Impinj, Inc. (PI) vs Rambus, Inc. (RMBS)

Impinj, Inc. and Rambus, Inc. are both Semiconductors companies. Rambus, Inc. is the larger, with a market value of $10.1B against $5.8B — 1.7× the size. Impinj, Inc. has negative trailing earnings, so its P/E is not meaningful; Rambus, Inc. trades at 39.5×. Rambus, Inc. grew revenue faster over the last twelve months: 17.2% against 3.51%. Rambus, Inc. has the higher net margin (31.7% vs −7.26%) and the higher return on invested capital (26.2% vs −1.23%). Across the 20 metrics below, Rambus, Inc. leads on 20 and Impinj, Inc. on 0.

Valuation

Metric PI RMBS Semiconductors median
P/E n/m 39.48 45.58
P/S 14.39 12.51 7.63
P/B 23.08 6.45 4.90
Price to free cash flow 85.20 31.90 48.34
EV/EBITDA 594.40 28.12 28.36
EV/Sales 14.68 11.65 7.15
Earnings yield (0.52%) 2.53% 0.75%
Free cash flow yield 1.17% 3.13% 0.67%

Profitability

Metric PI RMBS Semiconductors median
Gross margin 52.86% 79.47% 52.28%
Operating margin (1.80%) 35.51% 4.76%
Net margin (7.26%) 31.69% 4.26%
Free cash flow margin 16.95% 39.60% 8.47%
Return on equity (12.87%) 17.79% 2.59%
Return on assets (5.17%) 15.56% 1.78%
Return on invested capital (1.23%) 26.16% 2.27%

Growth

Metric PI RMBS Semiconductors median
Revenue growth (TTM) 3.51% 17.17% 16.92%
EPS growth (last fiscal year) (126.62%) 27.88% 27.17%
Revenue growth, 5-year CAGR 21.05% 23.50% 5.83%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric PI RMBS Semiconductors median
Debt to equity 1.04 0.00 0.05
Current ratio 3.28 9.75 3.28
Net debt to EBITDA 7.67 (2.52) 0.58

Dividend

Metric PI RMBS Semiconductors median
Dividend yield — — 1.19%
Payout ratio — — 0.40

Size

Metric PI RMBS Semiconductors median
Market cap 5.83b 10.07b 5.43b

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