OPAL OPAL Fuels Inc. - Class A Common Stock
$2.26
Price · Aug 19, 2026
Fundamentals as of Aug 10, 2026
52W Range
$2–$3
50% of range
Analyst Rating
BUY
12 analysts
Price Target
$3
+41% upside
P/E (TTM)
15.7
ROE
-45.1%
Net Profit Margin
10.4%
OPAL Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$2.26
Market Cap
—
P/E (TTM)
15.7
EPS (TTM)
$0.15
Revenue (TTM)
$349M
Div Yield
—
ROE
-45.1%
Debt/Equity
—
52W Range
$2 – $3
OPAL Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
$349M
2021-12-31
→
2025-12-31
EPS
$0.15
2021-12-31
→
2025-12-31
Free Cash Flow
$-34M
2022-12-31
→
2025-12-31
Margins
10.4%
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
OPAL
Peer Median
P/E (TTM)
15.7
21.5
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
OPAL
Peer Median
Operating Margin
2.1%
—
Net Profit Margin
10.4%
-0.49%
ROA
4.0%
-2.0%
ROE
-45.1%
-6.9%
ROIC
127.8%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
OPAL
Peer Median
Current Ratio
1.2
1.9
Quick Ratio
0.8
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
OPAL
Peer Median
Revenue YoY
16.3%
—
Revenue CAGR 3Y
14.0%
—
EPS YoY
650.0%
—
Net Income YoY
154.2%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
OPAL
Peer Median
OPAL Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
12 analysts
- Strong Buy 3 25.0%
- Buy 5 41.7%
- Hold 3 25.0%
- Sell 1 8.3%
- Strong Sell 0 0.0%
12-Month Price Target
5 analysts · 2026-08-13
Median
$3.00
Mean
$3.19
Now
$2.26
Low
$2.20
High
$4.00
Median target
$3.00
+32.7%
Mean target
$3.19
+41.2%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
-0.12%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $-0.05 | $0.11 | -0.16% |
| March 31, 2026 | $-0.09 | $0.02 | -0.11% |
| Dec. 31, 2025 | $0.08 | $0.15 | -0.07% |
| Sept. 30, 2025 | $0.05 | $0.21 | -0.16% |
| June 30, 2025 | $0.03 | $0.29 | -0.26% |
| March 31, 2025 | $0.09 | $0.06 | 0.03% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| OPAL | — | 15.7 | 16.3% | 10.4% | -45.1% | — |
| CLMT | $1.72B | -50.9 | -1.2% | -0.82% | 3.9% | 5.9% |
| REX | $1.11B | 13.5 | 1.2% | 14.6% | 16.2% | 14.4% |
| GPRE | $684M | -5.4 | -14.9% | -5.8% | -14.9% | 6.6% |
| GEVO | $485M | -14.3 | 849.3% | -21.1% | -7.2% | — |
| CLNE | $461M | -2.1 | 2.2% | -52.3% | -34.9% | — |
| FF | $140M | -2.8 | -60.7% | -51.6% | -29.7% | -41.2% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 14
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Revenue | $349M | $300M | $256M | $236M | $166M | |
| R&D Expense | $15M | $19M | $5M | $6M | · | |
| SG&A Expense | $64M | $53M | $51M | $51M | $29M | |
| Operating Expenses | $342M | $279M | $249M | $228M | $155M | |
| Operating Income | $7M | $21M | $7M | $8M | $11M | |
| Other Non-op | $-24M | $-16M | $124M | $2M | $0 | |
| Pretax Income | $-16M | $5M | $127M | $33M | $41M | |
| Income Tax | $-53M | $-9M | $0 | $0 | $0 | |
| Net Income | $36M | $14M | $127M | $33M | $41M | |
| EPS (Basic) | $0.15 | $0.02 | $0.70 | $0.13 | $0.00 | |
| EPS (Diluted) | $0.15 | $0.02 | $0.69 | $0.12 | $0.00 | |
| Shares (Basic) | 28,138,140 | 27,617,335 | 27,148,538 | 25,774,312 | 0 | |
| Shares (Diluted) | 29,252,330 | 27,694,650 | 27,494,016 | 26,062,398 | 0 | |
