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Side-by-side financial comparison of IMAX CORP (IMAX) and OPAL Fuels Inc. (OPAL). Click either name above to swap in a different company.
IMAX CORP is the larger business by last-quarter revenue ($125.2M vs $88.4M, roughly 1.4× OPAL Fuels Inc.). OPAL Fuels Inc. runs the higher net margin — 18.3% vs 0.5%, a 17.8% gap on every dollar of revenue. On growth, IMAX CORP posted the faster year-over-year revenue change (35.1% vs 18.7%). IMAX CORP produced more free cash flow last quarter ($28.0M vs $-13.4M). Over the past eight quarters, IMAX CORP's revenue compounded faster (25.8% CAGR vs 17.6%).
IMAX Corporation is a Canadian production theatre company which designs and manufactures IMAX cameras and projection systems as well as performing film development, production, post-production and distribution to IMAX-affiliated theatres worldwide. Founded in Montreal in 1967, it has headquarters in the Toronto area, and operations in New York City and Los Angeles.
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.
IMAX vs OPAL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $125.2M | $88.4M |
| Net Profit | $637.0K | $16.2M |
| Gross Margin | 57.6% | — |
| Operating Margin | 19.3% | 7.5% |
| Net Margin | 0.5% | 18.3% |
| Revenue YoY | 35.1% | 18.7% |
| Net Profit YoY | -88.0% | 401.5% |
| EPS (diluted) | $0.02 | $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 | $125.2M | $88.4M | ||
| Q3 25 | $106.7M | $77.9M | ||
| Q2 25 | $91.7M | $77.4M | ||
| Q1 25 | $86.7M | $83.0M | ||
| Q4 24 | $92.7M | $74.5M | ||
| Q3 24 | $91.5M | $82.6M | ||
| Q2 24 | $89.0M | $69.8M | ||
| Q1 24 | $79.1M | $64.0M |
| Q4 25 | $637.0K | $16.2M | ||
| Q3 25 | $20.7M | $11.4M | ||
| Q2 25 | $11.3M | $7.6M | ||
| Q1 25 | $2.3M | $1.3M | ||
| Q4 24 | $5.3M | $-5.4M | ||
| Q3 24 | $13.9M | $17.1M | ||
| Q2 24 | $3.6M | $1.9M | ||
| Q1 24 | $3.3M | $677.0K |
| Q4 25 | 57.6% | — | ||
| Q3 25 | 63.1% | — | ||
| Q2 25 | 58.5% | — | ||
| Q1 25 | 61.4% | — | ||
| Q4 24 | 52.2% | — | ||
| Q3 24 | 55.8% | — | ||
| Q2 24 | 49.4% | — | ||
| Q1 24 | 59.3% | — |
| Q4 25 | 19.3% | 7.5% | ||
| Q3 25 | 27.2% | 4.6% | ||
| Q2 25 | 15.6% | -1.1% | ||
| Q1 25 | 19.3% | -2.3% | ||
| Q4 24 | 10.3% | -0.5% | ||
| Q3 24 | 21.2% | 14.9% | ||
| Q2 24 | 3.2% | 8.1% | ||
| Q1 24 | 15.3% | 5.6% |
| Q4 25 | 0.5% | 18.3% | ||
| Q3 25 | 19.4% | 14.6% | ||
| Q2 25 | 12.3% | 9.8% | ||
| Q1 25 | 2.7% | 1.5% | ||
| Q4 24 | 5.7% | -7.2% | ||
| Q3 24 | 15.2% | 20.7% | ||
| Q2 24 | 4.0% | 2.7% | ||
| Q1 24 | 4.1% | 1.1% |
| Q4 25 | $0.02 | $0.08 | ||
| Q3 25 | $0.37 | $0.05 | ||
| Q2 25 | $0.20 | $0.03 | ||
| Q1 25 | $0.04 | $-0.01 | ||
| Q4 24 | $0.09 | $-0.05 | ||
| Q3 24 | $0.26 | $0.09 | ||
| Q2 24 | $0.07 | $-0.01 | ||
| Q1 24 | $0.06 | $-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 | $151.2M | $24.4M |
| Total DebtLower is stronger | — | $361.3M |
