Aspen Aerogels, Inc. (ASPN) vs Latham Group, Inc. (SWIM)

Aspen Aerogels, Inc. and Latham Group, Inc. are both Building Products & Equipment companies. Latham Group, Inc. is the larger, with a market value of $732.9M against $440.7M — 1.7× the size. Aspen Aerogels, Inc. has negative trailing earnings, so its P/E is not meaningful; Latham Group, Inc. trades at 125×. Latham Group, Inc. grew revenue faster over the last twelve months: 10.5% against −49.1%. Latham Group, Inc. has the higher net margin (0.92% vs −62.5%) and the higher return on invested capital (2.82% vs −58.1%). Across the 20 metrics below, Latham Group, Inc. leads on 12 and Aspen Aerogels, Inc. on 8.

Valuation

Metric ASPN SWIM Building Products & Equipment median
P/E n/m 125.00 24.54
P/S 2.14 1.27 2.00
P/B 2.25 1.78 3.02
Price to free cash flow 12.59 19.83 18.49
EV/EBITDA n/m 11.56 12.63
EV/Sales 1.85 1.68 2.14
Earnings yield (29.31%) 0.80% 2.74%
Free cash flow yield 7.95% 5.04% 3.58%

Profitability

Metric ASPN SWIM Building Products & Equipment median
Gross margin 2.68% 33.38% 29.19%
Operating margin (61.04%) 5.08% 6.84%
Net margin (62.45%) 0.92% 4.05%
Free cash flow margin 17.01% 6.42% 8.72%
Return on equity (50.36%) 1.32% 9.28%
Return on assets (27.49%) 0.63% 2.88%
Return on invested capital (58.13%) 2.82% 5.16%

Growth

Metric ASPN SWIM Building Products & Equipment median
Revenue growth (TTM) (49.12%) 10.50% 3.11%
EPS growth (last fiscal year) (2,882.35%) 160.00% —
Revenue growth, 5-year CAGR 22.01% 6.24% 5.37%
Net income growth, 5-year CAGR 0.00% (6.99%) 0.00%

Health

Metric ASPN SWIM Building Products & Equipment median
Debt to equity 0.49 0.68 0.43
Current ratio 2.52 2.16 1.82
Net debt to EBITDA 0.16 2.50 0.98

Dividend

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

Size

Metric ASPN SWIM Building Products & Equipment median
Market cap 440.67m 732.94m 1.18b

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