What is Verde Clean Fuels Inc's earnings per share (EPS)?

Verde Clean Fuels Inc (VGAS) reported diluted earnings per share of $-0.39 for fiscal year 2025. This represents a 26.4% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Verde Clean Fuels Inc Financials

VGAS

Source SEC Filings (10-K/10-Q) Updated Mar 27, 2026 Currency USD FYE March

This page shows Verde Clean Fuels Inc (VGAS) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 5 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Piotroski F-Score Weak

2/9

Verde Clean Fuels Inc passes 2 of 9 financial strength tests. 1 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass.

Earnings Quality Low Quality

1.28x

For every $1 of reported earnings, Verde Clean Fuels Inc generates $1.28 in operating cash flow (-$8.9M OCF vs -$7.0M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Key Financial Metrics

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Earnings & Revenue

Revenue

N/A

EBITDA

-$16.4M

YoY-41.2%

Verde Clean Fuels Inc's EBITDA was -$16.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 41.2% from the prior year.

Net Income

-$7.0M

YoY-108.7%

Verde Clean Fuels Inc reported -$7.0M in net income in fiscal year 2025. This represents a decrease of 108.7% from the prior year.

EPS (Diluted)

$-0.39

YoY+26.4%

Verde Clean Fuels Inc earned $-0.39 per diluted share (EPS) in fiscal year 2025. This represents an increase of 26.4% from the prior year.

Cash & Balance Sheet

Free Cash Flow

-$16.6M

YoY-45.0%

Verde Clean Fuels Inc generated -$16.6M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 45.0% from the prior year.

Cash & Debt

$57.2M

YoY+200.4%

Verde Clean Fuels Inc held $57.2M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

22M

Verde Clean Fuels Inc had 22M shares outstanding in fiscal year 2025.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

-12.0%

YoY+4.2pp

Verde Clean Fuels Inc's ROE was -12.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 4.2 percentage points from the prior year.

Capital Allocation

R&D Spending

$591K

YoY+31.0%

Verde Clean Fuels Inc invested $591K in research and development in fiscal year 2025. This represents an increase of 31.0% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$7.7M

YoY+201.4%

Verde Clean Fuels Inc invested $7.7M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 201.4% from the prior year.

VGAS Income Statement

Metric	FY25	FY24	FY23	FY22	FY21
Revenue	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A
R&D Expenses	$591K+31.0%	$451K+37.0%	$329K+3.9%	$317K	N/A
SG&A Expenses	$11.9M+6.4%	$11.2M-2.7%	$11.5M+155.0%	$4.5M+888.5%	$457K
Operating Income	-$16.5M-41.2%	-$11.7M-10.5%	-$10.5M-487.8%	$2.7M+695.3%	-$457K
Interest Expense	N/A	$0-100.0%	$237K	N/A	N/A
Income Tax	$106K+106.0%	$51K-69.0%	$166K-61.5%	$432K	N/A
Net Income	-$7.0M-108.7%	-$3.3M-21.5%	-$2.7M-200.9%	$2.7M+673.0%	-$475K
EPS (Diluted)	$-0.39+26.4%	$-0.53-17.8%	$-0.45	N/A	$-0.05

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	$128K-11.9%	$145K-20.8%	$183K	N/A	$91K-47.4%	$173K+101.6%	$86K	N/A
SG&A Expenses	$2.8M-11.1%	$3.1M+3.2%	$3.0M	N/A	$2.7M-9.9%	$3.0M+7.1%	$2.8M	N/A
Operating Income	-$2.9M+11.1%	-$3.2M-1.8%	-$3.2M	N/A	-$2.8M+11.9%	-$3.2M-10.0%	-$2.9M	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$104K+468.8%	-$28K-153.2%	$53K	N/A	$0+100.0%	-$14K	$0	N/A
Net Income	-$1.2M+8.3%	-$1.3M-1.1%	-$1.2M	N/A	-$778K+13.9%	-$904K-17.0%	-$772K	N/A
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	$-0.13	N/A

