OPAL Fuels Inc. (OPAL) Key Metrics
OPAL valuation today
Trailing 12 months · as of October 17, 2026- Market cap
- $272.5M
- Enterprise value
- $396.7M
- P/E (TTM)
- — 10-yr median 6.8
- Forward P/E
- 3.8
- PEG ratio
- —
- Price / sales
- 0.8 10-yr median 0.6
- Price / book
- 2.1
- EV / EBITDA
- 13.7 10-yr median 7.6
- Dividend yield
- —
- Beta
- 0.79
OPAL key metrics, 2019–2025
Fiscal year ended December 31, 2025 · U.S. dollarsOPAL valuation Price multiples at each fiscal year-end price.
OPAL returns How much profit the business earns on the capital it uses.
OPAL per-share figures Results divided by the shares outstanding at year-end.
OPAL financial health Debt, liquidity and how easily interest is covered.
OPAL efficiency & capital use Working capital cycle and where the cash goes.
OPAL valuation history
OPAL returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
OPAL debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
OPAL cash returned to shareholders
OPAL price vs earnings per share
OPAL key metrics
2019–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|
| Valuation | |||||||
| Market capitalization | $68.9M | $93.9M | $151.8M | $189.7M | $251.2M | — | — |
| Enterprise value | $409.9M | $380.1M | $314.2M | $264.0M | $441.0M | — | — |
| P/E ratio | 4.7 | 8.5 | 5.1 | 16.8 | — | — | — |
| Price / sales | 0.2 | 0.3 | 0.6 | 0.8 | 1.5 | — | — |
| Price / operating cash flow | 1.9 | 2.8 | 4.0 | — | 13.3 | — | — |
| EV / sales | 1.2 | 1.3 | 1.2 | 1.1 | 2.7 | — | — |
| EV / EBITDA | 11.9 | 8.4 | 2.1 | 5.0 | 7.6 | — | — |
| Earnings yield | 21.4% | 11.7% | 19.7% | 6.0% | 0.1% | — | — |
| Free cash flow yield | −49.7% | −100.3% | −49.8% | −70.0% | −28.2% | — | — |
| Dividend yield | 15.2% | 13.9% | 10.9% | 0.0% | 1.5% | — | — |
| Shareholder yield (dividends + buybacks) | 15.2% | 13.9% | 21.7% | 0.0% | 1.5% | — | — |
| Share price at fiscal year-end | $2.35 | $3.39 | $5.52 | $7.28 | $9.98 | — | — |
| Per share | |||||||
| Revenue per share | $11.93 | $10.83 | $9.32 | $9.04 | $6.60 | $4.68 | $4.76 |
| Earnings per share | $0.50 | $0.40 | $1.09 | $0.43 | $0.01 | −$1.01 | −$0.21 |
| Operating cash flow per share | $1.25 | $1.19 | $1.39 | −$0.05 | $0.75 | $0.09 | $0.17 |
| Free cash flow per share | −$1.17 | −$3.40 | −$2.75 | −$5.09 | −$2.81 | −$0.90 | −$0.05 |
| Cash per share | $0.83 | $0.88 | $1.75 | $4.04 | $1.56 | $0.51 | $0.43 |
| Book value per share | −$0.44 | −$5.36 | −$17.41 | −$30.72 | $0.00 | $0.94 | $0.79 |
| Tangible book value per share | −$2.31 | −$7.38 | −$19.64 | −$32.90 | −$2.28 | $0.67 | $0.47 |
| Dividends per share | $0.36 | $0.47 | $0.60 | $0.00 | $0.15 | $0.03 | $0.02 |
| Capex per share | $2.42 | $4.59 | $4.14 | $5.04 | $3.56 | $0.99 | $0.22 |
| Debt per share | $12.49 | $11.21 | $7.66 | $6.89 | $9.10 | $4.12 | $4.56 |
| Shares outstanding | 29.3M | 27.7M | 27.5M | 26.1M | 25.2M | 25.2M | 25.2M |
| Change in shares outstanding | +5.6% | +0.7% | +5.5% | +3.5% | 0.0% | 0.0% | — |
| Returns & profitability | |||||||
| Return on equity (ROE) | — | — | — | — | 1.8% | −116.4% | −26.5% |
| Return on invested capital (ROIC) | 1.6% | — | — | — | 5.8% | −11.8% | 3.2% |
| Return on assets (ROA) | 1.6% | 1.3% | 4.3% | 2.2% | 0.1% | −15.1% | −3.2% |
| Return on tangible assets | 1.6% | 1.3% | 4.3% | 1.9% | 0.1% | −15.6% | −3.3% |
| Free cash flow margin | −9.8% | −31.4% | −29.5% | −56.4% | −42.6% | −19.2% | −1.0% |
| Income quality (OCF / net income) | 2.47 | 2.99 | 1.28 | −0.12 | 89.79 | — | — |
| Financial health | |||||||
| Total debt | $365.4M | $310.6M | $210.6M | $179.7M | $229.1M | $103.8M | $114.8M |
| Cash & short-term investments | $24.4M | $24.3M | $48.2M | $105.4M | $39.3M | $12.8M | $10.9M |
| Net debt | $341.0M | $286.2M | $162.4M | $74.3M | $189.8M | $91.0M | $103.9M |
| Debt / equity | — | — | — | — | — | 4.37 | 5.80 |
| Debt / assets | 0.38 | 0.35 | 0.28 | 0.28 | 0.60 | 0.61 | 0.69 |
| Net debt / EBITDA | 9.91 | 6.29 | 1.08 | 1.39 | 3.26 | 12.73 | 11.51 |
| Current ratio | 1.18 | 1.13 | 1.72 | 1.39 | 0.61 | 1.19 | 0.92 |
| Quick ratio | 1.07 | 1.03 | 1.59 | 1.34 | 0.58 | 1.10 | 0.85 |
