Bakkt Holdings, Inc. (BKKT) vs INTERNATIONAL MONEY EXPRESS, INC. (IMXI)

Bakkt Holdings, Inc. and INTERNATIONAL MONEY EXPRESS, INC. are both Software Infrastructure companies. INTERNATIONAL MONEY EXPRESS, INC. is the larger, with a market value of $220.6M against $187.9M — 1.2× the size. Bakkt Holdings, Inc. has negative trailing earnings, so its P/E is not meaningful; INTERNATIONAL MONEY EXPRESS, INC. trades at 11.6×. INTERNATIONAL MONEY EXPRESS, INC. grew revenue faster over the last twelve months: −13.5% against −70.0%. INTERNATIONAL MONEY EXPRESS, INC. has the higher net margin (3.35% vs −2.78%) and the higher return on invested capital (14.6% vs −31.5%). Across the 19 metrics below, INTERNATIONAL MONEY EXPRESS, INC. leads on 10 and Bakkt Holdings, Inc. on 9.

Valuation

Metric BKKT IMXI Software Infrastructure median
P/E n/m 11.60 24.43
P/S 0.15 0.40 2.81
P/B 0.48 1.30 2.88
Price to free cash flow n/m 23.80 17.94
EV/EBITDA n/m 3.90 14.51
EV/Sales 0.13 0.37 2.91
Earnings yield (163.72%) 8.62% 0.00%
Free cash flow yield (50.89%) 4.20% 0.49%

Profitability

Metric BKKT IMXI Software Infrastructure median
Gross margin 1.30% 20.57% 57.45%
Operating margin (13.70%) 6.22% 0.00%
Net margin (2.78%) 3.35% 0.00%
Free cash flow margin (7.84%) 1.67% 0.00%
Return on equity (15.04%) 11.94% 0.00%
Return on assets (10.44%) 3.85% 0.00%
Return on invested capital (31.48%) 14.56% 0.00%

Growth

Metric BKKT IMXI Software Infrastructure median
Revenue growth (TTM) (69.95%) (13.50%) 14.28%
EPS growth (last fiscal year) (11.29%) (39.66%) 18.26%
Revenue growth, 5-year CAGR 141.39% 11.22% 16.15%
Net income growth, 5-year CAGR 0.00% (0.67%) 0.00%

Health

Metric BKKT IMXI Software Infrastructure median
Debt to equity 0.00 0.76 0.02
Current ratio 3.14 1.96 1.53
Net debt to EBITDA 0.19 0.57 0.05

Dividend

Metric BKKT IMXI Software Infrastructure median
Dividend yield — — 1.06%
Payout ratio — — 0.29

Size

Metric BKKT IMXI Software Infrastructure median
Market cap 187.94m 220.55m 661.51m

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