Currenc Group Inc. (CURR) vs Immersion Corporation (IMMR)

Currenc Group Inc. and Immersion Corporation are both Software Application companies. Currenc Group Inc. and Immersion Corporation are of similar size ($221.5M and $208.8M). Currenc Group Inc. has negative trailing earnings, so its P/E is not meaningful; Immersion Corporation trades at 19.3×. Immersion Corporation grew revenue faster over the last twelve months: 4.12% against −18.6%. Immersion Corporation has the higher net margin (0.60% vs −48.7%) and the higher return on invested capital (4.26% vs 0.00%). Across the 19 metrics below, Immersion Corporation leads on 14 and Currenc Group Inc. on 5.

Valuation

Metric CURR IMMR Software Application median
P/E n/m 19.34 26.44
P/S 3.07 0.13 2.90
P/B 6.23 0.40 2.60
Price to free cash flow 15.73 3.67 17.04
EV/EBITDA n/m 1.85 15.48
EV/Sales 1.52 0.08 3.00
Earnings yield (15.87%) 5.17% 0.20%
Free cash flow yield 6.36% 27.24% 1.96%

Profitability

Metric CURR IMMR Software Application median
Gross margin 40.77% 21.54% 67.34%
Operating margin (20.99%) 1.86% 0.00%
Net margin (48.74%) 0.60% 0.00%
Free cash flow margin 19.53% 3.53% 5.77%
Return on equity 159.54% 1.87% 0.00%
Return on assets (16.85%) 0.85% 0.00%
Return on invested capital 0.00% 4.26% 0.00%

Growth

Metric CURR IMMR Software Application median
Revenue growth (TTM) (18.57%) 4.12% 12.12%
EPS growth (last fiscal year) 70.87% (92.63%) 32.44%
Revenue growth, 5-year CAGR — 124.34% 14.34%
Net income growth, 5-year CAGR 0.00% (3.52%) 0.00%

Health

Metric CURR IMMR Software Application median
Debt to equity 0.88 0.22 0.04
Current ratio 1.12 2.14 1.53
Net debt to EBITDA 17.44 (1.60) 0.09

Dividend

Metric CURR IMMR Software Application median
Dividend yield — 4.43% 1.07%
Payout ratio — 0.88 0.28

Size

Metric CURR IMMR Software Application median
Market cap 208.84m 221.49m 383.88m

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