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Side-by-side financial comparison of DMC Global Inc. (BOOM) and OPAL Fuels Inc. (OPAL). Click either name above to swap in a different company.
DMC Global Inc. is the larger business by last-quarter revenue ($143.5M vs $88.4M, roughly 1.6× OPAL Fuels Inc.). OPAL Fuels Inc. runs the higher net margin — 18.3% vs -7.8%, a 26.1% gap on every dollar of revenue. On growth, OPAL Fuels Inc. posted the faster year-over-year revenue change (18.7% vs -5.8%). DMC Global Inc. produced more free cash flow last quarter ($9.6M vs $-13.4M). Over the past eight quarters, OPAL Fuels Inc.'s revenue compounded faster (17.6% CAGR vs -7.3%).
DMC Mining Services is a mining services contractor founded in 1980 operating in Canada, the United States, Chile, and Mongolia
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.
BOOM vs OPAL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $143.5M | $88.4M |
| Net Profit | $-11.2M | $16.2M |
| Gross Margin | 17.1% | — |
| Operating Margin | -7.8% | 7.5% |
| Net Margin | -7.8% | 18.3% |
| Revenue YoY | -5.8% | 18.7% |
| Net Profit YoY | -3871.6% | 401.5% |
| EPS (diluted) | $-0.60 | $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 | $143.5M | $88.4M | ||
| Q3 25 | $151.5M | $77.9M | ||
| Q2 25 | $155.5M | $77.4M | ||
| Q1 25 | $159.3M | $83.0M | ||
| Q4 24 | $152.4M | $74.5M | ||
| Q3 24 | $152.4M | $82.6M | ||
| Q2 24 | $171.2M | $69.8M | ||
| Q1 24 | $166.9M | $64.0M |
| Q4 25 | $-11.2M | $16.2M | ||
| Q3 25 | $-3.1M | $11.4M | ||
| Q2 25 | $116.0K | $7.6M | ||
| Q1 25 | $677.0K | $1.3M | ||
| Q4 24 | $296.0K | $-5.4M | ||
| Q3 24 | $-101.3M | $17.1M | ||
| Q2 24 | $4.0M | $1.9M | ||
| Q1 24 | $2.6M | $677.0K |
| Q4 25 | 17.1% | — | ||
| Q3 25 | 21.7% | — | ||
| Q2 25 | 23.6% | — | ||
| Q1 25 | 25.9% | — | ||
| Q4 24 | 20.8% | — | ||
| Q3 24 | 19.8% | — | ||
| Q2 24 | 27.1% | — | ||
| Q1 24 | 25.4% | — |
| Q4 25 | -7.8% | 7.5% | ||
| Q3 25 | 0.4% | 4.6% | ||
| Q2 25 | 2.5% | -1.1% | ||
| Q1 25 | 4.1% | -2.3% | ||
| Q4 24 | -0.5% | -0.5% | ||
| Q3 24 | -97.7% | 14.9% | ||
| Q2 24 | 6.8% | 8.1% | ||
| Q1 24 | 4.0% | 5.6% |
| Q4 25 | -7.8% | 18.3% | ||
| Q3 25 | -2.0% | 14.6% | ||
| Q2 25 | 0.1% | 9.8% | ||
| Q1 25 | 0.4% | 1.5% | ||
| Q4 24 | 0.2% | -7.2% | ||
| Q3 24 | -66.5% | 20.7% | ||
| Q2 24 | 2.3% | 2.7% | ||
| Q1 24 | 1.5% | 1.1% |
| Q4 25 | $-0.60 | $0.08 | ||
| Q3 25 | $-0.10 | $0.05 | ||
| Q2 25 | $-0.24 | $0.03 | ||
| Q1 25 | $0.04 | $-0.01 | ||
| Q4 24 | $-0.18 | $-0.05 | ||
| Q3 24 | $-8.27 | $0.09 | ||
| Q2 24 | $0.24 | $-0.01 | ||
| Q1 24 | $0.01 | $-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 | $31.9M | $24.4M |
| Total DebtLower is stronger | $50.6M | $361.3M |
| Stockholders' EquityBook value | $242.1M | $-12.9M |
| Total Assets | $635.8M | $959.5M |
| Debt / EquityLower = less leverage | 0.21× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $31.9M | $24.4M | ||
| Q3 25 | $26.4M | $29.9M | ||
| Q2 25 | $12.4M | $29.3M | ||
