VGAS
Verde Clean Fuels, Inc.
Next earnings ≈ Aug 12, 2026 · est. from filing cadence
Last earnings -0.6% on 2026-05-12
$1.00
▼ -9.09%$1.00▼ -72.22%
over 1Y
L $0.95H $3.64
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today-9.1%
1W-33.3%
1M-35.1%
3M-34.2%
YTD-49.7%
1Y-72.2%
Avoid
Conviction
Horizon
Medium (3–12mo)
Pre-revenue gas-to-liquids story with a fortress balance sheet but no commercial path — main project suspended, now hunting strategic alternatives.
Net income -$6.96M · FY2025
Verde is a pre-revenue technology holdco, not an operating business: management states plainly that 'as of December 31, 2025, we are still in the process of deploying our STG+ technology and have not derived revenue from our principal business activities.' The demonstration plant is 'maintained in an idle state,' and five straight fiscal years show no product revenue while losses widen — net loss deepened to -$6.96M in FY2025 (from -$3.33M) and operating loss ran -$16.5M. Operating cash burn was -$8.89M plus $7.68M of capex. This is a concept, not a going concern in the commercial sense.
The balance sheet is genuinely strong and is the only thing holding the story up: $57.2M cash, $58.1M equity, and just $2.11M of total liabilities (0.04x liabilities/equity). But that cash is largely the January 2025 PIPE — Cottonmouth (a Diamondback subsidiary) bought 12.5M Class A shares at $4.00 for $50M. The stock is now $1.02, roughly 75% below that strategic partner's entry price, which tells you how the market has repriced the commercialization odds. Retained deficit is -$34.2M and ROE is -12%.
Is VGAS a buy? The one-page verdict, explained →
The options angle
model · matches our verdictBear put spread (caution)~60d expiry
- Long put 1 @ ~0.13 est
- Short put 1 @ ~0.13 est
debit $0max +$0max $0
AVOID means we wouldn't engage at all — if expressing the short side anyway, only with capped risk.
Educational template, not a trade recommendation. Strikes and premiums are Black-Scholes model estimates from the last close and 30-day realized volatility — real chains, spreads and IV will differ. Options involve substantial risk.
Financials · annual, by fiscal year
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | — | — | — | — | — |
| Gross profit | — | — | — | — | — |
| Operating income | -$457K | $2.72M | -$10.5M | -$11.7M | -$16.5M |
| Net income | -$475K | $2.72M | -$2.74M | -$3.33M | -$6.96M |
| Diluted EPS | -$0.05 | — | -$0.45 | -$0.53 | — |
| Net margin | — | — | — | — | — |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value-$12.7M
EV / EBITDA—
EV / Sales—
EV / FCF—
P / FCF—
PEG (trailing)—
Earnings yield-15.6%
FCF yield-37.2%
Quality & risk
ROIC (est.)-22.4%
Free cash flow-$16.6M
Total debt—
Net cash$57.2M
Piotroski F-Score2/6
Capital returns
Buyback yield—
Dividend yield (est.)—
Shareholder yield—
Shares Δ YoY+2.4%
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Disclosure timeline
SEC · 8-Ks + reportsRecent disclosure tone has skewed negative — read the flagged items.
- 8-K Shareholder vote2026-06-15
Annual meeting: shareholders elected slimmed board slate, ratified proposals
- 8-K Officer / director change2026-06-09
Officer/director change filed amid ongoing board streamlining
- 8-K Earnings results2026-05-12
Q1 pre-revenue; capital-lite pivot underway, ~$57M cash cushions burn
- 10-Q Quarterly report2026-05-12
Q1 pre-revenue; capital-lite pivot underway, ~$57M cash cushions burn
- DEF 14A Proxy statement2026-04-28
Proxy: board streamlined, two directors not standing for re-election
- 8-K Earnings results2026-03-27
FY2025: Permian halted, capital-lite pivot, 50% cost cut, loss widened
- 10-K Annual report2026-03-27
FY2025: Permian halted, capital-lite pivot, 50% cost cut, loss widened
- 8-K Officer / director change2026-03-23
Named Burdette CEO (Miller out), hired Roth to weigh strategic alternatives
- 8-K Reg FD disclosure2026-02-06
Suspended flagship Permian Basin project on weak gas-to-fuels economics
Recent filings
all on EDGAR ↗8-KPeriod ending 2026-06-122026-06-15open ↗DEFA14AFiling2026-06-09open ↗8-KPeriod ending 2026-06-032026-06-09open ↗10-QPeriod ending 2026-03-312026-05-12open ↗8-KPeriod ending 2026-05-112026-05-12open ↗DEFA14AFiling2026-04-28open ↗DEF 14APeriod ending 2026-04-282026-04-28open ↗10-KPeriod ending 2025-12-312026-03-27open ↗8-KPeriod ending 2026-03-272026-03-27open ↗8-KPeriod ending 2026-03-202026-03-23open ↗SCHEDULE 13G/AFiling2026-02-17open ↗SCHEDULE 13G/AFiling2026-02-09open ↗
Frequently asked
- Is Verde Clean Fuels, Inc. (VGAS) a buy?
- VGAS currently carries a Avoid rating with 4/5 conviction, derived from its latest SEC filings. Pre-revenue gas-to-liquids story with a fortress balance sheet but no commercial path — main project suspended, now hunting strategic alternatives.
- What is Verde Clean Fuels, Inc.'s quality score?
- VGAS scores 31.68406817323861/100 (grade F) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0001841425, latest 10-Q filed 2026-05-12) · EODHD · Proprietary analysis · as of 7/4/2026, 3:45:02 AM.
About this recommendation — produced by TENK/calls (tenkcalls.com), Luxembourg · not investment advice
AI-generated analysis, produced by our proprietary engine from SEC filing data.
Investment recommendation produced by TENK/calls (tenkcalls.com), Luxembourg. Completed Jul 3, 2026, 11:45 PM ET. Ratings & methodology: definitions · All recommendations to date: track record · Conflicts: disclosures. Not investment advice.
Research and education only — not financial advice. TENKis not a registered investment adviser or broker-dealer and gives no personalized advice. Every call is impersonal — identical for all users, generated on a schedule from SEC filings plus a delayed/third-party price feed — may be wrong or out of date, and is not a recommendation to buy or sell any security. The operator and an affiliated trading operation may hold or trade the securities TENK rates; see Disclosures. Past performance does not guarantee future results. Do your own research.