Clean Energy Fuels (CLNE) AI Stock Analysis

• Market Cap: $627.17M
• Dividend Yield: N/A
• Average Volume (3M): 1.46M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.84
• Revenue Growth: 4.92%
• EPS Growth: -156.72%
• Country: US
• Employees: 577
• Sector: Energy
• Sector Strength: 52
• Industry: Oil & Gas Refining & Marketing
• EPS (TTM): 0.00
• Shares Outstanding: 219,289,220
• 10 Day Avg. Volume: 1,431,472
• 30 Day Avg. Volume: 1,457,387
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 0.90
• Enterprise Value/Revenue: 1.35
• Enterprise Value/Gross Profit: 5.62
• Enterprise Value/Ebitda: -7.45
• 1Y Price Target: $3.74
• Price Target Upside: 30.77% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 5

• Rating: 58 Neutral
• Price Target: $3.00 ▲(4.90% Upside)

The overall stock score of 58 reflects a mixed outlook for Clean Energy Fuels. The most significant factor is the company's financial performance, which shows growth in revenue and cash flow but struggles with profitability. Technical analysis indicates positive momentum, which supports the stock's potential for short-term gains. However, the valuation remains challenging due to ongoing losses and a negative P/E ratio. The positive sentiment from the earnings call is noted but not included in the weighted score.

Positive Factors

Revenue Growth

Strong revenue growth and increased RNG sales indicate expanding market presence and product adoption, supporting long-term business sustainability.

RNG Market Expansion

Expanding RNG market presence through transit deals and fueling infrastructure enhances competitive positioning and revenue potential.

Cash Position

A robust cash position provides financial flexibility to invest in growth opportunities and manage operational challenges effectively.

Negative Factors

Profitability Challenges

Ongoing profitability challenges with negative margins may hinder long-term financial health and limit reinvestment capabilities.

Increased Leverage

Rising leverage can strain financial stability, potentially impacting the company's ability to finance growth and manage economic downturns.

Regulatory Uncertainty

Regulatory uncertainties affecting truck market adoption could limit growth in key segments, impacting long-term revenue potential.

Clean Energy Fuels Business Overview & Revenue Model

Company Description

Clean Energy Fuels Corp. is a leading provider of natural gas as an alternative fuel for vehicle fleets in North America and Europe. The company operates in the clean energy sector, focusing on the production and distribution of renewable natural gas (RNG) and compressed natural gas (CNG) for heavy-duty vehicles, including trucks, buses, and refuse vehicles. Clean Energy Fuels offers a range of products and services that include fueling stations, fuel supply, and fuel management services, aimed at reducing greenhouse gas emissions and providing cost-effective energy solutions.

How the Company Makes Money

Clean Energy Fuels generates revenue primarily through the sale of natural gas fuel, including CNG and RNG, to commercial fleet operators. The company has established a network of fueling stations, which serve as a critical infrastructure for its clients, and earns revenue from the fuel dispensed at these locations. Additionally, Clean Energy Fuels benefits from long-term contracts with major customers in various sectors, ensuring a steady revenue stream. The company may also generate income through engineering services, technology licensing, and partnerships with municipalities and other organizations to develop fueling infrastructure. Significant partnerships with major fleet operators and collaborations with government entities to promote clean fuel usage further enhance its earnings potential.

Clean Energy Fuels Financial Statement Overview

Summary

Clean Energy Fuels shows mixed financial health with stable revenue but ongoing losses. The company maintains a solid equity base and conservative leverage, providing some financial stability. However, negative profit margins and returns on equity highlight the need for strategic improvements to enhance profitability and shareholder value. Cash flow management shows promise, with a recent positive free cash flow providing a potential buffer for future operations.

Income Statement

Clean Energy Fuels demonstrates a fluctuating financial performance with a consistent negative EBIT and net income over the periods examined. The gross profit margin for the latest TTM is 22.69%, showing some profitability before operating expenses. However, the net profit margin remains negative at -47.98%, indicating ongoing challenges in achieving profitability. Revenue has remained relatively stable, showing a slight decrease from the previous periods, which poses a challenge for growth expectations.

