GitLab Inc. (GTLB) vs UiPath, Inc. (PATH)

GitLab Inc. and UiPath, Inc. are both Software Infrastructure companies. GitLab Inc. is the larger, with a market value of $8.1B against $6.6B — 1.2× the size. GitLab Inc. has negative trailing earnings, so its P/E is not meaningful; UiPath, Inc. trades at 18.6×. GitLab Inc. grew revenue faster over the last twelve months: 23.0% against 15.0%. UiPath, Inc. has the higher net margin (21.0% vs −4.99%) and the higher return on invested capital (14.4% vs 0.00%). Across the 18 metrics below, UiPath, Inc. leads on 14 and GitLab Inc. on 4.

Valuation

Metric GTLB PATH Software Infrastructure median
P/E n/m 18.60 28.02
P/S 7.49 3.76 3.07
P/B 8.14 3.32 3.36
Price to free cash flow 36.99 17.84 17.12
EV/EBITDA n/m 17.76 14.91
EV/Sales 6.30 3.02 3.03
Earnings yield (0.68%) 5.38% 0.13%
Free cash flow yield 2.70% 5.61% 1.15%

Profitability

Metric GTLB PATH Software Infrastructure median
Gross margin 85.75% 82.55% 61.23%
Operating margin (8.55%) 8.89% 0.00%
Net margin (4.99%) 21.03% 0.00%
Free cash flow margin 20.25% 21.09% 1.67%
Return on equity (5.60%) 20.03% 0.59%
Return on assets (3.33%) 13.16% 0.00%
Return on invested capital 0.00% 14.42% 0.00%

Growth

Metric GTLB PATH Software Infrastructure median
Revenue growth (TTM) 22.99% 14.98% 13.41%
EPS growth (last fiscal year) (1,600.00%) 500.00% —
Revenue growth, 5-year CAGR 44.39% 21.53% 15.81%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric GTLB PATH Software Infrastructure median
Debt to equity 0.00 0.00 0.06
Current ratio 2.41 2.39 1.55
Net debt to EBITDA 101.14 (8.52) 0.08

Dividend

Metric GTLB PATH Software Infrastructure median
Dividend yield — — 1.53%
Payout ratio 0.00 0.00 0.00

Size

Metric GTLB PATH Software Infrastructure median
Market cap 8.07b 6.57b 835.96m

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