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Side-by-side financial comparison of Gevo, Inc. (GEVO) 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 $45.3M, roughly 1.9× Gevo, Inc.). OPAL Fuels Inc. runs the higher net margin — 18.3% vs -13.2%, a 31.6% gap on every dollar of revenue. On growth, Gevo, Inc. posted the faster year-over-year revenue change (695.6% vs 18.7%). Gevo, Inc. produced more free cash flow last quarter ($8.7M vs $-13.4M). Over the past eight quarters, Gevo, Inc.'s revenue compounded faster (237.1% CAGR vs 17.6%).
Gevo, Inc. is an American renewable chemicals and advanced biofuels company headquartered in unincorporated Douglas County, Colorado, in the Denver-Aurora metropolitan area. Gevo operates in the sustainability sector, pursuing a business model based on the concept of the "circular economy". The company develops bio-based alternatives to petroleum-based products using a combination of biotechnology and classical chemistry. Gevo uses the GREET model from Argonne National Laboratory as a basis f...
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.
GEVO vs OPAL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $45.3M | $88.4M |
| Net Profit | $-6.0M | $16.2M |
| Gross Margin | — | — |
| Operating Margin | -4.8% | 7.5% |
| Net Margin | -13.2% | 18.3% |
| Revenue YoY | 695.6% | 18.7% |
| Net Profit YoY | 65.9% | 401.5% |
| EPS (diluted) | $-0.03 | $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 | $45.3M | $88.4M | ||
| Q3 25 | $42.7M | $77.9M | ||
| Q2 25 | $43.4M | $77.4M | ||
| Q1 25 | $29.1M | $83.0M | ||
| Q4 24 | $5.7M | $74.5M | ||
| Q3 24 | $2.0M | $82.6M | ||
| Q2 24 | $5.3M | $69.8M | ||
| Q1 24 | $4.0M | $64.0M |
| Q4 25 | $-6.0M | $16.2M | ||
| Q3 25 | $-8.0M | $11.4M | ||
| Q2 25 | $2.1M | $7.6M | ||
| Q1 25 | $-21.7M | $1.3M | ||
| Q4 24 | $-17.6M | $-5.4M | ||
| Q3 24 | $-21.2M | $17.1M | ||
| Q2 24 | $-21.0M | $1.9M | ||
| Q1 24 | $-18.9M | $677.0K |
| Q4 25 | -4.8% | 7.5% | ||
| Q3 25 | -8.6% | 4.6% | ||
| Q2 25 | 13.4% | -1.1% | ||
| Q1 25 | -69.2% | -2.3% | ||
| Q4 24 | -344.7% | -0.5% | ||
| Q3 24 | -1221.8% | 14.9% | ||
| Q2 24 | -456.8% | 8.1% | ||
| Q1 24 | -580.0% | 5.6% |
| Q4 25 | -13.2% | 18.3% | ||
| Q3 25 | -18.6% | 14.6% | ||
| Q2 25 | 4.9% | 9.8% | ||
| Q1 25 | -74.6% | 1.5% | ||
| Q4 24 | -308.9% | -7.2% | ||
| Q3 24 | -1076.6% | 20.7% | ||
| Q2 24 | -399.3% | 2.7% | ||
| Q1 24 | -473.1% | 1.1% |
| Q4 25 | $-0.03 | $0.08 | ||
| Q3 25 | $-0.03 | $0.05 | ||
| Q2 25 | $0.01 | $0.03 | ||
| Q1 25 | $-0.09 | $-0.01 | ||
| Q4 24 | $-0.08 | $-0.05 | ||
| Q3 24 | $-0.09 | $0.09 | ||
| Q2 24 | $-0.09 | $-0.01 | ||
| Q1 24 | $-0.08 | $-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 | $81.2M | $24.4M |
| Total DebtLower is stronger | $164.8M | $361.3M |
| Stockholders' EquityBook value | $466.3M | $-12.9M |
| Total Assets | $718.9M | $959.5M |
