Marqeta, Inc. (MQ) vs Progress Software Corporation (PRGS)

Marqeta, Inc. and Progress Software Corporation are both Software Infrastructure companies. Marqeta, Inc. and Progress Software Corporation are of similar size ($1.7B and $1.7B). Progress Software Corporation trades at the lower P/E: 18.8× against 154×. Marqeta, Inc. grew revenue faster over the last twelve months: 22.4% against 15.5%. Progress Software Corporation has the higher net margin (8.87% vs 1.53%) and the higher return on invested capital (6.41% vs 0.00%). Across the 22 metrics below, Progress Software Corporation leads on 16 and Marqeta, Inc. on 6.

Valuation

Metric MQ PRGS Software Infrastructure median
P/E 154.18 18.82 28.02
P/S 2.64 1.64 3.07
P/B 2.50 3.26 3.36
Price to free cash flow 10.70 5.40 17.12
EV/EBITDA 50.93 8.69 14.91
EV/Sales 1.55 2.84 3.03
Earnings yield 0.65% 5.31% 0.13%
Free cash flow yield 9.35% 18.52% 1.15%

Profitability

Metric MQ PRGS Software Infrastructure median
Gross margin 69.99% 81.79% 61.23%
Operating margin (1.91%) 17.33% 0.00%
Net margin 1.53% 8.87% 0.00%
Free cash flow margin 24.69% 30.41% 1.67%
Return on equity 1.33% 18.57% 0.59%
Return on assets 0.80% 3.74% 0.00%
Return on invested capital 0.00% 6.41% 0.00%

Growth

Metric MQ PRGS Software Infrastructure median
Revenue growth (TTM) 22.41% 15.50% 13.41%
EPS growth (last fiscal year) (160.00%) 7.79% —
Revenue growth, 5-year CAGR 16.57% 17.20% 15.81%
Net income growth, 5-year CAGR 0.00% (1.71%) 0.00%

Health

Metric MQ PRGS Software Infrastructure median
Debt to equity 0.31 2.55 0.06
Current ratio 1.66 0.81 1.55
Net debt to EBITDA 42.70 3.04 0.08

Dividend

Metric MQ PRGS Software Infrastructure median
Dividend yield — 1.23% 1.53%
Payout ratio 0.00 0.40 0.00

Size

Metric MQ PRGS Software Infrastructure median
Market cap 1.72b 1.65b 835.96m

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