Overview Dividends

(CLNE) Clean Energy Fuels - Ratings and Ratios

Exchange: NASDAQ • Country: United States • Currency: USD • Type: Common Stock • ISIN: US1844991018

Renewable Natural Gas, Compressed Natural Gas, Liquefied Natural Gas, Fueling Stations

CLNE EPS (Earnings per Share)

EPS Growth (3Y CAGR): -4.50%
EPS Trend (3Y Correlation): 58.0%

CLNE Revenue

Revenue Growth (3Y CAGR): -7.11%
Revenue Trend (3Y Correlation): -42.3%

Description: CLNE Clean Energy Fuels October 25, 2025

Clean Energy Fuels Corp. (NASDAQ: CLNE) supplies natural-gas-based alternative fuels-renewable natural gas (RNG), compressed natural gas (CNG) and liquefied natural gas (LNG)-to medium- and heavy-duty vehicle fleets across the United States and Canada. The firm designs, builds, operates and maintains both public and private fueling stations, and it also sells and services compressors and other equipment used in RNG production and fueling infrastructure.

Key operating metrics from the most recent 10-K (2023) show total revenue of roughly **$1.1 billion**, with **≈1.5 billion cubic feet (Bcf)** of RNG delivered, representing a **≈30 % year-over-year increase** driven largely by expanding Low-Carbon Fuel Standard (LCFS) credit prices and growing demand from the heavy-truck and public-transit segments. The company’s pipeline-like revenue model is further bolstered by **federal and state incentives** (e.g., Renewable Identification Numbers, LCFS credits) that currently contribute an estimated **$150 million** to earnings, but are subject to policy volatility. A strategic focus on dairy-and-livestock waste RNG projects positions CLNE to capture a larger share of the emerging “green-fuel” market, which analysts project could grow at **>10 % CAGR** through 2030 as decarbonization mandates tighten.

For a deeper dive into CLNE’s valuation sensitivities and how its credit-driven earnings model stacks up against peers, you might find ValueRay’s interactive dashboards useful for uncovering hidden upside.

CLNE Stock Overview

Market Cap in USD	634m
Sub-Industry	Oil & Gas Refining & Marketing
IPO / Inception	2007-05-25

CLNE Stock Ratings

Growth Rating	-58.1%
Fundamental	38.3%
Dividend Rating	-
Return 12m vs S&P 500	-35.7%
Analyst Rating	4.56 of 5

CLNE Dividends

Currently no dividends paid

CLNE Growth Ratios

Growth Correlation 3m	62.3%
Growth Correlation 12m	-15.9%
Growth Correlation 5y	-90.5%
CAGR 5y	-32.63%
CAGR/Max DD 3y (Calmar Ratio)	-0.39
CAGR/Mean DD 3y (Pain Ratio)	-0.57
Sharpe Ratio 12m	-1.09
Alpha	-63.78
Beta	2.704
Volatility	135.34%
Current Volume	1671.2k
Average Volume 20d	1481.3k
Stop Loss	2.2 (-7.9%)
Signal	-0.13

Piotroski VR‑10 (Strict, 0-10) 5.0

Net Income (-203.5m TTM) > 0 and > 6% of Revenue (6% = 25.2m TTM)

FCFTA 0.03 (>2.0%) and ΔFCFTA 5.92pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)

NWC/Revenue 62.68% (prev 76.68%; Δ -14.00pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)

CFO/TA 0.09 (>3.0%) and CFO 103.4m > Net Income -203.5m (YES >=105%, WARN >=100%)

NO Net Debt/EBITDA fails (EBITDA <= 0)

Current Ratio 2.83 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)

Outstanding Shares last Quarter (220.4m) change vs 12m ago -1.30% (target <= -2.0% for YES)

Gross Margin 21.37% (prev 15.91%; Δ 5.47pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)

Asset Turnover 35.61% (prev 32.28%; Δ 3.33pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)

Interest Coverage Ratio -5.45 (EBITDA TTM -76.0m / Interest Expense TTM 31.8m) >= 6 (WARN >= 3)

Altman Z'' -5.21

(A) 0.24 = (Total Current Assets 407.9m - Total Current Liabilities 144.3m) / Total Assets 1.12b

(B) -1.05 = Retained Earnings (Balance) -1.17b / Total Assets 1.12b

warn (B) unusual magnitude: -1.05 — check mapping/units

(D) -2.25 = Book Value of Equity -1.17b / Total Liabilities 519.0m

Total Rating: -5.21 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 38.27

1. Piotroski 5.0pt = 0.0

2. FCF Yield 3.91% = 1.95

3. FCF Margin 7.13% = 1.78

4. Debt/Equity 0.63 = 2.31

5. Debt/Ebitda -3.18 = -2.50

6. ROIC - WACC (= -29.57)% = -12.50

7. RoE -31.01% = -2.50

8. Rev. Trend -42.30% = -3.17

9. EPS Trend 57.99% = 2.90

What is the price of CLNE shares?

