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Side-by-side financial comparison of ESTABLISHMENT LABS HOLDINGS INC. (ESTA) 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 $64.6M, roughly 1.4× ESTABLISHMENT LABS HOLDINGS INC.). On growth, ESTABLISHMENT LABS HOLDINGS INC. posted the faster year-over-year revenue change (45.2% vs 18.7%). ESTABLISHMENT LABS HOLDINGS INC. produced more free cash flow last quarter ($-2.0M vs $-13.4M). Over the past eight quarters, ESTABLISHMENT LABS HOLDINGS INC.'s revenue compounded faster (31.9% CAGR vs 17.6%).
Astera Labs, Inc. is an American fabless semiconductor manufacturer and artificial intelligence company. The company specializes in designing high-speed connectivity solutions for data centers and AI infrastructure. The company has been listed on the Nasdaq since March 2024.
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.
ESTA vs OPAL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $64.6M | $88.4M |
| Net Profit | — | $16.2M |
| Gross Margin | 70.5% | — |
| Operating Margin | -6.1% | 7.5% |
| Net Margin | — | 18.3% |
| Revenue YoY | 45.2% | 18.7% |
| Net Profit YoY | — | 401.5% |
| EPS (diluted) | $-0.07 | $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 | $64.6M | $88.4M | ||
| Q3 25 | $53.8M | $77.9M | ||
| Q2 25 | $51.3M | $77.4M | ||
| Q1 25 | $41.4M | $83.0M | ||
| Q4 24 | $44.5M | $74.5M | ||
| Q3 24 | $40.2M | $82.6M | ||
| Q2 24 | $44.1M | $69.8M | ||
| Q1 24 | $37.2M | $64.0M |
| Q4 25 | — | $16.2M | ||
| Q3 25 | $-11.1M | $11.4M | ||
| Q2 25 | $-16.6M | $7.6M | ||
| Q1 25 | $-20.7M | $1.3M | ||
| Q4 24 | — | $-5.4M | ||
| Q3 24 | $-16.7M | $17.1M | ||
| Q2 24 | $-17.2M | $1.9M | ||
| Q1 24 | $-16.2M | $677.0K |
| Q4 25 | 70.5% | — | ||
| Q3 25 | 70.1% | — | ||
| Q2 25 | 68.8% | — | ||
| Q1 25 | 67.2% | — | ||
| Q4 24 | 68.5% | — | ||
| Q3 24 | 63.9% | — | ||
| Q2 24 | 65.6% | — | ||
| Q1 24 | 65.6% | — |
| Q4 25 | -6.1% | 7.5% | ||
| Q3 25 | -7.5% | 4.6% | ||
| Q2 25 | -27.5% | -1.1% | ||
| Q1 25 | -41.0% | -2.3% | ||
| Q4 24 | -41.9% | -0.5% | ||
| Q3 24 | -32.7% | 14.9% | ||
| Q2 24 | -21.2% | 8.1% | ||
| Q1 24 | -23.8% | 5.6% |
| Q4 25 | — | 18.3% | ||
| Q3 25 | -20.7% | 14.6% | ||
| Q2 25 | -32.3% | 9.8% | ||
| Q1 25 | -50.1% | 1.5% | ||
| Q4 24 | — | -7.2% | ||
| Q3 24 | -41.5% | 20.7% | ||
| Q2 24 | -38.9% | 2.7% | ||
| Q1 24 | -43.6% | 1.1% |
| Q4 25 | $-0.07 | $0.08 | ||
| Q3 25 | $-0.38 | $0.05 | ||
| Q2 25 | $-0.57 | $0.03 | ||
| Q1 25 | $-0.70 | $-0.01 | ||
| Q4 24 | $-1.21 | $-0.05 | ||
| Q3 24 | $-0.59 | $0.09 | ||
| Q2 24 | $-0.62 | $-0.01 | ||
| Q1 24 | $-0.58 | $-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 | $75.6M | $24.4M |
| Total DebtLower is stronger | — | $361.3M |
