Bandwidth Inc. (BAND) vs Infleqtion, Inc. (INFQ)

Bandwidth Inc. and Infleqtion, Inc. are both Software Infrastructure companies. Infleqtion, Inc. is the larger, with a market value of $1.7B against $1.2B — 1.4× the size. Infleqtion, Inc. has negative trailing earnings, so its P/E is not meaningful; Bandwidth Inc. trades at 152×. Bandwidth Inc. has the higher net margin (1.01% vs −338.6%) and the higher return on invested capital (−1.37% vs −26.0%). Across the 16 metrics below, Bandwidth Inc. leads on 13 and Infleqtion, Inc. on 3.

Valuation

Metric BAND INFQ Software Infrastructure median
P/E 152.44 n/m 24.52
P/S 1.48 53.83 2.78
P/B 3.38 3.43 2.84
Price to free cash flow 14.81 n/m 18.22
EV/EBITDA 24.44 n/m 13.98
EV/Sales 1.70 40.79 2.92
Earnings yield 0.66% (19.01%) 0.00%
Free cash flow yield 6.75% (0.52%) 0.37%

Profitability

Metric BAND INFQ Software Infrastructure median
Gross margin 36.69% 22.45% 57.91%
Operating margin (1.30%) (147.92%) 0.00%
Net margin 1.01% (338.57%) 0.00%
Free cash flow margin 10.02% (28.13%) 0.00%
Return on equity 2.26% (43.14%) 0.00%
Return on assets 0.82% (23.38%) 0.00%
Return on invested capital (1.37%) (26.00%) 0.00%

Growth

Metric BAND INFQ Software Infrastructure median
Revenue growth (TTM) 15.11% — 14.42%
EPS growth (last fiscal year) (79.17%) (26,711.59%) 17.35%
Revenue growth, 5-year CAGR 17.05% — 16.15%
Net income growth, 5-year CAGR 0.00% — 0.00%

Health

Metric BAND INFQ Software Infrastructure median
Debt to equity 0.81 0.00 0.02
Current ratio 1.92 9.34 1.53
Net debt to EBITDA 3.09 0.09 0.05

Dividend

Metric BAND INFQ Software Infrastructure median
Dividend yield — — 1.04%
Payout ratio — — 0.29

Size

Metric BAND INFQ Software Infrastructure median
Market cap 1.22b 1.68b 606.60m

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