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Side-by-side financial comparison of CARRIAGE SERVICES INC (CSV) and OPAL Fuels Inc. (OPAL). Click either name above to swap in a different company.
CARRIAGE SERVICES INC is the larger business by last-quarter revenue ($105.5M vs $88.4M, roughly 1.2× OPAL Fuels Inc.). OPAL Fuels Inc. runs the higher net margin — 18.3% vs 11.6%, a 6.7% gap on every dollar of revenue. On growth, OPAL Fuels Inc. posted the faster year-over-year revenue change (18.7% vs 8.0%). CARRIAGE SERVICES INC produced more free cash flow last quarter ($6.2M vs $-13.4M). Over the past eight quarters, OPAL Fuels Inc.'s revenue compounded faster (17.6% CAGR vs 1.0%).
Jardine Cycle & Carriage Limited is the investment holding company of Jardines in Southeast Asia. It is currently 75% held by the conglomerate.
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.
CSV vs OPAL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $105.5M | $88.4M |
| Net Profit | $12.3M | $16.2M |
| Gross Margin | 34.8% | — |
| Operating Margin | 23.3% | 7.5% |
| Net Margin | 11.6% | 18.3% |
| Revenue YoY | 8.0% | 18.7% |
| Net Profit YoY | 24.5% | 401.5% |
| EPS (diluted) | $0.76 | $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 | $105.5M | $88.4M | ||
| Q3 25 | $102.7M | $77.9M | ||
| Q2 25 | $102.1M | $77.4M | ||
| Q1 25 | $107.1M | $83.0M | ||
| Q4 24 | $97.7M | $74.5M | ||
| Q3 24 | $100.7M | $82.6M | ||
| Q2 24 | $102.3M | $69.8M | ||
| Q1 24 | $103.5M | $64.0M |
| Q4 25 | $12.3M | $16.2M | ||
| Q3 25 | $6.6M | $11.4M | ||
| Q2 25 | $11.7M | $7.6M | ||
| Q1 25 | $20.9M | $1.3M | ||
| Q4 24 | $9.9M | $-5.4M | ||
| Q3 24 | $9.9M | $17.1M | ||
| Q2 24 | $6.3M | $1.9M | ||
| Q1 24 | $7.0M | $677.0K |
| Q4 25 | 34.8% | — | ||
| Q3 25 | 35.3% | — | ||
| Q2 25 | 35.2% | — | ||
| Q1 25 | 35.3% | — | ||
| Q4 24 | 34.4% | — | ||
| Q3 24 | 35.2% | — | ||
| Q2 24 | 36.2% | — | ||
| Q1 24 | 36.0% | — |
| Q4 25 | 23.3% | 7.5% | ||
| Q3 25 | 17.0% | 4.6% | ||
| Q2 25 | 23.5% | -1.1% | ||
| Q1 25 | 29.5% | -2.3% | ||
| Q4 24 | 21.6% | -0.5% | ||
| Q3 24 | 22.7% | 14.9% | ||
| Q2 24 | 18.0% | 8.1% | ||
| Q1 24 | 18.8% | 5.6% |
| Q4 25 | 11.6% | 18.3% | ||
| Q3 25 | 6.4% | 14.6% | ||
| Q2 25 | 11.5% | 9.8% | ||
| Q1 25 | 19.5% | 1.5% | ||
| Q4 24 | 10.1% | -7.2% | ||
| Q3 24 | 9.8% | 20.7% | ||
| Q2 24 | 6.1% | 2.7% | ||
| Q1 24 | 6.7% | 1.1% |
| Q4 25 | $0.76 | $0.08 | ||
| Q3 25 | $0.41 | $0.05 | ||
| Q2 25 | $0.74 | $0.03 | ||
| Q1 25 | $1.34 | $-0.01 | ||
| Q4 24 | $0.62 | $-0.05 | ||
| Q3 24 | $0.63 | $0.09 | ||
| Q2 24 | $0.40 | $-0.01 | ||
| Q1 24 | $0.45 | $-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 | $1.7M | $24.4M |
| Total DebtLower is stronger | — | $361.3M |
| Stockholders' EquityBook value | $254.8M | $-12.9M |
