Tearsheet

Clean Energy Fuels (CLNE)

Market Price (9/16/2025): $2.41 | Market Cap: $531.1 Mil
Sector: Energy | Industry: Oil & Gas Refining & Marketing

Clean Energy Fuels (CLNE)

Market Price (9/16/2025): $2.41
Market Cap: $531.1 Mil
Sector: Energy
Industry: Oil & Gas Refining & Marketing

Investment Highlights

0	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 24%	Weak multi-year price returns 2Y Excs Rtn is -95%, 3Y Excs Rtn is -128%	Not profitable at operating income level Op Inc LTMOperating Income, Last Twelve Months is -85 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -20%
1			Yield minus risk free rate is negative ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -43%

0	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 24%
1	Weak multi-year price returns 2Y Excs Rtn is -95%, 3Y Excs Rtn is -128%
2	Not profitable at operating income level Op Inc LTMOperating Income, Last Twelve Months is -85 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -20%
3	Yield minus risk free rate is negative ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -43%

Market Valuation

	9/16/25	2024	2023	2022	2021
Share Price CYE	$2.41	$2.51	$3.83	$5.20	$6.13
Market Cap CYE ($ Mil)	531.1	560.9	854.2	1,156.6	1,368.0
Total Debt ($ Mil)	373.8	365.1	360.5	201.8	82.3
Total Cash ($ Mil)	240.8	217.5	263.1	263.5	229.2
Enterprise Value ($ Mil)	664.2	926.0	1,214.7	1,358.4	1,450.3
Valuation Ratios
P/S TTM	1.3	1.4	2.0	2.8	5.1
P/EBIT TTM	-3.1	-11.5	-11.0	-21.8	-14.6
P/E TTM	-2.6	-6.8	-8.6	-19.7	-14.0
Sector Ratios
P/S TTM (Sector)	1.3	1.5	1.5	1.2	1.2
P/EBIT TTM (Sector)	6.9	6.5	5.3	4.1	4.1
P/E TTM (Sector)	9.8	9.5	8.0	5.5	3.2

	9/16/25	2024	2023
Share Price CYE	$2.41	$2.51	$3.83
Market Cap CYE ($ Mil)	531.1	560.9	854.2
Total Debt ($ Mil)	373.8	365.1	360.5
Total Cash ($ Mil)	240.8	217.5	263.1
Enterprise Value ($ Mil)	664.2	926.0	1,214.7
Valuation Ratios
P/S TTM	1.3	1.4	2.0
P/EBIT TTM	-3.1	-11.5	-11.0
P/E TTM	-2.6	-6.8	-8.6
Sector Ratios
P/S TTM (Sector)	1.3	1.5	1.5
P/EBIT TTM (Sector)	6.9	6.5	5.3
P/E TTM (Sector)	9.8	9.5	8.0

Stock Price
Market Cap

Stock Price Chart

Return (1Y):

Market Cap Chart

Business Description

Clean 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. Show more

Price Returns Compared

Expand for Detailed View

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
CLNE Return	236%	-22%	-15%	-26%	-34%	-4%	3%
Peers Return	-32%	53%	57%	10%	-21%	29%	82%
S&P 500 Return	16%	27%	-19%	24%	23%	12%	104%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: DK, GPRE, MPC, PSX, VLO. See CLNE Returns vs. Peers.
[3] 2025 data is for the year up to 9/15/2025 (YTD)

