Mitek Systems, Inc. (MITK) vs PubMatic, Inc. (PUBM)

Mitek Systems, Inc. and PubMatic, Inc. are both Software Application companies. Mitek Systems, Inc. and PubMatic, Inc. are of similar size ($888.2M and $815.8M). PubMatic, Inc. has negative trailing earnings, so its P/E is not meaningful; Mitek Systems, Inc. trades at 35.2×. Mitek Systems, Inc. grew revenue faster over the last twelve months: 11.1% against −1.04%. Mitek Systems, Inc. has the higher net margin (11.4% vs −4.66%) and the higher return on invested capital (11.0% vs −9.01%). Across the 21 metrics below, Mitek Systems, Inc. leads on 14 and PubMatic, Inc. on 7.

Valuation

Metric MITK PUBM Software Application median
P/E 35.22 n/m 24.79
P/S 4.02 2.97 2.67
P/B 3.18 3.59 3.01
Price to free cash flow 16.36 15.88 16.59
EV/EBITDA 13.03 29.02 14.40
EV/Sales 3.77 2.49 2.62
Earnings yield 2.84% (1.61%) 0.00%
Free cash flow yield 6.11% 6.30% 1.91%

Profitability

Metric MITK PUBM Software Application median
Gross margin 83.61% 64.43% 67.03%
Operating margin 17.80% (5.05%) 0.00%
Net margin 11.39% (4.66%) 0.00%
Free cash flow margin 24.56% 18.68% 4.32%
Return on equity 9.23% (5.59%) 0.00%
Return on assets 5.53% (1.96%) 0.00%
Return on invested capital 11.00% (9.01%) 0.00%

Growth

Metric MITK PUBM Software Application median
Revenue growth (TTM) 11.10% (1.04%) 12.40%
EPS growth (last fiscal year) 171.43% (234.78%) —
Revenue growth, 5-year CAGR 12.14% 13.72% 13.72%
Net income growth, 5-year CAGR 2.40% 0.00% 0.00%

Health

Metric MITK PUBM Software Application median
Debt to equity 0.20 0.00 0.02
Current ratio 2.74 1.27 1.55
Net debt to EBITDA (4.63) (5.66) 0.06

Dividend

Metric MITK PUBM Software Application median
Dividend yield — — 1.25%
Payout ratio 0.00 0.00 0.00

Size

Metric MITK PUBM Software Application median
Market cap 815.81m 888.21m 396.11m

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