FTC Solar, Inc. (FTCI) vs Tigo Energy, Inc. (TYGO)

FTC Solar, Inc. and Tigo Energy, Inc. are both Solar companies. Tigo Energy, Inc. is the larger, with a market value of $55.4M against $23.4M — 2.4× the size. FTC Solar, Inc. has negative trailing earnings, so its P/E is not meaningful; Tigo Energy, Inc. trades at 4.9×. FTC Solar, Inc. grew revenue faster over the last twelve months: 36.3% against 15.3%. Tigo Energy, Inc. has the higher net margin (11.9% vs −22.2%) and the lower return on invested capital (−4.96% vs 0.00%). Across the 16 metrics below, FTC Solar, Inc. leads on 8 and Tigo Energy, Inc. on 8.

Valuation

Metric FTCI TYGO Solar median
P/E n/m 4.87 11.37
P/S 0.20 0.54 0.60
P/B n/m 1.23 0.90
Price to free cash flow n/m 5.82 15.06
EV/EBITDA n/m n/m 10.71
EV/Sales 0.39 0.85 0.85
Earnings yield (113.39%) 20.55% (16.54%)
Free cash flow yield (38.20%) 17.19% (1.15%)

Profitability

Metric FTCI TYGO Solar median
Gross margin 3.05% 43.22% 28.56%
Operating margin (36.65%) (3.66%) (7.89%)
Net margin (22.19%) 11.94% (7.34%)
Free cash flow margin (6.37%) (7.38%) (1.48%)
Return on equity 155.48% 43.21% 7.14%
Return on assets (21.00%) 13.44% (3.25%)
Return on invested capital 0.00% (4.96%) (4.96%)

Growth

Metric FTCI TYGO Solar median
Revenue growth (TTM) 36.32% 15.30% 10.49%
EPS growth (last fiscal year) (43.34%) 97.12% 51.53%
Revenue growth, 5-year CAGR (11.86%) — 13.86%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric FTCI TYGO Solar median
Debt to equity (1.42) 0.05 0.01
Current ratio 0.86 2.90 1.50
Net debt to EBITDA (0.05) 2.37 0.19

Dividend

Metric FTCI TYGO Solar median
Dividend yield — — —
Payout ratio — — —

Size

Metric FTCI TYGO Solar median
Market cap 23.39m 55.44m 76.52m

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