Brunswick Corporation (BC) vs LCI Industries (LCII)

Brunswick Corporation and LCI Industries are both Recreational Vehicles companies. Brunswick Corporation is the larger, with a market value of $4.3B against $2.0B — 2.1× the size. Brunswick Corporation has negative trailing earnings, so its P/E is not meaningful; LCI Industries trades at 9.7×. Brunswick Corporation grew revenue faster over the last twelve months: 10.5% against 4.05%. LCI Industries has the higher net margin (5.24% vs −1.53%) and the higher return on invested capital (9.13% vs −0.37%). Both pay a dividend; Brunswick Corporation yields more (1.98% vs 1.89%). Across the 22 metrics below, LCI Industries leads on 20 and Brunswick Corporation on 2.

Valuation

Metric BC LCII Recreational Vehicles median
P/E n/m 9.73 17.55
P/S 0.78 0.51 0.53
P/B 2.62 1.44 0.91
Price to free cash flow 12.34 6.59 10.77
EV/EBITDA 22.35 6.35 9.09
EV/Sales 1.10 0.67 0.63
Earnings yield (1.93%) 10.28% 0.15%
Free cash flow yield 8.11% 15.17% 6.30%

Profitability

Metric BC LCII Recreational Vehicles median
Gross margin 25.58% 25.65% 22.03%
Operating margin (0.37%) 7.49% 0.17%
Net margin (1.53%) 5.24% (0.15%)
Free cash flow margin 6.33% 7.74% 4.02%
Return on equity (4.80%) 15.00% 0.16%
Return on assets (1.52%) 6.56% 0.10%
Return on invested capital (0.37%) 9.13% 0.16%

Growth

Metric BC LCII Recreational Vehicles median
Revenue growth (TTM) 10.46% 4.05% 4.05%
EPS growth (last fiscal year) (207.77%) 35.18% —
Revenue growth, 5-year CAGR 4.29% 8.07% 4.29%
Net income growth, 5-year CAGR 0.00% 3.51% 0.00%

Health

Metric BC LCII Recreational Vehicles median
Debt to equity 1.25 0.60 0.48
Current ratio 1.45 2.49 1.81
Net debt to EBITDA 7.25 1.80 0.53

Dividend

Metric BC LCII Recreational Vehicles median
Dividend yield 1.98% 1.89% 1.87%
Payout ratio 0.20 1.27 0.05

Size

Metric BC LCII Recreational Vehicles median
Market cap 4.29b 2.03b 628.11m

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