Infleqtion, Inc. (INFQ) vs Marqeta, Inc. (MQ)

Infleqtion, Inc. and Marqeta, Inc. are both Software Infrastructure companies. Infleqtion, Inc. and Marqeta, Inc. are of similar size ($2.1B and $2.0B). Infleqtion, Inc. has negative trailing earnings, so its P/E is not meaningful; Marqeta, Inc. trades at 170×. Marqeta, Inc. has the higher net margin (1.53% vs −291.8%) and the higher return on invested capital (0.00% vs −26.0%). Across the 16 metrics below, Marqeta, Inc. leads on 13 and Infleqtion, Inc. on 3.

Valuation

Metric INFQ MQ Software Infrastructure median
P/E n/m 169.91 28.38
P/S 51.36 2.91 2.98
P/B 3.27 2.75 2.93
Price to free cash flow n/m 11.79 16.28
EV/EBITDA n/m 59.79 13.92
EV/Sales 38.32 1.82 2.90
Earnings yield (14.43%) 0.59% 0.14%
Free cash flow yield (0.07%) 8.48% 1.24%

Profitability

Metric INFQ MQ Software Infrastructure median
Gross margin 22.45% 69.99% 61.00%
Operating margin (147.92%) (1.91%) 0.00%
Net margin (291.75%) 1.53% 0.00%
Free cash flow margin (3.61%) 24.69% 1.67%
Return on equity (37.17%) 1.33% 0.60%
Return on assets (20.14%) 0.80% 0.00%
Return on invested capital (26.00%) 0.00% 0.00%

Growth

Metric INFQ MQ Software Infrastructure median
Revenue growth (TTM) — 22.41% 13.41%
EPS growth (last fiscal year) (26,711.59%) (160.00%) 27.10%
Revenue growth, 5-year CAGR — 16.57% 15.57%
Net income growth, 5-year CAGR — 0.00% 0.00%

Health

Metric INFQ MQ Software Infrastructure median
Debt to equity 0.00 0.31 0.05
Current ratio 9.34 1.66 1.55
Net debt to EBITDA 0.09 42.70 0.08

Dividend

Metric INFQ MQ Software Infrastructure median
Dividend yield — — 1.20%
Payout ratio — — 0.29

Size

Metric INFQ MQ Software Infrastructure median
Market cap 2.14b 1.98b 752.37m

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