| Stockholders' EquityBook value | $337.9M | $-12.9M |
| Total Assets | $894.0M | $959.5M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $151.2M | $24.4M | ||
| Q3 25 | $143.1M | $29.9M | ||
| Q2 25 | $109.3M | $29.3M | ||
| Q1 25 | $97.1M | $40.1M | ||
| Q4 24 | $100.6M | $24.3M | ||
| Q3 24 | $104.5M | $31.0M | ||
| Q2 24 | $91.6M | $27.6M | ||
| Q1 24 | $81.0M | $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 | $337.9M | $-12.9M | ||
| Q3 25 | $349.5M | $7.5M | ||
| Q2 25 | $320.4M | $-25.0M | ||
| Q1 25 | $299.5M | $57.1M | ||
| Q4 24 | $299.5M | $-148.4M | ||
| Q3 24 | $289.4M | $-180.1M | ||
| Q2 24 | $267.2M | $-273.0M | ||
| Q1 24 | $258.8M | $-382.4M |
| Q4 25 | $894.0M | $959.5M | ||
| Q3 25 | $889.6M | $916.7M | ||
| Q2 25 | $868.6M | $905.5M | ||
| Q1 25 | $848.3M | $884.9M | ||
| Q4 24 | $830.4M | $881.1M | ||
| Q3 24 | $847.6M | $831.1M | ||
| Q2 24 | $827.4M | $782.3M | ||
| Q1 24 | $824.1M | $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 | $29.4M | $-3.5M |
| Free Cash FlowOCF − Capex | $28.0M | $-13.4M |
| FCF MarginFCF / Revenue | 22.3% | -15.1% |
| Capex IntensityCapex / Revenue | 1.1% | 11.1% |
| Cash ConversionOCF / Net Profit | 46.11× | -0.22× |
| TTM Free Cash FlowTrailing 4 quarters | $118.9M | $-34.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $29.4M | $-3.5M | ||
| Q3 25 | $67.5M | $18.2M | ||
| Q2 25 | $23.2M | $-7.9M | ||
| Q1 25 | $7.0M | $29.7M | ||
| Q4 24 | $11.5M | $-532.0K | ||
| Q3 24 | $35.3M | $17.7M | ||
| Q2 24 | $35.0M | $533.0K | ||
| Q1 24 | $-11.0M | $13.7M |
| Q4 25 | $28.0M | $-13.4M | ||
| Q3 25 | $64.8M | $-9.3M | ||
| Q2 25 | $20.9M | $-29.7M | ||
| Q1 25 | $5.3M | $18.1M | ||
| Q4 24 | $6.9M | $-55.0M | ||
| Q3 24 | $34.2M | $-5.4M | ||
| Q2 24 | $33.5M | $-22.5M | ||
| Q1 24 | $-12.1M | $-13.0M |
| Q4 25 | 22.3% | -15.1% | ||
| Q3 25 | 60.7% | -11.9% | ||
| Q2 25 | 22.8% | -38.4% | ||
| Q1 25 | 6.1% | 21.8% | ||
| Q4 24 | 7.4% | -73.8% | ||
| Q3 24 | 37.3% | -6.5% | ||
| Q2 24 | 37.6% | -32.2% | ||
| Q1 24 | -15.3% | -20.4% |
| Q4 25 | 1.1% | 11.1% | ||
| Q3 25 | 2.6% | 35.3% | ||
| Q2 25 | 2.6% | 28.2% | ||
| Q1 25 | 1.9% | 13.9% | ||
| Q4 24 | 5.0% | 73.1% | ||
| Q3 24 | 1.2% | 27.9% | ||
| Q2 24 | 1.8% | 32.9% | ||
| Q1 24 | 1.4% | 41.8% |
| Q4 25 | 46.11× | -0.22× | ||
| Q3 25 | 3.27× | 1.60× | ||
| Q2 25 | 2.06× | -1.04× | ||
| Q1 25 | 2.99× | 23.11× | ||
| Q4 24 | 2.16× | — | ||
| Q3 24 | 2.54× | 1.03× | ||
| Q2 24 | 9.78× | 0.28× | ||
| Q1 24 | -3.35× | 20.26× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
IMAX
| Technology Sales | $46.6M | 37% |
| Image Enhancement And Maintenance Services | $38.1M | 30% |
| Joint Revenue Sharing Arrangement | $20.4M | 16% |
| Maintenance | $16.3M | 13% |
| Finance Income | $2.8M | 2% |
| Other Content Solutions | $1.6M | 1% |
OPAL
| Fuel Station Services Segment | $65.1M | 74% |
| Related Party | $12.1M | 14% |
| Renewable Power Segment | $8.6M | 10% |
| Other | $2.6M | 3% |
