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Side-by-side financial comparison of INSTEEL INDUSTRIES INC (IIIN) and OPAL Fuels Inc. (OPAL). Click either name above to swap in a different company.
INSTEEL INDUSTRIES INC is the larger business by last-quarter revenue ($159.9M vs $88.4M, roughly 1.8× OPAL Fuels Inc.). OPAL Fuels Inc. runs the higher net margin — 18.3% vs 4.7%, a 13.6% gap on every dollar of revenue. On growth, INSTEEL INDUSTRIES INC posted the faster year-over-year revenue change (23.3% vs 18.7%). INSTEEL INDUSTRIES INC produced more free cash flow last quarter ($-2.2M vs $-13.4M). Over the past eight quarters, OPAL Fuels Inc.'s revenue compounded faster (17.6% CAGR vs 12.0%).
Insteel Industries Inc is a leading U.S. manufacturer of steel reinforcing products including welded wire reinforcement and steel fibers. It primarily serves non-residential construction, infrastructure, and precast concrete segments across North America, delivering high-performance reinforcement solutions for various construction projects.
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.
IIIN vs OPAL — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $159.9M | $88.4M |
| Net Profit | $7.6M | $16.2M |
| Gross Margin | 11.3% | — |
| Operating Margin | 6.0% | 7.5% |
| Net Margin | 4.7% | 18.3% |
| Revenue YoY | 23.3% | 18.7% |
| Net Profit YoY | 602.4% | 401.5% |
| EPS (diluted) | $0.39 | $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 | $159.9M | $88.4M | ||
| Q3 25 | $177.4M | $77.9M | ||
| Q2 25 | $179.9M | $77.4M | ||
| Q1 25 | $160.7M | $83.0M | ||
| Q4 24 | $129.7M | $74.5M | ||
| Q3 24 | $134.3M | $82.6M | ||
| Q2 24 | $145.8M | $69.8M | ||
| Q1 24 | $127.4M | $64.0M |
| Q4 25 | $7.6M | $16.2M | ||
| Q3 25 | $14.6M | $11.4M | ||
| Q2 25 | $15.2M | $7.6M | ||
| Q1 25 | $10.2M | $1.3M | ||
| Q4 24 | $1.1M | $-5.4M | ||
| Q3 24 | $4.7M | $17.1M | ||
| Q2 24 | $6.6M | $1.9M | ||
| Q1 24 | $6.9M | $677.0K |
| Q4 25 | 11.3% | — | ||
| Q3 25 | 16.1% | — | ||
| Q2 25 | 17.1% | — | ||
| Q1 25 | 15.3% | — | ||
| Q4 24 | 7.3% | — | ||
| Q3 24 | 9.1% | — | ||
| Q2 24 | 10.6% | — | ||
| Q1 24 | 12.3% | — |
| Q4 25 | 6.0% | 7.5% | ||
| Q3 25 | 10.8% | 4.6% | ||
| Q2 25 | 11.0% | -1.1% | ||
| Q1 25 | 8.3% | -2.3% | ||
| Q4 24 | 1.1% | -0.5% | ||
| Q3 24 | 4.5% | 14.9% | ||
| Q2 24 | 6.0% | 8.1% | ||
| Q1 24 | 7.0% | 5.6% |
| Q4 25 | 4.7% | 18.3% | ||
| Q3 25 | 8.2% | 14.6% | ||
| Q2 25 | 8.4% | 9.8% | ||
| Q1 25 | 6.4% | 1.5% | ||
| Q4 24 | 0.8% | -7.2% | ||
| Q3 24 | 3.5% | 20.7% | ||
| Q2 24 | 4.5% | 2.7% | ||
| Q1 24 | 5.4% | 1.1% |
| Q4 25 | $0.39 | $0.08 | ||
| Q3 25 | $0.74 | $0.05 | ||
| Q2 25 | $0.78 | $0.03 | ||
| Q1 25 | $0.52 | $-0.01 | ||
| Q4 24 | $0.06 | $-0.05 | ||
| Q3 24 | $0.24 | $0.09 | ||
| Q2 24 | $0.34 | $-0.01 | ||
| Q1 24 | $0.35 | $-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 | $15.6M | $24.4M |
