Bakkt Holdings, Inc. (BKKT) vs Corvex, Inc. (MOVE)

Bakkt Holdings, Inc. and Corvex, Inc. are both Software Infrastructure companies. Bakkt Holdings, Inc. and Corvex, Inc. are of similar size ($398.0M and $378.0M). Corvex, Inc. grew revenue faster over the last twelve months: 843.6% against −70.0%. Bakkt Holdings, Inc. has the higher net margin (−2.78% vs −627.8%) and the lower return on invested capital (−31.5% vs −3.04%). Across the 16 metrics below, Bakkt Holdings, Inc. leads on 9 and Corvex, Inc. on 7.

Valuation

Metric BKKT MOVE Software Infrastructure median
P/E n/m n/m 28.02
P/S 0.31 6.65 3.07
P/B 0.99 n/m 3.36
Price to free cash flow n/m n/m 17.12
EV/EBITDA n/m n/m 14.91
EV/Sales 0.29 4.03 3.03
Earnings yield (80.32%) (160.24%) 0.13%
Free cash flow yield (24.96%) (68.90%) 1.15%

Profitability

Metric BKKT MOVE Software Infrastructure median
Gross margin 1.30% 12.09% 61.23%
Operating margin (13.70%) (610.33%) 0.00%
Net margin (2.78%) (627.82%) 0.00%
Free cash flow margin (7.84%) (458.24%) 1.67%
Return on equity (15.04%) 2,480.53% 0.59%
Return on assets (10.44%) (9.20%) 0.00%
Return on invested capital (31.48%) (3.04%) 0.00%

Growth

Metric BKKT MOVE Software Infrastructure median
Revenue growth (TTM) (69.95%) 843.62% 13.41%
EPS growth (last fiscal year) (11.29%) 44.70% —
Revenue growth, 5-year CAGR 141.39% — 15.81%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric BKKT MOVE Software Infrastructure median
Debt to equity 0.00 0.01 0.06
Current ratio 3.14 1.80 1.55
Net debt to EBITDA 0.19 (0.12) 0.08

Dividend

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

Size

Metric BKKT MOVE Software Infrastructure median
Market cap 397.96m 378.00m 835.96m

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