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Side-by-side financial comparison of OPAL Fuels Inc. (OPAL) and PagerDuty, Inc. (PD). Click either name above to swap in a different company.
PagerDuty, Inc. is the larger business by last-quarter revenue ($124.5M vs $88.4M, roughly 1.4× OPAL Fuels Inc.). PagerDuty, Inc. runs the higher net margin — 129.7% vs 18.3%, a 111.4% gap on every dollar of revenue. On growth, OPAL Fuels Inc. posted the faster year-over-year revenue change (18.7% vs 4.7%). PagerDuty, Inc. produced more free cash flow last quarter ($24.1M vs $-13.4M). Over the past eight quarters, OPAL Fuels Inc.'s revenue compounded faster (17.6% CAGR vs 5.9%).
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.
PagerDuty, Inc. is an American cloud computing company specializing in a SaaS incident management platform for IT operations departments.
OPAL vs PD — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $88.4M | $124.5M |
| Net Profit | $16.2M | $161.6M |
| Gross Margin | — | 85.3% |
| Operating Margin | 7.5% | 6.5% |
| Net Margin | 18.3% | 129.7% |
| Revenue YoY | 18.7% | 4.7% |
| Net Profit YoY | 401.5% | 2827.7% |
| EPS (diluted) | $0.08 | $1.69 |
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 | $124.5M | ||
| Q3 25 | $77.9M | $123.4M | ||
| Q2 25 | $77.4M | $119.8M | ||
| Q1 25 | $83.0M | $121.4M | ||
| Q4 24 | $74.5M | $118.9M | ||
| Q3 24 | $82.6M | $115.9M | ||
| Q2 24 | $69.8M | $111.2M | ||
| Q1 24 | $64.0M | $111.1M |
| Q4 25 | $16.2M | $161.6M | ||
| Q3 25 | $11.4M | $9.6M | ||
| Q2 25 | $7.6M | $-7.2M | ||
| Q1 25 | $1.3M | $-8.8M | ||
| Q4 24 | $-5.4M | $-5.9M | ||
| Q3 24 | $17.1M | $-10.9M | ||
| Q2 24 | $1.9M | $-17.1M | ||
| Q1 24 | $677.0K | $-28.2M |
| Q4 25 | — | 85.3% | ||
| Q3 25 | — | 84.6% | ||
| Q2 25 | — | 84.0% | ||
| Q1 25 | — | 83.6% | ||
| Q4 24 | — | 83.0% | ||
| Q3 24 | — | 82.7% | ||
| Q2 24 | — | 82.6% | ||
| Q1 24 | — | 81.7% |
| Q4 25 | 7.5% | 6.5% | ||
| Q3 25 | 4.6% | 2.9% | ||
| Q2 25 | -1.1% | -8.6% | ||
| Q1 25 | -2.3% | -9.6% | ||
| Q4 24 | -0.5% | -8.7% | ||
| Q3 24 | 14.9% | -13.8% | ||
| Q2 24 | 8.1% | -19.5% | ||
| Q1 24 | 5.6% | -30.1% |
| Q4 25 | 18.3% | 129.7% | ||
| Q3 25 | 14.6% | 7.8% | ||
| Q2 25 | 9.8% | -6.0% | ||
| Q1 25 | 1.5% | -7.2% | ||
| Q4 24 | -7.2% | -5.0% | ||
| Q3 24 | 20.7% | -9.4% | ||
| Q2 24 | 2.7% | -15.4% | ||
| Q1 24 | 1.1% | -25.3% |
| Q4 25 | $0.08 | $1.69 | ||
| Q3 25 | $0.05 | $0.10 | ||
| Q2 25 | $0.03 | $-0.07 | ||
| Q1 25 | $-0.01 | $-0.12 | ||
| Q4 24 | $-0.05 | $-0.07 | ||
| Q3 24 | $0.09 | $-0.14 | ||
| Q2 24 | $-0.01 | $-0.26 | ||
| Q1 24 | $-0.01 | $-0.34 |
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 | $547.8M |
| Total DebtLower is stronger | $361.3M | — |
| Stockholders' EquityBook value | $-12.9M | $320.5M |
