Montauk Renewables, Inc.
- Open
- 1.79
- Day high
- 1.82
- Day low
- 1.73
- Prev close
- 1.72
- Volume
- 28K
- Mkt cap
- $249M
- P/E (TTM)
- 31.6
- EPS (TTM)
- $0.06
- P/B
- 0.9
- P/S
- 1.3
- Yield
- —
- Per share
- —
Montauk Renewables, Inc. (MNTK) is a Utilities company listed on NASDAQ. The stock is down 17% over the past year. Drillr has 1 published research article covering MNTK.
Montauk Renewables, Inc. (MNTK) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
MNTK earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Aug 6, 2026 | $0.00 | $0.00 | +545.7% | $54M | +9.5% |
| Mar 12, 2026 | $0.02 | $0.02 | +5.0% | $307M | +590.9% |
| Nov 5, 2025 | $0.00 | $0.04 | +1519.4% | $45M | +2.2% |
| Aug 6, 2025 | $0.02 | $-0.04 | -355.1% | $45M | +5.6% |
| May 8, 2025 | $0.01 | $-0.00 | -132.5% | $43M | +0.5% |
| Mar 13, 2025 | $0.05 | $-0.06 | -220.0% | $28M | -56.8% |
| Aug 8, 2024 | $0.06 | $-0.01 | -116.7% | $43M | -7.7% |
| May 9, 2024 | $0.01 | $0.01 | +100.0% | $39M | -13.7% |
| Mar 14, 2024 | $0.07 | $0.03 | -57.1% | $47M | -17.7% |
| Nov 9, 2023 | $0.10 | $0.09 | -10.0% | $56M | -9.6% |
| May 10, 2023 | $-0.01 | $-0.03 | -200.0% | $19M | -52.0% |
| Mar 16, 2023 | $0.09 | $0.05 | -44.4% | $50M | -13.4% |
MNTK insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| May 22, 2026 | Van Asdalan Kevin Aofficer: Chief Financial Officer | Grant | 302,982 | — |
| May 22, 2026 | McClain Sean Fdirector, officer: President & CEO | Grant | 383,183 | — |
| May 22, 2026 | Shaw James Aofficer: Chief Operating Officer | Grant | 282,842 | — |
| May 22, 2026 | Ciroli Johnofficer: Chief Legal Officer | Grant | 302,982 | — |
| May 13, 2026 | Copelyn John Adirector | Buy | 17,506 | $1.45 |
| Nov 26, 2025 | Frank Sharon Rofficer: VP Environ Health & Safety | Tax | 2,748 | $1.67 |
| Nov 26, 2024 | Frank Sharon Rofficer: VP Environ Health & Safety | Tax | 2,748 | $4.46 |
| Nov 27, 2023 | Frank Sharon Rofficer: VP Environ. Health & Safety | Tax | 2,658 | $9.09 |
| Sep 18, 2023 | Barsch Michaelofficer: See Remarks | Grant | 75,000 | $9.57 |
| Apr 26, 2023 | Shaw James Aofficer: Vice President of Operations | Grant | 100,000 | $6.77 |
| Apr 26, 2023 | McClain Sean Fdirector, officer: President and CEO | Grant | 200,000 | $6.77 |
| Apr 26, 2023 | Frank Sharon Rofficer: VP Environ. Health & Safety | Grant | 100,000 | $6.77 |
| Apr 26, 2023 | Ciroli Johnofficer: See Remarks | Grant | 133,334 | $6.77 |
| Apr 26, 2023 | Ciroli Johnofficer: See Remarks | Grant | 133,333 | $6.77 |
| Apr 26, 2023 | Van Asdalan Kevin Aofficer: CFO and Treasurer | Grant | 166,667 | $6.77 |
Source: MNTK SEC Form 4 filings, latest May 22, 2026. For informational purposes only — not investment advice.
See the full MNTK insider & 13F page →Montauk Renewables, Inc. company profile
Overview
Montauk Renewables, Inc. (NASDAQ:MNTK) is a renewable energy company founded in 1980 and headquartered in Pittsburgh, Pennsylvania. The company went public in January 2021 and specializes in capturing methane emissions from landfills and other organic waste sources, converting them into renewable natural gas and electricity. Montauk operates across the United States with a focus on preventing methane from entering the atmosphere while generating clean energy and valuable environmental credits.
Business
Montauk Renewables operates in the renewable energy sector, specifically focusing on biogas recovery and processing. The company captures methane gas that would otherwise escape into the atmosphere from landfills, dairy farms, and other organic waste sources, then processes it into useful energy products. The company operates through two primary business segments: 1. Renewable Natural Gas (RNG) Segment (~90% of revenues): This segment captures methane from landfills and converts it into pipeline-quality natural gas that can be injected into existing natural gas infrastructure. The process involves collecting raw biogas, removing impurities like carbon dioxide and hydrogen sulfide, and upgrading it to meet pipeline specifications. The RNG can then be sold to utilities, industrial customers, or transportation fuel markets. Additionally, this segment generates Renewable Identification Numbers (RINs), which are tradeable environmental credits required under the federal Renewable Fuel Standard program that obligate petroleum refiners to blend renewable fuels. 2. Renewable Electricity Generation Segment (~10% of revenues): This segment burns captured methane in generators to produce electricity that is sold to the electrical grid. The electricity qualifies as renewable energy and can generate Renewable Energy Certificates (RECs), which are environmental credits that utilities purchase to meet renewable energy mandates. The core technology involves installing gas collection systems at landfills and other waste sites, then using specialized processing equipment to clean and upgrade the raw biogas. Methane is a potent greenhouse gas that is approximately 25 times more harmful to the atmosphere than carbon dioxide, making its capture both environmentally beneficial and economically valuable through various environmental credit programs.
