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Side-by-side financial comparison of LXP Industrial Trust (LXP) 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 $86.7M, roughly 1.0× LXP Industrial Trust). LXP Industrial Trust runs the higher net margin — 33.2% vs 18.3%, a 14.9% gap on every dollar of revenue. On growth, OPAL Fuels Inc. posted the faster year-over-year revenue change (18.7% vs -14.0%). Over the past eight quarters, OPAL Fuels Inc.'s revenue compounded faster (17.6% CAGR vs 0.3%).
LXP Industrial Trust is a publicly traded real estate investment trust (REIT) that owns, operates, and invests in high-quality industrial real estate assets, primarily distribution centers, logistics facilities, and light industrial properties across key markets in the United States. Its tenant base covers e-commerce, third-party logistics, and advanced manufacturing sectors, delivering stable long-term returns for its investors.
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.
LXP vs OPAL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $86.7M | $88.4M |
| Net Profit | $28.8M | $16.2M |
| Gross Margin | 81.5% | — |
| Operating Margin | 34.6% | 7.5% |
| Net Margin | 33.2% | 18.3% |
| Revenue YoY | -14.0% | 18.7% |
| Net Profit YoY | — | 401.5% |
| EPS (diluted) | — | $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 | $86.7M | $88.4M | ||
| Q3 25 | $86.9M | $77.9M | ||
| Q2 25 | $87.7M | $77.4M | ||
| Q1 25 | $88.9M | $83.0M | ||
| Q4 24 | $100.9M | $74.5M | ||
| Q3 24 | $85.6M | $82.6M | ||
| Q2 24 | $85.8M | $69.8M | ||
| Q1 24 | $86.3M | $64.0M |
| Q4 25 | $28.8M | $16.2M | ||
| Q3 25 | $36.3M | $11.4M | ||
| Q2 25 | $29.1M | $7.6M | ||
| Q1 25 | $19.0M | $1.3M | ||
| Q4 24 | — | $-5.4M | ||
| Q3 24 | $6.3M | $17.1M | ||
| Q2 24 | $5.4M | $1.9M | ||
| Q1 24 | $-269.0K | $677.0K |
| Q4 25 | 81.5% | — | ||
| Q3 25 | 82.3% | — | ||
| Q2 25 | 81.9% | — | ||
| Q1 25 | 80.7% | — | ||
| Q4 24 | 85.3% | — | ||
| Q3 24 | 82.5% | — | ||
| Q2 24 | 82.0% | — | ||
| Q1 24 | 82.4% | — |
| Q4 25 | 34.6% | 7.5% | ||
| Q3 25 | 50.4% | 4.6% | ||
| Q2 25 | 33.7% | -1.1% | ||
| Q1 25 | 21.8% | -2.3% | ||
| Q4 24 | — | -0.5% | ||
| Q3 24 | 7.9% | 14.9% | ||
| Q2 24 | 6.9% | 8.1% | ||
| Q1 24 | 1.0% | 5.6% |
| Q4 25 | 33.2% | 18.3% | ||
| Q3 25 | 41.7% | 14.6% | ||
| Q2 25 | 33.2% | 9.8% | ||
| Q1 25 | 21.4% | 1.5% | ||
| Q4 24 | — | -7.2% | ||
| Q3 24 | 7.4% | 20.7% | ||
| Q2 24 | 6.3% | 2.7% | ||
| Q1 24 | -0.3% | 1.1% |
| Q4 25 | — | $0.08 | ||
| Q3 25 | $0.12 | $0.05 | ||
| Q2 25 | $0.09 | $0.03 | ||
| Q1 25 | $0.06 | $-0.01 | ||
| Q4 24 | — | $-0.05 | ||
| Q3 24 | $0.02 | $0.09 | ||
| Q2 24 | $0.01 | $-0.01 | ||
| Q1 24 | $-0.01 | $-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 | $170.4M | $24.4M |
| Total DebtLower is stronger | $1.4B | $361.3M |
