DLocal Limited (DLO) vs Remitly Global, Inc. (RELY)

DLocal Limited and Remitly Global, Inc. are both Software Infrastructure companies. Remitly Global, Inc. is the larger, with a market value of $4.5B against $3.9B — 1.2× the size. Remitly Global, Inc. trades at the lower P/E: 14.8× against 20.1×. DLocal Limited grew revenue faster over the last twelve months: 57.0% against 23.8%. Remitly Global, Inc. has the higher net margin (16.9% vs 15.0%) and the higher return on invested capital (23.6% vs 0.00%). Across the 22 metrics below, Remitly Global, Inc. leads on 12 and DLocal Limited on 10.

Valuation

Metric DLO RELY Software Infrastructure median
P/E 20.11 14.79 28.02
P/S 2.99 2.50 3.07
P/B 7.50 4.01 3.36
Price to free cash flow 10.44 12.05 17.12
EV/EBITDA 12.19 18.52 14.91
EV/Sales 2.39 2.21 3.03
Earnings yield 4.97% 6.76% 0.13%
Free cash flow yield 9.58% 8.30% 1.15%

Profitability

Metric DLO RELY Software Infrastructure median
Gross margin 34.28% 61.46% 61.23%
Operating margin 17.35% 9.45% 0.00%
Net margin 15.04% 16.85% 0.00%
Free cash flow margin 28.65% 20.73% 1.67%
Return on equity 41.26% 32.25% 0.59%
Return on assets 11.95% 22.32% 0.00%
Return on invested capital 0.00% 23.57% 0.00%

Growth

Metric DLO RELY Software Infrastructure median
Revenue growth (TTM) 57.03% 23.79% 13.41%
EPS growth (last fiscal year) 66.67% 263.16% —
Revenue growth, 5-year CAGR 60.05% 44.79% 15.81%
Net income growth, 5-year CAGR 47.50% 0.00% 0.00%

Health

Metric DLO RELY Software Infrastructure median
Debt to equity 0.00 0.00 0.06
Current ratio 1.25 3.18 1.55
Net debt to EBITDA (3.32) (3.10) 0.08

Dividend

Metric DLO RELY Software Infrastructure median
Dividend yield — — 1.53%
Payout ratio 0.00 0.00 0.00

Size

Metric DLO RELY Software Infrastructure median
Market cap 3.91b 4.50b 835.96m

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