Opal Fuels Inc. (OPAL) intrinsic value & 10-year financials
Opal Fuels Inc. (OPAL) has a Graham intrinsic value of $3.10 per share. At $1.56 on Oct 17, 2026, the stock trades 50% below that value. Over the last 6 fiscal years revenue grew 19.2% a year to $326.7M, with an average return on invested capital of -2.5%.
- Graham intrinsic value
- $3.10
- Share price (Oct 17, 2026)
- $1.56
- Price vs Graham value
- 50% below
- Market cap
- $45.6M
- Revenue (FY2025)
- $326.7M
- Revenue growth (6-yr CAGR)
- 19.2%
- ROIC (10-yr avg)
- -2.5%
- Free cash flow (FY2025)
- -$34.2M
OPAL 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $326.7M | $36.4M | $0.15 | -$34.2M | 2.3% | 1.6% |
| FY2024 | $290.9M | $14.3M | $0.02 | -$94.2M | 7.3% | -24.0% |
| FY2023 | $251.1M | $127.0M | $0.69 | -$75.6M | 2.8% | -1.3% |
| FY2022 | $230.7M | $32.6M | $0.12 | -$132.8M | 0.8% | -0.6% |
| FY2021 | $162.0M | $40.8M | $0.00 | -$70.8M | 6.8% | 11.7% |
| FY2020 | — | — | — | — | — | — |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
OPAL Fuels Inc. revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.
OPAL Fuels Inc. has historically struggled to out-earn its cost of capital, averaging just -2.5% ROIC.
OPAL Fuels Inc. capital allocation metrics are N/A for the decade; share count and net debt history are incomplete.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, OPAL Fuels Inc. is modeled at 7.7% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $3.10 per share.