Verde Clean Fuels, Inc. (VGAS) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Sep 12, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 11, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the VGAS SEC filings page.
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).
External financing funds a capital-intensive build while operating losses persist and cash conversion remains negative.
In FY2025, free cash flow of-$16.6M was roughly twice operating cash flow of-$8.9M , indicating reinvestment—not just operations—drives the cash requirement. That gap widened from FY2024, when capital expenditures were$2.6M , to FY2025, when they reached$7.7M , revealing an increasingly capital-consuming build phase.
The FY2025 financing inflow of
The FY2025 net loss of
Financial Health Signals
Verde Clean Fuels, Inc. does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
Verde Clean Fuels, Inc. passes 2 of 5 computable financial strength tests (4 of the nine could not be computed from available data). 1 of 4 profitability signals pass, all 1 leverage/liquidity signals pass.
Verde Clean Fuels, Inc. reported a net loss of $7.0M while operations used $8.9M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
Verde Clean Fuels, Inc.'s EBITDA was -$2.5M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 22.1% from the same quarter a year earlier. Against the prior quarter it is up 11.6%.
Verde Clean Fuels, Inc. reported -$907K in net income in Q2 2026. This represents an increase of 28.0% from the same quarter a year earlier. Against the prior quarter it is up 24.9%.
Verde Clean Fuels, Inc. earned -$0.04 per diluted share (EPS) in Q2 2026. This represents an increase of 42.9% from the same quarter a year earlier. Against the prior quarter it is up 20.0%.
Not reported for Q2 2026.
Cash & Balance Sheet
Verde Clean Fuels, Inc. recorded an outflow of $827K in free cash flow in Q2 2026, representing a cash shortfall after capex. This represents an increase of 77.8% from the same quarter a year earlier. Against the prior quarter it is up 73.1%.
Verde Clean Fuels, Inc. held $53.5M in cash as of Q2 2026; long-term debt is not reported for that period.
Not reported for Q2 2026.
Margins & Returns
Verde Clean Fuels, Inc.'s ROE was -1.7% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 0.3 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.5 percentage points.
Not reported for Q2 2026.
Not reported for Q2 2026.
Not reported for Q2 2026.
Capital Allocation
Verde Clean Fuels, Inc. invested $165K in research and development in Q2 2026. This represents an increase of 13.8% from the same quarter a year earlier. Against the prior quarter it is down 8.8%.
Verde Clean Fuels, Inc. invested $1K in capex in Q2 2026, funding long-term assets and infrastructure. This represents a decrease of 99.9% from the same quarter a year earlier. Against the prior quarter it is down 99.8%.
Not reported for Q2 2026.
VGAS Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| R&D Expenses | $165K+13.8% | $181K-1.1% | N/A | $128K+40.7% | $145K-16.2% | $183K+113.2% | N/A | $91K+16.2% |
| SG&A Expenses | $2.4M-23.8% | $2.7M-10.8% | N/A | $2.8M+2.2% | $3.1M+3.5% | $3.0M+7.5% | N/A | $2.7M+7.3% |
| Operating Income | -$2.5M+22.1% | -$2.9M+10.3% | N/A | -$2.9M-3.4% | -$3.2M-2.4% | -$3.2M-10.6% | N/A | -$2.8M-7.6% |
| EBITDA | -$2.5M+22.1% | -$2.9M+10.3% | N/A | -$2.9M-3.4% | -$3.2M-2.4% | -$3.2M-10.6% | N/A | -$2.8M-9.0% |
| Income Tax | -$106K-278.6% | $46K-13.2% | N/A | $104K | -$28K-101.9% | $53K | N/A | $0-100.0% |
| Net Income | -$907K+28.0% | -$1.2M+3.2% | N/A | -$1.2M-48.5% | -$1.3M-39.4% | -$1.2M-61.5% | N/A | -$778K-0.6% |
| EPS (Basic) | -$0.04+42.9% | -$0.05+37.5% | N/A | N/A | -$0.07 | -$0.08+38.5% | N/A | N/A |
| EPS (Diluted) | -$0.04+42.9% | -$0.05 | N/A | N/A | -$0.07 | -$0.08 | N/A | N/A |
| Diluted Shares (Avg) | 22M+17.2% | 22M | N/A | N/A | 19M | 15M | N/A | N/A |
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, Interest Expense.
