OPAL

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OPAL Fuels Inc.

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Key Metrics

Previous Close: $2.21
52-Week Range: $1.65 – $2.87
Market Cap: $372.23M
P/E (TTM): —
EPS (TTM): -0.01
Dividend Yield: —

Advanced Metrics

Price/Book: 2.45
PEG Ratio: —
Return on Equity: 3.60%
Return on Assets: 0.48%
Gross Margin: 26.33%
Operating Margin: 2.07%
Profit Margin: 5.50%
Current Ratio: 1.82
Debt/Equity: 0.84
Total Debt: $431.69M
Free Cash Flow: $-66.77M
Revenue Growth: 3.70%
Earnings Growth: —
Enterprise Value: $896.30M

OPAL Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$235.53M	$256.11M	$299.97M	$348.98M
Cost of Revenue	$162.79M	$183.90M	$199.85M	$242.79M
Gross Profit	$72.74M	$72.21M	$100.12M	$106.18M
Research & Development	$6.44M	$4.87M	—	—
Selling, General & Admin	$51.39M	$51.26M	$53.12M	$63.98M
Operating Expenses	$70.96M	$70.69M	$90.12M	$101.39M
Operating Income	$1.78M	$1.51M	$10.00M	$4.79M
EBITDA	$53.31M	$150.74M	$45.51M	$34.43M
Pretax Income	$32.58M	$127.02M	$5.42M	-$16.34M
Income Tax	$0.00	$0.00	-$8.91M	-$52.75M
Net Income	$11.32M	$29.95M	$11.03M	$14.75M
Diluted EPS	0.12	0.69	0.02	0.15
Diluted Shares	26.06M	27.49M	27.69M	28.55M

OPAL Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$40.39M	$38.35M	$24.31M	$24.41M
Receivables	$57.42M	$58.45M	$63.25M	$73.35M
Inventory	$7.31M	$10.19M	$10.29M	$10.96M
Current Assets	$211.98M	$128.07M	$116.77M	$122.68M
Total Assets	$644.86M	$754.61M	$881.08M	$959.47M
Current Liabilities	$152.91M	$74.34M	$103.60M	$104.22M
Long-Term Debt	$88.31M	$196.54M	$285.00M	$337.06M
Total Debt	$179.65M	$210.61M	$297.62M	$352.13M
Total Liabilities	$267.04M	$297.12M	$416.05M	$461.71M
Retained Earnings	-$800.81M	-$467.19M	-$137.00M	-$1.31M
Shareholders' Equity	-$800.60M	-$478.81M	-$148.45M	-$12.93M
Working Capital	$59.08M	$53.73M	$13.17M	$18.46M
Net Debt	$127.38M	$159.80M	$273.31M	$327.72M

OPAL Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	-$1.35M	$38.27M	$31.39M	$36.50M
Capital Expenditure	-$131.41M	-$113.83M	-$127.24M	-$70.74M
Free Cash Flow	-$132.76M	-$75.56M	-$95.85M	-$34.24M
Depreciation & Amortisation	$13.79M	$14.69M	$18.56M	$23.24M
Stock-Based Compensation	$1.47M	$5.90M	$6.45M	$6.50M
Investing Cash Flow	-$184.03M	-$74.15M	-$134.55M	-$77.32M
Financing Cash Flow	$220.55M	$5.90M	$83.50M	$41.56M
Dividends Paid	$0.00	-$16.54M	-$13.09M	-$10.47M
Share Repurchases	$0.00	-$16.39M	$0.00	—
Net Change in Cash	$35.17M	-$29.98M	-$19.66M	$738.00K

OPAL Income statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Revenue	$85.41M	$80.46M	$83.36M	$99.75M	$73.38M
Cost of Revenue	$58.64M	$57.04M	$57.92M	$69.19M	$53.85M
Gross Profit	$26.77M	$23.41M	$25.44M	$30.56M	$19.53M
Selling, General & Admin	$15.97M	$17.46M	$14.38M	$16.18M	$15.18M
Operating Expenses	$27.99M	$26.20M	$22.48M	$24.72M	$22.61M
Operating Income	-$1.22M	-$2.79M	$2.95M	$5.84M	-$3.09M
EBITDA	$5.64M	$4.95M	$9.19M	$15.80M	$955.00K
Pretax Income	-$6.75M	-$6.13M	-$3.18M	-$274.00K	-$11.30M
Income Tax	-$8.04M	-$13.69M	-$14.57M	-$16.46M	-$5.71M
Net Income	$2.38M	$3.42M	$4.07M	$4.89M	$6.89M
Diluted EPS	-0.01	0.03	0.05	0.02	-0.09
Diluted Shares	27.72M	29.23M	29.59M	29.00M	28.30M

OPAL Balance Sheet statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Cash & Equivalents	$40.08M	$29.27M	$29.93M	$24.41M	$133.24M
Receivables	$52.77M	$68.40M	$68.71M	$73.35M	$49.42M
Inventory	$12.86M	$13.00M	$12.08M	$10.96M	$12.20M
Current Assets	$116.39M	$123.49M	$122.78M	$122.68M	$213.40M
Total Assets	$884.92M	$905.54M	$916.75M	$959.47M	$1.06B
Current Liabilities	$101.60M	$98.23M	$83.46M	$104.22M	$97.06M
Long-Term Debt	$291.88M	$313.27M	$330.39M	$337.06M	$427.70M
Total Debt	$308.45M	$333.33M	$353.55M	$352.13M	$447.17M
Total Liabilities	$420.48M	$432.29M	$433.95M	$461.71M	$548.71M
Retained Earnings	$68.63M	-$13.44M	$19.09M	-$1.31M	$19.63M
Shareholders' Equity	$57.09M	-$25.04M	$7.48M	-$12.93M	$8.22M
Working Capital	$14.79M	$25.25M	$39.32M	$18.46M	$116.34M
Net Debt	$256.31M	$292.06M	$311.68M	$327.72M	$313.93M

OPAL Cash Flow statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Operating Cash Flow	$29.68M	-$7.87M	$18.21M	-$3.52M	$12.92M
Capital Expenditure	-$11.57M	-$21.84M	-$27.48M	-$9.85M	-$24.37M
Free Cash Flow	$18.11M	-$29.72M	-$9.27M	-$13.37M	-$11.45M
Depreciation & Amortisation	$5.94M	$5.04M	$6.36M	$5.89M	$5.61M
Stock-Based Compensation	$1.75M	$2.21M	$902.00K	$1.64M	$2.06M
Investing Cash Flow	-$9.28M	-$26.75M	-$33.91M	-$7.39M	-$19.38M
Financing Cash Flow	-$4.73M	$23.23M	$16.47M	$6.59M	$115.12M
Dividends Paid	-$2.62M	-$2.62M	-$2.62M	-$2.62M	-$3.44M
Share Repurchases	$0.00	—	—	—	-$100.00M
Net Change in Cash	$15.67M	-$11.39M	$778.00K	-$4.32M	$108.66M

Market Snapshot

About

OPAL Fuels produces and distributes renewable natural gas derived from landfills, livestock waste, and other organic sources, providing low-carbon fuel for transportation and energy sectors.