i3 Verticals, Inc. (IIIV) vs Corvex, Inc. (MOVE)

i3 Verticals, Inc. and Corvex, Inc. are both Software Infrastructure companies. i3 Verticals, Inc. and Corvex, Inc. are of similar size ($398.3M and $378.0M). Corvex, Inc. has negative trailing earnings, so its P/E is not meaningful; i3 Verticals, Inc. trades at 37.2×. Corvex, Inc. grew revenue faster over the last twelve months: 843.6% against 14.7%. i3 Verticals, Inc. has the higher net margin (3.90% vs −627.8%) and the higher return on invested capital (0.72% vs −3.04%). Across the 16 metrics below, i3 Verticals, Inc. leads on 11 and Corvex, Inc. on 5.

Valuation

Metric IIIV MOVE Software Infrastructure median
P/E 37.20 n/m 28.02
P/S 1.32 6.65 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 n/m 14.91
EV/Sales 1.96 4.03 3.03
Earnings yield 2.69% (160.24%) 0.13%
Free cash flow yield 14.51% (68.90%) 1.15%

Profitability

Metric IIIV MOVE Software Infrastructure median
Gross margin 100.00% 12.09% 61.23%
Operating margin 2.72% (610.33%) 0.00%
Net margin 3.90% (627.82%) 0.00%
Free cash flow margin 19.22% (458.24%) 1.67%
Return on equity 1.87% 2,480.53% 0.59%
Return on assets 1.36% (9.20%) 0.00%
Return on invested capital 0.72% (3.04%) 0.00%

Growth

Metric IIIV MOVE Software Infrastructure median
Revenue growth (TTM) 14.65% 843.62% 13.41%
EPS growth (last fiscal year) (84.91%) 44.70% —
Revenue growth, 5-year CAGR 7.26% — 15.81%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric IIIV MOVE Software Infrastructure median
Debt to equity 0.29 0.01 0.06
Current ratio 1.21 1.80 1.55
Net debt to EBITDA (1.93) (0.12) 0.08

Dividend

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

Size

Metric IIIV MOVE Software Infrastructure median
Market cap 398.25m 378.00m 835.96m

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