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Side-by-side financial comparison of Bank First Corp (BFC) 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 $44.9M, roughly 2.0× Bank First Corp). Bank First Corp runs the higher net margin — 45.8% vs 18.3%, a 27.5% gap on every dollar of revenue. On growth, OPAL Fuels Inc. posted the faster year-over-year revenue change (18.7% vs 12.1%). Bank First Corp produced more free cash flow last quarter ($51.0M vs $-13.4M). Over the past eight quarters, OPAL Fuels Inc.'s revenue compounded faster (17.6% CAGR vs 9.1%).
First Horizon Corporation, formerly First Tennessee Bank, is a financial services company, founded in 1864, and based in Memphis, Tennessee. Through its banking subsidiary First Horizon Bank, it provides financial services through locations in 12 states across the Southeast, a region in which it is the fourth largest regional bank.
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.
BFC vs OPAL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $44.9M | $88.4M |
| Net Profit | $18.4M | $16.2M |
| Gross Margin | — | — |
| Operating Margin | 51.0% | 7.5% |
| Net Margin | 45.8% | 18.3% |
| Revenue YoY | 12.1% | 18.7% |
| Net Profit YoY | 4.8% | 401.5% |
| EPS (diluted) | $1.87 | $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 | $44.9M | $88.4M | ||
| Q3 25 | $44.2M | $77.9M | ||
| Q2 25 | $41.6M | $77.4M | ||
| Q1 25 | $43.1M | $83.0M | ||
| Q4 24 | $40.1M | $74.5M | ||
| Q3 24 | $40.8M | $82.6M | ||
| Q2 24 | $38.9M | $69.8M | ||
| Q1 24 | $37.7M | $64.0M |
| Q4 25 | $18.4M | $16.2M | ||
| Q3 25 | $18.0M | $11.4M | ||
| Q2 25 | $16.9M | $7.6M | ||
| Q1 25 | $18.2M | $1.3M | ||
| Q4 24 | $17.5M | $-5.4M | ||
| Q3 24 | $16.6M | $17.1M | ||
| Q2 24 | $16.1M | $1.9M | ||
| Q1 24 | $15.4M | $677.0K |
| Q4 25 | 51.0% | 7.5% | ||
| Q3 25 | 50.8% | 4.6% | ||
| Q2 25 | 49.7% | -1.1% | ||
| Q1 25 | 51.3% | -2.3% | ||
| Q4 24 | 54.4% | -0.5% | ||
| Q3 24 | 50.7% | 14.9% | ||
| Q2 24 | 51.0% | 8.1% | ||
| Q1 24 | 45.6% | 5.6% |
| Q4 25 | 45.8% | 18.3% | ||
| Q3 25 | 40.7% | 14.6% | ||
| Q2 25 | 40.5% | 9.8% | ||
| Q1 25 | 42.3% | 1.5% | ||
| Q4 24 | 49.3% | -7.2% | ||
| Q3 24 | 40.6% | 20.7% | ||
| Q2 24 | 41.3% | 2.7% | ||
| Q1 24 | 40.8% | 1.1% |
| Q4 25 | $1.87 | $0.08 | ||
| Q3 25 | $1.83 | $0.05 | ||
| Q2 25 | $1.71 | $0.03 | ||
| Q1 25 | $1.82 | $-0.01 | ||
| Q4 24 | $1.75 | $-0.05 | ||
| Q3 24 | $1.65 | $0.09 | ||
| Q2 24 | $1.59 | $-0.01 | ||
| Q1 24 | $1.51 | $-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 | $243.2M | $24.4M |
| Total DebtLower is stronger | — | $361.3M |
| Stockholders' EquityBook value | $643.8M | $-12.9M |
