EHang Holdings Limited Unsponsored ADR (EH) vs Merlin Inc (MRLN)

EHang Holdings Limited Unsponsored ADR and Merlin Inc are both Aerospace & Defense companies. EHang Holdings Limited Unsponsored ADR is the larger, with a market value of $272.4M against $181.8M — 1.5× the size. EHang Holdings Limited Unsponsored ADR has the higher net margin (−107.2% vs −3,463.5%) and the lower return on invested capital (−58.5% vs 0.00%). Across the 15 metrics below, EHang Holdings Limited Unsponsored ADR leads on 8 and Merlin Inc on 7.

Valuation

Metric EH MRLN Aerospace & Defense median
P/E n/m n/m 33.00
P/S 6.74 25.34 3.63
P/B 2.57 n/m 3.24
Price to free cash flow n/m n/m 34.01
EV/EBITDA n/m n/m 18.69
EV/Sales 5.37 4.17 3.94
Earnings yield (15.91%) (154.73%) 1.31%
Free cash flow yield (20.93%) (37.53%) 0.00%

Profitability

Metric EH MRLN Aerospace & Defense median
Gross margin 61.04% 26.34% 25.48%
Operating margin (117.97%) (1,156.90%) 4.54%
Net margin (107.24%) (3,463.45%) 2.22%
Free cash flow margin 0.00% (951.07%) 0.00%
Return on equity (39.74%) 0.00% 6.43%
Return on assets (20.96%) (239.99%) 2.70%
Return on invested capital (58.53%) 0.00% 1.56%

Growth

Metric EH MRLN Aerospace & Defense median
Revenue growth (TTM) (20.63%) — 18.43%
EPS growth (last fiscal year) 4.35% 85.03% —
Revenue growth, 5-year CAGR 46.31% — 9.62%
Net income growth, 5-year CAGR 0.00% — 0.00%

Health

Metric EH MRLN Aerospace & Defense median
Debt to equity 0.48 0.00 0.24
Current ratio 1.84 14.67 2.72
Net debt to EBITDA 2.72 0.24 1.12

Dividend

Metric EH MRLN Aerospace & Defense median
Dividend yield — — 1.04%
Payout ratio 0.00 — 0.00

Size

Metric EH MRLN Aerospace & Defense median
Market cap 272.40m 181.77m 2.52b

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