Clean Energy Fuels Corp. (CLNE) Financial Ratios
22 years of historical data (2004–2025) · Energy · Oil & Gas Refining & Marketing
EV/EBITDA
↓
74.09
↓-63% vs avg
5yr avg: 200.18
30Y Low6.6·High99.7
P/FCF
↓
6.84
↓-90% vs avg
5yr avg: 66.87
30Y Low7.7·High105.4
P/B Ratio
↓
0.73
↓-40% vs avg
5yr avg: 1.22
30Y Low0.6·High3.0
ROE
↓
-34.6%
↑-110% vs avg
5yr avg: -16.4%
30Y Low-72%·High22%
Debt/EBITDA
↓
20.89
↓-53% vs avg
5yr avg: 44.15
30Y Low0.2·High43.6
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
CLNE Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Clean Energy Fuels Corp. currently has a negative P/E ratio, indicating the company is operating at a loss on a trailing-twelve-month basis. On a free-cash-flow basis, the stock trades at 6.8x P/FCF, 90% below the 5-year average of 66.9x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $410M | $463M | $561M | $854M | $1.2B | $1.3B | $1.6B | $482M | $311M | $305M | $341M |
| Enterprise Value | $351M | $405M | $836M | $1.1B | $1.2B | $1.3B | $1.6B | $555M | $369M | $529M | $618M |
| P/E Ratio → | -1.84 | — | — | — | — | — | — | 23.40 | — | — | — |
| P/S Ratio | 0.96 | 1.09 | 1.35 | 2.01 | 2.75 | 5.11 | 5.41 | 1.40 | 0.90 | 0.89 | 0.85 |
| P/B Ratio | 0.73 | 0.82 | 0.78 | 1.16 | 1.59 | 1.73 | 3.02 | 0.89 | 0.59 | 0.68 | 0.69 |
| P/FCF | 6.84 | 7.74 | — | — | 87.44 | 105.42 | 33.02 | — | 24.43 | — | 15.23 |
| P/OCF | 4.79 | 5.42 | 8.68 | 19.50 | 17.33 | 31.63 | 25.84 | 39.25 | 8.18 | — | 7.41 |
P/E links to full P/E history page with 30-year chart
CLNE EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Clean Energy Fuels Corp.'s enterprise value stands at 74.1x EBITDA, 63% below its 5-year average of 200.2x. The Energy sector median is 7.8x, placing the stock at a 845% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.95 | 2.01 | 2.61 | 2.93 | 5.04 | 5.43 | 1.61 | 1.06 | 1.55 | 1.53 |
| EV / EBITDA | 74.09 | 85.45 | 99.74 | — | 415.36 | — | 41.86 | 9.31 | 6.62 | — | 14.84 |
| EV / EBIT | — | — | — | — | — | — | — | 25.57 | 52.07 | — | 35.89 |
| EV / FCF | — | 6.76 | — | — | 93.17 | 104.03 | 33.16 | — | 28.99 | — | 27.55 |
CLNE Profitability
Margins and return-on-capital ratios measuring operating efficiency
Clean Energy Fuels Corp. earns an operating margin of -22.0%, below the Energy sector average of 13.8%. Operating margins have compressed from -18.0% to -22.0% over the past 3 years, signaling potential cost pressures or competitive headwinds. A negative ROE of -34.6% indicates the company is currently destroying shareholder equity.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 4.2% | 4.2% | 20.1% | 8.4% | 13.7% | -2.0% | 20.1% | 23.9% | 23.6% | 8.5% | 21.8% |
| Operating Margin | -22.0% | -22.0% | -8.7% | -18.0% | -12.3% | -37.2% | -3.4% | 2.9% | 1.1% | -39.4% | -4.4% |
| Net Profit Margin | -52.1% | -52.1% | -20.0% | -23.4% | -14.0% | -36.4% | -3.4% | 5.9% | -1.1% | -23.2% | -3.0% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -34.6% | -34.6% | -11.4% | -13.6% | -7.9% | -14.6% | -1.9% | 3.8% | -0.8% | -16.8% | -3.0% |
| ROA | -19.3% | -19.3% | -6.6% | -8.5% | -5.8% | -11.1% | -1.3% | 2.8% | -0.5% | -9.4% | -1.3% |
| ROIC | -9.4% | -9.4% | -2.7% | -6.4% | -5.0% | -11.2% | -1.3% | 1.2% | 0.5% | -14.0% | -1.6% |
| ROCE | -9.4% | -9.4% | -3.3% | -7.5% | -5.9% | -13.0% | -1.6% | 1.6% | 0.6% | -19.3% | -2.3% |
CLNE Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Clean Energy Fuels Corp. carries a Debt/EBITDA ratio of 20.9x, which is highly leveraged (702% above the sector average of 2.6x). The company holds a net cash position — cash of $158M exceeds total debt of $99M, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.18 | 0.18 | 0.51 | 0.49 | 0.28 | 0.11 | 0.22 | 0.22 | 0.17 | 0.58 | 0.63 |
| Debt / EBITDA | 20.89 | 20.89 | 43.55 | — | 68.00 | — | 3.05 | 2.04 | 1.59 | — | 7.50 |
| Net Debt / Equity | — | -0.10 | 0.38 | 0.35 | 0.10 | -0.02 | 0.01 | 0.13 | 0.11 | 0.50 | 0.56 |
