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Clean Energy Fuels (CLNE)
NASDAQ:CLNE
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Clean Energy Fuels
(NASDAQ:CLNE)
Rating:60Neutral
Price Target:
$2.00
▼(-6.98%Downside)
Positive Factors
Fuel Margins
1Q25 EBITDA benefited from a large increase in fuel margins, with margins steadily increasing.
Natural Gas Sourcing
The company has the ability to source cheap natural gas feedstock, enhancing unit margin performance.
Negative Factors
Fuel Volumes
Fuel volumes were significantly below expectations, impacting overall performance.
Purchasing Trends
Purchasing of heavy-duty trucks slowed, indicating potential challenges in the market.
Clean Energy Fuels (CLNE) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$475.11M
Dividend YieldN/A
Average Volume (3M)2.80M
Price to Earnings (P/E)―
Beta (1Y)1.74
Revenue Growth6.50%
EPS Growth-151.25%
CountryUS
Employees577
SectorEnergy
Sector Strength54
IndustryOil & Gas Refining & Marketing
Share Statistics
EPS (TTM)0.01
Shares Outstanding220,981,920
10 Day Avg. Volume2,806,526
30 Day Avg. Volume2,802,860
Financial Highlights & Ratios
PEG Ratio0.02
Price to Book (P/B)0.71
Price to Sales (P/S)0.00
P/FCF Ratio17.18
Enterprise Value/Market Cap0.83
Enterprise Value/Revenue0.24
Enterprise Value/Gross Profit4.20
Enterprise Value/Ebitda-5.78
Forecast
1Y Price Target
$7.75Price Target Upside260.47% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
Clean Energy Fuels Business Overview & Revenue Model
Company DescriptionClean Energy Fuels Corp. (CLNE) is a leading provider of natural gas as an alternative fuel for vehicle fleets in the United States and Canada. The company specializes in the supply of renewable natural gas (RNG), compressed natural gas (CNG), and liquefied natural gas (LNG) to a variety of sectors, including trucking, airport shuttles, refuse, and public transit. Clean Energy Fuels also offers fueling station design, construction, and operation services, making it a comprehensive partner for businesses looking to switch to cleaner energy sources.
How the Company Makes MoneyClean Energy Fuels generates revenue primarily through the sale of RNG, CNG, and LNG to fleet customers across different industries. The company earns money by operating a network of fueling stations and selling these alternative fuels directly to end-users. Additionally, Clean Energy Fuels benefits from various environmental credits and incentives associated with the production and sale of renewable fuels. The company also provides services such as the design and construction of fueling stations, further contributing to its earnings. Strategic partnerships with fleet operators and municipalities enhance its distribution network and customer base, supporting revenue growth.
Clean Energy Fuels Earnings Call Summary
Earnings Call Date:May 08, 2025
(Q1-2025)
| % Change Since: 25.73%|
Next Earnings Date:Aug 06, 2025
Earnings Call Sentiment Neutral
The earnings call highlighted strong financial results, stable demand, and ongoing expansion in Clean Energy Fuels' core operations and infrastructure. However, challenges such as lower RNG volumes, economic uncertainties, and significant non-cash charges were also noted. The positive aspects related to financial performance and demand stability were somewhat balanced by these challenges.Q1-2025 Updates
Positive Updates
Strong Q1 Financial Performance
Clean Energy Fuels reported $104 million in revenue and $17 million in adjusted EBITDA for Q1 2025, with a $9 million increase in cash to $227 million since the start of the year.
Stable Demand from Core Customers
Despite market uncertainties, there was no material decline in demand from Clean Energy Fuels' core customers in the refuse, transit, and trucking sectors.
Expansion and New Projects
Completed a new RNG station for Burrtec in Victorville, CA and expanded relationships with USA Hauling and other transit agencies, indicating growth in infrastructure and customer base.
Positive Outlook for Heavy-Duty Trucking
RNG is seen as a viable low-carbon fuel alternative for heavy-duty trucks, with positive feedback from industry leaders at the Advanced Clean Transportation Expo.
Continued Upstream Dairy RNG Production
Six dairy RNG production projects are operational with two more expected by the end of the year, showing progress in upstream production capabilities.
Negative Updates
Lower RNG Sales Volumes
RNG sales volumes were lower compared to Q1 2024 due to reduced supply from third-party producers impacted by weather and operational issues.
Impact of Tariffs and Economic Uncertainty
Potential indirect impacts from tariffs on trucking supply chains and economic activity may affect customer business planning and natural gas vehicle purchases.
GAAP Loss Due to Non-Cash Charges
Reported a GAAP loss of $135 million, primarily due to $115 million in non-cash charges from accelerated depreciation and a goodwill write-off.
Challenges with RNG Volumes and Pathways
Operational challenges and lengthy certification processes for RNG pathways are affecting volumes and project timelines.