| Total Assets | $959.5M | $1.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $24.4M | $547.8M | ||
| Q3 25 | $29.9M | $567.9M | ||
| Q2 25 | $29.3M | $597.1M | ||
| Q1 25 | $40.1M | $570.8M | ||
| Q4 24 | $24.3M | $542.2M | ||
| Q3 24 | $31.0M | $599.3M | ||
| Q2 24 | $27.6M | $592.8M | ||
| Q1 24 | $34.2M | $571.2M |
| Q4 25 | $361.3M | — | ||
| Q3 25 | $351.2M | — | ||
| Q2 25 | $331.6M | — | ||
| Q1 25 | $307.0M | $484.5M | ||
| Q4 24 | $307.5M | — | ||
| Q3 24 | $252.9M | — | ||
| Q2 24 | $233.3M | — | ||
| Q1 24 | $208.7M | $489.5M |
| Q4 25 | $-12.9M | $320.5M | ||
| Q3 25 | $7.5M | $180.7M | ||
| Q2 25 | $-25.0M | $145.7M | ||
| Q1 25 | $57.1M | $129.8M | ||
| Q4 24 | $-148.4M | $111.6M | ||
| Q3 24 | $-180.1M | $164.7M | ||
| Q2 24 | $-273.0M | $174.0M | ||
| Q1 24 | $-382.4M | $171.6M |
| Q4 25 | $959.5M | $1.0B | ||
| Q3 25 | $916.7M | $891.5M | ||
| Q2 25 | $905.5M | $926.8M | ||
| Q1 25 | $884.9M | $927.3M | ||
| Q4 24 | $881.1M | $866.8M | ||
| Q3 24 | $831.1M | $916.0M | ||
| Q2 24 | $782.3M | $924.0M | ||
| Q1 24 | $750.5M | $925.3M |
| Q4 25 | — | — | ||
| Q3 25 | 46.95× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 5.38× | 3.73× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 2.85× |
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 | $24.8M |
| Free Cash FlowOCF − Capex | $-13.4M | $24.1M |
| FCF MarginFCF / Revenue | -15.1% | 19.3% |
| Capex IntensityCapex / Revenue | 11.1% | 0.6% |
| Cash ConversionOCF / Net Profit | -0.22× | 0.15× |
| TTM Free Cash FlowTrailing 4 quarters | $-34.2M | $117.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-3.5M | $24.8M | ||
| Q3 25 | $18.2M | $34.0M | ||
| Q2 25 | $-7.9M | $30.7M | ||
| Q1 25 | $29.7M | $31.4M | ||
| Q4 24 | $-532.0K | $22.1M | ||
| Q3 24 | $17.7M | $35.8M | ||
| Q2 24 | $533.0K | $28.6M | ||
| Q1 24 | $13.7M | $22.2M |
| Q4 25 | $-13.4M | $24.1M | ||
| Q3 25 | $-9.3M | $33.1M | ||
| Q2 25 | $-29.7M | $30.2M | ||
| Q1 25 | $18.1M | $30.3M | ||
| Q4 24 | $-55.0M | $21.5M | ||
| Q3 24 | $-5.4M | $35.1M | ||
| Q2 24 | $-22.5M | $28.2M | ||
| Q1 24 | $-13.0M | $21.2M |
| Q4 25 | -15.1% | 19.3% | ||
| Q3 25 | -11.9% | 26.8% | ||
| Q2 25 | -38.4% | 25.2% | ||
| Q1 25 | 21.8% | 24.9% | ||
| Q4 24 | -73.8% | 18.1% | ||
| Q3 24 | -6.5% | 30.3% | ||
| Q2 24 | -32.2% | 25.4% | ||
| Q1 24 | -20.4% | 19.1% |
| Q4 25 | 11.1% | 0.6% | ||
| Q3 25 | 35.3% | 0.7% | ||
| Q2 25 | 28.2% | 0.4% | ||
| Q1 25 | 13.9% | 0.9% | ||
| Q4 24 | 73.1% | 0.5% | ||
| Q3 24 | 27.9% | 0.5% | ||
| Q2 24 | 32.9% | 0.4% | ||
| Q1 24 | 41.8% | 0.9% |
| Q4 25 | -0.22× | 0.15× | ||
| Q3 25 | 1.60× | 3.55× | ||
| Q2 25 | -1.04× | — | ||
| Q1 25 | 23.11× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 1.03× | — | ||
| 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% |
PD
| US | $88.8M | 71% |
| Non Us | $35.7M | 29% |
