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ClearSign Technologies Corporation

CLIR Industrials Pollution & Treatment Controls

ClearSign Technologies Corporation’s revenue for fiscal 2025 (year ended December 2025) was $5.2 million, up 45.6% from fiscal 2024.

Revenue
+321.1%
EPS
+26.7%
Free cash flow
−137.5%

Quarter to June 2026, against a year earlier

2.31 0.00 0.00%
Market cap
$15.7M
P/E
0.0×
Fwd P/E
0.0×
Dividend yield
—
F-score
4/9
Altman Z
−5.55
Beneish M
1.98
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Bought, $m 1.80
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — 1 1 — — 1 — — — —
Sell — — — — — — — — — — — —
Insider Ownership 0.00%

Capital & Financial Ratios $m

Size
Market Cap 15.73
Revenue ttm 5.45
Net income ttm (5.24)
Free cash flow ttm (5.83)
Net debt Q (9.89)
Valuation
P/E 0.00
Forward P/E 0.00
Price / sales 2.50
Forward P/S Powerpack
Price / FCF 0.00
Price / book 1.39
Financial health
Current ratio Q 4.78 (at or above 1.5: strong)
Debt / equity Q 0.00 (at or below 0.5: strong)
Interest coverage Q 27.75
Growth
Revenue growth Q +321.05% (above 0%: growing)
Operating income growth Q +18.50% (above 0%: growing)
EPS, this year +5.05%
EPS, next year A +44.15% (at or above 15%: strong)
Revenue, next year A −43.77% (below 0%: weak)
EPS, past 5 yrs —
EPS, next 5 yrs A +65.69% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 0.7×, against a ten-year median of 17.8×; over the ten years it ranged from 0.7× in 2026 to 114× in 2021.
P/S against its own 10 years 0.08%
10-year low 10-year high
P/B against its own 10 years 1.21%
10-year low 10-year high
EV/Sales against its own 10 years 0.08%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 6 14 9 10
Receivables 0 0 1 0
Inventory — — — —
Other 0 1 0 0
7 15 11 11
2023 2024 2025 Q'26
Payables 0 1 2 1
ST’ Debt — — — —
Other 1 0 0 0
2 2 3 2

Compound Annual Growth %

10y 5y 3y
Sales — 58.09% 140.98%
Cash Flow 0.00% 0.00% 0.00%
Earnings 0.00% 0.00% 0.00%
Book Value (2.74%) (0.02%) (0.08%)

Earnings Trends EPS, adjusted, against the consensus

Q2 FY26 Estimate −0.25 Actual −0.22

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q2 FY25 −0.40 −0.30 Beat by 0.10
Q3 FY25 −0.40 −0.30 Beat by 0.10
Q1 FY26 −0.29 −0.39 Miss by 0.10
Q2 FY26 −0.25 −0.22 Beat by 0.03
Q3 FY26 −0.20 — Reports 13 November 2026

