Electrovaya Inc. (ELVA) vs Ultralife Corporation (ULBI)

Electrovaya Inc. and Ultralife Corporation are both Electrical Equipment & Parts companies. Ultralife Corporation is the larger, with a market value of $260.5M against $231.5M — 1.1× the size. Ultralife Corporation has negative trailing earnings, so its P/E is not meaningful; Electrovaya Inc. trades at 44.0×. Electrovaya Inc. grew revenue faster over the last twelve months: 30.9% against 3.01%. Electrovaya Inc. has the higher net margin (6.14% vs −1.54%) and the higher return on invested capital (4.60% vs −1.49%). Across the 19 metrics below, Electrovaya Inc. leads on 12 and Ultralife Corporation on 7.

Valuation

Metric ELVA ULBI Electrical Equipment & Parts median
P/E 44.02 n/m 24.14
P/S 3.23 1.36 2.33
P/B 3.46 1.94 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 1.58 1.79
Earnings yield 2.27% (1.20%) (6.07%)
Free cash flow yield (6.73%) (0.27%) (5.34%)

Profitability

Metric ELVA ULBI Electrical Equipment & Parts median
Gross margin 33.00% 25.67% 29.92%
Operating margin 9.35% (2.18%) 0.00%
Net margin 6.14% (1.54%) 0.00%
Free cash flow margin (21.76%) (0.36%) 0.00%
Return on equity 9.85% (2.18%) 0.00%
Return on assets 5.12% (1.33%) 0.00%
Return on invested capital 4.60% (1.49%) 0.00%

Growth

Metric ELVA ULBI Electrical Equipment & Parts median
Revenue growth (TTM) 30.88% 3.01% 10.59%
EPS growth (last fiscal year) 300.00% (192.11%) 24.08%
Revenue growth, 5-year CAGR 34.45% 12.16% 9.92%
Net income growth, 5-year CAGR 24.77% 0.00% 0.00%

Health

Metric ELVA ULBI Electrical Equipment & Parts median
Debt to equity 0.60 0.38 0.15
Current ratio 7.53 2.97 2.34
Net debt to EBITDA 2.17 (292.07) 0.26

Dividend

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

Size

Metric ELVA ULBI Electrical Equipment & Parts median
Market cap 231.50m 260.45m 159.94m

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