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OPAL Fuels Inc.（OPAL）与STEM, INC.（STEM）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STEM, INC.的1.9倍（$88.4M vs $47.1M），OPAL Fuels Inc.净利率更高（18.3% vs -33.9%，领先52.2%），OPAL Fuels Inc.同比增速更快（18.7% vs -15.6%），过去两年STEM, INC.的营收复合增速更高（36.1% vs 17.6%）
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。
该公司是一家公开上市的生物制药企业，总部位于加利福尼亚州纽瓦克，专注研发纯化人类神经干细胞，旨在治疗中枢神经系统疾病与瘫痪，其所研发的神经干细胞可分化为中枢神经系统的神经元、星形胶质细胞与少突胶质细胞这三大主要细胞类型。
OPAL vs STEM — 直观对比
营收规模更大
OPAL
是对方的1.9倍
$47.1M
营收增速更快
OPAL
高出34.3%
-15.6%
净利率更高
OPAL
高出52.2%
-33.9%
两年增速更快
STEM
近两年复合增速
17.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $88.4M | $47.1M |
| 净利润 | $16.2M | $-16.0M |
| 毛利率 | — | 48.9% |
| 营业利润率 | 7.5% | -17.7% |
| 净利率 | 18.3% | -33.9% |
| 营收同比 | 18.7% | -15.6% |
| 净利润同比 | 401.5% | 68.8% |
| 每股收益（稀释后） | $0.08 | $-4.40 |
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OPALSTEM
| Q4 25 | $88.4M | $47.1M | ||
| Q3 25 | $77.9M | $38.2M | ||
| Q2 25 | $77.4M | $38.4M | ||
| Q1 25 | $83.0M | $32.5M | ||
| Q4 24 | $74.5M | $55.8M | ||
| Q3 24 | $82.6M | $29.3M | ||
| Q2 24 | $69.8M | $34.0M | ||
| Q1 24 | $64.0M | $25.5M |
净利润OPALSTEM
| Q4 25 | $16.2M | $-16.0M | ||
| Q3 25 | $11.4M | $-23.8M | ||
| Q2 25 | $7.6M | $202.5M | ||
| Q1 25 | $1.3M | $-25.0M | ||
| Q4 24 | $-5.4M | $-51.1M | ||
| Q3 24 | $17.1M | $-148.3M | ||
| Q2 24 | $1.9M | $-582.3M | ||
| Q1 24 | $677.0K | $-72.3M |
毛利率OPALSTEM
| Q4 25 | — | 48.9% | ||
| Q3 25 | — | 35.5% | ||
| Q2 25 | — | 33.4% | ||
| Q1 25 | — | 32.4% | ||
| Q4 24 | — | -4.4% | ||
| Q3 24 | — | 21.2% | ||
| Q2 24 | — | 27.6% | ||
| Q1 24 | — | -95.0% |
营业利润率OPALSTEM
| Q4 25 | 7.5% | -17.7% | ||
| Q3 25 | 4.6% | -33.6% | ||
| Q2 25 | -1.1% | -34.8% | ||
| Q1 25 | -2.3% | -65.0% | ||
| Q4 24 | -0.5% | -84.4% | ||
| Q3 24 | 14.9% | -493.2% | ||
| Q2 24 | 8.1% | -1705.5% | ||
| Q1 24 | 5.6% | -267.0% |
净利率OPALSTEM
| Q4 25 | 18.3% | -33.9% | ||
| Q3 25 | 14.6% | -62.2% | ||
| Q2 25 | 9.8% | 527.8% | ||
| Q1 25 | 1.5% | -76.9% | ||
| Q4 24 | -7.2% | -91.6% | ||
| Q3 24 | 20.7% | -506.3% | ||
| Q2 24 | 2.7% | -1712.6% | ||
| Q1 24 | 1.1% | -283.9% |
每股收益（稀释后）OPALSTEM
| Q4 25 | $0.08 | $-4.40 | ||
| Q3 25 | $0.05 | $-2.84 | ||
| Q2 25 | $0.03 | $-1.79 | ||
| Q1 25 | $-0.01 | $-0.15 | ||
| Q4 24 | $-0.05 | $-15.29 | ||
| Q3 24 | $0.09 | $-18.24 | ||
| Q2 24 | $-0.01 | $-71.81 | ||
| Q1 24 | $-0.01 | $-0.46 |
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 | $48.9M |
| 总债务越低越好 | $361.3M | — |
| 股东权益账面价值 | $-12.9M | $-249.4M |
| 总资产 | $959.5M | $308.9M |
| 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OPALSTEM
| Q4 25 | $24.4M | $48.9M | ||
| Q3 25 | $29.9M | $43.1M | ||
| Q2 25 | $29.3M | $40.8M | ||
| Q1 25 | $40.1M | $58.6M | ||
| Q4 24 | $24.3M | $56.3M | ||
| Q3 24 | $31.0M | $75.4M | ||
| Q2 24 | $27.6M | $89.6M | ||
| Q1 24 | $34.2M | $112.8M |
总债务OPALSTEM
| Q4 25 | $361.3M | — | ||
| Q3 25 | $351.2M | — | ||
| Q2 25 | $331.6M | — | ||
| Q1 25 | $307.0M | — | ||
| Q4 24 | $307.5M | — | ||
| Q3 24 | $252.9M | — | ||
| Q2 24 | $233.3M | — | ||
| Q1 24 | $208.7M | — |
股东权益OPALSTEM
| Q4 25 | $-12.9M | $-249.4M | ||
| Q3 25 | $7.5M | $-235.7M | ||
| Q2 25 | $-25.0M | $-214.1M | ||
| Q1 25 | $57.1M | $-417.5M | ||
| Q4 24 | $-148.4M | $-398.4M | ||
| Q3 24 | $-180.1M | $-344.1M | ||
| Q2 24 | $-273.0M | $-203.2M | ||
| Q1 24 | $-382.4M | $371.6M |
总资产OPALSTEM
| Q4 25 | $959.5M | $308.9M | ||
| Q3 25 | $916.7M | $362.6M | ||
| Q2 25 | $905.5M | $379.2M | ||
| Q1 25 | $884.9M | $405.1M | ||
| Q4 24 | $881.1M | $437.4M | ||
| Q3 24 | $831.1M | $537.8M | ||
| Q2 24 | $782.3M | $691.5M | ||
| Q1 24 | $750.5M | $1.3B |
负债/权益比OPALSTEM
| Q4 25 | — | — | ||
| Q3 25 | 46.95× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 5.38× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $8.2M |
| 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OPALSTEM
| Q4 25 | $-3.5M | $8.2M | ||
| Q3 25 | $18.2M | $11.4M | ||
| Q2 25 | $-7.9M | $-21.3M | ||
| Q1 25 | $29.7M | $8.5M | ||
| Q4 24 | $-532.0K | $-14.7M | ||
| Q3 24 | $17.7M | $-9.4M | ||
| Q2 24 | $533.0K | $-11.9M | ||
| Q1 24 | $13.7M | $-621.0K |
自由现金流OPALSTEM
| 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 | — |
自由现金流率OPALSTEM
| 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% | — |
资本支出强度OPALSTEM
| 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% | — |
现金转化率OPALSTEM
| Q4 25 | -0.22× | — | ||
| Q3 25 | 1.60× | — | ||
| Q2 25 | -1.04× | -0.11× | ||
| Q1 25 | 23.11× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 1.03× | — | ||
| 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% |
STEM
暂无分部数据
