i3 Verticals, Inc. (IIIV) vs Katapult Holdings, Inc. (KPLT)

i3 Verticals, Inc. and Katapult Holdings, Inc. are both Software Infrastructure companies. Katapult Holdings, Inc. is the larger, with a market value of $489.6M against $398.3M — 1.2× the size. Katapult Holdings, Inc. trades at the lower P/E: 3.6× against 37.2×. i3 Verticals, Inc. grew revenue faster over the last twelve months: 14.7% against 13.0%. i3 Verticals, Inc. has the higher net margin (3.90% vs 1.86%) and the lower return on invested capital (0.72% vs 17.2%). Across the 19 metrics below, i3 Verticals, Inc. leads on 10 and Katapult Holdings, Inc. on 9.

Valuation

Metric IIIV KPLT Software Infrastructure median
P/E 37.20 3.65 28.02
P/S 1.32 0.09 3.07
P/B 0.72 n/m 3.36
Price to free cash flow 6.89 n/m 17.12
EV/EBITDA 11.93 0.98 14.91
EV/Sales 1.96 0.57 3.03
Earnings yield 2.69% 27.40% 0.13%
Free cash flow yield 14.51% (14.13%) 1.15%

Profitability

Metric IIIV KPLT Software Infrastructure median
Gross margin 100.00% 18.49% 61.23%
Operating margin 2.72% 1.27% 0.00%
Net margin 3.90% 1.86% 0.00%
Free cash flow margin 19.22% (1.29%) 1.67%
Return on equity 1.87% (12.44%) 0.59%
Return on assets 1.36% 5.82% 0.00%
Return on invested capital 0.72% 17.21% 0.00%

Growth

Metric IIIV KPLT Software Infrastructure median
Revenue growth (TTM) 14.65% 12.96% 13.41%
EPS growth (last fiscal year) (84.91%) 98.15% —
Revenue growth, 5-year CAGR 7.26% 3.37% 15.81%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric IIIV KPLT Software Infrastructure median
Debt to equity 0.29 (2.06) 0.06
Current ratio 1.21 0.90 1.55
Net debt to EBITDA (1.93) 0.33 0.08

Dividend

Metric IIIV KPLT Software Infrastructure median
Dividend yield — — 1.53%
Payout ratio 0.00 0.00 0.00

Size

Metric IIIV KPLT Software Infrastructure median
Market cap 398.25m 489.58m 835.96m

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