JFrog Ltd. (FROG) vs Grab Holdings Limited (GRAB)

JFrog Ltd. and Grab Holdings Limited are both Software Application companies. JFrog Ltd. and Grab Holdings Limited are of similar size ($12.8B and $11.7B). JFrog Ltd. has negative trailing earnings, so its P/E is not meaningful; Grab Holdings Limited trades at 22.4×. JFrog Ltd. grew revenue faster over the last twelve months: 26.4% against 21.4%. Grab Holdings Limited has the higher net margin (16.0% vs −7.35%) and the higher return on invested capital (2.55% vs −31.7%). Across the 18 metrics below, Grab Holdings Limited leads on 12 and JFrog Ltd. on 6.

Valuation

Metric FROG GRAB Software Application median
P/E n/m 22.36 24.79
P/S 18.11 3.43 2.67
P/B 11.31 1.78 3.01
Price to free cash flow 64.13 n/m 16.59
EV/EBITDA n/m 26.21 14.40
EV/Sales 16.73 2.28 2.62
Earnings yield (0.41%) 4.47% 0.00%
Free cash flow yield 1.56% (1.32%) 1.91%

Profitability

Metric FROG GRAB Software Application median
Gross margin 77.86% 43.62% 67.03%
Operating margin (11.52%) 3.22% 0.00%
Net margin (7.35%) 16.01% 0.00%
Free cash flow margin 28.29% (4.53%) 4.32%
Return on equity (4.93%) 8.80% 0.00%
Return on assets (3.27%) 4.86% 0.00%
Return on invested capital (31.70%) 2.55% 0.00%

Growth

Metric FROG GRAB Software Application median
Revenue growth (TTM) 26.37% 21.42% 12.40%
EPS growth (last fiscal year) 1.59% 300.00% —
Revenue growth, 5-year CAGR 28.66% 48.35% 13.72%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric FROG GRAB Software Application median
Debt to equity 0.00 0.28 0.02
Current ratio 2.14 1.52 1.55
Net debt to EBITDA 9.70 (19.63) 0.06

Dividend

Metric FROG GRAB Software Application median
Dividend yield — — 1.25%
Payout ratio 0.00 0.00 0.00

Size

Metric FROG GRAB Software Application median
Market cap 11.70b 12.77b 396.11m

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