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. and Plug Power, Inc. are of similar size ($2.8B and $2.7B). Plug Power, Inc. has negative trailing earnings, so its P/E is not meaningful; Hayward Holdings, Inc. trades at 16.8×. 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 16.84 n/m 36.10
P/S 2.34 3.70 2.73
P/B 1.71 4.69 3.57
Price to free cash flow 13.38 n/m 33.31
EV/EBITDA 10.43 n/m 18.07
EV/Sales 2.75 4.37 2.75
Earnings yield 5.94% (63.64%) (5.84%)
Free cash flow yield 7.47% (18.94%) 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%) 0.94%
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% 9.28%
EPS growth (last fiscal year) 25.93% 47.01% —
Revenue growth, 5-year CAGR 5.09% 0.00% 9.80%
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 0.08
Current ratio 3.33 2.32 2.18
Net debt to EBITDA 1.90 (0.11) 0.26

Dividend

Metric HAYW PLUG Electrical Equipment & Parts median
Dividend yield — — 0.84%
Payout ratio 0.00 0.00 0.00

Size

Metric HAYW PLUG Electrical Equipment & Parts median
Market cap 2.66b 2.78b 177.98m

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