Fuel Tech, Inc. (FTEK) vs Veralto Corporation (VLTO)

Fuel Tech, Inc. and Veralto Corporation are both Pollution & Treatment Controls companies. Veralto Corporation is the larger, with a market value of $23.5B against $53.5M — 438.0× the size. Fuel Tech, Inc. has negative trailing earnings, so its P/E is not meaningful; Veralto Corporation trades at 24.3×. Fuel Tech, Inc. grew revenue faster over the last twelve months: 8.89% against 6.23%. Veralto Corporation has the higher net margin (17.4% vs −12.8%) and the higher return on invested capital (18.6% vs −16.1%). Across the 19 metrics below, Veralto Corporation leads on 13 and Fuel Tech, Inc. on 6.

Valuation

Metric FTEK VLTO Pollution & Treatment Controls median
P/E n/m 24.33 —
P/S 1.96 4.18 3.64
P/B 1.44 7.68 2.08
Price to free cash flow n/m 22.74 —
EV/EBITDA n/m 18.06 17.68
EV/Sales 1.27 4.40 4.26
Earnings yield (6.40%) 4.11% (18.01%)
Free cash flow yield (2.21%) 4.40% (5.86%)

Profitability

Metric FTEK VLTO Pollution & Treatment Controls median
Gross margin 44.74% 60.18% 34.73%
Operating margin (16.78%) 22.74% (29.01%)
Net margin (12.75%) 17.35% (31.94%)
Free cash flow margin (4.34%) 18.38% (12.20%)
Return on equity (8.92%) 34.31% (38.24%)
Return on assets (7.72%) 12.56% (26.06%)
Return on invested capital (16.13%) 18.57% 0.00%

Growth

Metric FTEK VLTO Pollution & Treatment Controls median
Revenue growth (TTM) 8.89% 6.23% 9.79%
EPS growth (last fiscal year) (33.33%) 12.57% —
Revenue growth, 5-year CAGR 3.42% 4.82% 8.56%
Net income growth, 5-year CAGR 0.00% 5.36% 0.00%

Health

Metric FTEK VLTO Pollution & Treatment Controls median
Debt to equity 0.00 1.09 0.03
Current ratio 5.10 1.78 1.90
Net debt to EBITDA 8.34 0.47 0.30

Dividend

Metric FTEK VLTO Pollution & Treatment Controls median
Dividend yield — 0.33% —
Payout ratio 0.00 — 0.00

Size

Metric FTEK VLTO Pollution & Treatment Controls median
Market cap 53.54m 23.45b 48.08m

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