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Side-by-side financial comparison of iQSTEL Inc (IQST) 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 $84.2M, roughly 1.0× iQSTEL Inc). OPAL Fuels Inc. runs the higher net margin — 18.3% vs -3.2%, a 21.5% gap on every dollar of revenue. On growth, OPAL Fuels Inc. posted the faster year-over-year revenue change (18.7% vs -14.9%). iQSTEL Inc produced more free cash flow last quarter ($-1.2M vs $-13.4M). Over the past eight quarters, iQSTEL Inc's revenue compounded faster (28.0% CAGR vs 17.6%).
iQSTEL Inc is a technology holding company operating three core segments: telecommunications, Internet of Things (IoT), and fintech. It offers connectivity services, smart IoT monitoring solutions, and digital financial tools, mainly serving small and medium-sized enterprises and retail customers in North and South American markets.
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.
IQST vs OPAL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $84.2M | $88.4M |
| Net Profit | $-2.7M | $16.2M |
| Gross Margin | 3.5% | — |
| Operating Margin | -2.9% | 7.5% |
| Net Margin | -3.2% | 18.3% |
| Revenue YoY | -14.9% | 18.7% |
| Net Profit YoY | -44.5% | 401.5% |
| EPS (diluted) | $-0.92 | $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 | $84.2M | $88.4M | ||
| Q3 25 | $102.9M | $77.9M | ||
| Q2 25 | $72.2M | $77.4M | ||
| Q1 25 | $57.6M | $83.0M | ||
| Q4 24 | $98.9M | $74.5M | ||
| Q3 24 | $54.2M | $82.6M | ||
| Q2 24 | $78.6M | $69.8M | ||
| Q1 24 | $51.4M | $64.0M |
| Q4 25 | $-2.7M | $16.2M | ||
| Q3 25 | $-2.3M | $11.4M | ||
| Q2 25 | $-2.3M | $7.6M | ||
| Q1 25 | $-1.1M | $1.3M | ||
| Q4 24 | $-1.9M | $-5.4M | ||
| Q3 24 | $-773.0K | $17.1M | ||
| Q2 24 | $-2.0M | $1.9M | ||
| Q1 24 | $-580.2K | $677.0K |
| Q4 25 | 3.5% | — | ||
| Q3 25 | 2.7% | — | ||
| Q2 25 | 2.6% | — | ||
| Q1 25 | 3.4% | — | ||
| Q4 24 | 2.7% | — | ||
| Q3 24 | 3.7% | — | ||
| Q2 24 | 2.8% | — | ||
| Q1 24 | 2.7% | — |
| Q4 25 | -2.9% | 7.5% | ||
| Q3 25 | -0.5% | 4.6% | ||
| Q2 25 | -0.9% | -1.1% | ||
| Q1 25 | -1.0% | -2.3% | ||
| Q4 24 | -0.3% | -0.5% | ||
| Q3 24 | -0.1% | 14.9% | ||
| Q2 24 | -0.4% | 8.1% | ||
| Q1 24 | -0.4% | 5.6% |
| Q4 25 | -3.2% | 18.3% | ||
| Q3 25 | -2.3% | 14.6% | ||
| Q2 25 | -3.3% | 9.8% | ||
| Q1 25 | -2.0% | 1.5% | ||
| Q4 24 | -1.9% | -7.2% | ||
| Q3 24 | -1.4% | 20.7% | ||
| Q2 24 | -2.5% | 2.7% | ||
| Q1 24 | -1.1% | 1.1% |
| Q4 25 | $-0.92 | $0.08 | ||
| Q3 25 | $-0.68 | $0.05 | ||
| Q2 25 | $-0.82 | $0.03 | ||
| Q1 25 | $-0.44 | $-0.01 | ||
| Q4 24 | $-1.19 | $-0.05 | ||
| Q3 24 | $-0.40 | $0.09 | ||
| Q2 24 | $-0.90 | $-0.01 | ||
| Q1 24 | $-0.37 | $-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 | $2.2M | $24.4M |
| Total DebtLower is stronger | $4.1M | $361.3M |
| Stockholders' EquityBook value | $16.3M | $-12.9M |
| Total Assets | $51.1M | $959.5M |
