Bending Spoons S.p.A. (BSP) vs Unity Software Inc. (U)

Bending Spoons S.p.A. and Unity Software Inc. are both Software Application companies. Bending Spoons S.p.A. is the larger, with a market value of $29.6B against $21.5B — 1.4× the size. Unity Software Inc. has negative trailing earnings, so its P/E is not meaningful; Bending Spoons S.p.A. trades at 156×. Bending Spoons S.p.A. has the higher net margin (8.40% vs −15.6%) and the higher return on invested capital (5.34% vs −8.55%). Across the 18 metrics below, Unity Software Inc. leads on 11 and Bending Spoons S.p.A. on 7.

Valuation

Metric BSP U Software Application median
P/E 155.55 n/m 26.44
P/S 13.60 11.87 2.90
P/B 20.27 7.95 2.60
Price to free cash flow 74.58 43.77 17.04
EV/EBITDA 43.61 636.36 15.48
EV/Sales 15.78 11.68 3.00
Earnings yield 0.64% (1.52%) 0.20%
Free cash flow yield 1.34% 2.28% 1.96%

Profitability

Metric BSP U Software Application median
Gross margin 66.21% 67.65% 67.34%
Operating margin 24.34% (17.87%) 0.00%
Net margin 8.40% (15.59%) 0.00%
Free cash flow margin 18.23% 27.84% 5.77%
Return on equity 0.00% (10.52%) 0.00%
Return on assets 3.91% (4.95%) 0.00%
Return on invested capital 5.34% (8.55%) 0.00%

Growth

Metric BSP U Software Application median
Revenue growth (TTM) — 20.86% 12.12%
EPS growth (last fiscal year) (100.00%) 42.86% 32.44%
Revenue growth, 5-year CAGR — 19.08% 14.34%
Net income growth, 5-year CAGR — 0.00% 0.00%

Health

Metric BSP U Software Application median
Debt to equity 3.88 0.69 0.04
Current ratio 0.64 2.16 1.53
Net debt to EBITDA 4.69 (9.91) 0.09

Dividend

Metric BSP U Software Application median
Dividend yield — — 1.07%
Payout ratio — — 0.28

Size

Metric BSP U Software Application median
Market cap 29.61b 21.48b 383.88m

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