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CLNEClean Energy Fuels Corp.
$2.13$469M
Overview & Verdict
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CLNE logoClean Energy Fuels Corp.(CLNE)Earnings, Financials & Key Ratios

CLNE•NASDAQ
$2.13
Price updated Jul 7, 2026
SectorEnergyIndustryOil Refining & MarketingSub-IndustryRenewable and Alternative Fuels
AboutClean Energy Fuels Corp. provides natural gas as an alternative fuel for vehicle fleets and related fueling solutions, primarily in the United States and Canada. It supplies renewable natural gas (RNG), compressed natural gas (CNG), and liquefied natural gas (LNG) for medium and heavy-duty vehicles; and offers operation and maintenance services for public and private vehicle fleet customer stations. The company also designs, builds, operates, and maintains fueling stations; and sells and services compressors and other equipment that are used in RNG production and fueling stations. In addition, it transports and sells CNG, RNG, and LNG through virtual natural gas pipelines and interconnects; sells U.S. federal, state, and local government credits, such as RNG as a vehicle fuel, including Renewable Identification Numbers and Low Carbon Fuel Standards credits; and obtains federal, state, and local credits, grants, and incentives. Further, the company focuses on developing, owning, and operating dairy and other livestock waste RNG projects. It serves heavy-duty trucking, airports, refuse, public transit, industrial, and institutional energy users, as well as government fleets. As of December 31, 2021, the company served approximately 1,000 fleet customers operating approximately 48,000 vehicles; and owned, operated, or supplied approximately 548 fueling stations in 42 states in the United States and 25 fueling stations in Canada. Clean Energy Fuels Corp. was incorporated in 2001 and is headquartered in Newport Beach, California.Show more
  • Revenue$426M+2.6%
  • EBITDA$5M-43.5%
  • Net Income-$222M-167.3%
  • EPS (Diluted)-1.01-173.0%
  • Gross Margin4.21%-79.0%
  • EBITDA Margin1.11%-44.9%
  • Operating Margin-22.01%-151.8%
  • Net Margin-52.06%-160.6%
  • ROE-34.57%-202.3%

CLNE Price & Volume

Clean Energy Fuels Corp. (CLNE) stock price & volume — 10-year historical chart

Loading chart...

Persistent Margin Volatility Masks Infrastructure Scaling Efforts

Investment Thesis • Updated 2026Q1

VerdictNegative
Growth:Mixed
Profitability:Negative
Financial:Healthy
Cash Flow:Burning
Primary Risk:Regulatory credit price volatility

Key Thesis Takeaways

  • Clean Energy Fuels continues to navigate a challenging transition toward renewable natural gas, characterized by erratic revenue growth and a heavy reliance on volatile environmental credit markets.
  • While the company has successfully reduced its debt-to-equity ratio to 0.17 as of 2026Q1, the persistent inability to generate positive operating income—evidenced by a -3.0% operating margin—suggests that the business model remains structurally unproven.
  • Investors should monitor the company's ability to stabilize cash flows, as the recent decline in cash reserves to $57.7M highlights significant liquidity pressure amidst ongoing capital-intensive infrastructure requirements.

Verdict Logic

the company's inability to achieve consistent profitability, highlighted by a -10.6% net margin in 2026Q1 and a $12.4M quarterly net loss, suggests that the current valuation of 0.97x P/S does not adequately compensate for the underlying operational burn.

CLNE Growth Metrics

Clean Energy Fuels Corp. (CLNE) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years1.05%
5 Years7.89%
3 Years0.5%
TTM5.44%

Profit CAGR

10 Years-
5 Years-
3 Years-
TTM50.16%

EPS CAGR

10 Years-
5 Years-
3 Years-
TTM48.13%

Return on Capital

10 Years-5.99%
5 Years-7.82%
3 Years-6.76%
Last Year-9.41%

CLNE Recent Earnings

Clean Energy Fuels Corp. (CLNE) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 7/12 qtrs (58%)●Beat Revenue 9/12 qtrs (75%)
Q2 2026Latest
May 7, 2026
Metric
Actual
Est
EPS
$0.01+50.0%
$0.02
Rev
$118M+14.6%
$103M
Q1 2026
Feb 24, 2026
Metric
Actual
Est
EPS
$0.20-288.9%
$0.05
Rev
$112M+7.8%
$104M
Q4 2025
Nov 4, 2025
Metric
Actual
Est
EPS
$0.11-175.0%
$0.04
Rev
$106M+5.4%
$101M
Q3 2025
Aug 7, 2025
Metric
Actual
Est
EPS
$0.01+85.7%
$0.07
Rev
$103M+1.7%
$101M
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestMay 7, 2026
$0.01vs $0.02+50.0%
$118Mvs $103M+14.6%
Q1 2026Feb 24, 2026
$0.20vs $0.05-288.9%
$112Mvs $104M+7.8%
Q4 2025Nov 4, 2025
$0.11vs $0.04-175.0%
$106Mvs $101M+5.4%
Q3 2025Aug 7, 2025
$0.01vs $0.07+85.7%
$103Mvs $101M+1.7%
Based on last 12 quarters of dataView full earnings history →

