OPAL Fuels Inc. logo OPAL - OPAL Fuels Inc.

Price: -- -- | CONSENSUS: Buy DETAILS
STRONG
BUY
0
BUY 4
HOLD 3
SELL 1
STRONG
SELL
0
| PRICE TARGET: $8.50 DETAILS
HIGH: $13.00
LOW: $5.00
MEDIAN: $8.00
CONSENSUS: $8.50
UPSIDE: 277.78%
Metric 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4
Revenue
Revenue 73.4 99.8 83.4 80.5 85.4 80.0 84.0 71.0 65.0 87.0 71.1 55.0 43.0 66.7 66.5 53.2 49.0 61.2 47.2 33.6 24.2 33.8
Cost of Revenue 53.8 69.2 57.9 57.0 58.6 52.4 51.4 51.0 47.9 53.4 51.2 44.4 36.2 44.5 49.4 39.6 35.8 42.3 33.5 24.9 18.4 26.3
Gross Profit 19.5 30.6 25.4 23.4 26.8 27.6 32.7 20.0 17.0 33.6 19.9 10.6 6.8 22.3 17.2 13.6 13.3 18.9 13.7 8.7 5.8 7.5
Operating Expenses
R&D Expenses 0 0 0 0 0 8.6 0 0 0.8 0 0 0 0 0 0 0 0 0 0 0 0 0
SG&A Expenses 15.2 16.2 14.4 17.5 16.0 13.6 12.7 13.8 13.2 9.5 13.3 13.2 14.3 14.0 15.8 8.0 10.9 10.3 7.9 0.4 4.9 6.6
Other Expenses 7.4 8.5 8.1 8.7 12.0 5.8 7.7 0.5 (0.5) 12.2 3.0 4.8 3.0 14.1 3.4 3.3 3.4 4.0 2.6 2.1 2.0 18.8
Operating Expenses 22.6 24.7 22.5 26.2 28.0 28.0 20.4 14.3 13.5 12.2 16.3 18.0 17.4 14.1 19.1 11.3 14.3 10.3 10.5 0.4 6.9 25.4
Operating Income
Operating Income (3.1) 5.8 3.0 (2.8) (1.2) (0.3) 12.3 5.7 3.6 21.4 3.6 (7.4) (10.6) 8.2 (1.9) 2.3 (1.0) 8.6 3.2 (0.4) (1.1) (17.8)
Interest Expense 6.6 10.2 6.0 5.8 6.5 6.0 5.5 5.5 4.6 5.3 3.0 1 1.3 0.2 0.8 3.4 2.5 1.8 2.4 0 0.8 0
Interest Income 0.8 0.3 0.3 0.3 0.4 0.3 0.4 0.5 0.7 0.5 0.6 0.6 1.3 1.6 2.9 0.4 0.5 0.6 0.2 0 0 1.1
Profitability
EBITDA 1.0 15.8 9.2 5.0 5.6 5.2 18.3 10.4 7.8 20.9 6.6 118.8 (2.4) 5.4 11.5 6.5 2.0 27.6 5.6 (0.4) 2.3 0.9
EBIT (4.7) 9.9 2.8 (0.3) (0.3) (0.1) 12.8 6.0 4.1 17.3 2.8 115.1 (6.0) 2.4 8.0 3.0 (1.5) 23.6 3.0 (0.4) 0.3 (1.2)
Income Before Tax (11.3) (0.3) (3.2) (6.1) (6.8) (5.4) 8.2 1.9 0.7 20.1 0.2 114.0 (7.3) 32.0 5.4 (0.3) (4.5) 21.8 0.8 (11.6) (0.5) (18.3)
Income Tax Expense (5.7) (16.5) (14.6) (13.7) (8.0) 0 (8.9) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Net Income 6.9 4.9 4.1 3.4 2.4 1.3 5.0 2.5 2.3 5.6 2.4 20.8 1.2 7.4 1.5 1.7 0.7 (19.2) 1.0 (11.6) (0.4) (18.3)
Per Share Data
EPS (Basic) -0.09 0.08 0.05 0.03 -0.01 -0.05 0.09 -0.01 -0.01 0.11 -0.01 0.66 -0.06 0.18 -0.04 0.13 -0.28 0.86 0.22 -0.46 -0.02 -0.73
