FuelCell Energy, Inc. (FCEL) vs Hayward Holdings, Inc. (HAYW)

FuelCell Energy, Inc. and Hayward Holdings, Inc. are both Electrical Equipment & Parts companies. Hayward Holdings, Inc. is the larger, with a market value of $2.7B against $1.3B — 2.0× the size. FuelCell Energy, Inc. has negative trailing earnings, so its P/E is not meaningful; Hayward Holdings, Inc. trades at 16.8×. Hayward Holdings, Inc. grew revenue faster over the last twelve months: 7.78% against 1.09%. Hayward Holdings, Inc. has the higher net margin (13.8% vs −115.7%) and the higher return on invested capital (7.43% vs −24.1%). Across the 19 metrics below, Hayward Holdings, Inc. leads on 14 and FuelCell Energy, Inc. on 5.

Valuation

Metric FCEL HAYW Electrical Equipment & Parts median
P/E n/m 16.84 36.10
P/S 7.53 2.34 2.73
P/B 1.18 1.71 3.57
Price to free cash flow n/m 13.38 33.31
EV/EBITDA n/m 10.43 18.07
EV/Sales 4.17 2.75 2.75
Earnings yield (20.80%) 5.94% (5.84%)
Free cash flow yield (9.75%) 7.47% 0.00%

Profitability

Metric FCEL HAYW Electrical Equipment & Parts median
Gross margin (32.39%) 47.95% 25.38%
Operating margin (116.25%) 21.15% 0.00%
Net margin (115.68%) 13.83% 0.00%
Free cash flow margin (73.46%) 17.50% 0.00%
Return on equity (23.03%) 10.41% 0.94%
Return on assets (16.65%) 5.25% (1.50%)
Return on invested capital (24.06%) 7.43% 0.00%

Growth

Metric FCEL HAYW Electrical Equipment & Parts median
Revenue growth (TTM) 1.09% 7.78% 9.28%
EPS growth (last fiscal year) 5.24% 25.93% —
Revenue growth, 5-year CAGR 17.42% 5.09% 9.80%
Net income growth, 5-year CAGR 0.00% 28.60% 0.00%

Health

Metric FCEL HAYW Electrical Equipment & Parts median
Debt to equity 0.17 0.60 0.08
Current ratio 8.67 3.33 2.18
Net debt to EBITDA 1.08 1.90 0.26

Dividend

Metric FCEL HAYW Electrical Equipment & Parts median
Dividend yield — — 0.84%
Payout ratio 0.00 0.00 0.00

Size

Metric FCEL HAYW Electrical Equipment & Parts median
Market cap 1.34b 2.66b 177.98m

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