Infleqtion, Inc. (INFQ) vs Tenable Holdings, Inc. (TENB)

Infleqtion, Inc. and Tenable Holdings, Inc. are both Software Infrastructure companies. Tenable Holdings, Inc. is the larger, with a market value of $4.0B against $3.2B — 1.2× the size. Infleqtion, Inc. has negative trailing earnings, so its P/E is not meaningful; Tenable Holdings, Inc. trades at 631×. Tenable Holdings, Inc. has the higher net margin (0.65% vs −291.8%) and the higher return on invested capital (9.16% vs −26.0%). Across the 16 metrics below, Tenable Holdings, Inc. leads on 13 and Infleqtion, Inc. on 3.

Valuation

Metric INFQ TENB Software Infrastructure median
P/E n/m 631.07 28.02
P/S 87.65 3.56 3.07
P/B 5.58 18.70 3.36
Price to free cash flow n/m 14.59 17.12
EV/EBITDA n/m 47.99 14.91
EV/Sales 74.61 3.61 3.03
Earnings yield (8.45%) 0.16% 0.13%
Free cash flow yield (0.04%) 6.85% 1.15%

Profitability

Metric INFQ TENB Software Infrastructure median
Gross margin 22.45% 78.05% 61.23%
Operating margin (147.92%) 3.56% 0.00%
Net margin (291.75%) 0.65% 0.00%
Free cash flow margin (3.61%) 24.37% 1.67%
Return on equity (37.17%) 2.46% 0.59%
Return on assets (20.14%) 0.42% 0.00%
Return on invested capital (26.00%) 9.16% 0.00%

Growth

Metric INFQ TENB Software Infrastructure median
Revenue growth (TTM) — 9.93% 13.41%
EPS growth (last fiscal year) (26,711.59%) 3.23% —
Revenue growth, 5-year CAGR — 17.82% 15.81%
Net income growth, 5-year CAGR — 0.00% 0.00%

Health

Metric INFQ TENB Software Infrastructure median
Debt to equity 0.00 1.78 0.06
Current ratio 9.34 0.79 1.55
Net debt to EBITDA 0.09 (1.54) 0.08

Dividend

Metric INFQ TENB Software Infrastructure median
Dividend yield — — 1.53%
Payout ratio — 0.00 0.00

Size

Metric INFQ TENB Software Infrastructure median
Market cap 3.24b 3.95b 835.96m

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