OPAL FUELS INC. financials
Source: EDGAR filings · Built 2026-06-02T03:44:42Z
Key metrics by reporting period
Up to six most-recent periods side-by-side. Rows are the curated key lines — revenue, margins, cash, debt, equity, cash-flow totals, plus the derived and valuation metrics we compute on top. For every tag a filer reported in one period, use the single-filing drilldown below.
Derived Metrics
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Free Cash Flow | -35.45M | -95.85M | -76.55M | -132.76M | -70.79M |
| EBITDA | 29.88M | 39.11M | 21.61M | 20.70M | 21.68M |
| Working Capital | 18.46M | 13.17M | 53.73M | 59.08M | -55.14M |
| Net Debt | 352.97M | 306.23M | 183.19M | 143.20M | 94.77M |
| Operating Margin | 2.27% | 7.30% | 2.80% | 3.28% | 6.80% |
| Net Margin | 11.14% | 4.93% | 50.58% | 14.12% | -9.99% |
| Return on Equity (ROE) | -281.60% | -9.65% | -26.53% | -4.07% | -115676.16% |
| Return on Assets (ROA) | 3.79% | 1.63% | 16.83% | 5.05% | -4.25% |
| Current Ratio | 1.18× | 1.13× | 1.72× | 1.39× | 0.61× |
| Debt-to-Equity | -29.19× | -2.23× | -0.46× | -0.23× | 9577.36× |
| Effective Tax Rate | 322.90% | -164.35% | 0.00% | 0.00% | 0.00% |
| Cash Conversion Ratio | 1.00× | 2.19× | 0.30× | -0.04× | -1.16× |
| Accruals Ratio | -0.00× | -0.02× | 0.12× | 0.05× | -0.09× |
| SBC % of Revenue | 1.99% | 2.22% | 2.35% | 0.64% | 0.39% |
| CapEx Coverage | 0.51× | 0.25× | 0.33× | -0.01× | 0.21× |
| Free Cash Flow Per Share | $-1.21 | $-3.46 | $-2.78 | $-5.09 | — |
Valuation Metrics
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| P/E Trailing (Diluted) | 15.70× | 169.50× | 8.00× | 60.67× | — |
| EV / EBITDA | 14.12× | 10.23× | 15.50× | 16.08× | 4.37× |
| P/S | 0.21× | 0.32× | 0.60× | 0.82× | 0.00× |
| P/B | — | — | — | — | 0.00× |
Income Statement
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Revenue from Contract with Customer, Excluding Assessed Tax | 326.72M | 290.86M | 251.15M | 230.66M | 162.05M |
| Revenues | 348.98M | 299.97M | 256.11M | 235.53M | 166.12M |
| Research and Development Expense | 14.94M | 19.11M | 4.87M | 6.44M | — |
| Selling, General and Administrative Expense | 63.98M | 53.12M | 51.26M | 51.39M | 29.38M |
| Operating Income (Loss) | 7.41M | 21.22M | 7.04M | 7.56M | 11.03M |
| Income Tax Expense (Benefit) | -52.75M | -8.91M | 0 | 0 | 0 |
| Net Income (Loss) Attributable to Parent | — | — | — | — | -16.19M |
| Earnings Per Share, Basic | $0.15 | $0.02 | $0.70 | $0.13 | $0.00 |
| Weighted Average Number of Shares Outstanding, Basic | 28.14M | 27.62M | 27.15M | 25.77M | 0 |
| Earnings Per Share, Diluted | $0.15 | $0.02 | $0.69 | $0.12 | $0.00 |
| Weighted Average Number of Shares Outstanding, Diluted | 29.25M | 27.69M | 27.49M | 26.06M | 0 |
Balance Sheet
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Cash and Cash Equivalents, at Carrying Value | 24.41M | 24.31M | 38.35M | 40.39M | 39.31M |
| Assets, Current | 122.68M | 116.77M | 128.07M | 211.98M | 86.97M |
| Assets | 959.47M | 881.08M | 754.61M | 644.86M | 380.84M |
| Long-term Debt | 361.27M | 307.46M | 209.07M | 170.44M | — |
| Liabilities, Current | 104.22M | 103.60M | 74.34M | 152.91M | 142.12M |
| Long-term Debt, Excluding Current Maturities | — | 285.00M | 196.54M | 88.31M | 134.08M |
| Liabilities | 461.71M | 416.05M | 297.12M | 267.04M | 285.89M |
| Stockholders' Equity Attributable to Parent | -12.93M | -148.45M | -478.81M | -800.60M | 14.00K |
Cash Flow Statement
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Net Cash Provided by (Used in) Operating Activities | 36.50M | 31.39M | 38.27M | -1.35M | 18.86M |
| Payments to Acquire Property, Plant, and Equipment | 70.74M | 127.24M | 113.83M | 131.41M | 89.65M |
| Net Cash Provided by (Used in) Investing Activities | -77.32M | -134.55M | -74.15M | -184.03M | -117.20M |
| Net Cash Provided by (Used in) Financing Activities | 41.56M | 83.50M | 5.90M | 220.55M | 125.01M |
Derived Metrics
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Free Cash Flow | -11.78M | -13.44M | -22.02M | -12.31M | 18.11M | -54.92M |
| EBITDA | 770.00K | 12.29M | 9.15M | 4.44M | 4.00M | 4.86M |
| Working Capital | 116.34M | 18.46M | 39.32M | 25.25M | 14.79M | 13.17M |
| Net Debt | 323.35M | 352.97M | 333.17M | 314.34M | 279.02M | 306.23M |