| Total Assets | $4.5B | $959.5M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $243.2M | $24.4M | ||
| Q3 25 | $126.2M | $29.9M | ||
| Q2 25 | $120.3M | $29.3M | ||
| Q1 25 | $300.9M | $40.1M | ||
| Q4 24 | $261.3M | $24.3M | ||
| Q3 24 | $204.4M | $31.0M | ||
| Q2 24 | $99.0M | $27.6M | ||
| Q1 24 | $83.4M | $34.2M |
| Q4 25 | — | $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 | $643.8M | $-12.9M | ||
| Q3 25 | $628.1M | $7.5M | ||
| Q2 25 | $612.3M | $-25.0M | ||
| Q1 25 | $648.4M | $57.1M | ||
| Q4 24 | $639.7M | $-148.4M | ||
| Q3 24 | $628.9M | $-180.1M | ||
| Q2 24 | $614.6M | $-273.0M | ||
| Q1 24 | $609.3M | $-382.4M |
| Q4 25 | $4.5B | $959.5M | ||
| Q3 25 | $4.4B | $916.7M | ||
| Q2 25 | $4.4B | $905.5M | ||
| Q1 25 | $4.5B | $884.9M | ||
| Q4 24 | $4.5B | $881.1M | ||
| Q3 24 | $4.3B | $831.1M | ||
| Q2 24 | $4.1B | $782.3M | ||
| Q1 24 | $4.1B | $750.5M |
| Q4 25 | — | — | ||
| 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 | $62.5M | $-3.5M |
| Free Cash FlowOCF − Capex | $51.0M | $-13.4M |
| FCF MarginFCF / Revenue | 113.6% | -15.1% |
| Capex IntensityCapex / Revenue | 25.5% | 11.1% |
| Cash ConversionOCF / Net Profit | 3.40× | -0.22× |
| TTM Free Cash FlowTrailing 4 quarters | $75.8M | $-34.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $62.5M | $-3.5M | ||
| Q3 25 | $15.5M | $18.2M | ||
| Q2 25 | $11.9M | $-7.9M | ||
| Q1 25 | $6.2M | $29.7M | ||
| Q4 24 | $65.8M | $-532.0K | ||
| Q3 24 | $18.8M | $17.7M | ||
| Q2 24 | $14.9M | $533.0K | ||
| Q1 24 | $1.3M | $13.7M |
| Q4 25 | $51.0M | $-13.4M | ||
| Q3 25 | $12.5M | $-9.3M | ||
| Q2 25 | $8.2M | $-29.7M | ||
| Q1 25 | $4.0M | $18.1M | ||
| Q4 24 | $58.6M | $-55.0M | ||
| Q3 24 | $16.9M | $-5.4M | ||
| Q2 24 | $13.7M | $-22.5M | ||
| Q1 24 | $551.0K | $-13.0M |
| Q4 25 | 113.6% | -15.1% | ||
| Q3 25 | 28.2% | -11.9% | ||
| Q2 25 | 19.8% | -38.4% | ||
| Q1 25 | 9.3% | 21.8% | ||
| Q4 24 | 146.3% | -73.8% | ||
| Q3 24 | 41.5% | -6.5% | ||
| Q2 24 | 35.3% | -32.2% | ||
| Q1 24 | 1.5% | -20.4% |
| Q4 25 | 25.5% | 11.1% | ||
| Q3 25 | 6.7% | 35.3% | ||
| Q2 25 | 8.7% | 28.2% | ||
| Q1 25 | 5.0% | 13.9% | ||
| Q4 24 | 18.0% | 73.1% | ||
| Q3 24 | 4.5% | 27.9% | ||
| Q2 24 | 3.1% | 32.9% | ||
| Q1 24 | 2.1% | 41.8% |
| Q4 25 | 3.40× | -0.22× | ||
| Q3 25 | 0.86× | 1.60× | ||
| Q2 25 | 0.70× | -1.04× | ||
| Q1 25 | 0.34× | 23.11× | ||
| Q4 24 | 3.75× | — | ||
| Q3 24 | 1.13× | 1.03× | ||
| Q2 24 | 0.93× | 0.28× | ||
| Q1 24 | 0.09× | 20.26× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BFC
Segment breakdown not available.
OPAL
| Fuel Station Services Segment | $65.1M | 74% |
| Related Party | $12.1M | 14% |
| Renewable Power Segment | $8.6M | 10% |
| Other | $2.6M | 3% |
