Ibotta, Inc. (IBTA) vs PubMatic, Inc. (PUBM)

Ibotta, Inc. and PubMatic, Inc. are both Software Application companies. Ibotta, Inc. and PubMatic, Inc. are of similar size ($966.0M and $888.2M). PubMatic, Inc. grew revenue faster over the last twelve months: −1.04% against −6.65%. Ibotta, Inc. has the higher net margin (−3.21% vs −4.66%) and the higher return on invested capital (−8.02% vs −9.01%). Across the 17 metrics below, Ibotta, Inc. leads on 10 and PubMatic, Inc. on 7.

Valuation

Metric IBTA PUBM Software Application median
P/E n/m n/m 24.79
P/S 2.79 2.97 2.67
P/B 3.96 3.59 3.01
Price to free cash flow 16.32 15.88 16.59
EV/EBITDA n/m 29.02 14.40
EV/Sales 2.62 2.49 2.62
Earnings yield (1.14%) (1.61%) 0.00%
Free cash flow yield 6.13% 6.30% 1.91%

Profitability

Metric IBTA PUBM Software Application median
Gross margin 78.24% 64.43% 67.03%
Operating margin (3.49%) (5.05%) 0.00%
Net margin (3.21%) (4.66%) 0.00%
Free cash flow margin 17.07% 18.68% 4.32%
Return on equity (3.70%) (5.59%) 0.00%
Return on assets (2.03%) (1.96%) 0.00%
Return on invested capital (8.02%) (9.01%) 0.00%

Growth

Metric IBTA PUBM Software Application median
Revenue growth (TTM) (6.65%) (1.04%) 12.40%
EPS growth (last fiscal year) (95.31%) (234.78%) —
Revenue growth, 5-year CAGR — 13.72% 13.72%
Net income growth, 5-year CAGR — 0.00% 0.00%

Health

Metric IBTA PUBM Software Application median
Debt to equity 0.00 0.00 0.02
Current ratio 1.71 1.27 1.55
Net debt to EBITDA (24.45) (5.66) 0.06

Dividend

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

Size

Metric IBTA PUBM Software Application median
Market cap 965.98m 888.21m 396.11m

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