Latest Trefis Analyses

	Title	Topic	Date
0	DASHBOARDS
1	Clean Energy Fuels vs. ODP: Neither Seems Like A Good Bet	Peer Comparison
2	Clean Energy Fuels vs. ACCO Brands: Neither Seems Like A Good Bet	Peer Comparison
3	Clean Energy Fuels vs. 1-800-Flowers.com: With Return Forecast Of 11%, 1-800-Flowers.com Is A Better Bet	Peer Comparison
4	Day 14 of Loss Streak for Clean Energy Fuels Stock with -46% Return (vs. -23% YTD) [2/27/2025]	Notification
5	Clean Energy Fuels vs. Delek US: Both Seem Similar Bets	Peer Comparison
6	Clean Energy Fuels vs. Green Plains: With Return Forecast Of 11%, Clean Energy Fuels Is A Better Bet	Peer Comparison
7	Day 13 of Loss Streak for Clean Energy Fuels Stock with -43% Return (vs. -20% YTD) [2/26/2025]	Notification
8	Clean Energy Fuels vs. Gogo: With Return Forecast Of 23%, Clean Energy Fuels Is A Better Bet	Peer Comparison
9	Clean Energy Fuels vs. Glaukos: With Return Forecast Of 23%, Clean Energy Fuels Is A Better Bet	Peer Comparison
10	Clean Energy Fuels vs. EverQuote: With Return Forecast Of 70%, EverQuote Is A Better Bet	Peer Comparison
11	ARTICLES
12	What’s Happening With Clean Energy Fuels Stock?		October 21st, 2021
13	Is Clean Energy Fuels Stock A Buy After Declining 8% Last Week?		August 17th, 2021
14	Is Clean Energy Fuels Stock Worth A Look After Recent Sell Off?		July 6th, 2021
15	Is A Correction In The Cards For Clean Energy Fuels Stock?		June 21st, 2021
16	Clean Energy Fuels: A Meme Stock Worth Investing In?		June 7th, 2021

	Title
0	DASHBOARDS
1	What’s Happening With Clean Energy Fuels Stock?
2	Is Clean Energy Fuels Stock A Buy After Declining 8% Last Week?
3	Is Clean Energy Fuels Stock Worth A Look After Recent Sell Off?
4	Is A Correction In The Cards For Clean Energy Fuels Stock?
5	Clean Energy Fuels: A Meme Stock Worth Investing In?
6	ARTICLES
7	Clean Energy Fuels vs. ODP: Neither Seems Like A Good Bet
8	Clean Energy Fuels vs. ACCO Brands: Neither Seems Like A Good Bet
9	Clean Energy Fuels vs. 1-800-Flowers.com: With Return Forecast Of 11%, 1-800-Flowers.com Is A Better Bet
10	Day 14 of Loss Streak for Clean Energy Fuels Stock with -46% Return (vs. -23% YTD) [2/27/2025]
11	Clean Energy Fuels vs. Delek US: Both Seem Similar Bets
12	Clean Energy Fuels vs. Green Plains: With Return Forecast Of 11%, Clean Energy Fuels Is A Better Bet
13	Day 13 of Loss Streak for Clean Energy Fuels Stock with -43% Return (vs. -20% YTD) [2/26/2025]
14	Clean Energy Fuels vs. Gogo: With Return Forecast Of 23%, Clean Energy Fuels Is A Better Bet
15	Clean Energy Fuels vs. Glaukos: With Return Forecast Of 23%, Clean Energy Fuels Is A Better Bet
16	Clean Energy Fuels vs. EverQuote: With Return Forecast Of 70%, EverQuote Is A Better Bet

Recent Active Movers

1 Day Top Gainers

#	Ticker	Company	1D Rtn	YTD Rtn
1	NXTT	Next Technology	18947.6%	1080.3%
2	VCIG	VCI Global	2528.6%	-66.8%
3	BDSX	Biodesix	1926.1%	-75.2%
4	CLSD	Clearside Biomedical	1136.3%	-72.3%
5	SDOT	Sadot	1033.9%	-78.2%
6	CHEK	Check-Cap	184.2%	114.2%
7	ATCH	AtlasClear	153.8%	-89.7%
8	HSDT	Helius Medical Technologies	141.7%	-96.4%
9	MTVA	MetaVia	115.5%	-26.1%
10	IHT	InnSuites Hospitality Trust	66.0%	54.9%

1 Day Top Losers

#	Ticker	Company	1D Rtn	YTD Rtn
1	ATYR	aTyr Pharma	-83.2%	-72.0%
2	NAKA	Kindly MD	-55.4%
3	REX	REX American Resources	-49.8%	-26.7%
4	FAAS	DigiAsia	-39.2%	-83.2%
5	EVTV	Envirotech Vehicles	-32.8%	-77.4%
6	WLDS	Wearable Devices	-30.0%	-24.4%
7	ZONE	CleanCore Solutions	-29.5%	107.8%
8	CGTX	Cognition Therapeutics	-29.0%	119.6%
9	SIDU	Sidus Space	-28.7%	-80.8%
10	BNGO	Bionano Genomics	-28.6%	-84.0%

