C3.ai, Inc. (AI) vs Calix, Inc (CALX)

C3.ai, Inc. and Calix, Inc are both Software Infrastructure companies. C3.ai, Inc. and Calix, Inc are of similar size ($2.0B and $1.8B). C3.ai, Inc. has negative trailing earnings, so its P/E is not meaningful; Calix, Inc trades at 44.9×. Calix, Inc grew revenue faster over the last twelve months: 22.9% against −37.6%. Calix, Inc has the higher net margin (3.99% vs −192.1%) and the higher return on invested capital (6.95% vs −673.0%). Across the 18 metrics below, Calix, Inc leads on 15 and C3.ai, Inc. on 3.

Valuation

Metric AI CALX Software Infrastructure median
P/E n/m 44.87 24.43
P/S 7.62 1.75 2.81
P/B 2.55 2.88 2.88
Price to free cash flow n/m 32.29 17.94
EV/EBITDA n/m 24.30 14.51
EV/Sales 4.82 1.65 2.91
Earnings yield (26.95%) 2.23% 0.00%
Free cash flow yield (8.79%) 3.10% 0.49%

Profitability

Metric AI CALX Software Infrastructure median
Gross margin 29.09% 55.56% 57.45%
Operating margin (203.09%) 5.26% 0.00%
Net margin (192.10%) 3.99% 0.00%
Free cash flow margin (67.03%) 5.42% 0.00%
Return on equity (59.77%) 6.02% 0.00%
Return on assets (48.43%) 4.83% 0.00%
Return on invested capital (673.03%) 6.95% 0.00%

Growth

Metric AI CALX Software Infrastructure median
Revenue growth (TTM) (37.55%) 22.90% 14.28%
EPS growth (last fiscal year) (49.55%) 157.78% 18.26%
Revenue growth, 5-year CAGR 6.44% 13.06% 16.15%
Net income growth, 5-year CAGR 0.00% (11.79%) 0.00%

Health

Metric AI CALX Software Infrastructure median
Debt to equity 0.00 0.00 0.02
Current ratio 6.16 3.04 1.53
Net debt to EBITDA 1.19 (10.03) 0.05

Dividend

Metric AI CALX Software Infrastructure median
Dividend yield — — 1.06%
Payout ratio — — 0.29

Size

Metric AI CALX Software Infrastructure median
Market cap 1.83b 1.97b 661.51m

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