FTC Solar, Inc. (FTCI) vs SPI Energy Co., Ltd. (SPIEQ)

FTC Solar, Inc. and SPI Energy Co., Ltd. are both Solar companies. FTC Solar, Inc. is the larger, with a market value of $45.6M against $24.2M — 1.9× the size. FTC Solar, Inc. grew revenue faster over the last twelve months: 59.5% against 21.2%. SPI Energy Co., Ltd. has the higher net margin (−11.8% vs −53.6%) and the lower return on invested capital (−16.2% vs 0.00%). Across the 16 metrics below, SPI Energy Co., Ltd. leads on 11 and FTC Solar, Inc. on 5.

Valuation

Metric FTCI SPIEQ Solar median
P/E n/m n/m 10.93
P/S 0.42 n/m 0.54
P/B n/m n/m 1.44
Price to free cash flow n/m n/m 9.91
EV/EBITDA n/m n/m 9.90
EV/Sales 0.66 0.21 0.74
Earnings yield (129.32%) 0.00% 0.00%
Free cash flow yield (66.71%) 0.00% 0.00%

Profitability

Metric FTCI SPIEQ Solar median
Gross margin 2.96% 13.08% 31.92%
Operating margin (38.26%) (7.32%) (9.70%)
Net margin (53.61%) (11.75%) (8.48%)
Free cash flow margin (27.84%) (2.70%) (2.95%)
Return on equity 514.95% (122.93%) 5.34%
Return on assets (60.61%) (10.87%) (5.36%)
Return on invested capital 0.00% (16.17%) (5.27%)

Growth

Metric FTCI SPIEQ Solar median
Revenue growth (TTM) 59.53% 21.20% 16.97%
EPS growth (last fiscal year) (43.34%) 33.68% —
Revenue growth, 5-year CAGR (11.86%) 7.87% 14.00%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric FTCI SPIEQ Solar median
Debt to equity (0.75) 3.21 0.09
Current ratio 0.91 0.41 1.33
Net debt to EBITDA (0.05) (1.90) 0.03

Dividend

Metric FTCI SPIEQ Solar median
Dividend yield — — —
Payout ratio 0.00 0.00 0.00

Size

Metric FTCI SPIEQ Solar median
Market cap 45.60m 24.21m 43.46m

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