ForgeRock, Inc. (FORG) vs Infleqtion, Inc. (INFQ)

ForgeRock, Inc. and Infleqtion, Inc. are both Software Infrastructure companies. ForgeRock, Inc. and Infleqtion, Inc. are of similar size ($2.1B and $2.0B). ForgeRock, Inc. has the higher net margin (−33.6% vs −291.8%) and the lower return on invested capital (−761.8% vs −26.0%). Across the 16 metrics below, ForgeRock, Inc. leads on 9 and Infleqtion, Inc. on 7.

Valuation

Metric FORG INFQ Software Infrastructure median
P/E n/m n/m 28.38
P/S 8.47 51.36 2.98
P/B 7.13 3.27 2.93
Price to free cash flow n/m n/m 16.28
EV/EBITDA n/m n/m 13.92
EV/Sales 7.31 38.32 2.90
Earnings yield (4.01%) (14.43%) 0.14%
Free cash flow yield (1.96%) (0.07%) 1.24%

Profitability

Metric FORG INFQ Software Infrastructure median
Gross margin 80.91% 22.45% 61.00%
Operating margin (34.48%) (147.92%) 0.00%
Net margin (33.58%) (291.75%) 0.00%
Free cash flow margin (16.63%) (3.61%) 1.67%
Return on equity (27.00%) (37.17%) 0.60%
Return on assets (17.76%) (20.14%) 0.00%
Return on invested capital (761.80%) (26.00%) 0.00%

Growth

Metric FORG INFQ Software Infrastructure median
Revenue growth (TTM) 29.41% — 13.41%
EPS growth (last fiscal year) 31.58% (26,711.59%) 27.10%
Revenue growth, 5-year CAGR — — 15.57%
Net income growth, 5-year CAGR — — 0.00%

Health

Metric FORG INFQ Software Infrastructure median
Debt to equity 0.14 0.00 0.05
Current ratio 3.61 9.34 1.55
Net debt to EBITDA 6.04 0.09 0.08

Dividend

Metric FORG INFQ Software Infrastructure median
Dividend yield — — 1.20%
Payout ratio — — 0.29

Size

Metric FORG INFQ Software Infrastructure median
Market cap 1.95b 2.14b 752.37m

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