Infleqtion, Inc. (INFQ) vs Progress Software Corporation (PRGS)

Infleqtion, Inc. and Progress Software Corporation are both Software Infrastructure companies. Infleqtion, Inc. and Progress Software Corporation are of similar size ($1.9B and $1.8B). Infleqtion, Inc. has negative trailing earnings, so its P/E is not meaningful; Progress Software Corporation trades at 20.2×. Progress Software Corporation has the higher net margin (9.24% vs −338.6%) and the higher return on invested capital (6.69% vs −26.0%). Across the 16 metrics below, Progress Software Corporation leads on 12 and Infleqtion, Inc. on 4.

Valuation

Metric INFQ PRGS Software Infrastructure median
P/E n/m 20.16 26.15
P/S 50.46 1.81 2.87
P/B 3.21 3.42 2.94
Price to free cash flow n/m 5.68 17.26
EV/EBITDA n/m 8.98 15.00
EV/Sales 37.42 2.95 2.95
Earnings yield (20.28%) 4.96% 0.00%
Free cash flow yield (0.56%) 17.60% 0.39%

Profitability

Metric INFQ PRGS Software Infrastructure median
Gross margin 22.45% 82.23% 59.21%
Operating margin (147.92%) 17.66% 0.00%
Net margin (338.57%) 9.24% 0.00%
Free cash flow margin (28.13%) 31.92% 0.00%
Return on equity (43.14%) 18.34% 0.00%
Return on assets (23.38%) 3.91% 0.00%
Return on invested capital (26.00%) 6.69% 0.00%

Growth

Metric INFQ PRGS Software Infrastructure median
Revenue growth (TTM) — 6.36% 13.57%
EPS growth (last fiscal year) (26,711.59%) 7.79% 20.22%
Revenue growth, 5-year CAGR — 17.20% 16.02%
Net income growth, 5-year CAGR — (1.71%) 0.00%

Health

Metric INFQ PRGS Software Infrastructure median
Debt to equity 0.00 2.33 0.02
Current ratio 9.34 0.80 1.54
Net debt to EBITDA 0.09 3.04 0.05

Dividend

Metric INFQ PRGS Software Infrastructure median
Dividend yield — 0.00% 1.09%
Payout ratio — 0.00 0.30

Size

Metric INFQ PRGS Software Infrastructure median
Market cap 1.90b 1.80b 655.75m

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