Company Overview
Clean Energy Fuels Corp. operates as a specialized provider of alternative fuel solutions, focusing on the supply of renewable natural gas (RNG), compressed natural gas (CNG), and liquefied natural gas (LNG) for medium and heavy-duty vehicle fleets across the United States and Canada. The company functions within the Energy sector, specifically inside the Oil & Gas Refining & Marketing industry, positioning itself as a key player in the transition toward sustainable transportation infrastructure. With a total market capitalization of $506.89M and an annualized revenue of $424.83M, the entity supports a workforce of 503 employees dedicated to fueling operations. These financial figures indicate a mid-cap status that suggests the company has established a tangible operational footprint but remains sensitive to broader market fluctuations and capital expenditure cycles required for infrastructure expansion.
Financial Health
The company reported trailing twelve-month revenue of $424.83M, yet generated a net income of -$222,024,000, while EBITDA stood at -$107,630,000; this significant divergence between top-line revenue and bottom-line profit reveals a highly aggressive cost structure where operating expenses and interest charges substantially erode earnings before tax. Free cash flow for the period was -$65,000,376, which indicates that current operations are burning cash rather than generating liquidity, thereby limiting immediate financial flexibility for internal reinvestment without external capital raises. The gross margin sits at 27.0%, suggesting that the company retains a substantial portion of revenue after direct costs, whereas the operating margin of -107.5% and profit margin of -52.3% demonstrate that fixed overheads and structural costs are severely impacting overall profitability. Regarding balance sheet leverage, the company holds $156.14M in cash against $325.63M in debt, resulting in a debt-to-equity ratio of 57.63, which characterizes a highly leveraged position rather than a conservative one. Liquidity is supported by a current ratio of 2.32, indicating that the firm possesses more than double the current assets necessary to cover its short-term liabilities. Return on equity is -34.7% and return on assets is -8.1%, metrics that collectively reveal that management effectiveness is currently negative, as the capital deployed is generating losses rather than returns for shareholders.
Valuation Assessment
Valuation metrics present a complex picture with a P/E Ratio (TTM) listed as N/A due to negative earnings, while the forward P/E is 57.75, implying that the market is pricing in a significant turnaround or expected earnings recovery in the future. The price-to-book ratio is 0.91, indicating that the market values the company at approximately 91% of its book value, suggesting no premium over net assets and potentially a discount often found in distressed or turnaround situations. Alternative valuation multiples include a price-to-sales ratio of 1.19 and an EV/EBITDA of -6.34, which suggests the stock is being valued based on sales and enterprise value rather than current earnings power, reflecting the speculative nature of the investment given the lack of profitability. The 52-week high is $3.11 and the 52-week low is $1.30; without a specific current price provided in the data, the exact trading position relative to this range cannot be calculated, but the spread between the high and low highlights a wide volatility band of $1.81. The stock exhibits a beta of 2.16, meaning it is expected to be more than twice as volatile as the broader market, signaling high sensitivity to market movements and sector-specific risks.
Growth & Income
Revenue growth year-over-year is 2.7%, while earnings growth is N/A due to the negative net income, indicating that the company is currently prioritizing market share or infrastructure deployment over immediate profitability expansion. As a non-dividend payer, the company has a dividend yield of N/A and a payout ratio of 0.0%, which confirms that all available earnings are theoretically available for reinvestment or debt reduction rather than distribution to shareholders. The absence of a dividend payout is consistent with a company in a growth phase that requires capital to fund its expansion, though the negative free cash flow complicates the ability to self-fund growth without external financing. Overall, the growth and income profile is characterized by modest revenue expansion paired with significant earnings contraction, relying entirely on capital markets or operational improvements to achieve future financial stability.