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Side-by-side financial comparison of OPAL Fuels Inc. (OPAL) and Repay Holdings Corp (RPAY). Click either name above to swap in a different company.
OPAL Fuels Inc. is the larger business by last-quarter revenue ($88.4M vs $78.6M, roughly 1.1× Repay Holdings Corp). OPAL Fuels Inc. runs the higher net margin — 18.3% vs -178.3%, a 196.6% gap on every dollar of revenue. On growth, OPAL Fuels Inc. posted the faster year-over-year revenue change (18.7% vs 0.4%). Repay Holdings Corp produced more free cash flow last quarter ($23.2M vs $-13.4M). Over the past eight quarters, OPAL Fuels Inc.'s revenue compounded faster (17.6% CAGR vs -1.3%).
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.
Repay Holdings Corp is a leading payment technology provider delivering integrated end-to-end payment processing solutions for businesses across North America. Its offerings include credit/debit card processing, ACH transfer services, POS system integrations and digital payment tools, serving retail, healthcare, automotive and e-commerce segments to help clients streamline transaction workflows and boost operational efficiency.
OPAL vs RPAY — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $88.4M | $78.6M |
| Net Profit | $16.2M | $-140.1M |
| Gross Margin | — | 74.2% |
| Operating Margin | 7.5% | -182.2% |
| Net Margin | 18.3% | -178.3% |
| Revenue YoY | 18.7% | 0.4% |
| Net Profit YoY | 401.5% | -3304.1% |
| EPS (diluted) | $0.08 | $-1.68 |
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 | $78.6M | ||
| Q3 25 | $77.9M | $77.7M | ||
| Q2 25 | $77.4M | $75.6M | ||
| Q1 25 | $83.0M | $77.3M | ||
| Q4 24 | $74.5M | $78.3M | ||
| Q3 24 | $82.6M | $79.1M | ||
| Q2 24 | $69.8M | $74.9M | ||
| Q1 24 | $64.0M | $80.7M |
| Q4 25 | $16.2M | $-140.1M | ||
| Q3 25 | $11.4M | $-6.4M | ||
| Q2 25 | $7.6M | $-102.3M | ||
| Q1 25 | $1.3M | $-7.9M | ||
| Q4 24 | $-5.4M | $-4.1M | ||
| Q3 24 | $17.1M | $3.2M | ||
| Q2 24 | $1.9M | $-4.1M | ||
| Q1 24 | $677.0K | $-5.2M |
| Q4 25 | — | 74.2% | ||
| Q3 25 | — | 74.4% | ||
| Q2 25 | — | 75.7% | ||
| Q1 25 | — | 75.9% | ||
| Q4 24 | — | 76.3% | ||
| Q3 24 | — | 77.8% | ||
| Q2 24 | — | 78.2% | ||
| Q1 24 | — | 76.2% |
| Q4 25 | 7.5% | -182.2% | ||
| Q3 25 | 4.6% | -3.9% | ||
| Q2 25 | -1.1% | -138.7% | ||
| Q1 25 | -2.3% | -4.7% | ||
| Q4 24 | -0.5% | -1.5% | ||
| Q3 24 | 14.9% | -0.9% | ||
| Q2 24 | 8.1% | -4.6% | ||
| Q1 24 | 5.6% | -3.1% |
| Q4 25 | 18.3% | -178.3% | ||
| Q3 25 | 14.6% | -8.3% | ||
| Q2 25 | 9.8% | -135.2% | ||
| Q1 25 | 1.5% | -10.3% | ||
| Q4 24 | -7.2% | -5.3% | ||
| Q3 24 | 20.7% | 4.1% | ||
| Q2 24 | 2.7% | -5.4% | ||
| Q1 24 | 1.1% | -6.5% |
| Q4 25 | $0.08 | $-1.68 | ||
| Q3 25 | $0.05 | $-0.08 | ||
| Q2 25 | $0.03 | $-1.15 | ||
| Q1 25 | $-0.01 | $-0.09 | ||
| Q4 24 | $-0.05 | $-0.04 | ||
| Q3 24 | $0.09 | $0.03 | ||
| Q2 24 | $-0.01 | $-0.04 | ||
| Q1 24 | $-0.01 | $-0.06 |
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 | $115.7M |
| Total DebtLower is stronger | $361.3M | $280.1M |
