Clean Energy Fuels Corp.
- Open
- 1.73
- Day high
- 1.76
- Day low
- 1.72
- Prev close
- 1.71
- Volume
- 1.3M
- Mkt cap
- $384M
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 0.7
- P/S
- 0.9
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$229K over the last 3 months (3 open-market buys, 1 sale)
- ◆Cluster buying — multiple insiders bought within days
- 🏛Institutions reducing (13F)
Clean Energy Fuels Corp. (CLNE) is a Energy company listed on NASDAQ. The stock is down 25% over the past year. Over the trailing 3 months, insiders filed 3 open-market buys and 1 sale (SEC Form 4).
Clean Energy Fuels Corp. (CLNE) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
CLNE earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Aug 6, 2026 | $-0.01 | $-0.01 | +6.9% | $106M | -4.4% |
| May 7, 2026 | $-0.02 | $-0.01 | +50.0% | $118M | +14.6% |
| Feb 24, 2026 | $-0.03 | $-0.19 | -549.6% | $112M | +11.6% |
| Aug 7, 2025 | $-0.07 | $-0.01 | +85.7% | $103M | +1.7% |
| May 8, 2025 | $-0.20 | $0.01 | +105.0% | $104M | +9.0% |
| May 9, 2024 | $-0.01 | $-0.01 | -77.0% | $102M | +2.5% |
| Feb 27, 2024 | $0.00 | $0.01 | +350.5% | $107M | +1.2% |
| Nov 9, 2023 | $-0.06 | $-0.12 | -100.0% | $96M | -7.7% |
| Feb 28, 2023 | $0.01 | $0.01 | +12.5% | $114M | -7.9% |
| Aug 4, 2022 | $-0.03 | $-0.06 | -100.0% | $97M | -5.4% |
| May 5, 2022 | $-0.01 | $-0.05 | -233.3% | $83M | -9.8% |
| Feb 24, 2022 | $0.04 | $0.03 | -14.6% | $92M | -0.3% |
CLNE insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Aug 10, 2026 | Corbus Barclaydirector, officer: PRESIDENT AND CEO | Buy | 25,000 | $1.62 |
| Jun 25, 2026 | Scully Stephendirector | Buy | 25,000 | $1.75 |
| Jun 24, 2026 | Corbus Barclaydirector, officer: PRESIDENT AND CEO | Buy | 14,000 | $1.77 |
| Jun 24, 2026 | Frabotta Bartolomeo A.officer: Chief Operating Officer | Grant | 50,000 | — |
| Jun 12, 2026 | Littlefair Andrew Jdirector | Grant | 67,839 | — |
| Jun 12, 2026 | ARDISANA LIZABETH Adirector | Grant | 67,839 | — |
| Jun 12, 2026 | Ford Patrick Jdirector | Grant | 67,839 | — |
| Jun 12, 2026 | Scully Stephendirector | Grant | 67,839 | — |
| Jun 12, 2026 | Taormina Vincent Cdirector | Grant | 67,839 | — |
| May 19, 2026 | Littlefair Andrew Jdirector | Sell | 165,000 | $2.05 |
| Apr 24, 2026 | Corbus Barclaydirector, officer: CEO AND PRESIDENT | Grant | 166,532 | — |
| Apr 24, 2026 | Littlefair Andrew Jdirector | Grant | 403,255 | — |
| Mar 5, 2026 | Corbus Barclayofficer: SVP, STRATEGIC DEVELOPMENT | Tax | 60,561 | $2.32 |
| Mar 5, 2026 | Littlefair Andrew Jdirector, officer: CEO AND PRESIDENT | Tax | 41,976 | $2.32 |
| Mar 5, 2026 | Vreeland Robert M.officer: CHIEF FINANCIAL OFFICER | Tax | 30,982 | $2.32 |
Source: CLNE SEC Form 4 filings, latest Aug 10, 2026. For informational purposes only — not investment advice.
See the full CLNE insider & 13F page →Clean Energy Fuels Corp. company profile
Overview
Clean Energy Fuels Corp. (NASDAQ:CLNE) is a leading provider of natural gas fuel for transportation in North America, founded in 2001 and headquartered in Newport Beach, California. The company went public in 2007 and has evolved from a traditional compressed natural gas provider into a specialized renewable natural gas distributor focused primarily on heavy-duty transportation fleets. Clean Energy operates the largest network of natural gas fueling stations in North America, serving approximately 1,000 fleet customers with over 600 stations across the United States and Canada.
