# Montauk Renewables Inc. (MNTK)

**Exchange:** NASDAQ  
**Sector:** Basic Materials  
**Market cap:** $231M  
**Price:** $1.61 (-3.87%)

> Montauk Renewables Inc. is a renewable energy company specializing in the recovery and conversion of biogas into renewable natural gas (RNG) and renewable electricity. The company captures methane from landfills and other non-fossil fuel sources, preventing its atmospheric release while converting it into clean energy alternatives. Montauk operates through two primary business segments: Renewable Natural Gas, which generates the majority of revenues, and Renewable Electricity Generation. The company develops, owns, and operates facilities across multiple U.S. states including California, Idaho, Ohio, Oklahoma, Pennsylvania, North Carolina, South Carolina, and Texas. Montauk's business model centers on securing biogas feedstock rights, developing conversion infrastructure, and monetizing environmental attributes such as Renewable Identification Numbers (RINs) under federal and state renewable energy programs. The company serves diverse customers including landfill operators, livestock farms, local utilities, and refiners in the natural gas and refining sectors. By providing renewable alternatives to fossil fuels for transportation and electrical power generation, Montauk addresses the growing demand for sustainable energy solutions while supporting regulatory compliance with renewable fuel standards.

## Income Statement (Annual, USD)

| Fiscal Year | Revenue | Gross Profit | Operating Income | Net Income | EPS (dil.) |
| --- | --- | --- | --- | --- | --- |
| 2025 | $176M | — | $852,000 | $2M | — |
| 2024 | $176M | — | $16M | $10M | — |
| 2023 | $175M | $45M | $24M | $15M | — |
| 2022 | $213M | $66M | $45M | $35M | — |
| 2021 | $148M | $25M | $3M | -$5M | — |
| 2020 | $100M | $25M | $4M | $5M | — |
| 2019 | $104M | $31M | $11M | $6M | — |

## Balance Sheet (Annual, USD)

| Fiscal Year | Total Assets | Total Liabilities | Equity | Cash | Long-term Debt |
| --- | --- | --- | --- | --- | --- |
| 2025 | $435M | $172M | $263M | $24M | $126M |
| 2024 | $349M | $92M | $257M | $46M | $44M |
| 2023 | $350M | $100M | $250M | $74M | $56M |
| 2022 | $332M | $105M | $227M | $105M | $64M |
| 2021 | $286M | $104M | $182M | $53M | $71M |
| 2020 | $253M | $94M | $160M | $21M | $56M |
| 2019 | $244M | $89M | $154M | $10M | — |

## Cash Flow (Annual, USD)

| Fiscal Year | Operating Cash Flow | CapEx | Free Cash Flow |
| --- | --- | --- | --- |
| 2025 | $30M | $117M | -$86M |
| 2024 | $44M | $62M | -$19M |
| 2023 | $41M | $63M | -$22M |
| 2022 | $81M | $22M | $59M |
| 2021 | $43M | $10M | $33M |
| 2020 | $29M | — | — |
| 2019 | $28M | — | — |

Source: [CompaniesByCap](https://companiesbycap.com/company/MNTK)