Marqeta, Inc. (MQ) vs Xanadu Quantum Technologies Limited (XNDU)

Marqeta, Inc. and Xanadu Quantum Technologies Limited are both Software Infrastructure companies. Marqeta, Inc. and Xanadu Quantum Technologies Limited are of similar size ($1.7B and $1.6B). Xanadu Quantum Technologies Limited has negative trailing earnings, so its P/E is not meaningful; Marqeta, Inc. trades at 154×. Marqeta, Inc. has the higher net margin (1.53% vs −1,475.7%) and the higher return on invested capital (0.00% vs −155.2%). Across the 14 metrics below, Marqeta, Inc. leads on 11 and Xanadu Quantum Technologies Limited on 3.

Valuation

Metric MQ XNDU Software Infrastructure median
P/E 154.18 n/m 28.02
P/S 2.64 244.44 3.07
P/B 2.50 4.76 3.36
Price to free cash flow 10.70 n/m 17.12
EV/EBITDA 50.93 n/m 14.91
EV/Sales 1.55 198.49 3.03
Earnings yield 0.65% (18.32%) 0.13%
Free cash flow yield 9.35% (4.77%) 1.15%

Profitability

Metric MQ XNDU Software Infrastructure median
Gross margin 69.99% 94.26% 61.23%
Operating margin (1.91%) (1,337.04%) 0.00%
Net margin 1.53% (1,475.65%) 0.00%
Free cash flow margin 24.69% (1,165.01%) 1.67%
Return on equity 1.33% 0.00% 0.59%
Return on assets 0.80% (46.87%) 0.00%
Return on invested capital 0.00% (155.22%) 0.00%

Growth

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

Health

Metric MQ XNDU Software Infrastructure median
Debt to equity 0.31 0.10 0.06
Current ratio 1.66 25.54 1.55
Net debt to EBITDA 42.70 — 0.08

Dividend

Metric MQ XNDU Software Infrastructure median
Dividend yield — — 1.53%
Payout ratio 0.00 — 0.00

Size

Metric MQ XNDU Software Infrastructure median
Market cap 1.72b 1.57b 835.96m

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