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ClearSign Combustion Corporation (CLIR) fair value: what the stock is really worth

As of Sep 24, 2026: fair value of ClearSign Combustion Corporation $1.18, price $3.46, upside -65.8%, quality 36 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

Fair value above price? No
Good quality? No
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Industrials · US · ISIN US1850641028

Thin data Sep 23, 2026

ClearSign Combustion Corporation

CLIR · US

Weakest SetupStrongly overvalued and low quality.

!Fair value $1.18 · Strongly overvalued (−66%)

!Quality 36/100

!Mixed Growth (revenue 5y +160.1 %/yr)

!Loss-making · -111.7% net margin (TTM)

!Low debt · negative free cash flow

!Trails peers (1/9)

!Narrow moat 5/100

!Evidence only low, so the estimate is less certain

26 models, one by oneBear $0.7735 to bull $1.47 Growth analysisrevenue history, year by year Quality 36/100 in detail37 factors, each one shown Compared with its peersrank on every measure, side by side

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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 23, 2026.

How to read this chart

60‑month range $3.25 – $49.50 · fair‑value band $0.7735 – $1.47 · the $3.46 price screens above the $1.18 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 23, 2026.

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Company profile

ClearSign Technologies Corporation designs and develops products and technologies for the purpose of decarbonization and improving key performance characteristics of industrial and commercial systems in the United States and the People's Republic of China. The company's technologies include ClearSign core burner technology consists of an industrial burner body and a downstream porous ceramic or metal flame stabilizing structure; ClearSign core process burner technology that provides a direct burner replacement for traditional refinery process heaters; ClearSign core boiler burner technology; ClearSign core flaring burners that can be used to provide a flare product with extremely low nitrogen oxide emissions; and ClearSign eye flame sensor, an electrical flame sensor for industrial applications. It serves energy, institutional, commercial and industrial boiler, chemical, and petrochemical industries. ClearSign Technologies Corporation was formerly known as ClearSign Combustion Corporation and changed its name to ClearSign Technologies Corporation in November 2019. The company was incorporated in 2008 and is headquartered in Tulsa, Oklahoma.

Stock analysis

ClearSign Combustion Corporation (CLIR) currently trades at $3.46, while our model-based Fair Value estimate is $1.18, implying the stock looks roughly 192.7% overvalued today.

Valuation

How firm this estimate is: it rests on 1 models at a data quality of 95/100, which puts the evidence level at low.

Scenario range: $0.7735 (bear) to $1.47 (bull), the price of $3.46 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 36/100 (below-average quality), in the Industrials sector.

Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.

ClearSign Combustion Corporation reported revenue of $5.2M in FY2025 versus $607K in FY2021, a compound +71.4%/yr. Reported net income was −$5.5M in FY2025.

Key figures

Market cap $23.5M · P/S ratio 4.67 · EPS (TTM) $−0.1100 · Net margin −105% · Return on equity −57.1% · Return on assets (EBIT) −61.8% · Operating margin −1,193% · Revenue (TTM) $5.0M.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 22 out of 100 (medium confidence).

What moves the price

The share trades about 67% below its 52-week high and 6% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Industrials peers we cover trades at −28% fair-value upside, at −66%, CLIR screens richer than that median.

Fair Value models

Bear $0.7735 Fair Value $1.18 Bull $1.47

Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.

Highest evidence

NCAV (Graham) $0.7700 $1.03 $1.54 54

All 1 models by family

Asset-Based

NCAV (Graham) $0.7700 $1.03 $1.54 54

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Quality Score breakdown

Overall quality 36/100

Of which business quality 38 · Market factors (momentum, volatility) 19

Profitability 9

Margins and returns on capital today

Quality Growth 62

Are margins and returns improving?

Cashflow 8

Earnings quality: real cash, not paper profit

Fin. Strength 74

Balance sheet, leverage, solvency risk

Investment 94

Disciplined investing over empire-building

Low Volatility 18

Calm price path (market factor)

Momentum 31

Price trend over the last 3–12 months (market factor)

52W Momentum 2

Distance to the 52-week high (market factor)

Net Issuance 0

Share count: buybacks or dilution?

Open the full quality analysis →

Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 33/100

Revenue is growing, but margins or cash flow do not fully confirm the trend.