1 Week Top Gainers

#	Ticker	Company	1W Rtn	YTD Rtn
1	NXTT	Next Technology	18985.5%	1080.3%
2	BDSX	Biodesix	1658.4%	-75.2%
3	VCIG	VCI Global	1460.0%	-66.8%
4	CLSD	Clearside Biomedical	1075.2%	-72.3%
5	SDOT	Sadot	806.7%	-78.2%
6	WLDS	Wearable Devices	539.8%	-24.4%
7	QMMM	QMMM	536.6%	5505.5%
8	ATCH	AtlasClear	382.9%	-89.7%
9	OPI	Office Properties Income Trust	274.5%	-8.3%
10	CWD	CaliberCos	246.5%	-46.7%

1 Week Top Losers

#	Ticker	Company	1W Rtn	YTD Rtn
1	DGNX	Diginex	-83.7%
2	ATYR	aTyr Pharma	-81.4%	-72.0%
3	LGCL	Lucas GC	-73.2%	-78.3%
4	NAKA	Kindly MD	-72.8%
5	OCTO	Eightco	-67.8%	562.1%
6	YYGH	YY	-67.0%	-78.2%
7	SNTG	Sentage	-58.1%	57.5%
8	REX	REX American Resources	-50.7%	-26.7%
9	BINI	Bollinger Innovations	-49.2%	-100.0%
10	SLXN	Silexion Therapeutics	-49.2%	-88.0%

1 Month Top Gainers

#	Ticker	Company	1M Rtn	YTD Rtn
1	PMI	Picard Medical	11963.5%	11963.5%
2	GIBO	GIBO	7309.3%
3	CHSN	Chanson International	5551.3%	-99.3%
4	LNZA	LanzaTech Global	5145.9%	-85.7%
5	QMMM	QMMM	2490.3%	5505.5%
6	NXTT	Next Technology	2167.7%	1080.3%
7	VTAK	Catheter Precision	1543.9%	-70.5%
8	CURX	Curanex Pharmaceuticals	1282.0%	1282.0%
9	VCIG	VCI Global	1278.3%	-66.8%
10	OCTO	Eightco	800.6%	562.1%

1 Month Top Losers

#	Ticker	Company	1M Rtn	YTD Rtn
1	CJET	Chijet Motor	-93.3%	-95.1%
2	ELPW	Elong Power	-92.4%	-76.5%
3	STFS	Star Fashion Culture	-92.1%	-97.9%
4	ETS	Elite Express	-92.0%	-92.0%
5	NAKA	Kindly MD	-91.7%
6	BINI	Bollinger Innovations	-90.5%	-100.0%
7	FLYE	Fly-E	-89.8%	-81.2%
8	JEM	707 Cayman	-89.8%	-98.3%
9	NUTR	NusaTrip	-86.7%	-86.7%
10	CUPR	Cuprina	-84.9%

Recent Active Movers

1 Day Top Gainers

#	Ticker	Company	1D Rtn	YTD Rtn
1	NXTT	Next Technology	18947.6%	1080.3%
2	VCIG	VCI Global	2528.6%	-66.8%
3	BDSX	Biodesix	1926.1%	-75.2%
4	CLSD	Clearside Biomedical	1136.3%	-72.3%
5	SDOT	Sadot	1033.9%	-78.2%
6	CHEK	Check-Cap	184.2%	114.2%
7	ATCH	AtlasClear	153.8%	-89.7%
8	HSDT	Helius Medical Technologies	141.7%	-96.4%
9	MTVA	MetaVia	115.5%	-26.1%
10	IHT	InnSuites Hospitality Trust	66.0%	54.9%

1 Day Top Losers

#	Ticker	Company	1D Rtn	YTD Rtn
1	ATYR	aTyr Pharma	-83.2%	-72.0%
2	NAKA	Kindly MD	-55.4%
3	REX	REX American Resources	-49.8%	-26.7%
4	FAAS	DigiAsia	-39.2%	-83.2%
5	EVTV	Envirotech Vehicles	-32.8%	-77.4%
6	WLDS	Wearable Devices	-30.0%	-24.4%
7	ZONE	CleanCore Solutions	-29.5%	107.8%
8	CGTX	Cognition Therapeutics	-29.0%	119.6%
9	SIDU	Sidus Space	-28.7%	-80.8%
10	BNGO	Bionano Genomics	-28.6%	-84.0%

