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Side-by-side financial comparison of ACACIA RESEARCH CORP (ACTG) and OPAL Fuels Inc. (OPAL). Click either name above to swap in a different company.
OPAL Fuels Inc. is the larger business by last-quarter revenue ($88.4M vs $50.1M, roughly 1.8× ACACIA RESEARCH CORP). OPAL Fuels Inc. runs the higher net margin — 18.3% vs 6.8%, a 11.5% gap on every dollar of revenue. On growth, OPAL Fuels Inc. posted the faster year-over-year revenue change (18.7% vs 2.6%). Over the past eight quarters, ACACIA RESEARCH CORP's revenue compounded faster (43.6% CAGR vs 17.6%).
Acacia Research Corporation is a publicly traded American company based in New York City. It acquires and operates businesses in industries including the technology, energy, and industrial/manufacturing sectors. Acacia has a strategic relationship with Starboard Value, LP, the company's controlling shareholder. The company has been characterized as a patent troll.
OPAL Fuels Inc. is a North American energy company focused on producing and distributing low-carbon renewable natural gas (RNG). It captures methane from landfills, dairy operations and other organic waste streams to produce RNG, which is mainly supplied to heavy-duty transportation fleets, commercial logistics operators and public transport entities to help reduce their greenhouse gas emissions.
ACTG vs OPAL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $50.1M | $88.4M |
| Net Profit | $3.4M | $16.2M |
| Gross Margin | 12.8% | — |
| Operating Margin | -26.1% | 7.5% |
| Net Margin | 6.8% | 18.3% |
| Revenue YoY | 2.6% | 18.7% |
| Net Profit YoY | 125.5% | 401.5% |
| EPS (diluted) | $0.03 | $0.08 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $50.1M | $88.4M | ||
| Q3 25 | $59.4M | $77.9M | ||
| Q2 25 | $51.2M | $77.4M | ||
| Q1 25 | $124.4M | $83.0M | ||
| Q4 24 | $48.8M | $74.5M | ||
| Q3 24 | $23.3M | $82.6M | ||
| Q2 24 | $25.8M | $69.8M | ||
| Q1 24 | $24.3M | $64.0M |
| Q4 25 | $3.4M | $16.2M | ||
| Q3 25 | $-2.7M | $11.4M | ||
| Q2 25 | $-3.3M | $7.6M | ||
| Q1 25 | $24.3M | $1.3M | ||
| Q4 24 | $-13.4M | $-5.4M | ||
| Q3 24 | $-14.0M | $17.1M | ||
| Q2 24 | $-8.4M | $1.9M | ||
| Q1 24 | $-186.0K | $677.0K |
| Q4 25 | 12.8% | — | ||
| Q3 25 | 21.2% | — | ||
| Q2 25 | 12.8% | — | ||
| Q1 25 | 47.4% | — | ||
| Q4 24 | 17.6% | — | ||
| Q3 24 | 10.1% | — | ||
| Q2 24 | 26.2% | — | ||
| Q1 24 | 49.2% | — |
| Q4 25 | -26.1% | 7.5% | ||
| Q3 25 | -10.8% | 4.6% | ||
| Q2 25 | -24.2% | -1.1% | ||
| Q1 25 | 30.8% | -2.3% | ||
| Q4 24 | -32.4% | -0.5% | ||
| Q3 24 | -44.1% | 14.9% | ||
| Q2 24 | -18.4% | 8.1% | ||
| Q1 24 | -8.6% | 5.6% |
| Q4 25 | 6.8% | 18.3% | ||
| Q3 25 | -4.6% | 14.6% | ||
| Q2 25 | -6.4% | 9.8% | ||
| Q1 25 | 19.5% | 1.5% | ||
| Q4 24 | -27.5% | -7.2% | ||
| Q3 24 | -60.0% | 20.7% | ||
| Q2 24 | -32.7% | 2.7% | ||
| Q1 24 | -0.8% | 1.1% |
| Q4 25 | $0.03 | $0.08 | ||
| Q3 25 | $-0.03 | $0.05 | ||
| Q2 25 | $-0.03 | $0.03 | ||
| Q1 25 | $0.25 | $-0.01 | ||
| Q4 24 | $-0.14 | $-0.05 | ||
| Q3 24 | $-0.14 | $0.09 | ||
| Q2 24 | $-0.08 | $-0.01 | ||
| Q1 24 | $0.00 | $-0.01 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $306.7M | $24.4M |
| Total DebtLower is stronger | $91.9M | $361.3M |
