FTC Solar, Inc. (FTCI) vs Spruce Power Holding Corporation (SPRU)

FTC Solar, Inc. and Spruce Power Holding Corporation are both Solar companies. FTC Solar, Inc. is the larger, with a market value of $45.6M against $38.1M — 1.2× the size. FTC Solar, Inc. grew revenue faster over the last twelve months: 59.5% against 10.2%. Spruce Power Holding Corporation has the higher net margin (−6.76% vs −53.6%) and the higher return on invested capital (2.16% vs 0.00%). Across the 17 metrics below, Spruce Power Holding Corporation leads on 11 and FTC Solar, Inc. on 6.

Valuation

Metric FTCI SPRU Solar median
P/E n/m n/m 10.93
P/S 0.42 0.33 0.54
P/B n/m 0.29 1.44
Price to free cash flow n/m 4.56 9.91
EV/EBITDA n/m 10.39 9.90
EV/Sales 0.66 5.69 0.74
Earnings yield (129.32%) (22.16%) 0.00%
Free cash flow yield (66.71%) 21.93% 0.00%

Profitability

Metric FTCI SPRU Solar median
Gross margin 2.96% 66.41% 31.92%
Operating margin (38.26%) 22.47% (9.70%)
Net margin (53.61%) (6.76%) (8.48%)
Free cash flow margin (27.84%) 7.30% (2.95%)
Return on equity 514.95% (5.86%) 5.34%
Return on assets (60.61%) (0.87%) (5.36%)
Return on invested capital 0.00% 2.16% (5.27%)

Growth

Metric FTCI SPRU Solar median
Revenue growth (TTM) 59.53% 10.22% 16.97%
EPS growth (last fiscal year) (43.34%) 62.30% —
Revenue growth, 5-year CAGR (11.86%) 40.62% 14.00%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric FTCI SPRU Solar median
Debt to equity (0.75) 5.39 0.09
Current ratio 0.91 0.40 1.33
Net debt to EBITDA (0.05) 11.36 0.03

Dividend

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

Size

Metric FTCI SPRU Solar median
Market cap 45.60m 38.12m 43.46m

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