| Stockholders' EquityBook value | $2.0B | $-12.9M |
| Total Assets | $3.5B | $959.5M |
| Debt / EquityLower = less leverage | 0.66× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $170.4M | $24.4M | ||
| Q3 25 | $229.7M | $29.9M | ||
| Q2 25 | $71.0M | $29.3M | ||
| Q1 25 | $70.9M | $40.1M | ||
| Q4 24 | $101.8M | $24.3M | ||
| Q3 24 | $55.0M | $31.0M | ||
| Q2 24 | $48.7M | $27.6M | ||
| Q1 24 | $293.8M | $34.2M |
| Q4 25 | $1.4B | $361.3M | ||
| Q3 25 | $1.5B | $351.2M | ||
| Q2 25 | $1.5B | $331.6M | ||
| Q1 25 | $1.5B | $307.0M | ||
| Q4 24 | $1.6B | $307.5M | ||
| Q3 24 | — | $252.9M | ||
| Q2 24 | — | $233.3M | ||
| Q1 24 | — | $208.7M |
| Q4 25 | $2.0B | $-12.9M | ||
| Q3 25 | $2.1B | $7.5M | ||
| Q2 25 | $2.1B | $-25.0M | ||
| Q1 25 | $2.1B | $57.1M | ||
| Q4 24 | $2.1B | $-148.4M | ||
| Q3 24 | $2.1B | $-180.1M | ||
| Q2 24 | $2.1B | $-273.0M | ||
| Q1 24 | $2.2B | $-382.4M |
| Q4 25 | $3.5B | $959.5M | ||
| Q3 25 | $3.7B | $916.7M | ||
| Q2 25 | $3.7B | $905.5M | ||
| Q1 25 | $3.8B | $884.9M | ||
| Q4 24 | $3.8B | $881.1M | ||
| Q3 24 | $3.9B | $831.1M | ||
| Q2 24 | $3.9B | $782.3M | ||
| Q1 24 | $4.2B | $750.5M |
| Q4 25 | 0.66× | — | ||
| Q3 25 | 0.72× | 46.95× | ||
| Q2 25 | 0.72× | — | ||
| Q1 25 | 0.73× | 5.38× | ||
| Q4 24 | 0.75× | — | ||
| 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 | $188.7M | $-3.5M |
| Free Cash FlowOCF − Capex | — | $-13.4M |
| FCF MarginFCF / Revenue | — | -15.1% |
| Capex IntensityCapex / Revenue | — | 11.1% |
| Cash ConversionOCF / Net Profit | 6.56× | -0.22× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-34.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $188.7M | $-3.5M | ||
| Q3 25 | $63.5M | $18.2M | ||
| Q2 25 | $44.3M | $-7.9M | ||
| Q1 25 | $39.0M | $29.7M | ||
| Q4 24 | $211.2M | $-532.0K | ||
| Q3 24 | $64.6M | $17.7M | ||
| Q2 24 | $38.5M | $533.0K | ||
| Q1 24 | $38.9M | $13.7M |
| Q4 25 | — | $-13.4M | ||
| Q3 25 | — | $-9.3M | ||
| Q2 25 | — | $-29.7M | ||
| Q1 25 | — | $18.1M | ||
| Q4 24 | — | $-55.0M | ||
| Q3 24 | — | $-5.4M | ||
| Q2 24 | — | $-22.5M | ||
| Q1 24 | — | $-13.0M |
| Q4 25 | — | -15.1% | ||
| Q3 25 | — | -11.9% | ||
| Q2 25 | — | -38.4% | ||
| Q1 25 | — | 21.8% | ||
| Q4 24 | — | -73.8% | ||
| Q3 24 | — | -6.5% | ||
| Q2 24 | — | -32.2% | ||
| Q1 24 | — | -20.4% |
| Q4 25 | — | 11.1% | ||
| Q3 25 | — | 35.3% | ||
| Q2 25 | — | 28.2% | ||
| Q1 25 | — | 13.9% | ||
| Q4 24 | — | 73.1% | ||
| Q3 24 | — | 27.9% | ||
| Q2 24 | — | 32.9% | ||
| Q1 24 | — | 41.8% |
| Q4 25 | 6.56× | -0.22× | ||
| Q3 25 | 1.75× | 1.60× | ||
| Q2 25 | 1.52× | -1.04× | ||
| Q1 25 | 2.05× | 23.11× | ||
| Q4 24 | — | — | ||
| Q3 24 | 10.18× | 1.03× | ||
| Q2 24 | 7.09× | 0.28× | ||
| Q1 24 | — | 20.26× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
LXP
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% |
