Logitech International S.A. (LOGI) vs D-Wave Quantum Inc. (QBTS)

Logitech International S.A. and D-Wave Quantum Inc. are both Computer Hardware companies. Logitech International S.A. is the larger, with a market value of $14.3B against $6.7B — 2.1× the size. D-Wave Quantum Inc. has negative trailing earnings, so its P/E is not meaningful; Logitech International S.A. trades at 18.4×. Logitech International S.A. grew revenue faster over the last twelve months: 6.63% against −44.2%. Logitech International S.A. has the higher net margin (16.3% vs −2,001.6%) and the higher return on invested capital (90.5% vs −18.6%). Across the 19 metrics below, Logitech International S.A. leads on 14 and D-Wave Quantum Inc. on 5.

Valuation

Metric LOGI QBTS Computer Hardware median
P/E 18.38 n/m 20.64
P/S 2.95 519.62 2.95
P/B 6.17 5.96 2.78
Price to free cash flow 14.27 n/m 25.64
EV/EBITDA 13.45 n/m 20.51
EV/Sales 2.59 478.48 3.48
Earnings yield 5.44% (4.08%) (4.08%)
Free cash flow yield 7.01% (1.86%) (2.90%)

Profitability

Metric LOGI QBTS Computer Hardware median
Gross margin 45.13% 64.19% 37.84%
Operating margin 17.72% (1,372.88%) (0.80%)
Net margin 16.28% (2,001.59%) (14.15%)
Free cash flow margin 20.67% (963.82%) 0.00%
Return on equity 35.29% (27.98%) (2.10%)
Return on assets 20.60% (24.84%) (0.42%)
Return on invested capital 90.49% (18.64%) 0.00%

Growth

Metric LOGI QBTS Computer Hardware median
Revenue growth (TTM) 6.63% (44.22%) 27.21%
EPS growth (last fiscal year) 16.22% (48.00%) —
Revenue growth, 5-year CAGR (1.62%) 36.65% 0.81%
Net income growth, 5-year CAGR (5.57%) 0.00% 0.00%

Health

Metric LOGI QBTS Computer Hardware median
Debt to equity 0.00 0.03 0.00
Current ratio 2.31 20.55 2.76
Net debt to EBITDA (2.04) 8.65 0.46

Dividend

Metric LOGI QBTS Computer Hardware median
Dividend yield 1.35% — 2.47%
Payout ratio 0.49 0.00 0.00

Size

Metric LOGI QBTS Computer Hardware median
Market cap 14.31b 6.66b 462.08m

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