Fastly, Inc. (FSLY) vs NCR Atleos Corporation (NATL)

Fastly, Inc. and NCR Atleos Corporation are both Software Application companies. Fastly, Inc. and NCR Atleos Corporation are of similar size ($3.5B and $3.4B). Fastly, Inc. has negative trailing earnings, so its P/E is not meaningful; NCR Atleos Corporation trades at 13.0×. Fastly, Inc. grew revenue faster over the last twelve months: 21.5% against 2.16%. NCR Atleos Corporation has the higher net margin (6.07% vs −8.74%) and the higher return on invested capital (13.4% vs −4.20%). Across the 19 metrics below, NCR Atleos Corporation leads on 12 and Fastly, Inc. on 7.

Valuation

Metric FSLY NATL Software Application median
P/E n/m 12.97 25.90
P/S 3.43 0.79 3.04
P/B 2.46 6.17 2.60
Price to free cash flow 56.75 11.03 17.17
EV/EBITDA 3,264.54 7.16 15.48
EV/Sales 3.42 1.28 2.89
Earnings yield (2.60%) 7.71% 0.00%
Free cash flow yield 1.76% 9.07% 1.98%

Profitability

Metric FSLY NATL Software Application median
Gross margin 62.64% 25.74% 66.89%
Operating margin (9.00%) 13.17% 0.00%
Net margin (8.74%) 6.07% 0.00%
Free cash flow margin 18.16% 7.03% 5.77%
Return on equity (6.48%) 59.73% 0.00%
Return on assets (4.17%) 4.79% 0.00%
Return on invested capital (4.20%) 13.37% 0.00%

Growth

Metric FSLY NATL Software Application median
Revenue growth (TTM) 21.48% 2.16% 12.27%
EPS growth (last fiscal year) 27.19% 98.15% 32.11%
Revenue growth, 5-year CAGR 16.49% — 14.34%
Net income growth, 5-year CAGR 0.00% — 0.00%

Health

Metric FSLY NATL Software Application median
Debt to equity 0.32 4.36 0.02
Current ratio 3.07 0.90 1.53
Net debt to EBITDA 0.00 2.70 0.09

Dividend

Metric FSLY NATL Software Application median
Dividend yield — — 1.10%
Payout ratio — — 0.28

Size

Metric FSLY NATL Software Application median
Market cap 3.35b 3.50b 487.58m

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