OPAL
OPAL Fuels Inc.
OPAL lost money over the past year, so it has no meaningful PE right now. Analysts expect earnings to recover and profitability to improve.
OPAL Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Under pressure | |
| Under pressure | |
| Weak |
OPAL's revenue is currently stable, but its profitability, cash flow and balance sheet are under pressure.
OPAL PE Valuation
OPAL has no meaningful PE right now: it lost money over the past year.
OPAL Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Strong growth | |
| Stable | |
| Improving | |
| Limited | |
| High |
Analysts expect OPAL's earnings to grow and its profitability to improve, with its revenue holding steady.
OPAL Earnings Per Share
OPAL has swung to a loss: it lost $0.09 per share over the past year, after a profit the year before.
OPAL Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $79.5M | -4.6% |
| Q2 2026 | $83.4M | +3.7% |
| Q1 2026 | $73.4M | -14% |
| Q4 2025 | $99.8M | +25% |
| Q3 2025 | $83.4M | -0.8% |
| Q2 2025 | $80.5M | +13% |
| Q1 2025 | $85.4M | +31% |
| Q4 2024 | $80M | -8% |
OPAL's revenue has held roughly level: $79M last quarter, down 4.6% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 11% | +6.8 points |
| Q2 2026 | -3.6% | -2.6 points |
| Q1 2026 | -6.6% | -4.3 points |
| Q4 2025 | 6.6% | +7 points |
| Q3 2025 | 4.3% | -10 points |
| Q2 2025 | -1% | -9 points |
| Q1 2025 | -2.3% | -7.8 points |
| Q4 2024 | -0.4% | -27 points |
OPAL's operating margin was 11% last quarter, up 6.8 points from the same quarter a year ago.
OPAL Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$2M | +$7.3M |
| Q2 2026 | -$17.6M | +$12.2M |
| Q1 2026 | -$11.5M | -163% |
| Q4 2025 | -$13.4M | +$40M |
| Q3 2025 | -$9.3M | -$3.9M |
| Q2 2025 | -$29.7M | -$7.3M |
| Q1 2025 | $18.1M | +$31.1M |
| Q4 2024 | -$53.3M | -549% |
OPAL has burned cash in almost every quarter: −$44M over the past year, against −$74M the year before.
OPAL Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -- |
| 1 year | +0.2% | +48.4K shares |
| 3 years | +8.8% | +2.4M shares |
OPAL has 30M diluted shares, about the same as a year ago.
| Quarter | Spent |
|---|---|
| Q2 2021 | — |
| Q4 2020 | — |
OPAL Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 11.3x | High |
| Q2 2026 | 14.3x | High |
| Q1 2026 | 12.1x | High |
| Q4 2025 | 11.3x | High |
| Q3 2025 | 13.4x | High |
| Q2 2025 | 9.4x | High |
| Q1 2025 | 7.0x | High |
| Q4 2024 | 6.7x | High |
OPAL's net debt is about 11 years of its operating earnings (EBITDA), down from 13 years a year ago.
OPAL Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 27.9 | Oversold |
| Stochastic | 4.0 | Oversold |
OPAL's weekly RSI is 28 (oversold) and its Stochastic is 4 (oversold).
OPAL PE vs Utilities Sector
| Metric | OPAL | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 20x | — |
OPAL has no meaningful PE right now: it lost money over the past year.
OPAL Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $1.58 | 22% below |
| 20 week MA | $1.92 | 35% below |
| 50 week MA | $2.14 | 42% below |
| 100 week MA | $2.32 | 47% below |
| 200 week MA | $3.96 | 69% below |
OPAL is in a downtrend: it's below all five of its weekly moving averages, and 69% below its 200-week average.
OPAL Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2021 | $9.75 | $9.97 | +2.3% |
| 2022 | $9.97 | $6.87 | -31% |
| 2023 | $6.87 | $5.52 | -20% |
| 2024 | $5.52 | $3.31 | -40% |
| 2025 | $3.31 | $2.69 | -19% |
| 2026 YTD | $2.69 | $1.24 | -54% |
OPAL has finished four years in a row lower, and it's down 54% so far in 2026.