| Total DebtLower is stronger | — | $361.3M |
| Stockholders' EquityBook value | $358.8M | $-12.9M |
| Total Assets | $456.1M | $959.5M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $15.6M | $24.4M | ||
| Q3 25 | $38.6M | $29.9M | ||
| Q2 25 | $53.7M | $29.3M | ||
| Q1 25 | $28.4M | $40.1M | ||
| Q4 24 | $36.0M | $24.3M | ||
| Q3 24 | $111.5M | $31.0M | ||
| Q2 24 | $97.7M | $27.6M | ||
| Q1 24 | $83.9M | $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 | $358.8M | $-12.9M | ||
| Q3 25 | $371.5M | $7.5M | ||
| Q2 25 | $356.2M | $-25.0M | ||
| Q1 25 | $341.4M | $57.1M | ||
| Q4 24 | $331.6M | $-148.4M | ||
| Q3 24 | $350.9M | $-180.1M | ||
| Q2 24 | $346.0M | $-273.0M | ||
| Q1 24 | $340.6M | $-382.4M |
| Q4 25 | $456.1M | $959.5M | ||
| Q3 25 | $462.6M | $916.7M | ||
| Q2 25 | $471.9M | $905.5M | ||
| Q1 25 | $421.9M | $884.9M | ||
| Q4 24 | $404.7M | $881.1M | ||
| Q3 24 | $422.6M | $831.1M | ||
| Q2 24 | $414.6M | $782.3M | ||
| Q1 24 | $397.2M | $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 | $-701.0K | $-3.5M |
| Free Cash FlowOCF − Capex | $-2.2M | $-13.4M |
| FCF MarginFCF / Revenue | -1.4% | -15.1% |
| Capex IntensityCapex / Revenue | 0.9% | 11.1% |
| Cash ConversionOCF / Net Profit | -0.09× | -0.22× |
| TTM Free Cash FlowTrailing 4 quarters | $439.0K | $-34.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-701.0K | $-3.5M | ||
| Q3 25 | $-17.0M | $18.2M | ||
| Q2 25 | $28.5M | $-7.9M | ||
| Q1 25 | $-3.3M | $29.7M | ||
| Q4 24 | $19.0M | $-532.0K | ||
| Q3 24 | $16.2M | $17.7M | ||
| Q2 24 | $18.8M | $533.0K | ||
| Q1 24 | $1.4M | $13.7M |
| Q4 25 | $-2.2M | $-13.4M | ||
| Q3 25 | $-18.7M | $-9.3M | ||
| Q2 25 | $26.9M | $-29.7M | ||
| Q1 25 | $-5.5M | $18.1M | ||
| Q4 24 | $16.3M | $-55.0M | ||
| Q3 24 | $14.5M | $-5.4M | ||
| Q2 24 | $15.5M | $-22.5M | ||
| Q1 24 | $-580.0K | $-13.0M |
| Q4 25 | -1.4% | -15.1% | ||
| Q3 25 | -10.6% | -11.9% | ||
| Q2 25 | 15.0% | -38.4% | ||
| Q1 25 | -3.5% | 21.8% | ||
| Q4 24 | 12.6% | -73.8% | ||
| Q3 24 | 10.8% | -6.5% | ||
| Q2 24 | 10.7% | -32.2% | ||
| Q1 24 | -0.5% | -20.4% |
| Q4 25 | 0.9% | 11.1% | ||
| Q3 25 | 1.0% | 35.3% | ||
| Q2 25 | 0.9% | 28.2% | ||
| Q1 25 | 1.4% | 13.9% | ||
| Q4 24 | 2.1% | 73.1% | ||
| Q3 24 | 1.3% | 27.9% | ||
| Q2 24 | 2.2% | 32.9% | ||
| Q1 24 | 1.5% | 41.8% |
| Q4 25 | -0.09× | -0.22× | ||
| Q3 25 | -1.17× | 1.60× | ||
| Q2 25 | 1.88× | -1.04× | ||
| Q1 25 | -0.32× | 23.11× | ||
| Q4 24 | 17.56× | — | ||
| Q3 24 | 3.48× | 1.03× | ||
| Q2 24 | 2.86× | 0.28× | ||
| Q1 24 | 0.20× | 20.26× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
IIIN
| Welded Wire Reinforcement | $108.4M | 68% |
| PC Strand | $51.6M | 32% |
OPAL
| Fuel Station Services Segment | $65.1M | 74% |
| Related Party | $12.1M | 14% |
| Renewable Power Segment | $8.6M | 10% |
| Other | $2.6M | 3% |