Revenue model
Montauk generates revenue through multiple complementary streams within its renewable energy business model: Primary Revenue Sources: 1. RNG Product Sales: The company sells processed renewable natural gas directly to utilities, industrial customers, and transportation fuel markets under both spot pricing and fixed-price long-term contracts. 2. Environmental Credits Trading: Montauk generates and sells RINs (Renewable Identification Numbers) required under federal renewable fuel standards. These credits are purchased by petroleum refiners who must demonstrate compliance with renewable fuel blending mandates. RIN prices fluctuate based on supply, demand, and regulatory requirements. 3. Electricity Sales: The renewable electricity segment sells power to utilities under power purchase agreements, with prices typically including both the electricity commodity value and renewable energy premiums. 4. Emerging Revenue Streams: The company is developing biogenic CO2 sales from its processing operations and exploring green methanol production through pilot projects. Key Margin Factors: Positive Margin Drivers: Higher RIN pricing during periods of regulatory tightening or supply constraints; increased landfill gas availability requiring minimal additional capital investment; successful development of higher-value feedstock sources like dairy and swine waste; expansion of fixed-price long-term contracts that provide revenue stability; development of additional commodity streams like CO2 and methanol. Negative Margin Pressures: RIN price volatility driven by EPA regulatory changes and compliance period adjustments; landfill operator delays in waste placement and gas collection infrastructure development; increased pathway provider sharing percentages that reduce net RIN values; weather-related production disruptions; utility interconnection delays for new projects; competition from other renewable fuel sources affecting environmental credit pricing. The business model benefits from being asset-heavy with long-term contracts at individual sites, typically spanning 15-20 years, providing relatively predictable cash flows once projects are operational.
Competitive moat
Montauk Renewables possesses a moderate but defendable moat built around several key competitive advantages, though the company faces meaningful competitive pressures. Competitive Strengths: The company's primary moat stems from its long-term exclusive contracts with landfill operators and waste site owners, typically spanning 15-20 years. Once Montauk installs gas collection and processing infrastructure at a site, switching costs for the landfill operator are extremely high, creating significant customer stickiness. The company has developed proprietary technology for processing various feedstock types, including patented reactor technology for swine waste processing that allows efficient conversion in compact, reliable systems. Montauk also benefits from regulatory expertise and established relationships within the complex environmental credit markets. The company has experience navigating EPA regulations, state-level programs like California's Low Carbon Fuel Standard, and utility renewable energy requirements. This regulatory knowledge creates barriers for new entrants who must invest significant time and resources to understand these markets. Competitive Vulnerabilities: The company's moat is somewhat limited by the commoditized nature of both RNG and environmental credits. While site-specific contracts provide protection, the ultimate value of the company's products depends on volatile environmental credit pricing and regulatory policy changes. Large energy companies and utilities are increasingly developing their own renewable gas capabilities, potentially reducing demand for third-party providers like Montauk. The capital-intensive nature of the business means that well-funded competitors can replicate Montauk's model, particularly at larger landfill sites that may offer better economics. Additionally, the company faces potential disruption from alternative renewable energy technologies and changes in federal or state environmental policies that could reduce the value of RINs and other environmental credits. Overall, Montauk's moat provides meaningful protection for existing operations but may not be sufficient to prevent margin compression from competitive pressures and regulatory changes in the broader renewable energy market.
Risks & safety
Montauk Renewables demonstrates solid financial stability with adequate liquidity but faces some operational cash flow volatility. • Strong Balance Sheet: $45.6 million cash with current ratio of 1.71x and manageable debt-to-equity ratio of 0.24x • Solvency Risk: Low near-term bankruptcy risk given strong cash position and asset base of $349 million • Cash Flow Volatility: Operating cash flow of $43.8 million in 2024 but negative free cash flow of -$18.5 million due to ongoing capital investments in new projects • Valuation Metrics: Trading at 14.2x EV/EBITDA and 58x P/E ratio based on 2024 results, suggesting elevated valuation relative to cyclical earnings • Capital Intensity: High ongoing capex requirements for new project development create cash flow pressures but build long-term asset base • Revenue Concentration Risk: Heavy dependence on volatile RIN pricing and regulatory policy changes affecting environmental credit values
Recent development
Over the past few years, Montauk has pursued an aggressive diversification and expansion strategy to reduce dependence on traditional landfill gas sources and volatile RIN pricing. Feedstock Diversification Initiatives: The company has moved beyond landfill gas to develop agricultural waste projects, including a 50% capacity increase at its Pico dairy facility in Idaho and the development of the North Carolina swine waste-to-energy project (Montauk Ag Renewables). The swine project represents a significant technological advancement, utilizing proprietary reactor technology to process livestock waste in a closed-loop system with multiple expansion potential. Commodity Product Expansion: Montauk has developed new revenue streams beyond RNG and electricity. The company signed a contract with European Energy North America to deliver 140,000 tons of biogenic CO2 from its processing operations, with projects at Atascocita and Rumpke targeted for 2027 commissioning. Additionally, the company launched a pilot project with Emvolon to convert methane into green methanol, exploring higher-value chemical production. Geographic and Capacity Expansion: The company has commissioned multiple new facilities, including the second Apex RNG facility and expansion projects in South Carolina and California. The Frank R. Bowerman Landfill project in California represents one of the largest developments with 3,600 MMBtu/day capacity potential. Strategic Market Positioning: Montauk has shifted toward more fixed-price long-term contracts to reduce exposure to volatile environmental credit pricing, while maintaining flexibility to capitalize on favorable RIN market conditions. The company has also begun exploring opportunities in the data center market for renewable energy sales and alternative compliance markets.
MNTK company profile · for informational purposes only — not investment advice.
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