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OPAL Fuels Inc.（OPAL）与null（SWIM）财务数据对比。点击上方公司名可切换其他公司
null的季度营收约是OPAL Fuels Inc.的1.1倍（$100.0M vs $88.4M），OPAL Fuels Inc.净利率更高（18.3% vs -7.0%，领先25.3%），OPAL Fuels Inc.同比增速更快（18.7% vs 14.5%），null自由现金流更多（$14.1M vs $-13.4M），过去两年OPAL Fuels Inc.的营收复合增速更高（17.6% vs -4.9%）
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。
该企业是一家源自美国的跨国律师事务所，1934年创立于加利福尼亚州洛杉矶，在诉讼业务、公司法务以及监管合规法律领域拥有深厚的行业积累与知名度，是全球颇具影响力的综合性律所之一。
OPAL vs SWIM — 直观对比
营收规模更大
SWIM
是对方的1.1倍
$88.4M
营收增速更快
OPAL
高出4.2%
14.5%
净利率更高
OPAL
高出25.3%
-7.0%
自由现金流更多
SWIM
多$27.5M
$-13.4M
两年增速更快
OPAL
近两年复合增速
-4.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $88.4M | $100.0M |
| 净利润 | $16.2M | $-7.0M |
| 毛利率 | — | 28.0% |
| 营业利润率 | 7.5% | -10.7% |
| 净利率 | 18.3% | -7.0% |
| 营收同比 | 18.7% | 14.5% |
| 净利润同比 | 401.5% | 76.0% |
| 每股收益（稀释后） | $0.08 | $-0.06 |
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OPALSWIM
| Q4 25 | $88.4M | $100.0M | ||
| Q3 25 | $77.9M | $161.9M | ||
| Q2 25 | $77.4M | $172.6M | ||
| Q1 25 | $83.0M | $111.4M | ||
| Q4 24 | $74.5M | $87.3M | ||
| Q3 24 | $82.6M | $150.5M | ||
| Q2 24 | $69.8M | $160.1M | ||
| Q1 24 | $64.0M | $110.6M |
净利润OPALSWIM
| Q4 25 | $16.2M | $-7.0M | ||
| Q3 25 | $11.4M | $8.1M | ||
| Q2 25 | $7.6M | $16.0M | ||
| Q1 25 | $1.3M | $-6.0M | ||
| Q4 24 | $-5.4M | $-29.2M | ||
| Q3 24 | $17.1M | $5.9M | ||
| Q2 24 | $1.9M | $13.3M | ||
| Q1 24 | $677.0K | $-7.9M |
毛利率OPALSWIM
| Q4 25 | — | 28.0% | ||
| Q3 25 | — | 35.4% | ||
| Q2 25 | — | 37.1% | ||
| Q1 25 | — | 29.5% | ||
| Q4 24 | — | 24.6% | ||
| Q3 24 | — | 32.4% | ||
| Q2 24 | — | 33.1% | ||
| Q1 24 | — | 27.7% |
营业利润率OPALSWIM
| Q4 25 | 7.5% | -10.7% | ||
| Q3 25 | 4.6% | 13.3% | ||
| Q2 25 | -1.1% | 14.3% | ||
| Q1 25 | -2.3% | -4.4% | ||
| Q4 24 | -0.5% | -14.9% | ||
| Q3 24 | 14.9% | 8.9% | ||
| Q2 24 | 8.1% | 12.5% | ||
| Q1 24 | 5.6% | -1.9% |
净利率OPALSWIM
| Q4 25 | 18.3% | -7.0% | ||
| Q3 25 | 14.6% | 5.0% | ||
| Q2 25 | 9.8% | 9.3% | ||
| Q1 25 | 1.5% | -5.4% | ||
| Q4 24 | -7.2% | -33.4% | ||
| Q3 24 | 20.7% | 3.9% | ||
| Q2 24 | 2.7% | 8.3% | ||
| Q1 24 | 1.1% | -7.1% |
每股收益（稀释后）OPALSWIM
| Q4 25 | $0.08 | $-0.06 | ||
| Q3 25 | $0.05 | $0.07 | ||
| Q2 25 | $0.03 | $0.13 | ||
| Q1 25 | $-0.01 | $-0.05 | ||
| Q4 24 | $-0.05 | $-0.24 | ||
| Q3 24 | $0.09 | $0.05 | ||
| Q2 24 | $-0.01 | $0.11 | ||
| Q1 24 | $-0.01 | $-0.07 |
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 | — |
| 总债务越低越好 | $361.3M | $279.8M |
| 股东权益账面价值 | $-12.9M | $405.9M |
| 总资产 | $959.5M | $823.2M |
| 负债/权益比越低杠杆越低 | — | 0.69× |
8季度趋势，按日历期对齐
现金及短期投资OPALSWIM
| Q4 25 | $24.4M | — | ||
| Q3 25 | $29.9M | — | ||
| Q2 25 | $29.3M | — | ||
| Q1 25 | $40.1M | — | ||
| Q4 24 | $24.3M | — | ||