1 Week Top Gainers

#	Ticker	Company	1W Rtn	YTD Rtn
1	NXTT	Next Technology	18985.5%	1080.3%
2	BDSX	Biodesix	1658.4%	-75.2%
3	VCIG	VCI Global	1460.0%	-66.8%
4	CLSD	Clearside Biomedical	1075.2%	-72.3%
5	SDOT	Sadot	806.7%	-78.2%
6	WLDS	Wearable Devices	539.8%	-24.4%
7	QMMM	QMMM	536.6%	5505.5%
8	ATCH	AtlasClear	382.9%	-89.7%
9	OPI	Office Properties Income Trust	274.5%	-8.3%
10	CWD	CaliberCos	246.5%	-46.7%

1 Week Top Losers

#	Ticker	Company	1W Rtn	YTD Rtn
1	DGNX	Diginex	-83.7%
2	ATYR	aTyr Pharma	-81.4%	-72.0%
3	LGCL	Lucas GC	-73.2%	-78.3%
4	NAKA	Kindly MD	-72.8%
5	OCTO	Eightco	-67.8%	562.1%
6	YYGH	YY	-67.0%	-78.2%
7	SNTG	Sentage	-58.1%	57.5%
8	REX	REX American Resources	-50.7%	-26.7%
9	BINI	Bollinger Innovations	-49.2%	-100.0%
10	SLXN	Silexion Therapeutics	-49.2%	-88.0%

Peer Comparisons for Clean Energy Fuels

Financials

	CLNE	DK	GPRE	MPC	PSX	VLO	Median
Name	Clean En.	Delek US	Green Pl.	Marathon.	Phillips.	Valero E.
Mkt Price	2.42	28.48	9.88	179.94	131.18	157.57	79.83
Mkt Cap	0.5	1.7	0.7	55.2	53.4	49.2	25.4
Rev LTM	421	10,823	2,397	133,560	132,966	123,779	67,301
Op Inc LTM	-85	-484	-91	4,144	798	2,083	357
FCF LTM	26	-816	-44	3,647	1,488	3,341	757
FCF 3Y Avg	-21	-182	-36	8,348	4,660	6,948	2,319
CFO LTM	103	-196	40	6,466	3,362	4,253	1,732
CFO 3Y Avg	67	258	69	10,751	6,715	7,980	3,487

Growth & Margins

	CLNE	DK	GPRE	MPC	PSX	VLO	Median
Name	Clean En.	Delek US	Green Pl.	Marathon.	Phillips.	Valero E.
Rev Chg LTM	4.1%	-27.9%	-15.0%	-9.6%	-12.4%	-11.6%	-12.0%
Rev Chg 3Y Avg	6.8%	-12.0%	-9.8%	-5.7%	-3.2%	-7.2%	-6.4%
Rev Chg Q	4.8%	-16.4%	-10.7%	-10.9%	-12.6%	-13.3%	-11.7%
QoQ Delta Rev Chg LTM	1.1%	-4.8%	-2.7%	-3.0%	-3.5%	-3.6%	-3.2%
Op Mgn LTM	-20.1%	-4.5%	-3.8%	3.1%	0.6%	1.7%	-1.6%
Op Mgn 3Y Avg	-15.2%	-1.0%	-3.4%	6.6%	3.5%	5.6%	1.3%
QoQ Delta Op Mgn LTM	-0.6%	-0.7%	0.1%	-0.0%	0.2%	-0.1%	-0.1%
CFO/Rev LTM	24.4%	-1.8%	1.6%	4.8%	2.5%	3.4%	3.0%
CFO/Rev 3Y Avg	16.1%	1.4%	2.5%	7.2%	4.5%	5.6%	5.0%
FCF/Rev LTM	6.1%	-7.5%	-1.8%	2.7%	1.1%	2.7%	1.9%
FCF/Rev 3Y Avg	-4.7%	-1.9%	-1.1%	5.6%	3.1%	4.8%	1.0%

