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Richard Sloan from the University of Michigan was first to document what is referred to as the "accrual anomaly". His 1996 paper found that shares of companies with small or negative accruals vastly outperform (+10%) those of companies with large ones.
Clean Energy Fuels's Sloan Ratio for the quarter that ended in Jun. 2026 was -9.20%.
Warning Sign:
When sloan ratio (-35.08)% higher than 25% or lower than -25%, earnings are more likely to be made up of accruals.
As of Jun. 2026, Clean Energy Fuels has a Sloan Ratio of -9.20%, indicating the company is in the safe zone and there is no funny business with accruals.
Clean Energy Fuels (NAS:CLNE) Sloan Ratio % Explanation
A former University of Michigan researcher, Richard Sloan's 1996 paper found that shares of companies with small or negative accruals vastly outperform (+10%) those of companies with large ones. In fact, for the 40-year period between 1962 and 2001, buying the lowest accrual companies and shorting the highest accrual companies resulted in an average annual compounded return of 18%, more than double the S&P 500's 7.4% annual return over the same period.
If the Sloan Ratio is between -10% and 10%, the company is in the safe zone and there is no funny business with accruals.
If the Sloan Ratio is less than between -25% and -10% on the negative side, and between 10% and 25% on the positive side, this is a warning stage of accrual build up.
If the Sloan Ratio is less than -25% or greater than 25%, and this ratio is consistent over several quarters or even years, be careful. Earnings are highly likely to be made up of accruals.
As of Jun. 2026, Clean Energy Fuels has a Sloan Ratio of -9.20%, indicating the company is in the safe zone and there is no funny business with accruals.
Clean Energy Fuels Sloan Ratio % Related Terms
Clean Energy Fuels Sloan Ratio % Historical Data
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The historical data trend for Clean Energy Fuels's Sloan Ratio % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Oil & Gas Refining & Marketing subindustry, Clean Energy Fuels's Sloan Ratio %, along with its competitors' market caps and Sloan Ratio % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Clean Energy Fuels Sloan Ratio % vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Clean Energy Fuels's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Clean Energy Fuels's Sloan Ratio % falls into.
Earnings contain a lot of non cash earnings which is called accruals. The Sloan ratio is a way to identify firms with low non-cash or accrual-derived earnings relative to their cash flow.
Clean Energy Fuels's Sloan Ratio for the fiscal year that ended in Dec. 2025 is calculated as
Clean Energy Fuels's Net Income for the trailing twelve months (TTM) ended in Jun. 2026 was -23.819 (Sep. 2025 ) + -42.998 (Dec. 2025 ) + -12.412 (Mar. 2026 ) + -14.853 (Jun. 2026 ) = $-94.1 Mil.
Clean Energy Fuels's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jun. 2026 was 13.088 (Sep. 2025 ) + 13.112 (Dec. 2025 ) + -8.362 (Mar. 2026 ) + 28.786 (Jun. 2026 ) = $46.6 Mil.
Clean Energy Fuels's Cash Flow from Investing for the trailing twelve months (TTM) ended in Jun. 2026 was 36.678 (Sep. 2025 ) + 33.068 (Dec. 2025 ) + -89.61 (Mar. 2026 ) + -26.454 (Jun. 2026 ) = $-46.3 Mil.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Clean Energy Fuels (CLNE) has a Sloan Ratio % of -9.20% as of Jun. 2026. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on Clean Energy Fuels and its competitors.
Is Clean Energy Fuels' Sloan Ratio % too high?
Clean Energy Fuels' current Sloan Ratio % is -9.20%. Overall, Clean Energy Fuels has a GF Score™ of 61/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Clean Energy Fuels' Sloan Ratio % compare to SGU and FGPR?
Clean Energy Fuels' Sloan Ratio % of -9.20% can be compared against companies in the Oil & Gas industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Sloan Ratio % for an Oil & Gas company?
A good Sloan Ratio % depends on the Oil & Gas industry context. However, Sloan Ratio % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Sloan Ratio % mean?
A high Sloan Ratio % can signal that a stock is expensive relative to its fundamentals. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on Clean Energy Fuels and its competitors. Clean Energy Fuels's current Sloan Ratio % is -9.20%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Clean Energy Fuels stock overvalued right now?
Based on GuruFocus' analysis, Clean Energy Fuels (CLNE) is currently considered Possible Value Trap. The stock's GF Value™ is $2.81, compared to a current price of $1.61 — trading 42.9% below its estimated fair value. The current Sloan Ratio % is -9.20%. Clean Energy Fuels' overall GF Score™ is 61/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Sloan Ratio % calculated?
Sloan Ratio % is calculated from a company's financial statements. For Clean Energy Fuels (CLNE), the current Sloan Ratio % is -9.20% as of Jun. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Clean Energy Fuels (CLNE) Overvalued in 2026?
Based on GuruFocus' analysis, Clean Energy Fuels stock appears to be undervalued.
The current stock price of $1.61 is trading 42.9% below its estimated GF Value™ of $2.81.
GuruFocus considers Clean Energy Fuels to be Possible Value Trap.
Key valuation signals for CLNE:
Sloan Ratio %: -9.20%
GF Value™: $2.81 vs. price of $1.61 (42.9% below fair value)
No single metric tells the full story. See the CLNE stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Clean Energy Fuels Corp is a natural gas marketer and retailer operating in the United States and Canada. The company supplies compressed natural gas and liquefied natural gas for the United States (U.S.) and Canadian transportation markets. The majority of revenue is generated within the U.S. and mostly consists of compressed natural gas. The firm operates by purchasing natural gas from local utilities; compressing, cooling, or liquefying it at company-owned plants; and selling natural gas products through company-owned or customer-owned fueling stations. It also builds, operates, and maintains natural gas fueling stations for customers.
61GF Score
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