Moog Inc. (MOG.B) vs VSE Corporation (VSEC)

Moog Inc. and VSE Corporation are both Aerospace & Defense companies. VSE Corporation is the larger, with a market value of $4.5B against $3.7B — 1.2× the size. Moog Inc. trades at the lower P/E: 30.0× against 51.8×. VSE Corporation grew revenue faster over the last twelve months: 41.6% against 15.8%. Moog Inc. has the higher net margin (8.73% vs 5.53%) and the higher return on invested capital (10.5% vs 2.04%). Across the 21 metrics below, Moog Inc. leads on 14 and VSE Corporation on 7.

Valuation

Metric MOG.B VSEC Aerospace & Defense median
P/E 29.98 51.83 31.81
P/S 2.62 3.72 3.55
P/B 5.09 1.72 2.59
Price to free cash flow 31.99 n/m 31.99
EV/EBITDA 19.23 32.36 18.08
EV/Sales 2.81 4.36 3.37
Earnings yield 3.34% 1.93% 1.38%
Free cash flow yield 3.13% (0.02%) 0.21%

Profitability

Metric MOG.B VSEC Aerospace & Defense median
Gross margin 28.20% 15.62% 25.48%
Operating margin 11.93% 9.15% 4.54%
Net margin 8.73% 5.53% 2.22%
Free cash flow margin 8.18% (0.08%) 1.43%
Return on equity 18.11% 3.84% 6.43%
Return on assets 8.23% 2.50% 2.70%
Return on invested capital 10.52% 2.04% 1.56%

Growth

Metric MOG.B VSEC Aerospace & Defense median
Revenue growth (TTM) 15.81% 41.55% 18.43%
EPS growth (last fiscal year) 14.53% 24.14% 24.27%
Revenue growth, 5-year CAGR 6.00% 10.95% 9.73%
Net income growth, 5-year CAGR 91.17% 0.00% 0.00%

Health

Metric MOG.B VSEC Aerospace & Defense median
Debt to equity 0.41 0.32 0.24
Current ratio 2.09 3.77 2.72
Net debt to EBITDA 1.75 1.71 1.12

Dividend

Metric MOG.B VSEC Aerospace & Defense median
Dividend yield — 0.24% 0.90%
Payout ratio — 0.13 0.32

Size

Metric MOG.B VSEC Aerospace & Defense median
Market cap 3.66b 4.53b 2.19b

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