Investment Thesis
Alternus Clean Energy exhibits severe financial distress with collapsing revenues (-96.9% YoY), negative stockholders' equity of -$21.1M indicating technical insolvency, and critically low liquidity (0.04x current ratio). The company's reported profitability metrics are artifacts of minimal revenue rather than operational health, and negative free cash flow combined with $28.7M long-term debt and only $10K cash represents an unsustainable financial position.
ALCE Strengths
- Positive operating cash flow of $1.4M indicates some underlying business activity
- Clean energy sector alignment with long-term market trends
- Operating income remains positive at $10.2M despite revenue collapse
ALCE Risks
- Negative stockholders' equity of -$21.1M indicates technical insolvency and impaired balance sheet
- Revenue collapsed 96.9% year-over-year, indicating severe business deterioration
- Critical liquidity crisis with current ratio of 0.04x and only $10K cash against $25.9M liabilities
- Long-term debt of $28.7M with minimal cash generation capacity creates refinancing risk
- Negative free cash flow (-$62.3K) indicates company cannot fund operations from operations
- Interest coverage ratio of 1.2x shows minimal debt service cushion
Key Metrics to Watch
- Quarterly revenue trends and path to stabilization
- Stockholders' equity recovery and balance sheet restructuring
- Cash position and burn rate relative to operating expenses
- Debt refinancing ability and covenant compliance
ALCE Financial Metrics
ALCE Profitability Ratios
ALCE Balance Sheet & Liquidity
ALCE 5-Year Financial Trend
5-Year Trend Summary: Alternus Clean Energy, Inc.'s revenue has remained relatively flat over the 5-year period, with a 0% decline. The most recent EPS of $-24.02 indicates the company is currently unprofitable.
ALCE Growth Metrics (YoY)
ALCE Quarterly Performance
| Quarter | Revenue | Net Income | EPS |
|---|---|---|---|
| Q2 2025 | $94.0K | $5.1M | $7.12 |
| Q1 2025 | $93.0K | -$180.0K | $-0.02 |
| Q3 2024 | $93.0K | -$5.1M | $-0.82 |
| Q2 2024 | $3.8M | -$1.7M | $-0.05 |
| Q1 2024 | $2.2M | -$5.3M | $-0.06 |
Data sourced from SEC EDGAR 10-Q quarterly filings. Figures may represent quarterly or cumulative values.
ALCE Capital Allocation
ALCE SEC Filings
Access official SEC EDGAR filings for Alternus Clean Energy, Inc. (CIK: 0001883984)