| Net Debt / EBITDA | -12.43 | -12.43 | 32.87 | — | 25.55 | — | 0.17 | 1.22 | 1.04 | — | 6.64 |
| Debt / FCF | — | -0.98 | — | — | 5.73 | -1.38 | 0.14 | — | 4.56 | — | 12.32 |
| Interest Coverage | -1.78 | -1.78 | -1.52 | -3.38 | -8.41 | -20.23 | -0.53 | 2.86 | 0.44 | -3.69 | 0.58 |
Net cash position: cash ($158M) exceeds total debt ($99M)
CLNE Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Clean Energy Fuels Corp.'s current ratio of 2.32x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The current ratio has declined from 2.87x to 2.32x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.32 | 2.32 | 2.67 | 2.87 | 3.18 | 3.26 | 3.29 | 1.81 | 2.81 | 1.50 | 2.93 |
| Quick Ratio | 2.03 | 2.03 | 2.39 | 2.59 | 2.93 | 3.01 | 2.94 | 1.62 | 2.38 | 1.33 | 2.60 |
| Cash Ratio | 1.05 | 1.05 | 1.41 | 1.61 | 1.79 | 1.82 | 1.73 | 0.65 | 1.20 | 0.87 | 1.23 |
| Asset Turnover | — | 0.40 | 0.33 | 0.34 | 0.39 | 0.27 | 0.41 | 0.44 | 0.50 | 0.43 | 0.45 |
| Inventory Turnover | 9.30 | 9.30 | 7.65 | 8.59 | 9.76 | 8.33 | 8.30 | 8.76 | 7.57 | 8.87 | 10.66 |
| Days Sales Outstanding | — | 91.56 | 112.06 | 101.47 | 94.22 | 159.74 | 106.90 | 156.06 | 88.94 | 88.90 | 91.89 |
CLNE Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Clean Energy Fuels Corp. returns 1.9% to shareholders annually primarily through share buybacks.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | 4.3% | — | — | — |
| FCF Yield | 14.6% | 12.9% | — | — | 1.1% | 0.9% | 3.0% | — | 4.1% | — | 6.6% |
| Buyback Yield | 1.9% | 1.7% | 0.0% | 0.0% | 0.0% | 0.2% | 0.9% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 1.9% | 1.7% | 0.0% | 0.0% | 0.0% | 0.2% | 0.9% | 0.0% | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $221M | $223M | $223M | $222M | $213M | $201M | $206M | $181M | $150M | $119M |
Peer Comparison
Compare CLNE with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 CLNEYou | $410M | -1.8 | 74.1 | 6.8 | 4.2% | -22.0% | -34.6% | -9.4% | 20.9 |
 UGI | $7B | 10.9 | 8.7 | 18.6 | 49.9% | 15.2% | 14.8% | 7.1% | 4.5 |
 AMTX | $134M | -1.5 | — | — | -0.4% | -17.9% | — | -70.3% | — |
 OPAL | $54M | 12.4 | 13.6 | — | 24.0% | 1.4% | 3.1% | 0.5% | 12.5 |
 HTOO | $5M | -2.0 | — | — | 27.9% | -64.2% | -10.4% | -38.3% | — |
 REX | $1B | 17.5 | 16.4 | 29.2 | 14.4% | 9.4% | 12.3% | 9.1% | 0.3 |
 GPRE | $1B | -8.2 | 96.0 | 16.1 | 1.8% | -4.0% | -14.7% | -5.2% | 35.8 |
 BIOA | $747M | -9.3 | — | — | 100.0% | -1031.5% | -27.1% | -210.2% | — |
 GEVO | $375M | -11.0 | 83.8 | — | 30.2% | -11.7% | -7.0% | -2.8% | 25.9 |
 ALTO | $388M | 31.4 | 14.0 | 44.9 | 3.8% | 0.8% | 5.7% | 1.9% | 3.0 |
 WM | $87B | 32.0 | 14.6 | 30.7 | 29.1% | 18.3% | 29.7% | 10.7% | 3.1 |
| Energy Median | — | 15.5 | 7.8 | 13.8 | 33.7% | 13.8% | 7.2% | 6.2% | 2.6 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 22 years · Updated daily
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CLNE — Frequently Asked Questions
Quick answers to the most common questions about buying CLNE stock.
What is Clean Energy Fuels Corp.'s P/E ratio?
Clean Energy Fuels Corp.'s current P/E ratio is -1.8x. The historical average is 23.4x.
What is Clean Energy Fuels Corp.'s EV/EBITDA?
Clean Energy Fuels Corp.'s current EV/EBITDA is 74.1x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 46.6x.
What is Clean Energy Fuels Corp.'s ROE?
Clean Energy Fuels Corp.'s return on equity (ROE) is -34.6%. The historical average is -12.5%.
Is CLNE stock overvalued?
Based on historical data, Clean Energy Fuels Corp. is trading at a P/E of -1.8x. Compare with industry peers and growth rates for a complete picture.
What are Clean Energy Fuels Corp.'s profit margins?
Clean Energy Fuels Corp. has 4.2% gross margin and -22.0% operating margin.
How much debt does Clean Energy Fuels Corp. have?
Clean Energy Fuels Corp.'s Debt/EBITDA ratio is 20.9x, indicating high leverage. A ratio above 4x may signal elevated financial risk.