Bakkt Holdings, Inc. (BKKT) vs CI&T Inc. (CINT)

Bakkt Holdings, Inc. and CI&T Inc. are both Software Infrastructure companies. Bakkt Holdings, Inc. and CI&T Inc. are of similar size ($398.0M and $385.3M). Bakkt Holdings, Inc. has negative trailing earnings, so its P/E is not meaningful; CI&T Inc. trades at 10.2×. CI&T Inc. grew revenue faster over the last twelve months: 19.5% against −70.0%. CI&T Inc. has the higher net margin (6.79% vs −2.78%) and the higher return on invested capital (9.44% vs −31.5%). Across the 19 metrics below, CI&T Inc. leads on 12 and Bakkt Holdings, Inc. on 7.

Valuation

Metric BKKT CINT Software Infrastructure median
P/E n/m 10.24 28.02
P/S 0.31 0.70 3.07
P/B 0.99 1.16 3.36
Price to free cash flow n/m 11.40 17.12
EV/EBITDA n/m 5.58 14.91
EV/Sales 0.29 0.86 3.03
Earnings yield (80.32%) 9.76% 0.13%
Free cash flow yield (24.96%) 8.77% 1.15%

Profitability

Metric BKKT CINT Software Infrastructure median
Gross margin 1.30% 31.16% 61.23%
Operating margin (13.70%) 11.48% 0.00%
Net margin (2.78%) 6.79% 0.00%
Free cash flow margin (7.84%) 6.11% 1.67%
Return on equity (15.04%) 11.72% 0.59%
Return on assets (10.44%) 6.46% 0.00%
Return on invested capital (31.48%) 9.44% 0.00%

Growth

Metric BKKT CINT Software Infrastructure median
Revenue growth (TTM) (69.95%) 19.48% 13.41%
EPS growth (last fiscal year) (11.29%) 50.00% —
Revenue growth, 5-year CAGR 141.39% 21.42% 15.81%
Net income growth, 5-year CAGR 0.00% 10.40% 0.00%

Health

Metric BKKT CINT Software Infrastructure median
Debt to equity 0.00 0.43 0.06
Current ratio 3.14 1.31 1.55
Net debt to EBITDA 0.19 0.94 0.08

Dividend

Metric BKKT CINT Software Infrastructure median
Dividend yield — — 1.53%
Payout ratio 0.00 0.00 0.00

Size

Metric BKKT CINT Software Infrastructure median
Market cap 397.96m 385.25m 835.96m

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