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Side-by-side financial comparison of NETSTREIT Corp. (NTST) 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 $57.1M, roughly 1.5× NETSTREIT Corp.). OPAL Fuels Inc. runs the higher net margin — 18.3% vs 10.0%, a 8.3% gap on every dollar of revenue. On growth, NETSTREIT Corp. posted the faster year-over-year revenue change (24.3% vs 18.7%). Over the past eight quarters, NETSTREIT Corp.'s revenue compounded faster (20.1% CAGR vs 17.6%).
NETSTREIT Corp. is a US-headquartered real estate investment trust (REIT) that specializes in acquiring and operating a diversified portfolio of single-tenant net lease commercial properties. Its asset portfolio covers retail, industrial and office categories, primarily catering to investment-grade corporate tenants across the United States market.
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.
NTST vs OPAL — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $57.1M | $88.4M |
| Net Profit | $5.7M | $16.2M |
| Gross Margin | — | — |
| Operating Margin | 34.1% | 7.5% |
| Net Margin | 10.0% | 18.3% |
| Revenue YoY | 24.3% | 18.7% |
| Net Profit YoY | 235.9% | 401.5% |
| EPS (diluted) | $0.32 | $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.
| Q1 26 | $57.1M | — | ||
| Q4 25 | $52.5M | $88.4M | ||
| Q3 25 | $48.3M | $77.9M | ||
| Q2 25 | $48.3M | $77.4M | ||
| Q1 25 | $45.9M | $83.0M | ||
| Q4 24 | $44.1M | $74.5M | ||
| Q3 24 | $41.4M | $82.6M | ||
| Q2 24 | $39.6M | $69.8M |
| Q1 26 | $5.7M | — | ||
| Q4 25 | $1.3M | $16.2M | ||
| Q3 25 | $618.0K | $11.4M | ||
| Q2 25 | $3.3M | $7.6M | ||
| Q1 25 | $1.7M | $1.3M | ||
| Q4 24 | $-5.4M | $-5.4M | ||
| Q3 24 | $-5.3M | $17.1M | ||
| Q2 24 | $-2.3M | $1.9M |
| Q1 26 | 34.1% | — | ||
| Q4 25 | 2.6% | 7.5% | ||
| Q3 25 | 1.3% | 4.6% | ||
| Q2 25 | 6.8% | -1.1% | ||
| Q1 25 | 3.7% | -2.3% | ||
| Q4 24 | -12.3% | -0.5% | ||
| Q3 24 | -12.8% | 14.9% | ||
| Q2 24 | -5.8% | 8.1% |
| Q1 26 | 10.0% | — | ||
| Q4 25 | 2.5% | 18.3% | ||
| Q3 25 | 1.3% | 14.6% | ||
| Q2 25 | 6.8% | 9.8% | ||
| Q1 25 | 3.7% | 1.5% | ||
| Q4 24 | -12.3% | -7.2% | ||
| Q3 24 | -12.8% | 20.7% | ||
| Q2 24 | -5.8% | 2.7% |
| Q1 26 | $0.32 | — | ||
| Q4 25 | $0.01 | $0.08 | ||
| Q3 25 | $0.01 | $0.05 | ||
| Q2 25 | $0.04 | $0.03 | ||
| Q1 25 | $0.02 | $-0.01 | ||
| Q4 24 | $-0.07 | $-0.05 | ||
| Q3 24 | $-0.07 | $0.09 | ||
| Q2 24 | $-0.03 | $-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 | — | $24.4M |
| Total DebtLower is stronger | — | $361.3M |
| Stockholders' EquityBook value | $1.5B | $-12.9M |
| Total Assets | $2.8B | $959.5M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | $24.4M | ||
| Q3 25 | — | $29.9M | ||
| Q2 25 | — | $29.3M | ||
| Q1 25 | — | $40.1M | ||
| Q4 24 | — | $24.3M | ||
| Q3 24 | — | $31.0M | ||
| Q2 24 | — | $27.6M |
| Q1 26 | — | — | ||
| Q4 25 | $1.1B | $361.3M | ||
| Q3 25 | $1.1B | $351.2M | ||
| Q2 25 | $926.6M | $331.6M | ||
| Q1 25 | $913.3M | $307.0M | ||
| Q4 24 | $868.3M | $307.5M | ||
| Q3 24 | $778.7M | $252.9M | ||
| Q2 24 | $726.2M | $233.3M |
| Q1 26 | $1.5B | — | ||
| Q4 25 | $1.4B | $-12.9M | ||
| Q3 25 | $1.3B | $7.5M | ||
| Q2 25 | $1.3B | $-25.0M | ||
| Q1 25 | $1.3B | $57.1M | ||
| Q4 24 | $1.3B | $-148.4M | ||
| Q3 24 | $1.3B | $-180.1M | ||
| Q2 24 | $1.3B | $-273.0M |
| Q1 26 | $2.8B | — | ||
| Q4 25 | $2.6B | $959.5M | ||
| Q3 25 | $2.5B | $916.7M | ||
| Q2 25 | $2.3B | $905.5M | ||
| Q1 25 | $2.3B | $884.9M | ||
| Q4 24 | $2.3B | $881.1M | ||
| Q3 24 | $2.2B | $831.1M | ||
| Q2 24 | $2.1B | $782.3M |
| Q1 26 | — | — | ||
| Q4 25 | 0.76× | — | ||
| Q3 25 | 0.84× | 46.95× | ||
| Q2 25 | 0.70× | — | ||
| Q1 25 | 0.70× | 5.38× | ||
| Q4 24 | 0.65× | — | ||
| Q3 24 | 0.58× | — | ||
| Q2 24 | 0.55× | — |
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 | — | $-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.
| Q1 26 | — | — | ||
| Q4 25 | $109.5M | $-3.5M | ||
| Q3 25 | $28.0M | $18.2M | ||
| Q2 25 | $30.6M | $-7.9M | ||
| Q1 25 | $22.1M | $29.7M | ||
| Q4 24 | $90.2M | $-532.0K | ||
| Q3 24 | $25.1M | $17.7M | ||
| Q2 24 | $25.4M | $533.0K |
| Q1 26 | — | — | ||
| 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 26 | — | — | ||
| 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 26 | — | — | ||
| 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 26 | — | — | ||
| Q4 25 | 82.46× | -0.22× | ||
| Q3 25 | 45.27× | 1.60× | ||
| Q2 25 | 9.36× | -1.04× | ||
| Q1 25 | 13.06× | 23.11× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.03× | ||
| Q2 24 | — | 0.28× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
NTST
| Rental revenue (including reimbursable) | $54.0M | 95% |
| Other | $3.0M | 5% |
OPAL
| Fuel Station Services Segment | $65.1M | 74% |
| Related Party | $12.1M | 14% |
| Renewable Power Segment | $8.6M | 10% |
| Other | $2.6M | 3% |
