Aspen Aerogels, Inc. (ASPN) vs NPK International Inc. (NPKI)

Aspen Aerogels, Inc. and NPK International Inc. are both Building Products & Equipment companies. NPK International Inc. is the larger, with a market value of $991.8M against $440.7M — 2.3× the size. Aspen Aerogels, Inc. has negative trailing earnings, so its P/E is not meaningful; NPK International Inc. trades at 23.4×. NPK International Inc. grew revenue faster over the last twelve months: 28.1% against −49.1%. NPK International Inc. has the higher net margin (14.2% vs −62.5%) and the higher return on invested capital (8.72% vs −58.1%). Across the 19 metrics below, NPK International Inc. leads on 11 and Aspen Aerogels, Inc. on 8.

Valuation

Metric ASPN NPKI Building Products & Equipment median
P/E n/m 23.44 24.54
P/S 2.14 3.29 2.00
P/B 2.25 2.67 3.02
Price to free cash flow 12.59 33.83 18.49
EV/EBITDA n/m 12.03 12.63
EV/Sales 1.85 3.30 2.14
Earnings yield (29.31%) 4.27% 2.74%
Free cash flow yield 7.95% 2.96% 3.58%

Profitability

Metric ASPN NPKI Building Products & Equipment median
Gross margin 2.68% 35.81% 29.19%
Operating margin (61.04%) 17.34% 6.84%
Net margin (62.45%) 14.20% 4.05%
Free cash flow margin 17.01% 9.74% 8.72%
Return on equity (50.36%) 12.19% 9.28%
Return on assets (27.49%) 10.12% 2.88%
Return on invested capital (58.13%) 8.72% 5.16%

Growth

Metric ASPN NPKI Building Products & Equipment median
Revenue growth (TTM) (49.12%) 28.09% 3.11%
EPS growth (last fiscal year) (2,882.35%) 126.16% —
Revenue growth, 5-year CAGR 22.01% (10.87%) 5.37%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric ASPN NPKI Building Products & Equipment median
Debt to equity 0.49 0.03 0.43
Current ratio 2.52 1.61 1.82
Net debt to EBITDA 0.16 0.16 0.98

Dividend

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

Size

Metric ASPN NPKI Building Products & Equipment median
Market cap 440.67m 991.75m 1.18b

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