Verde Clean Fuels, Inc. reported its Q2 2026 financial results. Quarterly results update financial performance and may shift near-term investor views on operations.
| Nov 25 | Feb 26 | May 26 | Aug 26 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Buy | — | — | — | — | — | — | — | — | — | — | — | — |
| Sell | — | — | — | — | — | — | — | — | — | — | — | — |
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Cash | 28.88 | 19.14 | 57.32 | 53.55 |
| Receivables | — | 0.23 | 0.15 | — |
| Inventory | — | — | — | — |
| Other | — | — | — | — |
| 29.25 | 20.17 | 57.93 | 54.34 |
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Payables | 0.18 | 0.73 | 0.99 | 0.44 |
| ST’ Debt | — | — | — | — |
| Other | — | 0.02 | 0.04 | 0.13 |
| 2.46 | 2.81 | 2.10 | 2.08 |
| 10y | 5y | 3y | |
| Sales | — | — | — |
| Cash Flow | — | ‡‡‡ | ‡‡‡ |
| Earnings | — | ‡‡‡ | ‡‡‡ |
| Book Value | — | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Year |
|---|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | (2.62) | (0.83) | — | — |
—
|
| ’25 | (3.70) | (2.18) | (1.68) | (1.33) |
(8.89)
|
| ’24 | (2.83) | (2.19) | (1.64) | (2.22) |
(8.88)
|
| ’23 | (2.85) | (1.96) | (1.99) | (2.32) |
(9.11)
|
| ’22 | (0.78) | (0.86) | (0.68) | (0.97) |
(3.28)
|
| ’21 | (0.03) | 0.00 | (0.41) | (0.08) |
(0.53)
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | (3.07) | (0.83) | — | — |
—
|
| ’25 | (4.17) | (3.73) | (4.12) | (4.55) |
(16.57)
|
| ’24 | (2.84) | (2.73) | (2.53) | (3.33) |
(11.43)
|
| ’23 | (2.85) | (1.96) | (1.99) | (2.37) |
(9.17)
|
| ’22 | (0.78) | (0.86) | (0.68) | (0.97) |
(3.28)
|
| ’21 | (0.03) | 0.00 | (0.41) | (0.08) |
(0.53)
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | (0.05) | (0.04) | — | — |
—
|
| ’25 | (0.08) | (0.07) | (0.06) | (0.17) |
(0.39)
|
| ’24 | (0.13) | (0.14) | (0.12) | (0.14) |
(0.53)
|
| ’23 | (0.09) | (0.12) | (0.13) | (0.11) |
(0.45)
|
| ’22 | — | — | (0.11) | (0.01) |
(0.17)
|
| ’21 | 0.00 | 0.00 | — | — |
(0.02)
|
| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| — | — | — | — | — | ‡‡‡‡ | 8.95 | 2.10 | 1.95 | 1.98 | — | — | — |
Low Price
|
| — | — | — | — | — | ‡‡‡‡ | 11.73 | 21.00 | 5.61 | 4.37 | — | — | — |
High Price
|
| — | — | — | — | — | — | 5 | 6 | 10 | 12 | — | — | — |
Employees
|
| — | — | — | — | — | — | 0.00 | 0.00 | 0.00 | 0.00 | — | — | — |
Revenue/Emp
|
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Revenue
|
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Gross Margin
|
| — | — | — | — | ‡‡‡ | ‡‡‡‡‡ | 2.72 | (10.33) | (10.46) | (14.03) | — | — | — |
EBT
|
| — | — | — | — | ‡‡‡ | ‡‡‡ | 0.00% | 0.00% | 0.00% | 0.00% | — | — | — |
EBT Margin
|
| — | ‡‡‡ | — | — | ‡‡‡ | ‡‡‡‡‡ | 2.72 | (10.50) | (10.51) | (14.13) | — | — | — |
Net Income
|
| — | — | — | — | ‡‡‡ | — | 0.25 | 0.54 | 0.32 | 0.37 | — | — | — |
Depreciation
|
| — | — | — | — | ‡‡‡ | ‡‡‡ | 0.00 | 0.00 | 0.00 | 0.00 | — | — | — |
Revenue/Sh
|
| — | — | — | — | ‡‡‡ | ‡‡‡‡‡ | (0.28) | (0.45) | (0.53) | (0.39) | — | — | — |
Earnings/Sh
|
| — | — | — | — | ‡‡‡ | ‡‡‡‡‡ | (0.73) | (1.48) | (1.41) | (0.50) | — | — | — |
Cash Flow/Sh
|
| — | — | — | — | ‡‡‡ | ‡‡‡ | 0.00 | (0.01) | (0.41) | (0.43) | — | — | — |
Capex/Sh
