ContextLogic Inc. (LOGC) vs ATRenew Inc. Sponsored ADR (RERE)

ContextLogic Inc. and ATRenew Inc. Sponsored ADR are both Internet Retail companies. ATRenew Inc. Sponsored ADR is the larger, with a market value of $517.7M against $194.0M — 2.7× the size. ContextLogic Inc. has negative trailing earnings, so its P/E is not meaningful; ATRenew Inc. Sponsored ADR trades at 13.6×. ATRenew Inc. Sponsored ADR grew revenue faster over the last twelve months: 38.8% against −15.3%. ATRenew Inc. Sponsored ADR has the higher net margin (2.00% vs −19.6%) and the higher return on invested capital (14.8% vs −0.36%). Across the 18 metrics below, ATRenew Inc. Sponsored ADR leads on 16 and ContextLogic Inc. on 2.

Valuation

Metric LOGC RERE Internet Retail median
P/E n/m 13.59 22.73
P/S 5.11 0.27 0.64
P/B 0.92 1.67 1.65
Price to free cash flow n/m 6.65 14.11
EV/EBITDA n/m 7.94 15.68
EV/Sales 6.63 0.21 0.76
Earnings yield (2.43%) 7.36% (0.11%)
Free cash flow yield (56.67%) 15.03% 0.00%

Profitability

Metric LOGC RERE Internet Retail median
Gross margin 37.09% 20.74% 43.51%
Operating margin (54.13%) 2.70% 0.08%
Net margin (19.61%) 2.00% 0.56%
Free cash flow margin (289.40%) 0.00% 0.00%
Return on equity (5.90%) 0.00% 0.00%
Return on assets (4.36%) 8.54% 0.00%
Return on invested capital (0.36%) 14.79% 0.00%

Growth

Metric LOGC RERE Internet Retail median
Revenue growth (TTM) (15.32%) 38.80% 10.60%
EPS growth (last fiscal year) 62.67% 4,355.32% —
Revenue growth, 5-year CAGR (53.13%) 33.72% 10.81%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric LOGC RERE Internet Retail median
Debt to equity 0.29 0.11 0.13
Current ratio 1.87 2.36 1.49
Net debt to EBITDA 5.89 (2.59) (0.25)

Dividend

Metric LOGC RERE Internet Retail median
Dividend yield — — —
Payout ratio 0.00 0.00 0.00

Size

Metric LOGC RERE Internet Retail median
Market cap 193.98m 517.66m 443.85m

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