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Side-by-side financial comparison of Honest Company, Inc. (HNST) 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 $78.1M, roughly 1.1× Honest Company, Inc.). On growth, OPAL Fuels Inc. posted the faster year-over-year revenue change (18.7% vs -19.7%). Over the past eight quarters, OPAL Fuels Inc.'s revenue compounded faster (17.6% CAGR vs -8.4%).
The Honest Company, Inc. is an American digital-first consumer goods company, based in Los Angeles and founded by actress Jessica Alba, Christopher Gavigan, and Brian Lee. The company had $319 million in 2021 sales, and was valued at roughly $550 million as of February 2022. Carla Vernón, Chief Executive Officer, is one of the first Afro-Latina CEOs of a U.S. publicly traded company. The Honest Company has raised multiple rounds of venture capital, and went public via an initial public offeri...
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.
HNST vs OPAL — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $78.1M | $88.4M |
| Net Profit | — | $16.2M |
| Gross Margin | 42.6% | — |
| Operating Margin | 56.6% | 7.5% |
| Net Margin | — | 18.3% |
| Revenue YoY | -19.7% | 18.7% |
| Net Profit YoY | — | 401.5% |
| EPS (diluted) | $0.00 | $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.
| Q1 26 | $78.1M | — | ||
| Q4 25 | $88.0M | $88.4M | ||
| Q3 25 | $92.6M | $77.9M | ||
| Q2 25 | $93.5M | $77.4M | ||
| Q1 25 | $97.3M | $83.0M | ||
| Q4 24 | $99.8M | $74.5M | ||
| Q3 24 | $99.2M | $82.6M | ||
| Q2 24 | $93.0M | $69.8M |
| Q1 26 | — | — | ||
| Q4 25 | $-23.6M | $16.2M | ||
| Q3 25 | $758.0K | $11.4M | ||
| Q2 25 | $3.9M | $7.6M | ||
| Q1 25 | $3.3M | $1.3M | ||
| Q4 24 | $-809.0K | $-5.4M | ||
| Q3 24 | $165.0K | $17.1M | ||
| Q2 24 | $-4.1M | $1.9M |
| Q1 26 | 42.6% | — | ||
| Q4 25 | 15.7% | — | ||
| Q3 25 | 37.3% | — | ||
| Q2 25 | 40.4% | — | ||
| Q1 25 | 38.7% | — | ||
| Q4 24 | 38.8% | — | ||
| Q3 24 | 38.7% | — | ||
| Q2 24 | 38.3% | — |
| Q1 26 | 56.6% | — | ||
| Q4 25 | -27.5% | 7.5% | ||
| Q3 25 | 0.3% | 4.6% | ||
| Q2 25 | 3.1% | -1.1% | ||
| Q1 25 | 2.6% | -2.3% | ||
| Q4 24 | -1.0% | -0.5% | ||
| Q3 24 | 0.1% | 14.9% | ||
| Q2 24 | -4.3% | 8.1% |
| Q1 26 | — | — | ||
| Q4 25 | -26.8% | 18.3% | ||
| Q3 25 | 0.8% | 14.6% | ||
| Q2 25 | 4.1% | 9.8% | ||
| Q1 25 | 3.3% | 1.5% | ||
| Q4 24 | -0.8% | -7.2% | ||
| Q3 24 | 0.2% | 20.7% | ||
| Q2 24 | -4.4% | 2.7% |
| Q1 26 | $0.00 | — | ||
| Q4 25 | $-0.21 | $0.08 | ||
| Q3 25 | $0.01 | $0.05 | ||
| Q2 25 | $0.03 | $0.03 | ||
| Q1 25 | $0.03 | $-0.01 | ||
| Q4 24 | $-0.01 | $-0.05 | ||
| Q3 24 | $0.00 | $0.09 | ||
| Q2 24 | $-0.04 | $-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 | $90.4M | $24.4M |
