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OPAL Fuels Inc.（OPAL）与Ribbon Communications Inc.（RBBN）财务数据对比。点击上方公司名可切换其他公司
Ribbon Communications Inc.的季度营收约是OPAL Fuels Inc.的1.8倍（$162.6M vs $88.4M），Ribbon Communications Inc.净利率更高（54.8% vs 18.3%，领先36.5%），OPAL Fuels Inc.同比增速更快（18.7% vs -10.3%），过去两年OPAL Fuels Inc.的营收复合增速更高（17.6% vs -8.1%）
OPAL Fuels Inc.是一家北美能源企业，专注于生产和分销低碳可再生天然气（RNG）。公司从垃圾填埋场、奶牛场等有机废物流中收集甲烷，产出的可再生天然气主要供应给重型运输车队、商业物流运营商及公共交通实体，助力降低碳排放。
睿宾通信公司（Ribbon Communications Inc.）主要为电信运营商、企业及关键基础设施领域提供软件、IP与光网络解决方案。公司于2017年由Genband与Sonus Networks合并成立，总部位于美国得克萨斯州普莱诺，是一家上市科技企业。
OPAL vs RBBN — 直观对比
营收规模更大
RBBN
是对方的1.8倍
$88.4M
营收增速更快
OPAL
高出29.0%
-10.3%
净利率更高
RBBN
高出36.5%
18.3%
两年增速更快
OPAL
近两年复合增速
-8.1%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $88.4M | $162.6M |
| 净利润 | $16.2M | $89.1M |
| 毛利率 | — | 42.9% |
| 营业利润率 | 7.5% | — |
| 净利率 | 18.3% | 54.8% |
| 营收同比 | 18.7% | -10.3% |
| 净利润同比 | 401.5% | — |
| 每股收益（稀释后） | $0.08 | $0.50 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收OPALRBBN
| Q1 26 | — | $162.6M | ||
| Q4 25 | $88.4M | $227.3M | ||
| Q3 25 | $77.9M | $215.4M | ||
| Q2 25 | $77.4M | $220.6M | ||
| Q1 25 | $83.0M | $181.3M | ||
| Q4 24 | $74.5M | $251.4M | ||
| Q3 24 | $82.6M | $210.2M | ||
| Q2 24 | $69.8M | $192.6M |
净利润OPALRBBN
| Q1 26 | — | $89.1M | ||
| Q4 25 | $16.2M | — | ||
| Q3 25 | $11.4M | $-12.1M | ||
| Q2 25 | $7.6M | $-11.1M | ||
| Q1 25 | $1.3M | $-26.2M | ||
| Q4 24 | $-5.4M | — | ||
| Q3 24 | $17.1M | $-13.4M | ||
| Q2 24 | $1.9M | $-16.8M |
毛利率OPALRBBN
| Q1 26 | — | 42.9% | ||
| Q4 25 | — | 53.3% | ||
| Q3 25 | — | 50.1% | ||
| Q2 25 | — | 49.6% | ||
| Q1 25 | — | 45.4% | ||
| Q4 24 | — | 55.7% | ||
| Q3 24 | — | 52.1% | ||
| Q2 24 | — | 50.8% |
营业利润率OPALRBBN
| Q1 26 | — | — | ||
| Q4 25 | 7.5% | 4.1% | ||
| Q3 25 | 4.6% | 1.3% | ||
| Q2 25 | -1.1% | 1.9% | ||
| Q1 25 | -2.3% | -10.8% | ||
| Q4 24 | -0.5% | 13.2% | ||
| Q3 24 | 14.9% | -0.4% | ||
| Q2 24 | 8.1% | -1.0% |
净利率OPALRBBN
| Q1 26 | — | 54.8% | ||
| Q4 25 | 18.3% | — | ||
| Q3 25 | 14.6% | -5.6% | ||
| Q2 25 | 9.8% | -5.0% | ||
| Q1 25 | 1.5% | -14.5% | ||
| Q4 24 | -7.2% | — | ||
| Q3 24 | 20.7% | -6.4% | ||
| Q2 24 | 2.7% | -8.7% |
每股收益（稀释后）OPALRBBN
| Q1 26 | — | $0.50 | ||
| Q4 25 | $0.08 | $0.50 | ||
| Q3 25 | $0.05 | $-0.07 | ||
| Q2 25 | $0.03 | $-0.06 | ||
| Q1 25 | $-0.01 | $-0.15 | ||
| Q4 24 | $-0.05 | $0.05 | ||
| Q3 24 | $0.09 | $-0.08 | ||
| Q2 24 | $-0.01 | $-0.10 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $24.4M | $67.6M |
| 总债务越低越好 | $361.3M | — |
| 股东权益账面价值 | $-12.9M | $419.1M |
| 总资产 | $959.5M | — |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资OPALRBBN
| Q1 26 | — | $67.6M | ||
| Q4 25 | $24.4M | $96.4M | ||
| Q3 25 | $29.9M | $74.8M | ||