Revenue growth 1 year

+45.6%

Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.

+141.0%

Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.

+160.1%

Start year 2020 (pandemic). Over 10 years: +56.1% a year

Revenue growth 12 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.

+39.9%

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Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.

−15,754.5% (2020) → −113.4% (2025)

What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss

not computed

CLIR screens 193% overvalued. Compare with Veralto Corporation →

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Pollution & Treatment Controls · 94 stocks

Beats the industry median on 1/8 measures

Overall it trails its industry peers.

Valuation

Quality Score 38 · Bottom 25%

Fair Value upside −67% · Bottom 25%

Profitability

Return on assets −34% · Bottom 25%

Net margin (TTM) −112% · Bottom 25%

Growth and dividend

Revenue growth −52% · Bottom 25%

Balance sheet

Debt / equity 0.03× · Lowest 25%

Valuation Multiplesvs Pollution & Treatment Controls median · lower = cheaper

P/B 2.46× · Pricier than median

P/S (TTM) 4.67× · Priciest 25%

Strength profile in five axes (Snowflake)

This stock

Sector peers

VALUE (fair-value potential)0 · sector 3

FUTURE (revenue growth)0 · sector 11

PAST (return on equity)0 · sector 18

HEALTH (low debt)99 · sector 94

DIVIDEND (yield)0 · sector 37

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

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ClearSign Combustion Corporation · Fair Value
$1.18 −193%Fair Value
Calculator →

<a href="https://www.fairvalue-calculator.com/stock/CLIR" target="_blank" rel="nofollow noopener" style="display:inline-flex;align-items:center;gap:12px;box-sizing:border-box;font-family:system-ui,-apple-system,Segoe UI,Roboto,sans-serif;text-decoration:none;background:#0f1814;color:#eaf2ed;border:1px solid #2a3a30;border-radius:12px;padding:12px 16px;max-width:360px"><span style="line-height:1.35"><span style="font-size:12px;color:#9fb0a8">ClearSign Combustion Corporation · Fair Value</span><br><b style="font-size:20px">$1.18</b> <span style="color:#e0816f;font-weight:700;font-size:14px">−193%</span></span><span style="font-size:11px;color:var(--fvc-g-mitte);font-weight:700;margin-left:auto;text-align:right;line-height:1.3">Fair&nbsp;Value<br>Calculator&nbsp;→</span></a>

Cite: Fair Value Calculator (2026). "ClearSign Combustion Corporation Fair Value". https://www.fairvalue-calculator.com/stock/CLIR

Frequently asked questions

Is ClearSign Combustion Corporation (CLIR) overvalued or undervalued?

As of Sep 23, 2026, our model estimates a fair value of $1.18 versus a price of $3.46, about −66% upside (overvalued).

What is the fair value of CLIR?

Our model-based fair value for ClearSign Combustion Corporation is $1.18 (as of Sep 23, 2026), built from audited fundamentals. The current price: $3.46.

What is the quality score of CLIR?

ClearSign Combustion Corporation has a Quality Score of 36/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.

What is the price target for ClearSign Combustion Corporation (CLIR)?

Our model-based price target is the fair value of $1.18 (as of Sep 23, 2026) from 1 valuation models. Cautious scenario $0.7735, optimistic scenario $1.47. It is a calculation from audited fundamentals, not an analyst target.

What is the ClearSign Combustion Corporation stock forecast for 2026?

Our models put fair value at $1.18, about −66% upside versus a price of $3.46 (overvalued). Cautious scenario $0.7735, optimistic scenario $1.47. The calculation is refreshed regularly with new filings.

What is the revenue of ClearSign Combustion Corporation (CLIR)?

ClearSign Combustion Corporation reported trailing-twelve-month revenue of about $5.0M (latest available figure, as of Sep 23, 2026).

What is the intrinsic value of ClearSign Combustion Corporation (CLIR)?

Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For ClearSign Combustion Corporation it is $1.18 per share (as of Sep 23, 2026), against a price of $3.46. It is the blended result of 1 valuation models (cash flow, earnings, asset, dividend).

Is ClearSign Combustion Corporation stock overvalued or undervalued in 2026?

As of Sep 23, 2026, CLIR trades above its calculated fair value: price $3.46, fair value $1.18, a gap of about −66% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.

