Aspen Aerogels, Inc. (ASPN) vs Perma-Pipe International Holdings, Inc. (PPIH)

Aspen Aerogels, Inc. and Perma-Pipe International Holdings, Inc. are both Building Products & Equipment companies. Aspen Aerogels, Inc. is the larger, with a market value of $440.7M against $256.0M — 1.7× the size. Aspen Aerogels, Inc. has negative trailing earnings, so its P/E is not meaningful; Perma-Pipe International Holdings, Inc. trades at 16.5×. Perma-Pipe International Holdings, Inc. grew revenue faster over the last twelve months: 24.8% against −49.1%. Perma-Pipe International Holdings, Inc. has the higher net margin (6.89% vs −62.5%) and the higher return on invested capital (18.0% vs −58.1%). Across the 20 metrics below, Perma-Pipe International Holdings, Inc. leads on 14 and Aspen Aerogels, Inc. on 6.

Valuation

Metric ASPN PPIH Building Products & Equipment median
P/E n/m 16.53 24.54
P/S 2.14 1.15 2.00
P/B 2.25 2.77 3.02
Price to free cash flow 12.59 18.90 18.49
EV/EBITDA n/m 7.77 12.63
EV/Sales 1.85 1.15 2.14
Earnings yield (29.31%) 6.05% 2.74%
Free cash flow yield 7.95% 5.29% 3.58%

Profitability

Metric ASPN PPIH Building Products & Equipment median
Gross margin 2.68% 31.13% 29.19%
Operating margin (61.04%) 12.06% 6.84%
Net margin (62.45%) 6.89% 4.05%
Free cash flow margin 17.01% 6.07% 8.72%
Return on equity (50.36%) 17.94% 9.28%
Return on assets (27.49%) 7.39% 2.88%
Return on invested capital (58.13%) 17.97% 5.16%

Growth

Metric ASPN PPIH Building Products & Equipment median
Revenue growth (TTM) (49.12%) 24.78% 3.11%
EPS growth (last fiscal year) (2,882.35%) 86.61% —
Revenue growth, 5-year CAGR 22.01% 8.77% 5.37%
Net income growth, 5-year CAGR 0.00% 22.95% 0.00%

Health

Metric ASPN PPIH Building Products & Equipment median
Debt to equity 0.49 0.39 0.43
Current ratio 2.52 2.19 1.82
Net debt to EBITDA 0.16 0.05 0.98

Dividend

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

Size

Metric ASPN PPIH Building Products & Equipment median
Market cap 440.67m 256.02m 1.18b

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