| Stockholders' EquityBook value | $-12.9M | $484.4M |
| Total Assets | $959.5M | $1.2B |
| Debt / EquityLower = less leverage | — | 0.58× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $24.4M | $115.7M | ||
| Q3 25 | $29.9M | $95.7M | ||
| Q2 25 | $29.3M | $162.6M | ||
| Q1 25 | $40.1M | $165.5M | ||
| Q4 24 | $24.3M | $189.5M | ||
| Q3 24 | $31.0M | $168.7M | ||
| Q2 24 | $27.6M | $147.1M | ||
| Q1 24 | $34.2M | $128.3M |
| Q4 25 | $361.3M | $280.1M | ||
| Q3 25 | $351.2M | $279.5M | ||
| Q2 25 | $331.6M | $279.0M | ||
| Q1 25 | $307.0M | $497.6M | ||
| Q4 24 | $307.5M | $496.8M | ||
| Q3 24 | $252.9M | $496.2M | ||
| Q2 24 | $233.3M | $435.6M | ||
| Q1 24 | $208.7M | $434.9M |
| Q4 25 | $-12.9M | $484.4M | ||
| Q3 25 | $7.5M | $616.9M | ||
| Q2 25 | $-25.0M | $633.7M | ||
| Q1 25 | $57.1M | $755.7M | ||
| Q4 24 | $-148.4M | $761.3M | ||
| Q3 24 | $-180.1M | $754.7M | ||
| Q2 24 | $-273.0M | $815.4M | ||
| Q1 24 | $-382.4M | $813.8M |
| Q4 25 | $959.5M | $1.2B | ||
| Q3 25 | $916.7M | $1.3B | ||
| Q2 25 | $905.5M | $1.4B | ||
| Q1 25 | $884.9M | $1.5B | ||
| Q4 24 | $881.1M | $1.6B | ||
| Q3 24 | $831.1M | $1.6B | ||
| Q2 24 | $782.3M | $1.5B | ||
| Q1 24 | $750.5M | $1.5B |
| Q4 25 | — | 0.58× | ||
| Q3 25 | 46.95× | 0.45× | ||
| Q2 25 | — | 0.44× | ||
| Q1 25 | 5.38× | 0.66× | ||
| Q4 24 | — | 0.65× | ||
| Q3 24 | — | 0.66× | ||
| Q2 24 | — | 0.53× | ||
| Q1 24 | — | 0.53× |
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 | $23.3M |
| Free Cash FlowOCF − Capex | $-13.4M | $23.2M |
| FCF MarginFCF / Revenue | -15.1% | 29.6% |
| Capex IntensityCapex / Revenue | 11.1% | 0.1% |
| Cash ConversionOCF / Net Profit | -0.22× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-34.2M | $90.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-3.5M | $23.3M | ||
| Q3 25 | $18.2M | $32.2M | ||
| Q2 25 | $-7.9M | $33.1M | ||
| Q1 25 | $29.7M | $2.5M | ||
| Q4 24 | $-532.0K | $34.3M | ||
| Q3 24 | $17.7M | $60.1M | ||
| Q2 24 | $533.0K | $31.0M | ||
| Q1 24 | $13.7M | $24.8M |
| Q4 25 | $-13.4M | $23.2M | ||
| Q3 25 | $-9.3M | $32.1M | ||
| Q2 25 | $-29.7M | $33.0M | ||
| Q1 25 | $18.1M | $2.4M | ||
| Q4 24 | $-55.0M | $34.0M | ||
| Q3 24 | $-5.4M | $59.8M | ||
| Q2 24 | $-22.5M | $30.5M | ||
| Q1 24 | $-13.0M | $24.7M |
| Q4 25 | -15.1% | 29.6% | ||
| Q3 25 | -11.9% | 41.3% | ||
| Q2 25 | -38.4% | 43.6% | ||
| Q1 25 | 21.8% | 3.0% | ||
| Q4 24 | -73.8% | 43.5% | ||
| Q3 24 | -6.5% | 75.6% | ||
| Q2 24 | -32.2% | 40.7% | ||
| Q1 24 | -20.4% | 30.6% |
| Q4 25 | 11.1% | 0.1% | ||
| Q3 25 | 35.3% | 0.2% | ||
| Q2 25 | 28.2% | 0.1% | ||
| Q1 25 | 13.9% | 0.2% | ||
| Q4 24 | 73.1% | 0.3% | ||
| Q3 24 | 27.9% | 0.3% | ||
| Q2 24 | 32.9% | 0.6% | ||
| Q1 24 | 41.8% | 0.1% |
| Q4 25 | -0.22× | — | ||
| Q3 25 | 1.60× | — | ||
| Q2 25 | -1.04× | — | ||
| Q1 25 | 23.11× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 1.03× | 18.52× | ||
| 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% |
RPAY
| Sales Channel Directly To Consumer | $69.4M | 88% |
| Other | $6.8M | 9% |
| Sales Channel Through Intermediary | $2.3M | 3% |
