CLNE · Clean Energy Fuels Corp. - Financials

Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.

Price · CLNE

1Y 3Y 5Y Max

Annual Quarterly

Income Statement

Line item	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Revenue	$424.83M	$415.87M	$425.16M	$420.16M	$255.65M	$291.72M
Cost of Revenue	-	-	-	-	-	-
Gross Profit	-	-	-	-	-	-
R&D	-	-	-	-	-	-
SG&A	$111.84M	$111.83M	$112.27M	$109.46M	$89.91M	$68.52M
Total Operating Expenses	$584.70M	$452.22M	$501.56M	$471.87M	$350.69M	$301.57M
D&A	$98.61M	$44.74M	$45.67M	$54.67M	$45.18M	$47.68M
Operating Income	($159.86M)	($36.35M)	($76.40M)	($51.71M)	($95.05M)	($9.84M)
Interest Expense	$52.69M	$32.18M	-	-	-	-
Income Tax	($2.82M)	$2.69M	($423.0K)	$220.0K	$119.0K	$309.0K
Net Income	($222.02M)	($83.07M)	($99.50M)	($58.73M)	($93.15M)	($9.86M)
EPS - Basic	($1.01)	($0.37)	($0.45)	($0.26)	($0.44)	($0.05)
EPS - Diluted	($1.01)	($0.37)	($0.45)	($0.26)	($0.44)	($0.05)

Balance Sheet

Line item	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Cash & Equivalents	$155.58M	$89.51M	$104.94M	$123.95M	$99.45M	$108.98M
Accounts Receivable	$100.79M	$107.68M	$98.43M	$91.43M	$87.43M	$61.78M
Inventory	$43.91M	$43.43M	$45.34M	$37.14M	$31.30M	$28.10M
Accounts Payable	$26.18M	$33.30M	$56.99M	$44.44M	$24.35M	$17.31M
Current Assets	$350.34M	$413.77M	$470.18M	$471.72M	$409.94M	$263.04M
Total Assets	$1.06B	$1.24B	$1.26B	$1.08B	$957.07M	$715.03M
Current Liabilities	$151.16M	$154.72M	$163.82M	$148.15M	$125.90M	$79.84M
Long-term Debt	$226.73M	$265.33M	$261.12M	$145.47M	$23.21M	$82.09M
Total Liabilities	$491.65M	$524.36M	$525.81M	$354.89M	$201.66M	$192.18M
Stockholders' Equity	$559.42M	$713.27M	$726.77M	$719.99M	$747.08M	$513.51M
Retained Earnings	($1.23B)	($1.01B)	($929.47M)	($829.98M)	($771.24M)	($678.10M)

Cash Flow

Line item	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Operating Cash Flow	$85.53M	$64.58M	$43.78M	$66.73M	$41.30M	$61.04M
Investing Cash Flow	$63.10M	($77.68M)	($202.01M)	($148.54M)	($207.66M)	$24.17M
Financing Cash Flow	($82.11M)	($1.94M)	$139.12M	$101.65M	$152.83M	($18.66M)
CapEx	$25.68M	$65.00M	$100.93M	$44.52M	$23.07M	$13.27M
Free Cash Flow	$59.85M	($418.0K)	($57.16M)	$22.21M	$18.22M	$47.77M

Ratios

Metric	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Profitability
Gross margin	-	-	-	-	-	-
Operating margin	-37.6%	-8.7%	-18.0%	-12.3%	-37.2%	-3.4%
EBITDA margin	-14.4%	2.0%	-7.2%	0.7%	-19.5%	13.0%
Net margin	-52.3%	-20.0%	-23.4%	-14.0%	-36.4%	-3.4%
Free cash flow margin	14.1%	-0.1%	-13.4%	5.3%	7.1%	16.4%
FCF / Net income	-0.27	0.01	0.57	-0.38	-0.20	-4.84
R&D / Revenue	-	-	-	-	-	-
SG&A / Revenue	26.3%	26.9%	26.4%	26.1%	35.2%	23.5%
Effective tax rate	-	-	-	-	-	-
Return on assets	-21.0%	-6.7%	-7.9%	-5.4%	-9.7%	-1.4%
Return on equity	-39.7%	-11.6%	-13.7%	-8.2%	-12.5%	-1.9%
Return on invested capital	-16.1%	-2.9%	-6.1%	-4.7%	-9.7%	-1.3%
Liquidity
Current ratio	2.32	2.67	2.87	3.18	3.26	3.29
Quick ratio	2.03	2.39	2.59	2.93	3.01	2.94
Cash ratio	1.03	0.58	0.64	0.84	0.79	1.36
Leverage
Debt / Equity	0.41	0.37	0.36	0.20	0.03	0.16
Debt / Assets	0.21	0.21	0.21	0.13	0.02	0.11
Debt / EBITDA	-	31.65	-	49.03	-	2.17
Interest coverage	-3.0x	-1.1x	-	-	-	-
Equity multiplier	1.89	1.74	1.73	1.50	1.28	1.39
Liabilities / Assets	0.47	0.42	0.42	0.33	0.21	0.27
Efficiency
Asset turnover	0.40	0.33	0.34	0.39	0.27	0.41
Inventory turnover	-	-	-	-	-	-
Days sales outstanding	87d	95d	84d	79d	125d	77d
Days inventory outstanding	-	-	-	-	-	-
Days payable outstanding	-	-	-	-	-	-
Cash conversion cycle	-	-	-	-	-	-
Valuation
P / E	-	-	-	-	-	-
P / B	0.8x	0.8x	1.2x	1.6x	1.7x	3.1x
P / S	1.1x	1.3x	2.0x	2.8x	5.1x	5.4x
EV / EBITDA	-	87.8x	-	397.1x	-	41.0x
Growth
Revenue growth (YoY)	2.2%	-2.2%	1.2%	64.4%	-12.4%	-15.2%
Revenue CAGR (3y)	0.4%	17.6%	13.4%	6.9%	-14.1%	-5.1%
Revenue CAGR (5y)	7.8%	3.9%	1.1%	4.2%	-8.7%	-5.4%
Gross profit growth (YoY)	-	-	-	-	-	-
Operating income growth (YoY)	-339.8%	52.4%	-47.8%	45.6%	-865.5%	-
Net income growth (YoY)	-167.3%	16.5%	-69.4%	36.9%	-844.3%	87.6%
EPS growth (YoY)	-173.0%	17.8%	-73.1%	40.9%	-780.0%	-150.0%
EPS CAGR (3y)	-	-	-	-	-	-
EPS CAGR (5y)	-	-	-	-	-	-
FCF growth (YoY)	-	99.3%	-	21.9%	-61.9%	-
FCF CAGR (5y)	4.6%	-	-	-	-4.1%	-
Book value growth (YoY)	-21.6%	-1.9%	0.9%	-3.6%	45.5%	-3.7%

Sales by segment

From XBRL dimensional facts in the 10-K period ending 2025-12-31.

Business segments

$424.83M total

Single Reportable Segment$424.83M · 100.0%

Product / service

$1.18B total

Product$365.47M · 30.9%

Volume Related Product Revenue$331.48M · 28.0%

Volume Related Fuel Sales$287.66M · 24.3%

Service$59.37M · 5.0%

Volume Related Operations And Maintenance Service Revenue$56.73M · 4.8%

Station Construction Sales$33.98M · 2.9%

Volume Related Renewable Identification Number Credits$32.23M · 2.7%

Volume Related Low Carbon Fuel Standard Credits$13.05M · 1.1%

Other Service Revenue Source$2.63M · 0.2%

Federal Alternative Fuels Tax Credit$198.0K · 0.0%

Geographic

$424.83M total

US$417.82M · 98.4%

CA$7.01M · 1.6%

Stability scores

Altman Z′

FY 2025 · bankruptcy risk

-0.45

Distress

Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.

Piotroski F-score

FY 2025 · 9-point quality

5/9

Neutral

✗Net income positive
✓Operating cash flow positive
✗ROA improved YoY
✓Cash flow > net income
✓Long-term debt decreased
✗Current ratio improved
✓No share dilution
-Gross margin improved
✓Asset turnover improved

Peer comparison

Same SIC group: Gas & Other Services Combined

Company	Revenue (last FY)	Net margin	ROE
SRE	$13.70B	13.4%	5.8%
OPAL	$348.98M	1.2%	-33.1%
UGI	$7.29B	9.3%	14.2%
LFG	$6.52M	-34.3%	1.4%
MNTK	$176.38M	1.0%	0.7%

Comparing Clean Energy Fuels Corp. against the 5 most active filers in the same SIC group.