Business
Clean Energy Fuels operates in the alternative transportation fuel industry, specifically focusing on natural gas as a cleaner alternative to diesel fuel for commercial vehicle fleets. The company's core business revolves around three main products and services. The primary offering is Renewable Natural Gas (RNG), which is methane captured from organic waste sources like dairy farms, landfills, and wastewater treatment plants. This biogas is processed and purified to pipeline-quality standards, then distributed as vehicle fuel. RNG is considered carbon-negative because it prevents methane emissions that would otherwise escape into the atmosphere while displacing fossil fuels. This represents approximately 75% of the company's fuel volumes nationally and 100% in California. The company also provides Compressed Natural Gas (CNG) and Liquefied Natural Gas (LNG), which are conventional natural gas products stored under pressure or at extremely low temperatures respectively. These fuels burn cleaner than diesel, producing lower emissions of nitrogen oxides and particulate matter, making them attractive for fleet operators seeking to reduce their environmental footprint. Beyond fuel sales, Clean Energy offers comprehensive fueling infrastructure and services. The company designs, builds, operates, and maintains fueling stations for both public and private fleet customers. They also provide operation and maintenance services, sell and service compression equipment, and offer virtual pipeline services to transport natural gas to locations not connected to traditional pipeline infrastructure. The fueling and infrastructure services generate substantial recurring revenue through long-term contracts with fleet customers.
Revenue model
Clean Energy generates revenue through multiple complementary business models centered around natural gas fuel distribution and infrastructure services. The primary revenue stream comes from fuel sales, where the company purchases RNG from third-party producers (primarily dairy farms and waste facilities) and sells it to fleet customers at a markup. The company also produces a smaller portion of its own RNG through joint venture dairy projects. Customers pay per gallon consumed, with pricing typically structured as a discount to diesel fuel prices plus various environmental credits. A significant portion of revenue derives from environmental credit monetization. Clean Energy sells Renewable Identification Numbers (RINs) under federal renewable fuel standards and Low Carbon Fuel Standard (LCFS) credits in California. These credits can be worth $1-5 per gallon depending on market conditions and regulatory requirements, representing a substantial portion of total margins. The company also generates revenue through infrastructure services, including station construction, operation and maintenance contracts, and equipment sales. Many customers enter into long-term fueling agreements that guarantee minimum volumes and provide stable cash flows. Several factors significantly impact margins. Regulatory policy changes can dramatically affect profitability, as environmental credit values fluctuate based on compliance requirements and political support. RNG supply availability from third-party producers affects both volumes and input costs. Competition from electric vehicles in certain fleet segments poses a long-term margin pressure risk. Natural gas commodity prices influence both input costs and the relative attractiveness versus diesel fuel. Capital intensity of station construction and RNG production facilities requires substantial upfront investment before generating returns.
Risks & safety
Clean Energy presents moderate financial risk with mixed liquidity indicators. **Cash and Liquidity Position:** - Current cash position of $121 million provides reasonable near-term cushion - Current ratio of 2.82 indicates solid short-term liquidity - Operating cash flow positive at $23 million in Q1 2025, showing operational viability **Debt and Solvency Concerns:** - Debt-to-equity ratio of 0.16 is relatively conservative - However, company burning cash with negative EBITDA of -$66 million in Q1 2025 - Free cash flow barely positive at $16 million, indicating tight cash generation **Valuation Metrics:** - Trading at 0.58x book value suggests potential undervaluation - Negative earnings make traditional P/E ratios meaningless - Enterprise value metrics distorted by negative EBITDA **Other Considerations:** - Heavy capital requirements for RNG projects and station construction - Dependence on volatile environmental credit markets for profitability - Regulatory policy changes could significantly impact cash flows
Recent development
Over the past few years, Clean Energy has executed a strategic transformation from a traditional natural gas fuel provider to a renewable natural gas specialist focused on heavy-duty transportation. The company has significantly expanded its RNG production capabilities, moving from zero owned production in 2022 to six operational dairy RNG projects by 2024, with plans to reach 4-6 million gallons of annual production by 2025. A major strategic initiative has been the partnership with Amazon to build a network of public RNG fueling stations. The company has constructed 19 purpose-built stations with Amazon as the anchor customer, creating a foundation for broader fleet adoption. This infrastructure expansion supports the company's goal of serving multiple fleet customers at each location. The company has also positioned itself to capitalize on the Cummins X15N natural gas engine adoption, which represents a technological breakthrough for heavy-duty trucking. Clean Energy anticipates this engine technology will drive significant volume growth, projecting 3-5 million gallons of fuel demand in 2025 from initial adoption across 25+ fleets, with potential for much larger volumes as adoption accelerates. Upstream integration through RNG production has become a key focus, with partnerships including BP, Total Energies, and Maas Energy to develop dairy waste-to-RNG projects. The company has invested $238 million in these joint ventures and expects to have additional projects operational by 2026. Recent strategic moves include being more selective about capital deployment, resuming share repurchase programs, and focusing on near-complete projects rather than greenfield developments to improve capital efficiency.
CLNE company profile · for informational purposes only — not investment advice.
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