% | 6.04% | -3.70% | -18.23% | 3.15% | 4.85% |
| EBITDA | 13.90M | 1.17M | 14.69M | -32.53M | 1.17M | -51.46M |
| EBITDA Margin | 3.14% | 0.27% | 3.53% | -7.65% | 0.28% | -20.13% |
| D&A For EBITDA | 42.56M | 42.31M | 42.94M | 43.87M | 52.87M | 43.58M |
| EBIT | -28.66M | -41.14M | -28.25M | -76.40M | -51.71M | -95.05M |
| EBIT Margin | -6.48% | -9.68% | -6.79% | -17.97% | -12.31% | -37.18% |
| Revenue as Reported | 442.37M | 424.83M | 415.87M | 425.16M | 420.16M | 255.65M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 56.98M | 155.58M | 89.51M | 104.94M | 123.95M | 99.45M |
| Short-Term Investments | 81.00M | 552.00K | 127.97M | 158.19M | 139.57M | 129.72M |
| Cash & Short-Term Investments | 137.98M | 156.14M | 217.48M | 263.13M | 263.52M | 229.17M |
| Accounts Receivable | 107.27M | 107.99M | 112.68M | 112.01M | 102.93M | 93.23M |
| Other Receivables | 2.70M | 2.94M | 12.62M | 11.68M | 11.59M | 19.61M |
| Receivables | 109.97M | 110.93M | 127.67M | 126.02M | 114.52M | 112.85M |
| Inventory | 43.28M | 43.91M | 43.43M | 45.34M | 37.14M | 31.30M |
| Prepaid Expenses | 29.93M | 36.73M | 21.58M | 31.08M | 30.70M | 34.58M |
| Restricted Cash | 2.17M | 2.17M | 2.05M | 2.02M | 2.00M | |
| Other Current Assets | 799.00K | 466.00K | 1.55M | 2.59M | 23.84M | 2.04M |
| Total Current Assets | 324.12M | 350.34M | 413.77M | 470.18M | 471.72M | 409.94M |
| Property, Plant & Equipment | 396.42M | 411.96M | 455.92M | 424.08M | 316.65M | 304.30M |
| Long-Term Investments | 276.13M | 262.32M | 265.27M | 258.77M | 193.27M | 109.81M |
| Goodwill | 64.33M | 64.33M | 64.33M | 64.33M | ||
| Other Intangible Assets | 9.65M | 9.90M | 6.37M | 6.37M | 5.92M | 5.50M |
| Long-Term Accounts Receivable | 1.35M | 1.55M | 1.95M | 2.43M | 2.98M | 3.53M |
| Other Long-Term Assets | 527.00K | 491.00K | 1.07M | 2.04M | 5.12M | 11.75M |
| Total Assets | 1.03B | 1.06B | 1.24B | 1.26B | 1.08B | 957.07M |
| Accounts Payable | 21.15M | 26.18M | 33.30M | 56.99M | 44.44M | 24.35M |
| Accrued Expenses | 89.28M | 95.36M | 98.52M | 91.53M | 90.08M | 75.16M |
| Current Portion of Long-Term Debt | 56.00K | 52.00K | 40.00K | 38.00K | 93.00K | 12.85M |
| Current Portion of Leases | 10.77M | 10.40M | 8.95M | 8.45M | 5.15M | 4.40M |
| Current Unearned Revenue | 9.45M | 18.42M | 6.87M | 4.94M | 5.97M | 7.25M |
| Other Current Liabilities | 746.00K | 7.05M | 1.88M | 2.42M | 1.90M | |
| Total Current Liabilities | 130.71M | 151.16M | 154.72M | 163.82M | 148.15M | 125.90M |
| Long-Term Debt | 228.97M | 226.73M | 265.33M | 261.12M | 145.47M | 23.21M |
| Long-Term Leases | 82.77M | 88.45M | 90.81M | 90.90M | 51.05M | 41.86M |
| Long-Term Unearned Revenue | 76.00K | 151.00K | ||||
| Other Long-Term Liabilities | 24.68M | 25.32M | 13.42M | 9.81M | 10.22M | 10.68M |
| Total Liabilities | 467.13M | 491.65M | 524.36M | 525.81M | 354.89M | 201.66M |
| Common Stock | 22.00K | 22.00K | 22.00K | 22.00K | 22.00K | 22.00K |
| Additional Paid-In Capital | 1.82B | 1.80B | 1.73B | 1.66B | 1.55B | 1.52B |
| Retained Earnings | -1.26B | -1.23B | -1.01B | -929.47M | -829.98M | -771.24M |
| Comprehensive Income & Other | -4.86M | -2.99M | -4.30M | -2.12M | -3.72M | -1.62M |
| Total Common Equity | 553.33M | 559.42M | 713.27M | 726.77M | 719.99M | 747.08M |
