Remitly Global, Inc. (RELY) vs WEX Inc. (WEX)

Remitly Global, Inc. and WEX Inc. are both Software Infrastructure companies. WEX Inc. is the larger, with a market value of $5.9B against $4.6B — 1.3× the size. Remitly Global, Inc. trades at the lower P/E: 12.5× against 15.3×. Remitly Global, Inc. grew revenue faster over the last twelve months: 23.0% against 9.75%. Remitly Global, Inc. has the higher net margin (19.1% vs 14.0%) and the higher return on invested capital (25.5% vs 0.00%). Across the 20 metrics below, Remitly Global, Inc. leads on 15 and WEX Inc. on 5.

Valuation

Metric RELY WEX Software Infrastructure median
P/E 12.46 15.32 24.43
P/S 2.41 2.13 2.81
P/B 3.74 5.31 2.88
Price to free cash flow 12.23 n/m 17.94
EV/EBITDA 18.86 5.00 14.51
EV/Sales 2.15 1.91 2.91
Earnings yield 8.02% 6.53% 0.00%
Free cash flow yield 8.18% (5.72%) 0.49%

Profitability

Metric RELY WEX Software Infrastructure median
Gross margin 0.00% 60.39% 57.45%
Operating margin 12.03% 26.61% 0.00%
Net margin 19.14% 14.04% 0.00%
Free cash flow margin 0.00% (12.15%) 0.00%
Return on equity 35.95% 35.63% 0.00%
Return on assets 25.37% 2.64% 0.00%
Return on invested capital 25.51% 0.00% 0.00%

Growth

Metric RELY WEX Software Infrastructure median
Revenue growth (TTM) 22.99% 9.75% 14.28%
EPS growth (last fiscal year) 263.16% 12.93% 18.26%
Revenue growth, 5-year CAGR 44.79% 11.27% 16.15%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric RELY WEX Software Infrastructure median
Debt to equity 0.00 3.00 0.02
Current ratio 3.50 1.03 1.53
Net debt to EBITDA (3.10) (2.49) 0.05

Dividend

Metric RELY WEX Software Infrastructure median
Dividend yield — — 1.06%
Payout ratio — — 0.29

Size

Metric RELY WEX Software Infrastructure median
Market cap 4.56b 5.91b 661.51m

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