Aspen Aerogels, Inc. (ASPN) vs Limbach Holdings, Inc. (LMB)

Aspen Aerogels, Inc. and Limbach Holdings, Inc. are both Building Products & Equipment companies. Limbach Holdings, Inc. is the larger, with a market value of $612.1M against $440.7M — 1.4× the size. Aspen Aerogels, Inc. has negative trailing earnings, so its P/E is not meaningful; Limbach Holdings, Inc. trades at 19.9×. Limbach Holdings, Inc. grew revenue faster over the last twelve months: 23.7% against −49.1%. Limbach Holdings, Inc. has the higher net margin (4.42% vs −62.5%) and the higher return on invested capital (10.9% vs −58.1%). Across the 20 metrics below, Limbach Holdings, Inc. leads on 15 and Aspen Aerogels, Inc. on 5.

Valuation

Metric ASPN LMB Building Products & Equipment median
P/E n/m 19.88 24.54
P/S 2.14 0.90 2.00
P/B 2.25 3.02 3.02
Price to free cash flow 12.59 11.82 18.49
EV/EBITDA n/m 10.94 12.63
EV/Sales 1.85 0.93 2.14
Earnings yield (29.31%) 5.03% 2.74%
Free cash flow yield 7.95% 8.46% 3.58%

Profitability

Metric ASPN LMB Building Products & Equipment median
Gross margin 2.68% 23.58% 29.19%
Operating margin (61.04%) 5.75% 6.84%
Net margin (62.45%) 4.42% 4.05%
Free cash flow margin 17.01% 7.60% 8.72%
Return on equity (50.36%) 16.17% 9.28%
Return on assets (27.49%) 8.09% 2.88%
Return on invested capital (58.13%) 10.85% 5.16%

Growth

Metric ASPN LMB Building Products & Equipment median
Revenue growth (TTM) (49.12%) 23.67% 3.11%
EPS growth (last fiscal year) (2,882.35%) 25.68% —
Revenue growth, 5-year CAGR 22.01% 2.62% 5.37%
Net income growth, 5-year CAGR 0.00% 46.41% 0.00%

Health

Metric ASPN LMB Building Products & Equipment median
Debt to equity 0.49 0.20 0.43
Current ratio 2.52 1.49 1.82
Net debt to EBITDA 0.16 0.36 0.98

Dividend

Metric ASPN LMB Building Products & Equipment median
Dividend yield — — 1.20%
Payout ratio 0.00 0.00 0.04

Size

Metric ASPN LMB Building Products & Equipment median
Market cap 440.67m 612.11m 1.18b

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