| Interest coverage | 0.2 | 0.5 | 0.1 | 0.3 | 1.5 | -2.3 | 0.8 |
| Working capital | $18.5M | $13.6M | $53.7M | $59.1M | −$55.1M | $8.3M | −$4.2M |
| Invested capital | $328.1M | $137.8M | −$316.4M | −$726.3M | $189.8M | $114.8M | $123.7M |
| Tangible asset value | $443.1M | $409.1M | $396.4M | $321.0M | $37.5M | $23.6M | $11.8M |
| Net current asset value | −$339.0M | −$298.9M | −$169.1M | −$55.1M | −$198.9M | −$87.8M | −$98.0M |
| Graham number | — | — | — | — | $0.01 | — | — |
| Graham net-net per share | −$12.88 | −$12.23 | −$7.27 | −$4.41 | −$8.61 | −$4.11 | −$4.51 |
| Capital allocation | |||||||
| Dividends paid | $10.5M | $13.1M | $16.5M | $0 | $3.7M | $852,000 | $404,000 |
| Share buybacks (net) | — | $0 | $16.4M | $0 | — | — | — |
| Dividend payout ratio | 71.0% | 118.6% | 55.2% | 0.0% | — | — | — |
| Capex / revenue | 20.3% | 42.4% | 44.4% | 55.8% | 54.0% | 21.2% | 4.6% |
| Capex / operating cash flow | 193.8% | 385.2% | 297.4% | — | 475.4% | 1,090.5% | 127.1% |
| Capex / depreciation | 3.04 | 6.85 | 7.75 | 9.53 | 8.90 | 3.06 | 0.70 |
| Stock-based compensation / revenue | 1.9% | 2.2% | 2.3% | 0.6% | 0.4% | 0.4% | 0.3% |
| R&D / revenue | 4.3% | — | 1.9% | 2.7% | — | — | — |
| SG&A / revenue | 18.3% | 17.7% | 21.8% | 20.6% | 3.0% | 17.4% | 14.9% |
| Efficiency | |||||||
| Days sales outstanding | 71.8 | 74.5 | 82.6 | 72.6 | 70.1 | 83.5 | 80.2 |
| Days of inventory on hand | 16.0 | 18.7 | 17.4 | 14.0 | 14.9 | 16.3 | 15.2 |
| Days payables outstanding | 19.9 | 27.7 | 31.3 | 33.9 | 33.7 | 33.7 | 31.9 |
| Cash conversion cycle (days) | 67.9 | 65.5 | 68.6 | 52.7 | 51.2 | 66.1 | 63.6 |
| Receivables turnover | 5.08 | 4.90 | 4.42 | 5.03 | 5.21 | 4.37 | 4.55 |
| Payables turnover | 18.34 | 13.18 | 11.66 | 10.77 | 10.82 | 10.84 | 11.46 |
| Inventory turnover | 22.84 | 19.51 | 21.01 | 26.14 | 24.52 | 22.43 | 24.01 |
| Asset turnover | 0.38 | 0.37 | 0.37 | 0.46 | 0.60 | 0.70 | 0.72 |
| Average receivables | $68.7M | $61.2M | $57.9M | $46.8M | $31.9M | $26.9M | $26.3M |
| Average payables | $13.2M | $15.2M | $15.8M | $15.1M | $10.6M | $8.3M | $7.9M |
| Average inventory | $10.6M | $10.2M | $8.8M | $6.2M | $4.7M | $4.0M | $3.8M |
| Intangibles / total assets | 5.7% | 6.3% | 8.1% | 8.8% | 15.1% | 4.1% | 4.8% |
Computed from OPAL's annual financial statements (latest annual report filed March 16, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
OPAL valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), OPAL Fuels traded at 4.7 times earnings, against a 7-year median of 6.8. OPAL Fuels earned a return on invested capital of 1.6% in fiscal 2025. It ended the year with $365.4 million of debt and $24.4 million in cash and short-term investments, net debt of $341.0 million. It returned $10.5 million to shareholders: $10.5 million in dividends and $0 in share buybacks. The share count rose 16.2% from 25.2M to 29.3M over 6 years.
See the OPAL income statement, the OPAL chart for price history, or the OPAL stock overview for the latest quote and news.
OPAL key metrics FAQ
What is OPAL Fuels's P/E ratio?
OPAL Fuels traded at 4.7 times earnings at the end of fiscal 2025.
What is OPAL Fuels's EV/EBITDA?
OPAL Fuels's enterprise value was 11.9 times EBITDA at the end of fiscal 2025 (enterprise value $409.9 million, EBITDA $34.4 million); the current EV/EBITDA is 13.7.
What is OPAL Fuels's ROIC?
OPAL Fuels's return on invested capital was 1.6% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does OPAL Fuels have?
OPAL Fuels had total debt of $365.4 million at the end of fiscal 2025 and $341.0 million of net debt (9.91 times EBITDA).
What is OPAL Fuels's dividend yield?
OPAL Fuels paid $10.5 million in dividends in fiscal 2025 ($0.36 per share), a payout ratio of 71.0%.
What is OPAL Fuels's free cash flow yield?
OPAL Fuels generated -$34.2 million of free cash flow in fiscal 2025, a free cash flow yield of −49.7% on its market value at year-end ($68.9 million).
What is OPAL Fuels's current ratio?
OPAL Fuels's current ratio was 1.18 at the end of fiscal 2025: current assets were 1.18 times current liabilities.