Planet Labs PBC (PL) vs VSE Corporation (VSEC)

Planet Labs PBC and VSE Corporation are both Aerospace & Defense companies. VSE Corporation is the larger, with a market value of $4.6B against $4.1B — 1.1× the size. Planet Labs PBC has negative trailing earnings, so its P/E is not meaningful; VSE Corporation trades at 60.0×. Planet Labs PBC grew revenue faster over the last twelve months: 44.1% against 41.6%. VSE Corporation has the higher net margin (5.53% vs −95.1%) and the higher return on invested capital (2.04% vs −44.2%). Across the 18 metrics below, VSE Corporation leads on 13 and Planet Labs PBC on 5.

Valuation

Metric PL VSEC Aerospace & Defense median
P/E n/m 59.96 28.48
P/S 10.90 3.78 2.95
P/B 7.31 1.75 2.68
Price to free cash flow 207.56 n/m 31.70
EV/EBITDA n/m 32.83 16.85
EV/Sales 9.82 4.43 2.74
Earnings yield (9.59%) 1.67% 0.89%
Free cash flow yield 0.48% (0.02%) 0.00%

Profitability

Metric PL VSEC Aerospace & Defense median
Gross margin 55.42% 15.62% 26.41%
Operating margin (27.16%) 9.15% 3.69%
Net margin (95.13%) 5.53% 2.74%
Free cash flow margin 5.25% (0.08%) 0.00%
Return on equity (71.97%) 3.84% 4.44%
Return on assets (33.83%) 2.50% 1.90%
Return on invested capital (44.19%) 2.04% 0.26%

Growth

Metric PL VSEC Aerospace & Defense median
Revenue growth (TTM) 44.12% 41.55% 18.03%
EPS growth (last fiscal year) (90.48%) (35.29%) 24.80%
Revenue growth, 5-year CAGR 22.15% 10.95% 9.73%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric PL VSEC Aerospace & Defense median
Debt to equity 0.79 0.32 0.20
Current ratio 2.84 3.77 2.85
Net debt to EBITDA 3.64 1.71 1.29

Dividend

Metric PL VSEC Aerospace & Defense median
Dividend yield — 0.24% 0.91%
Payout ratio — 0.15 0.30

Size

Metric PL VSEC Aerospace & Defense median
Market cap 4.14b 4.62b 1.78b

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