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OPAL Fuels Valuation Multiples

Discover revenue and EBITDA valuation multiples for OPAL Fuels and similar public comparables like AGL Energy, TAQA, and ADNOC Drilling Company.

OPAL Fuels Overview

About OPAL Fuels

OPAL Fuels Inc is a fully integrated, nationwide leader in the production and distribution of low-carbon intensity renewable natural gas. The company is also engaged in the marketing and distribution of RNG to heavy-duty trucking and other hard-to-de-carbonize industrial sectors. The company designs, develops, constructs, operates, and services Fueling Stations for trucking fleets across the country that use natural gas to displace diesel as their transportation fuel. The company derives revenue from the sale of Renewable Power, design, development, construction, and service of Fueling Stations, and sales of RNG produced by OPAL and third parties as pipeline-quality natural gas.


Founded

2021

HQ

United States of America
Employees

342

Website

opalfuels.com

Financials

LTM Revenue $318M

LTM EBITDA $94.0M

EV

$323M

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OPAL Fuels Financials

OPAL Fuels has a last 12-month revenue of $318M and a last 12-month EBITDA of $94.0M.

In the most recent fiscal year, OPAL Fuels achieved revenue of $300M and an EBITDA of $41.0M.

OPAL Fuels expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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OPAL Fuels P&L

FY 2023 FY 2024 FY 2025 LTM NTM
Revenue $256M $300M XXX XXX XXX
Gross Profit $63.5M $72.2M XXX XXX XXX
Gross Margin 25% 24% XXX XXX XXX
EBITDA $151M $41.0M XXX XXX XXX
EBITDA Margin 59% 14% XXX XXX XXX
Net Profit $11.3M $29.9M XXX XXX XXX
Net Margin 4% 10% XXX XXX XXX
Net Debt $127M $160M XXX XXX XXX

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OPAL Fuels Stock Performance

As of April 15, 2025, OPAL Fuels's stock price is $1.

OPAL Fuels has current market cap of $37.0M, and EV of $323M.

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OPAL Fuels Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$323M $37.0M XXX XXX XXX XXX $0.16

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OPAL Fuels Valuation Multiples

As of April 15, 2025, OPAL Fuels has market cap of $37.0M and EV of $323M.

OPAL Fuels's trades at 1.0x LTM EV/Revenue multiple, and 3.4x LTM EBITDA.

Analysts estimate OPAL Fuels's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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OPAL Fuels Financial Valuation Multiples

FY 2024 FY 2025E FY 2026E FY 2027E
EV $323M XXX XXX XXX
EV/Revenue 1.1x XXX XXX XXX
EV/EBITDA 7.9x XXX XXX XXX
P/E 3.4x XXX XXX XXX
P/E/Growth 0.0x XXX XXX XXX
EV/FCF -3.4x XXX XXX XXX

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OPAL Fuels Valuation Multiples

OPAL Fuels's NTM/LTM revenue growth is 21%

OPAL Fuels's revenue per employee for the last fiscal year averaged $0.9M, while opex per employee averaged $0.2M for the same period.

Over next 12 months, OPAL Fuels's ratio of sales and marketing spend to revenue is estimated to be  XXX , while its R&D spend to revenue to be  XXX .

Analysts estimate OPAL Fuels's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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OPAL Fuels Operational Valuation Multiples

FY 2024 NTM FY 2025E FY 2026E FY 2027E
Revenue Growth 17% XXX XXX XXX XXX
EBITDA Margin 14% XXX XXX XXX XXX
EBITDA Growth -73% XXX XXX XXX XXX
Rule of 40 (SaaS-only) 35% XXX XXX XXX XXX
Revenue per Employee $0.9M XXX XXX XXX XXX
Opex per Employee $0.2M XXX XXX XXX XXX
S&M Expenses to Revenue n/a XXX XXX XXX XXX
G&A Expenses to Revenue n/a XXX XXX XXX XXX
R&D Expenses to Revenue n/a XXX XXX XXX XXX
Opex to Revenue 24% XXX XXX XXX XXX

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OPAL Fuels Public Comps

See public comps and valuation multiples for Energy Exploration & Generation and Energy Services comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
ADNOC Drilling Company XXX XXX XXX XXX XXX XXX
ADNOC Gas XXX XXX XXX XXX XXX XXX
Dana Gas XXX XXX XXX XXX XXX XXX
TAQA XXX XXX XXX XXX XXX XXX
AGL Energy XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

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OPAL Fuels M&A and Investment Activity

OPAL Fuels acquired  XXX companies to date.

Last acquisition by OPAL Fuels was  XXXXXXXX, XXXXX XXXXX XXXXXX . OPAL Fuels acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by OPAL Fuels

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About OPAL Fuels

When was OPAL Fuels founded? OPAL Fuels was founded in 2021.
Where is OPAL Fuels headquartered? OPAL Fuels is headquartered in United States of America.
How many employees does OPAL Fuels have? As of today, OPAL Fuels has 342 employees.
Who is the CEO of OPAL Fuels? OPAL Fuels's CEO is Mr. Jonathan Maurer.
Is OPAL Fuels publicy listed? Yes, OPAL Fuels is a public company listed on NAS.
What is the stock symbol of OPAL Fuels? OPAL Fuels trades under OPAL ticker.
When did OPAL Fuels go public? OPAL Fuels went public in 2022.
Who are competitors of OPAL Fuels? Similar companies to OPAL Fuels include e.g. ADNOC Drilling Company, ADNOC Gas, Dana Gas, TAQA.
What is the current market cap of OPAL Fuels? OPAL Fuels's current market cap is $37.0M
What is the current revenue of OPAL Fuels? OPAL Fuels's last 12-month revenue is $318M.
What is the current EBITDA of OPAL Fuels? OPAL Fuels's last 12-month EBITDA is $94.0M.
What is the current EV/Revenue multiple of OPAL Fuels? Current revenue multiple of OPAL Fuels is 1.0x.
What is the current EV/EBITDA multiple of OPAL Fuels? Current EBITDA multiple of OPAL Fuels is 3.4x.
What is the current revenue growth of OPAL Fuels? OPAL Fuels revenue growth between 2023 and 2024 was 17%.
Is OPAL Fuels profitable? Yes, OPAL Fuels is EBITDA-positive (as of the last 12 months).

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