DLocal Limited (DLO) vs Tenable Holdings, Inc. (TENB)

DLocal Limited and Tenable Holdings, Inc. are both Software Infrastructure companies. DLocal Limited and Tenable Holdings, Inc. are of similar size ($4.0B and $3.9B). DLocal Limited trades at the lower P/E: 20.1× against 631×. DLocal Limited grew revenue faster over the last twelve months: 57.0% against 9.93%. DLocal Limited has the higher net margin (15.0% vs 0.65%) and the lower return on invested capital (0.00% vs 9.16%). Across the 22 metrics below, DLocal Limited leads on 20 and Tenable Holdings, Inc. on 2.

Valuation

Metric DLO TENB Software Infrastructure median
P/E 20.11 631.07 28.02
P/S 2.99 3.56 3.07
P/B 7.50 18.70 3.36
Price to free cash flow 10.44 14.59 17.12
EV/EBITDA 12.19 47.99 14.91
EV/Sales 2.39 3.61 3.03
Earnings yield 4.97% 0.16% 0.13%
Free cash flow yield 9.58% 6.85% 1.15%

Profitability

Metric DLO TENB Software Infrastructure median
Gross margin 34.28% 78.05% 61.23%
Operating margin 17.35% 3.56% 0.00%
Net margin 15.04% 0.65% 0.00%
Free cash flow margin 28.65% 24.37% 1.67%
Return on equity 41.26% 2.46% 0.59%
Return on assets 11.95% 0.42% 0.00%
Return on invested capital 0.00% 9.16% 0.00%

Growth

Metric DLO TENB Software Infrastructure median
Revenue growth (TTM) 57.03% 9.93% 13.41%
EPS growth (last fiscal year) 66.67% 3.23% —
Revenue growth, 5-year CAGR 60.05% 17.82% 15.81%
Net income growth, 5-year CAGR 47.50% 0.00% 0.00%

Health

Metric DLO TENB Software Infrastructure median
Debt to equity 0.00 1.78 0.06
Current ratio 1.25 0.79 1.55
Net debt to EBITDA (3.32) (1.54) 0.08

Dividend

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

Size

Metric DLO TENB Software Infrastructure median
Market cap 3.91b 3.95b 835.96m

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