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Clean Energy Fuels cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$28.4M in Q3 2026 · $44.8M over twelve months

Operating cash flow$36.2M
Capital spending−$7.8M
Free cash flow+$28.4M

Analysis

In Q3 2026, Clean Energy Fuels generated $36.2M of operating cash flow and spent $7.8M on capital projects, leaving free cash flow of $28.4M. That is $21.9M more than in Q3 2025 ($6.5M).

Over the twelve months to Sep 30, 2026, operating cash flow was $69.7M; the largest uses were other financing ($77.2M), capital spending ($24.9M), net borrowing (+) / repaid (−) ($16.4M); besides operations, cash came from asset & business sales ($5.0M), other investing ($4.5M); the cash balance fell by $41.1M.

Operating cash flow was $36.2M against net income of −$1.9M. The largest differences: receivables −$29.1M, accrued liabilities +$17.3M, prepaid and other assets +$11.1M.

Free cash flow

Clean Energy Fuels: free cash flow by quarterClean Energy Fuels: free cash flow by quarter$10.3MQ4 2024$15.9MQ1 2025$30.9MQ2 2025$6.5MQ3 2025$6.5MQ4 2025−$15.3MQ1 2026$25.1MQ2 2026$28.4MQ3 2026
Operating cash flow less capital spending.
Clean Energy Fuels: operating cash flow against capital spendingClean Energy Fuels: operating cash flow against capital spendingOperating cash flowCapital spending$21.9M$11.5MQ4 2024$23.4M$7.5MQ1 2025$35.9M$5.0MQ2 2025$13.1M$6.6MQ3 2025$13.1M$6.6MQ4 2025−$8.4M$6.9MQ1 2026$28.8M$3.6MQ2 2026$36.2M$7.8MQ3 2026
Latest (Q3 2026): Operating cash flow $36.2M, Capital spending $7.8M.

Capital allocation, year by year

Clean Energy Fuels: where the cash came from (up) and went (down), by fiscal yearClean Energy Fuels: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingBuybacksFY2021: Operating cash flow $41.3MFY2021: Net borrowing −$49.3MFY2021: Shares issued $204MFY2021: Asset sales $2.9MFY2021: Capital spending −$23.1MFY2021: Buybacks −$2.9M$249MFY2021FY2022: Operating cash flow $66.7MFY2022: Net borrowing $107MFY2022: Shares issued $1.4MFY2022: Asset sales $360KFY2022: Capital spending −$44.5MFY2022: Buybacks −$6.1M$176MFY2022FY2023: Operating cash flow $43.8MFY2023: Net borrowing $148MFY2023: Shares issued $242KFY2023: Asset sales $262KFY2023: Capital spending −$101M$192MFY2023FY2024: Operating cash flow $64.6MFY2024: Net borrowing −$2.2MFY2024: Shares issued $64KFY2024: Asset sales $576KFY2024: Capital spending −$65.0M$65.2MFY2024FY2025: Operating cash flow $85.5MFY2025: Net borrowing −$2.4MFY2025: Shares issued −$37KFY2025: Asset sales $5.1MFY2025: Capital spending −$25.7MFY2025: Buybacks −$7.9M$90.7MFY2025
Over these 5 years operating cash flow totalled $302M; the largest uses were capital spending ($259M) and net borrowing ($53.8M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$140M
Debt$216M
Net debt$76.3M
Due within a year$52K

Clean Energy Fuels funds itself: free cash flow was $44.8M over the last twelve months, and $140M of cash and investments stands against $216M of debt ($52K due within a year, 2695.3× covered by cash).

Clean Energy Fuels: debt maturities by year (FY2025)Clean Energy Fuels: debt maturities by year (FY2025)$52KYear 1$60KYear 2$46KYear 3$250MYear 4
Principal due in each year as disclosed in the annual report, against $140M of cash and investments now.

Where the cash came from and went

Clean Energy Fuels: sources (+) and uses (−) of cash, Q3 2026Clean Energy Fuels: sources (+) and uses (−) of cash, Q3 2026Cash drawn (+) / kept (−)−$82.7MOther investing$70.4MOperating cash flow$36.2MNet borrowing (+) / repaid (−)−$15.3MCapital spending−$7.8MOther financing−$5.7MAsset & business sales$4.9MExchange rates−$38KTaxes on employees’ shares$6K
Clean Energy Fuels: sources (+) and uses (−) of cash, TTM to Q3 2026Clean Energy Fuels: sources (+) and uses (−) of cash, TTM to Q3 2026Other financing−$77.2MOperating cash flow$69.7MCash drawn (+) / kept (−)$41.1MCapital spending−$24.9MNet borrowing (+) / repaid (−)−$16.4MAsset & business sales$5.0MOther investing$4.5MTaxes on employees’ shares−$1.2MExchange rates−$575KShares issued−$93K

From profit to cash

Clean Energy Fuels: net income to operating cash flow, Q3 2026Clean Energy Fuels: net income to operating cash flow, Q3 2026Net income−$1.9MDepreciation & amortization$10.6MStock-based pay$2.4MDeferred taxes$58KGains on disposals$101KReceivables−$29.1MInventory$2.0MPayables$7.5MAccrued liabilities$17.3MDeferred revenue$4.4MPrepaid and other assets$11.1MOperating cash flow$36.2M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingBuybacksNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$36.2M−$7.8M—−$15.3M—−$82.7M$28.4M
Q2 2026$28.8M−$3.6M—−$330K—−$1.5M$25.1M
Q1 2026−$8.4M−$6.9M—−$336K—$100M−$15.3M
Q4 2025$13.1M−$6.6M—−$346K−$93K$25.2M$6.5M
Q3 2025$13.1M−$6.6M—−$297K$4K−$48.8M$6.5M
Q2 2025$35.9M−$5.0M−$7.5M−$318K—−$13.5M$30.9M
Q1 2025$23.4M−$7.5M−$391K−$256K$52K−$29.1M$15.9M
Q4 2024$21.9M−$11.5M—−$1.3M$21K$27.4M$10.3M

Clean Energy Fuels: income statement and cash flow

Clean Energy Fuels, Q3 2026: revenue $112M (+6% year over year), operating margin 0.9%. The chart follows the revenue to costs, profit and cash.

Clean Energy Fuels: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.