Cypherpunk Technologies Inc. (CYPH) vs Runway Growth Finance Corp. (RWAY)

Cypherpunk Technologies Inc. and Runway Growth Finance Corp. are both Asset Management companies. Cypherpunk Technologies Inc. and Runway Growth Finance Corp. are of similar size ($266.2M and $256.5M). Cypherpunk Technologies Inc. has negative trailing earnings, so its P/E is not meaningful; Runway Growth Finance Corp. trades at 41.1×. Cypherpunk Technologies Inc. grew revenue faster over the last twelve months: 0.00% against −2.83%. Runway Growth Finance Corp. has the higher net margin (7.62% vs 0.00%) and the higher return on invested capital (7.17% vs −8.44%). Across the 16 metrics below, Runway Growth Finance Corp. leads on 9 and Cypherpunk Technologies Inc. on 7.

Valuation

Metric CYPH RWAY Asset Management median
P/E n/m 41.13 13.38
P/S 303.53 1.89 2.99
P/B 3.27 0.52 0.91
Price to free cash flow n/m n/m 7.79
EV/EBITDA n/m — —
EV/Sales 364.80 — —
Earnings yield (1.62%) 2.43% 4.67%
Free cash flow yield (4.62%) (6.79%) 4.85%

Profitability

Metric CYPH RWAY Asset Management median
Gross margin 0.00% 100.00% 100.00%
Operating margin 0.00% 75.20% 27.27%
Net margin 0.00% 7.62% 11.89%
Free cash flow margin 0.00% (12.79%) 5.96%
Return on equity (1.21%) 2.12% 4.57%
Return on assets (1.08%) 1.02% 1.40%
Return on invested capital (8.44%) 7.17% 2.12%

Growth

Metric CYPH RWAY Asset Management median
Revenue growth (TTM) 0.00% (2.83%) 7.26%
EPS growth (last fiscal year) 103.87% (50.79%) (5.64%)
Revenue growth, 5-year CAGR — 18.97% 11.84%
Net income growth, 5-year CAGR 0.00% (6.24%) 0.00%

Health

Metric CYPH RWAY Asset Management median
Debt to equity 0.00 0.00 0.40
Current ratio 79.19 0.00 1.23
Net debt to EBITDA 0.34 4.42 1.06

Dividend

Metric CYPH RWAY Asset Management median
Dividend yield — 21.39% 6.43%
Payout ratio — 8.80 0.91

Size

Metric CYPH RWAY Asset Management median
Market cap 266.17m 256.49m 692.54m

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