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Side-by-side financial comparison of James River Group Holdings, Inc. (JRVR) and OPAL Fuels Inc. (OPAL). Click either name above to swap in a different company.
James River Group Holdings, Inc. is the larger business by last-quarter revenue ($167.7M vs $88.4M, roughly 1.9× OPAL Fuels Inc.). James River Group Holdings, Inc. runs the higher net margin — 19.1% vs 18.3%, a 0.8% gap on every dollar of revenue. On growth, James River Group Holdings, Inc. posted the faster year-over-year revenue change (32.4% vs 18.7%). OPAL Fuels Inc. produced more free cash flow last quarter ($-13.4M vs $-23.6M). Over the past eight quarters, OPAL Fuels Inc.'s revenue compounded faster (17.6% CAGR vs -8.7%).
James River Corporation was an American pulp and paper company based in Richmond, Virginia, once the largest paper manufacturer in the world.
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.
JRVR vs OPAL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $167.7M | $88.4M |
| Net Profit | $32.1M | $16.2M |
| Gross Margin | — | — |
| Operating Margin | 14.6% | 7.5% |
| Net Margin | 19.1% | 18.3% |
| Revenue YoY | 32.4% | 18.7% |
| Net Profit YoY | 149.5% | 401.5% |
| EPS (diluted) | $0.59 | $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 | $167.7M | $88.4M | ||
| Q3 25 | $172.7M | $77.9M | ||
| Q2 25 | $174.8M | $77.4M | ||
| Q1 25 | $172.3M | $83.0M | ||
| Q4 24 | $126.7M | $74.5M | ||
| Q3 24 | $191.5M | $82.6M | ||
| Q2 24 | $188.3M | $69.8M | ||
| Q1 24 | $201.1M | $64.0M |
| Q4 25 | $32.1M | $16.2M | ||
| Q3 25 | $1.0M | $11.4M | ||
| Q2 25 | $4.8M | $7.6M | ||
| Q1 25 | $9.6M | $1.3M | ||
| Q4 24 | $-64.8M | $-5.4M | ||
| Q3 24 | $-39.4M | $17.1M | ||
| Q2 24 | $7.6M | $1.9M | ||
| Q1 24 | $15.4M | $677.0K |
| Q4 25 | 14.6% | 7.5% | ||
| Q3 25 | 1.5% | 4.6% | ||
| Q2 25 | 4.2% | -1.1% | ||
| Q1 25 | 9.3% | -2.3% | ||
| Q4 24 | -57.0% | -0.5% | ||
| Q3 24 | -27.1% | 14.9% | ||
| Q2 24 | 10.7% | 8.1% | ||
| Q1 24 | 16.4% | 5.6% |
| Q4 25 | 19.1% | 18.3% | ||
| Q3 25 | 0.6% | 14.6% | ||
| Q2 25 | 2.7% | 9.8% | ||
| Q1 25 | 5.6% | 1.5% | ||
| Q4 24 | -51.1% | -7.2% | ||
| Q3 24 | -20.6% | 20.7% | ||
| Q2 24 | 4.0% | 2.7% | ||
| Q1 24 | 7.7% | 1.1% |
| Q4 25 | $0.59 | $0.08 | ||
| Q3 25 | $-0.02 | $0.05 | ||
| Q2 25 | $0.06 | $0.03 | ||
| Q1 25 | $0.16 | $-0.01 | ||
| Q4 24 | $-2.44 | $-0.05 | ||
| Q3 24 | $-1.10 | $0.09 | ||
| Q2 24 | $0.13 | $-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 | $260.9M | $24.4M |
| Total DebtLower is stronger | — | $361.3M |
| Stockholders' EquityBook value | $538.2M | $-12.9M |
| Total Assets | $4.9B | $959.5M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $260.9M | $24.4M | ||
