Spruce Power Holding Corporation (SPRU) vs CSLM Acquisition Corp. (SPWR)

Spruce Power Holding Corporation and CSLM Acquisition Corp. are both Solar companies. CSLM Acquisition Corp. is the larger, with a market value of $99.3M against $38.1M — 2.6× the size. CSLM Acquisition Corp. grew revenue faster over the last twelve months: 18.6% against 10.2%. CSLM Acquisition Corp. has the higher net margin (−3.77% vs −6.76%) and the lower return on invested capital (−38.2% vs 2.16%). Across the 16 metrics below, Spruce Power Holding Corporation leads on 8 and CSLM Acquisition Corp. on 8.

Valuation

Metric SPRU SPWR Solar median
P/E n/m n/m 10.93
P/S 0.33 0.16 0.54
P/B 0.29 n/m 1.44
Price to free cash flow 4.56 n/m 9.91
EV/EBITDA 10.39 n/m 9.90
EV/Sales 5.69 0.59 0.74
Earnings yield (22.16%) (61.97%) 0.00%
Free cash flow yield 21.93% (133.02%) 0.00%

Profitability

Metric SPRU SPWR Solar median
Gross margin 66.41% 52.17% 31.92%
Operating margin 22.47% (20.11%) (9.70%)
Net margin (6.76%) (3.77%) (8.48%)
Free cash flow margin 7.30% (21.35%) (2.95%)
Return on equity (5.86%) 15.27% 5.34%
Return on assets (0.87%) (5.36%) (5.36%)
Return on invested capital 2.16% (38.19%) (5.27%)

Growth

Metric SPRU SPWR Solar median
Revenue growth (TTM) 10.22% 18.59% 16.97%
EPS growth (last fiscal year) 62.30% 30.18% —
Revenue growth, 5-year CAGR 40.62% — 14.00%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric SPRU SPWR Solar median
Debt to equity 5.39 (4.70) 0.09
Current ratio 0.40 0.82 1.33
Net debt to EBITDA 11.36 (60.25) 0.03

Dividend

Metric SPRU SPWR Solar median
Dividend yield — — —
Payout ratio 0.00 0.00 0.00

Size

Metric SPRU SPWR Solar median
Market cap 38.12m 99.26m 43.46m

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