Flowco Holdings Inc. (FLOC) vs Innovex International, Inc. (INVX)

Flowco Holdings Inc. and Innovex International, Inc. are both Oil & Gas Equipment & Services companies. Innovex International, Inc. is the larger, with a market value of $1.9B against $1.7B — 1.2× the size. Flowco Holdings Inc. trades at the lower P/E: 11.7× against 31.5×. Innovex International, Inc. grew revenue faster over the last twelve months: 15.0% against 7.70%. Innovex International, Inc. has the higher net margin (6.17% vs 6.07%) and the lower return on invested capital (7.26% vs 14.7%). Across the 20 metrics below, Flowco Holdings Inc. leads on 11 and Innovex International, Inc. on 9.

Valuation

Metric FLOC INVX Oil & Gas Equipment & Services median
P/E 11.68 31.49 22.50
P/S 0.98 1.93 1.17
P/B 2.21 1.82 1.82
Price to free cash flow 5.94 8.71 13.72
EV/EBITDA 3.27 9.80 8.68
EV/Sales 1.34 1.74 1.34
Earnings yield 8.56% 3.18% 3.94%
Free cash flow yield 16.84% 11.48% 5.66%

Profitability

Metric FLOC INVX Oil & Gas Equipment & Services median
Gross margin 55.06% 32.40% 23.26%
Operating margin 18.80% 10.03% 9.34%
Net margin 6.07% 6.17% 4.69%
Free cash flow margin 16.56% 22.18% 5.35%
Return on equity 19.29% 5.99% 4.92%
Return on assets 2.82% 4.82% 2.37%
Return on invested capital 14.74% 7.26% 4.32%

Growth

Metric FLOC INVX Oil & Gas Equipment & Services median
Revenue growth (TTM) 7.70% 15.03% 6.08%
EPS growth (last fiscal year) (88.09%) (56.68%) (13.00%)
Revenue growth, 5-year CAGR — 21.80% 14.44%
Net income growth, 5-year CAGR — 0.00% 0.00%

Health

Metric FLOC INVX Oil & Gas Equipment & Services median
Debt to equity 0.84 0.02 0.46
Current ratio 2.67 5.01 2.07
Net debt to EBITDA 0.57 (0.86) 0.75

Dividend

Metric FLOC INVX Oil & Gas Equipment & Services median
Dividend yield 1.81% — 1.51%
Payout ratio 0.27 — 0.38

Size

Metric FLOC INVX Oil & Gas Equipment & Services median
Market cap 1.66b 1.92b 1.63b

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