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OPAL Fuels Inc.（OPAL）与Repay Holdings Corp（RPAY）财务数据对比。点击上方公司名可切换其他公司
OPAL Fuels Inc.的季度营收约是Repay Holdings Corp的1.1倍（$88.4M vs $78.6M），OPAL Fuels Inc.净利率更高（18.3% vs -178.3%，领先196.6%），OPAL Fuels Inc.同比增速更快（18.7% vs 0.4%），Repay Holdings Corp自由现金流更多（$23.2M vs $-13.4M），过去两年OPAL Fuels Inc.的营收复合增速更高（17.6% vs -1.3%）
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。
Repay Holdings Corp是一家聚焦北美市场的支付技术服务商，为零售、医疗、汽车服务、电商等领域的企业提供整合支付处理方案，涵盖银行卡收单、ACH转账、POS系统集成等数字化支付工具，助力客户简化交易流程、提升运营效率。
OPAL vs RPAY — 直观对比
营收规模更大
OPAL
是对方的1.1倍
$78.6M
营收增速更快
OPAL
高出18.3%
0.4%
净利率更高
OPAL
高出196.6%
-178.3%
自由现金流更多
RPAY
多$36.6M
$-13.4M
两年增速更快
OPAL
近两年复合增速
-1.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $88.4M | $78.6M |
| 净利润 | $16.2M | $-140.1M |
| 毛利率 | — | 74.2% |
| 营业利润率 | 7.5% | -182.2% |
| 净利率 | 18.3% | -178.3% |
| 营收同比 | 18.7% | 0.4% |
| 净利润同比 | 401.5% | -3304.1% |
| 每股收益（稀释后） | $0.08 | $-1.68 |
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OPALRPAY
| 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 |
净利润OPALRPAY
| 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 |
毛利率OPALRPAY
| 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% |
营业利润率OPALRPAY
| 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% |
净利率OPALRPAY
| 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% |
每股收益（稀释后）OPALRPAY
| 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 |
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 | $115.7M |
| 总债务越低越好 | $361.3M | $280.1M |
| 股东权益账面价值 | $-12.9M | $484.4M |
| 总资产 | $959.5M | $1.2B |
| 负债/权益比越低杠杆越低 | — | 0.58× |
8季度趋势，按日历期对齐
现金及短期投资OPALRPAY
| 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 |
总债务OPALRPAY
| 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 |
股东权益OPALRPAY
| 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 |
总资产OPALRPAY
| 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 |
负债/权益比OPALRPAY
| 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× |
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 | $23.3M |
| 自由现金流经营现金流 - 资本支出 | $-13.4M | $23.2M |
| 自由现金流率自由现金流/营收 | -15.1% | 29.6% |
| 资本支出强度资本支出/营收 | 11.1% | 0.1% |
| 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 | $90.7M |
8季度趋势，按日历期对齐
经营现金流OPALRPAY
| 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 |
自由现金流OPALRPAY
| 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 |
自由现金流率OPALRPAY
| 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% |
资本支出强度OPALRPAY
| 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% |
现金转化率OPALRPAY
| 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× | — |
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% |
RPAY
| Sales Channel Directly To Consumer | $69.4M | 88% |
| Other | $6.8M | 9% |
| Sales Channel Through Intermediary | $2.3M | 3% |