EPS (Diluted) -0.09 0.08 0.05 0.03 -0.01 -0.05 0.09 -0.01 -0.01 0.11 -0.01 0.66 -0.06 0.18 -0.04 0.13 -0.28 0.86 0.22 -0.46 -0.02 -0.73
Shares Outstanding 28.3 28.1 28.3 28.3 27.7 28.4 27.7 27.7 27.4 28.1 27.0 27.0 27.4 25.7 25.7 25.2 25.2 25.2 25.2 25.2 25.2 25.2
Metric 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2019 Q4
Current Assets
Cash & Cash Equivalents 134.2 24.4 29.9 29.3 40.1 24.3 20.3 19.0 28.2 38.3 15 21.6 33.3 40.4 25.3 0.2 50.2 39.3 24.5 1.2 2.8 12.8 39.3
Short-Term Investments 0 0 0 0 0 0 10.7 8.6 6.0 9.9 18.0 17.0 37.0 65.0 146.9 0 0 0 0 0 0 0 0
Net Receivables 49.4 73.3 68.7 68.4 52.8 64.0 71.1 57.1 50.9 58.5 49.8 42.5 45.1 57.4 54.8 0 42.3 36.3 29.9 0 0 27.5 33.9
Inventory 12.2 11.0 12.1 13.0 12.9 10.3 10.5 10.6 11.1 10.2 11.9 10.6 9.3 7.3 8.7 0 5.8 5.1 5.0 0 0 4.2 5.1
Other Current Assets 17.6 10.2 12.1 12.8 10.7 18.6 10.0 9.4 9.5 11.2 11.1 9.3 10.2 41.9 44.1 0 0.1 0.8 3.9 0 (12.8) 3.6 8.6
Total Current Assets 213.4 122.7 122.8 123.5 116.4 117.2 122.6 104.7 105.7 128.1 105.8 101.0 134.8 212.0 286.3 0.8 103.7 87.0 65.3 2.4 4.2 51.2 87.0
Non-Current Assets
Property, Plant & Equipment 512.5 495.6 484.4 477.1 467.7 471.0 423.2 393.9 366.7 346.9 316.1 299.9 347.9 309.1 250.4 0 195.0 169.8 185.5 0 0 79.5 169.8
Goodwill 54.6 54.6 54.6 54.6 54.6 54.6 54.6 54.6 54.6 54.6 54.6 54.6 54.6 54.6 54.6 0 54.6 54.6 54.6 0 0 3.5 54.6
Intangible Assets 0 0 0 0 0 1.3 1.4 6.2 6.4 6.5 1.7 1.9 2.0 2.2 2.3 0 2.7 2.9 3.1 0 0 3.4 2.9
Long-Term Investments 237.7 231.2 227.5 224.6 219.5 223.6 217.5 212.6 206.0 207.1 199.5 202.4 50.6 51.8 48.7 311.6 46.5 47.1 1.6 311.2 311.2 25.6 0
Other Non-Current Assets 42.3 55.3 27.5 25.8 26.8 13.4 11.8 10.3 11.1 11.4 12.8 12.2 16.8 15.3 13.9 0 22.3 19.5 14.9 0 0 6.3 66.6
Total Non-Current Assets 847.2 836.8 794.0 782.1 768.5 763.9 708.5 677.6 644.8 626.5 584.7 571.0 471.9 432.9 369.8 311.6 321.1 293.9 259.7 311.2 311.2 118.3 293.9
Total Assets 1,060.6 959.5 916.7 905.5 884.9 881.1 831.1 782.3 750.5 754.6 690.5 671.9 606.7 644.9 656.1 312.4 424.8 380.8 325.0 313.6 315.4 169.5 380.8
Current Liabilities
Account Payables 9.6 10.1 15.3 19.6 23.3 16.4 13.1 13.1 10.8 13.9 11.3 13.5 23.3 17.6 6.3 0.1 10.4 12.6 21.3 0 0 8.7 0.2
Short-Term Debt 19.5 15.1 11.2 8.1 4.5 12.6 8.7 5.9 3.5 1.6 1.7 58.6 57.6 79.5 134.2 0 100.2 95.0 21.8 0 0 12.2 86.6