| Debt / EquityLower = less leverage | 0.35× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $81.2M | $24.4M | ||
| Q3 25 | $72.6M | $29.9M | ||
| Q2 25 | $57.3M | $29.3M | ||
| Q1 25 | $65.3M | $40.1M | ||
| Q4 24 | $189.4M | $24.3M | ||
| Q3 24 | $223.2M | $31.0M | ||
| Q2 24 | $245.7M | $27.6M | ||
| Q1 24 | $270.6M | $34.2M |
| Q4 25 | $164.8M | $361.3M | ||
| Q3 25 | $164.5M | $351.2M | ||
| Q2 25 | $167.5M | $331.6M | ||
| Q1 25 | $167.0M | $307.0M | ||
| Q4 24 | $67.1M | $307.5M | ||
| Q3 24 | $67.0M | $252.9M | ||
| Q2 24 | $66.8M | $233.3M | ||
| Q1 24 | $68.3M | $208.7M |
| Q4 25 | $466.3M | $-12.9M | ||
| Q3 25 | $468.9M | $7.5M | ||
| Q2 25 | $474.1M | $-25.0M | ||
| Q1 25 | $469.8M | $57.1M | ||
| Q4 24 | $489.5M | $-148.4M | ||
| Q3 24 | $504.7M | $-180.1M | ||
| Q2 24 | $522.7M | $-273.0M | ||
| Q1 24 | $541.9M | $-382.4M |
| Q4 25 | $718.9M | $959.5M | ||
| Q3 25 | $685.2M | $916.7M | ||
| Q2 25 | $702.1M | $905.5M | ||
| Q1 25 | $677.8M | $884.9M | ||
| Q4 24 | $583.9M | $881.1M | ||
| Q3 24 | $583.9M | $831.1M | ||
| Q2 24 | $617.9M | $782.3M | ||
| Q1 24 | $633.6M | $750.5M |
| Q4 25 | 0.35× | — | ||
| Q3 25 | 0.35× | 46.95× | ||
| Q2 25 | 0.35× | — | ||
| Q1 25 | 0.36× | 5.38× | ||
| Q4 24 | 0.14× | — | ||
| Q3 24 | 0.13× | — | ||
| Q2 24 | 0.13× | — | ||
| Q1 24 | 0.13× | — |
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 | $20.0M | $-3.5M |
| Free Cash FlowOCF − Capex | $8.7M | $-13.4M |
| FCF MarginFCF / Revenue | 19.3% | -15.1% |
| Capex IntensityCapex / Revenue | 24.7% | 11.1% |
| Cash ConversionOCF / Net Profit | — | -0.22× |
| TTM Free Cash FlowTrailing 4 quarters | $-43.5M | $-34.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $20.0M | $-3.5M | ||
| Q3 25 | $-6.8M | $18.2M | ||
| Q2 25 | $-2.5M | $-7.9M | ||
| Q1 25 | $-24.0M | $29.7M | ||
| Q4 24 | $-18.8M | $-532.0K | ||
| Q3 24 | $-11.0M | $17.7M | ||
| Q2 24 | $-11.4M | $533.0K | ||
| Q1 24 | $-16.1M | $13.7M |
| Q4 25 | $8.7M | $-13.4M | ||
| Q3 25 | $-14.6M | $-9.3M | ||
| Q2 25 | $-7.8M | $-29.7M | ||
| Q1 25 | $-29.9M | $18.1M | ||
| Q4 24 | $-33.5M | $-55.0M | ||
| Q3 24 | $-20.8M | $-5.4M | ||
| Q2 24 | $-20.6M | $-22.5M | ||
| Q1 24 | $-33.6M | $-13.0M |
| Q4 25 | 19.3% | -15.1% | ||
| Q3 25 | -34.2% | -11.9% | ||
| Q2 25 | -17.9% | -38.4% | ||
| Q1 25 | -102.7% | 21.8% | ||
| Q4 24 | -587.2% | -73.8% | ||
| Q3 24 | -1057.0% | -6.5% | ||
| Q2 24 | -392.4% | -32.2% | ||
| Q1 24 | -841.9% | -20.4% |
| Q4 25 | 24.7% | 11.1% | ||
| Q3 25 | 18.3% | 35.3% | ||
| Q2 25 | 12.1% | 28.2% | ||
| Q1 25 | 20.0% | 13.9% | ||
| Q4 24 | 256.6% | 73.1% | ||
| Q3 24 | 496.2% | 27.9% | ||
| Q2 24 | 174.8% | 32.9% | ||
| Q1 24 | 438.9% | 41.8% |
| Q4 25 | — | -0.22× | ||
| Q3 25 | — | 1.60× | ||
| Q2 25 | -1.18× | -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
GEVO
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% |