| Debt / EquityLower = less leverage | 0.25× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.2M | $24.4M | ||
| Q3 25 | $2.3M | $29.9M | ||
| Q2 25 | $2.0M | $29.3M | ||
| Q1 25 | $1.1M | $40.1M | ||
| Q4 24 | $2.5M | $24.3M | ||
| Q3 24 | $2.1M | $31.0M | ||
| Q2 24 | $797.2K | $27.6M | ||
| Q1 24 | $2.7M | $34.2M |
| Q4 25 | $4.1M | $361.3M | ||
| Q3 25 | $2.7M | $351.2M | ||
| Q2 25 | $4.5M | $331.6M | ||
| Q1 25 | $3.5M | $307.0M | ||
| Q4 24 | $2.5M | $307.5M | ||
| Q3 24 | $3.2M | $252.9M | ||
| Q2 24 | $2.5M | $233.3M | ||
| Q1 24 | $194.0K | $208.7M |
| Q4 25 | $16.3M | $-12.9M | ||
| Q3 25 | $17.9M | $7.5M | ||
| Q2 25 | $14.3M | $-25.0M | ||
| Q1 25 | $11.6M | $57.1M | ||
| Q4 24 | $11.9M | $-148.4M | ||
| Q3 24 | $8.1M | $-180.1M | ||
| Q2 24 | $7.6M | $-273.0M | ||
| Q1 24 | $8.4M | $-382.4M |
| Q4 25 | $51.1M | $959.5M | ||
| Q3 25 | $46.9M | $916.7M | ||
| Q2 25 | $51.4M | $905.5M | ||
| Q1 25 | $42.0M | $884.9M | ||
| Q4 24 | $79.0M | $881.1M | ||
| Q3 24 | $32.4M | $831.1M | ||
| Q2 24 | $30.0M | $782.3M | ||
| Q1 24 | $22.1M | $750.5M |
| Q4 25 | 0.25× | — | ||
| Q3 25 | 0.15× | 46.95× | ||
| Q2 25 | 0.31× | — | ||
| Q1 25 | 0.31× | 5.38× | ||
| Q4 24 | 0.21× | — | ||
| Q3 24 | 0.40× | — | ||
| Q2 24 | 0.34× | — | ||
| Q1 24 | 0.02× | — |
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 | $-1.2M | $-3.5M |
| Free Cash FlowOCF − Capex | $-1.2M | $-13.4M |
| FCF MarginFCF / Revenue | -1.5% | -15.1% |
| Capex IntensityCapex / Revenue | 0.0% | 11.1% |
| Cash ConversionOCF / Net Profit | — | -0.22× |
| TTM Free Cash FlowTrailing 4 quarters | $-4.0M | $-34.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-1.2M | $-3.5M | ||
| Q3 25 | $-953.0K | $18.2M | ||
| Q2 25 | $257.7K | $-7.9M | ||
| Q1 25 | $-1.9M | $29.7M | ||
| Q4 24 | $-403.7K | $-532.0K | ||
| Q3 24 | $625.0K | $17.7M | ||
| Q2 24 | $-2.6M | $533.0K | ||
| Q1 24 | $-536.9K | $13.7M |
| Q4 25 | $-1.2M | $-13.4M | ||
| Q3 25 | $-969.2K | $-9.3M | ||
| Q2 25 | $211.7K | $-29.7M | ||
| Q1 25 | $-2.0M | $18.1M | ||
| Q4 24 | $-421.3K | $-55.0M | ||
| Q3 24 | $594.5K | $-5.4M | ||
| Q2 24 | $-2.6M | $-22.5M | ||
| Q1 24 | $-608.5K | $-13.0M |
| Q4 25 | -1.5% | -15.1% | ||
| Q3 25 | -0.9% | -11.9% | ||
| Q2 25 | 0.3% | -38.4% | ||
| Q1 25 | -3.4% | 21.8% | ||
| Q4 24 | -0.4% | -73.8% | ||
| Q3 24 | 1.1% | -6.5% | ||
| Q2 24 | -3.4% | -32.2% | ||
| Q1 24 | -1.2% | -20.4% |
| Q4 25 | 0.0% | 11.1% | ||
| Q3 25 | 0.0% | 35.3% | ||
| Q2 25 | 0.1% | 28.2% | ||
| Q1 25 | 0.1% | 13.9% | ||
| Q4 24 | 0.0% | 73.1% | ||
| Q3 24 | 0.1% | 27.9% | ||
| Q2 24 | 0.0% | 32.9% | ||
| Q1 24 | 0.1% | 41.8% |
| Q4 25 | — | -0.22× | ||
| Q3 25 | — | 1.60× | ||
| Q2 25 | — | -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
IQST
| USA | $53.2M | 63% |
| Other | $29.9M | 35% |
| Switzerland | $1.1M | 1% |
OPAL
| Fuel Station Services Segment | $65.1M | 74% |
| Related Party | $12.1M | 14% |
| Renewable Power Segment | $8.6M | 10% |
| Other | $2.6M | 3% |
