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Side-by-side financial comparison of Clarus Corp (CLAR) 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 $65.4M, roughly 1.4× Clarus Corp). OPAL Fuels Inc. runs the higher net margin — 18.3% vs -47.8%, a 66.1% gap on every dollar of revenue. On growth, OPAL Fuels Inc. posted the faster year-over-year revenue change (18.7% vs -8.4%). Clarus Corp produced more free cash flow last quarter ($11.6M vs $-13.4M). Over the past eight quarters, OPAL Fuels Inc.'s revenue compounded faster (17.6% CAGR vs -2.9%).
Clarus Corp is a global designer, manufacturer, and distributor of high-performance outdoor recreation, climbing, camping, and lifestyle products. It manages a portfolio of leading consumer brands, serving outdoor enthusiasts, professional athletes, and retail partners across North America, Europe, and the Asia-Pacific region, with a focus on innovative, durable gear for active lifestyles.
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.
CLAR vs OPAL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $65.4M | $88.4M |
| Net Profit | $-31.3M | $16.2M |
| Gross Margin | 27.7% | — |
| Operating Margin | -59.6% | 7.5% |
| Net Margin | -47.8% | 18.3% |
| Revenue YoY | -8.4% | 18.7% |
| Net Profit YoY | 52.3% | 401.5% |
| EPS (diluted) | $-0.81 | $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 | $65.4M | $88.4M | ||
| Q3 25 | $69.3M | $77.9M | ||
| Q2 25 | $55.2M | $77.4M | ||
| Q1 25 | $60.4M | $83.0M | ||
| Q4 24 | $71.4M | $74.5M | ||
| Q3 24 | $67.1M | $82.6M | ||
| Q2 24 | $56.5M | $69.8M | ||
| Q1 24 | $69.3M | $64.0M |
| Q4 25 | $-31.3M | $16.2M | ||
| Q3 25 | $-1.6M | $11.4M | ||
| Q2 25 | $-8.4M | $7.6M | ||
| Q1 25 | $-5.2M | $1.3M | ||
| Q4 24 | $-65.5M | $-5.4M | ||
| Q3 24 | $-3.2M | $17.1M | ||
| Q2 24 | $-5.5M | $1.9M | ||
| Q1 24 | $21.9M | $677.0K |
| Q4 25 | 27.7% | — | ||
| Q3 25 | 35.1% | — | ||
| Q2 25 | 35.6% | — | ||
| Q1 25 | 34.4% | — | ||
| Q4 24 | 33.4% | — | ||
| Q3 24 | 35.0% | — | ||
| Q2 24 | 36.1% | — | ||
| Q1 24 | 35.9% | — |
| Q4 25 | -59.6% | 7.5% | ||
| Q3 25 | -4.4% | 4.6% | ||
| Q2 25 | -19.7% | -1.1% | ||
| Q1 25 | -11.2% | -2.3% | ||
| Q4 24 | -70.2% | -0.5% | ||
| Q3 24 | -8.0% | 14.9% | ||
| Q2 24 | -14.4% | 8.1% | ||
| Q1 24 | -9.8% | 5.6% |
| Q4 25 | -47.8% | 18.3% | ||
| Q3 25 | -2.3% | 14.6% | ||
| Q2 25 | -15.3% | 9.8% | ||
| Q1 25 | -8.7% | 1.5% | ||
| Q4 24 | -91.8% | -7.2% | ||
| Q3 24 | -4.7% | 20.7% | ||
| Q2 24 | -9.7% | 2.7% | ||
| Q1 24 | 31.6% | 1.1% |
| Q4 25 | $-0.81 | $0.08 | ||
| Q3 25 | $-0.04 | $0.05 | ||
| Q2 25 | $-0.22 | $0.03 | ||
| Q1 25 | $-0.14 | $-0.01 | ||
| Q4 24 | $-1.72 | $-0.05 | ||
| Q3 24 | $-0.08 | $0.09 | ||
| Q2 24 | $-0.14 | $-0.01 | ||
| Q1 24 | $0.57 | $-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 | $36.7M | $24.4M |
| Total DebtLower is stronger | $0 | $361.3M |
| Stockholders' EquityBook value | $196.4M | $-12.9M |
| Total Assets | $249.0M | $959.5M |
| Debt / EquityLower = less leverage | 0.00× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $36.7M | $24.4M | ||