| Stockholders' EquityBook value | $23.5M | $-12.9M |
| Total Assets | $357.2M | $959.5M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $75.6M | $24.4M | ||
| Q3 25 | $70.6M | $29.9M | ||
| Q2 25 | $54.6M | $29.3M | ||
| Q1 25 | $69.2M | $40.1M | ||
| Q4 24 | $90.3M | $24.3M | ||
| Q3 24 | — | $31.0M | ||
| Q2 24 | — | $27.6M | ||
| Q1 24 | — | $34.2M |
| Q4 25 | — | $361.3M | ||
| Q3 25 | — | $351.2M | ||
| Q2 25 | — | $331.6M | ||
| Q1 25 | — | $307.0M | ||
| Q4 24 | $0 | $307.5M | ||
| Q3 24 | — | $252.9M | ||
| Q2 24 | — | $233.3M | ||
| Q1 24 | — | $208.7M |
| Q4 25 | $23.5M | $-12.9M | ||
| Q3 25 | $16.4M | $7.5M | ||
| Q2 25 | $22.8M | $-25.0M | ||
| Q1 25 | $38.5M | $57.1M | ||
| Q4 24 | $53.1M | $-148.4M | ||
| Q3 24 | $32.7M | $-180.1M | ||
| Q2 24 | $45.0M | $-273.0M | ||
| Q1 24 | $56.9M | $-382.4M |
| Q4 25 | $357.2M | $959.5M | ||
| Q3 25 | $338.9M | $916.7M | ||
| Q2 25 | $329.7M | $905.5M | ||
| Q1 25 | $333.4M | $884.9M | ||
| Q4 24 | $346.8M | $881.1M | ||
| Q3 24 | $282.7M | $831.1M | ||
| Q2 24 | $285.1M | $782.3M | ||
| Q1 24 | $301.8M | $750.5M |
| Q4 25 | — | — | ||
| Q3 25 | — | 46.95× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 5.38× | ||
| Q4 24 | 0.00× | — | ||
| 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 | $-162.0K | $-3.5M |
| Free Cash FlowOCF − Capex | $-2.0M | $-13.4M |
| FCF MarginFCF / Revenue | -3.1% | -15.1% |
| Capex IntensityCapex / Revenue | 2.8% | 11.1% |
| Cash ConversionOCF / Net Profit | — | -0.22× |
| TTM Free Cash FlowTrailing 4 quarters | $-56.9M | $-34.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-162.0K | $-3.5M | ||
| Q3 25 | $-11.3M | $18.2M | ||
| Q2 25 | $-18.8M | $-7.9M | ||
| Q1 25 | $-20.7M | $29.7M | ||
| Q4 24 | $-20.7M | $-532.0K | ||
| Q3 24 | $-12.5M | $17.7M | ||
| Q2 24 | $-14.2M | $533.0K | ||
| Q1 24 | $-11.2M | $13.7M |
| Q4 25 | $-2.0M | $-13.4M | ||
| Q3 25 | $-13.1M | $-9.3M | ||
| Q2 25 | $-20.4M | $-29.7M | ||
| Q1 25 | $-21.5M | $18.1M | ||
| Q4 24 | $-21.3M | $-55.0M | ||
| Q3 24 | $-13.9M | $-5.4M | ||
| Q2 24 | $-15.0M | $-22.5M | ||
| Q1 24 | $-14.5M | $-13.0M |
| Q4 25 | -3.1% | -15.1% | ||
| Q3 25 | -24.4% | -11.9% | ||
| Q2 25 | -39.7% | -38.4% | ||
| Q1 25 | -51.9% | 21.8% | ||
| Q4 24 | -47.8% | -73.8% | ||
| Q3 24 | -34.6% | -6.5% | ||
| Q2 24 | -33.9% | -32.2% | ||
| Q1 24 | -38.9% | -20.4% |
| Q4 25 | 2.8% | 11.1% | ||
| Q3 25 | 3.4% | 35.3% | ||
| Q2 25 | 3.2% | 28.2% | ||
| Q1 25 | 1.8% | 13.9% | ||
| Q4 24 | 1.2% | 73.1% | ||
| Q3 24 | 3.7% | 27.9% | ||
| Q2 24 | 1.8% | 32.9% | ||
| Q1 24 | 8.9% | 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 | — | 20.26× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ESTA
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% |
