Clearway Energy, Inc. (CWEN) vs Fluence Energy, Inc. (FLNC)

Clearway Energy, Inc. and Fluence Energy, Inc. are both Utilities Renewable companies. Clearway Energy, Inc. is the larger, with a market value of $6.0B against $1.4B — 4.3× the size. Fluence Energy, Inc. has negative trailing earnings, so its P/E is not meaningful; Clearway Energy, Inc. trades at 744×. Fluence Energy, Inc. grew revenue faster over the last twelve months: 7.46% against 5.62%. Clearway Energy, Inc. has the higher net margin (0.61% vs −3.07%) and the higher return on invested capital (0.81% vs −15.2%). Across the 19 metrics below, Clearway Energy, Inc. leads on 13 and Fluence Energy, Inc. on 6.

Valuation

Metric CWEN FLNC Utilities Renewable median
P/E 744.25 n/m 18.99
P/S 2.43 0.41 2.58
P/B 0.65 2.51 1.38
Price to free cash flow 5.49 n/m 5.71
EV/EBITDA 11.04 n/m 16.32
EV/Sales 8.11 0.43 5.43
Earnings yield 0.13% (7.64%) (12.46%)
Free cash flow yield 18.21% (12.16%) (21.58%)

Profitability

Metric CWEN FLNC Utilities Renewable median
Gross margin 63.50% 9.34% 41.45%
Operating margin 12.12% (4.23%) 0.00%
Net margin 0.61% (3.07%) (0.87%)
Free cash flow margin 44.18% (5.01%) (9.23%)
Return on equity 0.16% (16.99%) 0.00%
Return on assets 0.06% (3.45%) (2.61%)
Return on invested capital 0.81% (15.19%) 0.00%

Growth

Metric CWEN FLNC Utilities Renewable median
Revenue growth (TTM) 5.62% 7.46% 10.25%
EPS growth (last fiscal year) 90.67% (384.62%) —
Revenue growth, 5-year CAGR 3.57% 32.16% 6.29%
Net income growth, 5-year CAGR 46.55% 0.00% 0.00%

Health

Metric CWEN FLNC Utilities Renewable median
Debt to equity 1.66 0.91 0.59
Current ratio 1.11 1.34 1.16
Net debt to EBITDA 7.46 25.34 2.66

Dividend

Metric CWEN FLNC Utilities Renewable median
Dividend yield 6.72% — 5.61%
Payout ratio 2.15 0.00 0.00

Size

Metric CWEN FLNC Utilities Renewable median
Market cap 5.99b 1.39b 239.67m

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