Grid Dynamics Holdings, Inc. (GDYN) vs N-able, Inc. (NABL)

Grid Dynamics Holdings, Inc. and N-able, Inc. are both Information Technology Services companies. N-able, Inc. is the larger, with a market value of $759.4M against $608.5M — 1.2× the size. N-able, Inc. has negative trailing earnings, so its P/E is not meaningful; Grid Dynamics Holdings, Inc. trades at 283×. N-able, Inc. grew revenue faster over the last twelve months: 10.6% against 8.57%. Grid Dynamics Holdings, Inc. has the higher net margin (0.68% vs −1.10%) and the lower return on invested capital (−0.60% vs 2.99%). Across the 20 metrics below, Grid Dynamics Holdings, Inc. leads on 10 and N-able, Inc. on 10.

Valuation

Metric GDYN NABL Information Technology Services median
P/E 282.85 n/m 14.63
P/S 1.51 1.42 1.13
P/B 1.23 0.94 2.10
Price to free cash flow 39.85 12.53 10.11
EV/EBITDA 14.59 10.40 8.56
EV/Sales 0.82 1.94 1.20
Earnings yield 0.35% (0.65%) 4.56%
Free cash flow yield 2.51% 7.98% 4.37%

Profitability

Metric GDYN NABL Information Technology Services median
Gross margin 34.72% 76.56% 31.05%
Operating margin (0.51%) 9.71% 3.30%
Net margin 0.68% (1.10%) 2.09%
Free cash flow margin 3.79% 11.31% 0.00%
Return on equity 0.54% (0.73%) 4.12%
Return on assets 0.47% (0.42%) 0.61%
Return on invested capital (0.60%) 2.99% 0.57%

Growth

Metric GDYN NABL Information Technology Services median
Revenue growth (TTM) 8.57% 10.59% 7.12%
EPS growth (last fiscal year) 120.00% (156.25%) —
Revenue growth, 5-year CAGR 14.28% 10.93% 7.71%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric GDYN NABL Information Technology Services median
Debt to equity 0.00 0.49 0.45
Current ratio 7.22 1.30 1.66
Net debt to EBITDA (14.93) 3.48 0.44

Dividend

Metric GDYN NABL Information Technology Services median
Dividend yield — — 1.21%
Payout ratio 0.00 0.00 0.00

Size

Metric GDYN NABL Information Technology Services median
Market cap 608.45m 759.40m 1.36b

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