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Side-by-side financial comparison of ADMA BIOLOGICS, INC. (ADMA) and OPAL Fuels Inc. (OPAL). Click either name above to swap in a different company.
ADMA BIOLOGICS, INC. is the larger business by last-quarter revenue ($139.2M vs $88.4M, roughly 1.6× OPAL Fuels Inc.). ADMA BIOLOGICS, INC. runs the higher net margin — 35.5% vs 18.3%, a 17.2% gap on every dollar of revenue. On growth, OPAL Fuels Inc. posted the faster year-over-year revenue change (18.7% vs 18.4%). ADMA BIOLOGICS, INC. produced more free cash flow last quarter ($34.6M vs $-13.4M). Over the past eight quarters, ADMA BIOLOGICS, INC.'s revenue compounded faster (30.4% CAGR vs 17.6%).
ADMA Biologics Inc. is a biopharmaceutical enterprise focused on the research, development, manufacturing and commercialization of specialty plasma-derived immunoglobulin therapies. It primarily operates in the United States, catering to patients with primary immunodeficiency and other immune-related disorders, healthcare providers and medical institutions across its core immune health therapeutic segment.
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.
ADMA vs OPAL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $139.2M | $88.4M |
| Net Profit | $49.4M | $16.2M |
| Gross Margin | 63.8% | — |
| Operating Margin | 45.1% | 7.5% |
| Net Margin | 35.5% | 18.3% |
| Revenue YoY | 18.4% | 18.7% |
| Net Profit YoY | -55.9% | 401.5% |
| EPS (diluted) | $0.20 | $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 | $139.2M | $88.4M | ||
| Q3 25 | $134.2M | $77.9M | ||
| Q2 25 | $122.0M | $77.4M | ||
| Q1 25 | $114.8M | $83.0M | ||
| Q4 24 | $117.5M | $74.5M | ||
| Q3 24 | $119.8M | $82.6M | ||
| Q2 24 | $107.2M | $69.8M | ||
| Q1 24 | $81.9M | $64.0M |
| Q4 25 | $49.4M | $16.2M | ||
| Q3 25 | $36.4M | $11.4M | ||
| Q2 25 | $34.2M | $7.6M | ||
| Q1 25 | $26.9M | $1.3M | ||
| Q4 24 | $111.9M | $-5.4M | ||
| Q3 24 | $35.9M | $17.1M | ||
| Q2 24 | $32.1M | $1.9M | ||
| Q1 24 | $17.8M | $677.0K |
| Q4 25 | 63.8% | — | ||
| Q3 25 | 56.3% | — | ||
| Q2 25 | 55.1% | — | ||
| Q1 25 | 53.2% | — | ||
| Q4 24 | 53.9% | — | ||
| Q3 24 | 49.8% | — | ||
| Q2 24 | 53.6% | — | ||
| Q1 24 | 47.8% | — |
| Q4 25 | 45.1% | 7.5% | ||
| Q3 25 | 38.0% | 4.6% | ||
| Q2 25 | 35.1% | -1.1% | ||
| Q1 25 | 30.4% | -2.3% | ||
| Q4 24 | 32.6% | -0.5% | ||
| Q3 24 | 33.1% | 14.9% | ||
| Q2 24 | 36.6% | 8.1% | ||
| Q1 24 | 26.7% | 5.6% |
| Q4 25 | 35.5% | 18.3% | ||
| Q3 25 | 27.1% | 14.6% | ||
| Q2 25 | 28.1% | 9.8% | ||
| Q1 25 | 23.4% | 1.5% | ||
| Q4 24 | 95.2% | -7.2% | ||
| Q3 24 | 30.0% | 20.7% | ||
| Q2 24 | 29.9% | 2.7% | ||
| Q1 24 | 21.7% | 1.1% |
| Q4 25 | $0.20 | $0.08 | ||
| Q3 25 | $0.15 | $0.05 | ||
| Q2 25 | $0.14 | $0.03 | ||
| Q1 25 | $0.11 | $-0.01 | ||
| Q4 24 | $0.45 | $-0.05 | ||
| Q3 24 | $0.15 | $0.09 | ||
| Q2 24 | $0.13 | $-0.01 | ||
| Q1 24 | $0.08 | $-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 | $87.6M | $24.4M |
| Total DebtLower is stronger | $72.1M | $361.3M |
| Stockholders' EquityBook value | $477.3M | $-12.9M |