VGAS Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $56.8M-17.3% | $57.9M-18.8% | $60.2M+155.6% | $67.2M+159.3% | $68.7M+146.9% | $71.3M+137.2% | $23.6M-26.2% | $25.9M-25.1% |
| Current Assets | $54.3M-15.1% | $55.3M-17.6% | $57.9M+187.1% | $61.5M+169.8% | $64.0M+156.2% | $67.2M+144.7% | $20.2M-31.0% | $22.8M-29.0% |
| Cash & Equivalents | $53.5M-13.9% | $54.3M-16.8% | $57.2M+200.4% | $59.4M+174.3% | $62.1M+167.4% | $65.3M+151.6% | $19.0M-33.8% | $21.7M-30.4% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $2.1M-30.3% | $1.6M-55.7% | $2.1M-26.9% | $3.1M-13.3% | $3.0M-13.7% | $3.5M+14.4% | $2.9M-6.8% | $3.6M-5.4% |
| Current Liabilities | $2.1M-29.2% | $1.5M-55.5% | $2.1M-25.3% | $3.1M-11.8% | $2.9M-12.2% | $3.5M+17.1% | $2.8M+14.3% | $3.5M-7.9% |
| Non-Current Liabilities | $0-100.0% | $32K-64.2% | $12K-84.6% | $29K-69.1% | $46K-58.0% | $89K-39.4% | $78K-87.8% | $94K |
| Total Equity | $54.7M-16.7% | $56.3M-16.8% | $58.1M+181.1% | $64.0M+187.3% | $65.7M+169.6% | $67.7M+151.3% | $20.7M-28.2% | $22.3M-27.5% |
| Retained Earnings | -$36.3M-22.1% | -$35.4M-24.3% | -$34.2M-25.5% | -$30.9M-17.2% | -$29.8M-16.3% | -$28.5M-15.4% | -$27.3M-13.9% | -$26.4M-13.3% |
Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Goodwill, Long-Term Debt.
VGAS Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$826K+62.1% | -$2.6M+29.3% | -$1.3M+40.4% | -$1.7M-2.6% | -$2.2M+0.3% | -$3.7M-30.8% | -$2.2M+4.0% | -$1.6M+17.8% |
| Depreciation & Amortization | $4K0.0% | $4K0.0% | $4K+33.3% | $4K+5.4% | $4K+26.2% | $4K+31.7% | $3K+73.0% | $4K-89.8% |
| Stock-Based Compensation | $486K-1.8% | $597K+43.2% | N/A | $632K+57.6% | $495K+88.5% | $417K+67.7% | N/A | $401K |
| Capital Expenditures | $1K-99.9% | $458K-3.2% | $3.2M+192.0% | $2.4M+173.1% | $1.5M+184.4% | $473K+5583.0% | $1.1M+1878.0% | $893K |
| Free Cash Flow | -$827K+77.8% | -$3.1M+26.3% | -$4.6M-36.7% | -$4.1M-62.7% | -$3.7M-36.5% | -$4.2M-47.1% | -$3.3M-40.2% | -$2.5M |
| Investing Cash Flow | -$1K+99.8% | -$317K-2541.7% | -$899K-122.5% | -$935K-1023.0% | -$540K+0.7% | -$12K-44.2% | -$404K-623.2% | $101K |
| Financing Cash Flow | $0+100.0% | $0-100.0% | $0 | $0 | -$504K | $50.0M | $0 | $0+100.0% |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
VGAS Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Return on Equity | -1.7%+0.3pp | -2.1%-0.3pp | N/A | -1.8%+1.7pp | -1.9%+1.8pp | -1.8%+1.0pp | N/A | -3.5%-1.0pp |
| Return on Assets | -1.6%+0.2pp | -2.1%-0.3pp | N/A | -1.7%+1.3pp | -1.8%+1.4pp | -1.8%+0.8pp | N/A | -3.0%-0.8pp |
| Current Ratio | 26.16+4.4x | 35.93+16.5x | 27.58+20.4x | 19.78+13.3x | 21.81+14.3x | 19.43+10.1x | 7.18-4.7x | 6.47-1.9x |
| Debt-to-Equity | 0.040.0x | 0.030.0x | 0.04-0.1x | 0.05-0.1x | 0.05-0.1x | 0.05-0.1x | 0.140.0x | 0.160.0x |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Asset Turnover, FCF Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Verde Clean Fuels, Inc. VGAS | FY2025 | N/A | -$7.0M | N/A | $62.8M | — |
| NextNRG, Inc. NXXT | FY2025 | $81.8M | -$85.7M | N/A | $2.5M | 35/100 |
| Ellomay Capital LTD ELLO | FY2025 | $50.3M | -$7.5M | -14.9% | $287.9M | 31/100 |
| Eco Wave Power Global AB (publ) American WAVE | FY2025 | $38K | -$3.7M | N/A | $34.7M | — |
| Energy Vault Holdings, Inc. NRGV | FY2025 | $203.7M | -$103.6M | -50.9% | $783.7M | 25/100 |
Where Verde Clean Fuels, Inc. Ranks
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) recorded an outflow of $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) recorded an outflow of $8.9M in operating cash flow during fiscal year 2025, representing cash used by 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.
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 P/E ratio?
Verde Clean Fuels, Inc. (VGAS) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2025). The market capitalization is $62.8M as of Sep 12, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Verde Clean Fuels, Inc.'s price-to-sales ratio?
Verde Clean Fuels, Inc. (VGAS) has no price-to-sales ratio at the moment: no revenue reported. The market capitalization is $62.8M as of Sep 12, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
How does Verde Clean Fuels, Inc.'s liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Verde Clean Fuels, Inc. (VGAS) held $57.2M in cash, cash equivalents and investments, and reported an operating cash outflow of $8.9M over that year. Dividing the one by the other, the reported balance equals about 77 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
What is Verde Clean Fuels, Inc.'s Piotroski F-Score?
Verde Clean Fuels, Inc. (VGAS) has a Piotroski F-Score of 2 out of 5 computable signals; 4 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 to 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) reported a net loss of $7.0M while operations used $8.9M of cash. With neither figure positive, the ratio between the two carries no quality signal. 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.