Clean Energy Fuels Corp. Common Stock (CLNE)

FairStock Score: 41/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I look for a durable business that earns consistent profits and can be bought at a sensible price. Clean Energy Fuels provides natural gas and renewable natural gas for vehicle fleets, but the numbers show a business still searching for profitability. In fiscal 2025, the year ended 2025-12-31, revenue was $424.8M and net income was -$222.0M, with diluted EPS of -$1.01. That loss followed net income of -$83.1M in fiscal 2024 and -$99.5M in fiscal 2023, so the last four years include no profit, as the FairStock Lynch category notes. In fiscal Q2 2026, the quarter ended 2026-06-30, revenue was $106.4M and net income was -$14.9M, or diluted EPS -$0.07. Revenue is not collapsing—fiscal Q2 2026 revenue was above fiscal Q2 2025 revenue of $102.6M—but growth is weak and the latest quarterly margin was -13.96%. At the 2026-10-13 close of $1.43, FairStock calculates a P/B of 0.57, so the stock trades below accounting book value. Yet P/B alone is not enough when returns are negative: ROE was -16.40%, ROCE -1.67%, and the P/E is -3.33. The balance sheet has D/E of 0.58, trailing free cash flow was $8.4M, and FCF yield was 2.6%, which is a small positive. But Piotroski F-Score is 3/9, Altman Z-Score is -1.00, and EV/EBITDA is 274.23, so financial strength and earnings-based valuation are poor. Without a moat I can identify from these figures, I see a speculative turnaround, not a Graham-style bargain.

In plain English: Clean Energy Fuels sells natural gas and renewable natural gas to vehicle fleets and runs fueling stations. The business looks weak: it has lost money for years, including a large loss in fiscal 2025 and another loss in the latest quarter. The stock price is low compared with the company's accounting net worth, but because there are no profits, it is hard to call it clearly cheap on the numbers.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer