ONESPAN INC (OSPN) vs Xanadu Quantum Technologies Limited (XNDU)

ONESPAN INC and Xanadu Quantum Technologies Limited are both Software Infrastructure companies. ONESPAN INC is the larger, with a market value of $808.0M against $724.5M — 1.1× the size. Xanadu Quantum Technologies Limited has negative trailing earnings, so its P/E is not meaningful; ONESPAN INC trades at 11.9×. ONESPAN INC has the higher net margin (27.5% vs −1,475.7%) and the higher return on invested capital (12.0% vs −155.2%). Across the 14 metrics below, ONESPAN INC leads on 11 and Xanadu Quantum Technologies Limited on 3.

Valuation

Metric OSPN XNDU Software Infrastructure median
P/E 11.86 n/m 24.43
P/S 3.22 119.51 2.81
P/B 2.90 2.33 2.88
Price to free cash flow 18.33 n/m 17.94
EV/EBITDA 13.24 n/m 14.51
EV/Sales 3.04 73.57 2.91
Earnings yield 8.43% (37.48%) 0.00%
Free cash flow yield 5.46% (9.75%) 0.49%

Profitability

Metric OSPN XNDU Software Infrastructure median
Gross margin 74.26% 94.26% 57.45%
Operating margin 17.90% (1,337.04%) 0.00%
Net margin 27.52% (1,475.65%) 0.00%
Free cash flow margin 17.56% (1,165.01%) 0.00%
Return on equity 26.85% 0.00% 0.00%
Return on assets 18.76% (46.87%) 0.00%
Return on invested capital 11.98% (155.22%) 0.00%

Growth

Metric OSPN XNDU Software Infrastructure median
Revenue growth (TTM) 4.88% — 14.28%
EPS growth (last fiscal year) 28.77% — 18.26%
Revenue growth, 5-year CAGR 2.43% — 16.15%
Net income growth, 5-year CAGR 0.00% — 0.00%

Health

Metric OSPN XNDU Software Infrastructure median
Debt to equity 0.03 0.10 0.02
Current ratio 1.35 25.54 1.53
Net debt to EBITDA (1.15) — 0.05

Dividend

Metric OSPN XNDU Software Infrastructure median
Dividend yield 2.32% — 1.06%
Payout ratio 0.28 — 0.29

Size

Metric OSPN XNDU Software Infrastructure median
Market cap 808.00m 724.46m 661.51m

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