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

Espey Mfg. & Electronics Corp. and Ultralife Corporation are both Electrical Equipment & Parts companies. Espey Mfg. & Electronics Corp. is the larger, with a market value of $171.0M against $101.8M — 1.7× the size. Ultralife Corporation has negative trailing earnings, so its P/E is not meaningful; Espey Mfg. & Electronics Corp. trades at 13.8×. Espey Mfg. & Electronics Corp. grew revenue faster over the last twelve months: 4.95% against 4.69%. Espey Mfg. & Electronics Corp. has the higher net margin (24.2% vs −3.50%) and the higher return on invested capital (47.9% vs −3.05%). Across the 19 metrics below, Espey Mfg. & Electronics Corp. leads on 11 and Ultralife Corporation on 8.

Valuation

Metric ESP ULBI Electrical Equipment & Parts median
P/E 13.79 n/m 31.20
P/S 3.34 0.54 2.28
P/B 2.54 0.76 3.19
Price to free cash flow 59.52 49.38 27.15
EV/EBITDA 8.96 n/m 15.80
EV/Sales 2.35 0.74 2.38
Earnings yield 7.25% (6.64%) (5.87%)
Free cash flow yield 1.68% 2.03% 0.00%

Profitability

Metric ESP ULBI Electrical Equipment & Parts median
Gross margin 35.30% 24.38% 25.38%
Operating margin 25.14% (4.45%) 0.00%
Net margin 24.24% (3.50%) 0.00%
Free cash flow margin 5.61% 1.08% 0.00%
Return on equity 20.07% (4.83%) 0.14%
Return on assets 12.68% (3.00%) (1.50%)
Return on invested capital 47.90% (3.05%) 0.00%

Growth

Metric ESP ULBI Electrical Equipment & Parts median
Revenue growth (TTM) 4.95% 4.69% 7.92%
EPS growth (last fiscal year) 28.81% (192.11%) 27.37%
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 0.34 0.16
Current ratio 2.50 2.87 2.31
Net debt to EBITDA (3.75) (292.07) 0.26

Dividend

Metric ESP ULBI Electrical Equipment & Parts median
Dividend yield 1.80% — 0.48%
Payout ratio 0.26 — 0.10

Size

Metric ESP ULBI Electrical Equipment & Parts median
Market cap 171.04m 101.81m 157.22m

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