Gencor Industries Inc. (GENC) vs Wabash National Corporation (WNC)

Gencor Industries Inc. and Wabash National Corporation are both Farm & Heavy Construction Machinery companies. Wabash National Corporation is the larger, with a market value of $452.6M against $245.1M — 1.8× the size. Wabash National Corporation has negative trailing earnings, so its P/E is not meaningful; Gencor Industries Inc. trades at 16.4×. Gencor Industries Inc. grew revenue faster over the last twelve months: −6.39% against −7.31%. Gencor Industries Inc. has the higher net margin (13.5% vs −9.13%) and the higher return on invested capital (13.3% vs −13.3%). Across the 19 metrics below, Gencor Industries Inc. leads on 16 and Wabash National Corporation on 3.

Valuation

Metric GENC WNC Farm & Heavy Construction Machinery median
P/E 16.42 n/m 21.67
P/S 2.21 0.30 0.77
P/B 1.08 1.69 1.31
Price to free cash flow n/m n/m 20.59
EV/EBITDA 5.28 n/m 11.30
EV/Sales 0.72 0.61 1.11
Earnings yield 6.09% (30.33%) 3.08%
Free cash flow yield (0.66%) (21.12%) 3.12%

Profitability

Metric GENC WNC Farm & Heavy Construction Machinery median
Gross margin 28.58% 0.88% 22.91%
Operating margin 11.74% (10.38%) 4.47%
Net margin 13.53% (9.13%) 1.41%
Free cash flow margin (1.47%) (6.39%) 2.26%
Return on equity 6.85% (40.21%) 3.99%
Return on assets 6.49% (10.73%) 1.31%
Return on invested capital 13.32% (13.28%) 4.09%

Growth

Metric GENC WNC Farm & Heavy Construction Machinery median
Revenue growth (TTM) (6.39%) (7.31%) 1.81%
EPS growth (last fiscal year) 8.08% 179.22% (27.79%)
Revenue growth, 5-year CAGR 8.32% 0.81% 6.63%
Net income growth, 5-year CAGR 23.14% 0.00% 0.00%

Health

Metric GENC WNC Farm & Heavy Construction Machinery median
Debt to equity 0.00 1.99 0.66
Current ratio 19.16 1.38 1.98
Net debt to EBITDA (8.32) 1.12 1.12

Dividend

Metric GENC WNC Farm & Heavy Construction Machinery median
Dividend yield — 2.86% 1.24%
Payout ratio — — 0.31

Size

Metric GENC WNC Farm & Heavy Construction Machinery median
Market cap 245.07m 452.60m 836.63m

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