One-glance verdict
Not enough data
Fair value unavailable
Not enough cash-flow history to value this one with our method.
Fundamentals snapshot
ClearSign Technologies Corporation
CLIR · NCM · Industrials · Pollution & Treatment Controls
Current price
$2.61
52-week range
$2.12 - $9.80
Market cap
$17.77M
Balance sheet
Healthy
-13.52x Concerning
Net cash $9.77M. Interest coverage shows how many times profit covers the interest bill.
What stands out
0 Rewards
2 Risks
0 rewards · 2 risks
- Risk Return on equity was -51.7% last year — the company lost money on shareholders' equity.
- Risk Insider ownership is only 4.7% (peer median: 23.3%).
What this company does
ClearSign Technologies Corporation
ClearSign Technologies Corporation makes special burners and sensors that help reduce pollution from burning fuels in big industrial places like refineries and power plants. Their main money comes from selling these pollution-reducing products to companies in the energy and chemical industries. This matters because they are helping these industries burn cleaner, which is important for the environment.
How the company got here
ClearSign Technologies Corporation was founded in 2008, originally as ClearSign Combustion Corporation, with headquarters in Seattle, Washington. The company's journey began with a focus on developing advanced combustion technologies aimed at improving the efficiency and reducing the emissions of industrial and commercial systems. A significant turning point was its name change to ClearSign Technologies Corporation in November 2019, reflecting the broader potential of its sensing technologies for future business ventures. The company later relocated its headquarters to Tulsa, Oklahoma, in January 2022. ClearSign has strategically focused on developing patented technologies that can be integrated into existing equipment, aiming to offer solutions for decarbonization and enhanced performance in various industrial sectors.
What it actually does
ClearSign Technologies Corporation designs and develops innovative products and technologies focused on decarbonization and improving the performance of industrial and commercial systems. Their core offerings revolve around advanced burner technologies and flame sensors that aim to make combustion processes more efficient, safer, and significantly cleaner. These technologies are designed to reduce harmful emissions, such as nitrogen oxides (NOx), and improve energy efficiency, which can lead to cost savings for businesses. The company serves a range of industries, including energy, chemical, petrochemical, and boiler manufacturers.
ClearSign Core™ Burner Technology
This is the company's primary offering, focusing on advanced burner designs for industrial applications. These burners are engineered to achieve very low emissions, particularly nitrogen oxides (NOx), without the need for additional complex equipment like selective catalytic reduction (SCR) systems. The technology works by stabilizing the flame and controlling combustion in a way that minimizes pollutant formation. ClearSign's process burners are designed as direct replacements for traditional burners in refinery process heaters, and their boiler burners are intended for industrial and commercial boilers. The company also offers flaring burners designed for extremely low NOx emissions. These burners are sold through partnerships with original equipment manufacturers (OEMs), meaning ClearSign provides the core technology, and its partners integrate it into their equipment.
ClearSign Eye™ Flame Sensor
The ClearSign Eye is an electrical flame sensor designed for industrial applications. Its purpose is to monitor and ensure the safety and stability of flames in combustion systems. By accurately detecting the presence and characteristics of a flame, the sensor helps to optimize the combustion process and prevent potential issues. This technology is also integrated into OEM products, working alongside the burner technologies to provide a comprehensive solution for industrial combustion control and safety.
What management is betting on now
ClearSign's management is focused on commercializing its ClearSign Core™ and ClearSign Eye™ technologies through strategic partnerships with original equipment manufacturers (OEMs). This approach allows them to leverage the manufacturing, distribution, and service capabilities of established companies to bring their innovations to market. The company is emphasizing the development of its 'M' Series process burners, which are gaining traction in the midstream oil and gas market for their ability to reduce emissions and increase efficiency. Management is also prioritizing growth opportunities in sectors like refining, petrochemical, and power generation, aiming to position ClearSign as a key provider of decarbonization solutions for industrial combustion.
Price history
How the share price has moved
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Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2024 Q3
$-1.43M
FY2024 Q4
$-436.00K
FY2025 Q1
$-1.11M
FY2025 Q2
$-511.00K
FY2025 Q3
$-1.83M
FY2025 Q4
$-1.28M
Revenue
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Net income
$-1.31M
Diluted EPS
-0.22
Operating cash flow
$-1.24M
Free cash flow
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Sources
Revenue
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Net income
$-2.19M
Diluted EPS
-0.39
Operating cash flow
$-1.35M
Free cash flow
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Sources
Revenue
—
Net income
$-311.00K
Diluted EPS
-0.06
Operating cash flow
$-1.28M
Free cash flow
$-1.28M
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Sources
Revenue
—
Net income
$-1.43M
Diluted EPS
-0.26
Operating cash flow
$-1.83M
Free cash flow
$-1.83M
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Sources
Revenue
—
Net income
$-1.68M
Diluted EPS
-0.03
Operating cash flow
$-511.00K
Free cash flow
$-511.00K
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Sources
Revenue
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Net income
$-2.08M
Diluted EPS
-0.04
Operating cash flow
$-1.11M
Free cash flow
$-1.11M
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Sources
Revenue
—
Net income
$-1.16M
Diluted EPS
-0.02
Operating cash flow
$-415.00K
Free cash flow
$-436.00K
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Sources
Revenue
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Net income
$-1.16M
Diluted EPS
-0.02
Operating cash flow
$-1.43M
Free cash flow
$-1.43M
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Sources
Is it cheap or expensive?
Fair value — vs current price $2.61
We couldn't calculate a fair value right now.
Is it drowning in debt?
Healthy
Net cash $9.8M - more cash than debt. Interest coverage -13.5x.
Net debt
$-9.77M
Interest coverage
-13.52x
ClearSign Technologies Corporation's profit covers its interest bill about 0.0 times over. which is weaker than most peers shown here and 3 peers sit below 1x, which is the danger zone where profit does not fully cover the interest bill.
Healthy
Worse cushion
Baseline
Better cushion
CLIR
BASELINE
ClearSign Technologies Corporation
Total debt $117.00K Interest coverage -13.52x This is the baseline the peer rows are being compared against.
Total debt $38.06M Interest coverage -3.31x Neither company has much profit cushion over interest right now.
Total debt $0.00 Interest coverage -134.38x Neither company has much profit cushion over interest right now.
Total debt $3.39M Interest coverage -7.47x Neither company has much profit cushion over interest right now.
What you should know
The case for and against CLIR
0 Rewards
2 Risks
Rewards
Risks
-
Return on equity was -51.7% last year — the company lost money on shareholders' equity.
-
Insider ownership is only 4.7% (peer median: 23.3%).
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
—
Forward P/E
-4.97x
P/B
1.67x
P/S
3.26x
EV/EBITDA
-1.16x
PEG ratio
—
Profitability
How much profit each dollar creates
Gross margin
18.5%
Operating margin
-267.5%
Net margin
-96.1%
ROE
-51.7%
ROA
-30.1%
Health
Liquidity and balance-sheet strength
Debt / equity
0.01x
Current ratio
4.78x
Quick ratio
4.33x
Total debt
$117.00K
Total cash
$9.89M
Growth
How the business has been compounding
Revenue TTM
$0.00
Revenue 5Y CAGR
105.6%
EPS TTM
-1.00
EPS 5Y CAGR
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Cash flow
How much cash the business throws off
Operating CF TTM
$-5.70M
Free CF TTM
$-4.74M
FCF margin
-88.7%
Dividend
Shareholder payout
Yield
0.0%
Payout ratio
—
Last ex-div date
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