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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% | - | - |
| 2021 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 205.56 | 174.90 | 175.74 | 176.38 |
| Operating Revenue | - | 205.56 | 174.90 | 175.74 | 176.38 |
| Cost Of Revenue | - | 101.43 | 94.62 | 98.16 | 110.59 |
| Gross Profit | - | 104.13 | 80.28 | 77.57 | 65.79 |
| Operating Expense | - | 54.84 | 55.56 | 59.80 | 61.71 |
| Selling General And Administration | - | 34.14 | 34.40 | 36.29 | 31.74 |
| Total Expenses | - | 156.27 | 150.18 | 157.97 | 172.30 |
| Operating Income | - | 49.29 | 24.72 | 17.77 | 4.08 |
| Total Operating Income As Reported | - | 44.57 | 23.64 | 16.12 | 0.85 |
| EBITDA | - | 65.73 | 45.28 | 40.97 | 32.30 |
| Normalized EBITDA | - | 70.46 | 46.36 | 42.62 | 35.53 |
| EBIT | - | 45.03 | 24.12 | 17.45 | 2.33 |
| Interest Expense | - | 1.79 | 5.75 | 5.28 | 4.82 |
| Net Interest Income | - | -1.79 | -5.75 | -5.28 | -4.82 |
| Other Non Operating Income Expenses | - | 0.47 | 0.48 | 1.33 | -0.01 |
| Other Income Expense | - | -4.26 | -0.60 | -0.32 | -1.75 |
| Interest Expense Non Operating | - | 1.79 | 5.75 | 5.28 | 4.82 |
| Net Non Operating Interest Income Expense | - | -1.79 | -5.75 | -5.28 | -4.82 |
| Pretax Income | - | 43.24 | 18.37 | 12.18 | -2.49 |
| Tax Provision | - | 8.05 | 3.42 | 2.44 | -4.24 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -0.88 | -0.20 | -0.33 | -0.68 |
| Net Income Continuous Operations | - | 35.19 | 14.95 | 9.73 | 1.75 |
| Net Income From Continuing And Discontinued Operation | - | 35.19 | 14.95 | 9.73 | 1.75 |
| Net Income From Continuing Operation Net Minority Interest | - | 35.19 | 14.95 | 9.73 | 1.75 |
| Net Income | - | 35.19 | 14.95 | 9.73 | 1.75 |
| Net Income Common Stockholders | - | 35.19 | 14.95 | 9.73 | 1.75 |
| Net Income Including Noncontrolling Interests | - | 35.19 | 14.95 | 9.73 | 1.75 |
| Normalized Income | - | 39.04 | 15.83 | 11.05 | 4.30 |
| Diluted NI Availto Com Stockholders | - | 35.19 | 14.95 | 9.73 | 1.75 |
| Basic Average Shares | 141.02 | 141.24 | 141.73 | 142.28 | - |
| Diluted Average Shares | 141.02 | 142.58 | 142.15 | 142.40 | - |
| Reconciled Depreciation | - | 20.70 | 21.16 | 23.52 | 29.97 |
| Reconciled Cost Of Revenue | - | 101.43 | 94.62 | 98.16 | 110.59 |
| Total Unusual Items | - | -4.72 | -1.08 | -1.65 | -3.23 |
| Total Unusual Items Excluding Goodwill | - | -4.72 | -1.08 | -1.65 | -3.23 |
| Special Income Charges | - | -4.72 | -1.08 | -1.65 | -3.23 |
| Other Special Charges | -0.18 | -0.31 | - | - | - |
| Write Off | 1.19 | 4.85 | - | - | - |
| Impairment Of Capital Assets | - | 4.85 | 0.90 | 1.59 | 3.23 |
| Restructuring And Mergern Acquisition | - | 0.18 | 0.18 | 0.06 | 0 |
| Depreciation Amortization Depletion Income Statement | - | 20.70 | 21.16 | 23.52 | 29.97 |
| Depreciation And Amortization In Income Statement | 22.87 | 20.70 | - | - | - |
| General And Administrative Expense | - | 34.14 | 34.40 | 36.29 | 31.74 |
| Other Gand A | - | 34.14 | 34.40 | 36.29 | 31.74 |
| Gain On Sale Of Ppe | -0.82 | - | - | - | - |
| Earnings From Equity Interest | - | - | 0 | 0 | 1.48 |
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 | $242M | 138.43↑ premium | 0.92 | 0.7% | 11.03 |
| U.S. Gold Corp. | USAU | $259M | -12.58 | 22.32 | -177.4% | -19.39 |
| Clearwater Paper Corporation | CLW | $258M | -13.86 | 0.31 | -2.3% | 12.00 |
| Hudson Technologies, Inc. | HDSN | $231M | 13.88 | 0.95 | 6.8% | 8.03 |
| Core Molding Technologies, Inc. | CMT |
| - |
| - |
| - |
| - |
| - |
| - |
| $203M |
| 18.11 |
| 1.28 |
| 7.1% |
| 7.27 |
| FutureFuel Corp. | FF | $192M | -3.88 | 1.24 | -31.9% | - |
| Friedman Industries, Incorporated | FRD | $173M | 28.48 | 1.31 | 4.6% | 15.79 |
| Smith-Midland Corporation | SMID | $164M | 13.08 | 3.01 | 23.0% | 7.76 |
| Ascent Industries Co. | ACNT | $123M | 141.88 | 1.41 | 1.0% | -28.63 |
| Peer Median | - | 13.48 | 1.30 | 2.8% | 7.76 | |