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Side-by-side financial comparison of OPAL Fuels Inc. (OPAL) and Quipt Home Medical Corp. (QIPT). Click either name above to swap in a different company.
OPAL Fuels Inc. is the larger business by last-quarter revenue ($88.4M vs $49.0M, roughly 1.8× Quipt Home Medical Corp.). OPAL Fuels Inc. runs the higher net margin — 18.3% vs -2.1%, a 20.5% gap on every dollar of revenue. On growth, Quipt Home Medical Corp. posted the faster year-over-year revenue change (32.3% vs 18.7%). Quipt Home Medical Corp. produced more free cash flow last quarter ($6.9M vs $-13.4M).
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.
Quipt Home Medical Corp is a U.S.-based home medical equipment provider specializing in respiratory care, sleep therapy supplies, and chronic disease management products. It serves patients with long-term health conditions, partners with healthcare providers and insurance payers across operating regions to deliver accessible in-home medical solutions.
OPAL vs QIPT — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $88.4M | $49.0M |
| Net Profit | $16.2M | $-1.1M |
| Gross Margin | — | 53.5% |
| Operating Margin | 7.5% | 2.1% |
| Net Margin | 18.3% | -2.1% |
| Revenue YoY | 18.7% | 32.3% |
| Net Profit YoY | 401.5% | 2.9% |
| EPS (diluted) | $0.08 | $-0.02 |
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 | $49.0M | ||
| Q3 25 | $77.9M | $39.8M | ||
| Q2 25 | $77.4M | $35.1M | ||
| Q1 25 | $83.0M | $33.3M | ||
| Q4 24 | $74.5M | $37.1M | ||
| Q3 24 | $82.6M | — | ||
| Q2 24 | $69.8M | — | ||
| Q1 24 | $64.0M | — |
| Q4 25 | $16.2M | $-1.1M | ||
| Q3 25 | $11.4M | $-3.5M | ||
| Q2 25 | $7.6M | $-3.0M | ||
| Q1 25 | $1.3M | $-3.0M | ||
| Q4 24 | $-5.4M | $-1.1M | ||
| Q3 24 | $17.1M | — | ||
| Q2 24 | $1.9M | — | ||
| Q1 24 | $677.0K | — |
| Q4 25 | — | 53.5% | ||
| Q3 25 | — | 48.7% | ||
| Q2 25 | — | 57.6% | ||
| Q1 25 | — | 54.6% | ||
| Q4 24 | — | 52.1% | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | 7.5% | 2.1% | ||
| Q3 25 | 4.6% | -3.6% | ||
| Q2 25 | -1.1% | -5.2% | ||
| Q1 25 | -2.3% | -3.0% | ||
| Q4 24 | -0.5% | 1.2% | ||
| Q3 24 | 14.9% | — | ||
| Q2 24 | 8.1% | — | ||
| Q1 24 | 5.6% | — |
| Q4 25 | 18.3% | -2.1% | ||
| Q3 25 | 14.6% | -8.9% | ||
| Q2 25 | 9.8% | -8.6% | ||
| Q1 25 | 1.5% | -9.1% | ||
| Q4 24 | -7.2% | -2.9% | ||
| Q3 24 | 20.7% | — | ||
| Q2 24 | 2.7% | — | ||
| Q1 24 | 1.1% | — |
| Q4 25 | $0.08 | $-0.02 | ||
| Q3 25 | $0.05 | $-0.07 | ||
| Q2 25 | $0.03 | $-0.07 | ||
| Q1 25 | $-0.01 | $-0.07 | ||
| Q4 24 | $-0.05 | $-0.03 | ||
| Q3 24 | $0.09 | — | ||
| Q2 24 | $-0.01 | — | ||
| Q1 24 | $-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 | $10.5M |