| EBITDA | $30M | $39M | $22M | $15M | $-5M |
Balance Sheet 26
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $24M | $24M | $38M | $40M | $39M | |
| Short-term Investments | · | $0 | $10M | $65M | $0 | |
| Receivables | $62M | $47M | $28M | $31M | $25M | |
| Prepaid Expense | $16M | $24M | $6M | $8M | $5M | |
| Current Assets | $123M | $117M | $128M | $212M | $87M | |
| PP&E (Net) | · | · | · | · | $170M | |
| PP&E (Gross) | · | · | · | · | $259M | |
| Accum. Depreciation | · | · | · | · | $90M | |
| Goodwill | $55M | $55M | $55M | $55M | $55M | |
| Intangibles | · | $1M | $2M | $2M | $3M | |
| Other Non-current Assets | $44M | $26M | $1M | $1M | $489.0K | |
| Total Assets | $959M | $881M | $755M | $645M | $381M | |
| Accounts Payable | · | · | · | · | $18.8K | |
| Accrued Liabilities | · | · | · | · | $94.5K | |
| Current Liabilities | $104M | $104M | $74M | $153M | $142M | |
| Capital Leases | $13M | $12M | $12M | $11M | · | |
| Other Non-current Liabilities | $20M | $27M | $8M | $825.0K | $5M | |
| Total Liabilities | $462M | $416M | $297M | $267M | $286M | |
| Long-term Debt | $361M | $307M | $209M | $170M | · | |
| Total Debt | · | $285M | $197M | $88M | · | |
| Paid-in Capital | · | $0 | $0 | $0 | $0 | |
| Retained Earnings | $-1M | $-137M | $-467M | $-801M | $0 | |
| Treasury Stock | $12M | $12M | $12M | $0 | · | |
| AOCI | $-26.0K | $152.0K | $-15.0K | $195.0K | $0 | |
| Stockholders' Equity | $-13M | $-148M | $-479M | $-801M | $14.0K | |
| Liabilities + Equity | $959M | $881M | $755M | $645M | $381M |
Cash Flow 14
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| D&A | $22M | $18M | $15M | $13M | $11M | |
| Stock-based Comp | $6M | $6M | $6M | $1M | $639.0K | |
| Deferred Tax | $-16M | $0 | · | · | · | |
| Amort. of Intangibles | · | $274.0K | $563.0K | $694.0K | $346.0K | |
| Other Non-cash | $-12M | $-6M | $-109M | $-49M | · | |
| Operating Cash Flow | $36M | $31M | $38M | $-1M | $19M | |
| CapEx | $71M | $127M | $114M | $131M | $90M | |
| Investing Cash Flow | $-77M | $-135M | $-74M | $-184M | $-117M | |
| Stock Issued | $0 | $170.0K | $366.0K | $0 | · | |
| Net Stock Activity | $0 | $170.0K | $366.0K | · | · | |
| Financing Cash Flow | $42M | $84M | $6M | $221M | $125M | |
| Net Change in Cash | · | $-18M | $-30M | $35M | $27M | |
| Taxes Paid | · | $20.0K | $0 | · | · | |
| Free Cash Flow | $-34M | $-94M | $-76M | $-133M | · |
Profitability 7
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Operating Margin | 2.1% | 7.1% | 2.8% | 0.76% | · | |
| Net Margin | 10.4% | 4.8% | 49.6% | 13.8% | · | |
| Pretax Margin | -4.7% | 1.8% | 49.6% | 13.8% | · | |
| EBITDA Margin | 8.6% | 13.0% | 8.4% | 6.3% | · | |
| ROA | 4.0% | 1.8% | 18.7% | 6.3% | -5.2% | |
| ROE | -45.1% | -4.6% | -19.9% | -7.8% | 43.8% | |
| ROIC | 127.8% | 41.1% | -2.5% | -0.25% | · |
Liquidity & Solvency 4
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Current Ratio | 1.2 | 1.1 | 1.7 | 1.4 | 13.4 | |
| Quick Ratio | 0.8 | 0.2 | 1.0 | 0.9 | 7.2 | |
| Debt / Equity | · | -1.9 | -0.4 | -0.1 | · | |
| LT Debt / Equity | · | -1.9 | -0.4 | -0.1 | · |
Efficiency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Asset Turnover | 0.4 | 0.4 | 0.4 | 0.5 | · | |