|
| — | — | — | — | ‡‡‡ | ‡‡‡‡‡ | (0.73) | (1.49) | (1.82) | (0.93) | — | — | — |
Free CF/Sh
|
| — | — | — | — | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.25 | 4.69 | 3.29 | 3.26 | — | — | — |
Book Value/Sh
|
| — | — | — | — | ‡‡‡‡‡ | ‡‡‡‡‡ | 4.50 | 6.14 | 6.29 | 17.84 | — | — | — |
Shares
|
| — | — | — | — | — | — | — | — | — | — | — | — | — |
PE Ratio
|
| — | — | — | — | — | — | — | — | — | — | — | — | — |
PS Ratio
|
| — | — | — | — | — | — | — | — | — | — | — | — | — |
PB Ratio
|
| — | — | — | — | — | — | — | — | — | — | — | — | — |
EV/Sales
|
| — | — | — | — | — | — | — | — | — | — | — | — | — |
EV/FCF
|
| — | — | — | — | ‡‡‡ | ‡‡‡‡‡ | (3.28) | (9.11) | (8.88) | (8.89) | — | — | — |
Op' Cash Flow
|
| — | — | — | — | ‡‡‡ | — | 0.00 | (0.06) | (2.55) | (7.68) | — | — | — |
Capex
|
| — | — | — | — | ‡‡‡ | ‡‡‡‡‡ | (3.28) | (9.17) | (11.43) | (16.57) | — | — | — |
FCF
|
| — | — | — | — | ‡‡‡‡‡ | ‡‡‡‡‡ | (0.03) | 26.79 | 17.36 | 55.83 | — | — | — |
Working Cap'
|
| — | — | — | — | ‡‡‡‡‡ | — | 1.95 | 0.41 | — | — | — | — | — |
Total Debt
|
| — | — | — | — | ‡‡‡‡‡ | ‡‡‡‡‡ | 1.49 | (28.47) | (19.14) | (57.31) | — | — | — |
Net Debt
|
| — | — | — | — | ‡‡‡‡‡ | ‡‡‡‡‡ | 1.10 | 28.83 | 20.68 | 58.14 | — | — | — |
Sh' Equity
|
| — | — | — | — | ‡‡‡‡‡ | ‡‡‡‡‡ | 3.00% | (14.33%) | (12.01%) | (16.60%) | — | — | — |
ROA
|
| — | — | — | — | ‡‡‡ | ‡‡‡ | 65.62% | (1,852.93%) | (473.40%) | (1,254.12%) | — | — | — |
ROIC
|
| — | — | — | — | ‡‡‡‡‡ | ‡‡‡‡‡ | (122.43%) | (18.33%) | (13.47%) | (17.66%) | — | — | — |
ROE
|
Verde Clean Fuels, Inc. (VGAS) is a high-risk development-stage player in the sustainable aviation fuel (SAF) space, using proprietary ethanol-to-jet technology to convert wood waste into low-carbon fuels. With no revenue and accelerating cash burn from plant construction, the stock has swung wildly—peaking over 1,000% in 2023 on SPAC merger hype before plunging 83% from its 2024 high to trade at just 29% of book value per share. A robust balance sheet, featuring net cash of over $19 million and minimal debt, offers a rare buffer in this capital-intensive sector, potentially signaling undervaluation amid U.S. policy tailwinds like Inflation Reduction Act incentives.
Financials underscore execution risks: EPS has steadily worsened to -0.53 in 2024, free cash flow per share hit -1.82 amid ramping capex, and runway sits at a precarious 18-24 months without further dilution. While shareholders’ equity remains positive at $20.7 million post-equity raises, ongoing losses and construction delays at the 15 million gallon Arkansas facility highlight the binary nature of cleantech bets, where median commercialization timelines exceed three years.
Forward prospects hinge on milestones like final investment decisions by late 2025, with base-case breakeven by 2027 (35% probability) or bull scenarios yielding 300% upside via partnerships (20% odds), against bearish dilution risks (40%). Trading at a steep discount to book value with policy-driven SAF mandates accelerating, VGAS tempts patient investors—but only those tolerant of deep downside in sentiment-driven micro-caps.
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