Belden Inc (BDC) vs Ondas Holdings Inc. (ONDS)

Belden Inc and Ondas Holdings Inc. are both Communication Equipment companies. Belden Inc and Ondas Holdings Inc. are of similar size ($4.5B and $4.3B). Ondas Holdings Inc. has negative trailing earnings, so its P/E is not meaningful; Belden Inc trades at 18.0×. Ondas Holdings Inc. grew revenue faster over the last twelve months: 979.3% against 9.44%. Ondas Holdings Inc. has the higher net margin (34.1% vs 8.52%) and the lower return on invested capital (−81.8% vs 9.40%). Across the 18 metrics below, Belden Inc leads on 11 and Ondas Holdings Inc. on 7.

Valuation

Metric BDC ONDS Communication Equipment median
P/E 18.05 n/m 33.61
P/S 1.53 21.97 2.16
P/B 3.16 2.43 2.40
Price to free cash flow 19.71 n/m 25.02
EV/EBITDA 11.06 n/m 13.78
EV/Sales 1.84 14.15 2.27
Earnings yield 5.54% (0.52%) (0.65%)
Free cash flow yield 5.07% (4.50%) 1.61%

Profitability

Metric BDC ONDS Communication Equipment median
Gross margin 37.64% 43.72% 39.47%
Operating margin 11.90% (140.40%) 2.39%
Net margin 8.52% 34.08% (0.74%)
Free cash flow margin 7.41% (98.75%) 1.39%
Return on equity 18.64% 7.12% (1.91%)
Return on assets 7.01% 3.77% (0.20%)
Return on invested capital 9.40% (81.81%) 0.72%

Growth

Metric BDC ONDS Communication Equipment median
Revenue growth (TTM) 9.44% 979.31% 11.48%
EPS growth (last fiscal year) 23.13% (1.64%) —
Revenue growth, 5-year CAGR 9.16% 87.94% 4.92%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric BDC ONDS Communication Equipment median
Debt to equity 0.89 0.00 0.06
Current ratio 2.14 9.85 2.01
Net debt to EBITDA 2.01 13.45 0.67

Dividend

Metric BDC ONDS Communication Equipment median
Dividend yield 0.24% — 2.63%
Payout ratio 0.03 0.00 0.00

Size

Metric BDC ONDS Communication Equipment median
Market cap 4.33b 4.48b 563.45m

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