Espey Mfg. & Electronics Corp. (ESP) vs Ultralife Corporation (ULBI)

Espey Mfg. & Electronics Corp. and Ultralife Corporation are both Electrical Equipment & Parts companies. Ultralife Corporation is the larger, with a market value of $260.5M against $139.5M — 1.9× the size. Ultralife Corporation has negative trailing earnings, so its P/E is not meaningful; Espey Mfg. & Electronics Corp. trades at 11.5×. Espey Mfg. & Electronics Corp. grew revenue faster over the last twelve months: 4.95% against 3.01%. Espey Mfg. & Electronics Corp. has the higher net margin (24.2% vs −1.54%) and the higher return on invested capital (47.9% vs −1.49%). Across the 18 metrics below, Espey Mfg. & Electronics Corp. leads on 12 and Ultralife Corporation on 6.

Valuation

Metric ESP ULBI Electrical Equipment & Parts median
P/E 11.48 n/m 24.14
P/S 2.78 1.36 2.33
P/B 2.12 1.94 2.49
Price to free cash flow 49.54 n/m 22.24
EV/EBITDA 6.83 n/m 12.18
EV/Sales 1.79 1.58 1.79
Earnings yield 8.71% (1.20%) (6.07%)
Free cash flow yield 2.02% (0.27%) (5.34%)

Profitability

Metric ESP ULBI Electrical Equipment & Parts median
Gross margin 35.30% 25.67% 29.92%
Operating margin 25.14% (2.18%) 0.00%
Net margin 24.24% (1.54%) 0.00%
Free cash flow margin 5.61% (0.36%) 0.00%
Return on equity 20.07% (2.18%) 0.00%
Return on assets 12.68% (1.33%) 0.00%
Return on invested capital 47.90% (1.49%) 0.00%

Growth

Metric ESP ULBI Electrical Equipment & Parts median
Revenue growth (TTM) 4.95% 3.01% 10.59%
EPS growth (last fiscal year) 28.81% (192.11%) 24.08%
Revenue growth, 5-year CAGR 10.71% 12.16% 9.92%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric ESP ULBI Electrical Equipment & Parts median
Debt to equity 0.00 0.38 0.15
Current ratio 2.50 2.97 2.34
Net debt to EBITDA (3.75) (292.07) 0.26

Dividend

Metric ESP ULBI Electrical Equipment & Parts median
Dividend yield 2.16% — 0.33%
Payout ratio 0.26 — 0.09

Size

Metric ESP ULBI Electrical Equipment & Parts median
Market cap 139.52m 260.45m 159.94m

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