EPS $

Mar Jun Sep Dec Year
’26 (0.39) (0.22) — — —
’25 (0.38) (0.30) (0.26) (0.05) (0.99)
’24 (0.30) (0.40) (0.20) (0.25) (1.10)
’23 (0.40) (0.40) (0.30) (0.20) (1.30)
’22 (0.50) (0.50) (0.30) (0.30) (1.60)
’21 (0.70) (0.70) (0.70) (0.40) (2.50)
’20 (0.70) (0.50) (0.60) (0.60) (2.50)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 0 1 — — —
’25 0 0 1 4 5
’24 1 0 2 1 4
’23 1 0 0 1 2
’22 — — 0 0 0
’21 0 — 0 0 1
’18 1 — — — 1
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (1) (1) — — —
’25 (1) (1) (2) (1) (5)
’24 (1) (2) (1) 0 (4)
’23 (1) 0 (1) (1) (3)
’22 (2) (2) (1) (1) (5)
’21 (2) (2) (2) (1) (7)
’20 (1) (2) (1) (2) (6)
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (1) (1) — — —
’25 (1) (1) (2) (1) (5)
’24 (1) (2) (1) 0 (5)
’23 (1) 0 (1) (2) (3)
’22 (2) (2) (1) (1) (5)
’21 (2) (2) (2) (1) (7)
’20 (1) (2) (1) (2) (6)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 1 1 1 — — 1 0 2 4 5 5 +26.7% 3 11 20 +55.9%
Gross margin, % 21.90 29.63 19.43 0.00 0.00 (74.46) 31.02 34.00 31.09 27.21 18.49 +5.3 pt
EBT (11) (10) (9) (8) (7) (8) (6) (5) (5) (5) (5) (7.6%)
EBT margin, % (1,799.19) (1,792.59) (1,792.45) 0.00 0.00 (1,300.16) (1,539.57) (216.15) (147.36) (105.01) (96.07) +1,694.2 pt
Net income (11) (10) (9) (8) (7) (8) (6) (5) (5) (5) (5) (7.6%)
Per share, $
Per share, $ Revenue 0.48 0.35 0.23 0.00 0.00 0.19 0.11 0.62 0.73 0.94 0.92 +7.8%
Earnings (8.60) (6.30) (4.20) (3.20) (2.50) (2.50) (1.60) (1.30) (1.10) (0.99) (0.92) (21.4%)
Cash flow (6.71) (5.35) (3.67) (2.58) (2.14) (2.15) (1.41) (0.84) (0.89) (0.85) (0.96) (20.5%)
Capex (0.82) (0.27) (0.22) (0.16) (0.07) (0.07) (0.04) (0.05) (0.04) (0.02) (0.02) (34.5%)
Free cash flow (7.52) (5.63) (3.89) (2.74) (2.21) (2.22) (1.45) (0.89) (0.94) (0.87) (0.98) (21.3%)
Book value 1.74 1.58 7.40 3.46 3.43 2.65 2.70 1.35 2.81 1.72 1.66 (0.1%)
Shares, m 1 2 2 3 3 3 4 4 5 6 6 +17.6%
Valuation, ×
Valuation, × P/E 0.00 0.00 0.00 — — 0.00 0.00 0.00 0.00 0.00 0.00 0.0
P/S 57.54 46.49 16.29 — — 37.91 30.31 17.14 19.60 5.90 2.50 28.9
P/B 19.59 22.19 1.38 — — 5.20 1.96 7.93 5.12 3.24 1.39 8.3
EV/Sales 56.35 45.58 5.26 — — 31.44 16.06 14.88 15.76 4.19 0.73 23.7
EV/FCF (4.43) (6.10) (0.85) — — (5.17) (1.94) (10.43) (12.35) (4.53) (0.69) (5.7)
Cash, $m
Cash, $m Operating cash flow (9) (8) (8) (7) (6) (7) (5) (3) (4) (5) (6) (6.5%)
Capex (1) 0 (1) 0 0 0 0 0 0 0 0 (22.9%)
Free cash flow (10) (9) (9) (7) (6) (7) (5) (3) (5) (5) (6) (7.5%)
Balance, $m
Balance, $m Working capital 0 0 15 8 8 7 9 4 13 9 9 +51.3%
Net debt (1) (1) (16) (8) (9) (8) (9) (6) (14) (9) (10) +29.3%
Shareholders’ equity 2 2 17 9 10 8 10 5 14 10 10 +17.4%
Returns, %
Returns, % ROA (120.87) (229.19) (83.34) (57.33) (62.40) (77.05) (56.76) (56.02) (44.34) (38.62) (39.64) +82.3 pt
ROIC (523.40) (439.86) (530.31) (491.24) (447.57) (754.17) (772.35) 0.00 0.00 (1,184.48) 0.00 (661.1) pt
ROE (150.76) (414.03) (98.24) (64.89) (73.36) (88.55) (64.57) (70.46) (55.91) (47.19) (51.73) +103.6 pt
People
People Employees 20 18 18 15 15 12 16 15 18 15 — (3.1%)
Revenue/emp, $m 0.03 0.03 0.03 0.00 0.00 0.05 0.02 0.16 0.20 0.35 — +30.8%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026 · fundamentals updated 25 Oct 2026