Company Guidance
During the Clean Energy Fuels First Quarter 2025 Earnings Conference Call, the company reported selling 51 million gallons of renewable natural gas, generating $104 million in revenue, and achieving $17 million in adjusted EBITDA. The company ended the quarter with $227 million in cash, a $9 million increase from the beginning of the year. Although RNG sales volumes were down compared to the first quarter of 2024 due to lower supply from third-party producers, the company maintained its full-year financial outlook and CapEx guidance. The company's network of fueling stations in the U.S. and Canada, along with steady demand from fleet customers, supported a solid quarter despite market uncertainties. Additionally, Clean Energy highlighted its ongoing partnerships and infrastructure expansions, including a new RNG station for long-time customer Burrtec in California.Clean Energy Fuels Financial Statement Overview
Summary
Clean Energy Fuels exhibits stable revenues but faces ongoing profitability challenges with negative profit margins and return on equity. The company maintains a solid equity base and conservative leverage, with positive cash flow management providing a buffer for future operations.Income Statement
Clean Energy Fuels demonstrates a fluctuating financial performance with a consistent negative EBIT and net income over the periods examined. The gross profit margin for the latest TTM is 22.69%, showing some profitability before operating expenses. However, the net profit margin remains negative at -47.98%, indicating ongoing challenges in achieving profitability. Revenue has remained relatively stable, showing a slight decrease from the previous periods, which poses a challenge for growth expectations.55
Neutral
Balance Sheet
The balance sheet reveals moderate stability with a debt-to-equity ratio of 0.16 in the latest TTM, indicating a conservative use of leverage. The equity ratio stands at 53.45%, suggesting a strong equity base relative to total assets. Return on equity is negative at -33.45%, reflecting challenges in generating returns for shareholders amidst persistent losses.60
Neutral
Cash Flow
The cash flow statement shows a positive free cash flow of $24.44 million in the latest TTM, indicating some operational resilience. The operating cash flow to net income ratio is -0.43, reflecting the current inefficiencies in converting income into cash. However, the improvement in free cash flow compared to previous periods suggests efforts towards better cash management.65
Positive
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 415.86M | 415.87M | 425.16M | 420.16M | 255.65M | 291.72M |
| Gross Profit | 94.36M | 83.58M | 35.87M | 57.75M | -5.14M | 58.63M |
| EBITDA | -69.92M | -4.08M | -32.63M | 5.01M | -41.48M | 46.57M |
| Net Income | -199.59M | -83.07M | -99.50M | -59.59M | -94.16M | -11.53M |
Balance Sheet | ||||||
| Total Assets | 1.12B | 1.24B | 1.26B | 1.08B | 957.07M | 715.03M |
| Cash, Cash Equivalents and Short-Term Investments | 228.74M | 219.53M | 263.13M | 265.52M | 229.17M | 138.50M |
| Total Debt | 96.74M | 365.13M | 360.51M | 201.76M | 82.31M | 115.59M |
| Total Liabilities | 513.69M | 524.36M | 525.81M | 354.89M | 201.66M | 192.18M |
| Stockholders Equity | 596.70M | 713.27M | 726.77M | 719.99M | 747.08M | 513.51M |
Cash Flow | ||||||
| Free Cash Flow | 24.44M | -418.00K | -77.50M | 13.23M | 12.39M | 47.77M |
| Operating Cash Flow | 85.99M | 64.58M | 43.78M | 66.73M | 41.30M | 61.04M |
| Investing Cash Flow | -50.43M | -77.68M | -202.01M | -148.54M | -207.66M | 24.17M |
| Financing Cash Flow | -6.28M | -1.94M | 139.12M | 101.65M | 152.83M | -18.66M |
Clean Energy Fuels Technical Analysis
Positive
2.15
Price Trends
1.80
Positive
1.87
Positive
2.40
Negative
Market Momentum
0.06
Negative
65.75
Neutral
88.94
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CLNE, the sentiment is Positive. The current price of 2.15 is above the 20-day moving average (MA) of 1.91, above the 50-day MA of 1.80, and below the 200-day MA of 2.40, indicating a neutral trend. The MACD of 0.06 indicates Negative momentum. The RSI at 65.75 is Neutral, neither overbought nor oversold. The STOCH value of 88.94 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CLNE.
Clean Energy Fuels Peers Comparison
Overall Rating
UnderperformOutperform
Sector (44)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | $404.42M | 6.85 | 16.51% | 6.32% | 2.38% | 114.29% | |
68 Neutral | $1.62B | 3.02 | -4.95% | ― | -9.25% | -113.66% | |
60 Neutral | $475.11M | ― | -30.25% | ― | 6.50% | -151.25% | |
54 Neutral | $800.05M | 26.49 | 666.62% | 10.00% | -6.57% | -50.55% | |
51 Neutral | $1.40B | ― | -151.69% | 4.41% | -29.23% | -931.43% | |
51 Neutral | $169.43M | ― | 37.38% | ― | -7.51% | -67.44% | |
44 Neutral | AU$1.39B | -6.73 | -23.02% | 6.50% | 5.33% | -26.92% |
* Energy Sector Average
Performance Comparison
CLNE
Clean Energy Fuels
2.15
-0.22
-9.28%
DK
Delek US Holdings
23.13
1.30
5.96%
SGU
Star Gas Partners
11.71
1.62
16.06%
CAPL
Crossamerica Partners
20.74
2.81
15.67%
PARR
Par Pacific Holdings
31.45
7.06
28.95%
AMTX
Aemetis
3.06
-0.31
-9.20%
Clean Energy Fuels Corporate Events
Executive/Board ChangesShareholder MeetingsBusiness Operations and Strategy
Clean Energy Fuels Holds Annual Stockholder Meeting
Neutral
May 23, 2025
On May 22, 2025, Clean Energy Fuels Corp. held its annual meeting of stockholders, where four proposals were considered and voted upon. The stockholders elected seven directors to the board, ratified KPMG LLP as the independent accounting firm for 2025, approved the executive compensation on a non-binding basis, and adopted the Amended and Restated 2024 Performance Incentive Plan. These decisions are expected to impact the company’s governance and operational strategies moving forward.
The most recent analyst rating on (CLNE) stock is a Buy with a $6.00 price target. To see the full list of analyst forecasts on Clean Energy Fuels stock, see the CLNE Stock Forecast page.
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.