OPAL Fuels Inc. Class A Common Stock (OPAL)

FairStock Score: 61/100 — STEADY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I am a value investor first. OPAL Fuels is a small utility-like engineering and construction firm, producing renewable natural gas and building fueling stations. The story may sound attractive, but I want facts. From fiscal 2023 to fiscal 2025, revenue rose from $251.1M to $326.7M, yet net income fell from $127.0M to $36.4M and diluted EPS fell from $0.69 to $0.15. In the first half of fiscal 2026, filed results show net losses: $5.6M in the first quarter and $4.1M in the second quarter. That is not the profile of a durable compounder. Returns are weak: FairStock calculations show ROE of 3.60%, ROCE of 0.48%, and P/B of 1.93 at the 2026-10-13 close. Free cash flow is deeply negative at -$51.6M, a -103.7% FCF yield on a $49.8M market cap. The Altman Z-Score of 0.28 suggests financial stress, even with D/E of 0.84. The Piotroski F-Score of 7/9 offers some accounting improvement, and EV/EBITDA of 12.73 is not distressed-cheap if returns stay near zero. A negative P/E of -168 means there are no positive trailing earnings to value. The computed Lynch category is SLOW GROWER: profit 3.8% a year over three years and revenue 12.3%. I see no clear moat; scale is tiny, cash burn is large, and profits are volatile. The price may already discount trouble, but margin of safety is thin without positive free cash flow.

In plain English: OPAL Fuels makes and sells renewable natural gas for trucks and builds fueling stations. The company grew its revenue from fiscal 2023 to fiscal 2025, but profits fell and it burned cash in the last year. At $1.68, the price looks more like a bet on a turnaround than a clear bargain.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer