Calix, Inc (CALX) vs Marqeta, Inc. (MQ)

Calix, Inc and Marqeta, Inc. are both Software Infrastructure companies. Calix, Inc is the larger, with a market value of $2.3B against $2.0B — 1.2× the size. Calix, Inc trades at the lower P/E: 46.2× against 170×. Calix, Inc grew revenue faster over the last twelve months: 27.8% against 22.4%. Calix, Inc has the higher net margin (4.61% vs 1.53%) and the higher return on invested capital (7.42% vs 0.00%). Across the 22 metrics below, Calix, Inc leads on 14 and Marqeta, Inc. on 8.

Valuation

Metric CALX MQ Software Infrastructure median
P/E 46.20 169.91 28.38
P/S 2.09 2.91 2.98
P/B 3.27 2.75 2.93
Price to free cash flow 27.14 11.79 16.28
EV/EBITDA 27.40 59.79 13.92
EV/Sales 1.95 1.82 2.90
Earnings yield 2.16% 0.59% 0.14%
Free cash flow yield 3.68% 8.48% 1.24%

Profitability

Metric CALX MQ Software Infrastructure median
Gross margin 56.58% 69.99% 61.00%
Operating margin 5.51% (1.91%) 0.00%
Net margin 4.61% 1.53% 0.00%
Free cash flow margin 7.69% 24.69% 1.67%
Return on equity 6.91% 1.33% 0.60%
Return on assets 5.46% 0.80% 0.00%
Return on invested capital 7.42% 0.00% 0.00%

Growth

Metric CALX MQ Software Infrastructure median
Revenue growth (TTM) 27.84% 22.41% 13.41%
EPS growth (last fiscal year) 157.78% (160.00%) 27.10%
Revenue growth, 5-year CAGR 13.06% 16.57% 15.57%
Net income growth, 5-year CAGR (11.79%) 0.00% 0.00%

Health

Metric CALX MQ Software Infrastructure median
Debt to equity 0.00 0.31 0.05
Current ratio 2.83 1.66 1.55
Net debt to EBITDA (10.03) 42.70 0.08

Dividend

Metric CALX MQ Software Infrastructure median
Dividend yield — — 1.20%
Payout ratio — — 0.29

Size

Metric CALX MQ Software Infrastructure median
Market cap 2.34b 1.98b 752.37m

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