Perfect Corp. (PERF) vs SmartRent, Inc. (SMRT)

Perfect Corp. and SmartRent, Inc. are both Software Application companies. SmartRent, Inc. is the larger, with a market value of $224.5M against $195.6M — 1.1× the size. SmartRent, Inc. has negative trailing earnings, so its P/E is not meaningful; Perfect Corp. trades at 37.5×. Perfect Corp. grew revenue faster over the last twelve months: 10.4% against −2.78%. Perfect Corp. has the higher net margin (8.13% vs −13.0%) and the higher return on invested capital (0.00% vs −10.6%). Across the 18 metrics below, Perfect Corp. leads on 13 and SmartRent, Inc. on 5.

Valuation

Metric PERF SMRT Software Application median
P/E 37.55 n/m 24.79
P/S 2.63 1.51 2.67
P/B 1.19 1.02 3.01
Price to free cash flow 18.40 n/m 16.59
EV/EBITDA 11.11 n/m 14.40
EV/Sales 0.35 0.93 2.62
Earnings yield 2.66% (8.40%) 0.00%
Free cash flow yield 5.44% (2.81%) 1.91%

Profitability

Metric PERF SMRT Software Application median
Gross margin 79.73% 36.36% 67.03%
Operating margin 1.78% (14.92%) 0.00%
Net margin 8.13% (12.96%) 0.00%
Free cash flow margin 14.32% (4.25%) 4.32%
Return on equity 3.76% (8.45%) 0.00%
Return on assets 3.00% (6.05%) 0.00%
Return on invested capital 0.00% (10.64%) 0.00%

Growth

Metric PERF SMRT Software Application median
Revenue growth (TTM) 10.41% (2.78%) 12.40%
EPS growth (last fiscal year) 0.00% (88.24%) —
Revenue growth, 5-year CAGR 11.15% 23.73% 13.72%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric PERF SMRT Software Application median
Debt to equity 0.00 0.00 0.02
Current ratio 4.63 3.80 1.55
Net debt to EBITDA 227.58 3.41 0.06

Dividend

Metric PERF SMRT Software Application median
Dividend yield — — 1.25%
Payout ratio 0.00 0.00 0.00

Size

Metric PERF SMRT Software Application median
Market cap 195.55m 224.49m 396.11m

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