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Montauk Renewables, Inc.

Montauk Renewables, Inc.

NASDAQ•MNTK
CEO: Mr. Sean F. McClain B.S., CPA, M.B.A.
Sector: Utilities
Industry: Diversified Utilities
Listing Date: 2021-01-22
Montauk Renewables, Inc., a renewable energy company, engages in recovery and processing of biogas from landfills and other non-fossil fuel sources. It operates in two segments, Renewable Natural Gas and Renewable Electricity Generation. The company develops, owns, and operates renewable natural gas (RNG) projects that captures methane and prevents it from being released into the atmosphere by converting it into either RNG or electrical power for the electrical grid. Its customers for RNG and renewable identification numbers (RIN) include large, long-term owner-operators of landfills and livestock farms, local utilities, and large refiners in the natural gas and refining sectors. Montauk Renewables, Inc. was founded in 1980 and is headquartered in Pittsburgh, Pennsylvania.
Contact Information
5313 Campbells Run Road, Suite 200, Pittsburgh, PA, 15205, United States
412-747-8700
www.montaukenergy.com
Market Cap
$243.26M
P/E (TTM)
92.5
16.9
Dividend Yield
--
52W High
$4.96
52W Low
$1.56
52W Range
4%
Rank49Top 53.8%
3.6
F-Score
Modified Piotroski Analysis
Based on 7-year fundamentals
Weak • 3.6 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2018-2024

Financial Dashboard

Q3 2025 Data

Revenue

$45.26M-31.34%
4-Quarter Trend

EPS

$0.04-66.67%
4-Quarter Trend

FCF

-$17.16M-207.12%
4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

Quarterly Revenue Decline Total operating revenues $45.258M, down 31.3% for Q3 2025 versus prior year, driven by lower realized RIN pricing.
Operating Income Plummets Q3 2025 operating income $4.448M, reflecting an 80.4% decrease from $22.708M last year due to lower attribute prices.
RIN Pricing Pressure Evident Average realized RIN price $2.29 in Q3 2025, falling 31.4% compared to $3.34 in Q3 2024, impacting RNG segment revenue.
Balance Sheet Growth Total assets grew to $383.307M as of September 30, 2025, up from $349.015M at year-end 2024, showing asset expansion.

Risk Factors

Regulatory Uncertainty High Profitability highly dependent on Environmental Attribute market prices; EPA actions regarding RFS and LCFS create pricing volatility risks.
RNG Production Delays Landfill host delays impacting wellfield infrastructure installation reduced RNG production volumes by 9.0% in Q3 2025.
Blue Granite Project Paused Blue Granite RNG project paused capital expenditures pending review after utility refused RNG interconnection into its distribution system.
Cash Position Weakened Cash and equivalents decreased to $6.766M as of September 30, 2025, compared to $54.973M at year-end 2024.

Outlook

Capital Development Spending Investing activities used $79.219M cash in 9M 2025, heavily focused on development projects like Montauk Ag and Tulsa conversion.
GreenWave JV Operational GreenWave joint venture began matching available RNG capacity in Q3 2025; increased benefits expected in Q4 2025.
Montauk Ag Revenue Target Montauk Ag Renewables project expects significant revenue generating activities to commence in the first quarter of 2026.
Tulsa Conversion Progressing Tulsa facility conversion to RNG targeted for 2027 commissioning, requiring capital expenditures for long lead time equipment.

Peer Comparison

Revenue (TTM)

Genie Energy Ltd.GNE
$483.28M
+13.1%
Montauk Renewables, Inc.MNTK
$160.68M
-17.5%
Artesian Resources CorporationARTNA
$111.78M
+5.8%

Gross Margin (Latest Quarter)

Pure Cycle CorporationPCYO
63.4%
+1.4pp
Global Water Resources, Inc.GWRS
49.2%
-25.0pp
Ellomay Capital Ltd.ELLO
43.2%
-4.8pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
YORW$478.29M23.88.6%0.0%
CDZI$476.43M-14.2-93.4%24.1%
GNE$375.20M76.82.5%0.5%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
17.8%
Strong Growth
4Q Net Income CAGR
N/M
Profitability Shift
Cash Flow Stability
100%
Strong Cash Flow

Research & Insights

Next earnings:Mar 12, 2026
|
EPS:$0.01
|
Revenue:-
Reports
All Years

  • Form 10-Q - Q3 2025

    Period End: Sep 30, 2025|Filed: Nov 5, 2025|
    Revenue: $45.26M-31.3%
    |
    EPS: $0.04-66.7%
    Beat

  • Form 10-Q - Q2 2025

    Period End: Jun 30, 2025|Filed: Aug 6, 2025|
    Revenue: $45.13M+4.1%
    |
    EPS: $-0.04+668.0%
    Miss

  • Form 10-Q - Q1 2025

    Period End: Mar 31, 2025|Filed: May 8, 2025|
    Revenue: $42.60M+9.8%
    |
    EPS: $-0.00-125.4%
    Miss

  • Form 10-K - FY 2024

    Period End: Dec 31, 2024|Filed: Mar 14, 2025|
    Revenue: $175.74M+0.5%
    |
    EPS: $0.07-37.8%
    Beat

  • Form 10-Q - Q3 2024

    Period End: Sep 30, 2024|Filed: Nov 12, 2024|
    Revenue: $65.92M+18.4%
    |
    EPS: $0.12+31.4%
    Beat

  • Form 10-Q - Q2 2024

    Period End: Jun 30, 2024|Filed: Aug 8, 2024|
    Revenue: $43.34M-18.6%
    |
    EPS: $-0.01-170.4%
    Miss

  • Form 10-Q - Q1 2024

    Period End: Mar 31, 2024|Filed: May 9, 2024|
    Revenue: $38.79M+102.5%
    |
    EPS: $0.01-148.7%
    Meet

  • Form 10-K - FY 2023

    Period End: Dec 31, 2023|Filed: Mar 14, 2024|
    Revenue: $174.90M-14.9%
    |
    EPS: $0.11-56.0%
    Beat