| Q3 24 | $31.0M | — | ||
| Q2 24 | $27.6M | — | ||
| Q1 24 | $34.2M | — |
总债务OPALSWIM
| Q4 25 | $361.3M | $279.8M | ||
| Q3 25 | $351.2M | $281.1M | ||
| Q2 25 | $331.6M | $281.5M | ||
| Q1 25 | $307.0M | $306.9M | ||
| Q4 24 | $307.5M | $281.5M | ||
| Q3 24 | $252.9M | $282.8M | ||
| Q2 24 | $233.3M | $282.4M | ||
| Q1 24 | $208.7M | $282.8M |
股东权益OPALSWIM
| Q4 25 | $-12.9M | $405.9M | ||
| Q3 25 | $7.5M | $408.4M | ||
| Q2 25 | $-25.0M | $398.4M | ||
| Q1 25 | $57.1M | $381.1M | ||
| Q4 24 | $-148.4M | $387.2M | ||
| Q3 24 | $-180.1M | $416.6M | ||
| Q2 24 | $-273.0M | $408.1M | ||
| Q1 24 | $-382.4M | $391.8M |
总资产OPALSWIM
| Q4 25 | $959.5M | $823.2M | ||
| Q3 25 | $916.7M | $844.4M | ||
| Q2 25 | $905.5M | $822.1M | ||
| Q1 25 | $884.9M | $824.6M | ||
| Q4 24 | $881.1M | $794.2M | ||
| Q3 24 | $831.1M | $853.4M | ||
| Q2 24 | $782.3M | $830.0M | ||
| Q1 24 | $750.5M | $808.6M |
负债/权益比OPALSWIM
| Q4 25 | — | 0.69× | ||
| Q3 25 | 46.95× | 0.69× | ||
| Q2 25 | — | 0.71× | ||
| Q1 25 | 5.38× | 0.81× | ||
| Q4 24 | — | 0.73× | ||
| Q3 24 | — | 0.68× | ||
| Q2 24 | — | 0.69× | ||
| Q1 24 | — | 0.72× |
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 | $14.1M |
| 自由现金流率自由现金流/营收 | -15.1% | 14.1% |
| 资本支出强度资本支出/营收 | 11.1% | 9.2% |
| 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 | $38.0M |
8季度趋势，按日历期对齐
经营现金流OPALSWIM
| Q4 25 | $-3.5M | $23.3M | ||
| Q3 25 | $18.2M | $51.0M | ||
| Q2 25 | $-7.9M | $36.0M | ||
| Q1 25 | $29.7M | $-46.9M | ||
| Q4 24 | $-532.0K | $6.2M | ||
| Q3 24 | $17.7M | $37.2M | ||
| Q2 24 | $533.0K | $52.4M | ||
| Q1 24 | $13.7M | $-34.5M |
自由现金流OPALSWIM
| Q4 25 | $-13.4M | $14.1M | ||
| Q3 25 | $-9.3M | $45.2M | ||
| Q2 25 | $-29.7M | $29.1M | ||
| Q1 25 | $18.1M | $-50.3M | ||
| Q4 24 | $-55.0M | $-98.0K | ||
| Q3 24 | $-5.4M | $33.2M | ||
| Q2 24 | $-22.5M | $47.9M | ||
| Q1 24 | $-13.0M | $-39.9M |
自由现金流率OPALSWIM
| Q4 25 | -15.1% | 14.1% | ||
| Q3 25 | -11.9% | 27.9% | ||
| Q2 25 | -38.4% | 16.8% | ||
| Q1 25 | 21.8% | -45.2% | ||
| Q4 24 | -73.8% | -0.1% | ||
| Q3 24 | -6.5% | 22.1% | ||
| Q2 24 | -32.2% | 29.9% | ||
| Q1 24 | -20.4% | -36.0% |
资本支出强度OPALSWIM
| Q4 25 | 11.1% | 9.2% | ||
| Q3 25 | 35.3% | 3.6% | ||
| Q2 25 | 28.2% | 4.0% | ||
| Q1 25 | 13.9% | 3.1% | ||
| Q4 24 | 73.1% | 7.2% | ||
| Q3 24 | 27.9% | 2.7% | ||
| Q2 24 | 32.9% | 2.8% | ||
| Q1 24 | 41.8% | 4.8% |
现金转化率OPALSWIM
| Q4 25 | -0.22× | — | ||
| Q3 25 | 1.60× | 6.29× | ||
| Q2 25 | -1.04× | 2.25× | ||
| Q1 25 | 23.11× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 1.03× | 6.32× | ||
| Q2 24 | 0.28× | 3.95× | ||
| 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% |
SWIM
| In Ground Swimming Pools | $50.2M | 50% |
| Covers | $37.0M | 37% |
| Liners | $12.7M | 13% |
