CN Energy Group. Inc. (CNEY) Revenue History
Annual and quarterly revenue from 2017 to present
CNEY Revenue Over Time (2017–2025)
CNEY Revenue Growth History
6 of 8 years with positive growth- FY2017 revenue growth
- N/A
- FY2018 revenue growth
- +490.4%
- FY2019 revenue growth
- +34.6%
- FY2020 revenue growth
- +14.5%
- FY2021 revenue growth
- +59.1%
- FY2022 revenue growth
- +102.6%
- FY2023 revenue growth
- +44.0%
- FY2024 revenue growth
- -12.0%
- FY2025 revenue growth
- -30.2%
| Quarter | Revenue | YoY |
|---|---|---|
| Q4 2025 | $19.2M | -2.4% |
| Q2 2025 | $16.4M | -47.7% |
| Q4 2024 | $19.7M | -44.1% |
| Q2 2024 | $31.3M | +38.0% |
| Q4 2023 | $35.2M | +32.6% |
| Q2 2023 | $22.7M | +66.1% |
| Q4 2022 | $26.6M | +119.0% |
| Q2 2022 | $13.7M | +76.8% |
Revenue Breakdown (FY 2025)
CNEY's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
CNEY Revenue Analysis (2017–2025)
Current Revenue & Growth
As of June 28, 2026, CN Energy Group. Inc. (CNEY) generated trailing twelve-month (TTM) revenue of $86.5 million, reflecting slight decline in growth of -2.4% year-over-year. The most recent quarter (Q4 2025) recorded $19.2 million in revenue, up 17.2% sequentially.
Historical Growth Trajectory
CNEY's 5-year compound annual growth rate (CAGR) stands at +23.3%, indicating outstanding long-term growth trajectory. The 3-year CAGR of -4.0% is below the 5-year average, signalling a growth deceleration in recent years. CN Energy Group. Inc.'s highest annual revenue of $57.9 million was recorded in 2023.
Revenue by Segment
CNEY's revenue is primarily driven by Activated Carbon (100%). With over half of revenue concentrated in Activated Carbon, the company has a focused business model while developing other growth vectors.
Peer Comparison
Compared to Basic Materials sector peers — including GPRE (-21.0% YoY), REX (+2.6% YoY), and ALTO (-3.7% YoY) — CNEY has outperformed the peer group in revenue growth. Compare CNEY vs GPRE →
CNEY Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| CNEYCurrent | $87M | -2.4% | +23.3% | -30.9% | |
 GPRE | $2.1B | -21.0% | +1.7% | -4.0% | |
 REX | $650M | +2.6% | +11.8% | 9.4% | |
 ALTO | $918M | -3.7% | +0.5% | 0.8% | |
 AMTX | $208M | -12.0% | +4.7% | -17.9% | |
 CLNE | $426M | +5.4% | +7.9% | -22.0% |
CNEY Historical Revenue Data (2017–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $35.6M | -30.2% | $-7,174,121 | -20.2% | $-10,975,431 | -30.9% |
| 2024 | $51.0M | -12.0% | $-181,111 | -0.4% | $-12,488,605 | -24.5% |
| 2023 | $57.9M | +44.0% | $789K | 1.4% | $-6,178,419 | -10.7% |
| 2022 | $40.2M | +102.6% | $3.6M | 9.1% | $460K | 1.1% |
| 2021 | $19.8M | +59.1% | $2.6M | 13.2% | $583K | 2.9% |
| 2020 | $12.5M | +14.5% | $3.4M | 26.9% | $2.0M | 16.1% |
| 2019 | $10.9M | +34.6% | $3.0M | 27.3% | $1.8M | 16.4% |
| 2018 | $8.1M | +490.4% | $1.8M | 22.5% | $1.1M | 13.0% |
| 2017 | $1.4M | - | $-277,808 | -20.3% | $-1,019,640 | -74.4% |
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
9+ years return with dividends reinvested.
DCA Calculator
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Peer Comparison
Compare growth, multiples, and margins vs sector.
CNEY — Frequently Asked Questions
Quick answers to the most common questions about buying CNEY stock.
Is CNEY's revenue growth accelerating or slowing?
CNEY revenue growth is slowing. TTM revenue is $87M, up -2.4% year-over-year — below the 5-year CAGR of +23.3%. The deceleration suggests maturing end-markets or increased competition.
What is CNEY's revenue history from 2017 to 2026?
CN Energy Group. Inc. (CNEY) revenue history spans 2017 to 2026. TTM revenue as of 2026 is $87M, growing at -2.4% YoY. The 5-year CAGR is +23.3%. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is CNEY's long-term revenue growth rate (CAGR)?
CN Energy Group. Inc.'s 5-year revenue CAGR of +23.3% reflects the variable nature of its business expansion. As of 2026, the current YoY growth rate of -2.4% is below this long-term average. CAGR is the most reliable measure of sustained revenue momentum for CNEY.
Why does CNEY's quarterly revenue fluctuate?
CNEY quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. CN Energy Group. Inc.'s revenue data from 2017 to 2026 shows full historical quarterly detail on this page.
How is CNEY's revenue distributed by segment?
CNEY reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does CNEY's revenue compare to industry peers?
CN Energy Group. Inc. (CNEY) with TTM revenue of $87M and -2.4% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.