SOLV Energy Inc. (MWH) vs Energy Vault Holdings, Inc. (NRGV)

SOLV Energy Inc. and Energy Vault Holdings, Inc. are both Utilities Renewable companies. SOLV Energy Inc. is the larger, with a market value of $4.8B against $509.2M — 9.5× the size. SOLV Energy Inc. has the higher net margin (2.22% vs −48.6%) and the higher return on invested capital (14.6% vs −32.5%). Across the 13 metrics below, SOLV Energy Inc. leads on 11 and Energy Vault Holdings, Inc. on 2.

Valuation

Metric MWH NRGV Utilities Renewable median
P/E — n/m 14.42
P/S 1.11 2.25 1.78
P/B 3.36 74.03 0.88
Price to free cash flow 37.83 n/m 11.75
EV/EBITDA 11.64 n/m 10.16
EV/Sales 1.00 2.85 3.74
Earnings yield — (23.16%) (11.66%)
Free cash flow yield 2.64% (28.52%) (27.02%)

Profitability

Metric MWH NRGV Utilities Renewable median
Gross margin 16.75% 22.47% 40.59%
Operating margin 5.05% (32.84%) 0.00%
Net margin 2.22% (48.58%) 0.00%
Free cash flow margin 2.94% (64.08%) (1.11%)
Return on equity 0.00% (225.87%) 0.00%
Return on assets 5.37% (35.43%) (0.07%)
Return on invested capital 14.63% (32.53%) 0.00%

Growth

Metric MWH NRGV Utilities Renewable median
Revenue growth (TTM) — 336.76% 16.77%
EPS growth (last fiscal year) — 28.57% 28.57%
Revenue growth, 5-year CAGR — — 7.01%
Net income growth, 5-year CAGR — 0.00% 0.00%

Health

Metric MWH NRGV Utilities Renewable median
Debt to equity 0.08 35.44 0.37
Current ratio 1.09 1.19 0.98
Net debt to EBITDA — (0.46) 3.56

Dividend

Metric MWH NRGV Utilities Renewable median
Dividend yield — — 3.15%
Payout ratio — — 0.17

Size

Metric MWH NRGV Utilities Renewable median
Market cap 4.82b 509.15m 849.13m

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