| Receivables Turnover | 6.4 | · | 8.7 | 8.3 | · |
Growth Rates 6
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Revenue YoY | 16.3% | 17.1% | 8.7% | 41.8% | · | |
| Revenue CAGR 3Y | 14.0% | 21.8% | · | · | · | |
| EPS YoY | 650.0% | -97.1% | 475.0% | · | · | |
| EPS CAGR 3Y | 7.7% | · | · | · | · | |
| Net Income YoY | 154.2% | -88.7% | 289.9% | -20.1% | · | |
| Net Income CAGR 3Y | 3.8% | -29.4% | · | · | · |
Valuation (TTM) 4
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Revenue TTM | $349M | $300M | $256M | $236M | $166M | |
| Net Income TTM | $36M | $14M | $127M | $33M | $41M | |
| P/E | 15.7 | 169.5 | 8.0 | 60.7 | · | |
| Earnings Yield | 6.4% | 0.59% | 12.5% | 1.7% | 0.00% |
Income Statement 14
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $83M | $73M | $100M | $83M | $80M | $85M | $80M | $84M | $71M | $65M | $87M | $71M | $55M | $43M | $67M | $67M | |
| R&D Expense | $3M | $2M | $3M | $3M | $3M | $6M | $9M | $7M | $3M | $785.0K | $894.0K | $974.0K | $1M | $2M | · | · | |
| SG&A Expense | $14M | $15M | $16M | $14M | $17M | $16M | $14M | $13M | $14M | $13M | $11M | $13M | $13M | $14M | $17M | $16M | |
| Operating Expenses | $86M | $78M | $93M | $80M | $81M | $87M | $80M | $72M | $65M | $61M | $66M | $68M | $62M | $54M | $59M | $68M | |
| Operating Income | $-3M | $-5M | $7M | $4M | $-827.0K | $-2M | $-346.0K | $12M | $6M | $4M | $21M | $4M | $-7M | $-11M | $8M | $-2M | |
| Other Non-op | $672.0K | $-575.0K | $-7M | $-7M | $1M | $1M | $-5M | $-4M | $-4M | $-3M | $827.0K | $604.0K | $123M | $-68.0K | $-4M | $6M | |
| Pretax Income | $-9M | $-11M | $-274.0K | $-3M | $-6M | $-7M | $-5M | $8M | $2M | $677.0K | $20M | $227.0K | $114M | $-7M | $32M | $5M | |
| Income Tax | $-5M | $-6M | · | · | $-14M | $-8M | · | · | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Net Income | $-4M | $-6M | $16M | $11M | $8M | $1M | $-5M | $17M | $2M | $677.0K | $20M | $227.0K | $114M | $-7M | $32M | $5M | |
| EPS (Basic) | $-0.05 | $-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 | $0.17 | $-0.04 | |
| EPS (Diluted) | $-0.05 | $-0.09 | $0.08 | $0.05 | $0.03 | $-0.01 | $-0.05 | $0.09 | $-0.01 | $-0.01 | $0.10 | $-0.01 | $0.66 | $-0.06 | $0.18 | $-0.06 | |
| Shares (Basic) | 29,641,216 | 28,298,861 | -56,126,009 | 28,279,527 | 28,265,710 | 27,718,912 | -55,134,639 | 27,709,203 | 27,674,567 | 27,368,204 | -54,191,675 | 26,978,969 | 26,977,682 | 27,383,562 | 102,922 | 25,671,390 | |
| Shares (Diluted) | 29,641,216 | 28,298,861 | -57,288,649 | 29,592,822 | 29,229,245 | 27,718,912 | -55,091,538 | 27,743,417 | 27,674,567 | 27,368,204 | -54,117,154 | 26,978,969 | 27,248,639 | 27,383,562 | 238,626 | 25,823,772 | |
| EBITDA | $2M | $770.0K | · | $9M | $4M | $4M | · | $17M | $10M | $7M | · | $6M | $-3M | $-8M | · | $1M |
Balance Sheet 24
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $91M | $133M | $24M | $30M | $29M | $40M | $24M | $20M | $19M | $28M | $38M | $15M | $22M | $33M | $40M | $25M | |
| Short-term Investments | · | · | · | · | · | · | · | $11M | $9M | $6M | $10M | $18M | $17M | $37M | $65M | $147M | |