| Total Assets | $624.2M | $959.5M |
| Debt / EquityLower = less leverage | 0.15× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $87.6M | $24.4M | ||
| Q3 25 | $61.4M | $29.9M | ||
| Q2 25 | $90.3M | $29.3M | ||
| Q1 25 | $71.6M | $40.1M | ||
| Q4 24 | $103.1M | $24.3M | ||
| Q3 24 | $86.7M | $31.0M | ||
| Q2 24 | $88.2M | $27.6M | ||
| Q1 24 | $45.3M | $34.2M |
| Q4 25 | $72.1M | $361.3M | ||
| Q3 25 | $72.4M | $351.2M | ||
| Q2 25 | — | $331.6M | ||
| Q1 25 | — | $307.0M | ||
| Q4 24 | $72.3M | $307.5M | ||
| Q3 24 | — | $252.9M | ||
| Q2 24 | — | $233.3M | ||
| Q1 24 | — | $208.7M |
| Q4 25 | $477.3M | $-12.9M | ||
| Q3 25 | $431.2M | $7.5M | ||
| Q2 25 | $398.3M | $-25.0M | ||
| Q1 25 | $373.4M | $57.1M | ||
| Q4 24 | $349.0M | $-148.4M | ||
| Q3 24 | $231.9M | $-180.1M | ||
| Q2 24 | $188.3M | $-273.0M | ||
| Q1 24 | $153.7M | $-382.4M |
| Q4 25 | $624.2M | $959.5M | ||
| Q3 25 | $568.7M | $916.7M | ||
| Q2 25 | $558.4M | $905.5M | ||
| Q1 25 | $510.6M | $884.9M | ||
| Q4 24 | $488.7M | $881.1M | ||
| Q3 24 | $390.6M | $831.1M | ||
| Q2 24 | $376.4M | $782.3M | ||
| Q1 24 | $350.9M | $750.5M |
| Q4 25 | 0.15× | — | ||
| Q3 25 | 0.17× | 46.95× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 5.38× | ||
| Q4 24 | 0.21× | — | ||
| 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 | $35.6M | $-3.5M |
| Free Cash FlowOCF − Capex | $34.6M | $-13.4M |
| FCF MarginFCF / Revenue | 24.8% | -15.1% |
| Capex IntensityCapex / Revenue | 0.8% | 11.1% |
| Cash ConversionOCF / Net Profit | 0.72× | -0.22× |
| TTM Free Cash FlowTrailing 4 quarters | $27.8M | $-34.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $35.6M | $-3.5M | ||
| Q3 25 | $13.3M | $18.2M | ||
| Q2 25 | $21.1M | $-7.9M | ||
| Q1 25 | $-19.7M | $29.7M | ||
| Q4 24 | $50.2M | $-532.0K | ||
| Q3 24 | $25.0M | $17.7M | ||
| Q2 24 | $45.6M | $533.0K | ||
| Q1 24 | $-2.2M | $13.7M |
| Q4 25 | $34.6M | $-13.4M | ||
| Q3 25 | $-1.1M | $-9.3M | ||
| Q2 25 | $18.7M | $-29.7M | ||
| Q1 25 | $-24.4M | $18.1M | ||
| Q4 24 | $47.5M | $-55.0M | ||
| Q3 24 | $24.0M | $-5.4M | ||
| Q2 24 | $43.6M | $-22.5M | ||
| Q1 24 | $-4.6M | $-13.0M |
| Q4 25 | 24.8% | -15.1% | ||
| Q3 25 | -0.8% | -11.9% | ||
| Q2 25 | 15.3% | -38.4% | ||
| Q1 25 | -21.2% | 21.8% | ||
| Q4 24 | 40.4% | -73.8% | ||
| Q3 24 | 20.0% | -6.5% | ||
| Q2 24 | 40.7% | -32.2% | ||
| Q1 24 | -5.6% | -20.4% |
| Q4 25 | 0.8% | 11.1% | ||
| Q3 25 | 10.7% | 35.3% | ||
| Q2 25 | 2.0% | 28.2% | ||
| Q1 25 | 4.1% | 13.9% | ||
| Q4 24 | 2.3% | 73.1% | ||
| Q3 24 | 0.9% | 27.9% | ||
| Q2 24 | 1.9% | 32.9% | ||
| Q1 24 | 2.9% | 41.8% |
| Q4 25 | 0.72× | -0.22× | ||
| Q3 25 | 0.36× | 1.60× | ||
| Q2 25 | 0.62× | -1.04× | ||
| Q1 25 | -0.73× | 23.11× | ||
| Q4 24 | 0.45× | — | ||
| Q3 24 | 0.70× | 1.03× | ||
| Q2 24 | 1.42× | 0.28× | ||
| Q1 24 | -0.12× | 20.26× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ADMA
| ADMA Bio Manufacturing Segment | $123.1M | 88% |
| Other | $16.0M | 12% |
OPAL
| Fuel Station Services Segment | $65.1M | 74% |
| Related Party | $12.1M | 14% |
| Renewable Power Segment | $8.6M | 10% |
| Other | $2.6M | 3% |
