ProFrac Holding Corp. (ACDC) vs Natural Gas Services Group, Inc. (NGS)

ProFrac Holding Corp. and Natural Gas Services Group, Inc. are both Oil & Gas Equipment & Services companies. ProFrac Holding Corp. is the larger, with a market value of $826.8M against $429.5M — 1.9× the size. ProFrac Holding Corp. has negative trailing earnings, so its P/E is not meaningful; Natural Gas Services Group, Inc. trades at 20.1×. Natural Gas Services Group, Inc. grew revenue faster over the last twelve months: 15.4% against −16.2%. Natural Gas Services Group, Inc. has the higher net margin (10.8% vs −22.8%) and the higher return on invested capital (4.10% vs −9.80%). Across the 20 metrics below, Natural Gas Services Group, Inc. leads on 14 and ProFrac Holding Corp. on 6.

Valuation

Metric ACDC NGS Oil & Gas Equipment & Services median
P/E n/m 20.12 24.78
P/S 0.47 2.19 1.28
P/B 1.30 1.41 1.85
Price to free cash flow n/m n/m 15.03
EV/EBITDA 13.32 9.00 8.93
EV/Sales 1.07 3.92 1.40
Earnings yield (50.54%) 4.97% 3.12%
Free cash flow yield (5.78%) (7.51%) 5.01%

Profitability

Metric ACDC NGS Oil & Gas Equipment & Services median
Gross margin 21.50% 59.72% 23.27%
Operating margin (15.00%) 21.57% 9.34%
Net margin (22.76%) 10.81% 4.69%
Free cash flow margin (2.71%) (16.47%) 5.05%
Return on equity (50.92%) 7.30% 4.92%
Return on assets (15.24%) 3.29% 2.37%
Return on invested capital (9.80%) 4.10% 4.32%

Growth

Metric ACDC NGS Oil & Gas Equipment & Services median
Revenue growth (TTM) (16.18%) 15.42% 6.08%
EPS growth (last fiscal year) (60.87%) 14.60% —
Revenue growth, 5-year CAGR 28.80% 20.42% 10.60%
Net income growth, 5-year CAGR 0.00% 61.60% 0.00%

Health

Metric ACDC NGS Oil & Gas Equipment & Services median
Debt to equity 1.68 1.11 0.46
Current ratio 0.84 2.01 2.11
Net debt to EBITDA 5.15 3.06 0.76

Dividend

Metric ACDC NGS Oil & Gas Equipment & Services median
Dividend yield — — 2.12%
Payout ratio — 0.00 0.00

Size

Metric ACDC NGS Oil & Gas Equipment & Services median
Market cap 826.84m 429.51m 1.81b

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