| Q3 25 | $238.8M | $29.9M | ||
| Q2 25 | $220.0M | $29.3M | ||
| Q1 25 | $279.4M | $40.1M | ||
| Q4 24 | $362.3M | $24.3M | ||
| Q3 24 | $359.8M | $31.0M | ||
| Q2 24 | $672.5M | $27.6M | ||
| Q1 24 | $305.5M | $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 | $538.2M | $-12.9M | ||
| Q3 25 | $503.6M | $7.5M | ||
| Q2 25 | $492.6M | $-25.0M | ||
| Q1 25 | $484.5M | $57.1M | ||
| Q4 24 | $460.9M | $-148.4M | ||
| Q3 24 | $530.3M | $-180.1M | ||
| Q2 24 | $541.8M | $-273.0M | ||
| Q1 24 | $539.5M | $-382.4M |
| Q4 25 | $4.9B | $959.5M | ||
| Q3 25 | $5.0B | $916.7M | ||
| Q2 25 | $5.0B | $905.5M | ||
| Q1 25 | $4.9B | $884.9M | ||
| Q4 24 | $5.0B | $881.1M | ||
| Q3 24 | $5.0B | $831.1M | ||
| Q2 24 | $4.7B | $782.3M | ||
| Q1 24 | $5.3B | $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 | $-18.8M | $-3.5M |
| Free Cash FlowOCF − Capex | $-23.6M | $-13.4M |
| FCF MarginFCF / Revenue | -14.1% | -15.1% |
| Capex IntensityCapex / Revenue | 2.9% | 11.1% |
| Cash ConversionOCF / Net Profit | -0.59× | -0.22× |
| TTM Free Cash FlowTrailing 4 quarters | $-17.9M | $-34.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-18.8M | $-3.5M | ||
| Q3 25 | $34.3M | $18.2M | ||
| Q2 25 | $25.2M | $-7.9M | ||
| Q1 25 | $-51.5M | $29.7M | ||
| Q4 24 | $-247.1M | $-532.0K | ||
| Q3 24 | $-269.9M | $17.7M | ||
| Q2 24 | $-8.7M | $533.0K | ||
| Q1 24 | $24.1M | $13.7M |
| Q4 25 | $-23.6M | $-13.4M | ||
| Q3 25 | $33.7M | $-9.3M | ||
| Q2 25 | $24.7M | $-29.7M | ||
| Q1 25 | $-52.7M | $18.1M | ||
| Q4 24 | $-252.0M | $-55.0M | ||
| Q3 24 | $-270.8M | $-5.4M | ||
| Q2 24 | $-9.3M | $-22.5M | ||
| Q1 24 | $23.3M | $-13.0M |
| Q4 25 | -14.1% | -15.1% | ||
| Q3 25 | 19.5% | -11.9% | ||
| Q2 25 | 14.1% | -38.4% | ||
| Q1 25 | -30.6% | 21.8% | ||
| Q4 24 | -198.9% | -73.8% | ||
| Q3 24 | -141.4% | -6.5% | ||
| Q2 24 | -4.9% | -32.2% | ||
| Q1 24 | 11.6% | -20.4% |
| Q4 25 | 2.9% | 11.1% | ||
| Q3 25 | 0.4% | 35.3% | ||
| Q2 25 | 0.3% | 28.2% | ||
| Q1 25 | 0.7% | 13.9% | ||
| Q4 24 | 3.9% | 73.1% | ||
| Q3 24 | 0.4% | 27.9% | ||
| Q2 24 | 0.3% | 32.9% | ||
| Q1 24 | 0.4% | 41.8% |
| Q4 25 | -0.59× | -0.22× | ||
| Q3 25 | 33.61× | 1.60× | ||
| Q2 25 | 5.29× | -1.04× | ||
| Q1 25 | -5.38× | 23.11× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.03× | ||
| Q2 24 | -1.14× | 0.28× | ||
| Q1 24 | 1.56× | 20.26× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
JRVR
| Excess And Surplus Lines | $156.7M | 93% |
| Specialty Admitted Insurance | $10.9M | 7% |
OPAL
| Fuel Station Services Segment | $65.1M | 74% |
| Related Party | $12.1M | 14% |
| Renewable Power Segment | $8.6M | 10% |
| Other | $2.6M | 3% |
