Dave Inc. (DAVE) vs Navan, Inc. (NAVN)

Dave Inc. and Navan, Inc. are both Software Application companies. Navan, Inc. is the larger, with a market value of $5.1B against $4.2B — 1.2× the size. Navan, Inc. has negative trailing earnings, so its P/E is not meaningful; Dave Inc. trades at 19.6×. Dave Inc. has the higher net margin (34.6% vs −42.1%) and the higher return on invested capital (62.1% vs −25.3%). Across the 17 metrics below, Dave Inc. leads on 12 and Navan, Inc. on 5.

Valuation

Metric DAVE NAVN Software Application median
P/E 19.61 n/m 24.79
P/S 6.42 6.03 2.67
P/B 19.88 3.78 3.01
Price to free cash flow 12.95 175.78 16.59
EV/EBITDA 18.05 n/m 14.40
EV/Sales 6.44 5.07 2.62
Earnings yield 5.10% (26.06%) 0.00%
Free cash flow yield 7.72% 0.57% 1.91%

Profitability

Metric DAVE NAVN Software Application median
Gross margin 100.00% 72.55% 67.03%
Operating margin 34.52% (25.72%) 0.00%
Net margin 34.59% (42.11%) 0.00%
Free cash flow margin 49.59% 3.43% 4.32%
Return on equity 104.78% (540.18%) 0.00%
Return on assets 47.66% (38.41%) 0.00%
Return on invested capital 62.13% (25.34%) 0.00%

Growth

Metric DAVE NAVN Software Application median
Revenue growth (TTM) 48.63% — 12.40%
EPS growth (last fiscal year) 222.91% (1.76%) —
Revenue growth, 5-year CAGR — — 13.72%
Net income growth, 5-year CAGR 0.00% — 0.00%

Health

Metric DAVE NAVN Software Application median
Debt to equity 1.29 0.09 0.02
Current ratio 4.22 4.38 1.55
Net debt to EBITDA (0.24) 5.39 0.06

Dividend

Metric DAVE NAVN Software Application median
Dividend yield — — 1.25%
Payout ratio 0.00 — 0.00

Size

Metric DAVE NAVN Software Application median
Market cap 4.23b 5.11b 396.11m

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