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UGI vs Opal Fuels: UGI and OPAL compared
UGI is the larger company: $1.3B of revenue in its latest quarter (Q3 FY26) against $83.4M for Opal Fuels (Q2 2026). Opal Fuels is growing faster (+4% against -4% a year earlier). UGI is more profitable, with an operating margin of -3.3% against -3.6%.
Where the money goes: UGI and OPAL
UGI (UGI) · Q3 FY26
UGI, Q3 FY26: revenue $1.3B (-4% year over year), operating margin -3.3%, net loss $133M, operating cash flow $242M. The chart follows the revenue to costs, profit and cash.
Opal Fuels (OPAL) · Q2 2026
Opal Fuels, Q2 2026: revenue $83.4M (+4% year over year), operating margin -3.6%, net loss $4.1M, operating cash flow $10.8M. The chart follows the revenue to costs, profit and cash.
| UGI (UGI) | Opal Fuels (OPAL) | |
|---|---|---|
| Latest quarter | Q3 FY26 | Q2 2026 |
| Revenue | $1.3B | $83.4M |
| Revenue growth, Y/Y | -4% | +4% |
| Operating margin | -3.3% | -3.6% |
| Net earnings | −$133M | −$4.1M |
| Net margin | -10.0% | -5.0% |
| Operating cash flow | $242M | $10.8M |
| Free cash flow | $16.0M | — |
| Market value | $7.9B | — |
| P/E | 11.8× | — |
| Analysts’ mean target | $43.50 | — |
Where the revenue comes from
UGI
- Total Non-Utility: $1.0B (75%)
- Energy Marketing: $171M (13%)
- Commercial & Industrial: $65.0M (5%)
- Other: $54.0M (4%)
Opal Fuels
- Fuel Station Services: $53.1M (64%)
- RNG fuel: $23.8M (29%)
- Renewable Power Segment: $6.5M (8%)
Questions
Which is bigger, UGI or Opal Fuels?
UGI is the larger company: $1.3B of revenue in its latest quarter (Q3 FY26) against $83.4M for Opal Fuels (Q2 2026).
Is UGI or Opal Fuels growing faster?
Opal Fuels is growing faster (+4% against -4% a year earlier).
Which is more profitable, UGI or Opal Fuels?
UGI is more profitable, with an operating margin of -3.3% against -3.6%.
More: UGI earnings · how UGI makes money · Opal Fuels earnings · how Opal Fuels makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Aug 6, 2026; 10-Q filed Aug 10, 2026). Fiscal quarters can end on different dates. Not investment advice.