Brookfield Renewable Partners L.P. (BEP) vs ReNew Energy Global PLC (RNW)

Brookfield Renewable Partners L.P. and ReNew Energy Global PLC are both Utilities Renewable companies. Brookfield Renewable Partners L.P. is the larger, with a market value of $8.5B against $2.5B — 3.4× the size. Brookfield Renewable Partners L.P. has negative trailing earnings, so its P/E is not meaningful; ReNew Energy Global PLC trades at 21.7×. Brookfield Renewable Partners L.P. grew revenue faster over the last twelve months: 16.8% against 11.9%. ReNew Energy Global PLC has the higher net margin (6.62% vs −1.74%) and the higher return on invested capital (6.79% vs 2.14%). Across the 19 metrics below, ReNew Energy Global PLC leads on 12 and Brookfield Renewable Partners L.P. on 7.

Valuation

Metric BEP RNW Utilities Renewable median
P/E n/m 21.75 18.99
P/S 1.06 1.53 2.58
P/B 0.24 1.54 1.38
Price to free cash flow n/m n/m 5.71
EV/EBITDA 9.02 8.27 16.32
EV/Sales 5.28 6.00 5.43
Earnings yield (1.62%) 4.60% (12.46%)
Free cash flow yield (21.08%) (11.03%) (21.58%)

Profitability

Metric BEP RNW Utilities Renewable median
Gross margin 61.84% 84.06% 41.45%
Operating margin 29.65% 59.41% 0.00%
Net margin (1.74%) 6.62% (0.87%)
Free cash flow margin (22.33%) (16.86%) (9.23%)
Return on equity (0.42%) 6.73% 0.00%
Return on assets (0.14%) 0.95% (2.61%)
Return on invested capital 2.14% 6.79% 0.00%

Growth

Metric BEP RNW Utilities Renewable median
Revenue growth (TTM) 16.77% 11.87% 10.25%
EPS growth (last fiscal year) 71.91% 123.08% —
Revenue growth, 5-year CAGR 15.22% 15.47% 6.29%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric BEP RNW Utilities Renewable median
Debt to equity 1.03 5.15 0.59
Current ratio 0.80 0.43 1.16
Net debt to EBITDA 6.62 6.64 2.66

Dividend

Metric BEP RNW Utilities Renewable median
Dividend yield 5.93% — 5.61%
Payout ratio — 0.00 0.00

Size

Metric BEP RNW Utilities Renewable median
Market cap 8.48b 2.50b 239.67m

Compare with another peer

Any metric, up to five companies and an Excel export Powerpack