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Side-by-side financial comparison of OPAL Fuels Inc. (OPAL) and OPKO HEALTH, INC. (OPK). Click either name above to swap in a different company.
OPKO HEALTH, INC. is the larger business by last-quarter revenue ($148.5M vs $88.4M, roughly 1.7× OPAL Fuels Inc.). OPAL Fuels Inc. runs the higher net margin — 18.3% vs -21.1%, a 39.4% gap on every dollar of revenue. On growth, OPAL Fuels Inc. posted the faster year-over-year revenue change (18.7% vs -19.2%). OPAL Fuels Inc. produced more free cash flow last quarter ($-13.4M vs $-28.6M). Over the past eight quarters, OPAL Fuels Inc.'s revenue compounded faster (17.6% CAGR vs -7.5%).
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.
OPKO Health, Inc. is a medical test and medication company focused on diagnostics and pharmaceuticals. The company is a publicly traded company on NASDAQ and TASE under the symbol "OPK".
OPAL vs OPK — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $88.4M | $148.5M |
| Net Profit | $16.2M | $-31.3M |
| Gross Margin | — | 43.1% |
| Operating Margin | 7.5% | -25.8% |
| Net Margin | 18.3% | -21.1% |
| Revenue YoY | 18.7% | -19.2% |
| Net Profit YoY | 401.5% | -322.8% |
| EPS (diluted) | $0.08 | $-0.04 |
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 | $88.4M | $148.5M | ||
| Q3 25 | $77.9M | $151.7M | ||
| Q2 25 | $77.4M | $156.8M | ||
| Q1 25 | $83.0M | $150.0M | ||
| Q4 24 | $74.5M | $183.6M | ||
| Q3 24 | $82.6M | $173.6M | ||
| Q2 24 | $69.8M | $182.2M | ||
| Q1 24 | $64.0M | $173.7M |
| Q4 25 | $16.2M | $-31.3M | ||
| Q3 25 | $11.4M | $21.6M | ||
| Q2 25 | $7.6M | $-148.4M | ||
| Q1 25 | $1.3M | $-67.6M | ||
| Q4 24 | $-5.4M | $14.0M | ||
| Q3 24 | $17.1M | $24.9M | ||
| Q2 24 | $1.9M | $-10.3M | ||
| Q1 24 | $677.0K | $-81.8M |
| Q4 25 | — | 43.1% | ||
| Q3 25 | — | 32.9% | ||
| Q2 25 | — | 31.5% | ||
| Q1 25 | — | 28.4% | ||
| Q4 24 | — | 46.1% | ||
| Q3 24 | — | 23.1% | ||
| Q2 24 | — | 28.4% | ||
| Q1 24 | — | 24.2% |
| Q4 25 | 7.5% | -25.8% | ||
| Q3 25 | 4.6% | 31.7% | ||
| Q2 25 | -1.1% | -38.3% | ||
| Q1 25 | -2.3% | -44.8% | ||
| Q4 24 | -0.5% | -18.0% | ||
| Q3 24 | 14.9% | 8.2% | ||
| Q2 24 | 8.1% | -33.9% | ||
| Q1 24 | 5.6% | -41.2% |
| Q4 25 | 18.3% | -21.1% | ||
| Q3 25 | 14.6% | 14.3% | ||
| Q2 25 | 9.8% | -94.7% | ||
| Q1 25 | 1.5% | -45.1% | ||
| Q4 24 | -7.2% | 7.6% | ||
| Q3 24 | 20.7% | 14.3% | ||
| Q2 24 | 2.7% | -5.7% | ||
| Q1 24 | 1.1% | -47.1% |
| Q4 25 | $0.08 | $-0.04 | ||
| Q3 25 | $0.05 | $0.03 | ||
| Q2 25 | $0.03 | $-0.19 | ||
| Q1 25 | $-0.01 | $-0.10 | ||
| Q4 24 | $-0.05 | $0.02 | ||
| Q3 24 | $0.09 | $0.03 | ||
| Q2 24 | $-0.01 | $-0.01 | ||
| Q1 24 | $-0.01 | $-0.12 |
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 | $364.4M |
| Total DebtLower is stronger | $361.3M | $344.0M |
| Stockholders' EquityBook value | $-12.9M | $1.3B |
| Total Assets | $959.5M | $1.9B |
| Debt / EquityLower = less leverage | — | 0.27× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $24.4M | $364.4M | ||
| Q3 25 | $29.9M | $412.0M | ||
