Tucows Inc. (TCX) vs Ticketplus Ltd. (TP)

Tucows Inc. and Ticketplus Ltd. are both Software Infrastructure companies. Tucows Inc. is the larger, with a market value of $133.3M against $106.4M — 1.3× the size. Tucows Inc. has negative trailing earnings, so its P/E is not meaningful; Ticketplus Ltd. trades at 18.1×. Ticketplus Ltd. has the higher net margin (11.9% vs −17.9%) and the higher return on invested capital (56.7% vs −5.32%). Across the 16 metrics below, Ticketplus Ltd. leads on 13 and Tucows Inc. on 3.

Valuation

Metric TCX TP Software Infrastructure median
P/E n/m 18.13 24.52
P/S 0.36 2.37 2.78
P/B n/m 3.76 2.84
Price to free cash flow n/m n/m 18.22
EV/EBITDA 37.40 6.45 13.98
EV/Sales 2.01 1.96 2.92
Earnings yield (50.56%) 5.51% 0.00%
Free cash flow yield (14.05%) 0.00% 0.37%

Profitability

Metric TCX TP Software Infrastructure median
Gross margin 26.06% 45.35% 57.91%
Operating margin (4.66%) 20.02% 0.00%
Net margin (17.91%) 11.90% 0.00%
Free cash flow margin (4.79%) 0.00% 0.00%
Return on equity 40.02% 0.00% 0.00%
Return on assets (9.86%) 0.00% 0.00%
Return on invested capital (5.32%) 56.70% 0.00%

Growth

Metric TCX TP Software Infrastructure median
Revenue growth (TTM) 2.89% — 14.42%
EPS growth (last fiscal year) 33.30% 141.18% 17.35%
Revenue growth, 5-year CAGR 4.63% — 16.15%
Net income growth, 5-year CAGR 0.00% — 0.00%

Health

Metric TCX TP Software Infrastructure median
Debt to equity (2.17) 0.00 0.02
Current ratio 0.50 1.98 1.53
Net debt to EBITDA 15.65 (0.36) 0.05

Dividend

Metric TCX TP Software Infrastructure median
Dividend yield — — 1.04%
Payout ratio — — 0.29

Size

Metric TCX TP Software Infrastructure median
Market cap 133.30m 106.37m 606.60m

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