LAIX Inc. Sponsored ADR (LAIX) vs Perfect Corp. (PERF)

LAIX Inc. Sponsored ADR and Perfect Corp. are both Software Application companies. Perfect Corp. is the larger, with a market value of $195.6M against $154.7M — 1.3× the size. LAIX Inc. Sponsored ADR has negative trailing earnings, so its P/E is not meaningful; Perfect Corp. trades at 37.5×. Perfect Corp. grew revenue faster over the last twelve months: 10.4% against −1.84%. Perfect Corp. has the higher net margin (8.13% vs −11.4%) and the higher return on invested capital (0.00% vs 0.00%). Across the 17 metrics below, Perfect Corp. leads on 9 and LAIX Inc. Sponsored ADR on 8.

Valuation

Metric LAIX PERF Software Application median
P/E n/m 37.55 24.79
P/S 0.08 2.63 2.67
P/B n/m 1.19 3.01
Price to free cash flow n/m 18.40 16.59
EV/EBITDA 0.55 11.11 14.40
EV/Sales (0.07) 0.35 2.62
Earnings yield (142.19%) 2.66% 0.00%
Free cash flow yield 0.00% 5.44% 1.91%

Profitability

Metric LAIX PERF Software Application median
Gross margin 75.96% 79.73% 67.03%
Operating margin (12.65%) 1.78% 0.00%
Net margin (11.38%) 8.13% 0.00%
Free cash flow margin 0.00% 14.32% 4.32%
Return on equity 16.46% 3.76% 0.00%
Return on assets (21.92%) 3.00% 0.00%
Return on invested capital 0.00% 0.00% 0.00%

Growth

Metric LAIX PERF Software Application median
Revenue growth (TTM) (1.84%) 10.41% 12.40%
EPS growth (last fiscal year) 115.32% 0.00% —
Revenue growth, 5-year CAGR 125.18% 11.15% 13.72%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric LAIX PERF Software Application median
Debt to equity 0.00 0.00 0.02
Current ratio 0.20 4.63 1.55
Net debt to EBITDA (0.87) 227.58 0.06

Dividend

Metric LAIX PERF Software Application median
Dividend yield — — 1.25%
Payout ratio 0.00 0.00 0.00

Size

Metric LAIX PERF Software Application median
Market cap 154.68m 195.55m 396.11m

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