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 $522.3M against $259.9M — 2.0× the size. Wabash National Corporation has negative trailing earnings, so its P/E is not meaningful; Gencor Industries Inc. trades at 17.6×. Gencor Industries Inc. grew revenue faster over the last twelve months: −6.39% against −17.3%. Gencor Industries Inc. has the higher net margin (13.5% vs −5.48%) and the higher return on invested capital (13.3% vs −6.81%). Across the 19 metrics below, Gencor Industries Inc. leads on 14 and Wabash National Corporation on 5.

Valuation

Metric GENC WNC Farm & Heavy Construction Machinery median
P/E 17.60 n/m 23.28
P/S 2.37 0.36 0.75
P/B 1.16 1.74 1.43
Price to free cash flow n/m 85.61 22.25
EV/EBITDA 6.44 n/m 11.41
EV/Sales 0.88 0.67 1.14
Earnings yield 5.68% (15.46%) 2.83%
Free cash flow yield (0.62%) 1.17% 2.91%

Profitability

Metric GENC WNC Farm & Heavy Construction Machinery median
Gross margin 28.58% 1.00% 24.21%
Operating margin 11.74% (5.62%) 4.47%
Net margin 13.53% (5.48%) 1.49%
Free cash flow margin (1.47%) 0.42% 2.15%
Return on equity 6.85% (22.97%) 3.99%
Return on assets 6.49% (5.96%) 1.31%
Return on invested capital 13.32% (6.81%) 3.36%

Growth

Metric GENC WNC Farm & Heavy Construction Machinery median
Revenue growth (TTM) (6.39%) (17.26%) 2.18%
EPS growth (last fiscal year) 8.08% 179.22% (27.79%)
Revenue growth, 5-year CAGR 8.32% 0.81% 7.34%
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 1.75 0.67
Current ratio 19.16 1.31 1.98
Net debt to EBITDA (8.32) 1.12 1.12

Dividend

Metric GENC WNC Farm & Heavy Construction Machinery median
Dividend yield — 2.58% 1.34%
Payout ratio — — 0.30

Size

Metric GENC WNC Farm & Heavy Construction Machinery median
Market cap 259.88m 522.25m 808.87m

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