| Q2 25 | $29.3M | $60.5M | ||
| Q1 25 | $40.1M | $71.2M | ||
| Q4 24 | $24.3M | $87.8M | ||
| Q3 24 | $31.0M | $37.2M | ||
| Q2 24 | $27.6M | $64.6M |
总债务OPALRBBN
| Q1 26 | — | — | ||
| Q4 25 | $361.3M | $342.1M | ||
| Q3 25 | $351.2M | $344.3M | ||
| Q2 25 | $331.6M | $346.5M | ||
| Q1 25 | $307.0M | $347.4M | ||
| Q4 24 | $307.5M | $348.3M | ||
| Q3 24 | $252.9M | $349.1M | ||
| Q2 24 | $233.3M | $350.0M |
股东权益OPALRBBN
| Q1 26 | — | $419.1M | ||
| Q4 25 | $-12.9M | $449.0M | ||
| Q3 25 | $7.5M | $360.1M | ||
| Q2 25 | $-25.0M | $370.4M | ||
| Q1 25 | $57.1M | $381.8M | ||
| Q4 24 | $-148.4M | $404.6M | ||
| Q3 24 | $-180.1M | $395.5M | ||
| Q2 24 | $-273.0M | $405.0M |
总资产OPALRBBN
| Q1 26 | — | — | ||
| Q4 25 | $959.5M | $1.2B | ||
| Q3 25 | $916.7M | $1.1B | ||
| Q2 25 | $905.5M | $1.1B | ||
| Q1 25 | $884.9M | $1.1B | ||
| Q4 24 | $881.1M | $1.2B | ||
| Q3 24 | $831.1M | $1.1B | ||
| Q2 24 | $782.3M | $1.1B |
负债/权益比OPALRBBN
| Q1 26 | — | — | ||
| Q4 25 | — | 0.76× | ||
| Q3 25 | 46.95× | 0.96× | ||
| Q2 25 | — | 0.94× | ||
| Q1 25 | 5.38× | 0.91× | ||
| Q4 24 | — | 0.86× | ||
| Q3 24 | — | 0.88× | ||
| Q2 24 | — | 0.86× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $-3.5M | — |
| 自由现金流经营现金流 - 资本支出 | $-13.4M | — |
| 自由现金流率自由现金流/营收 | -15.1% | — |
| 资本支出强度资本支出/营收 | 11.1% | — |
| 现金转化率经营现金流/净利润 | -0.22× | — |
| 过去12个月自由现金流最近4个季度 | $-34.2M | — |
8季度趋势，按日历期对齐
经营现金流OPALRBBN
| Q1 26 | — | — | ||
| Q4 25 | $-3.5M | $29.2M | ||
| Q3 25 | $18.2M | $26.5M | ||
| Q2 25 | $-7.9M | $-795.0K | ||
| Q1 25 | $29.7M | $-3.5M | ||
| Q4 24 | $-532.0K | $61.8M | ||
| Q3 24 | $17.7M | $-14.8M | ||
| Q2 24 | $533.0K | $-9.8M |
自由现金流OPALRBBN
| Q1 26 | — | — | ||
| Q4 25 | $-13.4M | $27.3M | ||
| Q3 25 | $-9.3M | $21.0M | ||
| Q2 25 | $-29.7M | $-6.5M | ||
| Q1 25 | $18.1M | $-15.7M | ||
| Q4 24 | $-55.0M | $53.8M | ||
| Q3 24 | $-5.4M | $-23.7M | ||
| Q2 24 | $-22.5M | $-12.9M |
自由现金流率OPALRBBN
| Q1 26 | — | — | ||
| Q4 25 | -15.1% | 12.0% | ||
| Q3 25 | -11.9% | 9.7% | ||
| Q2 25 | -38.4% | -2.9% | ||
| Q1 25 | 21.8% | -8.7% | ||
| Q4 24 | -73.8% | 21.4% | ||
| Q3 24 | -6.5% | -11.3% | ||
| Q2 24 | -32.2% | -6.7% |
资本支出强度OPALRBBN
| Q1 26 | — | — | ||
| Q4 25 | 11.1% | 0.9% | ||
| Q3 25 | 35.3% | 2.6% | ||
| Q2 25 | 28.2% | 2.6% | ||
| Q1 25 | 13.9% | 6.7% | ||
| Q4 24 | 73.1% | 3.2% | ||
| Q3 24 | 27.9% | 4.2% | ||
| Q2 24 | 32.9% | 1.6% |
现金转化率OPALRBBN
| Q1 26 | — | — | ||
| 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× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
OPAL
| Fuel Station Services Segment | $65.1M | 74% |
| Related Party | $12.1M | 14% |
| Renewable Power Segment | $8.6M | 10% |
| Other | $2.6M | 3% |
RBBN
| Service | $94.5M | 58% |
| Product | $68.1M | 42% |
