Ibotta, Inc. (IBTA) vs Mitek Systems, Inc. (MITK)

Ibotta, Inc. and Mitek Systems, Inc. are both Software Application companies. Ibotta, Inc. is the larger, with a market value of $966.0M against $815.8M — 1.2× the size. Ibotta, Inc. has negative trailing earnings, so its P/E is not meaningful; Mitek Systems, Inc. trades at 35.2×. Mitek Systems, Inc. grew revenue faster over the last twelve months: 11.1% against −6.65%. Mitek Systems, Inc. has the higher net margin (11.4% vs −3.21%) and the higher return on invested capital (11.0% vs −8.02%). Across the 18 metrics below, Mitek Systems, Inc. leads on 12 and Ibotta, Inc. on 6.

Valuation

Metric IBTA MITK Software Application median
P/E n/m 35.22 24.79
P/S 2.79 4.02 2.67
P/B 3.96 3.18 3.01
Price to free cash flow 16.32 16.36 16.59
EV/EBITDA n/m 13.03 14.40
EV/Sales 2.62 3.77 2.62
Earnings yield (1.14%) 2.84% 0.00%
Free cash flow yield 6.13% 6.11% 1.91%

Profitability

Metric IBTA MITK Software Application median
Gross margin 78.24% 83.61% 67.03%
Operating margin (3.49%) 17.80% 0.00%
Net margin (3.21%) 11.39% 0.00%
Free cash flow margin 17.07% 24.56% 4.32%
Return on equity (3.70%) 9.23% 0.00%
Return on assets (2.03%) 5.53% 0.00%
Return on invested capital (8.02%) 11.00% 0.00%

Growth

Metric IBTA MITK Software Application median
Revenue growth (TTM) (6.65%) 11.10% 12.40%
EPS growth (last fiscal year) (95.31%) 171.43% —
Revenue growth, 5-year CAGR — 12.14% 13.72%
Net income growth, 5-year CAGR — 2.40% 0.00%

Health

Metric IBTA MITK Software Application median
Debt to equity 0.00 0.20 0.02
Current ratio 1.71 2.74 1.55
Net debt to EBITDA (24.45) (4.63) 0.06

Dividend

Metric IBTA MITK Software Application median
Dividend yield — — 1.25%
Payout ratio — 0.00 0.00

Size

Metric IBTA MITK Software Application median
Market cap 965.98m 815.81m 396.11m

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