NextNav Inc. (NN) vs LiveRamp Holdings, Inc. (RAMP)

NextNav Inc. and LiveRamp Holdings, Inc. are both Software Infrastructure companies. NextNav Inc. and LiveRamp Holdings, Inc. are of similar size ($2.4B and $2.3B). NextNav Inc. has negative trailing earnings, so its P/E is not meaningful; LiveRamp Holdings, Inc. trades at 15.1×. LiveRamp Holdings, Inc. grew revenue faster over the last twelve months: 8.85% against −36.5%. LiveRamp Holdings, Inc. has the higher net margin (18.7% vs −2,812.6%) and the higher return on invested capital (9.94% vs −44.7%). Across the 17 metrics below, LiveRamp Holdings, Inc. leads on 15 and NextNav Inc. on 2.

Valuation

Metric NN RAMP Software Infrastructure median
P/E n/m 15.12 28.02
P/S 512.10 2.73 3.07
P/B 6.09 2.32 3.36
Price to free cash flow n/m 11.41 17.12
EV/EBITDA n/m 17.71 14.91
EV/Sales 521.74 2.34 3.03
Earnings yield (5.61%) 6.61% 0.13%
Free cash flow yield (2.63%) 8.76% 1.15%

Profitability

Metric NN RAMP Software Infrastructure median
Gross margin (104.90%) 70.82% 61.23%
Operating margin (1,900.43%) 11.59% 0.00%
Net margin (2,812.55%) 18.71% 0.00%
Free cash flow margin (1,348.00%) 23.90% 1.67%
Return on equity (77.87%) 16.18% 0.59%
Return on assets (34.64%) 12.40% 0.00%
Return on invested capital (44.71%) 9.94% 0.00%

Growth

Metric NN RAMP Software Infrastructure median
Revenue growth (TTM) (36.46%) 8.85% 13.41%
EPS growth (last fiscal year) (69.05%) 22,500.00% —
Revenue growth, 5-year CAGR 51.71% 12.91% 15.81%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric NN RAMP Software Infrastructure median
Debt to equity 0.00 0.00 0.06
Current ratio 25.63 2.66 1.55
Net debt to EBITDA (2.30) (4.00) 0.08

Dividend

Metric NN RAMP Software Infrastructure median
Dividend yield — — 1.53%
Payout ratio 0.00 0.00 0.00

Size

Metric NN RAMP Software Infrastructure median
Market cap 2.42b 2.28b 835.96m

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