| Q1 25 | $14.7M | $40.1M | ||
| Q4 24 | $14.3M | $24.3M | ||
| Q3 24 | $14.5M | $31.0M | ||
| Q2 24 | $14.6M | $27.6M | ||
| Q1 24 | $20.4M | $34.2M |
| Q4 25 | $50.6M | $361.3M | ||
| Q3 25 | $56.5M | $351.2M | ||
| Q2 25 | $58.7M | $331.6M | ||
| Q1 25 | $72.4M | $307.0M | ||
| Q4 24 | $70.8M | $307.5M | ||
| Q3 24 | $74.2M | $252.9M | ||
| Q2 24 | $84.1M | $233.3M | ||
| Q1 24 | $88.0M | $208.7M |
| Q4 25 | $242.1M | $-12.9M | ||
| Q3 25 | $253.0M | $7.5M | ||
| Q2 25 | $253.9M | $-25.0M | ||
| Q1 25 | $253.9M | $57.1M | ||
| Q4 24 | $251.0M | $-148.4M | ||
| Q3 24 | $256.5M | $-180.1M | ||
| Q2 24 | $416.0M | $-273.0M | ||
| Q1 24 | $409.9M | $-382.4M |
| Q4 25 | $635.8M | $959.5M | ||
| Q3 25 | $644.1M | $916.7M | ||
| Q2 25 | $645.0M | $905.5M | ||
| Q1 25 | $670.6M | $884.9M | ||
| Q4 24 | $671.3M | $881.1M | ||
| Q3 24 | $702.0M | $831.1M | ||
| Q2 24 | $869.5M | $782.3M | ||
| Q1 24 | $860.0M | $750.5M |
| Q4 25 | 0.21× | — | ||
| Q3 25 | 0.22× | 46.95× | ||
| Q2 25 | 0.23× | — | ||
| Q1 25 | 0.29× | 5.38× | ||
| Q4 24 | 0.28× | — | ||
| Q3 24 | 0.29× | — | ||
| Q2 24 | 0.20× | — | ||
| Q1 24 | 0.21× | — |
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 | $15.2M | $-3.5M |
| Free Cash FlowOCF − Capex | $9.6M | $-13.4M |
| FCF MarginFCF / Revenue | 6.7% | -15.1% |
| Capex IntensityCapex / Revenue | 3.9% | 11.1% |
| Cash ConversionOCF / Net Profit | — | -0.22× |
| TTM Free Cash FlowTrailing 4 quarters | $37.0M | $-34.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $15.2M | $-3.5M | ||
| Q3 25 | $18.6M | $18.2M | ||
| Q2 25 | $15.2M | $-7.9M | ||
| Q1 25 | $4.5M | $29.7M | ||
| Q4 24 | $11.8M | $-532.0K | ||
| Q3 24 | $19.0M | $17.7M | ||
| Q2 24 | $2.3M | $533.0K | ||
| Q1 24 | $13.4M | $13.7M |
| Q4 25 | $9.6M | $-13.4M | ||
| Q3 25 | $14.4M | $-9.3M | ||
| Q2 25 | $12.3M | $-29.7M | ||
| Q1 25 | $709.0K | $18.1M | ||
| Q4 24 | $6.1M | $-55.0M | ||
| Q3 24 | $12.9M | $-5.4M | ||
| Q2 24 | $-204.0K | $-22.5M | ||
| Q1 24 | $10.5M | $-13.0M |
| Q4 25 | 6.7% | -15.1% | ||
| Q3 25 | 9.5% | -11.9% | ||
| Q2 25 | 7.9% | -38.4% | ||
| Q1 25 | 0.4% | 21.8% | ||
| Q4 24 | 4.0% | -73.8% | ||
| Q3 24 | 8.5% | -6.5% | ||
| Q2 24 | -0.1% | -32.2% | ||
| Q1 24 | 6.3% | -20.4% |
| Q4 25 | 3.9% | 11.1% | ||
| Q3 25 | 2.8% | 35.3% | ||
| Q2 25 | 1.9% | 28.2% | ||
| Q1 25 | 2.4% | 13.9% | ||
| Q4 24 | 3.7% | 73.1% | ||
| Q3 24 | 4.0% | 27.9% | ||
| Q2 24 | 1.5% | 32.9% | ||
| Q1 24 | 1.8% | 41.8% |
| Q4 25 | — | -0.22× | ||
| Q3 25 | — | 1.60× | ||
| Q2 25 | 131.43× | -1.04× | ||
| Q1 25 | 6.63× | 23.11× | ||
| Q4 24 | 39.90× | — | ||
| Q3 24 | — | 1.03× | ||
| Q2 24 | 0.58× | 0.28× | ||
| Q1 24 | 5.24× | 20.26× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BOOM
| Dyna Energetics Segment | $68.9M | 48% |
| Other | $57.0M | 40% |
| Nobel Clad Segment | $17.7M | 12% |
OPAL
| Fuel Station Services Segment | $65.1M | 74% |
| Related Party | $12.1M | 14% |
| Renewable Power Segment | $8.6M | 10% |
| Other | $2.6M | 3% |
