Galaxy Digital Inc. (GLXY) vs XP Inc. (XP)

Galaxy Digital Inc. and XP Inc. are both Capital Markets companies. Galaxy Digital Inc. and XP Inc. are of similar size ($10.6B and $9.9B). Galaxy Digital Inc. has negative trailing earnings, so its P/E is not meaningful; XP Inc. trades at 10.6×. XP Inc. grew revenue faster over the last twelve months: 18.2% against 3.68%. XP Inc. has the higher net margin (27.8% vs −0.34%) and the higher return on invested capital (20.5% vs −7.30%). Across the 17 metrics below, XP Inc. leads on 14 and Galaxy Digital Inc. on 3.

Valuation

Metric GLXY XP Capital Markets median
P/E n/m 10.63 15.78
P/S 0.08 2.91 2.32
P/B 1.72 2.14 1.89
Price to free cash flow n/m 4.47 6.25
EV/EBITDA n/m 7.28 8.87
EV/Sales 0.09 2.58 2.28
Earnings yield (2.62%) 9.41% (3.77%)
Free cash flow yield (40.35%) 22.36% (1.49%)

Profitability

Metric GLXY XP Capital Markets median
Gross margin 0.40% 100.00% 62.80%
Operating margin (0.53%) 33.63% 0.00%
Net margin (0.34%) 27.84% (0.55%)
Free cash flow margin (3.29%) 65.15% 0.00%
Return on equity (7.22%) 22.76% 0.00%
Return on assets (1.94%) 1.37% 0.00%
Return on invested capital (7.30%) 20.52% 0.00%

Growth

Metric GLXY XP Capital Markets median
Revenue growth (TTM) 3.68% 18.17% 21.02%
EPS growth (last fiscal year) (162.76%) 13.73% —
Revenue growth, 5-year CAGR — 15.82% 18.16%
Net income growth, 5-year CAGR — 18.11% 0.00%

Health

Metric GLXY XP Capital Markets median
Debt to equity 1.14 0.07 0.08
Current ratio 1.50 4.80 1.51
Net debt to EBITDA 3.17 (1.52) (0.24)

Dividend

Metric GLXY XP Capital Markets median
Dividend yield — 3.47% 2.20%
Payout ratio — 0.00 0.00

Size

Metric GLXY XP Capital Markets median
Market cap 9.90b 10.61b 724.58m

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