| Q2 25 | $29.3M | $267.3M | ||
| Q1 25 | $40.1M | $428.8M | ||
| Q4 24 | $24.3M | $426.6M | ||
| Q3 24 | $31.0M | $400.1M | ||
| Q2 24 | $27.6M | $40.6M | ||
| Q1 24 | $34.2M | $75.6M |
| Q4 25 | $361.3M | $344.0M | ||
| Q3 25 | $351.2M | $344.2M | ||
| Q2 25 | $331.6M | $343.3M | ||
| Q1 25 | $307.0M | $439.2M | ||
| Q4 24 | $307.5M | $437.2M | ||
| Q3 24 | $252.9M | $441.0M | ||
| Q2 24 | $233.3M | $201.9M | ||
| Q1 24 | $208.7M | $350.1M |
| Q4 25 | $-12.9M | $1.3B | ||
| Q3 25 | $7.5M | $1.3B | ||
| Q2 25 | $-25.0M | $1.3B | ||
| Q1 25 | $57.1M | $1.3B | ||
| Q4 24 | $-148.4M | $1.4B | ||
| Q3 24 | $-180.1M | $1.4B | ||
| Q2 24 | $-273.0M | $1.4B | ||
| Q1 24 | $-382.4M | $1.3B |
| Q4 25 | $959.5M | $1.9B | ||
| Q3 25 | $916.7M | $2.0B | ||
| Q2 25 | $905.5M | $2.0B | ||
| Q1 25 | $884.9M | $2.1B | ||
| Q4 24 | $881.1M | $2.2B | ||
| Q3 24 | $831.1M | $2.3B | ||
| Q2 24 | $782.3M | $2.0B | ||
| Q1 24 | $750.5M | $2.0B |
| Q4 25 | — | 0.27× | ||
| Q3 25 | 46.95× | 0.26× | ||
| Q2 25 | — | 0.26× | ||
| Q1 25 | 5.38× | 0.33× | ||
| Q4 24 | — | 0.32× | ||
| Q3 24 | — | 0.31× | ||
| Q2 24 | — | 0.14× | ||
| Q1 24 | — | 0.28× |
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 | $-25.9M |
| Free Cash FlowOCF − Capex | $-13.4M | $-28.6M |
| FCF MarginFCF / Revenue | -15.1% | -19.3% |
| Capex IntensityCapex / Revenue | 11.1% | 1.8% |
| Cash ConversionOCF / Net Profit | -0.22× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-34.2M | $-190.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-3.5M | $-25.9M | ||
| Q3 25 | $18.2M | $-34.6M | ||
| Q2 25 | $-7.9M | $-83.4M | ||
| Q1 25 | $29.7M | $-34.6M | ||
| Q4 24 | $-532.0K | $-44.4M | ||
| Q3 24 | $17.7M | $-77.1M | ||
| Q2 24 | $533.0K | $-26.4M | ||
| Q1 24 | $13.7M | $-35.6M |
| Q4 25 | $-13.4M | $-28.6M | ||
| Q3 25 | $-9.3M | $-37.8M | ||
| Q2 25 | $-29.7M | $-86.7M | ||
| Q1 25 | $18.1M | $-37.7M | ||
| Q4 24 | $-55.0M | $-49.8M | ||
| Q3 24 | $-5.4M | $-85.0M | ||
| Q2 24 | $-22.5M | $-33.7M | ||
| Q1 24 | $-13.0M | $-40.0M |
| Q4 25 | -15.1% | -19.3% | ||
| Q3 25 | -11.9% | -24.9% | ||
| Q2 25 | -38.4% | -55.3% | ||
| Q1 25 | 21.8% | -25.2% | ||
| Q4 24 | -73.8% | -27.1% | ||
| Q3 24 | -6.5% | -49.0% | ||
| Q2 24 | -32.2% | -18.5% | ||
| Q1 24 | -20.4% | -23.0% |
| Q4 25 | 11.1% | 1.8% | ||
| Q3 25 | 35.3% | 2.1% | ||
| Q2 25 | 28.2% | 2.1% | ||
| Q1 25 | 13.9% | 2.1% | ||
| Q4 24 | 73.1% | 2.9% | ||
| Q3 24 | 27.9% | 4.6% | ||
| Q2 24 | 32.9% | 4.0% | ||
| Q1 24 | 41.8% | 2.6% |
| Q4 25 | -0.22× | — | ||
| Q3 25 | 1.60× | -1.60× | ||
| Q2 25 | -1.04× | — | ||
| Q1 25 | 23.11× | — | ||
| Q4 24 | — | -3.17× | ||
| Q3 24 | 1.03× | -3.10× | ||
| 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
OPAL
| Fuel Station Services Segment | $65.1M | 74% |
| Related Party | $12.1M | 14% |
| Renewable Power Segment | $8.6M | 10% |
| Other | $2.6M | 3% |
OPK
| Services | $71.1M | 48% |
| Transfer Of Intellectual Property And Other | $33.7M | 23% |
| IE | $22.1M | 15% |
| Rayaldee | $8.8M | 6% |
| Barda Agreement | $6.8M | 5% |
| MX | $6.3M | 4% |
