Hayward Holdings, Inc. (HAYW) vs Plug Power, Inc. (PLUG)

Hayward Holdings, Inc. and Plug Power, Inc. are both Electrical Equipment & Parts companies. Hayward Holdings, Inc. is the larger, with a market value of $2.5B against $2.1B — 1.2× the size. Plug Power, Inc. has negative trailing earnings, so its P/E is not meaningful; Hayward Holdings, Inc. trades at 15.7×. Plug Power, Inc. grew revenue faster over the last twelve months: 10.6% against 7.78%. Hayward Holdings, Inc. has the higher net margin (13.8% vs −220.6%) and the higher return on invested capital (7.43% vs −74.2%). Across the 19 metrics below, Hayward Holdings, Inc. leads on 16 and Plug Power, Inc. on 3.

Valuation

Metric HAYW PLUG Electrical Equipment & Parts median
P/E 15.72 n/m 31.20
P/S 2.19 2.58 2.28
P/B 1.59 3.27 3.19
Price to free cash flow 12.49 n/m 27.15
EV/EBITDA 9.84 n/m 15.80
EV/Sales 2.59 3.25 2.38
Earnings yield 6.36% (91.30%) (5.87%)
Free cash flow yield 8.00% (27.17%) 0.00%

Profitability

Metric HAYW PLUG Electrical Equipment & Parts median
Gross margin 47.95% (18.55%) 25.38%
Operating margin 21.15% (172.77%) 0.00%
Net margin 13.83% (220.59%) 0.00%
Free cash flow margin 17.50% (70.20%) 0.00%
Return on equity 10.41% (139.62%) 0.14%
Return on assets 5.25% (59.19%) (1.50%)
Return on invested capital 7.43% (74.22%) 0.00%

Growth

Metric HAYW PLUG Electrical Equipment & Parts median
Revenue growth (TTM) 7.78% 10.59% 7.92%
EPS growth (last fiscal year) 25.93% 47.01% 27.37%
Revenue growth, 5-year CAGR 5.09% 0.00% 9.92%
Net income growth, 5-year CAGR 28.60% 0.00% 0.00%

Health

Metric HAYW PLUG Electrical Equipment & Parts median
Debt to equity 0.60 1.38 0.16
Current ratio 3.33 2.32 2.31
Net debt to EBITDA 1.90 (0.11) 0.26

Dividend

Metric HAYW PLUG Electrical Equipment & Parts median
Dividend yield — — 0.48%
Payout ratio — — 0.10

Size

Metric HAYW PLUG Electrical Equipment & Parts median
Market cap 2.49b 2.07b 157.22m

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