We are lowering our fair value estimate for no-moat EVgo to $2 from $3 after updating our long-term assumptions. The primary driver of our decreased valuation is lower assumed long-term market share in electric vehicle fast charging. We view shares as fairly valued.
EVgo is a leading asset owner of fast-charging stations, which are expected to grow faster than slower-charge stations.
EVgo will face heightened competition when Tesla opens its Supercharger network to other automakers.
|
Metric
|
EVGO
|
TSLA
|
GM
|
|---|---|---|---|
Price/Earnings (Normalized) | — | 61.64 | 5.70 |
Price/Book Value | — | 8.34 | 0.76 |
Price/Sales | 0.97 | 6.20 | 0.34 |
Price/Cash Flow | — | 40.88 | 2.96 |
|
Metric
|
EVGO
|
TSLA
|
GM
|
|---|---|---|---|
Quick Ratio | 2.84 | 1.13 | 0.83 |
Current Ratio | 2.99 | 1.73 | 1.08 |
Interest Coverage | — | 58.10 | 11.20 |
|
Metric
|
EVGO
|
TSLA
|
GM
|
|---|---|---|---|
Return on Assets (Normalized) | −14.11% | 9.74% | 3.80% |
Return on Equity (Normalized) | — | 16.96% | 15.07% |
Return on Invested Capital (Normalized) | −19.84% | 13.43% | 5.37% |
|
Ticker
|
Name
|
Morningstar Rating for Stocks
|
Capital Allocation
|
Economic Moat
|
Market Cap
|
|---|---|---|---|---|---|
ORLY
| O'Reilly Automotive Inc | Ngzcdvnkv | Wjmwq | $61.6 Bil | |
AZO
| AutoZone Inc | Shnznvxfb | Xpzrh | $51.0 Bil | |
TSCO
| Tractor Supply Co | Hczdzpkyh | Bhmc | $27.6 Bil | |
ULTA
| Ulta Beauty Inc | Kpqwnlrfcm | Nlmnnf | $19.7 Bil | |
WSM
| Williams-Sonoma Inc | Spkpkrzt | Xmv | $18.3 Bil | |
DKS
| Dick's Sporting Goods Inc | Ztypkpwwp | Fhhy | $16.8 Bil | |
BBY
| Best Buy Co Inc | Cdcxdkyb | Hcmkmrx | $16.2 Bil | |
BBWI
| Bath & Body Works Inc | Bsnklcrtr | Thffgm | $10.4 Bil | |
RH
| RH Class A | Gyrstqkdt | Ffzkt | $4.5 Bil | |
CHPT
| ChargePoint Holdings Inc Ordinary Shares - Class A | Sgdpgrqr | Bcs | $537.7 Mil |
:quality(80)/s3.amazonaws.com/arc-authors/morningstar/a3416e63-64d9-4054-99c0-22cd1547b5a2.jpg)