Deferred Revenue 5.1 6.3 8.4 8.6 10.2 9.3 6.1 6.3 7.8 6.3 7.4 6.2 8.5 8.0 6.8 0 9.6 9.8 0 0 0 0 2.0
Other Current Liabilities 56.1 0 0 0 0 2.1 3.7 3.6 1.9 1.9 1.3 1.3 3.1 7.0 7.1 0 2.9 2.2 16.7 0.4 1.8 6.6 53.4
Total Current Liabilities 97.1 104.2 83.5 98.2 101.6 103.6 97.8 81.1 75.4 74.3 56.9 115.3 130.7 152.9 187.6 0.1 150.9 142.1 76.6 0.4 1.8 42.9 142.1
Non-Current Liabilities
Long-Term Debt 427.7 337.1 330.4 313.3 291.9 285.0 234.5 217.5 194.8 196.5 174.0 84.2 91.3 88.3 82.9 0 143.9 134.1 149.7 0 0 91.6 0
Deferred Tax Liabilities 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Non-Current Liabilities 23.9 20.4 8.2 8.8 14.9 15.3 16.5 16.5 15.2 14.4 10.7 10.2 10.3 14.6 66.9 333.9 9.1 9.7 5.0 36.8 25.6 4.5 143.8
Total Non-Current Liabilities 451.6 357.5 350.5 334.1 318.9 312.4 263.4 246.7 221.6 222.8 196.6 105.3 112.6 114.1 149.8 333.9 152.9 143.8 154.8 36.8 25.6 96.1 143.8
Total Liabilities 548.7 461.7 434.0 432.3 420.5 416.0 361.2 327.8 297.0 297.1 253.6 220.5 243.3 267.0 337.4 334.0 303.9 285.9 231.3 37.2 27.4 139.0 285.9
Stockholders' Equity
Common Stock 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0 0.0 53.5 311.2 311.2 49.2 0.0
Retained Earnings 19.6 (1.3) 19.1 (13.4) 68.6 (137.0) (168.5) (261.5) (370.8) (467.2) (841.4) (749.9) (807.9) (800.8) (1,066.1) (21.7) 10.8 0 (4.7) (34.8) (23.2) (25.4) 0
Accumulated Other Comprehensive Income 0.2 (0.0) (0.0) 0.0 0.1 0.2 (0.0) 0.1 0.0 (0.0) 0.1 0.0 0.1 0.2 0.2 0 0 0 0 0 23.8 0 0
Total Stockholders' Equity 8.2 (12.9) 7.5 (25.0) 57.1 (148.4) (180.1) (273.0) (382.4) (478.8) (852.9) (761.5) (819.4) (800.6) (1,065.9) (21.7) 0 0.0 48.8 276.3 288.0 23.8 0.0
Total Liabilities & Equity 1,060.6 959.5 916.7 905.5 884.9 881.1 831.1 782.3 750.5 754.6 690.5 671.9 606.7 644.9 656.1 312.4 303.9 380.8 325.0 313.6 315.4 169.5 285.9
Debt Metrics
Total Debt 447.2 352.1 353.5 333.3 308.4 310.6 256.4 236.8 210.6 210.6 188.3 154.3 160.6 179.7 217.1 0 244.5 229.1 171.5 0 0 103.8 86.6
Net Debt 313.0 327.7 323.6 304.1 268.4 286.2 236.0 217.8 182.4 172.3 173.3 132.7 127.4 139.3 191.8 (0.2) 194.3 189.8 147.0 (1.2) (2.8) 91.0 47.3
Metric 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4
Operating Activities
