Bullish (BLSH) vs WEX Inc. (WEX)

Bullish and WEX Inc. are both Software Infrastructure companies. Bullish and WEX Inc. are of similar size ($6.3B and $6.0B). Bullish has negative trailing earnings, so its P/E is not meaningful; WEX Inc. trades at 17.5×. WEX Inc. grew revenue faster over the last twelve months: 7.46% against −26.5%. WEX Inc. has the higher net margin (12.6% vs −0.72%) and the higher return on invested capital (0.00% vs −56.9%). Across the 18 metrics below, WEX Inc. leads on 11 and Bullish on 7.

Valuation

Metric BLSH WEX Software Infrastructure median
P/E n/m 17.53 28.02
P/S 0.03 2.22 3.07
P/B 2.32 4.60 3.36
Price to free cash flow 49.01 123.97 17.12
EV/EBITDA n/m 3.80 14.91
EV/Sales 0.03 1.42 3.03
Earnings yield (24.53%) 5.70% 0.13%
Free cash flow yield 2.04% 0.81% 1.15%

Profitability

Metric BLSH WEX Software Infrastructure median
Gross margin 0.16% 59.61% 61.23%
Operating margin (0.78%) 25.47% 0.00%
Net margin (0.72%) 12.56% 0.00%
Free cash flow margin 0.06% 1.79% 1.67%
Return on equity (55.08%) 30.19% 0.59%
Return on assets (43.56%) 2.25% 0.00%
Return on invested capital (56.90%) 0.00% 0.00%

Growth

Metric BLSH WEX Software Infrastructure median
Revenue growth (TTM) (26.47%) 7.46% 13.41%
EPS growth (last fiscal year) (991.95%) 12.93% —
Revenue growth, 5-year CAGR — 11.27% 15.81%
Net income growth, 5-year CAGR — 0.00% 0.00%

Health

Metric BLSH WEX Software Infrastructure median
Debt to equity 0.20 2.62 0.06
Current ratio 23.52 1.04 1.55
Net debt to EBITDA 1.40 (2.49) 0.08

Dividend

Metric BLSH WEX Software Infrastructure median
Dividend yield — — 1.53%
Payout ratio — 0.00 0.00

Size

Metric BLSH WEX Software Infrastructure median
Market cap 5.97b 6.32b 835.96m

Compare with another peer

Any metric, up to five companies and an Excel export Powerpack