C3.ai, Inc. (AI) vs Pagaya Technologies Ltd. (PGY)

C3.ai, Inc. and Pagaya Technologies Ltd. are both Software Infrastructure companies. C3.ai, Inc. and Pagaya Technologies Ltd. are of similar size ($1.7B and $1.6B). C3.ai, Inc. has negative trailing earnings, so its P/E is not meaningful; Pagaya Technologies Ltd. trades at 11.7×. Pagaya Technologies Ltd. grew revenue faster over the last twelve months: 20.6% against −37.6%. Pagaya Technologies Ltd. has the higher net margin (9.11% vs −192.1%) and the higher return on invested capital (741.9% vs −673.0%). Across the 19 metrics below, Pagaya Technologies Ltd. leads on 18 and C3.ai, Inc. on 1.

Valuation

Metric AI PGY Software Infrastructure median
P/E n/m 11.75 28.02
P/S 7.10 1.05 3.07
P/B 2.38 2.26 3.36
Price to free cash flow n/m 5.82 17.12
EV/EBITDA n/m 2.75 14.91
EV/Sales 4.30 0.74 3.03
Earnings yield (28.92%) 8.51% 0.13%
Free cash flow yield (9.44%) 17.18% 1.15%

Profitability

Metric AI PGY Software Infrastructure median
Gross margin 29.09% 43.39% 61.23%
Operating margin (203.09%) 24.86% 0.00%
Net margin (192.10%) 9.11% 0.00%
Free cash flow margin (67.03%) 18.11% 1.67%
Return on equity (59.77%) 22.68% 0.59%
Return on assets (48.43%) 8.19% 0.00%
Return on invested capital (673.03%) 741.93% 0.00%

Growth

Metric AI PGY Software Infrastructure median
Revenue growth (TTM) (37.55%) 20.55% 13.41%
EPS growth (last fiscal year) (49.55%) 116.43% —
Revenue growth, 5-year CAGR 6.44% 67.40% 15.81%
Net income growth, 5-year CAGR 0.00% 75.33% 0.00%

Health

Metric AI PGY Software Infrastructure median
Debt to equity 0.00 1.12 0.06
Current ratio 6.16 11.08 1.55
Net debt to EBITDA 1.19 (1.90) 0.08

Dividend

Metric AI PGY Software Infrastructure median
Dividend yield — — 1.53%
Payout ratio 0.00 0.00 0.00

Size

Metric AI PGY Software Infrastructure median
Market cap 1.73b 1.59b 835.96m

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