Docebo Inc. (DCBO) vs VTEX (VTEX)

Docebo Inc. and VTEX are both Software Application companies. Docebo Inc. is the larger, with a market value of $758.5M against $677.8M — 1.1× the size. VTEX trades at the lower P/E: 23.2× against 24.7×. Docebo Inc. grew revenue faster over the last twelve months: 12.3% against 9.63%. Docebo Inc. has the higher net margin (13.0% vs 12.0%) and the lower return on invested capital (25.2% vs 44.9%). Across the 20 metrics below, VTEX leads on 12 and Docebo Inc. on 8.

Valuation

Metric DCBO VTEX Software Application median
P/E 24.67 23.18 26.44
P/S 2.84 2.61 2.90
P/B n/m 2.95 2.60
Price to free cash flow 20.97 15.09 17.04
EV/EBITDA 32.34 13.95 15.48
EV/Sales 3.02 1.90 3.00
Earnings yield 4.05% 4.31% 0.20%
Free cash flow yield 4.77% 6.63% 1.96%

Profitability

Metric DCBO VTEX Software Application median
Gross margin 79.40% 79.26% 67.34%
Operating margin 7.14% 12.23% 0.00%
Net margin 12.98% 11.98% 0.00%
Free cash flow margin 13.53% 17.32% 5.77%
Return on equity 195.48% 12.76% 0.00%
Return on assets 16.23% 8.57% 0.00%
Return on invested capital 25.21% 44.94% 0.00%

Growth

Metric DCBO VTEX Software Application median
Revenue growth (TTM) 12.33% 9.63% 12.12%
EPS growth (last fiscal year) 48.84% 33.82% 32.44%
Revenue growth, 5-year CAGR 31.00% 19.51% 14.34%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric DCBO VTEX Software Application median
Debt to equity (300.09) 0.02 0.04
Current ratio 0.83 2.91 1.53
Net debt to EBITDA (2.73) (8.93) 0.09

Dividend

Metric DCBO VTEX Software Application median
Dividend yield — — 1.07%
Payout ratio — — 0.28

Size

Metric DCBO VTEX Software Application median
Market cap 758.48m 677.75m 383.88m

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