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Side-by-side financial comparison of OPAL Fuels Inc. (OPAL) and PennyMac Mortgage Investment Trust (PMT). Click either name above to swap in a different company.
PennyMac Mortgage Investment Trust is the larger business by last-quarter revenue ($93.6M vs $88.4M, roughly 1.1× OPAL Fuels Inc.). PennyMac Mortgage Investment Trust runs the higher net margin — 56.0% vs 18.3%, a 37.7% gap on every dollar of revenue. On growth, OPAL Fuels Inc. posted the faster year-over-year revenue change (18.7% vs -13.3%). Over the past eight quarters, OPAL Fuels Inc.'s revenue compounded faster (17.6% CAGR vs 12.3%).
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.
PennyMac Mortgage Investment Trust is a U.S.-headquartered real estate investment trust specializing in residential mortgage assets. It invests in performing and non-performing mortgage loans, mortgage-backed securities, and credit risk transfer instruments, operating across investment management and mortgage servicing segments in the U.S. housing market.
OPAL vs PMT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $88.4M | $93.6M |
| Net Profit | $16.2M | $52.4M |
| Gross Margin | — | — |
| Operating Margin | 7.5% | 38.6% |
| Net Margin | 18.3% | 56.0% |
| Revenue YoY | 18.7% | -13.3% |
| Net Profit YoY | 401.5% | 12.5% |
| EPS (diluted) | $0.08 | $0.49 |
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 | $93.6M | ||
| Q3 25 | $77.9M | $99.2M | ||
| Q2 25 | $77.4M | $70.2M | ||
| Q1 25 | $83.0M | $44.5M | ||
| Q4 24 | $74.5M | $107.9M | ||
| Q3 24 | $82.6M | $80.9M | ||
| Q2 24 | $69.8M | $71.2M | ||
| Q1 24 | $64.0M | $74.2M |
| Q4 25 | $16.2M | $52.4M | ||
| Q3 25 | $11.4M | $58.3M | ||
| Q2 25 | $7.6M | $7.5M | ||
| Q1 25 | $1.3M | $9.7M | ||
| Q4 24 | $-5.4M | $46.5M | ||
| Q3 24 | $17.1M | $41.4M | ||
| Q2 24 | $1.9M | $25.4M | ||
| Q1 24 | $677.0K | $47.6M |
| Q4 25 | 7.5% | 38.6% | ||
| Q3 25 | 4.6% | 47.4% | ||
| Q2 25 | -1.1% | 24.2% | ||
| Q1 25 | -2.3% | -14.2% | ||
| Q4 24 | -0.5% | 51.1% | ||
| Q3 24 | 14.9% | 32.8% | ||
| Q2 24 | 8.1% | 40.2% | ||
| Q1 24 | 5.6% | 43.6% |
| Q4 25 | 18.3% | 56.0% | ||
| Q3 25 | 14.6% | 58.7% | ||
| Q2 25 | 9.8% | 10.7% | ||
| Q1 25 | 1.5% | 21.8% | ||
| Q4 24 | -7.2% | 43.1% | ||
| Q3 24 | 20.7% | 51.2% | ||
| Q2 24 | 2.7% | 35.7% | ||
| Q1 24 | 1.1% | 64.2% |
| Q4 25 | $0.08 | $0.49 | ||
| Q3 25 | $0.05 | $0.55 | ||
| Q2 25 | $0.03 | $-0.04 | ||
| Q1 25 | $-0.01 | $-0.01 | ||
| Q4 24 | $-0.05 | $0.45 | ||
| Q3 24 | $0.09 | $0.36 | ||
| Q2 24 | $-0.01 | $0.17 | ||
| Q1 24 | $-0.01 | $0.39 |
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 | $190.5M |
| Total DebtLower is stronger | $361.3M | $1.1B |
| Stockholders' EquityBook value | $-12.9M | $1.9B |
| Total Assets | $959.5M | $21.3B |
| Debt / EquityLower = less leverage | — | 0.58× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $24.4M | $190.5M | ||
| Q3 25 | $29.9M | $181.0M | ||
| Q2 25 | $29.3M | $108.6M | ||
| Q1 25 | $40.1M | $204.2M | ||
| Q4 24 | $24.3M | $103.2M | ||
| Q3 24 | $31.0M | $102.8M | ||
| Q2 24 | $27.6M | $336.3M | ||
| Q1 24 | $34.2M | $343.3M |
| Q4 25 | $361.3M | $1.1B | ||
| Q3 25 | $351.2M | $299.0M | ||
| Q2 25 | $331.6M | $1.2B | ||
| Q1 25 | $307.0M | $968.4M | ||
| Q4 24 | $307.5M | $1.0B | ||
| Q3 24 | $252.9M | $5.2B | ||
| Q2 24 | $233.3M | $5.4B | ||
| Q1 24 | $208.7M | $5.1B |
| Q4 25 | $-12.9M | $1.9B | ||
| Q3 25 | $7.5M | $1.9B | ||
| Q2 25 | $-25.0M | $1.9B | ||
| Q1 25 | $57.1M | $1.9B | ||
| Q4 24 | $-148.4M | $1.9B | ||
| Q3 24 | $-180.1M | $1.9B | ||
| Q2 24 | $-273.0M | $1.9B | ||
| Q1 24 | $-382.4M | $2.0B |
| Q4 25 | $959.5M | $21.3B | ||
| Q3 25 | $916.7M | $18.5B | ||
| Q2 25 | $905.5M | $16.8B | ||
| Q1 25 | $884.9M | $14.9B | ||
| Q4 24 | $881.1M | $14.4B | ||
| Q3 24 | $831.1M | $13.1B | ||
| Q2 24 | $782.3M | $12.1B | ||
| Q1 24 | $750.5M | $12.3B |
| Q4 25 | — | 0.58× | ||
| Q3 25 | 46.95× | 0.16× | ||
| Q2 25 | — | 0.65× | ||
| Q1 25 | 5.38× | 0.51× | ||
| Q4 24 | — | 0.52× | ||
| Q3 24 | — | 2.70× | ||
| Q2 24 | — | 2.76× | ||
| Q1 24 | — | 2.60× |
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 | $-7.2B |
| Free Cash FlowOCF − Capex | $-13.4M | — |
| FCF MarginFCF / Revenue | -15.1% | — |
| Capex IntensityCapex / Revenue | 11.1% | — |
| Cash ConversionOCF / Net Profit | -0.22× | -137.76× |
| TTM Free Cash FlowTrailing 4 quarters | $-34.2M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-3.5M | $-7.2B | ||
| Q3 25 | $18.2M | $-1.3B | ||
| Q2 25 | $-7.9M | $-2.0B | ||
| Q1 25 | $29.7M | $-594.3M | ||
| Q4 24 | $-532.0K | $-2.7B | ||
| Q3 24 | $17.7M | $-983.8M | ||
| Q2 24 | $533.0K | $243.8M | ||
| Q1 24 | $13.7M | $-342.4M |
| 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× | -137.76× | ||
| Q3 25 | 1.60× | -22.26× | ||
| Q2 25 | -1.04× | -267.53× | ||
| Q1 25 | 23.11× | -61.39× | ||
| Q4 24 | — | -58.08× | ||
| Q3 24 | 1.03× | -23.76× | ||
| Q2 24 | 0.28× | 9.59× | ||
| Q1 24 | 20.26× | -7.19× |
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% |
PMT
| Other | $55.0M | 59% |
| Interest Rate Sensitive Strategies | $31.4M | 34% |
| Correspondent Production | $7.2M | 8% |