As of November 08, 2025, the stock is trading at USD 2.39 with a total of 1,671,187 shares traded.
Over the past week, the price has changed by -16.43%, over one month by -9.81%, over three months by +17.16% and over the past year by -26.69%.

Is Clean Energy Fuels a good stock to buy?

No, based on ValueRay´s Fundamental Analyses, Clean Energy Fuels (NASDAQ:CLNE) is currently (November 2025) a stock to sell. It has a ValueRay Fundamental Rating of 38.27 and therefor a negative outlook according to the companies health.
Based on momentum, paid dividends and discounted-cash-flow analyses, the fair value of CLNE is around 1.76 USD . This means that CLNE is currently overvalued and has a potential downside of -26.36%.

Is CLNE a buy, sell or hold?

Clean Energy Fuels has received a consensus analysts rating of 4.56. Therefore, it is recommended to buy CLNE.

Strong Buy: 6
Buy: 2
Hold: 1
Sell: 0
Strong Sell: 0

What are the forecasts/targets for the CLNE price?

Issuer	Target	Up/Down from current
Wallstreet Target Price	4.5	87.9%
Analysts Target Price	4.5	87.9%
ValueRay Target Price	2	-16.3%

CLNE Fundamental Data Overview November 04, 2025

Market Cap USD = 633.7m (633.7m USD * 1.0 USD.USD)
P/E Forward = 6.8966
P/S = 1.5068
P/B = 0.965
P/EG = 2.42
Beta = 2.704
Revenue TTM = 420.6m USD
EBIT TTM = -173.0m USD
EBITDA TTM = -76.0m USD
Long Term Debt = 277.9m USD (from longTermDebt, last quarter)
Short Term Debt = 9.39m USD (from shortTermDebt, last quarter)
Debt = 373.8m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 241.7m USD (from netDebt column, last quarter)
Enterprise Value = 766.8m USD (633.7m + Debt 373.8m - CCE 240.8m)
Interest Coverage Ratio = -5.45 (Ebit TTM -173.0m / Interest Expense TTM 31.8m)
FCF Yield = 3.91% (FCF TTM 30.0m / Enterprise Value 766.8m)
FCF Margin = 7.13% (FCF TTM 30.0m / Revenue TTM 420.6m)
Net Margin = -48.40% (Net Income TTM -203.5m / Revenue TTM 420.6m)
Gross Margin = 21.37% ((Revenue TTM 420.6m - Cost of Revenue TTM 330.7m) / Revenue TTM)
Gross Margin QoQ = 17.76% (prev 26.75%)
Tobins Q-Ratio = 0.69 (Enterprise Value 766.8m / Total Assets 1.12b)
Interest Expense / Debt = 2.07% (Interest Expense 7.74m / Debt 373.8m)
Taxrate = -0.35% (negative due to tax credits) (72.0k / -20.3m)
NOPAT = -173.6m (EBIT -173.0m * (1 - -0.35%)) [loss with tax shield] [negative tax rate / tax credits]
Current Ratio = 2.83 (Total Current Assets 407.9m / Total Current Liabilities 144.3m)
Debt / Equity = 0.63 (Debt 373.8m / totalStockholderEquity, last quarter 590.8m)
Debt / EBITDA = -3.18 (negative EBITDA) (Net Debt 241.7m / EBITDA -76.0m)
Debt / FCF = 8.06 (Net Debt 241.7m / FCF TTM 30.0m)
Total Stockholder Equity = 656.4m (last 4 quarters mean from totalStockholderEquity)
RoA = -18.24% (Net Income -203.5m / Total Assets 1.12b)
RoE = -31.01% (Net Income TTM -203.5m / Total Stockholder Equity 656.4m)
RoCE = -18.52% (EBIT -173.0m / Capital Employed (Equity 656.4m + L.T.Debt 277.9m))
RoIC = -18.75% (negative operating profit) (NOPAT -173.6m / Invested Capital 926.1m)
WACC = 10.82% (E(633.7m)/V(1.01b) * Re(15.98%) + D(373.8m)/V(1.01b) * Rd(2.07%) * (1-Tc(-0.00)))
Discount Rate = 15.98% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -33.33 | Cagr: -0.59%
[DCF Debug] Terminal Value 43.51% ; FCFE base≈30.0m ; Y1≈19.7m ; Y5≈9.00m
Fair Price DCF = 0.36 (DCF Value 78.2m / Shares Outstanding 219.3m; 5y FCF grow -40.0% → 3.0% )
EPS Correlation: 57.99 | EPS CAGR: -4.50% | SUE: 1.07 | # QB: 3
Revenue Correlation: -42.30 | Revenue CAGR: -7.11% | SUE: 0.36 | # QB: 0

Additional Sources for CLNE Stock

News: Wall Street Journal | Benzinga | Yahoo Finance
Tweets: X | Stocktwits
Fund Manager Positions: Dataroma | Stockcircle