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

Belden Inc and Ondas Holdings Inc. are both Communication Equipment companies. Belden Inc is the larger, with a market value of $3.8B against $2.6B — 1.4× the size. Ondas Holdings Inc. has negative trailing earnings, so its P/E is not meaningful; Belden Inc trades at 21.7×. Ondas Holdings Inc. grew revenue faster over the last twelve months: 979.3% against 17.7%. Ondas Holdings Inc. has the higher net margin (93.8% vs 5.62%) and the lower return on invested capital (−81.8% vs 4.33%). Across the 18 metrics below, Belden Inc leads on 9 and Ondas Holdings Inc. on 9.

Valuation

Metric BDC ONDS Communication Equipment median
P/E 21.68 n/m 29.86
P/S 1.22 13.23 1.68
P/B 2.75 1.46 1.72
Price to free cash flow 16.00 n/m 21.71
EV/EBITDA 14.04 n/m 14.04
EV/Sales 2.07 5.25 1.76
Earnings yield 4.61% (0.87%) (0.87%)
Free cash flow yield 6.25% (7.47%) 0.68%

Profitability

Metric BDC ONDS Communication Equipment median
Gross margin 36.84% 43.72% 39.34%
Operating margin 8.99% (140.40%) 2.43%
Net margin 5.62% 93.77% (0.64%)
Free cash flow margin 7.30% (98.75%) 0.27%
Return on equity 13.37% 19.59% 0.00%
Return on assets 3.75% 10.38% (0.10%)
Return on invested capital 4.33% (81.81%) 1.29%

Growth

Metric BDC ONDS Communication Equipment median
Revenue growth (TTM) 17.72% 979.31% 9.66%
EPS growth (last fiscal year) 23.13% (1.64%) 31.29%
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 2.19 0.00 0.05
Current ratio 1.82 9.85 1.99
Net debt to EBITDA 2.01 13.45 0.93

Dividend

Metric BDC ONDS Communication Equipment median
Dividend yield 0.20% — 1.10%
Payout ratio 0.04 — 0.44

Size

Metric BDC ONDS Communication Equipment median
Market cap 3.76b 2.63b 495.24m

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