Gencor Industries Inc. (GENC) vs Titan International, Inc. (TWI)

Gencor Industries Inc. and Titan International, Inc. are both Farm & Heavy Construction Machinery companies. Titan International, Inc. is the larger, with a market value of $303.7M against $245.1M — 1.2× the size. Titan International, Inc. has negative trailing earnings, so its P/E is not meaningful; Gencor Industries Inc. trades at 16.4×. Titan International, Inc. grew revenue faster over the last twelve months: 9.00% against −6.39%. Gencor Industries Inc. has the higher net margin (13.5% vs −6.36%) and the higher return on invested capital (13.3% vs −0.46%). Across the 20 metrics below, Gencor Industries Inc. leads on 15 and Titan International, Inc. on 5.

Valuation

Metric GENC TWI Farm & Heavy Construction Machinery median
P/E 16.42 n/m 21.67
P/S 2.21 0.16 0.77
P/B 1.08 0.65 1.31
Price to free cash flow n/m n/m 20.59
EV/EBITDA 5.28 11.30 11.30
EV/Sales 0.72 0.38 1.11
Earnings yield 6.09% (39.10%) 3.08%
Free cash flow yield (0.66%) (8.50%) 3.12%

Profitability

Metric GENC TWI Farm & Heavy Construction Machinery median
Gross margin 28.58% 13.84% 22.91%
Operating margin 11.74% (0.34%) 4.47%
Net margin 13.53% (6.36%) 1.41%
Free cash flow margin (1.47%) (1.39%) 2.26%
Return on equity 6.85% (22.59%) 3.99%
Return on assets 6.49% (6.91%) 1.31%
Return on invested capital 13.32% (0.46%) 4.09%

Growth

Metric GENC TWI Farm & Heavy Construction Machinery median
Revenue growth (TTM) (6.39%) 9.00% 1.81%
EPS growth (last fiscal year) 8.08% (1,150.00%) (27.79%)
Revenue growth, 5-year CAGR 8.32% 7.74% 6.63%
Net income growth, 5-year CAGR 23.14% 0.00% 0.00%

Health

Metric GENC TWI Farm & Heavy Construction Machinery median
Debt to equity 0.00 1.22 0.66
Current ratio 19.16 2.16 1.98
Net debt to EBITDA (8.32) 4.36 1.12

Dividend

Metric GENC TWI Farm & Heavy Construction Machinery median
Dividend yield — — 1.24%
Payout ratio — — 0.31

Size

Metric GENC TWI Farm & Heavy Construction Machinery median
Market cap 245.07m 303.65m 836.63m

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