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Side-by-side financial comparison of 4D Molecular Therapeutics, Inc. (FDMT) 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 $85.1M, roughly 1.0× 4D Molecular Therapeutics, Inc.). 4D Molecular Therapeutics, Inc. runs the higher net margin — 22.8% vs 18.3%, a 4.5% gap on every dollar of revenue. On growth, 4D Molecular Therapeutics, Inc. posted the faster year-over-year revenue change (8508900.0% vs 18.7%). 4D Molecular Therapeutics, Inc. produced more free cash flow last quarter ($28.5M vs $-13.4M). Over the past eight quarters, 4D Molecular Therapeutics, Inc.'s revenue compounded faster (5412.6% CAGR vs 17.6%).
4D Molecular Therapeutics is a clinical-stage biotechnology company specializing in the research and development of targeted adeno-associated virus (AAV) gene therapies. Its core product candidates address unmet medical needs in ophthalmology, cardiology, and pulmonary disease segments, serving global patient populations with rare and common hard-to-treat conditions.
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.
FDMT vs OPAL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $85.1M | $88.4M |
| Net Profit | $19.4M | $16.2M |
| Gross Margin | — | — |
| Operating Margin | 17.3% | 7.5% |
| Net Margin | 22.8% | 18.3% |
| Revenue YoY | 8508900.0% | 18.7% |
| Net Profit YoY | 139.1% | 401.5% |
| EPS (diluted) | $0.43 | $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 | $85.1M | $88.4M | ||
| Q3 25 | $90.0K | $77.9M | ||
| Q2 25 | $15.0K | $77.4M | ||
| Q1 25 | $14.0K | $83.0M | ||
| Q4 24 | $1.0K | $74.5M | ||
| Q3 24 | $3.0K | $82.6M | ||
| Q2 24 | $5.0K | $69.8M | ||
| Q1 24 | $28.0K | $64.0M |
| Q4 25 | $19.4M | $16.2M | ||
| Q3 25 | $-56.9M | $11.4M | ||
| Q2 25 | $-54.7M | $7.6M | ||
| Q1 25 | $-48.0M | $1.3M | ||
| Q4 24 | — | $-5.4M | ||
| Q3 24 | $-43.8M | $17.1M | ||
| Q2 24 | $-35.0M | $1.9M | ||
| Q1 24 | $-32.4M | $677.0K |
| Q4 25 | 17.3% | 7.5% | ||
| Q3 25 | -67983.3% | 4.6% | ||
| Q2 25 | -396373.3% | -1.1% | ||
| Q1 25 | -383007.1% | -2.3% | ||
| Q4 24 | — | -0.5% | ||
| Q3 24 | -1704400.0% | 14.9% | ||
| Q2 24 | -849120.0% | 8.1% | ||
| Q1 24 | -136200.0% | 5.6% |
| Q4 25 | 22.8% | 18.3% | ||
| Q3 25 | -63195.6% | 14.6% | ||
| Q2 25 | -364386.7% | 9.8% | ||
| Q1 25 | -342657.1% | 1.5% | ||
| Q4 24 | — | -7.2% | ||
| Q3 24 | -1461433.3% | 20.7% | ||
| Q2 24 | -699060.0% | 2.7% | ||
| Q1 24 | -115717.9% | 1.1% |
| Q4 25 | $0.43 | $0.08 | ||
| Q3 25 | $-1.01 | $0.05 | ||
| Q2 25 | $-0.98 | $0.03 | ||
| Q1 25 | $-0.86 | $-0.01 | ||
| Q4 24 | — | $-0.05 | ||
| Q3 24 | $-0.79 | $0.09 | ||
| Q2 24 | $-0.63 | $-0.01 | ||
| Q1 24 | $-0.66 | $-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 | $402.7M | $24.4M |
| Total DebtLower is stronger | — | $361.3M |
| Stockholders' EquityBook value | $505.7M | $-12.9M |
| Total Assets | $566.7M | $959.5M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $402.7M | $24.4M | ||
| Q3 25 | $305.1M | $29.9M | ||
| Q2 25 | $293.2M | $29.3M | ||
| Q1 25 | $321.4M | $40.1M | ||
| Q4 24 | $424.9M | $24.3M | ||
| Q3 24 | $501.9M | $31.0M | ||
| Q2 24 | $541.9M | $27.6M | ||
| Q1 24 | $525.9M | $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 | $505.7M | $-12.9M | ||
| Q3 25 | $369.0M | $7.5M | ||
| Q2 25 | $420.9M | $-25.0M | ||
| Q1 25 | $469.7M | $57.1M | ||
| Q4 24 | $510.6M | $-148.4M | ||
| Q3 24 | $552.9M | $-180.1M | ||
| Q2 24 | $588.3M | $-273.0M | ||
| Q1 24 | $600.6M | $-382.4M |
| Q4 25 | $566.7M | $959.5M | ||
| Q3 25 | $424.0M | $916.7M | ||
| Q2 25 | $473.6M | $905.5M | ||
| Q1 25 | $515.7M | $884.9M | ||
| Q4 24 | $560.4M | $881.1M | ||
| Q3 24 | $604.0M | $831.1M | ||
| Q2 24 | $620.1M | $782.3M | ||
| Q1 24 | $629.9M | $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 | $28.6M | $-3.5M |
| Free Cash FlowOCF − Capex | $28.5M | $-13.4M |
| FCF MarginFCF / Revenue | 33.5% | -15.1% |
| Capex IntensityCapex / Revenue | 0.1% | 11.1% |
| Cash ConversionOCF / Net Profit | 1.47× | -0.22× |
| TTM Free Cash FlowTrailing 4 quarters | $-109.9M | $-34.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $28.6M | $-3.5M | ||
| Q3 25 | $-46.5M | $18.2M | ||
| Q2 25 | $-43.4M | $-7.9M | ||
| Q1 25 | $-47.8M | $29.7M | ||
| Q4 24 | $-134.6M | $-532.0K | ||
| Q3 24 | $-29.4M | $17.7M | ||
| Q2 24 | $-30.2M | $533.0K | ||
| Q1 24 | $-29.1M | $13.7M |
| Q4 25 | $28.5M | $-13.4M | ||
| Q3 25 | $-46.6M | $-9.3M | ||
| Q2 25 | $-43.4M | $-29.7M | ||
| Q1 25 | $-48.4M | $18.1M | ||
| Q4 24 | $-138.4M | $-55.0M | ||
| Q3 24 | $-31.2M | $-5.4M | ||
| Q2 24 | $-30.6M | $-22.5M | ||
| Q1 24 | $-29.8M | $-13.0M |
| Q4 25 | 33.5% | -15.1% | ||
| Q3 25 | -51765.6% | -11.9% | ||
| Q2 25 | -289620.0% | -38.4% | ||
| Q1 25 | -345635.7% | 21.8% | ||
| Q4 24 | -13837100.0% | -73.8% | ||
| Q3 24 | -1038966.7% | -6.5% | ||
| Q2 24 | -611840.0% | -32.2% | ||
| Q1 24 | -106421.4% | -20.4% |
| Q4 25 | 0.1% | 11.1% | ||
| Q3 25 | 101.1% | 35.3% | ||
| Q2 25 | 440.0% | 28.2% | ||
| Q1 25 | 4507.1% | 13.9% | ||
| Q4 24 | 378600.0% | 73.1% | ||
| Q3 24 | 59266.7% | 27.9% | ||
| Q2 24 | 6980.0% | 32.9% | ||
| Q1 24 | 2535.7% | 41.8% |
| Q4 25 | 1.47× | -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
FDMT
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% |