| Total DebtLower is stronger | — | $361.3M |
| Stockholders' EquityBook value | $169.1M | $-12.9M |
| Total Assets | $214.9M | $959.5M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $90.4M | — | ||
| Q4 25 | $89.6M | $24.4M | ||
| Q3 25 | $71.5M | $29.9M | ||
| Q2 25 | $72.1M | $29.3M | ||
| Q1 25 | $72.8M | $40.1M | ||
| Q4 24 | $75.4M | $24.3M | ||
| Q3 24 | $53.4M | $31.0M | ||
| Q2 24 | $36.6M | $27.6M |
| Q1 26 | — | — | ||
| 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 26 | $169.1M | — | ||
| Q4 25 | $169.7M | $-12.9M | ||
| Q3 25 | $190.2M | $7.5M | ||
| Q2 25 | $187.0M | $-25.0M | ||
| Q1 25 | $180.4M | $57.1M | ||
| Q4 24 | $174.3M | $-148.4M | ||
| Q3 24 | $133.9M | $-180.1M | ||
| Q2 24 | $129.7M | $-273.0M |
| Q1 26 | $214.9M | — | ||
| Q4 25 | $225.4M | $959.5M | ||
| Q3 25 | $241.5M | $916.7M | ||
| Q2 25 | $249.0M | $905.5M | ||
| Q1 25 | $265.3M | $884.9M | ||
| Q4 24 | $247.4M | $881.1M | ||
| Q3 24 | $209.2M | $831.1M | ||
| Q2 24 | $200.2M | $782.3M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 46.95× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 5.38× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 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 | — | $-3.5M |
| Free Cash FlowOCF − Capex | — | $-13.4M |
| FCF MarginFCF / Revenue | — | -15.1% |
| Capex IntensityCapex / Revenue | 0.6% | 11.1% |
| Cash ConversionOCF / Net Profit | — | -0.22× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-34.2M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $19.3M | $-3.5M | ||
| Q3 25 | $-504.0K | $18.2M | ||
| Q2 25 | $-745.0K | $-7.9M | ||
| Q1 25 | $-2.9M | $29.7M | ||
| Q4 24 | $-16.8M | $-532.0K | ||
| Q3 24 | $15.1M | $17.7M | ||
| Q2 24 | $2.9M | $533.0K |
| Q1 26 | — | — | ||
| Q4 25 | $18.1M | $-13.4M | ||
| Q3 25 | $-624.0K | $-9.3M | ||
| Q2 25 | $-826.0K | $-29.7M | ||
| Q1 25 | $-3.0M | $18.1M | ||
| Q4 24 | $-17.2M | $-55.0M | ||
| Q3 24 | $15.0M | $-5.4M | ||
| Q2 24 | $2.9M | $-22.5M |
| Q1 26 | — | — | ||
| Q4 25 | 20.5% | -15.1% | ||
| Q3 25 | -0.7% | -11.9% | ||
| Q2 25 | -0.9% | -38.4% | ||
| Q1 25 | -3.1% | 21.8% | ||
| Q4 24 | -17.2% | -73.8% | ||
| Q3 24 | 15.1% | -6.5% | ||
| Q2 24 | 3.1% | -32.2% |
| Q1 26 | 0.6% | — | ||
| Q4 25 | 1.4% | 11.1% | ||
| Q3 25 | 0.1% | 35.3% | ||
| Q2 25 | 0.1% | 28.2% | ||
| Q1 25 | 0.1% | 13.9% | ||
| Q4 24 | 0.3% | 73.1% | ||
| Q3 24 | 0.1% | 27.9% | ||
| Q2 24 | 0.0% | 32.9% |
| Q1 26 | — | — | ||
| Q4 25 | — | -0.22× | ||
| Q3 25 | -0.66× | 1.60× | ||
| Q2 25 | -0.19× | -1.04× | ||
| Q1 25 | -0.90× | 23.11× | ||
| Q4 24 | — | — | ||
| Q3 24 | 91.42× | 1.03× | ||
| Q2 24 | — | 0.28× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HNST
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% |