Balance Sheet

The balance sheet reveals moderate stability with a debt-to-equity ratio of 0.16 in the latest TTM, indicating a conservative use of leverage. The equity ratio stands at 53.45%, suggesting a strong equity base relative to total assets. Return on equity is negative at -33.45%, reflecting challenges in generating returns for shareholders amidst persistent losses.

Cash Flow

The cash flow statement shows a positive free cash flow of $24.44 million in the latest TTM, indicating some operational resilience. The operating cash flow to net income ratio is -0.43, reflecting the current inefficiencies in converting income into cash. However, the improvement in free cash flow compared to previous periods suggests efforts towards better cash management.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	420.58M	415.87M	425.16M	420.16M	255.65M	291.72M
Gross Profit	100.83M	83.58M	35.87M	57.75M	-5.14M	58.63M
EBITDA	-76.03M	-4.08M	-37.32M	5.01M	-41.48M	46.57M
Net Income	-203.54M	-83.07M	-99.50M	-58.73M	-93.15M	-9.86M
Balance Sheet
Total Assets	1.12B	1.24B	1.26B	1.08B	957.07M	715.03M
Cash, Cash Equivalents and Short-Term Investments	240.76M	217.48M	263.13M	265.52M	229.17M	138.50M
Total Debt	373.82M	365.13M	360.51M	201.76M	82.31M	115.59M
Total Liabilities	519.00M	524.36M	525.81M	354.89M	201.66M	192.18M
Stockholders Equity	590.82M	713.27M	726.77M	719.99M	747.08M	513.51M
Cash Flow
Free Cash Flow	29.98M	-418.00K	-77.50M	13.23M	12.39M	47.77M
Operating Cash Flow	103.40M	64.58M	43.78M	66.73M	41.30M	61.04M
Investing Cash Flow	-80.41M	-77.68M	-202.01M	-148.54M	-207.66M	24.17M
Financing Cash Flow	-13.85M	-1.94M	139.12M	101.65M	152.83M	-18.66M

Clean Energy Fuels Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 2.86
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CLNE, the sentiment is Positive. The current price of 2.86 is above the 20-day moving average (MA) of 2.80, above the 50-day MA of 2.68, and above the 200-day MA of 2.23, indicating a bullish trend. The MACD of 0.07 indicates Positive momentum. The RSI at 54.02 is Neutral, neither overbought nor oversold. The STOCH value of 39.53 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CLNE.

Clean Energy Fuels Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SGU	―	$388.83M	7.52	16.22%	6.29%	-0.87%	33.52%
Sector *	―	$15.17B	7.61	4.09%	5.20%	3.87%	-62.32%
CLNE	―	$627.17M	-3.14	-30.98%	―	4.92%	-156.72%
WKC	―	$1.44B	―	-23.84%	2.86%	-15.32%	-442.37%
CAPL	―	$807.34M	19.18	―	9.92%	-10.51%	101.44%
PARR	―	$2.03B	―	-1.59%	―	-13.09%	-103.24%
AMTX	―	$134.70M	―	―	―	-19.77%	-47.88%

Clean Energy Fuels Corporate Events

Clean Energy Fuels Announces Board Member Changes

On September 10, 2025, Clean Energy Fuels Corp. announced the resignation of board members Karine Boissy-Rousseau and Mathieu Soulas, replaced by Aimeric Ramadier and Marc de Guilhem de Lataillade, representing TotalEnergies. This change aligns with Clean Energy’s strategy to enhance its position in the renewable natural gas market, leveraging the new directors’ extensive experience in renewable fuels and global energy markets.

The most recent analyst rating on (CLNE) stock is a Hold with a $3.00 price target. To see the full list of analyst forecasts on Clean Energy Fuels stock, see the CLNE Stock Forecast page.

Clean Energy Fuels Q2 2025 Earnings Call Highlights

The recent earnings call for Clean Energy Fuels revealed a generally positive outlook for the company, underscored by strong revenue growth and promising developments in renewable natural gas (RNG) production. Despite these positive indicators, the company faces challenges such as an increased net loss and difficulties in the heavy-duty truck market, as well as lower-than-expected RNG revenue from dairy projects.

Clean Energy Fuels Reports Q2 2025 Earnings

Clean Energy Fuels Corp., a leading provider of renewable natural gas (RNG) for the transportation sector, is dedicated to reducing greenhouse gas emissions through its extensive network of fueling stations across the U.S. and Canada.