| Receivables | $38M | $43M | $62M | $31M | $29M | $31M | $47M | $40M | $24M | $23M | · | $31M | $27M | $30M | $31M | $37M | |
| Prepaid Expense | $14M | $18M | $16M | $11M | $12M | $10M | $24M | $5M | $6M | $6M | $6M | $5M | $4M | $7M | $8M | $7M | |
| Current Assets | $163M | $213M | $123M | $123M | $123M | $116M | $117M | $123M | $105M | $106M | $128M | $106M | $101M | $135M | $212M | $286M | |
| PP&E (Net) | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $250M | |
| PP&E (Gross) | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $348M | |
| Accum. Depreciation | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $97M | |
| Goodwill | $55M | $55M | $55M | $55M | $55M | $55M | $55M | $55M | $55M | $55M | $55M | $55M | $55M | $55M | $55M | $55M | |
| Intangibles | · | · | · | · | · | · | · | $1M | $1M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | |
| Other Non-current Assets | $49M | $42M | $44M | $24M | $23M | $23M | $26M | $2M | $2M | $2M | $1M | $2M | $1M | $1M | $1M | $489.0K | |
| Total Assets | $1.04B | $1.06B | $959M | $917M | $906M | $885M | $881M | $831M | $782M | $750M | $755M | $690M | $672M | $607M | $645M | $656M | |
| Current Liabilities | $90M | $97M | $104M | $83M | $98M | $102M | $104M | $98M | $81M | $75M | $74M | $57M | $115M | $131M | $153M | $188M | |
| Capital Leases | · | · | $13M | $12M | $12M | $12M | $12M | $12M | $13M | $12M | $12M | $12M | $11M | $11M | $11M | · | |
| Other Non-current Liabilities | $21M | $24M | $20M | $8M | $9M | $15M | $27M | $10M | $10M | $9M | $8M | $1M | $856.0K | $740.0K | $825.0K | $597.0K | |
| Total Liabilities | $524M | $549M | $462M | $434M | $432M | $420M | $416M | $361M | $328M | $297M | $297M | $254M | $221M | $243M | $267M | $337M | |
| Long-term Debt | $440M | $457M | $361M | $351M | $332M | $307M | · | $253M | $233M | $209M | · | $187M | $145M | $151M | · | $220M | |
| Total Debt | · | · | · | $330M | $313M | $292M | · | $235M | $218M | $195M | · | $174M | $84M | $91M | · | $83M | |
| Paid-in Capital | · | · | · | · | $0 | $0 | · | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Retained Earnings | $38M | $20M | $-1M | $19M | $-13M | $69M | $-137M | $-168M | $-262M | $-371M | $-467M | $-841M | $-750M | $-808M | $-801M | $-1.07B | |
| Treasury Stock | $12M | $12M | $12M | $12M | $12M | $12M | $12M | $12M | $12M | $12M | $12M | $12M | $12M | $12M | $0 | · | |
| AOCI | $416.0K | $184.0K | $-26.0K | $-12.0K | $2.0K | $58.0K | $152.0K | $-25.0K | $70.0K | $42.0K | $-15.0K | $70.0K | $4.0K | $137.0K | $195.0K | $178.0K | |
| Stockholders' Equity | $26M | $8M | $-13M | $7M | $-25M | $57M | $-148M | $-180M | $-273M | $-382M | $-479M | $-853M | $-762M | $-819M | $-801M | $-1.07B | |
| Liabilities + Equity | $1.04B | $1.06B | $959M | $917M | $906M | $885M | $881M | $831M | $782M | $750M | $755M | $690M | $672M | $607M | $645M | $656M |
Cash Flow 14
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $5M | $6M | $6M | $6M | $5M | $6M | $5M | $5M | $4M | $4M | $4M | $4M | $4M | $4M | $3M | $3M | |
| Stock-based Comp | $2M | $2M | $2M | $902.0K | $2M | $2M | $2M | $1M | $2M | $1M | $1M | $2M | $2M | $971.0K | $990.0K | $159.0K | |
| Deferred Tax | $-5M | $-6M | · | · | $0 | $0 | · | · | · | · | · | · | · | · | · | · | |