| Stockholders' EquityBook value | $543.5M | $-12.9M |
| Total Assets | $771.0M | $959.5M |
| Debt / EquityLower = less leverage | 0.17× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $306.7M | $24.4M | ||
| Q3 25 | $301.8M | $29.9M | ||
| Q2 25 | $316.7M | $29.3M | ||
| Q1 25 | $272.0M | $40.1M | ||
| Q4 24 | $273.9M | $24.3M | ||
| Q3 24 | $410.9M | $31.0M | ||
| Q2 24 | $441.9M | $27.6M | ||
| Q1 24 | $498.4M | $34.2M |
| Q4 25 | $91.9M | $361.3M | ||
| Q3 25 | — | $351.2M | ||
| Q2 25 | — | $331.6M | ||
| Q1 25 | — | $307.0M | ||
| Q4 24 | — | $307.5M | ||
| Q3 24 | — | $252.9M | ||
| Q2 24 | — | $233.3M | ||
| Q1 24 | — | $208.7M |
| Q4 25 | $543.5M | $-12.9M | ||
| Q3 25 | $537.6M | $7.5M | ||
| Q2 25 | $538.6M | $-25.0M | ||
| Q1 25 | $540.2M | $57.1M | ||
| Q4 24 | $514.8M | $-148.4M | ||
| Q3 24 | $540.2M | $-180.1M | ||
| Q2 24 | $560.7M | $-273.0M | ||
| Q1 24 | $568.3M | $-382.4M |
| Q4 25 | $771.0M | $959.5M | ||
| Q3 25 | $768.9M | $916.7M | ||
| Q2 25 | $775.5M | $905.5M | ||
| Q1 25 | $801.6M | $884.9M | ||
| Q4 24 | $756.4M | $881.1M | ||
| Q3 24 | $707.6M | $831.1M | ||
| Q2 24 | $753.6M | $782.3M | ||
| Q1 24 | $631.7M | $750.5M |
| Q4 25 | 0.17× | — | ||
| Q3 25 | — | 46.95× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 5.38× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $75.2M | $-3.5M |
| Free Cash FlowOCF − Capex | — | $-13.4M |
| FCF MarginFCF / Revenue | — | -15.1% |
| Capex IntensityCapex / Revenue | — | 11.1% |
| Cash ConversionOCF / Net Profit | 22.01× | -0.22× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-34.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $75.2M | $-3.5M | ||
| Q3 25 | $9.5M | $18.2M | ||
| Q2 25 | $50.1M | $-7.9M | ||
| Q1 25 | $2.4M | $29.7M | ||
| Q4 24 | $50.1M | $-532.0K | ||
| Q3 24 | $-593.0K | $17.7M | ||
| Q2 24 | $16.1M | $533.0K | ||
| Q1 24 | $54.8M | $13.7M |
| Q4 25 | — | $-13.4M | ||
| Q3 25 | — | $-9.3M | ||
| Q2 25 | — | $-29.7M | ||
| Q1 25 | $335.0K | $18.1M | ||
| Q4 24 | $-98.5M | $-55.0M | ||
| Q3 24 | $-2.8M | $-5.4M | ||
| Q2 24 | $-126.7M | $-22.5M | ||
| Q1 24 | $54.6M | $-13.0M |
| Q4 25 | — | -15.1% | ||
| Q3 25 | — | -11.9% | ||
| Q2 25 | — | -38.4% | ||
| Q1 25 | 0.3% | 21.8% | ||
| Q4 24 | -201.8% | -73.8% | ||
| Q3 24 | -12.1% | -6.5% | ||
| Q2 24 | -490.5% | -32.2% | ||
| Q1 24 | 224.4% | -20.4% |
| Q4 25 | — | 11.1% | ||
| Q3 25 | — | 35.3% | ||
| Q2 25 | — | 28.2% | ||
| Q1 25 | 1.7% | 13.9% | ||
| Q4 24 | 304.4% | 73.1% | ||
| Q3 24 | 9.6% | 27.9% | ||
| Q2 24 | 553.0% | 32.9% | ||
| Q1 24 | 1.1% | 41.8% |
| Q4 25 | 22.01× | -0.22× | ||
| Q3 25 | — | 1.60× | ||
| Q2 25 | — | -1.04× | ||
| Q1 25 | 0.10× | 23.11× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.03× | ||
| Q2 24 | — | 0.28× | ||
| Q1 24 | — | 20.26× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ACTG
| Energy Operations | $16.0M | 32% |
| Transportation Safety | $10.4M | 21% |
| Office Storage And Display Solutions | $8.4M | 17% |
| Printers Consumables And Parts | $6.5M | 13% |
| Natural Gas Reserves | $5.1M | 10% |
| Natural Gas Liquids Reserves | $3.3M | 7% |
OPAL
| Fuel Station Services Segment | $65.1M | 74% |
| Related Party | $12.1M | 14% |
| Renewable Power Segment | $8.6M | 10% |
| Other | $2.6M | 3% |
