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OPAL Fuels Valuation Multiples
Discover revenue and EBITDA valuation multiples for OPAL Fuels and similar public comparables like Concord Enviro, Energy Solar Tech, Iniziative Bresciane, Columbus Energy and more.
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
Employees
342
Website
Financials (LTM)
EV
$402M
OPAL Fuels Financials
OPAL Fuels reported last 12-month revenue of $364M and EBITDA of $94M.
In the same LTM period, OPAL Fuels generated $111M in gross profit, $94M in EBITDA, and $11M in net income.
Revenue (LTM)
OPAL Fuels P&L
In the most recent fiscal year, OPAL Fuels reported revenue of $349M and EBITDA of $90M.
OPAL Fuels expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $364M | XXX | $349M | XXX | XXX | XXX |
| Gross Profit | $111M | XXX | $106M | XXX | XXX | XXX |
| Gross Margin | 31% | XXX | 30% | XXX | XXX | XXX |
| EBITDA | $94M | XXX | $90M | XXX | XXX | XXX |
| EBITDA Margin | 26% | XXX | 26% | XXX | XXX | XXX |
| EBIT Margin | 7% | XXX | 5% | XXX | XXX | XXX |
| Net Profit | $11M | XXX | $15M | XXX | XXX | XXX |
| Net Margin | 3% | XXX | 4% | XXX | XXX | XXX |
| Net Debt | — | — | $328M | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
OPAL Fuels Stock Performance
OPAL Fuels has current market cap of $74M, and enterprise value of $402M.
Market Cap Evolution
OPAL Fuels' stock price is $2.56.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $402M | $74M | 0.0% | XXX | XXX | XXX | $0.51 |
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Start Free TrialOPAL Fuels Valuation Multiples
OPAL Fuels trades at 1.1x EV/Revenue multiple, and 4.3x EV/EBITDA.
EV / Revenue (LTM)
OPAL Fuels Financial Valuation Multiples
As of April 20, 2026, OPAL Fuels has market cap of $74M and EV of $402M.
Equity research analysts estimate OPAL Fuels' 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
OPAL Fuels has a P/E ratio of 6.8x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $74M | XXX | $74M | XXX | XXX | XXX |
| EV (current) | $402M | XXX | $402M | XXX | XXX | XXX |
| EV/Revenue | 1.1x | XXX | 1.2x | XXX | XXX | XXX |
| EV/EBITDA | 4.3x | XXX | 4.5x | XXX | XXX | XXX |
| EV/EBIT | 15.6x | XXX | 22.3x | XXX | XXX | XXX |
| EV/Gross Profit | 3.6x | XXX | 3.8x | XXX | XXX | XXX |
| P/E | 6.8x | XXX | 5.0x | XXX | XXX | XXX |
| EV/FCF | (6.1x) | XXX | (11.7x) | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified OPAL Fuels Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
OPAL Fuels Margins & Growth Rates
OPAL Fuels' revenue in the last 12 month grew by 13%.
OPAL Fuels' revenue per employee in the last FY averaged $1.0M, while opex per employee averaged $0.3M for the same period.
OPAL Fuels' rule of 40 is 40% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
OPAL Fuels' rule of X is 62% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
OPAL Fuels Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 13% | XXX | 15% | XXX | XXX | XXX |
| EBITDA Margin | 26% | XXX | 26% | XXX | XXX | XXX |
| EBITDA Growth | 14% | XXX | 12% | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 40% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 62% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $1.0M | XXX | XXX | XXX |
| Opex per Employee | — | XXX | $0.3M | XXX | XXX | XXX |
| G&A Expenses to Revenue | 18% | XXX | 18% | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 29% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
OPAL Fuels Public Comps
See public comps and valuation multiples for other Energy Production and Energy Services comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| OPAL Fuels | XXX | XXX | XXX | XXX | XXX | XXX |
| Concord Enviro | XXX | XXX | XXX | XXX | XXX | XXX |
| Energy Solar Tech | XXX | XXX | XXX | XXX | XXX | XXX |
| Iniziative Bresciane | XXX | XXX | XXX | XXX | XXX | XXX |
| Columbus Energy | XXX | XXX | XXX | XXX | XXX | XXX |
| Awilco LNG | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
OPAL Fuels M&A Activity
OPAL Fuels acquired XXX companies to date.
Last acquisition by OPAL Fuels was on XXXXXXXX, XXXXX. OPAL Fuels acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by OPAL Fuels
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialOPAL Fuels Investment Activity
OPAL Fuels invested in XXX companies to date.
OPAL Fuels made its latest investment on XXXXXXXX, XXXXX. OPAL Fuels invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by OPAL Fuels
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout 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. |
| How many employees does OPAL Fuels have? | As of today, OPAL Fuels has over 342 employees. |
| Who is the CEO of OPAL Fuels? | OPAL Fuels' CEO is Jonathan Maurer. |
| Is OPAL Fuels publicly listed? | Yes, OPAL Fuels is a public company listed on Nasdaq. |
| 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? | OPAL Fuels main competitors are Concord Enviro, Energy Solar Tech, Iniziative Bresciane, Columbus Energy. |
| What is the current market cap of OPAL Fuels? | OPAL Fuels' current market cap is $74M. |
| What is the current revenue of OPAL Fuels? | OPAL Fuels' last 12 months revenue is $364M. |
| What is the current revenue growth of OPAL Fuels? | OPAL Fuels revenue growth (NTM/LTM) is 13%. |
| What is the current EV/Revenue multiple of OPAL Fuels? | Current revenue multiple of OPAL Fuels is 1.1x. |
| Is OPAL Fuels profitable? | Yes, OPAL Fuels is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of OPAL Fuels? | OPAL Fuels' last 12 months EBITDA is $94M. |
| What is OPAL Fuels' EBITDA margin? | OPAL Fuels' last 12 months EBITDA margin is 26%. |
| What is the current EV/EBITDA multiple of OPAL Fuels? | Current EBITDA multiple of OPAL Fuels is 4.3x. |
| What is the current FCF of OPAL Fuels? | OPAL Fuels' last 12 months FCF is ($66M). |
| What is OPAL Fuels' FCF margin? | OPAL Fuels' last 12 months FCF margin is (18%). |
| What is the current EV/FCF multiple of OPAL Fuels? | Current FCF multiple of OPAL Fuels is (6.1x). |
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