Dropbox, Inc. (DBX) vs PayPay Corporation (PAYP)

Dropbox, Inc. and PayPay Corporation are both Software Infrastructure companies. PayPay Corporation is the larger, with a market value of $10.2B against $8.2B — 1.2× the size. Across the 6 metrics below, Dropbox, Inc. leads on 4 and PayPay Corporation on 2.

Valuation

Metric DBX PAYP Software Infrastructure median
P/E 20.73 — 25.33
P/S 3.35 n/m 3.11
P/B n/m 3.58 2.91
Price to free cash flow 8.89 n/m 18.80
EV/EBITDA 12.48 n/m 14.46
EV/Sales 4.28 n/m 3.01
Earnings yield 4.82% — 0.00%
Free cash flow yield 11.25% 0.00% 0.27%

Profitability

Metric DBX PAYP Software Infrastructure median
Gross margin 79.72% — 59.21%
Operating margin 26.64% — 0.00%
Net margin 17.49% — 0.00%
Free cash flow margin 37.68% — 0.00%
Return on equity (25.35%) — 0.00%
Return on assets 15.80% — 0.00%
Return on invested capital 271.80% 0.00% 0.00%

Growth

Metric DBX PAYP Software Infrastructure median
Revenue growth (TTM) (0.05%) — 12.44%
EPS growth (last fiscal year) 32.86% 156.84% 20.22%
Revenue growth, 5-year CAGR 5.66% — 15.74%
Net income growth, 5-year CAGR 0.00% — 0.00%

Health

Metric DBX PAYP Software Infrastructure median
Debt to equity (1.58) 1.68 0.04
Current ratio 1.07 1.04 1.53
Net debt to EBITDA 2.26 (14.54) 0.06

Dividend

Metric DBX PAYP Software Infrastructure median
Dividend yield — — 1.06%
Payout ratio — — 0.29

Size

Metric DBX PAYP Software Infrastructure median
Market cap 8.15b 10.17b 644.05m

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