Latest CLNE News

Recent stock market news and headlines for Clean Energy Fuels Corp. (CLNE)

Business Wire·Jun 23, 2026
Clean Energy Appoints Bart Frabotta as Chief Operating Officer

NEWPORT BEACH, Calif.--(BUSINESS WIRE)--Clean Energy Fuels Corp. (NASDAQ: CLNE), the country's leading provider of renewable natural gas (RNG) for the transportation market, today announced the appointment of Bart Frabotta as Chief Operating Officer (COO). Frabotta will oversee Clean Energy's operations division and will also become one of the company's named executive officers. Frabotta joined Clean Energy in 2010 and has served as Group Vice President of Operations since 2021. He has over 20.

Business Wire·Jun 16, 2026
Clean Energy Expands Into Puerto Rico Providing LNG Supply Systems for Energy Security

NEWPORT BEACH, Calif.--(BUSINESS WIRE)--Clean Energy Fuels Corp. (Nasdaq: CLNE), North America's largest provider of the cleanest fuel for the transportation market, announced it has been awarded two separate contracts to design and install liquefied natural gas (LNG) fueling systems for gas-to-power applications in Puerto Rico. The projects signed with P.R. Energy Partners and a global healthcare supplier will provide energy security and resiliency to both companies. Under the agreement with t.

Peers Comparison

Key metrics vs top competitors for Clean Energy Fuels Corp. (CLNE)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
CLNE logoCLNEClean Energy Fuels Corp.Current
$2.13$469.08M-2.112.56%-52.06%-34.57%—
UGI logoUGIUGI Corporation
$35.27$7.58B11.411.07%8.71%12.75%—
AMTX logoAMTXAemetis, Inc.
$1.77$120.62M-1.38-22.29%-35.43%——
OPAL logoOPALOPAL Fuels Inc.
$2.07$60.03M13.8016.37%5.75%3.92%—
HTOO logoHTOOFusion Fuel Green PLC
$2.69$4.87M-1.93762.68%-657.1%-298.09%—
REX logoREXREX American Resources Corporation
$46.08$1.52B18.431.24%14.13%13.67%—

Compare CLNE vs Peers

Clean Energy Fuels Corp. (CLNE) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs UGI

Most directly comparable listed peer for CLNE.

Scale Benchmark

vs WM

Larger-name benchmark to compare CLNE against a more recognizable public peer.

Peer Set

Compare Top 5

vs UGI, AMTX, OPAL, HTOO

CLNE SEC Filings & Documents

Clean Energy Fuels Corp. (CLNE) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

May 7, 2026·SEC

Material company update

Apr 23, 2026·SEC

Material company update

Feb 24, 2026·SEC

10-K Annual Reports

5
FY 2026

Feb 24, 2026·SEC

FY 2025

Feb 24, 2025·SEC

FY 2024

Feb 29, 2024·SEC

10-Q Quarterly Reports

6
FY 2026

May 7, 2026·SEC

FY 2025

Nov 4, 2025·SEC

FY 2025

Aug 7, 2025·SEC

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CLNE Frequently Asked Questions

Clean Energy Fuels Corp. (CLNE) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
What is Clean Energy Fuels Corp.'s revenue?

Clean Energy Fuels Corp. (CLNE) reported $439.1M in revenue for fiscal year 2025. This represents a 662% increase from $57.6M in 2004.

How fast is Clean Energy Fuels Corp. growing?

Clean Energy Fuels Corp. (CLNE) grew revenue by 2.6% over the past year. Growth has been modest.

Is CLNE profitable?

Clean Energy Fuels Corp. (CLNE) reported a net loss of $99.5M for fiscal year 2025.

Dividend & Returns
What is CLNE's return on equity?

Clean Energy Fuels Corp. (CLNE) has a return on equity (ROE) of -34.6%. Negative ROE indicates the company is unprofitable.

What is Clean Energy Fuels Corp.'s free cash flow?

Clean Energy Fuels Corp. (CLNE) generated $18.9M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

What if you invested $1,000 in CLNE back in 2004?

Total return calculator · dividends reinvested · 22+ years of data

See returns →