| Total DebtLower is stronger | $361.3M | $84.0M |
| Stockholders' EquityBook value | $-12.9M | $113.0M |
| Total Assets | $959.5M | $280.7M |
| Debt / EquityLower = less leverage | — | 0.74× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $24.4M | $10.5M | ||
| Q3 25 | $29.9M | $12.9M | ||
| Q2 25 | $29.3M | $11.3M | ||
| Q1 25 | $40.1M | $17.1M | ||
| Q4 24 | $24.3M | $15.5M | ||
| Q3 24 | $31.0M | — | ||
| Q2 24 | $27.6M | — | ||
| Q1 24 | $34.2M | — |
| Q4 25 | $361.3M | $84.0M | ||
| Q3 25 | $351.2M | $87.6M | ||
| Q2 25 | $331.6M | $66.0M | ||
| Q1 25 | $307.0M | $71.5M | ||
| Q4 24 | $307.5M | $70.6M | ||
| Q3 24 | $252.9M | — | ||
| Q2 24 | $233.3M | — | ||
| Q1 24 | $208.7M | — |
| Q4 25 | $-12.9M | $113.0M | ||
| Q3 25 | $7.5M | $112.1M | ||
| Q2 25 | $-25.0M | $102.5M | ||
| Q1 25 | $57.1M | $103.6M | ||
| Q4 24 | $-148.4M | $106.3M | ||
| Q3 24 | $-180.1M | — | ||
| Q2 24 | $-273.0M | — | ||
| Q1 24 | $-382.4M | — |
| Q4 25 | $959.5M | $280.7M | ||
| Q3 25 | $916.7M | $283.3M | ||
| Q2 25 | $905.5M | $236.1M | ||
| Q1 25 | $884.9M | $244.6M | ||
| Q4 24 | $881.1M | $242.8M | ||
| Q3 24 | $831.1M | — | ||
| Q2 24 | $782.3M | — | ||
| Q1 24 | $750.5M | — |
| Q4 25 | — | 0.74× | ||
| Q3 25 | 46.95× | 0.78× | ||
| Q2 25 | — | 0.64× | ||
| Q1 25 | 5.38× | 0.69× | ||
| Q4 24 | — | 0.66× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $8.9M |
| Free Cash FlowOCF − Capex | $-13.4M | $6.9M |
| FCF MarginFCF / Revenue | -15.1% | 14.0% |
| Capex IntensityCapex / Revenue | 11.1% | 4.2% |
| Cash ConversionOCF / Net Profit | -0.22× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-34.2M | $26.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-3.5M | $8.9M | ||
| Q3 25 | $18.2M | $9.8M | ||
| Q2 25 | $-7.9M | $9.7M | ||
| Q1 25 | $29.7M | $8.9M | ||
| Q4 24 | $-532.0K | $9.3M | ||
| Q3 24 | $17.7M | — | ||
| Q2 24 | $533.0K | — | ||
| Q1 24 | $13.7M | — |
| Q4 25 | $-13.4M | $6.9M | ||
| Q3 25 | $-9.3M | $8.0M | ||
| Q2 25 | $-29.7M | $4.4M | ||
| Q1 25 | $18.1M | $7.3M | ||
| Q4 24 | $-55.0M | $5.6M | ||
| Q3 24 | $-5.4M | — | ||
| Q2 24 | $-22.5M | — | ||
| Q1 24 | $-13.0M | — |
| Q4 25 | -15.1% | 14.0% | ||
| Q3 25 | -11.9% | 20.0% | ||
| Q2 25 | -38.4% | 12.6% | ||
| Q1 25 | 21.8% | 22.0% | ||
| Q4 24 | -73.8% | 15.2% | ||
| Q3 24 | -6.5% | — | ||
| Q2 24 | -32.2% | — | ||
| Q1 24 | -20.4% | — |
| Q4 25 | 11.1% | 4.2% | ||
| Q3 25 | 35.3% | 4.6% | ||
| Q2 25 | 28.2% | 14.9% | ||
| Q1 25 | 13.9% | 4.8% | ||
| Q4 24 | 73.1% | 9.9% | ||
| Q3 24 | 27.9% | — | ||
| Q2 24 | 32.9% | — | ||
| Q1 24 | 41.8% | — |
| Q4 25 | -0.22× | — | ||
| Q3 25 | 1.60× | — | ||
| 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% |
QIPT
Segment breakdown not available.
