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 $448.1M against $239.9M — 1.9× the size. Aspen Aerogels, Inc. has negative trailing earnings, so its P/E is not meaningful; Perma-Pipe International Holdings, Inc. trades at 14.5×. 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 19 metrics below, Perma-Pipe International Holdings, Inc. leads on 13 and Aspen Aerogels, Inc. on 6.

Valuation

Metric ASPN PPIH Building Products & Equipment median
P/E n/m 14.54 23.15
P/S 2.13 1.01 2.02
P/B 2.24 2.44 2.81
Price to free cash flow 12.51 16.62 16.84
EV/EBITDA n/m 6.84 12.85
EV/Sales 1.83 1.01 2.04
Earnings yield (29.48%) 6.88% 2.76%
Free cash flow yield 7.99% 6.02% 4.23%

Profitability

Metric ASPN PPIH Building Products & Equipment median
Gross margin 2.68% 31.13% 29.19%
Operating margin (61.04%) 12.06% 6.99%
Net margin (62.45%) 6.89% 4.05%
Free cash flow margin 17.01% 6.07% 7.60%
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% (34.13%)
Revenue growth, 5-year CAGR 22.01% 20.02% 5.37%
Net income growth, 5-year CAGR 0.00% 0.00% 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 — — 1.43%
Payout ratio — — 0.29

Size

Metric ASPN PPIH Building Products & Equipment median
Market cap 448.14m 239.87m 1.17b

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