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Side-by-side financial comparison of NACCO INDUSTRIES INC (NC) 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 $66.8M, roughly 1.3× NACCO INDUSTRIES INC). OPAL Fuels Inc. runs the higher net margin — 18.3% vs -5.8%, a 24.1% gap on every dollar of revenue. On growth, OPAL Fuels Inc. posted the faster year-over-year revenue change (18.7% vs -5.2%). Over the past eight quarters, OPAL Fuels Inc.'s revenue compounded faster (17.6% CAGR vs 11.9%).
NACCO Industries, Inc. is an American publicly traded holding company, headquartered in Cleveland, Ohio. Through a portfolio of mining and natural resources businesses, the company operates under three business segments: Coal Mining, North American Mining, and Minerals Management. The Coal Mining segment operates surface coal mines under long-term contracts with power generation companies and an activated carbon producer pursuant to a service-based business model. The North American Mining se...
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.
NC vs OPAL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $66.8M | $88.4M |
| Net Profit | $-3.8M | $16.2M |
| Gross Margin | 18.0% | — |
| Operating Margin | 11.3% | 7.5% |
| Net Margin | -5.8% | 18.3% |
| Revenue YoY | -5.2% | 18.7% |
| Net Profit YoY | -150.8% | 401.5% |
| EPS (diluted) | $-0.53 | $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 | $66.8M | $88.4M | ||
| Q3 25 | $76.6M | $77.9M | ||
| Q2 25 | $68.2M | $77.4M | ||
| Q1 25 | $65.6M | $83.0M | ||
| Q4 24 | $70.4M | $74.5M | ||
| Q3 24 | $61.7M | $82.6M | ||
| Q2 24 | $52.3M | $69.8M | ||
| Q1 24 | $53.3M | $64.0M |
| Q4 25 | $-3.8M | $16.2M | ||
| Q3 25 | $13.3M | $11.4M | ||
| Q2 25 | $3.3M | $7.6M | ||
| Q1 25 | $4.9M | $1.3M | ||
| Q4 24 | $7.6M | $-5.4M | ||
| Q3 24 | $15.6M | $17.1M | ||
| Q2 24 | $6.0M | $1.9M | ||
| Q1 24 | $4.6M | $677.0K |
| Q4 25 | 18.0% | — | ||
| Q3 25 | 13.0% | — | ||
| Q2 25 | 10.0% | — | ||
| Q1 25 | 14.7% | — | ||
| Q4 24 | 12.0% | — | ||
| Q3 24 | 11.7% | — | ||
| Q2 24 | 13.4% | — | ||
| Q1 24 | 13.2% | — |
| Q4 25 | 11.3% | 7.5% | ||
| Q3 25 | 8.8% | 4.6% | ||
| Q2 25 | -0.1% | -1.1% | ||
| Q1 25 | 11.7% | -2.3% | ||
| Q4 24 | 5.5% | -0.5% | ||
| Q3 24 | 31.9% | 14.9% | ||
| Q2 24 | 14.1% | 8.1% | ||
| Q1 24 | 8.9% | 5.6% |
| Q4 25 | -5.8% | 18.3% | ||
| Q3 25 | 17.3% | 14.6% | ||
| Q2 25 | 4.8% | 9.8% | ||
| Q1 25 | 7.5% | 1.5% | ||
| Q4 24 | 10.7% | -7.2% | ||
| Q3 24 | 25.4% | 20.7% | ||
| Q2 24 | 11.4% | 2.7% | ||
| Q1 24 | 8.6% | 1.1% |
| Q4 25 | $-0.53 | $0.08 | ||
| Q3 25 | $1.78 | $0.05 | ||
| Q2 25 | $0.44 | $0.03 | ||
| Q1 25 | $0.66 | $-0.01 | ||
| Q4 24 | $0.99 | $-0.05 | ||
| Q3 24 | $2.14 | $0.09 | ||
