Fluence Energy, Inc. (FLNC) vs SOLV Energy Inc. (MWH)

Fluence Energy, Inc. and SOLV Energy Inc. are both Utilities Renewable companies. SOLV Energy Inc. is the larger, with a market value of $4.8B against $940.5M — 5.1× the size. SOLV Energy Inc. has the higher net margin (2.22% vs −3.07%) and the higher return on invested capital (14.6% vs −15.2%). Across the 13 metrics below, SOLV Energy Inc. leads on 9 and Fluence Energy, Inc. on 4.

Valuation

Metric FLNC MWH Utilities Renewable median
P/E n/m — 14.42
P/S 0.27 1.11 1.78
P/B 1.65 3.36 0.88
Price to free cash flow n/m 37.83 11.75
EV/EBITDA n/m 11.64 10.16
EV/Sales 0.32 1.00 3.74
Earnings yield (11.63%) — (11.66%)
Free cash flow yield (18.50%) 2.64% (27.02%)

Profitability

Metric FLNC MWH Utilities Renewable median
Gross margin 9.34% 16.75% 40.59%
Operating margin (4.23%) 5.05% 0.00%
Net margin (3.07%) 2.22% 0.00%
Free cash flow margin (5.01%) 2.94% (1.11%)
Return on equity (16.99%) 0.00% 0.00%
Return on assets (3.45%) 5.37% (0.07%)
Return on invested capital (15.19%) 14.63% 0.00%

Growth

Metric FLNC MWH Utilities Renewable median
Revenue growth (TTM) 7.46% — 16.77%
EPS growth (last fiscal year) (384.62%) — 28.57%
Revenue growth, 5-year CAGR 32.16% — 7.01%
Net income growth, 5-year CAGR 0.00% — 0.00%

Health

Metric FLNC MWH Utilities Renewable median
Debt to equity 0.91 0.08 0.37
Current ratio 1.34 1.09 0.98
Net debt to EBITDA 25.34 — 3.56

Dividend

Metric FLNC MWH Utilities Renewable median
Dividend yield — — 3.15%
Payout ratio — — 0.17

Size

Metric FLNC MWH Utilities Renewable median
Market cap 940.52m 4.82b 849.13m

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