Bakkt Holdings, Inc. (BKKT) vs OBOOK Holdings Inc. (OWLS)

Bakkt Holdings, Inc. and OBOOK Holdings Inc. are both Software Infrastructure companies. OBOOK Holdings Inc. is the larger, with a market value of $481.4M against $398.0M — 1.2× the size. Across the 9 metrics below, OBOOK Holdings Inc. leads on 6 and Bakkt Holdings, Inc. on 3.

Valuation

Metric BKKT OWLS Software Infrastructure median
P/E n/m — 28.02
P/S 0.31 — 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 n/m 3.03
Earnings yield (80.32%) — 0.13%
Free cash flow yield (24.96%) 0.00% 1.15%

Profitability

Metric BKKT OWLS Software Infrastructure median
Gross margin 1.30% — 61.23%
Operating margin (13.70%) — 0.00%
Net margin (2.78%) — 0.00%
Free cash flow margin (7.84%) 0.00% 1.67%
Return on equity (15.04%) 0.00% 0.59%
Return on assets (10.44%) 0.00% 0.00%
Return on invested capital (31.48%) 0.00% 0.00%

Growth

Metric BKKT OWLS Software Infrastructure median
Revenue growth (TTM) (69.95%) — 13.41%
EPS growth (last fiscal year) (11.29%) (200.00%) —
Revenue growth, 5-year CAGR 141.39% — 15.81%
Net income growth, 5-year CAGR 0.00% — 0.00%

Health

Metric BKKT OWLS Software Infrastructure median
Debt to equity 0.00 (0.24) 0.06
Current ratio 3.14 0.55 1.55
Net debt to EBITDA 0.19 0.42 0.08

Dividend

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

Size

Metric BKKT OWLS Software Infrastructure median
Market cap 397.96m 481.42m 835.96m

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