| Total Assets | $1.3B | $959.5M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.7M | $24.4M | ||
| Q3 25 | $1.2M | $29.9M | ||
| Q2 25 | $1.4M | $29.3M | ||
| Q1 25 | $4.6M | $40.1M | ||
| Q4 24 | $1.2M | $24.3M | ||
| Q3 24 | $1.3M | $31.0M | ||
| Q2 24 | $1.5M | $27.6M | ||
| Q1 24 | $1.7M | $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 | $254.8M | $-12.9M | ||
| Q3 25 | $242.1M | $7.5M | ||
| Q2 25 | $235.4M | $-25.0M | ||
| Q1 25 | $223.1M | $57.1M | ||
| Q4 24 | $208.6M | $-148.4M | ||
| Q3 24 | $198.1M | $-180.1M | ||
| Q2 24 | $187.9M | $-273.0M | ||
| Q1 24 | $179.6M | $-382.4M |
| Q4 25 | $1.3B | $959.5M | ||
| Q3 25 | $1.3B | $916.7M | ||
| Q2 25 | $1.3B | $905.5M | ||
| Q1 25 | $1.3B | $884.9M | ||
| Q4 24 | $1.3B | $881.1M | ||
| Q3 24 | $1.3B | $831.1M | ||
| Q2 24 | $1.3B | $782.3M | ||
| Q1 24 | $1.3B | $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 | $14.1M | $-3.5M |
| Free Cash FlowOCF − Capex | $6.2M | $-13.4M |
| FCF MarginFCF / Revenue | 5.9% | -15.1% |
| Capex IntensityCapex / Revenue | 7.5% | 11.1% |
| Cash ConversionOCF / Net Profit | 1.15× | -0.22× |
| TTM Free Cash FlowTrailing 4 quarters | $40.1M | $-34.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $14.1M | $-3.5M | ||
| Q3 25 | $24.7M | $18.2M | ||
| Q2 25 | $8.1M | $-7.9M | ||
| Q1 25 | $13.8M | $29.7M | ||
| Q4 24 | $9.3M | $-532.0K | ||
| Q3 24 | $20.9M | $17.7M | ||
| Q2 24 | $2.2M | $533.0K | ||
| Q1 24 | $19.7M | $13.7M |
| Q4 25 | $6.2M | $-13.4M | ||
| Q3 25 | $18.0M | $-9.3M | ||
| Q2 25 | $5.2M | $-29.7M | ||
| Q1 25 | $10.6M | $18.1M | ||
| Q4 24 | $4.9M | $-55.0M | ||
| Q3 24 | $16.2M | $-5.4M | ||
| Q2 24 | $-1.4M | $-22.5M | ||
| Q1 24 | $16.2M | $-13.0M |
| Q4 25 | 5.9% | -15.1% | ||
| Q3 25 | 17.5% | -11.9% | ||
| Q2 25 | 5.1% | -38.4% | ||
| Q1 25 | 9.9% | 21.8% | ||
| Q4 24 | 5.0% | -73.8% | ||
| Q3 24 | 16.1% | -6.5% | ||
| Q2 24 | -1.4% | -32.2% | ||
| Q1 24 | 15.6% | -20.4% |
| Q4 25 | 7.5% | 11.1% | ||
| Q3 25 | 6.5% | 35.3% | ||
| Q2 25 | 2.8% | 28.2% | ||
| Q1 25 | 3.0% | 13.9% | ||
| Q4 24 | 4.5% | 73.1% | ||
| Q3 24 | 4.6% | 27.9% | ||
| Q2 24 | 3.5% | 32.9% | ||
| Q1 24 | 3.4% | 41.8% |
| Q4 25 | 1.15× | -0.22× | ||
| Q3 25 | 3.76× | 1.60× | ||
| Q2 25 | 0.69× | -1.04× | ||
| Q1 25 | 0.66× | 23.11× | ||
| Q4 24 | 0.94× | — | ||
| Q3 24 | 2.11× | 1.03× | ||
| Q2 24 | 0.34× | 0.28× | ||
| Q1 24 | 2.83× | 20.26× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CSV
| Propertyand Merchandise | $47.8M | 45% |
| Cemetery Interment Rights | $24.8M | 23% |
| Merchandise | $18.9M | 18% |
| Other Revenue | $10.2M | 10% |
| Other | $3.9M | 4% |
OPAL
| Fuel Station Services Segment | $65.1M | 74% |
| Related Party | $12.1M | 14% |
| Renewable Power Segment | $8.6M | 10% |
| Other | $2.6M | 3% |
