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 $3.4B against $1.9B — 1.8× the size. Plug Power, Inc. has negative trailing earnings, so its P/E is not meaningful; Hayward Holdings, Inc. trades at 20.5×. Plug Power, Inc. grew revenue faster over the last twelve months: 10.6% against 7.57%. Hayward Holdings, Inc. has the higher net margin (14.4% vs −220.6%) and the higher return on invested capital (7.73% vs −74.2%). Across the 19 metrics below, Hayward Holdings, Inc. leads on 14 and Plug Power, Inc. on 5.

Valuation

Metric HAYW PLUG Electrical Equipment & Parts median
P/E 20.52 n/m 24.14
P/S 2.92 2.54 2.33
P/B 2.17 3.22 2.49
Price to free cash flow 21.60 n/m 22.24
EV/EBITDA 12.44 n/m 12.18
EV/Sales 3.32 3.21 1.79
Earnings yield 4.87% (92.65%) (6.07%)
Free cash flow yield 4.63% (27.57%) (5.34%)

Profitability

Metric HAYW PLUG Electrical Equipment & Parts median
Gross margin 47.98% (18.55%) 29.92%
Operating margin 21.64% (172.77%) 0.00%
Net margin 14.35% (220.59%) 0.00%
Free cash flow margin 13.52% (70.20%) 0.00%
Return on equity 10.92% (139.62%) 0.00%
Return on assets 5.54% (59.19%) 0.00%
Return on invested capital 7.73% (74.22%) 0.00%

Growth

Metric HAYW PLUG Electrical Equipment & Parts median
Revenue growth (TTM) 7.57% 10.59% 10.59%
EPS growth (last fiscal year) 25.93% 47.01% 24.08%
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 0.15
Current ratio 3.33 2.32 2.34
Net debt to EBITDA 1.90 (0.11) 0.26

Dividend

Metric HAYW PLUG Electrical Equipment & Parts median
Dividend yield — — 0.33%
Payout ratio — — 0.09

Size

Metric HAYW PLUG Electrical Equipment & Parts median
Market cap 3.41b 1.89b 159.94m

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