| Amort. of Intangibles | · | · | · | · | · | · | · | $69.0K | $71.0K | $67.0K | $96.0K | $154.0K | $153.0K | $160.0K | $99.0K | $197.0K | |
| Other Non-cash | · | $17M | · | · | · | $21M | · | · | · | $8M | · | · | · | $7M | · | · | |
| Operating Cash Flow | $11M | $13M | $-4M | $18M | $-8M | $30M | $-532.0K | $18M | $533.0K | $14M | $33M | $-3M | $4M | $4M | $21M | $-21M | |
| CapEx | $28M | $24M | $10M | $27M | $22M | $12M | $54M | $23M | $23M | $27M | $22M | $20M | $33M | $39M | $46M | $30M | |
| Investing Cash Flow | $-39M | $-19M | $-7M | $-34M | $-27M | $-9M | $-48M | $-32M | $-32M | $-22M | $-29M | $-17M | $-19M | $-9M | $35M | $-219M | |
| Stock Issued | · | · | $-58.0K | $0 | $58.0K | $0 | $0 | $0 | $73.0K | $97.0K | $366.0K | $0 | $0 | $0 | · | · | |
| Net Stock Activity | · | · | · | · | · | $0 | · | · | · | $97.0K | · | · | · | · | · | · | |
| Financing Cash Flow | $-13M | $115M | $7M | $16M | $23M | $-5M | $52M | $17M | $22M | $-7M | $21M | $14M | $3M | $-33M | $-50M | $271M | |
| Net Change in Cash | · | · | · | · | $-11M | $16M | · | $2M | $-10M | $-15M | $26M | $-6M | $-13M | $-37M | $6M | $30M | |
| Taxes Paid | · | · | · | $15M | $14M | $8M | · | $9M | $0 | $0 | · | · | · | · | · | · | |
| Free Cash Flow | · | $-11M | · | · | · | $18M | · | · | · | $-13M | · | · | · | $-35M | · | · |
Profitability 7
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | -3.6% | -6.6% | · | 4.3% | -1.0% | -2.3% | · | 14.6% | 8.0% | 5.5% | · | 2.6% | -11.6% | -26.2% | · | -2.9% | |
| Net Margin | -5.0% | -7.6% | · | 13.7% | 9.4% | 1.5% | · | 20.3% | 2.7% | 1.0% | · | 0.32% | 207.2% | -17.1% | · | · | |
| Pretax Margin | -10.7% | -15.4% | · | -3.8% | -7.6% | -7.9% | · | 9.8% | 2.7% | 1.0% | · | 0.32% | 207.2% | -17.1% | · | 8.1% | |
| EBITDA Margin | 2.6% | 1.1% | · | 11.0% | 5.5% | 4.7% | · | 20.2% | 14.0% | 11.2% | · | 7.9% | -5.0% | -17.9% | · | 2.0% | |
| ROA | -0.43% | -0.57% | · | 1.3% | 0.90% | 0.16% | · | 2.2% | 0.26% | 0.10% | · | 0.03% | 23.2% | -1.6% | · | · | |
| ROE | -629.8% | -17.1% | · | -13.2% | -5.1% | -0.79% | · | -3.3% | -0.37% | -0.11% | · | -0.02% | -29.1% | 1.7% | · | · | |
| ROIC | -5.3% | -29.2% | · | · | · | · | · | · | -10.2% | -1.9% | · | -0.28% | 0.94% | 1.6% | · | 0.20% |
Liquidity & Solvency 4
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.8 | 2.2 | · | 1.5 | 1.3 | 1.1 | · | 1.3 | 1.3 | 1.4 | · | 1.9 | 0.9 | 1.0 | · | 1.5 | |
| Quick Ratio | 1.4 | 1.8 | · | 0.7 | 0.6 | 0.7 | · | 0.7 | 0.6 | 0.8 | · | 1.1 | 0.6 | 0.8 | · | 1.1 | |
| Debt / Equity | · | · | · | 44.2 | -12.5 | 5.1 | · | -1.3 | -0.8 | -0.5 | · | -0.2 | -0.1 | -0.1 | · | -0.1 | |
| LT Debt / Equity | · | · | · | 44.2 | -12.5 | 5.1 | · | -1.3 | -0.8 | -0.5 | · | -0.2 | -0.1 | -0.1 | · | -0.1 |
Efficiency 2
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | |
| Receivables Turnover | 2.5 | 2.0 | · | 2.4 | 3.0 | 3.2 | · | 2.4 | 2.8 | 2.5 | · | 2.1 | 4.1 | 2.9 | · | 3.6 |
Valuation (TTM) 4
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $321M | $323M | · | $333M | $321M | $305M | · | $291M | $262M | $234M | · | $236M | $218M | $212M | · | $216M | |