Valuation

	CLNE	DK	GPRE	MPC	PSX	VLO	Median
Name	Clean En.	Delek US	Green Pl.	Marathon.	Phillips.	Valero E.
Mkt Cap	0.5	1.7	0.7	55.2	53.4	49.2	25.4
P/S	1.3	0.2	0.3	0.4	0.4	0.4	0.4
P/EBIT	-3.1	-2.8	-9.3	9.8	17.0	35.3	3.5
P/E	-2.6	-2.2	-4.3	25.9	31.1	64.3	11.8
P/CFO	5.2	-8.8	16.6	8.5	15.9	11.6	10.1
Total Yield	-38.2%	-41.0%	-22.3%	5.9%	6.8%	4.4%	-9.0%
Dividend Yield	0.0%	3.7%	0.8%	2.0%	3.6%	2.8%	2.4%
FCF Yield 3Y Avg	-1.4%	-15.6%	-3.9%	15.9%	9.7%	15.4%	4.1%
D/E	0.7	1.8	0.9	0.5	0.4	0.2	0.6
Net D/E	0.2	1.5	0.7	0.5	0.4	0.1	0.4

Returns

	CLNE	DK	GPRE	MPC	PSX	VLO	Median
Name	Clean En.	Delek US	Green Pl.	Marathon.	Phillips.	Valero E.
1M Rtn	0.8%	30.9%	17.1%	10.8%	6.1%	15.2%	13.0%
3M Rtn	19.2%	30.3%	70.1%	7.9%	7.2%	15.3%	17.3%
6M Rtn	30.8%	83.1%	76.4%	23.8%	3.5%	20.5%	27.3%
12M Rtn	-18.2%	55.7%	-21.5%	11.9%	7.5%	21.2%	9.7%
3Y Rtn	-61.5%	25.8%	-69.2%	100.0%	81.2%	65.5%	45.7%
1M Excs Rtn	3.9%	33.3%	11.8%	8.6%	4.6%	13.7%	10.2%
3M Excs Rtn	17.4%	30.5%	66.4%	-2.4%	-2.2%	7.8%	12.6%
6M Excs Rtn	20.2%	69.8%	74.2%	10.9%	-11.8%	6.7%	15.5%
12M Excs Rtn	-34.5%	41.3%	-38.4%	-3.7%	-10.2%	3.3%	-6.9%
3Y Excs Rtn	-128.0%	-51.6%	-139.1%	29.1%	5.1%	-10.6%	-31.1%

Comparison Analyses

	Title
0	Clean Energy Fuels vs. ODP: Neither Seems Like A Good Bet
1	Clean Energy Fuels vs. ACCO Brands: Neither Seems Like A Good Bet
2	Clean Energy Fuels vs. 1-800-Flowers.com: With Return Forecast Of 11%, 1-800-Flowers.com Is A Better Bet
3	Clean Energy Fuels vs. Delek US: Both Seem Similar Bets
4	Clean Energy Fuels vs. Green Plains: With Return Forecast Of 11%, Clean Energy Fuels Is A Better Bet
5	Clean Energy Fuels vs. Gogo: With Return Forecast Of 23%, Clean Energy Fuels Is A Better Bet
6	Clean Energy Fuels vs. Glaukos: With Return Forecast Of 23%, Clean Energy Fuels Is A Better Bet
7	Clean Energy Fuels vs. EverQuote: With Return Forecast Of 70%, EverQuote Is A Better Bet
8	Clean Energy Fuels vs. Jack In The Box: With Return Forecast Of 21%, Clean Energy Fuels Is A Better Bet
9	Clean Energy Fuels vs. Armada Hoffler Properties: With Return Forecast Of 49%, Armada Hoffler Properties Is A Better Bet