ClearSign Technologies Corporation vs peers in Pollution & Treatment Controls (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
ARQ Arq, Inc. $104.8M — (loss-making) — (loss-making) +8.94% (above 0%: growing) n/m +106.38% (above 0%: growing) 39.70% 8.18% Compare
SCWO 374Water Inc. $42.8M — (loss-making) — +280.17% (above 0%: growing) n/m +85.28% (above 0%: growing) 87.67% (71.70%) Compare
FTEK Fuel Tech, Inc. $41.5M — (loss-making) — (loss-making) +15.83% (above 0%: growing) n/m −159.84% (below 0%: shrinking) 45.01% (6.03%) Compare
BCHT Birchtech Corp. $27.1M — (loss-making) — (loss-making) +16.50% (above 0%: growing) n/m −68.00% (below 0%: shrinking) 27.24% (42.81%) Compare
TOMZ TOMI Environmental Solutions, Inc. $17.8M — (loss-making) — (loss-making) +117.91% (above 0%: growing) n/m −531.53% (below 0%: shrinking) 61.65% (10.86%) Compare
CLIR ClearSign Technologies Corporation $15.7M — (loss-making) — (loss-making) +321.05% (above 0%: growing) n/m −137.48% (below 0%: shrinking) 40.71% (267.50%)
LIQT LiqTech International, Inc. $9.9M — (loss-making) — (loss-making) −11.98% (below 0%: shrinking) n/m −99.23% (below 0%: shrinking) 8.38% (53.44%) Compare
CLWT Euro Tech Holdings Company Limited $8.8M 15.3× — −20.86% (below 0%: shrinking) n/m −164.72% (below 0%: shrinking) 18.83% 0.00% Compare
RAIN Rain Enhancement Technologies Holdco, Inc. $6.3M — (loss-making) — — n/m −19.67% (below 0%: shrinking) 0.00% 0.00% Compare
Median of peers $22.4M — — +15.83% — −83.61% 33.47% (8.44%)

All 16 Pollution & Treatment Controls stocks →

Pay and ownership Proxy statement filed 28 April 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 547.34k (732.44k) 103.75
2024 475.26k 675.92k 268.66
2023 527.31k 475.07k 207.09

Ownership

Directors and executive officers, together 5.22%
Otter Capital LLC 19.99%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

ClearSign Technologies Corporation (CLIR) Latest News

22 Oct

Impact 3 · · ACCESS Newswire

1 Oct

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30 Sep

Impact 4 · · ACCESS Newswire
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20 Aug

Impact 4 · transcript
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11 Aug

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28 May

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21 May

Impact 3 · · Zacks
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20 May

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14 May

Impact 4 · · ACCESS Newswire

10 Apr

Impact 4 · · Moby
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9 Apr

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11 Mar

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17 Feb

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7 Jan

Impact 3 · · ACCESS Newswire

24 Dec

Impact 3 · · Simply Wall St.

26 Nov

Impact 4 · · Zacks

20 Nov

Impact 3 · · GuruFocus.comZacksAssociated Press FinanceZacksGuruFocus.comGuruFocus.com

19 Nov

Impact 3 ·

14 Nov

Impact 3 · · Associated Press Finance

4 Nov

Impact 4 · · ACCESS Newswire

28 Oct

Impact 3 · · ACCESS Newswire

23 Oct

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8 Oct

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7 Oct

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23 Sep

Impact 4 · · ACCESS NewswireZacksMT NewswiresMT NewswiresBenzingaMT Newswires
stockrow.com/CLIR · Data as of Oct 25, 2026 · For information only; not investment advice. · © 2026 stockrow.com