| Net Income TTM | $9M | $15M | · | $37M | $28M | $21M | · | $20M | $117M | $108M | · | $112M | $112M | $-7M | · | $2M | |
| P/E | -36.7 | -126.0 | · | 13.8 | 24.2 | 30.7 | · | 60.8 | 6.5 | 8.7 | · | 15.5 | 13.8 | -58.1 | · | -138.0 | |
| Earnings Yield | -2.7% | -0.79% | · | 7.3% | 4.1% | 3.3% | · | 1.6% | 15.4% | 11.6% | · | 6.5% | 7.2% | -1.7% | · | -0.72% |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2023-03-31 | 2022-12-31 | |
|---|---|---|---|---|---|
| Revenue | $349M | $300M | $256M | — | $236M |
| Operating Margin % | 2.1% | 7.1% | 2.8% | — | 0.76% |
| Net Income | $36M | $14M | $127M | — | $33M |
| Diluted EPS | $0.15 | $0.02 | $0.69 | — | $0.12 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2023-03-31 | 2022-12-31 | |
|---|---|---|---|---|---|
| Debt / Equity | — | -1.9 | -0.4 | — | -0.1 |
| Current Ratio | 1.2 | 1.1 | 1.7 | — | 1.4 |
| Quick Ratio | 0.8 | 0.2 | 1.0 | — | 0.9 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2023-03-31 | 2022-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $-34M | $-94M | $-76M | — | $-133M |
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Institutional owners (13F) 84 filers · $25.3M total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 17 (+1 vs prior Q) | 9 (+1 vs prior Q) | 24 (+8 vs prior Q) | 16 (-9 vs prior Q) | +1.2M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| ARES MANAGEMENT LLC | $6,730,973 | 3,059,533 | 26.60% | Shares |
| Electron Capital Partners, LLC | $3,960,000 | 1,800,000 | 15.65% | Shares |
| VANGUARD GROUP INC | $2,667,991 | 1,132,905 | 10.54% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $2,211,755 | 1,005,343 | 8.74% | Shares |
| Yaupon Capital Management LP | $1,782,403 | 810,183 | 7.04% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $1,024,234 | 465,503 | 4.05% | Shares |
| Rockefeller Capital Management L.P. | $997,990 | 453,632 | 3.94% | Shares |
| SIR Capital Management, L.P. | $822,468 | 373,849 | 3.25% | Shares |
| GOLDMAN SACHS GROUP INC | $773,441 | 351,564 | 3.06% | Shares |
| J. Derek Lewis & Associates Inc. | $546,700 | 248,500 | 2.16% | Shares |
| STATE STREET CORP | $525,109 | 238,686 | 2.07% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $367,963 | 167,256 | 1.45% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $331,085 | 150,493 | 1.31% | Shares |
| ADAGE CAPITAL PARTNERS GP, L.L.C. | $253,000 | 115,000 | 1.00% | Shares |
| MARSHALL WACE, LLP | $251,305 | 114,230 | 0.99% | Shares |
| UBS Group AG | $153,938 | 69,972 | 0.61% | Shares |
| WINTON GROUP Ltd | $149,116 | 67,780 | 0.59% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $125,985 | 57,266 | 0.50% | Shares |
| MORGAN STANLEY | $114,752 | 52,160 | 0.45% | Shares |
| Shay Capital LLC | $93,784 | 42,629 | 0.37% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $90,944 | 41,338 | 0.36% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $88,966 | 40,439 | 0.35% | Shares |
| Advisors Asset Management, Inc. | $88,764 | 26,184 | 0.35% | Shares |
| NEW YORK STATE COMMON RETIREMENT FUND | $84,480 | 38,400 | 0.33% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $80,529 | 36,604 | 0.32% | Shares |
| SCS Capital Management LLC | $72,871 | 33,123 | 0.29% | Shares |
