Clean Energy Fuels Corp.
CLNE · Gas & Other Services Combined · 220.2M shares · +2%/yr ↑ dilution · EDGAR filings ↗
Reference price $1.75 · est. market cap ~$385M — last insider purchase, 2026-06-25 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
D50RNG/CNG fuel provider generating cash flow but still deeply unprofitable on a GAAP basis.
Strengths
- Positive free cash flow with FCF margin 14% (75th pct) and OCF margin 20% (74th pct)
- Reasonable balance sheet: debt/equity 0.41, current ratio 2.3
Risks
- Negative net margin -52% (23rd pct), operating margin -38%, and negative ROIC -16% (19th pct)
- Sluggish revenue growth (2%, 37th pct) in a structurally challenged transport-fuel niche
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
- Net lossNet loss (net margin -52.3%)
- Strong balance sheetStrong balance sheet — $156M cash & investments
- Insider buyingInsider buying — 2 open-market buy(s) by 2 insider(s) (cluster of 2 insiders, last 6mo) Form 4 ↗
- Insider sellingInsider selling — 1 open-market sale(s) by 1 insider(s) (~$337,640, last 6mo) Form 4 ↗
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Operating margin
-37.6%
Net margin
-52.3%
Return on equity
-39.7%
Return on assets
-21.0%
ROIC
-16.1%
Revenue growth (QoQ)
4.7%
Debt / equity
0.4×
Current ratio
2.3×
Free cash flow
$60M
EBITDA
-$61M
Tangible book value
$550M
Cash & investments
$156M
Stock comp / revenue
2.1%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-25 | Scully Stephen | Buy | 25K | $1.75 |
| 2026-06-23 | Frabotta Bartolomeo A. | Grant | 50K | — |
| 2026-06-23 | Corbus Barclay | Buy | 14K | $1.77 |
| 2026-06-10 | Scully Stephen | Gift | 68K | — |
| 2026-06-10 | Scully Stephen | Grant | 68K | — |
| 2026-06-10 | Taormina Vincent C | Grant | 68K | — |
| 2026-06-10 | Taormina Vincent C | Gift | 68K | — |
| 2026-06-10 | Taormina Vincent C | Grant | 68K | — |
| 2026-06-10 | ARDISANA LIZABETH A | Grant | 68K | — |
| 2026-06-10 | Littlefair Andrew J | Grant | 68K | — |
| 2026-06-10 | Ford Patrick J | Grant | 68K | — |
| 2026-06-10 | Scully Stephen | Grant | 68K | — |
| 2026-05-18 | Littlefair Andrew J | Sell | 165K | $2.05 |
| 2026-04-22 | Corbus Barclay | Grant | 167K | — |
| 2026-04-22 | Littlefair Andrew J | Grant | 403K | — |
| 2026-03-04 | Vreeland Robert M. | Tax withheld | 31K | $2.32 |
| 2026-03-04 | Corbus Barclay | Tax withheld | 61K | $2.32 |
| 2026-03-04 | Littlefair Andrew J | Tax withheld | 42K | $2.32 |
| 2026-03-02 | Corbus Barclay | Grant | 200K | — |
| 2026-03-02 | Vreeland Robert M. | Grant | 200K | — |
| 2026-03-02 | Littlefair Andrew J | Grant | 250K | — |
| 2026-02-27 | Littlefair Andrew J | Tax withheld | 26K | $2.26 |
| 2026-02-27 | Vreeland Robert M. | Tax withheld | 36K | $2.26 |
| 2026-02-27 | Corbus Barclay | Tax withheld | 31K | $2.26 |
| 2025-09-18 | Corbus Barclay | Sell | 105K | $2.63 |
| 2025-08-14 | Littlefair Andrew J | Sell | 250K | $2.25 |
| 2025-05-22 | Taormina Vincent C | Grant | 32K | — |
| 2025-05-22 | Taormina Vincent C | Gift | 32K | — |
| 2025-05-22 | Taormina Vincent C | Grant | 32K | — |
| 2025-05-22 | Ford Patrick J | Grant | 32K | — |
| 2025-05-22 | ARDISANA LIZABETH A | Grant | 32K | — |
| 2025-05-22 | Scully Stephen | Grant | 32K | — |
| 2025-05-22 | Scully Stephen | Gift | 32K | — |
| 2025-05-22 | Scully Stephen | Grant | 32K | — |
| 2025-03-21 | Vreeland Robert M. | Buy | 5.0K | $1.67 |
| 2025-03-21 | Vreeland Robert M. | Buy | 5.0K | $1.68 |
| 2025-03-06 | Vreeland Robert M. | Buy | 10K | $1.83 |
| 2025-03-04 | Corbus Barclay | Tax withheld | 49K | $1.88 |
| 2025-03-04 | Vreeland Robert M. | Tax withheld | 32K | $1.88 |
| 2025-03-04 | Littlefair Andrew J | Tax withheld | 30K | $1.88 |
| 2025-02-27 | Corbus Barclay | Grant | 200K | — |
| 2025-02-27 | Vreeland Robert M. | Grant | 200K | — |
| 2025-02-27 | Littlefair Andrew J | Grant | 212K | — |
| 2025-02-26 | Vreeland Robert M. | Buy | 15K | $1.94 |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-23 | Exec/director changeReg FDExhibits | filing ↗ |
| 2026-06-10 | Shareholder vote | filing ↗ |
| 2026-05-07 | ResultsExhibits | filing ↗ |
| 2026-04-23 | Exec/director changeReg FDExhibits | filing ↗ |
| 2026-02-24 | ResultsExhibits | filing ↗ |
| 2025-11-21 | Exec/director change | filing ↗ |
| 2025-11-04 | ResultsExhibits | filing ↗ |
| 2025-09-11 | Exec/director changeReg FDExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-23 | 2026-06-19 | 0001104659-26-076660 ↗ |
| 8-K | 2026-06-10 | 2026-06-10 | 0001104659-26-072339 ↗ |
| 10-Q | 2026-05-07 | 2026-03-31 | 0001104659-26-057194 ↗ |
| 8-K | 2026-05-07 | 2026-05-07 | 0001104659-26-057158 ↗ |
| 8-K | 2026-04-23 | 2026-04-22 | 0001104659-26-047340 ↗ |
| 8-K | 2026-02-24 | 2026-02-24 | 0001104659-26-019128 ↗ |
| 10-K | 2026-02-24 | 2025-12-31 | 0001104659-26-019215 ↗ |
| 8-K | 2025-11-21 | 2025-11-17 | 0001104659-25-115054 ↗ |
| 8-K | 2025-11-04 | 2025-11-04 | 0001104659-25-106289 ↗ |
| 10-Q | 2025-11-04 | 2025-09-30 | 0001104659-25-106319 ↗ |
| 8-K | 2025-09-11 | 2025-09-10 | 0001410578-25-002018 ↗ |
| 10-Q | 2025-08-07 | 2025-06-30 | 0001558370-25-010791 ↗ |