Flowco Holdings Inc. (FLOC) vs NextDecade Corporation (NEXT)

Flowco Holdings Inc. and NextDecade Corporation are both Oil & Gas Equipment & Services companies. Flowco Holdings Inc. and NextDecade Corporation are of similar size ($1.7B and $1.6B). NextDecade Corporation has negative trailing earnings, so its P/E is not meaningful; Flowco Holdings Inc. trades at 11.7×. Flowco Holdings Inc. has the higher net margin (6.07% vs 0.00%) and the higher return on invested capital (14.7% vs −1.12%). Across the 14 metrics below, Flowco Holdings Inc. leads on 12 and NextDecade Corporation on 2.

Valuation

Metric FLOC NEXT Oil & Gas Equipment & Services median
P/E 11.68 n/m 22.50
P/S 0.98 n/m 1.17
P/B 2.21 0.59 1.82
Price to free cash flow 5.94 n/m 13.72
EV/EBITDA 3.27 n/m 8.68
EV/Sales 1.34 n/m 1.34
Earnings yield 8.56% (21.73%) 3.94%
Free cash flow yield 16.84% (345.19%) 5.66%

Profitability

Metric FLOC NEXT Oil & Gas Equipment & Services median
Gross margin 55.06% 0.00% 23.26%
Operating margin 18.80% 0.00% 9.34%
Net margin 6.07% 0.00% 4.69%
Free cash flow margin 16.56% 0.00% 5.35%
Return on equity 19.29% (15.32%) 4.92%
Return on assets 2.82% (3.11%) 2.37%
Return on invested capital 14.74% (1.12%) 4.32%

Growth

Metric FLOC NEXT Oil & Gas Equipment & Services median
Revenue growth (TTM) 7.70% — 6.08%
EPS growth (last fiscal year) (88.09%) (387.50%) (13.00%)
Revenue growth, 5-year CAGR — — 14.44%
Net income growth, 5-year CAGR — 0.00% 0.00%

Health

Metric FLOC NEXT Oil & Gas Equipment & Services median
Debt to equity 0.84 3.70 0.46
Current ratio 2.67 0.37 2.07
Net debt to EBITDA 0.57 (58.53) 0.75

Dividend

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

Size

Metric FLOC NEXT Oil & Gas Equipment & Services median
Market cap 1.66b 1.60b 1.63b

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