Financials

Annual
Quarterly

$ Mil \| FY: 12/31	LTM	2024	2023	2022	2021	2020	2019
Period End		12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019
Filing Date		2/24/2025	2/29/2024	2/28/2023	2/24/2022	3/9/2021	3/10/2020
Key Financials
Total Revenue	421	416	425	420	256	292	344
Ebitda	-79	-4	-32	2	-44	44	71
Operating Income	-85	-28	-76	-52	-95	-10	9
Net Income	-204	-83	-99	-59	-93	-10	20
EPS	-0.90	-0.37	-0.45	-0.26	-0.44	-0.05	0.10
Growth Rates
Total Revenue Growth	4.1%	-2.2%	1.2%	64.4%	-12.4%	-15.2%	-0.7%
EBITDA Growth	-2392.5%	87.2%	-2080.3%	103.6%	-201.4%	-38.6%	21.0%
Operating Income Growth	-97.4%	63.0%	-47.8%	45.6%	-861.6%	-211.2%	100.3%
Net Income Growth	-156.9%	16.5%	-69.4%	36.9%	-844.3%	-148.3%	638.8%
Margins
EBITDA Margin	-18.7%	-1.0%	-7.5%	0.4%	-17.4%	15.0%	20.7%
Operating Income Margin	-20.1%	-6.8%	-18.0%	-12.3%	-37.2%	-3.4%	2.6%
Net Income Margin	-48.4%	-20.0%	-23.4%	-14.0%	-36.4%	-3.4%	5.9%
Cash & Debt
Total Cash	241	217	263	264	229	139	106
Total Debt	374	365	361	202	82	116	122
Net Debt / (Cash)	133	148	97	-62	-147	-23	16
Cash Flows
Net Cash from Operations	103	65	44	67	41	61	12
Free Cash from Operations	26	-15	-78	13	12	48	-15
Returns to Shareholders
Dividends	0	-0	-0	-0	-0	-0	-0
Share Repurchases	8	-0	-0	6	3	15	-0

$ Mil \| FY: 12/31	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4	2022Q3
Period End	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Filing Date	8/7/2025	5/8/2025	2/24/2025	11/6/2024	8/7/2024	5/9/2024	2/29/2024	11/9/2023	8/9/2023	5/9/2023	2/28/2023	11/8/2022
Key Financials Quarterly
Total Revenue	103	104	109	105	98	104	107	96	91	132	114	126
Ebitda	-3	-68	-9	1	3	0	2	-9	-1	-24	1	12
Operating Income	-9	-62	-5	-9	-6	-9	-7	-21	-13	-35	-11	-9
Net Income	-20	-135	-30	-18	-16	-18	-19	-26	-16	-39	-12	-9
EPS	-0.09	-0.60	-0.13	-0.08	-0.07	-0.08	-0.08	-0.12	-0.07	-0.17	-0.06	-0.04
Key Financials TTM
Total Revenue TTM	421	416	416	413	404	397	425	432	462	469	420	398
Ebitda TTM	-79	-72	-4	7	-3	-8	-32	-32	-11	-12	2	9
Operating Income TTM	-85	-81	-28	-30	-43	-50	-76	-81	-68	-67	-52	-47
Net Income TTM	-204	-200	-83	-72	-79	-79	-99	-93	-76	-73	-59	-49
Growth Rates Quarterly
Total Revenue Growth	4.8%	0.1%	2.3%	9.7%	8.2%	-21.5%	-6.1%	-24.0%	-6.9%	58.3%	23.7%	46.0%
EBITDA Growth	-175.9%	-45545.3%	-571.7%	116.5%	370.9%	100.6%	33.6%	-171.3%	36.0%	-137.2%	-84.3%	52.2%
Operating Income Growth	-65.1%	-565.6%	26.6%	60.1%	57.2%	73.7%	41.1%	-147.6%	-10.0%	-76.6%	-82.9%	-178.2%
Net Income Growth	-24.2%	-631.8%	-61.4%	29.6%	0.0%	52.3%	-51.5%	-187.7%	-23.2%	-60.0%	-419.1%	-128.1%
Margins Quarterly
EBITDA Margin	-2.6%	-65.7%	-8.4%	1.4%	3.5%	0.1%	1.8%	-9.1%	-1.4%	-18.1%	1.3%	9.7%
Operating Income Margin	-9.0%	-59.7%	-4.4%	-8.1%	-5.7%	-9.0%	-6.1%	-22.4%	-14.4%	-26.8%	-9.8%	-6.9%
Net Income Margin	-19.7%	-130.1%	-27.6%	-17.3%	-16.6%	-17.8%	-17.5%	-27.0%	-18.0%	-29.3%	-10.8%	-7.1%
Cash & Debt
Total Cash	241	227	217	244	249	249	263	174	192	220	264	134
Total Debt	374	368	365	366	371	360	361	225	212	210	202	77
Net Debt / (Cash)	133	142	148	122	122	111	97	50	21	-10	-62	-57
Cash Flows Quarterly
FCF from Operations	36	23	22	21	19	3	43	8	12	-19	35	-1
Cash Flows TTM
FCF from Operations TTM	103	85	65	86	72	65	44	36	28	43	67	40
Returns to Shareholders Quarterly
Dividends	0	0	0	0	0	0	0	0	0	0	0	0
Share Repurchases	8	0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0
Return on Invested Capital (ROIC) Quarterly
ROIC	-2.0%	-12.9%	-1.0%	-1.9%	-1.2%	-2.1%	-1.5%	-5.2%	-3.3%	-9.1%	-3.0%	-2.3%
Return on Invested Capital (ROIC) TTM
ROIC TTM	-4.5%	-4.3%	-1.5%	-1.6%	-2.4%	-2.8%	-4.3%	-4.9%	-4.3%	-4.3%	-3.5%	-3.1%

