Criteo S.A. (CRTO) vs Perion Network Ltd (PERI)

Criteo S.A. and Perion Network Ltd are both Advertising Agencies companies. Criteo S.A. is the larger, with a market value of $858.7M against $370.4M — 2.3× the size. Perion Network Ltd has negative trailing earnings, so its P/E is not meaningful; Criteo S.A. trades at 10.9×. Perion Network Ltd grew revenue faster over the last twelve months: 2.86% against −7.49%. Criteo S.A. has the higher net margin (3.99% vs −2.95%) and the higher return on invested capital (6.28% vs −3.19%). Across the 20 metrics below, Criteo S.A. leads on 14 and Perion Network Ltd on 6.

Valuation

Metric CRTO PERI Advertising Agencies median
P/E 10.90 n/m 21.69
P/S 0.41 0.97 0.73
P/B 0.64 0.68 1.02
Price to free cash flow 5.59 11.91 8.36
EV/EBITDA 1.78 144.40 11.66
EV/Sales 0.27 0.40 0.96
Earnings yield 9.17% (2.98%) (2.98%)
Free cash flow yield 17.90% 8.39% 0.00%

Profitability

Metric CRTO PERI Advertising Agencies median
Gross margin 52.48% 88.57% 44.67%
Operating margin 6.57% (4.14%) 0.00%
Net margin 3.99% (2.95%) (2.95%)
Free cash flow margin 7.28% 8.13% 0.00%
Return on equity 6.14% (1.96%) 0.00%
Return on assets 3.53% (1.46%) 0.00%
Return on invested capital 6.28% (3.19%) 0.00%

Growth

Metric CRTO PERI Advertising Agencies median
Revenue growth (TTM) (7.49%) 2.86% 2.99%
EPS growth (last fiscal year) 38.95% (176.00%) 44.63%
Revenue growth, 5-year CAGR (1.26%) 6.04% 5.40%
Net income growth, 5-year CAGR 15.07% 0.00% 0.00%

Health

Metric CRTO PERI Advertising Agencies median
Debt to equity 0.00 0.00 0.04
Current ratio 1.29 2.53 1.72
Net debt to EBITDA (1.07) (137.89) 0.02

Dividend

Metric CRTO PERI Advertising Agencies median
Dividend yield — — 3.66%
Payout ratio — — —

Size

Metric CRTO PERI Advertising Agencies median
Market cap 858.67m 370.39m 60.75m

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