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Companies / Utilities / OPAL Fuels Inc.
OPAL

OPAL Fuels Inc.

UtilitiesElectric, Gas & Water
Ticker OPALBOSTON, MAFiscal year ends DecemberBook value per share $0.91Diluted shares 29.0M

OPAL Fuels Inc. (Nasdaq: OPAL) captures biogas from landfills and dairy farms and converts it into renewable natural gas (RNG) and renewable power. It also markets and dispenses RNG as transportation fuel, primarily to heavy- and medium-duty trucking fleets, and designs, builds, operates and services fueling stations… From the company’s description.

Over the twelve months to Jun 30, 2026, OPAL Fuels Inc. reported revenue of $339.89M, up 3.0% from a year earlier, and net income of $17.83M. Its operating margin was 0.7%, and operations generated $38.37M in cash. In fiscal 2025, it reported revenue of $348.98M, up 16.3% from fiscal 2024, and net income of $36.41M.

Fiscal year 2025 · ends 12-31Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-06-30
Sales & profitability
$348.98MFY2025
+16.3% year over year
Last 12 mo $339.89M
2.12%FY2025
−5 percentage points
Last 12 mo 0.69%
$36.41MFY2025
+154.2% year over year
Last 12 mo $17.83M
-114.09%FY2025
−106.7 percentage points
Last 12 mo 70.95%
Cash & financing
$36.50MFY2025
+10.5% year over year
Last 12 mo $38.37M
$-34.24MFY2025
+63.7% year over year
Last 12 mo $-51.64M
-27.23FY2025
Was -1.99× a year earlier
Last 12 mo 16.38
29.3MFY2025
+5.6% year over year
Last 12 mo 29.0M

Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.

What OPAL Fuels Inc. does

In the company’s own words

OPAL Fuels Inc. (Nasdaq: OPAL) captures biogas from landfills and dairy farms and converts it into renewable natural gas (RNG) and renewable power. It also markets and dispenses RNG as transportation fuel, primarily to heavy- and medium-duty trucking fleets, and designs, builds, operates and services fueling stations for fleet customers. Revenue sources include environmental attributes generated when RNG is dispensed, sales of RNG and renewable power, and fueling-station construction and services. The company’s activities span biogas conversion and RNG dispensing and monetization, connecting production with transportation-fuel customers and buyers of environmental credits. As of December 31, 2025, OPAL owned and operated 27 projects: 12 RNG projects and 15 renewable-power projects. During 2025, it dispensed 74 million gasoline gallon equivalents of RNG to the transportation market through its U.S. fueling-station network. The company has participated in the biogas-to-energy industry for more than 20 years and also pursues hydrogen fueling-station design and construction.

Company details
Sector
Utilities
Industry (SIC)
Electric, Gas & Water
Headquarters
BOSTON, MA
Fiscal year end
December
CIK
1842279
SIC
4932

Financial performance, year by year

Fiscal 2022–2025 · USD
$-34.90M$69.79M$174.49M$279.18M$383.87M2022202320242025Last 12 moLast 12 monthsLast 12 months

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns OPAL Fuels Inc. — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

70
funds hold it
0 of 35
superinvestors hold it
$12.35M
held by funds, at market
18.6%
of shares held by funds

Largest fund holders · OPAL Fuels Inc.’s weight in each

Invesco WilderHill Clean Energy ETF
PBW · Invesco Exchange-Traded Fund Trust
—of fund net assets
VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.00%of fund net assets
iShares Russell 2000 ETF
IWM · iShares Trust
0.00%of fund net assets
VANGUARD EXTENDED MARKET INDEX FUND
VXF · VANGUARD INDEX FUNDS
0.00%of fund net assets
Inspire Small/Mid Cap ETF
ISMD · Northern Lights Fund Trust IV
—of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

Connected research

Put this business in context.

Compare this company with peers, find it in your funds and follow its financial history with your connected AI:

  • “How do OPAL Fuels Inc. and its peers compare on margins and cash generation over ten years?”
  • “Where did five years of OPAL Fuels Inc.'s earnings go — cash, debt, buybacks, reinvestment?”
  • “What changed in OPAL Fuels Inc.'s last four quarterly filings that the numbers alone won't show?”
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