Bitdeer Technologies Group (BTDR) vs SPS Commerce, Inc. (SPSC)

Bitdeer Technologies Group and SPS Commerce, Inc. are both Software Application companies. Bitdeer Technologies Group is the larger, with a market value of $3.3B against $3.0B — 1.1× the size. Bitdeer Technologies Group has negative trailing earnings, so its P/E is not meaningful; SPS Commerce, Inc. trades at 39.1×. Bitdeer Technologies Group grew revenue faster over the last twelve months: 127.7% against 9.80%. SPS Commerce, Inc. has the higher net margin (10.1% vs −28.1%) and the higher return on invested capital (8.07% vs 0.75%). Across the 18 metrics below, SPS Commerce, Inc. leads on 14 and Bitdeer Technologies Group on 4.

Valuation

Metric BTDR SPSC Software Application median
P/E n/m 39.09 24.79
P/S 3.49 3.84 2.67
P/B 2.57 3.16 3.01
Price to free cash flow n/m 14.95 16.59
EV/EBITDA 141.48 17.51 14.40
EV/Sales 5.15 3.62 2.62
Earnings yield (8.34%) 2.56% 0.00%
Free cash flow yield (73.74%) 6.69% 1.91%

Profitability

Metric BTDR SPSC Software Application median
Gross margin 0.67% 69.82% 67.03%
Operating margin 3.64% 12.80% 0.00%
Net margin (28.14%) 10.10% 0.00%
Free cash flow margin (257.38%) 25.72% 4.32%
Return on equity (25.26%) 8.26% 0.00%
Return on assets (8.33%) 6.94% 0.00%
Return on invested capital 0.75% 8.07% 0.00%

Growth

Metric BTDR SPSC Software Application median
Revenue growth (TTM) 127.68% 9.80% 12.40%
EPS growth (last fiscal year) 106.42% 20.59% —
Revenue growth, 5-year CAGR — 19.17% 13.72%
Net income growth, 5-year CAGR — 15.41% 0.00%

Health

Metric BTDR SPSC Software Application median
Debt to equity 1.67 0.00 0.02
Current ratio 1.01 2.26 1.55
Net debt to EBITDA 2.26 (0.86) 0.06

Dividend

Metric BTDR SPSC Software Application median
Dividend yield — — 1.25%
Payout ratio 0.00 0.00 0.00

Size

Metric BTDR SPSC Software Application median
Market cap 3.34b 3.00b 396.11m

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