Belpointe PREP, LLC (OZ) vs Smith Douglas Homes Corp. (SDHC)

Belpointe PREP, LLC and Smith Douglas Homes Corp. are both Real Estate Development companies. Smith Douglas Homes Corp. is the larger, with a market value of $533.7M against $178.4M — 3.0× the size. Belpointe PREP, LLC has negative trailing earnings, so its P/E is not meaningful; Smith Douglas Homes Corp. trades at 14.3×. Belpointe PREP, LLC grew revenue faster over the last twelve months: 164.2% against −1.19%. Smith Douglas Homes Corp. has the higher net margin (0.64% vs −290.5%) and the higher return on invested capital (7.13% vs −5.01%). Across the 17 metrics below, Smith Douglas Homes Corp. leads on 14 and Belpointe PREP, LLC on 3.

Valuation

Metric OZ SDHC Real Estate Development median
P/E n/m 14.35 7.17
P/S 11.49 0.09 1.63
P/B 0.67 0.20 0.70
Price to free cash flow n/m 2.56 7.76
EV/EBITDA n/m 1.39 11.00
EV/Sales 29.17 0.07 2.43
Earnings yield (25.76%) 6.97% 7.33%
Free cash flow yield (31.80%) 39.10% (1.59%)

Profitability

Metric OZ SDHC Real Estate Development median
Gross margin (21.25%) 19.47% 29.60%
Operating margin (277.35%) 4.77% (2.67%)
Net margin (290.46%) 0.64% 3.36%
Free cash flow margin (365.36%) 3.38% (0.89%)
Return on equity (15.92%) 1.52% 0.56%
Return on assets (7.81%) 1.11% 1.11%
Return on invested capital (5.01%) 7.13% 0.00%

Growth

Metric OZ SDHC Real Estate Development median
Revenue growth (TTM) 164.23% (1.19%) 11.77%
EPS growth (last fiscal year) (63.41%) (34.25%) —
Revenue growth, 5-year CAGR 146.47% — 5.69%
Net income growth, 5-year CAGR 0.00% — 0.00%

Health

Metric OZ SDHC Real Estate Development median
Debt to equity 1.08 0.00 0.37
Current ratio 1.45 0.12 0.63
Net debt to EBITDA (8.65) (0.16) 1.81

Dividend

Metric OZ SDHC Real Estate Development median
Dividend yield — — —
Payout ratio 0.00 — 0.00

Size

Metric OZ SDHC Real Estate Development median
Market cap 178.40m 533.70m 178.40m

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