Latest Ratios: P/E Ratio -3.3x · EV/EBITDA N/A · ROE -35.9%. (2020–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Market Cap | $44M | $37M | $26M | $14M | $71M | $93M | — |
| Enterprise Value | $-12702125 | $-20272570 | $7M | $-13348375 | $70M | $93M | — |
| P/E Ratio → | -3.34 | — | — | — | 26.03 | — | — |
| P/S Ratio | — | — | — | — | — | — | — |
| P/B Ratio | 0.31 | 0.63 | 1.24 | 0.50 | 63.92 | — | — |
| P/FCF | — | — | — | — | — | — | — |
| P/OCF | — | — | — | — | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| EV / Revenue | — | — | — | — | — | — | — |
| EV / EBITDA | — | — | — | — | — | — | — |
| EV / EBIT | — | — | — | — | 25.89 | — | — |
| EV / FCF | — | — | — | — | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
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 |
|---|---|---|---|---|---|---|---|
| Gross Margin | — | — | — | — | — | — | — |
| Operating Margin | — | — | — | — | — | — | — |
| Net Profit Margin | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| ROE | -35.9% | -35.9% | -13.5% | -18.3% | 246.5% | — | -124.4% |
| ROA | -33.7% | -33.7% | -12.0% | -14.3% | 61.2% | -446.9% | -108.3% |
| ROIC | -630.6% | -630.6% | -612.0% | -906.7% | — | — | — |
| ROCE | -31.7% | -31.7% | -46.4% | -74.1% | -208.7% | -515.8% | -122.7% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.00 | 0.00 | 0.01 | 0.03 | 0.30 | — | 0.02 |
| Debt / EBITDA | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.98 | -0.91 | -0.97 | -0.12 | — | -0.36 |
| Net Debt / EBITDA | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — |
| Interest Coverage | — | — | — | -42.66 | 369.32 | — | — |
Net cash position: cash ($57M) exceeds total debt ($186000)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Current Ratio | 27.58 | 27.58 | 7.18 | 11.90 | 0.99 | 0.36 | 3.00 |
| Quick Ratio | 27.58 | 27.58 | 7.18 | 11.90 | 0.99 | 0.36 | 3.00 |
| Cash Ratio | 27.25 | 27.25 | 6.78 | 11.71 | 0.12 | 0.22 | 2.75 |
| Asset Turnover | — | — | — | — | — | — | — |
| Inventory Turnover | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
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 |
|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | 3.8% | — | — |
| FCF Yield | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — |
| Shares Outstanding | — | $18M | $6M | $6M | $8M | $9M | $11M |
Includes 30+ ratios · 6 years · Updated daily
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10-year return with dividends reinvested.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying VGAS stock.
Verde Clean Fuels, Inc.'s current P/E ratio is -3.3x. The historical average is 26.0x.
Verde Clean Fuels, Inc.'s return on equity (ROE) is -35.9%. The historical average is 10.9%.
Based on historical data, Verde Clean Fuels, Inc. is trading at a P/E of -3.3x. Compare with industry peers and growth rates for a complete picture.
Key Metrics
Top Statement Risk
Pre-revenue liquidity depletion
Metrics are mathematically derived from official filings.
Speculative Valuation Lacks Fundamental Anchor
As reported in financial statements, VGAS trades at a P/B of 0.42, reflecting a significant discount to book value that suggests the market assigns little weight to the company's current asset base while awaiting commercial validation of its proprietary STG+ technology in the Permian Basin.
The negative P/E of -1.72 is a byproduct of persistent operating losses, rendering traditional earnings-based valuation metrics inapplicable for this development-stage firm. Investors appear to be pricing the stock as a high-risk call option on future project success rather than a utility-like entity, which warrants caution regarding the lack of a dividend yield or cash-flow-based floor.
Debt-Free Status Masks Funding Vulnerability
Based on the company's reported figures, VGAS maintains a debt-to-capital ratio of 0.01 as of 2026Q1, indicating that the firm has avoided traditional leverage but remains entirely dependent on equity-based funding to sustain its operations in the absence of any recurring cash flow or regulatory cost recovery.
While the absence of debt provides a clean balance sheet, it also suggests that the company has not yet reached the stage where it can access project-level financing. This reliance on equity markets for liquidity may lead to further shareholder dilution, which investors should monitor closely as the firm approaches potential Final Investment Decisions.
Operational Benchmarking Against Technology Peers
According to recent market data, VGAS is frequently compared to renewable fuel technology firms like Gevo and LanzaTech, where the lack of profitability and high R&D spend are common, distinguishing these entities from traditional regulated utilities that rely on stable, rate-based returns on invested capital.
The company's valuation premium or discount relative to these peers appears driven by the perceived modularity of its STG+ technology rather than operational efficiency. Unlike regulated utilities, VGAS lacks the protection of an authorized ROE, meaning its future profitability will be dictated by commodity spreads and environmental credit markets rather than regulatory compacts.
Misapplication of Utility Valuation Metrics
The most commonly misapplied metric for VGAS is the P/E ratio, which is fundamentally inappropriate for a pre-revenue firm and obscures the reality that the company's value is derived from future project potential rather than current earnings power or the regulatory-anchored returns typical of traditional utilities.
Analysts should instead focus on the cash burn rate and the timeline to commercial-scale production, as these metrics provide a more accurate assessment of the company's runway. Applying standard utility valuation frameworks to VGAS risks ignoring the high-risk, commodity-linked nature of its business model, which lacks the defensive characteristics of a regulated rate base.