Is fair value the same as the market price of CLIR?

No. The price is what the market pays today ($3.46); the fair value is what the company's own numbers justify ($1.18). For ClearSign Combustion Corporation the two are $2.28 per share apart. That gap is exactly why we show both numbers side by side.

How much is ClearSign Combustion Corporation worth?

The market values ClearSign Combustion Corporation at about $23.5M (market capitalisation, as of Sep 23, 2026). Per share that is $3.46; our models calculate a fair value of $1.18 per share.

What do the bullish and bearish scenarios say about CLIR?

Our models span a range for ClearSign Combustion Corporation: cautious scenario $0.7735, base $1.18, optimistic $1.47 per share (as of Sep 23, 2026, price $3.46). The range comes from different growth and margin assumptions, not from analyst opinions.

How solid is the balance sheet of ClearSign Combustion Corporation (CLIR)?

Balance-sheet figures for ClearSign Combustion Corporation (as of Sep 23, 2026): return on equity −57.1%, debt of 0.03 per unit of equity. They feed the Quality Score of 36/100, which measures business quality independently of the share price.

How far is CLIR from its 52-week high?

ClearSign Combustion Corporation trades at $3.46, about 67% below its 52-week high of $10.60 and 6% above the low of $3.25 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of $1.18 is for.

Which stocks are comparable to ClearSign Combustion Corporation?

From the same area (Industrials) we also value Veralto Corporation, Zurn Elkay Water Solutions Corporation, Canmax Technologies Co, CECO Environmental Corp, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.

Is ClearSign Combustion Corporation stock attractive at the current price?

The data as of Sep 23, 2026: price $3.46, calculated fair value $1.18 (−66%), Quality Score 36/100, from 1 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.

How is the fair value of CLIR calculated?

We run ClearSign Combustion Corporation through 1 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $1.18, with the spread shown as a cautious and an optimistic scenario.

Is it still worth investing in stocks now?

The global stock market currently sits 14.0 % above its aggregate fair value. ClearSign Combustion Corporation itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.

What is the share price of ClearSign Combustion Corporation (CLIR)?

The closing price on Sep 24, 2026 was $3.46. Our model-based fair value is $1.18, about −66% upside (overvalued). We carry closing prices from our data provider, not a live tick.

What should I pay attention to with ClearSign Combustion Corporation right now?

The price sits above even our optimistic bull case ($1.47). The favourable scenario is already priced in. Weak quality (36/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. A fairly wide model range ($0.7735 to $1.47) leaves room in how you read the outcome.

Key figures of ClearSign Combustion Corporation

How large is the market capitalisation of ClearSign Combustion Corporation (CLIR)?

The market capitalisation of ClearSign Combustion Corporation is $23.5M. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.

What is the P/S ratio of ClearSign Combustion Corporation (CLIR)?

The price-to-sales ratio of ClearSign Combustion Corporation is 4.67 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.

What are the earnings per share of ClearSign Combustion Corporation (CLIR)?

Earnings per share at ClearSign Combustion Corporation are $−0.1100. Earnings per share over the last twelve months: total profit spread across every single share.

What is the net margin of ClearSign Combustion Corporation (CLIR)?

The net margin of ClearSign Combustion Corporation is −105% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.

What is the return on equity of ClearSign Combustion Corporation (CLIR)?

The return on equity (ROE) of ClearSign Combustion Corporation is −57.1% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.

What is the EBIT return on assets of ClearSign Combustion Corporation (CLIR)?

On an EBIT basis the return on assets of ClearSign Combustion Corporation is −61.8% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.

What is the operating margin of ClearSign Combustion Corporation (CLIR)?

The operating margin of ClearSign Combustion Corporation is −1,193% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.

How fast is revenue growing at ClearSign Combustion Corporation (CLIR)?

Revenue at ClearSign Combustion Corporation is growing −52.4% versus a year earlier (3y avg +141%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.

How much free cash flow does ClearSign Combustion Corporation (CLIR) generate?

The free cash flow of ClearSign Combustion Corporation is −$4.8M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.

How much net cash does ClearSign Combustion Corporation (CLIR) hold?

ClearSign Combustion Corporation holds more cash than debt, $9.0M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.

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