NasdaqGS:CLNE

Stock Analysis Report

Executive Summary

Clean Energy Fuels Corp. provides natural gas as an alternative fuel for vehicle fleets in the United States and Canada.

Rewards

Trading at 0.9% below its fair value

Earnings are forecast to grow 95.5% per year

Earnings have grown 23.7% per year over the past 5 years

Risk Analysis

Shareholders have been diluted in the past year



Snowflake Analysis

Excellent balance sheet with moderate growth potential.


Similar Companies

Share Price & News

How has Clean Energy Fuels's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: CLNE has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-3.2%

CLNE

-3.9%

US Oil and Gas

-0.09%

US Market


1 Year Return

25.8%

CLNE

-8.6%

US Oil and Gas

23.9%

US Market

Return vs Industry: CLNE exceeded the US Oil and Gas industry which returned -4.2% over the past year.

Return vs Market: CLNE exceeded the US Market which returned 24.6% over the past year.


Shareholder returns

CLNEIndustryMarket
7 Day-3.2%-3.9%-0.09%
30 Day3.8%-5.0%3.1%
90 Day10.4%-1.6%10.4%
1 Year25.8%25.8%-5.2%-8.6%26.6%23.9%
3 Year-9.0%-9.0%-11.6%-19.7%50.9%41.2%
5 Year-41.5%-41.5%-12.4%-25.1%78.1%58.5%

Price Volatility Vs. Market

How volatile is Clean Energy Fuels's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Clean Energy Fuels undervalued compared to its fair value and its price relative to the market?

1.6%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: CLNE ($2.45) is trading below our estimate of fair value ($2.47)

Significantly Below Fair Value: CLNE is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: CLNE is unprofitable, so we can't compare its PE Ratio to the Oil and Gas industry average.

PE vs Market: CLNE is unprofitable, so we can't compare its PE Ratio to the US market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate CLNE's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: CLNE is overvalued based on its PB Ratio (1.1x) compared to the US Oil and Gas industry average (1x).


Next Steps

Future Growth

How is Clean Energy Fuels forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?

95.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: CLNE is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (1.7%).

Earnings vs Market: CLNE is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: CLNE's is expected to become profitable in the next 3 years.

Revenue vs Market: CLNE's revenue (4.2% per year) is forecast to grow slower than the US market (7.5% per year).

High Growth Revenue: CLNE's revenue (4.2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if CLNE's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Clean Energy Fuels performed over the past 5 years?

23.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: CLNE is currently unprofitable.

Growing Profit Margin: CLNE is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: CLNE is unprofitable, but has reduced losses over the past 5 years at a rate of 23.7% per year.

Accelerating Growth: Unable to compare CLNE's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: CLNE is unprofitable, making it difficult to compare its past year earnings growth to the Oil and Gas industry (-13.3%).


Return on Equity

High ROE: CLNE has a negative Return on Equity (-4.03%), as it is currently unprofitable.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Clean Energy Fuels's financial position?


Financial Position Analysis

Short Term Liabilities: CLNE's short term assets ($215.6M) exceed its short term liabilities ($121.4M).

Long Term Liabilities: CLNE's short term assets ($215.6M) exceed its long term liabilities ($61.9M).


Debt to Equity History and Analysis

Debt Level: CLNE's debt to equity ratio (15.8%) is considered satisfactory.

Reducing Debt: CLNE's debt to equity ratio has reduced from 139.5% to 15.8% over the past 5 years.


Balance Sheet

Inventory Level: CLNE has a high level of physical assets or inventory.

Debt Coverage by Assets: CLNE's debt is covered by short term assets (assets are 2.7x debt).


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: CLNE has sufficient cash runway for more than 3 years based on its current free cash flow.

Forecast Cash Runway: Insufficient data to determine if CLNE has enough cash runway if its free cash flow continues to grow or shrink based on historical rates.


Next Steps

Dividend

What is Clean Energy Fuels's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

companyn/amarketbottom25%1.4%markettop25%3.7%industryaverage4.2%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: Unable to evaluate CLNE's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate CLNE's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if CLNE's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if CLNE's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of CLNE's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

What is the CEO of Clean Energy Fuels's salary, the management and board of directors tenure and is there insider trading?

9.1yrs

Average management tenure


CEO

Andrew Littlefair (58yo)

18.6yrs

Tenure

US$1,961,382

Compensation

Mr. Andrew J. Littlefair is a Co-Founder of Clean Energy Fuels Corp. and has been its Chief Executive Officer and President since June 2001. Mr. Littlefair served as Vice President of Public Affairs at Mes ...


CEO Compensation Analysis

Compensation vs Market: Andrew's total compensation ($USD1.96M) is about average for companies of similar size in the US market ($USD1.70M).

Compensation vs Earnings: Andrew's compensation has been consistent with company performance over the past year.


Management Age and Tenure

9.1yrs

Average Tenure

58yo

Average Age

Experienced Management: CLNE's management team is seasoned and experienced (9.1 years average tenure).


