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 ($1.8B and $1.8B). NextDecade Corporation has negative trailing earnings, so its P/E is not meaningful; Flowco Holdings Inc. trades at 11.9×. 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 11.89 n/m 24.78
P/S 1.00 n/m 1.28
P/B 2.25 0.62 1.85
Price to free cash flow 6.04 n/m 15.03
EV/EBITDA 3.31 n/m 8.93
EV/Sales 1.35 n/m 1.40
Earnings yield 8.41% (20.73%) 3.12%
Free cash flow yield 16.55% (329.40%) 5.01%

Profitability

Metric FLOC NEXT Oil & Gas Equipment & Services median
Gross margin 55.06% 0.00% 23.27%
Operating margin 18.80% 0.00% 9.34%
Net margin 6.07% 0.00% 4.69%
Free cash flow margin 16.56% 0.00% 5.05%
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%) —
Revenue growth, 5-year CAGR — — 10.60%
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 2.11
Net debt to EBITDA 0.57 (58.53) 0.76

Dividend

Metric FLOC NEXT Oil & Gas Equipment & Services median
Dividend yield — — 2.12%
Payout ratio — 0.00 0.00

Size

Metric FLOC NEXT Oil & Gas Equipment & Services median
Market cap 1.76b 1.78b 1.81b

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