VGAS Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21
Total Assets	$60.2M+155.6%	$23.6M-26.2%	$31.9M+402.3%	$6.4M-96.4%	$175.0M
Current Assets	$57.9M+187.1%	$20.2M-31.0%	$29.3M+661.3%	$3.8M+427.3%	$729K
Cash & Equivalents	$57.2M+200.4%	$19.0M-33.8%	$28.8M+6109.4%	$463K-8.3%	$506K
Inventory	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$2.1M-26.9%	$2.9M-6.8%	$3.1M-82.0%	$17.2M-90.5%	$180.5M
Current Liabilities	$2.1M-25.3%	$2.8M+14.3%	$2.5M-36.4%	$3.9M+1501.3%	$242K
Long-Term Debt	N/A	N/A	N/A	N/A	N/A
Total Equity	$58.1M+181.1%	$20.7M-28.2%	$28.8M+365.1%	-$10.9M-96.1%	-$5.5M
Retained Earnings	-$34.2M-25.5%	-$27.3M-13.9%	-$23.9M-104.9%	-$11.7M-110.5%	-$5.5M

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Total Assets	$67.2M-2.2%	$68.7M-3.6%	$71.3M+202.4%	$23.6M-9.0%	$25.9M-6.9%	$27.8M-7.4%	$30.1M-5.9%	$31.9M
Current Assets	$61.5M-3.9%	$64.0M-4.8%	$67.2M+233.0%	$20.2M-11.4%	$22.8M-8.8%	$25.0M-9.0%	$27.4M-6.2%	$29.3M
Cash & Equivalents	$59.4M-4.2%	$62.1M-4.9%	$65.3M+242.8%	$19.0M-12.1%	$21.7M-6.6%	$23.2M-10.5%	$25.9M-9.9%	$28.8M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$3.1M+5.3%	$3.0M-16.0%	$3.5M+22.8%	$2.9M-20.1%	$3.6M+4.8%	$3.5M+11.3%	$3.1M0.0%	$3.1M
Current Liabilities	$3.1M+5.9%	$2.9M-15.2%	$3.5M+23.0%	$2.8M-20.2%	$3.5M+5.4%	$3.3M+13.1%	$3.0M+20.1%	$2.5M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$64.0M-2.6%	$65.7M-2.9%	$67.7M+227.5%	$20.7M-7.2%	$22.3M-8.6%	$24.4M-9.5%	$27.0M-6.5%	$28.8M
Retained Earnings	-$30.9M-3.9%	-$29.8M-4.4%	-$28.5M-4.6%	-$27.3M-3.3%	-$26.4M-3.0%	-$25.6M-3.7%	-$24.7M-3.2%	-$23.9M

VGAS Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21
Operating Cash Flow	-$8.9M-0.1%	-$8.9M+2.6%	-$9.1M-177.9%	-$3.3M-520.7%	-$528K
Capital Expenditures	$7.7M+201.4%	$2.5M+4252.0%	$59K+1228.2%	$4K	N/A
Free Cash Flow	-$16.6M-45.0%	-$11.4M-24.6%	-$9.2M-179.3%	-$3.3M	N/A
Investing Cash Flow	-$2.4M-179.1%	-$855K-1359.2%	-$59K-1228.2%	-$4K+100.0%	-$174.2M
Financing Cash Flow	$49.4M	$0-100.0%	$37.5M+924.6%	$3.7M-97.9%	$175.2M
Dividends Paid	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Operating Cash Flow	-$1.7M+23.0%	-$2.2M+41.1%	-$3.7M-66.4%	-$2.2M-35.8%	-$1.6M+25.1%	-$2.2M+22.7%	-$2.8M-22.0%	-$2.3M
Capital Expenditures	$2.4M+57.7%	$1.5M+226.7%	$473K-57.1%	$1.1M+23.8%	$893K+64.1%	$544K+6435.8%	$8K-85.1%	$56K
Free Cash Flow	-$4.1M-10.4%	-$3.7M+10.7%	-$4.2M-25.4%	-$3.3M-31.6%	-$2.5M+7.4%	-$2.7M+3.7%	-$2.8M-19.5%	-$2.4M
Investing Cash Flow	-$935K-73.2%	-$540K-4420.2%	-$12K+97.0%	-$404K-498.7%	$101K+118.6%	-$544K-6435.8%	-$8K+85.1%	-$56K
Financing Cash Flow	-$108+100.0%	-$504K-101.0%	$50.0M	$0	$0	$0	$0	$0
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

