WallStSmart

NiSource Inc (NI)vsOPAL Fuels Inc (OPAL)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

NiSource Inc generates 1803% more annual revenue ($6.64B vs $348.98M). NI leads profitability with a 14.0% profit margin vs 4.2%. OPAL trades at a lower P/E of 13.7x. NI earns a higher WallStSmart Score of 62/100 (C+).

NI

Buy

62

out of 100

Grade: C+

Growth: 6.0Profit: 7.0Value: 8.7Quality: 3.8
Piotroski: 4/9Altman Z: 0.59

OPAL

Hold

37

out of 100

Grade: F

Growth: 6.0Profit: 4.5Value: 5.7Quality: 3.0
Piotroski: 2/9Altman Z: 0.89
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

NIUndervalued (+6.7%)

Margin of Safety

+6.7%

Fair Value

$47.89

Current Price

$45.68

$2.21 discount

UndervaluedFair: $47.89Overvalued
OPALSignificantly Overvalued (-132.3%)

Margin of Safety

-132.3%

Fair Value

$1.02

Current Price

$2.28

$1.26 premium

UndervaluedFair: $1.02Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

NI3 strengths · Avg: 8.0/10
Price/BookValuation
2.3x8/10

Reasonable price relative to book value

Operating MarginProfitability
27.0%8/10

Strong operational efficiency at 27.0%

Revenue GrowthGrowth
19.8%8/10

19.8% revenue growth

OPAL2 strengths · Avg: 8.0/10
P/E RatioValuation
13.7x8/10

Attractively priced relative to earnings

Revenue GrowthGrowth
24.7%8/10

Revenue surging 24.7% year-over-year

Areas to Watch

NI3 concerns · Avg: 2.7/10
PEG RatioValuation
2.204/10

Expensive relative to growth rate

Free Cash FlowQuality
$-133.70M2/10

Negative free cash flow — burning cash

Altman Z-ScoreHealth
0.592/10

Distress zone — elevated risk

OPAL4 concerns · Avg: 3.0/10
Market CapQuality
$357.20M3/10

Smaller company, higher risk/reward

Return on EquityProfitability
7.6%3/10

ROE of 7.6% — below average capital efficiency

Profit MarginProfitability
4.2%3/10

4.2% margin — thin

Piotroski F-ScoreQuality
2/93/10

Weak financial health signals

Comparative Analysis Report

WallStSmart Research

Bull Case : NI

The strongest argument for NI centers on Price/Book, Operating Margin, Revenue Growth. Revenue growth of 19.8% demonstrates continued momentum.

Bull Case : OPAL

The strongest argument for OPAL centers on P/E Ratio, Revenue Growth. Revenue growth of 24.7% demonstrates continued momentum.

Bear Case : NI

The primary concerns for NI are PEG Ratio, Free Cash Flow, Altman Z-Score.

Bear Case : OPAL

The primary concerns for OPAL are Market Cap, Return on Equity, Profit Margin. Debt-to-equity of 47.27 is elevated, increasing financial risk. Thin 4.2% margins leave little buffer for downturns.

Key Dynamics to Monitor

OPAL carries more volatility with a beta of 1.08 — expect wider price swings.

OPAL is growing revenue faster at 24.7% — sustainability is the question.

OPAL generates stronger free cash flow (-8M), providing more financial flexibility.

Monitor UTILITIES - REGULATED GAS industry trends, competitive dynamics, and regulatory changes.

Bottom Line

NI scores higher overall (62/100 vs 37/100) and 19.8% revenue growth. Both earn "Buy" and "Hold" ratings respectively — the choice depends on your investment horizon and risk tolerance.

This analysis is generated from publicly available financial data. Not financial advice.

NiSource Inc

UTILITIES · UTILITIES - REGULATED GAS · USA

NiSource Inc. is one of the largest fully regulated utility companies in the United States. The company is based in Merrillville, Indiana.

OPAL Fuels Inc

UTILITIES · UTILITIES - REGULATED GAS · USA

OPAL Fuels Inc. is a leading company in the renewable natural gas (RNG) industry, focused on transforming organic waste into sustainable energy solutions that contribute to a low-carbon economy. With a diverse array of RNG production facilities and key strategic partnerships, OPAL is well-positioned to enhance its market footprint and drive growth. By leveraging advanced technologies and innovative practices, the company not only meets the increasing demand for eco-friendly energy alternatives but also aims to generate significant value in the rapidly evolving energy sector.

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