BitGo Holdings, Inc. (BTGO) vs Perella Weinberg Partners (PWP)

BitGo Holdings, Inc. and Perella Weinberg Partners are both Capital Markets companies. Perella Weinberg Partners is the larger, with a market value of $1.3B against $936.8M — 1.4× the size. BitGo Holdings, Inc. has negative trailing earnings, so its P/E is not meaningful; Perella Weinberg Partners trades at 45.2×. Perella Weinberg Partners has the higher net margin (3.22% vs −0.55%) and the higher return on invested capital (0.00% vs 0.00%). Across the 14 metrics below, Perella Weinberg Partners leads on 8 and BitGo Holdings, Inc. on 6.

Valuation

Metric BTGO PWP Capital Markets median
P/E n/m 45.22 15.78
P/S 0.05 1.56 2.32
P/B n/m n/m 1.89
Price to free cash flow n/m 12.18 6.25
EV/EBITDA n/m 26.95 8.87
EV/Sales (0.19) 1.64 2.28
Earnings yield (11.55%) 2.21% (3.77%)
Free cash flow yield (7.43%) 8.21% (1.49%)

Profitability

Metric BTGO PWP Capital Markets median
Gross margin 37.64% 25.17% 62.80%
Operating margin 36.69% 2.84% 0.00%
Net margin (0.55%) 3.22% (0.55%)
Free cash flow margin (0.39%) 12.78% 0.00%
Return on equity 0.00% (12.19%) 0.00%
Return on assets (3.02%) 3.55% 0.00%
Return on invested capital 0.00% 0.00% 0.00%

Growth

Metric BTGO PWP Capital Markets median
Revenue growth (TTM) — (20.87%) 21.02%
EPS growth (last fiscal year) (114.62%) 138.52% —
Revenue growth, 5-year CAGR — 7.67% 18.16%
Net income growth, 5-year CAGR — 0.00% 0.00%

Health

Metric BTGO PWP Capital Markets median
Debt to equity 1.75 0.00 0.08
Current ratio 1.07 1.61 1.51
Net debt to EBITDA (329.19) (3.73) (0.24)

Dividend

Metric BTGO PWP Capital Markets median
Dividend yield — 2.67% 2.20%
Payout ratio — — 0.00

Size

Metric BTGO PWP Capital Markets median
Market cap 936.84m 1.32b 724.58m

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