Net Income (5.6) 16.2 11.4 3.4 2.4 1.3 17.1 1.9 0.7 5.6 0.2 114.0 (7.3) 32.0 5.4 (0.3) (4.5) 22.2 1.0 19.0 (0.5) (18.3)
Depreciation & Amortization 5.6 5.7 6.4 5.8 6.6 5.3 5.5 4.0 3.7 3.8 3.8 3.7 3.6 4.2 3.4 3.4 3.2 4.4 2.6 2.3 1.9 2.1
Stock-Based Compensation 2.1 1.6 0.9 2.2 1.8 0 1.5 1.8 1.0 0 1.9 1.9 1.0 1.0 0.2 0.2 0.2 0.2 0 0.2 0.2 0.1
Change in Working Capital 14.5 (5.4) (3.9) (20.3) 12.3 (1.9) (7.0) (8.1) 7.8 3.1 (9.4) 3.1 10.6 11.7 (12.1) (4.1) (10.1) (17.9) 21.9 11.0 5.2 (8.7)
Other Non-Cash Items 2.1 (0.0) 3.5 1.0 6.7 (1.0) 0.6 0.9 0.5 23.5 1.1 (119.1) (3.7) (28.0) (9.6) 0.5 2.2 (18.9) 8.6 (21.4) (1.0) 20.6
Operating Cash Flow 12.9 1.6 18.2 (7.9) 29.7 3.7 17.7 0.5 13.7 36.0 (3.0) 3.6 4.2 20.9 (12.7) (0.3) (9.0) (10.0) 34.1 11.1 5.8 (4.1)
Investing Activities
Capital Expenditure (24.4) (9.8) (27.5) (21.8) (11.6) (54.4) (23.1) (23.0) (26.8) (21.6) (20.2) (33.2) (38.8) (46.5) (30.8) (32.0) (22.5) (26.3) (63.4) (19.4) (15.1) (13.2)
Acquisitions 0 0 (4.9) 0 0 0.8 (5.4) (7.0) (1.5) 0 (1.0) (11.9) 0 0 0 0 0 0 38.2 0 0 0
Purchases of Investments 0 0 0 0 0 (7.6) 0 0 0 (8.3) 1.1 0 0 82.0 0 0 0 0 (1.6) 0 0 0
Sales/Maturities of Investments 0 0 0 0 0 9.9 0 (2.6) 3.9 8.2 (1.1) 20.0 28.0 0 10.9 0 0 0 2.0 0 0 0
Other Investing Activities 5.0 (2.7) (1.5) (4.9) 2.3 0.8 (4.0) 0.2 2.7 1.0 4.5 5.9 1.9 (0.6) (144.8) 0 0 (21.2) 300.7 3.6 2.1 2.0
Investing Cash Flow (19.4) (12.5) (33.9) (26.7) (9.3) (50.6) (32.5) (32.5) (21.6) (20.7) (16.7) (19.3) (8.9) 34.9 (164.8) (32.0) (22.5) (47.4) 275.9 (15.8) (13.0) (11.2)
Financing Activities
Net Debt Issuance 95.3 10.5 19.1 23.9 (0.4) 54.6 19.6 24.6 (0.4) 12.0 41.8 (7.0) (19.7) (50.1) 8.7 (5.3) 13.6 60.0 10.5 6.3 2.9 (0.1)
Stock Repurchased 0 0 0 0 (0.4) 0 0 0 0 0 (0.0) 0 (16.4) 0 0 0 0 (0.4) 0 0 0 0
Dividends Paid (3.4) (2.6) (2.6) (2.6) (2.6) (2.6) (2.6) (2.6) (5.2) (16.5) (16.5) 0 0 0 0 0 0 0 0 (1.6) (2.1) (0.0)
Other Financing Activities 23.2 (1.2) (0.0) 1.9 (1.3) (0.1) (0.4) (0.4) (1.1) 14.6 (11.1) 9.9 3.4 0.1 139.9 84.9 3.8 12.6 4.2 10.9 11.8 11.1
Financing Cash Flow 115.1 6.6 16.5 23.2 (4.7) 51.9 16.5 21.7 (6.6) 10.4 14.2 3.0 (32.7) (50.0) 148.6 79.6 42.4 72.3 (299.3) 15.6 12.6 11.0
Cash Position
Net Change in Cash 108.7 (5.4) 0.8 (11.4) 15.7 4.0 1.7 (10.2) (14.5) 26.5 (5.5) (12.7) (37.4) 5.9 (28.9) 47.3 10.9 14.8 (0.1) 10.9 5.4 (4.4)