| Q3 25 | $29.5M | $29.9M | ||
| Q2 25 | $28.5M | $29.3M | ||
| Q1 25 | $41.3M | $40.1M | ||
| Q4 24 | $45.4M | $24.3M | ||
| Q3 24 | $36.4M | $31.0M | ||
| Q2 24 | $46.2M | $27.6M | ||
| Q1 24 | $47.5M | $34.2M |
| Q4 25 | $0 | $361.3M | ||
| Q3 25 | $2.0M | $351.2M | ||
| Q2 25 | $1.9M | $331.6M | ||
| Q1 25 | $1.9M | $307.0M | ||
| Q4 24 | $1.9M | $307.5M | ||
| Q3 24 | — | $252.9M | ||
| Q2 24 | — | $233.3M | ||
| Q1 24 | $37.0K | $208.7M |
| Q4 25 | $196.4M | $-12.9M | ||
| Q3 25 | $225.8M | $7.5M | ||
| Q2 25 | $225.1M | $-25.0M | ||
| Q1 25 | $229.3M | $57.1M | ||
| Q4 24 | $233.1M | $-148.4M | ||
| Q3 24 | $308.5M | $-180.1M | ||
| Q2 24 | $307.3M | $-273.0M | ||
| Q1 24 | $310.4M | $-382.4M |
| Q4 25 | $249.0M | $959.5M | ||
| Q3 25 | $283.1M | $916.7M | ||
| Q2 25 | $286.5M | $905.5M | ||
| Q1 25 | $292.8M | $884.9M | ||
| Q4 24 | $294.1M | $881.1M | ||
| Q3 24 | $375.3M | $831.1M | ||
| Q2 24 | $369.4M | $782.3M | ||
| Q1 24 | $377.0M | $750.5M |
| Q4 25 | 0.00× | — | ||
| Q3 25 | 0.01× | 46.95× | ||
| Q2 25 | 0.01× | — | ||
| Q1 25 | 0.01× | 5.38× | ||
| Q4 24 | 0.01× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 0.00× | — |
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 | $12.5M | $-3.5M |
| Free Cash FlowOCF − Capex | $11.6M | $-13.4M |
| FCF MarginFCF / Revenue | 17.7% | -15.1% |
| Capex IntensityCapex / Revenue | 1.4% | 11.1% |
| Cash ConversionOCF / Net Profit | — | -0.22× |
| TTM Free Cash FlowTrailing 4 quarters | $-9.9M | $-34.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $12.5M | $-3.5M | ||
| Q3 25 | $-5.7M | $18.2M | ||
| Q2 25 | $-9.4M | $-7.9M | ||
| Q1 25 | $-2.1M | $29.7M | ||
| Q4 24 | $16.6M | $-532.0K | ||
| Q3 24 | $-8.3M | $17.7M | ||
| Q2 24 | $834.0K | $533.0K | ||
| Q1 24 | $-16.4M | $13.7M |
| Q4 25 | $11.6M | $-13.4M | ||
| Q3 25 | $-7.0M | $-9.3M | ||
| Q2 25 | $-11.3M | $-29.7M | ||
| Q1 25 | $-3.3M | $18.1M | ||
| Q4 24 | $14.4M | $-55.0M | ||
| Q3 24 | $-9.4M | $-5.4M | ||
| Q2 24 | $-744.0K | $-22.5M | ||
| Q1 24 | $-18.3M | $-13.0M |
| Q4 25 | 17.7% | -15.1% | ||
| Q3 25 | -10.0% | -11.9% | ||
| Q2 25 | -20.4% | -38.4% | ||
| Q1 25 | -5.4% | 21.8% | ||
| Q4 24 | 20.1% | -73.8% | ||
| Q3 24 | -14.0% | -6.5% | ||
| Q2 24 | -1.3% | -32.2% | ||
| Q1 24 | -26.3% | -20.4% |
| Q4 25 | 1.4% | 11.1% | ||
| Q3 25 | 1.8% | 35.3% | ||
| Q2 25 | 3.4% | 28.2% | ||
| Q1 25 | 2.0% | 13.9% | ||
| Q4 24 | 3.1% | 73.1% | ||
| Q3 24 | 1.6% | 27.9% | ||
| Q2 24 | 2.8% | 32.9% | ||
| Q1 24 | 2.7% | 41.8% |
| Q4 25 | — | -0.22× | ||
| Q3 25 | — | 1.60× | ||
| Q2 25 | — | -1.04× | ||
| Q1 25 | — | 23.11× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.03× | ||
| Q2 24 | — | 0.28× | ||
| Q1 24 | -0.75× | 20.26× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CLAR
| Other | $37.1M | 57% |
| Outdoor Segment | $25.3M | 39% |
| Adventure Segment | $3.0M | 5% |
OPAL
| Fuel Station Services Segment | $65.1M | 74% |
| Related Party | $12.1M | 14% |
| Renewable Power Segment | $8.6M | 10% |
| Other | $2.6M | 3% |
