OPAL Fuels Inc. (OPAL) vs INNOVATE Corp. (VATE)

OPAL Fuels Inc. and INNOVATE Corp. are both Engineering & Construction companies. OPAL Fuels Inc. is the larger, with a market value of $239.3M against $67.8M — 3.5× the size. INNOVATE Corp. grew revenue faster over the last twelve months: 52.4% against 3.02%. OPAL Fuels Inc. has the higher net margin (−0.13% vs −1.58%) and the lower return on invested capital (0.39% vs 13.1%). Across the 17 metrics below, INNOVATE Corp. leads on 11 and OPAL Fuels Inc. on 6.

Valuation

Metric OPAL VATE Engineering & Construction median
P/E n/m n/m 27.65
P/S 0.12 0.04 0.85
P/B 1.08 n/m 3.04
Price to free cash flow n/m 0.64 19.05
EV/EBITDA 14.04 4.91 11.89
EV/Sales 1.12 0.39 1.20
Earnings yield (0.72%) (36.29%) 2.77%
Free cash flow yield (117.20%) 156.76% 2.00%

Profitability

Metric OPAL VATE Engineering & Construction median
Gross margin 29.42% 15.93% 18.76%
Operating margin 0.69% 4.28% 6.43%
Net margin (0.13%) (1.58%) 2.14%
Free cash flow margin (14.10%) 7.01% 1.12%
Return on equity (5.45%) 11.03% 6.05%
Return on assets (0.04%) (2.53%) 1.19%
Return on invested capital 0.39% 13.11% 2.52%

Growth

Metric OPAL VATE Engineering & Construction median
Revenue growth (TTM) 3.02% 52.38% 18.09%
EPS growth (last fiscal year) 650.00% (57.14%) 13.42%
Revenue growth, 5-year CAGR — 11.69% 12.23%
Net income growth, 5-year CAGR — 0.00% 0.00%

Health

Metric OPAL VATE Engineering & Construction median
Debt to equity 11.39 (2.81) 0.41
Current ratio 1.82 0.44 1.37
Net debt to EBITDA 10.02 6.64 0.38

Dividend

Metric OPAL VATE Engineering & Construction median
Dividend yield — — 0.68%
Payout ratio — — 0.18

Size

Metric OPAL VATE Engineering & Construction median
Market cap 239.32m 67.80m 1.13b

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