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OPAL Fuels Inc. together with its subsidiaries, engages in the production and distribution of renewable natural gas (RNG) for use as a vehicle fuel for heavy and medium-duty trucking fleets throughout the United States. It operates through three segments, RNG Fuel, Fuel Station Services and Renewable Power. The company also designs, develops, constructs, operates, and services fueling stations for trucking fleets that use natural gas to displace diesel as transportation fuel. In addition, it is involved in the design, development, and construction of hydrogen fueling stations. Further, the company engages in the generation and sale of renewable power to utilities; and environmental attributes associated with RNG and renewable power, as well as sale of RNG as pipeline quality natural gas. OPAL Fuels Inc. was founded in 1998 and is headquartered in White Plains, New York.
Rule-based from financial data. Not advice.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 5 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $349M | $34M | $15M | $-34M | -114.1% | 16.3% | 33.7% |
| 2024 | $300M | $46M | $11M | $-96M | -7.4% | 17.1% | -63.2% |
| 2023 | $256M | $151M | $30M | $-76M | -6.3% | 8.7% | 164.5% |
| 2022 | $236M | $53M | $11M | $-133M | -1.4% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2025 |
|---|---|
| Total Revenue | 348.98 |
| Operating Revenue | 348.98 |
| Cost Of Revenue | 242.79 |
| Gross Profit | 106.18 |
| Operating Expense | 101.39 |
| Research And Development | - |
| Selling General And Administration | 63.98 |
| Total Expenses | 344.19 |
| Operating Income | 4.79 |
| Total Operating Income As Reported | 7.41 |
| EBITDA | 34.43 |
| Normalized EBITDA | 34.43 |
| EBIT | 11.19 |
| Interest Income | 1.25 |
| Interest Expense | 27.52 |
| Net Interest Income | -26.27 |
| Other Non Operating Income Expenses | 2.52 |
| Other Income Expense | 5.15 |
| Interest Income Non Operating | 1.25 |
| Interest Expense Non Operating | 27.52 |
| Net Non Operating Interest Income Expense | -26.27 |
| Pretax Income | -16.34 |
| Tax Provision | -52.75 |
| Tax Rate For Calcs | 0 |
| Tax Effect Of Unusual Items | 0 |
| Net Income Continuous Operations | 36.41 |
| Net Income From Continuing And Discontinued Operation | 14.75 |
| Net Income From Continuing Operation Net Minority Interest | 14.75 |
| Net Income | 14.75 |
| Net Income Common Stockholders | 4.28 |
| Net Income Including Noncontrolling Interests | 36.41 |
| Normalized Income | 14.75 |
| Diluted NI Availto Com Stockholders | 4.28 |
| Basic Average Shares | 28.14 |
| Diluted Average Shares | 29.25 |
| Reconciled Depreciation | 23.24 |
| Reconciled Cost Of Revenue | 242.02 |
| Total Unusual Items | 0 |
| Total Unusual Items Excluding Goodwill | 0 |
| Preferred Stock Dividends | 10.47 |
| Minority Interests | -21.66 |
| Special Income Charges | 0 |
| Gain On Sale Of Business | - |
| Other Special Charges | - |
| Write Off | 0 |
| Impairment Of Capital Assets | - |
| Restructuring And Mergern Acquisition | - |
| Gain On Sale Of Security | - |
| Depreciation Amortization Depletion Income Statement | 22.47 |
| Depreciation And Amortization In Income Statement | 22.47 |
| Gain On Sale Of Ppe | - |
| Total Other Finance Cost | - |
| Other Operating Expenses | 14.94 |
| Earnings From Equity Interest | 2.63 |
Utilities sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| OPAL Fuels Inc.this co. | OPAL | $404M | 27.36↑ premium | -31.22 | -114.1% | 21.25 |
| Consolidated Water Co. Ltd. | CWCO | $481M | 26.23 | 2.17 | 8.3% | 12.42 |
| The York Water Company | YORW | $480M | 23.92 | 2.00 | 8.3% | 16.28 |
| Cadiz Inc. | CDZI | $383M | -11.23 | 16.49 | -146.9% | -20.46 |
| Genie Energy Ltd. | GNE | $365M | 15.20 |
| - |
| - |
| - |
| - |
| - |
| 1.45 |
| 9.6% |
| 4.50 |
| Pure Cycle Corporation | PCYO | $249M | 18.97 | 1.74 | 9.2% | 11.57 |
| RGC Resources, Inc. | RGCO | $233M | 17.55 | 2.05 | 11.7% | 10.73 |
| Global Water Resources, Inc. | GWRS | $210M | 71.03 | 2.43 | 3.4% | 13.81 |
| XCF Global, Inc. | SAFX | $146M | 1.98 | 3.89 | 196.5% | 3.23 |
| Peer Median | - | 18.26 | 2.11 | 8.8% | 11.15 | |