Airship AI Holdings, Inc. (AISP) vs FatPipe, Inc. (FATN)

Airship AI Holdings, Inc. and FatPipe, Inc. are both Software Infrastructure companies. FatPipe, Inc. is the larger, with a market value of $77.0M against $65.4M — 1.2× the size. Airship AI Holdings, Inc. trades at the lower P/E: 2.2× against 13.4×. Airship AI Holdings, Inc. grew revenue faster over the last twelve months: 32.2% against 23.2%. Airship AI Holdings, Inc. has the higher net margin (144.6% vs 26.8%) and the lower return on invested capital (0.00% vs 8.27%). Across the 17 metrics below, Airship AI Holdings, Inc. leads on 9 and FatPipe, Inc. on 8.

Valuation

Metric AISP FATN Software Infrastructure median
P/E 2.25 13.38 28.02
P/S 3.45 3.69 3.07
P/B n/m 2.82 3.36
Price to free cash flow n/m n/m 17.12
EV/EBITDA n/m 19.60 14.91
EV/Sales 2.94 3.68 3.03
Earnings yield 44.51% 7.47% 0.13%
Free cash flow yield (5.60%) (1.29%) 1.15%

Profitability

Metric AISP FATN Software Infrastructure median
Gross margin 56.17% 90.68% 61.23%
Operating margin (36.10%) 17.18% 0.00%
Net margin 144.60% 26.80% 0.00%
Free cash flow margin (19.32%) (4.75%) 1.67%
Return on equity (94.56%) 23.20% 0.59%
Return on assets 188.65% 16.12% 0.00%
Return on invested capital 0.00% 8.27% 0.00%

Growth

Metric AISP FATN Software Infrastructure median
Revenue growth (TTM) 32.24% 23.24% 13.41%
EPS growth (last fiscal year) 132.48% 130.41% —
Revenue growth, 5-year CAGR — — 15.81%
Net income growth, 5-year CAGR 42.33% — 0.00%

Health

Metric AISP FATN Software Infrastructure median
Debt to equity 0.00 0.16 0.06
Current ratio 3.18 3.98 1.55
Net debt to EBITDA 1.72 (0.25) 0.08

Dividend

Metric AISP FATN Software Infrastructure median
Dividend yield — — 1.53%
Payout ratio 0.00 — 0.00

Size

Metric AISP FATN Software Infrastructure median
Market cap 65.39m 77.00m 835.96m

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