Innovex International, Inc. (INVX) vs Liberty Energy Inc. (LBRT)

Innovex International, Inc. and Liberty Energy Inc. are both Oil & Gas Equipment & Services companies. Liberty Energy Inc. is the larger, with a market value of $3.0B against $2.0B — 1.5× the size. Liberty Energy Inc. trades at the lower P/E: 25.3× against 32.0×. Innovex International, Inc. grew revenue faster over the last twelve months: 15.0% against 2.29%. Innovex International, Inc. has the higher net margin (6.17% vs 2.92%) and the higher return on invested capital (7.26% vs 1.14%). Across the 20 metrics below, Innovex International, Inc. leads on 11 and Liberty Energy Inc. on 9.

Valuation

Metric INVX LBRT Oil & Gas Equipment & Services median
P/E 32.02 25.25 24.78
P/S 1.97 0.74 1.28
P/B 1.85 1.57 1.85
Price to free cash flow 8.86 n/m 15.03
EV/EBITDA 9.98 7.64 8.93
EV/Sales 1.77 0.95 1.40
Earnings yield 3.12% 3.96% 3.12%
Free cash flow yield 11.29% (9.15%) 5.01%

Profitability

Metric INVX LBRT Oil & Gas Equipment & Services median
Gross margin 32.40% 18.53% 23.27%
Operating margin 10.03% 1.25% 9.34%
Net margin 6.17% 2.92% 4.69%
Free cash flow margin 22.18% (6.73%) 5.05%
Return on equity 5.99% 6.12% 4.92%
Return on assets 4.82% 3.09% 2.37%
Return on invested capital 7.26% 1.14% 4.32%

Growth

Metric INVX LBRT Oil & Gas Equipment & Services median
Revenue growth (TTM) 15.03% 2.29% 6.08%
EPS growth (last fiscal year) (56.68%) (52.41%) —
Revenue growth, 5-year CAGR 21.80% 32.91% 10.60%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric INVX LBRT Oil & Gas Equipment & Services median
Debt to equity 0.02 0.75 0.46
Current ratio 5.01 1.99 2.11
Net debt to EBITDA (0.86) 0.75 0.76

Dividend

Metric INVX LBRT Oil & Gas Equipment & Services median
Dividend yield — 1.47% 2.12%
Payout ratio 0.00 0.04 0.00

Size

Metric INVX LBRT Oil & Gas Equipment & Services median
Market cap 2.00b 2.97b 1.81b

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