Segment Financials

Revenue by Segment

$ Mil	2024	2023	2022	2021	2020
Fuel sales	287	281
Volume-related, Operate and Maintain (O&M) services	53	46	197	245	274
Station Construction Sales	26	22	16	27	23
Renewable Identification Numbers (RIN) Credits	26	35
Alternative fuel excise tax credit (AFTC)	21	22		20	47
Low Carbon Fuel Standard (LCFS) Credits	10	13
Other services	3	1
Change in fair value of derivative instruments	-0	1
Service revenue			43
Other					0
Total	425	420	256	292	344

Price Behavior

Behavior Stats
Betas Matrix

Price Behavior

Market Price	$2.42
Market Cap ($ Bil)	0.5
First Trading Date	05/25/2007
Distance from 52W High	-32.2%
	50 Days	200 Days
DMA Price	$2.28	$2.24
DMA Trend	down	up
Distance from DMA	5.9%	8.2%
	3M	1YR
Volatility	60.5%	69.8%
Downside Capture	273.10	187.26
Upside Capture	232.88	135.68
Correlation (SPY)	45.6%	43.8%

CLNE Betas & Captures as of 8/31/2025

	1M	2M	3M	6M	1Y	3Y
Beta	3.27	3.51	2.86	1.58	1.60	1.72
Up Beta	4.71	5.42	4.05	1.86	2.01	2.15
Down Beta	1.61	2.29	1.18	0.80	0.94	1.22
Up Capture	505%	418%	394%	268%	190%	293%
Bmk +ve Days	10	22	35	71	142	415
Stock +ve Days	13	22	33	62	112	332
Down Capture	105%	164%	205%	148%	139%	108%
Bmk -ve Days	11	19	27	54	106	334
Stock -ve Days	7	17	25	57	125	396

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Short Interest

Short Interest: As Of Date	8292025
Short Interest: Shares Quantity	8,274,190
Short Interest: % Change Since 8152025	4.0%
Average Daily Volume	1,594,386
Days-to-Cover Short Interest	5.19
Basic Shares Quantity	220,393,997
Short % of Basic Shares	3.8%

Returns Analyses

	Title
0	CLNE Dropped 6.5% In A Week. Have You Fully Evaluated The Risk?
1	Clean Energy Fuels Stock Return Comparison
2	Clean Energy Fuels Total Shareholder Return (TSR): -15.2% in 2022 and 30.5% 3-yr returns (above peer average)

Earnings Returns History

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	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
8/7/2025	12.3%	11.8%	20.6%
5/8/2025	-6.4%	14.6%	11.7%
2/24/2025	-25.5%	-29.5%	-38.7%
11/6/2024	0.3%	-13.8%	-14.8%
8/7/2024	22.7%	31.4%	9.9%
5/9/2024	3.3%	8.7%	19.9%
2/27/2024	-3.9%	-9.2%	-13.5%
11/9/2023	-4.5%	-6.8%	2.5%
...
SUMMARY STATS
# Positive	11	11	10
# Negative	11	11	12
Median Positive	5.8%	14.6%	11.5%
Median Negative	-6.7%	-9.2%	-13.4%
Max Positive	22.7%	31.4%	64.1%
Max Negative	-34.7%	-29.5%	-38.7%