| Minority Interest | 5.35M | 5.65M | 6.26M | 6.88M | 7.48M | 8.34M |
| Shareholders' Equity | 558.68M | 565.07M | 719.53M | 733.65M | 727.47M | 755.41M |
| Total Liabilities & Equity | 1.03B | 1.06B | 1.24B | 1.26B | 1.08B | 957.07M |
| Total Debt | 322.57M | 325.63M | 365.13M | 360.51M | 201.76M | 82.31M |
| Net Cash (Debt) | -184.59M | -169.49M | -147.65M | -97.38M | 61.76M | 146.85M |
| Net Cash Per Share | -0.84 | -0.77 | -0.66 | -0.44 | 0.28 | 0.69 |
| Filing Date Shares Outstanding | 220.45M | 219.43M | 223.61M | 223.24M | 222.73M | 222.50M |
| Total Common Shares Outstanding | 220.36M | 219.33M | 223.46M | 223.03M | 222.44M | 222.68M |
| Working Capital | 193.41M | 199.18M | 259.05M | 306.35M | 323.57M | 284.03M |
| Book Value Per Share | 2.51 | 2.55 | 3.19 | 3.26 | 3.24 | 3.35 |
| Tangible Book Value | 543.69M | 549.52M | 642.58M | 656.08M | 649.75M | 677.25M |
| Tangible Book Value Per Share | 2.47 | 2.51 | 2.88 | 2.94 | 2.92 | 3.04 |
| Land | 20.46M | 20.54M | 19.19M | 7.40M | 3.48M | 3.48M |
| Machinery | 723.64M | 759.54M | 743.63M | 691.11M | 627.33M | 615.25M |
| Construction In Progress | 43.32M | 38.25M | 134.06M | 125.39M | 91.11M | 74.96M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -94.08M | -222.02M | -83.07M | -99.50M | -58.73M | -93.15M |
| Depreciation & Amortization | 42.56M | 42.31M | 42.94M | 43.87M | 52.87M | 43.58M |
| Other Amortization | 6.84M | 7.19M | 6.58M | 3.37M | 1.86M | 1.60M |
| Loss (Gain) From Sale of Assets | 53.00K | 2.71M | 468.00K | 863.00K | 12.00K | -2.52M |
| Asset Writedown & Restructuring Costs | 3.70M | 118.73M | 380.00K | 634.00K | ||
| Loss (Gain) From Sale of Investments | -2.06M | -2.06M | 8.10M | |||
| Loss (Gain) on Equity Investments | 24.99M | 26.74M | 26.58M | 12.51M | 4.82M | 430.00K |
| Stock-Based Compensation | 60.06M | 74.97M | 71.57M | 83.94M | 50.77M | 98.64M |
| Provision & Write-off of Bad Debts | 3.50M | 4.01M | 2.68M | 1.77M | 2.04M | 1.26M |
| Other Operating Activities | 29.72M | 26.20M | 5.18M | 4.98M | 3.84M | 7.19M |
| Change in Accounts Receivable | -27.86M | -2.79M | -8.18M | -7.71M | -1.07M | -24.26M |
| Change in Inventory | -1.96M | -4.43M | -57.00K | -11.39M | -9.32M | -5.70M |
| Change in Accounts Payable | 79.00K | -1.59M | -18.78M | 14.77M | 9.32M | 6.62M |
| Change in Unearned Revenue | 575.00K | 11.48M | 2.21M | -883.00K | -1.28M | 4.55M |
| Change in Other Net Operating Assets | 507.00K | 4.10M | 7.99M | -3.46M | 11.59M | 3.06M |
| Operating Cash Flow | 46.62M | 85.53M | 64.58M | 43.78M | 66.73M | 41.30M |
| Capital Expenditures | -38.27M | -59.88M | -79.96M | -121.28M | -53.50M | -28.91M |
| Sale of Property, Plant & Equipment | 161.00K | 5.13M | 576.00K | 262.00K | 4.25M | 3.83M |
| Investment in Securities | -12.75M | 114.95M | 3.54M | -85.42M | -98.09M | -179.10M |
| Other Investing Activities | 2.60M | 3.36M | 8.25M | 5.67M | ||
| Investing Cash Flow | -46.32M | 63.10M | -77.68M | -202.01M | -148.54M | -207.66M |
| Short-Term Debt Issued | 1.70M | 1.45M | ||||
| Long-Term Debt Issued | 300.25M | 159.88M | 4.40M | |||
| Total Debt Issued | 300.25M | 161.58M | 5.85M | |||
| Short-Term Debt Repaid | -1.70M | -1.45M | ||||
| Long-Term Debt Repaid | -66.22M | -2.23M | -151.15M | -50.00M | -50.74M | |
| Total Debt Repaid | -66.31M | -66.22M | -2.23M | -151.15M | -51.70M | -52.19M |