VGAS Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21
Gross Margin	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A
Return on Equity	-12.0%+4.2pp	-16.1%-6.6pp	-9.5%	N/A	N/A
Return on Assets	-11.6%+2.6pp	-14.1%-5.6pp	-8.6%-51.4pp	42.8%+43.0pp	-0.3%
Current Ratio	27.58+20.4	7.18-4.7	11.90+10.9	0.99-2.0	3.02
Debt-to-Equity	0.04-0.1	0.14+0.0	0.11+1.7	-1.58+31.0	-32.55
FCF Margin	N/A	N/A	N/A	N/A	N/A

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	-1.8%+0.1pp	-1.9%-0.1pp	-1.8%	N/A	-3.5%+0.2pp	-3.7%-0.8pp	-2.9%	N/A
Return on Assets	-1.7%+0.1pp	-1.8%-0.1pp	-1.8%	N/A	-3.0%+0.3pp	-3.3%-0.7pp	-2.6%	N/A
Current Ratio	19.78-2.0	21.81+2.4	19.43+12.3	7.18+0.7	6.47-1.0	7.47-1.8	9.29-2.6	11.90
Debt-to-Equity	0.050.0	0.050.0	0.05-0.1	0.14-0.0	0.16+0.0	0.14+0.0	0.120.0	0.11
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

Is Verde Clean Fuels Inc profitable?

No, Verde Clean Fuels Inc (VGAS) reported a net income of -$7.0M in fiscal year 2025.

What is Verde Clean Fuels Inc's EBITDA?

Verde Clean Fuels Inc (VGAS) had EBITDA of -$16.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is Verde Clean Fuels Inc's return on equity (ROE)?

Verde Clean Fuels Inc (VGAS) has a return on equity of -12.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Verde Clean Fuels Inc's free cash flow?

Verde Clean Fuels Inc (VGAS) generated -$16.6M in free cash flow during fiscal year 2025. This represents a -45.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Verde Clean Fuels Inc's operating cash flow?

Verde Clean Fuels Inc (VGAS) generated -$8.9M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Verde Clean Fuels Inc's total assets?

Verde Clean Fuels Inc (VGAS) had $60.2M in total assets as of fiscal year 2025, including both current and long-term assets.

What are Verde Clean Fuels Inc's capital expenditures?

Verde Clean Fuels Inc (VGAS) invested $7.7M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Verde Clean Fuels Inc spend on research and development?

Verde Clean Fuels Inc (VGAS) invested $591K in research and development during fiscal year 2025.

How many shares does Verde Clean Fuels Inc have outstanding?

Verde Clean Fuels Inc (VGAS) had 22M shares outstanding as of fiscal year 2025.

What is Verde Clean Fuels Inc's current ratio?

Verde Clean Fuels Inc (VGAS) had a current ratio of 27.58 as of fiscal year 2025, which is generally considered healthy.

What is Verde Clean Fuels Inc's debt-to-equity ratio?

Verde Clean Fuels Inc (VGAS) had a debt-to-equity ratio of 0.04 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Verde Clean Fuels Inc's return on assets (ROA)?

Verde Clean Fuels Inc (VGAS) had a return on assets of -11.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Verde Clean Fuels Inc's cash runway?

Based on fiscal year 2025 data, Verde Clean Fuels Inc (VGAS) had $57.2M in cash against an annual operating cash burn of $8.9M. This gives an estimated cash runway of approximately 77 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

What is Verde Clean Fuels Inc's Piotroski F-Score?

Verde Clean Fuels Inc (VGAS) has a Piotroski F-Score of 2 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Verde Clean Fuels Inc's earnings high quality?

Verde Clean Fuels Inc (VGAS) has an earnings quality ratio of 1.28x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.