DeFi Development Corp. (DFDV) vs PhenixFIN Corporation (PFX)

DeFi Development Corp. and PhenixFIN Corporation are both Asset Management companies. DeFi Development Corp. is the larger, with a market value of $103.4M against $81.5M — 1.3× the size. DeFi Development Corp. has negative trailing earnings, so its P/E is not meaningful; PhenixFIN Corporation trades at 17.4×. DeFi Development Corp. grew revenue faster over the last twelve months: 328.6% against 5.10%. PhenixFIN Corporation has the higher net margin (18.6% vs −1,319.5%) and the higher return on invested capital (3.29% vs −79.9%). Across the 16 metrics below, PhenixFIN Corporation leads on 12 and DeFi Development Corp. on 4.

Valuation

Metric DFDV PFX Asset Management median
P/E n/m 17.44 13.35
P/S 6.07 3.23 3.01
P/B n/m 0.51 0.91
Price to free cash flow n/m n/m 7.27
EV/EBITDA — — —
EV/Sales — — —
Earnings yield (305.67%) 5.73% 4.59%
Free cash flow yield (157.27%) (3.69%) 4.88%

Profitability

Metric DFDV PFX Asset Management median
Gross margin 97.76% 100.00% 100.00%
Operating margin (866.51%) 63.13% 28.39%
Net margin (1,319.46%) 18.55% 11.89%
Free cash flow margin (954.86%) (11.89%) 5.96%
Return on equity (589.29%) 2.97% 4.61%
Return on assets (128.23%) 1.52% 1.45%
Return on invested capital (79.93%) 3.29% 2.27%

Growth

Metric DFDV PFX Asset Management median
Revenue growth (TTM) 328.61% 5.10% 7.26%
EPS growth (last fiscal year) (1,335.75%) (77.44%) (5.64%)
Revenue growth, 5-year CAGR 48.79% 3.26% 11.84%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric DFDV PFX Asset Management median
Debt to equity (10.02) 0.93 0.39
Current ratio 1.27 1.34 1.25
Net debt to EBITDA (3.50) 8.95 1.06

Dividend

Metric DFDV PFX Asset Management median
Dividend yield — 0.00% 6.43%
Payout ratio — 0.00 0.92

Size

Metric DFDV PFX Asset Management median
Market cap 103.41m 81.45m 677.66m

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