| BOOTHBAY FUND MANAGEMENT, LLC | $67,382 | 30,628 | 0.27% | Shares |
| Nuveen, LLC | $62,597 | 28,453 | 0.25% | Shares |
| IEQ CAPITAL, LLC | $52,153 | 23,706 | 0.21% | Shares |
| BlackRock, Inc. | $47,291 | 21,496 | 0.19% | Shares |
| DEUTSCHE BANK AG\ | $46,631 | 21,196 | 0.18% | Shares |
| JANE STREET GROUP, LLC | $46,200 | 21,000 | 0.18% | Call option |
| G.F.W. Energy XII, L.P. | $44,000 | 20,000 | 0.17% | Shares |
| Bank of New York Mellon Corp | $39,956 | 18,162 | 0.16% | Shares |
| FMR LLC | $36,654 | 16,661 | 0.14% | Shares |
| Abel Hall, LLC | $36,544 | 16,611 | 0.14% | Shares |
| RHUMBLINE ADVISERS | $33,740 | 15,338 | 0.13% | Shares |
| CITIGROUP INC | $31,286 | 14,221 | 0.12% | Shares |
| Mariner, LLC | $31,268 | 14,210 | 0.12% | Shares |
| ALLIANCEBERNSTEIN L.P. | $30,744 | 12,200 | 0.12% | Shares |
| Baird Financial Group, Inc. | $29,148 | 13,249 | 0.12% | Shares |
| BANK OF AMERICA CORP /DE/ | $27,199 | 12,363 | 0.11% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $26,180 | 11,900 | 0.10% | Call option |
| Vanguard Global Advisers, LLC | $25,335 | 11,516 | 0.10% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $22,009 | 10,004 | 0.09% | Shares |
| JPMORGAN CHASE & CO | $20,802 | 9,005 | 0.08% | Shares |
| Police & Firemen's Retirement System of New Jersey | $19,943 | 9,065 | 0.08% | Shares |
| ZIONS BANCORPORATION, NATIONAL ASSOCIATION /UT/ | $18,550 | 8,432 | 0.07% | Shares |
| Invesco Ltd. | $17,631 | 8,014 | 0.07% | Shares |
| PNC Financial Services Group, Inc. | $16,399 | 7,454 | 0.06% | Shares |
| MERCER GLOBAL ADVISORS INC /ADV | $13,640 | 6,200 | 0.05% | Shares |
| CWM, LLC | $9,221 | 3,659 | 0.04% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $9,176 | 4,171 | 0.04% | Shares |
| Tower Research Capital LLC (TRC) | $9,159 | 4,163 | 0.04% | Shares |
| NORTHERN TRUST CORP | $7,082 | 3,219 | 0.03% | Shares |
| BARCLAYS PLC | $5,733 | 2,606 | 0.02% | Shares |
| Ameritas Investment Partners, Inc. | $4,748 | 2,158 | 0.02% | Shares |
| Legal & General Group Plc | $4,230 | 1,927 | 0.02% | Shares |
| Arax Advisory Partners | $3,500 | 1,591 | 0.01% | Shares |
| Sunbelt Securities, Inc. | $3,342 | 1,326 | 0.01% | Shares |
| OSAIC HOLDINGS, INC. | $3,080 | 1,400 | 0.01% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $2,883 | 1,144 | 0.01% | Shares |
| Farther Finance Advisors, LLC | $2,391 | 1,084 | 0.01% | Shares |
| Russell Investments Group, Ltd. | $2,167 | 985 | 0.01% | Shares |
| WELLS FARGO & COMPANY/MN | $1,142 | 519 | 0.00% | Shares |
| HARBOUR INVESTMENTS, INC. | $1,100 | 500 | 0.00% | Shares |
| Essential Partners LLC | $1,005 | 457 | 0.00% | Shares |
| ROYAL BANK OF CANADA | $1,000 | 640 | 0.00% | Shares |
| Integrated Wealth Concepts LLC | $860 | 390 | 0.00% | Shares |
| Allworth Financial LP | $854 | 388 | 0.00% | Shares |
| AQR CAPITAL MANAGEMENT LLC | $673 | 306 | 0.00% | Shares |
| ROTHSCHILD INVESTMENT LLC | $356 | 162 | 0.00% | Shares |
| SJS Investment Consulting Inc. | $317 | 144 | 0.00% | Shares |
| True Wealth Design, LLC | $297 | 135 | 0.00% | Shares |
| JONES FINANCIAL COMPANIES LLLP | $212 | 100 | 0.00% | Shares |
