Electrovaya Inc. (ELVA) vs Hyliion Holdings Corp. (HYLN)

Electrovaya Inc. and Hyliion Holdings Corp. are both Electrical Equipment & Parts companies. Hyliion Holdings Corp. is the larger, with a market value of $469.7M against $231.5M — 2.0× the size. Hyliion Holdings Corp. has negative trailing earnings, so its P/E is not meaningful; Electrovaya Inc. trades at 44.0×. Hyliion Holdings Corp. grew revenue faster over the last twelve months: 340.3% against 30.9%. Electrovaya Inc. has the higher net margin (6.14% vs −564.4%) and the higher return on invested capital (4.60% vs −34.8%). Across the 18 metrics below, Electrovaya Inc. leads on 13 and Hyliion Holdings Corp. on 5.

Valuation

Metric ELVA HYLN Electrical Equipment & Parts median
P/E 44.02 n/m 24.14
P/S 3.23 51.33 2.33
P/B 3.46 2.80 2.49
Price to free cash flow n/m n/m 22.24
EV/EBITDA 30.36 n/m 12.18
EV/Sales 3.59 45.22 1.79
Earnings yield 2.27% (11.28%) (6.07%)
Free cash flow yield (6.73%) (11.24%) (5.34%)

Profitability

Metric ELVA HYLN Electrical Equipment & Parts median
Gross margin 33.00% 6.52% 29.92%
Operating margin 9.35% (635.16%) 0.00%
Net margin 6.14% (564.35%) 0.00%
Free cash flow margin (21.76%) (576.73%) 0.00%
Return on equity 9.85% (27.08%) 0.00%
Return on assets 5.12% (25.53%) 0.00%
Return on invested capital 4.60% (34.84%) 0.00%

Growth

Metric ELVA HYLN Electrical Equipment & Parts median
Revenue growth (TTM) 30.88% 340.33% 10.59%
EPS growth (last fiscal year) 300.00% (10.00%) 24.08%
Revenue growth, 5-year CAGR 34.45% — 9.92%
Net income growth, 5-year CAGR 24.77% 0.00% 0.00%

Health

Metric ELVA HYLN Electrical Equipment & Parts median
Debt to equity 0.60 0.00 0.15
Current ratio 7.53 7.59 2.34
Net debt to EBITDA 2.17 1.51 0.26

Dividend

Metric ELVA HYLN Electrical Equipment & Parts median
Dividend yield — — 0.33%
Payout ratio — — 0.09

Size

Metric ELVA HYLN Electrical Equipment & Parts median
Market cap 231.50m 469.71m 159.94m

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