Clean Energy Fuels Corp.
CLNE Energy Oil & Gas Refining & Marketing
In the quarter to June 2026, revenue grew 3.65%, EPS grew 22.2%, free cash flow grew 14.1% and total debt fell 17.5%, each against the same quarter a year earlier. Insiders bought in the last twelve months.
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Clean Energy Fuels Corp. (CLNE) Altman Z-score
Clean Energy Fuels Corp.'s Altman Z-score for fiscal 2025 is −0.94, in the distress zone (below 1.81).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | −0.94 | (0.93) |
| FY2024 | −0.01 | (0.38) |
| FY2023 | 0.37 | (1.10) |
| FY2022 | 1.47 | (1.58) |
| FY2021 | 3.05 | (1.21) |
| FY2020 | 4.27 | 3.56 |
| FY2019 | 0.71 | 0.26 |
| FY2018 | 0.46 | 1.10 |
| FY2017 | −0.65 | (0.83) |
| FY2016 | 0.18 | 0.37 |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.19 | — | 0.23 | |
| Retained earnings / total assets | (1.17) | — | −1.64 | |
| EBIT / total assets | (0.15) | — | −0.50 | |
| Market value of equity / total liabilities | 0.94 | — | 0.57 | |
| Sales / total assets | 0.40 | — | 0.40 | |
| Altman Z-score | Distress zone | −0.94 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −2.38 | ||
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| WKC World Kinect Corporation compare | 6.5× |
| PARR Par Pacific Holdings, Inc. compare | 3.3× |
| DK Delek US Holdings, Inc. compare | 1.7× |
| CSANY Cosan S.A. Sponsored ADR compare | 0.8× |
| CLNE Clean Energy Fuels Corp. | −0.9× |
| CAPL CrossAmerica Partners LP compare | — |
| DKL Delek Logistics Partners, L.P. compare | — |
| SGU Star Group, L.P. compare | — |
| SHI SINOPEC Shangai Petrochemical Company, Ltd. compare | — |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets