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Montauk Renewables, Inc., a renewable energy company, engages in recovery and processing of biogas from landfills and other non-fossil fuel sources. It operates in two segments, Renewable Natural Gas and Renewable Electricity Generation. The company develops, owns, and operates renewable natural gas (RNG) and renewable electricity projects. It captures methane, prevents it from being released into the atmosphere, and converts it into either RNG or electrical power for the electrical grid. The company's customers for RNG and renewable identification numbers (RIN) include large, long-term owner-operators of landfills and livestock farms, local utilities, and large refiners in the natural gas and refining sectors. Montauk Renewables, Inc. was founded in 1980 and is headquartered in Pittsburgh, Pennsylvania.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $176M | $32M | $2M | $-86M | 0.7% | 0.4% | -82.0% |
| 2024 | $176M | $41M | $10M | $-19M | 3.8% | 0.5% | -34.9% |
| 2023 | $175M | $45M | $15M | $-22M | 6.0% | -14.9% | -57.5% |
| 2022 | $206M | $66M | $35M | $59M | 15.5% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 205.56 | 174.90 | 175.74 | 176.38 |
| Cost Of Revenue | 101.43 | 94.62 | 98.17 | 110.59 |
| Gross Profit | 104.13 | 80.28 | 77.57 | 65.79 |
| Operating Expense | 54.84 | 55.56 | 59.80 | 61.71 |
| Operating Income | 49.29 | 24.72 | 17.77 | 4.08 |
| EBITDA | 65.73 | 45.28 | 40.97 | 32.30 |
| EBIT | 45.03 | 24.12 | 17.45 | 2.33 |
| Pretax Income | 43.24 | 18.37 | 12.18 | -2.49 |
| Tax Provision | 8.05 | 3.42 | 2.44 | -4.24 |
| Net Income | 35.19 | 14.95 | 9.73 | 1.75 |
| Net Income Common Stockholders | 35.19 | 14.95 | 9.73 | 1.75 |
| Total Expenses | 156.27 | 150.18 | 157.97 | 172.30 |
| Interest Expense | 1.79 | 5.75 | 5.28 | 4.82 |
| Selling General And Administration | 34.14 | 34.40 | 36.29 | 31.74 |
| Normalized EBITDA | 70.46 | 46.36 | 42.62 | 35.53 |
| Normalized Income | 39.04 | 15.83 | 11.05 | 4.30 |
| Basic EPS | 0.25 | 0.11 | 0.07 | 0 |
| Diluted EPS | 0.25 | 0.11 | 0.07 | 0 |
| Tax Effect Of Unusual Items | -0.88 | -0.20 | -0.33 | -0.68 |
| Tax Rate For Calcs | 0.19 | 0.19 | 0.20 | 0.21 |
| Total Unusual Items | -4.72 | -1.08 | -1.65 | -3.23 |
| Total Unusual Items Excluding Goodwill | -4.72 | -1.08 | -1.65 | -3.23 |
| Net Income From Continuing Operation Net Minority Interest | 35.19 | 14.95 | 9.73 | 1.75 |
| Reconciled Depreciation | 20.70 | 21.16 | 23.52 | 29.97 |
| Reconciled Cost Of Revenue | 101.43 | 94.62 | 98.17 | 110.59 |
| Net Interest Income | -1.79 | -5.75 | -5.28 | -4.82 |
| Net Income From Continuing And Discontinued Operation | 35.19 | 14.95 | 9.73 | 1.75 |
| Total Operating Income As Reported | 44.57 | 23.64 | 16.12 | 0.85 |
| Diluted Average Shares | 142.58 | 142.15 | 142.40 | 0 |
| Basic Average Shares | 141.24 | 141.73 | 142.28 | 0 |
| Diluted NI Availto Com Stockholders | 35.19 | 14.95 | 9.73 | 1.75 |
| Net Income Including Noncontrolling Interests | 35.19 | 14.95 | 9.73 | 1.75 |
| Net Income Continuous Operations | 35.19 | 14.95 | 9.73 | 1.75 |
| Other Income Expense | -4.26 | -0.60 | -0.32 | -1.75 |
| Other Non Operating Income Expenses | 0.47 | 0.48 | 1.33 | -0.01 |
| Special Income Charges | -4.72 | -1.08 | -1.65 | -3.23 |
| Gain On Sale Of Ppe | 0 | 0 | 0 | 0 |
| Other Special Charges | -0.31 | 0 | 0 | 0 |
| Write Off | 4.85 | 0 | 0 | 0 |
| Impairment Of Capital Assets | 4.85 | 0.90 | 1.59 | 3.23 |
| Restructuring And Mergern Acquisition | 0.18 | 0.18 | 0.06 | 0 |
| Earnings From Equity Interest | 0 | 0 | 0 | 1.49 |
| Net Non Operating Interest Income Expense | -1.79 | -5.75 | -5.28 | -4.82 |
| Interest Expense Non Operating | 1.79 | 5.75 | 5.28 | 4.82 |
| Depreciation Amortization Depletion Income Statement | 20.70 | 21.16 | 23.52 | 29.97 |
| Depreciation And Amortization In Income Statement | 20.70 | 0 | 0 | 0 |
| General And Administrative Expense | 34.14 | 34.40 | 36.29 | 31.74 |
| Other Gand A | 34.14 | 34.40 | 36.29 | 31.74 |
| Operating Revenue | 205.56 | 174.90 | 175.74 | 176.38 |
Basic Materials sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Montauk Renewables, Inc.this co. | MNTK | $206M | 144.00↑ premium | 0.79 | 0.7% | 8.84 |
| U.S. Gold Corp. | USAU | $262M | - | 4.97 | -177.4% | -13.59 |
| Hudson Technologies, Inc. | HDSN | $256M | 16.43 | 1.04 | 6.8% | 7.85 |
| Core Molding Technologies, Inc. | CMT | $252M | 21.23 | 1.47 | 7.1% | 8.18 |
| Clearwater Paper Corporation | CLW |
| $208M |
| - |
| 0.25 |
| -2.3% |
| 5.43 |
| FutureFuel Corp. | FF | $198M | - | 1.28 | -31.9% | -3.38 |
| Smith-Midland Corporation | SMID | $176M | 14.05 | 3.24 | 23.0% | 8.48 |
| Friedman Industries, Incorporated | FRD | $142M | 8.96 | 1.00 | 4.6% | 10.15 |
| Ascent Industries Co. | ACNT | $134M | - | 1.57 | 1.0% | -33.80 |
| Peer Median | - | 15.24 | 1.38 | 2.8% | 6.64 | |