Proto Labs, Inc. (PRLB) vs Worthington Enterprises, Inc. (WOR)

Proto Labs, Inc. and Worthington Enterprises, Inc. are both Metal Fabrication companies. Worthington Enterprises, Inc. is the larger, with a market value of $3.0B against $2.2B — 1.3× the size. Worthington Enterprises, Inc. trades at the lower P/E: 18.5× against 75.9×. Worthington Enterprises, Inc. grew revenue faster over the last twelve months: 18.4% against 10.2%. Worthington Enterprises, Inc. has the higher net margin (11.5% vs 5.44%) and the lower return on invested capital (3.85% vs 4.19%). Across the 22 metrics below, Worthington Enterprises, Inc. leads on 13 and Proto Labs, Inc. on 9.

Valuation

Metric PRLB WOR Metal Fabrication median
P/E 75.85 18.54 17.15
P/S 4.12 2.13 1.14
P/B 3.34 2.94 1.71
Price to free cash flow 39.28 15.30 22.10
EV/EBITDA 31.42 24.56 17.60
EV/Sales 3.90 2.31 1.96
Earnings yield 1.32% 5.39% 2.28%
Free cash flow yield 2.55% 6.54% 0.92%

Profitability

Metric PRLB WOR Metal Fabrication median
Gross margin 45.42% 27.22% 21.08%
Operating margin 6.57% 5.63% 5.14%
Net margin 5.44% 11.50% 4.70%
Free cash flow margin 10.49% 13.90% 1.45%
Return on equity 4.49% 0.00% 0.00%
Return on assets 3.97% 9.14% 1.56%
Return on invested capital 4.19% 3.85% 2.19%

Growth

Metric PRLB WOR Metal Fabrication median
Revenue growth (TTM) 10.20% 18.44% 9.93%
EPS growth (last fiscal year) 33.33% 63.54% —
Revenue growth, 5-year CAGR 4.18% (15.32%) 6.12%
Net income growth, 5-year CAGR (16.03%) (26.42%) 0.00%

Health

Metric PRLB WOR Metal Fabrication median
Debt to equity 0.00 0.29 0.30
Current ratio 3.64 2.67 2.08
Net debt to EBITDA (2.17) 2.08 1.02

Dividend

Metric PRLB WOR Metal Fabrication median
Dividend yield — 0.69% 1.69%
Payout ratio 0.00 0.21 0.06

Size

Metric PRLB WOR Metal Fabrication median
Market cap 2.22b 2.95b 896.96m

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