OPAL Fuels Inc. (OPAL) Stock

OPAL Fuels Inc. (OPAL) is a Utilities stock trading at $2.15 (as of 2026-08-21), with a market capitalization of $63.73M and a trailing P/E of 85.9. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

OPAL Fuels Inc. produces and distributes renewable natural gas for use as a vehicle fuel for heavy and medium-duty trucking fleets. It also develops, builds, operates, and services natural gas fueling stations, provides hydrogen station design and construction services, and generates and sells renewable power to utilities.

Understand OPAL Fuels Inc.: how it makes money

OPAL Fuels produces and distributes renewable natural gas for heavy and medium-duty trucking and builds and services natural gas fueling stations, it also generates and sells renewable power to utilities, making money from fuel station services plus sales of renewable natural gas and renewable power.

OPAL’s profit model is tied to building and operating fueling infrastructure for natural gas displacement (fuel station services), while also monetizing upstream renewable gas and selling renewable power.

Revenue by segment (latest quarter)
Fuel Stn Svcs$0.1B
RNG$0.0B
Renew Power$0.0B

Business quality (Mixed): Good business clarity from the description, but limited company-specific operating metrics are provided here (the only candidate KPIs are segment revenue labels), and the latest-period operating margin is negative (-6.6%).

Valuation: At 30× earnings, OPAL trades 37% above the Utilities average (22×). Note: one-time items can distort reported P/E.

Bull case

  • Multiple revenue streams linked to transportation fuel infrastructure and energy production: The company provides fuel station design, development, construction, operation, and service, and it also produces and distributes renewable natural gas and sells renewable power to utilities.
  • Existing renewable gas production footprint: As of May 1, 2022, OPAL owned and operated 24 biogas projects.

Bear case

  • Profitability is currently weak based on the latest period shown: For the 2026-03-31 period, operating margin is -6.6%, indicating operating costs exceeded operating results in that period.
  • Results may be exposed to project-based execution risk: OPAL designs, develops, constructs, operates, and services fueling stations (and provides hydrogen fueling station services), which can involve execution and timing challenges that may affect earnings.
Valuation — source: SEC EDGAR (first-party)
Price$2.15
Market Cap$63.73M
P/E Ratio85.9
EV / EBITDA31.8
Price / Book1.68
Price / Sales0.20
FCF Yield-114.2%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$348.98M
Net Margin10.4%
Revenue Growth (YoY)16.3%
EPS Growth (YoY)650.0%
FCF Growth (YoY)-63.7%
Financial Health — source: SEC EDGAR
Altman Z-Score0.45 (distress)
Valuation vs Sector & Industry
Stock P/E85.9
Sector P/E (Utilities)20.8
Industry P/E (Utilities)20.1
vs Sector312.1%
vs Industry327.7%
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderInvesco Ltd. ($8.09M)
Institutional Holders Tracked10
Company
SectorUtilities
IndustryUtilities
CEOAdam J. Comora
Employees341
CountryUS
IPO Date2021-05-24

Related Companies (Business model: Regulated Utility (Electric / Gas); 8 closest by market cap; US-domiciled)

  • Genie Energy Ltd. (GNE)
  • Clean Energy Fuels Corp. (CLNE)
  • Montauk Renewables, Inc. (MNTK)
  • Stabilis Solutions, Inc. (SLNG)
  • Spring Valley Acquisition Corp. III Class A Ordinary Shares (SVAC)
  • Meridian Bioscience, Inc. (VIVO)
  • Ocean Power Technologies, Inc. (OPTT)
  • Spruce Power Holding Corporation (SPRU)
OPAL earnings history · OPAL institutional & insider holders · OPAL KPIs & operating metrics · OPAL financials · OPAL investor presentations & press releases · OPAL SEC filings · OPAL peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-21.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.