| Q2 24 | $0.81 | $-0.01 | ||
| Q1 24 | $0.61 | $-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 | $49.7M | $24.4M |
| Total DebtLower is stronger | $100.8M | $361.3M |
| Stockholders' EquityBook value | $429.2M | $-12.9M |
| Total Assets | $661.2M | $959.5M |
| Debt / EquityLower = less leverage | 0.23× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $49.7M | $24.4M | ||
| Q3 25 | $52.7M | $29.9M | ||
| Q2 25 | $49.4M | $29.3M | ||
| Q1 25 | $61.9M | $40.1M | ||
| Q4 24 | $72.8M | $24.3M | ||
| Q3 24 | $63.1M | $31.0M | ||
| Q2 24 | $62.4M | $27.6M | ||
| Q1 24 | $61.8M | $34.2M |
| Q4 25 | $100.8M | $361.3M | ||
| Q3 25 | — | $351.2M | ||
| Q2 25 | — | $331.6M | ||
| Q1 25 | — | $307.0M | ||
| Q4 24 | $99.4M | $307.5M | ||
| Q3 24 | — | $252.9M | ||
| Q2 24 | $29.0M | $233.3M | ||
| Q1 24 | $28.4M | $208.7M |
| Q4 25 | $429.2M | $-12.9M | ||
| Q3 25 | $426.4M | $7.5M | ||
| Q2 25 | $413.1M | $-25.0M | ||
| Q1 25 | $409.1M | $57.1M | ||
| Q4 24 | $404.9M | $-148.4M | ||
| Q3 24 | $397.3M | $-180.1M | ||
| Q2 24 | $384.1M | $-273.0M | ||
| Q1 24 | $381.6M | $-382.4M |
| Q4 25 | $661.2M | $959.5M | ||
| Q3 25 | $637.6M | $916.7M | ||
| Q2 25 | $631.3M | $905.5M | ||
| Q1 25 | $634.2M | $884.9M | ||
| Q4 24 | $631.7M | $881.1M | ||
| Q3 24 | $597.4M | $831.1M | ||
| Q2 24 | $560.1M | $782.3M | ||
| Q1 24 | $538.0M | $750.5M |
| Q4 25 | 0.23× | — | ||
| Q3 25 | — | 46.95× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 5.38× | ||
| Q4 24 | 0.25× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 0.08× | — | ||
| Q1 24 | 0.07× | — |
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 | $11.4M | $-3.5M |
| Free Cash FlowOCF − Capex | — | $-13.4M |
| FCF MarginFCF / Revenue | — | -15.1% |
| Capex IntensityCapex / Revenue | — | 11.1% |
| Cash ConversionOCF / Net Profit | — | -0.22× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-34.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $11.4M | $-3.5M | ||
| Q3 25 | $42.3M | $18.2M | ||
| Q2 25 | $-7.8M | $-7.9M | ||
| Q1 25 | $5.0M | $29.7M | ||
| Q4 24 | $25.2M | $-532.0K | ||
| Q3 24 | $2.8M | $17.7M | ||
| Q2 24 | $4.1M | $533.0K | ||
| Q1 24 | $-9.8M | $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 | — | -0.22× | ||
| Q3 25 | 3.19× | 1.60× | ||
| Q2 25 | -2.39× | -1.04× | ||
| Q1 25 | 1.03× | 23.11× | ||
| Q4 24 | 3.33× | — | ||
| Q3 24 | 0.18× | 1.03× | ||
| Q2 24 | 0.68× | 0.28× | ||
| Q1 24 | -2.14× | 20.26× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
NC
| Transferred Over Time | $42.7M | 64% |
| Transferred At Point In Time | $24.1M | 36% |
OPAL
| Fuel Station Services Segment | $65.1M | 74% |
| Related Party | $12.1M | 14% |
| Renewable Power Segment | $8.6M | 10% |
| Other | $2.6M | 3% |