| Operating Margin | -7.18% | 7.46% | 4.61% | -1.07% | -2.34% | -0.46% |
| Net Margin | -8.30% | 18.30% | 14.62% | 9.76% | 1.55% | -7.21% |
| Return on Equity (ROE) | -68.05% | -125.15% | 152.22% | -30.19% | 2.25% | 3.62% |
| Return on Assets (ROA) | -0.53% | 1.69% | 1.24% | 0.83% | 0.15% | -0.61% |
| Current Ratio | 2.20× | 1.18× | 1.47× | 1.26× | 1.15× | 1.13× |
| Debt-to-Equity | 55.55× | -29.19× | 48.54× | -13.72× | 5.59× | -2.23× |
| Effective Tax Rate | 50.51% | — | — | — | 119.01% | — |
| Cash Conversion Ratio | -2.31× | -0.22× | 3.51× | 2.88× | 23.11× | 0.10× |
| Accruals Ratio | -0.02× | 0.02× | -0.03× | -0.02× | -0.03× | -0.01× |
| SBC % of Revenue | 3.05% | 1.86% | 6.24% | 5.11% | 2.11% | 2.87% |
| CapEx Coverage | 0.52× | -0.35× | 0.65× | 0.64× | 2.57× | -0.01× |
| Free Cash Flow Per Share | $-0.42 | $-0.46 | $-0.74 | $-0.42 | $0.65 | $-1.98 |
Valuation Metrics
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| P/E Trailing (Diluted) | 36.00× | 15.70× | 110.00× | 40.33× | 92.00× | 169.50× |
| EV / EBITDA | 14.81× | 14.12× | 17.74× | 12.71× | 9.21× | 10.23× |
| P/S | 0.23× | 0.21× | 0.21× | 0.22× | 0.16× | 0.32× |
| P/B | 8.68× | — | 8.70× | — | 0.89× | — |
Income Statement
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Revenue from Contract with Customer, Excluding Assessed Tax | 67.42M | 88.42M | 77.89M | 77.45M | 82.97M | 74.46M |
| Revenues | 73.38M | 99.75M | 83.36M | 80.46M | 85.41M | 80.02M |
| Research and Development Expense | 1.81M | 2.84M | 2.54M | 3.48M | 6.08M | 8.59M |
| Selling, General and Administrative Expense | 15.18M | 16.18M | 14.38M | 17.46M | 15.97M | 13.57M |
| Operating Income (Loss) | -4.84M | 6.59M | 3.59M | -827.00K | -1.94M | -346.00K |
| Income Tax Expense (Benefit) | -5.71M | — | — | — | -8.04M | — |
| Earnings Per Share, Basic | $-0.09 | $0.08 | $0.05 | $0.03 | $-0.01 | $-0.05 |
| Weighted Average Number of Shares Outstanding, Basic | 28.30M | 28.14M | 28.28M | 28.27M | 27.72M | 27.62M |
| Earnings Per Share, Diluted | $-0.09 | $0.08 | $0.05 | $0.03 | $-0.01 | $-0.05 |
| Weighted Average Number of Shares Outstanding, Diluted | 28.30M | 29.25M | 29.59M | 29.23M | 27.72M | 27.69M |
Balance Sheet
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Cash and Cash Equivalents, at Carrying Value | 133.24M | 24.41M | 29.93M | 29.27M | 40.08M | 24.31M |
| Assets, Current | 213.40M | 122.68M | 122.78M | 123.49M | 116.39M | 116.77M |
| Assets | 1.06B | 959.47M | 916.75M | 905.54M | 884.92M | 881.08M |
| Long-term Debt | 456.59M | 361.27M | 351.16M | 331.60M | 307.04M | 307.46M |
| Liabilities, Current | 97.06M | 104.22M | 83.46M | 98.23M | 101.60M | 103.60M |
| Long-term Debt, Excluding Current Maturities | — | — | 330.39M | 313.27M | 291.88M | 285.00M |
| Liabilities | 548.71M | 461.71M | 433.95M | 432.29M | 420.48M | 416.05M |
| Stockholders' Equity Attributable to Parent | 8.22M | -12.93M | 7.48M | -25.04M | 57.09M | -148.45M |
Cash Flow Statement
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Net Cash Provided by (Used in) Operating Activities | 12.92M | -3.52M | 40.02M | 21.80M | 29.68M | -532.00K |
| Payments to Acquire Property, Plant, and Equipment | 24.37M | 9.85M | 60.89M | 33.41M | 11.57M | 54.43M |
| Net Cash Provided by (Used in) Investing Activities | -19.38M | -7.39M | -69.93M | -36.03M | -9.28M | -48.01M |
| Net Cash Provided by (Used in) Financing Activities | 115.12M | 6.59M | 34.97M | 18.50M | -4.73M | 51.92M |
Raw XBRL tagging for a single filing
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Methodology
All facts on this page come straight from SEC EDGAR XBRL
company-facts filings (OPAL CIK 0001842279),
grouped by financial statement using FASB's base
us-gaap presentation taxonomy. Filers may re-parent
concepts onto different statements in their own extension
taxonomy, so a handful of rows can show up under a different
statement than on the actual 10-K / 10-Q; custom concepts and
any we couldn't map fall into Other. Hover a
cell to see the fully-qualified concept name and the filer's
description.
For the full methodology — statement grouping, the Other bucket, derived metrics, and fact tooltips — see the methodology reference for the statement grouping, the "Other" bucket, derived metrics, and fact tooltips.