Cash at Beginning 28.3 31.0 33.5 44.9 29.2 21.3 22.4 32.7 47.2 16.2 27.1 39.8 77.2 71.4 100.3 53.0 42.1 27.3 1.2 20.8 15.4 19.8
Cash at End 137.0 25.6 34.3 33.5 44.9 25.3 24.2 22.4 32.7 42.7 21.6 27.1 39.8 77.2 71.4 100.3 53.0 42.1 1.1 31.7 20.8 15.4
Free Cash Flow (11.5) (8.2) (9.3) (29.7) 18.1 (50.8) (5.4) (22.5) (13.0) 14.4 (23.2) (29.6) (34.6) (25.5) (43.5) (32.2) (31.5) (36.3) (29.3) (8.3) (9.3) (17.3)
Key Metrics 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4
Income Statement
Revenue 73.4 99.8 83.4 80.5 85.4 80.0 84.0 71.0 65.0 87.0 71.1 55.0 43.0 66.7 66.5 53.2 49.0 61.2 47.2 33.6 24.2 33.8
Gross Profit 19.5 30.6 25.4 23.4 26.8 27.6 32.7 20.0 17.0 33.6 19.9 10.6 6.8 22.3 17.2 13.6 13.3 18.9 13.7 8.7 5.8 7.5
Operating Income (3.1) 5.8 3.0 (2.8) (1.2) (0.3) 12.3 5.7 3.6 21.4 3.6 (7.4) (10.6) 8.2 (1.9) 2.3 (1.0) 8.6 3.2 (0.4) (1.1) (17.8)
Net Income 6.9 4.9 4.1 3.4 2.4 1.3 5.0 2.5 2.3 5.6 2.4 20.8 1.2 7.4 1.5 1.7 0.7 (19.2) 1.0 (11.6) (0.4) (18.3)
EPS (Diluted) -0.09 0.08 0.05 0.03 -0.01 -0.05 0.09 -0.01 -0.01 0.11 -0.01 0.66 -0.06 0.18 -0.04 0.13 -0.28 0.86 0.22 -0.46 -0.02 -0.73
Balance Sheet
Cash & Equivalents 134.2 24.4 29.9 29.3 40.1 24.3 20.3 19.0 28.2 38.3 15 21.6 33.3 40.4 25.3 0.2 50.2 39.3 24.5 1.2 2.8 12.8 39.3
Total Assets 1,060.6 959.5 916.7 905.5 884.9 881.1 831.1 782.3 750.5 754.6 690.5 671.9 606.7 644.9 656.1 312.4 424.8 380.8 325.0 313.6 315.4 169.5 380.8
Total Debt 447.2 352.1 353.5 333.3 308.4 310.6 256.4 236.8 210.6 210.6 188.3 154.3 160.6 179.7 217.1 0 244.5 229.1 171.5 0 0 103.8 86.6
Stockholders' Equity 8.2 (12.9) 7.5 (25.0) 57.1 (148.4) (180.1) (273.0) (382.4) (478.8) (852.9) (761.5) (819.4) (800.6) (1,065.9) (21.7) 0 0.0 48.8 276.3 288.0 23.8 0.0
Cash Flow
Operating Cash Flow 12.9 1.6 18.2 (7.9) 29.7 3.7 17.7 0.5 13.7 36.0 (3.0) 3.6 4.2 20.9 (12.7) (0.3) (9.0) (10.0) 34.1 11.1 5.8 (4.1)
Capital Expenditure (24.4) (9.8) (27.5) (21.8) (11.6) (54.4) (23.1) (23.0) (26.8) (21.6) (20.2) (33.2) (38.8) (46.5) (30.8) (32.0) (22.5) (26.3) (63.4) (19.4) (15.1) (13.2)
Free Cash Flow (11.5) (8.2) (9.3) (29.7) 18.1 (50.8) (5.4) (22.5) (13.0) 14.4 (23.2) (29.6) (34.6) (25.5) (43.5) (32.2) (31.5) (36.3) (29.3) (8.3) (9.3) (17.3)