| Net Debt Issued (Repaid) | -66.31M | -66.22M | -2.23M | 149.11M | 109.88M | -46.34M |
| Issuance of Common Stock | 64.00K | 242.00K | 1.36M | 204.46M | ||
| Repurchase of Common Stock | -1.24M | -8.44M | -340.00K | -175.00K | -6.12M | -2.92M |
| Other Financing Activities | -7.02M | -7.46M | 566.00K | -10.05M | -3.48M | -2.37M |
| Financing Cash Flow | -74.57M | -82.11M | -1.94M | 139.12M | 101.65M | 152.83M |
| Foreign Exchange Rate Adjustments | -784.00K | -323.00K | -356.00K | 128.00K | -345.00K | 8.00K |
| Net Cash Flow | -75.05M | 66.19M | -15.40M | -18.99M | 19.49M | -13.52M |
| Free Cash Flow | 8.35M | 25.64M | -15.38M | -77.50M | 13.23M | 12.39M |
| Free Cash Flow Margin | 1.89% | 6.04% | -3.70% | -18.23% | 3.15% | 4.85% |
| Free Cash Flow Per Share | 0.04 | 0.12 | -0.07 | -0.35 | 0.06 | 0.06 |
| Levered Free Cash Flow | -11.14M | 3.00M | 4.51M | -38.57M | 22.55M | 32.58M |
| Unlevered Free Cash Flow | 14.21M | 30.64M | 19.85M | -25.82M | 26.43M | 35.35M |
| Cash Interest Paid | 21.18M | 14.96M | 27.40M | 16.36M | 1.87M | 3.91M |
| Cash Income Tax Paid | 84.00K | 41.00K | 60.00K | 77.00K | 68.00K | 15.00K |
| Change in Working Capital | -28.66M | 6.76M | -16.82M | -8.68M | 9.24M | -15.74M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 319.65M | 460.53M | 560.88M | 854.18M | 1.16B | 1.37B |
| Enterprise Value | 504.23M | 615.77M | 689.74M | 911.52M | 1.11B | 1.19B |
| Last Close Price | 1.44 | 2.10 | 2.51 | 3.83 | 5.20 | 6.13 |
| Forward PE | 110.55 | 110.55 | 59.84 | 213.12 | 235.77 | |
| PS Ratio | 0.72 | 1.08 | 1.35 | 2.01 | 2.75 | 5.35 |
| PB Ratio | 0.57 | 0.81 | 0.78 | 1.16 | 1.59 | 1.81 |
| P/TBV Ratio | 0.59 | 0.84 | 0.87 | 1.30 | 1.78 | 2.02 |
| P/FCF Ratio | 38.28 | 17.96 | 87.44 | 110.35 | ||
| P/OCF Ratio | 6.86 | 5.38 | 8.69 | 19.51 | 17.33 | 33.11 |
| PEG Ratio | 0.62 | 0.62 | 0.62 | 3.24 | 13.07 | |
| EV/Sales Ratio | 1.14 | 1.45 | 1.66 | 2.14 | 2.64 | 4.66 |
| EV/EBITDA Ratio | 36.27 | 526.30 | 46.97 | 949.05 | ||
| EV/FCF Ratio | 60.38 | 24.01 | 83.73 | 96.07 | ||
| Debt / Equity Ratio | 0.58 | 0.58 | 0.51 | 0.49 | 0.28 | 0.11 |
| Debt / EBITDA Ratio | 8.44 | 12.28 | 8.67 | 14.26 | ||
| Debt / FCF Ratio | 38.63 | 12.70 | 15.25 | 6.64 | ||
| Net Debt / Equity Ratio | 0.33 | 0.30 | 0.20 | 0.13 | -0.09 | -0.19 |
| Net Debt / EBITDA Ratio | 13.28 | 144.87 | 10.05 | -2.99 | -52.92 | 2.85 |
| Net Debt / FCF Ratio | 22.10 | 6.61 | -9.60 | -1.26 | -4.67 | -11.85 |
| Asset Turnover | 0.41 | 0.37 | 0.33 | 0.36 | 0.41 | 0.31 |
| Inventory Turnover | 7.23 | 7.10 | 6.48 | 8.33 | 8.99 | 7.26 |
| Quick Ratio | 1.90 | 1.77 | 2.21 | 2.36 | 2.55 | 2.72 |
| Current Ratio | 2.48 | 2.32 | 2.67 | 2.87 | 3.18 | 3.26 |
| Return on Equity (ROE) | -16.40% | -34.66% | -11.52% | -13.70% | -8.04% | -14.73% |
| Return on Assets (ROA) | -1.67% | -2.23% | -1.41% | -4.08% | -3.17% | -7.11% |
| Return on Invested Capital (ROIC) | -3.81% | -5.14% | -3.33% | -10.21% | -8.12% | -17.15% |
| Return on Capital Employed (ROCE) | -3.20% | -4.50% | -2.60% | -7.00% | -5.50% | -11.40% |
| Earnings Yield | -29.54% | -48.21% | -14.81% | -11.65% | -5.08% | -6.81% |
| FCF Yield | 2.61% | 5.57% | -2.74% | -9.07% | 1.14% | 0.91% |
| Buyback Yield / Dilution | 1.40% | 1.21% | -0.20% | -0.22% | -4.36% | -6.21% |