Board Age and Tenure

12.7yrs

Average Tenure

66.5yo

Average Age

Experienced Board: CLNE's board of directors are seasoned and experienced ( 12.7 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 22%.


Management Team

  • Clay Corbus (52yo)

    Senior Vice President of Strategic Development

    • Tenure: 12.3yrs
    • Compensation: US$977.31k
  • Andrew Littlefair (58yo)

    Co-Founder

    • Tenure: 18.6yrs
    • Compensation: US$1.96m
  • Mitchell Pratt (60yo)

    COO & Corporate Secretary

    • Tenure: 9.1yrs
    • Compensation: US$1.04m
  • Jim Harger (60yo)

    Senior Advisor to Chief Executive Officer

    • Tenure: 5yrs
    • Compensation: US$2.70m
  • Raymond Burke

    Vice President of Business Development - Solid Waste

    • Gary Foster

      Senior Vice President of Corporate Communications

      • Nate Jensen

        Senor VP of Corporate Transactions & Chief Legal Officer

        • Bob Vreeland (57yo)

          Chief Financial Officer

          • Tenure: 5.2yrs
          • Compensation: US$871.28k
        • Harrison Clay

          Vice President of Renewable Fuels

          • Barbara Johnson

            Vice President of Administration


            Board Members

            • Warren Mitchell (81yo)

              Director

              • Tenure: 14.7yrs
              • Compensation: US$136.30k
            • Jim O'Connor (70yo)

              Independent Director

              • Tenure: 8.3yrs
              • Compensation: US$136.30k
            • Kenneth Socha (72yo)

              Independent Director

              • Tenure: 17yrs
              • Compensation: US$136.30k
            • James Miller (76yo)

              Independent Director

              • Tenure: 13.7yrs
              • Compensation: US$146.30k
            • Andrew Littlefair (58yo)

              Co-Founder

              • Tenure: 18.6yrs
              • Compensation: US$1.96m
            • John Herrington (79yo)

              Independent Director

              • Tenure: 14.2yrs
              • Compensation: US$138.80k
            • Momar Nguer (63yo)

              Director

              • Tenure: 1.3yrs
            • Steve Scully (59yo)

              Independent Chairman

              • Tenure: 2yrs
              • Compensation: US$198.80k
            • Vincent Taormina (63yo)

              Independent Director

              • Tenure: 11.8yrs
              • Compensation: US$138.80k
            • Philippe Montantême (58yo)

              Director

              • Tenure: 1.3yrs

            Company Information

            Clean Energy Fuels Corp.'s company bio, employee growth, exchange listings and data sources


            Key Information

            • Name: Clean Energy Fuels Corp.
            • Ticker: CLNE
            • Exchange: NasdaqGS
            • Founded: 2001
            • Industry: Oil and Gas Refining and Marketing
            • Sector: Energy
            • Market Cap: US$499.524m
            • Shares outstanding: 204.72m
            • Website: https://www.cleanenergyfuels.com

            Number of Employees


            Location

            • Clean Energy Fuels Corp.
            • 4675 MacArthur Court
            • Suite 800
            • Newport Beach
            • California
            • 92660
            • United States

            Listings

            TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
            CLNENasdaqGS (Nasdaq Global Select)YesCommon StockUSUSDMay 2007
            WIQDB (Deutsche Boerse AG)YesCommon StockDEEURMay 2007
            0I04LSE (London Stock Exchange)YesCommon StockGBUSDMay 2007

            Biography

            Clean Energy Fuels Corp. provides natural gas as an alternative fuel for vehicle fleets in the United States and Canada. The company supplies renewable natural gas (RNG), compressed natural gas (CNG), and liquefied natural gas (LNG) for light, medium, and heavy-duty vehicles; and offers operation and maintenance services for public and private vehicle fleet customer stations. It also designs, builds, operates, and maintains fueling stations; sells and services natural gas fueling compressors and other equipment used in CNG stations and LNG stations; and provides assessment, design, and modification solutions to offer operators with code-compliant service and maintenance facilities for natural gas vehicle fleets. In addition, the company transports and sells CNG and LNG through virtual natural gas pipelines and interconnects; procures and sells RNG; sells tradable credits, such as RNG and conventional natural gas as a vehicle fuel comprising Renewable Identification Numbers and Low Carbon Fuel Standards credits; enables its customers acquire and finance natural gas vehicles; and obtains federal, state and local credits, grants, and incentives. It serves heavy-duty trucking, refuse, public transit, industrial, and institutional energy users, as well as government fleets and airports. As of December 31, 2018, the company served approximately 1,000 fleet customers operating approximately 47,000 natural gas vehicles; and owned, operated, or supplied approximately 530 natural gas fueling stations in 41 states in the United States and 4 provinces in Canada. Clean Energy Fuels Corp. was incorporated in 2001 and is headquartered in Newport Beach, California. 


            Company Analysis and Financial Data Status

            All financial data provided by Standard & Poor's Capital IQ.
            DataLast Updated (UTC time)
            Company Analysis2020/01/24 00:29
            End of Day Share Price2020/01/23 00:00
            Earnings2019/09/30
            Annual Earnings2018/12/31


            Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.