| Sterling Capital Management LLC | $167 | 76 | 0.00% | Shares |
| Fortitude Family Office, LLC | $143 | 65 | 0.00% | Shares |
| EverSource Wealth Advisors, LLC | $95 | 43 | 0.00% | Shares |
| Clearstead Advisors, LLC | $56 | 25 | 0.00% | Shares |
| Wealth Enhancement Trust Services, Inc. | $37 | 17 | 0.00% | Shares |
| IFP Advisors, Inc | $37 | 17 | 0.00% | Shares |
| PRICE T ROWE ASSOCIATES INC /MD/ | $24 | 10,821 | 0.00% | Shares |
| Caitong International Asset Management Co., Ltd | $18 | 8 | 0.00% | Shares |
| JPL Wealth Management, LLC | $5 | 2 | 0.00% | Shares |
Company insiders 10 insiders · 0 officers · 3 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Scott Mcdougald Sutton | Director | June 11, 2026 P | 50,000 | 1 | 0 | $97,500 |
| Nadeem Nisar | Director | June 2, 2026 P | 247,785 | 1 | 0 | $23,200 |
| Mark Comora | Director | July 21, 2022 A | 145,279,637 | 0 | 0 | $0 |
| Daniel R Revers | 10% owner | Dec. 15, 2023 S | 1,776,117 | 0 | 0 | $0 |
| ArcLight CTC Holdings II, L.P. | 10% owner | April 27, 2023 J | 2,308,310 | 0 | 0 | $0 |
| OPAL HoldCo LLC | 10% owner | July 21, 2022 A | 142,377,450 | 0 | 0 | $0 |
| Brian Goncher | — | July 21, 2022 D | 35,000 | 0 | 0 | $0 |
| Arno Harris | — | July 21, 2022 D | 35,000 | 0 | 0 | $0 |
| Steven Berkenfeld | — | July 21, 2022 D | 35,000 | 0 | 0 | $0 |
| Ja-Chin Lee | — | July 21, 2022 D | 35,000 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 2 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| Mark Comora, OPAL HoldCo LLC, Hillman RNG Investments, LLC, Fortistar LLC ×3 filings | April 23, 2025 | 84.20% | Amendment | — | SEC |
| ArcLight CTC Holdings II, L.P., Daniel R. Revers ×5 filings | Dec. 19, 2023 | — | Initial filing | — | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
ETF ownership Held by 18 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| PBW · Invesco Exchange-Traded Fund Trust | 2.25% | 4,411,599 SH | Aug. 8, 2026 | Daily |
| CCSO · Tidal Trust II | 0.03% | 6,299 NS | April 30, 2026 | N-PORT |
| IWC · iShares Trust | 0.01% | 71,862 SH | Aug. 8, 2026 | Daily |
| IWO · iShares Trust | 0.00% | 208,389 SH | Aug. 8, 2026 | Daily |
| IWM · iShares Trust | 0.00% | 591,262 SH | Aug. 8, 2026 | Daily |
| RSSL · Global X Funds | 0.00% | 9,526 NS | April 30, 2026 | N-PORT |
| ITWO · ProShares Trust | 0.00% | 996 NS | May 31, 2026 | N-PORT |
| UWM · ProShares Trust | 0.00% | 778 NS | May 31, 2026 | N-PORT |
| URTY · ProShares Trust | 0.00% | 786 NS | May 31, 2026 | N-PORT |
| DCOR · Dimensional ETF Trust | 0.00% | 4,869 NS | April 30, 2026 | N-PORT |
| HDG · ProShares Trust | 0.00% | 20 NS | May 31, 2026 | N-PORT |
| DFAS · Dimensional ETF Trust | 0.00% | 9,817 NS | April 30, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.00% | 246,318 SH | Aug. 8, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 728,296 SH | Aug. 8, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.00% | 125,559 SH | Aug. 8, 2026 | Daily |
| VTWG · VANGUARD SCOTTSDALE FUNDS | 0.00% | 22,973 SH | Aug. 8, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 1,961 SH | Aug. 8, 2026 | Daily |
| DFAC · Dimensional ETF Trust | 0.00% | 4,744 NS | April 30, 2026 | N-PORT |