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Side-by-side financial comparison of Galiano Gold Inc. (GAU) and OPAL Fuels Inc. (OPAL). Click either name above to swap in a different company.

Galiano Gold Inc. is the larger business by last-quarter revenue ($166.8M vs $88.4M, roughly 1.9× OPAL Fuels Inc.). Over the past eight quarters, OPAL Fuels Inc.'s revenue compounded faster (17.6% CAGR vs 1.3%).

Galiano Gold Inc. is a Canada-based mineral exploration and production firm focused on gold assets. Its core operation is the Asanko Gold Mine in Ghana, West Africa. It extracts, processes and sells gold products to global precious metals markets, catering to both industrial clients and investment sector purchasers.

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.

GAU vs OPAL — Head-to-Head

Bigger by revenue
GAU
GAU
1.9× larger
GAU
$166.8M
$88.4M
OPAL
Faster 2-yr revenue CAGR
OPAL
OPAL
Annualised
OPAL
17.6%
1.3%
GAU

Income Statement — Q3 FY2025 vs Q4 FY2025

Metric
GAU
GAU
OPAL
OPAL
Revenue
$166.8M
$88.4M
Net Profit
$16.2M
Gross Margin
Operating Margin
24.3%
7.5%
Net Margin
18.3%
Revenue YoY
18.7%
Net Profit YoY
401.5%
EPS (diluted)
$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.

Revenue
GAU
GAU
OPAL
OPAL
Q4 25
$88.4M
Q3 25
$166.8M
$77.9M
Q2 25
$95.7M
$77.4M
Q1 25
$31.7M
$83.0M
Q4 24
$74.5M
Q3 24
$71.1M
$82.6M
Q2 24
$64.0M
$69.8M
Q1 24
$31.7M
$64.0M
Net Profit
GAU
GAU
OPAL
OPAL
Q4 25
$16.2M
Q3 25
$11.4M
Q2 25
$4.1M
$7.6M
Q1 25
$-3.2M
$1.3M
Q4 24
$-5.4M
Q3 24
$1.1M
$17.1M
Q2 24
$8.8M
$1.9M
Q1 24
$677.0K
Operating Margin
GAU
GAU
OPAL
OPAL
Q4 25
7.5%
Q3 25
24.3%
4.6%
Q2 25
18.4%
-1.1%
Q1 25
8.2%
-2.3%
Q4 24
-0.5%
Q3 24
14.9%
Q2 24
8.1%
Q1 24
17.2%
5.6%
Net Margin
GAU
GAU
OPAL
OPAL
Q4 25
18.3%
Q3 25
14.6%
Q2 25
4.3%
9.8%
Q1 25
-10.1%
1.5%
Q4 24
-7.2%
Q3 24
1.5%
20.7%
Q2 24
13.8%
2.7%
Q1 24
1.1%
EPS (diluted)
GAU
GAU
OPAL
OPAL
Q4 25
$0.08
Q3 25
$0.05
Q2 25
$0.03
Q1 25
$-0.01
Q4 24
$-0.05
Q3 24
$0.09
Q2 24
$-0.01
Q1 24
$-0.01

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
GAU
GAU
OPAL
OPAL
Cash + ST InvestmentsLiquidity on hand
$24.4M
Total DebtLower is stronger
$361.3M
Stockholders' EquityBook value
$-12.9M
Total Assets
$959.5M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
GAU
GAU
OPAL
OPAL
Q4 25
$24.4M
Q3 25
$29.9M
Q2 25
$29.3M
Q1 25
$40.1M
Q4 24
$24.3M
Q3 24
$31.0M
Q2 24
$27.6M
Q1 24
$34.2M
Total Debt
GAU
GAU
OPAL
OPAL
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
Stockholders' Equity
GAU
GAU
OPAL
OPAL
Q4 25
$-12.9M
Q3 25
$7.5M
Q2 25
$-25.0M
Q1 25
$57.1M
Q4 24
$-148.4M
Q3 24
$-180.1M
Q2 24
$-273.0M
Q1 24
$-382.4M
Total Assets
GAU
GAU
OPAL
OPAL
Q4 25
$959.5M
Q3 25
$916.7M
Q2 25
$905.5M
Q1 25
$884.9M
Q4 24
$881.1M
Q3 24
$831.1M
Q2 24
$782.3M
Q1 24
$750.5M
Debt / Equity
GAU
GAU
OPAL
OPAL
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
GAU
GAU
OPAL
OPAL
Operating Cash FlowLast quarter
$41.9M
$-3.5M
Free Cash FlowOCF − Capex
$-13.4M
FCF MarginFCF / Revenue
-15.1%
Capex IntensityCapex / Revenue
11.1%
Cash ConversionOCF / Net Profit
-0.22×
TTM Free Cash FlowTrailing 4 quarters
$-34.2M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
GAU
GAU
OPAL
OPAL
Q4 25
$-3.5M
Q3 25
$41.9M
$18.2M
Q2 25
$17.5M
$-7.9M
Q1 25
$13.0M
$29.7M
Q4 24
$-532.0K
Q3 24
$28.6M
$17.7M
Q2 24
$9.2M
$533.0K
Q1 24
$13.7M
Free Cash Flow
GAU
GAU
OPAL
OPAL
Q4 25
$-13.4M
Q3 25
$-9.3M
Q2 25
$-29.7M
Q1 25
$18.1M
Q4 24
$-55.0M
Q3 24
$-5.4M
Q2 24
$-22.5M
Q1 24
$-13.0M
FCF Margin
GAU
GAU
OPAL
OPAL
Q4 25
-15.1%
Q3 25
-11.9%
Q2 25
-38.4%
Q1 25
21.8%
Q4 24
-73.8%
Q3 24
-6.5%
Q2 24
-32.2%
Q1 24
-20.4%
Capex Intensity
GAU
GAU
OPAL
OPAL
Q4 25
11.1%
Q3 25
35.3%
Q2 25
28.2%
Q1 25
13.9%
Q4 24
73.1%
Q3 24
27.9%
Q2 24
32.9%
Q1 24
41.8%
Cash Conversion
GAU
GAU
OPAL
OPAL
Q4 25
-0.22×
Q3 25
1.60×
Q2 25
4.30×
-1.04×
Q1 25
23.11×
Q4 24
Q3 24
26.04×
1.03×
Q2 24
1.05×
0.28×
Q1 24
20.26×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

Revenue Breakdown by Segment

GAU
GAU

Segment breakdown not available.

OPAL
OPAL

Fuel Station Services Segment$65.1M74%
Related Party$12.1M14%
Renewable Power Segment$8.6M10%
Other$2.6M3%

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