	Forward Returns
8/7/2025	12.3%	11.8%	20.6%
5/8/2025	-6.4%	14.6%	11.7%
2/24/2025	-25.5%	-29.5%	-38.7%
11/6/2024	0.3%	-13.8%	-14.8%
8/7/2024	22.7%	31.4%	9.9%
5/9/2024	3.3%	8.7%	19.9%
2/27/2024	-3.9%	-9.2%	-13.5%
11/9/2023	-4.5%	-6.8%	2.5%
8/9/2023	-6.7%	-9.1%	-2.0%
5/9/2023	2.9%	3.0%	2.1%
2/28/2023	-13.3%	-20.9%	-24.8%
11/8/2022	1.5%	6.7%	-17.2%
8/4/2022	19.8%	30.9%	-1.4%
5/5/2022	-13.6%	-25.9%	-4.4%
2/24/2022	6.6%	12.3%	21.5%
11/4/2021	-7.8%	-6.3%	-29.4%
8/5/2021	5.8%	17.4%	11.3%
3/9/2021	15.2%	26.8%	11.0%
11/5/2020	-5.7%	29.6%	64.1%
8/6/2020	3.9%	-5.3%	-9.8%
3/10/2020	-34.7%	-25.7%	-13.4%
11/12/2019	-3.1%	-9.0%	-13.0%
SUMMARY STATS
# Positive	11	11	10
# Negative	11	11	12
Median Positive	5.8%	14.6%	11.5%
Median Negative	-6.7%	-9.2%	-13.4%
Max Positive	22.7%	31.4%	64.1%
Max Negative	-34.7%	-29.5%	-38.7%

SEC Filings

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Report Date	Filing Date	Filing
6302025	8072025	10-Q 6/30/2025
3312025	5082025	10-Q 3/31/2025
12312024	2242025	10-K 12/31/2024
9302024	11062024	10-Q 9/30/2024
6302024	8072024	10-Q 6/30/2024
3312024	5092024	10-Q 3/31/2024
12312023	2292024	10-K 12/31/2023
9302023	11092023	10-Q 9/30/2023
6302023	8092023	10-Q 6/30/2023
3312023	5092023	10-Q 3/31/2023
12312022	2282023	10-K 12/31/2022
9302022	11082022	10-Q 9/30/2022
6302022	8042022	10-Q 6/30/2022
3312022	5052022	10-Q 3/31/2022
12312021	2242022	10-K 12/31/2021
9302021	11042021	10-Q 9/30/2021

Insider Activity

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	Owner	Title	Filing Date	Action	Price	Shares	Transacted Value	Value of Held Shares	Form
0	Littlefair Andrew J	CEO AND PRESIDENT	8152025	Sell	2.25	250,000	562,500	3,362,933	Form
1	Vreeland Robert M.	CHIEF FINANCIAL OFFICER	3242025	Buy	1.67	5,000	8,350	1,072,036	Form
2	Vreeland Robert M.	CHIEF FINANCIAL OFFICER	3062025	Buy	1.83	10,000	18,300	1,165,597	Form
3	Vreeland Robert M.	CHIEF FINANCIAL OFFICER	2262025	Buy	1.94	15,000	29,100	890,072	Form

External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

Prefer one of these to Trefis? Tell us why.

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
CLNE Return	236%	-22%	-15%	-26%	-34%	-4%	3%
Peers Return	-32%	53%	57%	10%	-21%	29%	82%
S&P 500 Return	16%	27%	-19%	24%	23%	12%	104%
Monthly Win Rates [3]
CLNE Win Rate	50%	58%	50%	33%	42%	62%
Peers Win Rate	42%	57%	68%	50%	37%	65%
S&P 500 Win Rate	58%	75%	42%	67%	75%	62%
Max Drawdowns [4]
CLNE Max Drawdown	-54%	-23%	-32%	-39%	-42%	-47%
Peers Max Drawdown	-69%	-5%	-5%	-18%	-27%	-30%
S&P 500 Max Drawdown	-31%	-1%	-25%	-1%	-2%	-15%

Clean Energy Fuels (CLNE)

Market Price (9/16/2025): $2.41 | Market Cap: $531.1 MilSector: Energy | Industry: Oil & Gas Refining & Marketing

Clean Energy Fuels (CLNE)

Market Price (9/16/2025): $2.41Market Cap: $531.1 MilSector: EnergyIndustry: Oil & Gas Refining & Marketing

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Market Price (9/16/2025): $2.41 | Market Cap: $531.1 Mil
Sector: Energy | Industry: Oil & Gas Refining & Marketing

Market Price (9/16/2025): $2.41
Market Cap: $531.1 Mil
Sector: Energy
Industry: Oil & Gas Refining & Marketing