VirnetX Holding Corp (VHC) vs XBP Global Holdings, Inc. (XBP)

VirnetX Holding Corp and XBP Global Holdings, Inc. are both Software Infrastructure companies. VirnetX Holding Corp is the larger, with a market value of $51.6M against $40.0M — 1.3× the size. VirnetX Holding Corp has negative trailing earnings, so its P/E is not meaningful; XBP Global Holdings, Inc. trades at 0.0×. VirnetX Holding Corp grew revenue faster over the last twelve months: 1,925.0% against −31.5%. XBP Global Holdings, Inc. has the higher net margin (134.9% vs 0.00%) and the higher return on invested capital (−53.9% vs −1,098.1%). Across the 17 metrics below, XBP Global Holdings, Inc. leads on 9 and VirnetX Holding Corp on 8.

Valuation

Metric VHC XBP Software Infrastructure median
P/E n/m 0.04 28.02
P/S 242.72 0.05 3.07
P/B 2.61 0.84 3.36
Price to free cash flow n/m n/m 17.12
EV/EBITDA n/m 10.37 14.91
EV/Sales 156.99 0.48 3.03
Earnings yield (51.49%) 2,708.75% 0.13%
Free cash flow yield (41.87%) (233.72%) 1.15%

Profitability

Metric VHC XBP Software Infrastructure median
Gross margin 100.00% 22.25% 61.23%
Operating margin 0.00% (42.53%) 0.00%
Net margin 0.00% 134.88% 0.00%
Free cash flow margin 0.00% (11.39%) 1.67%
Return on equity (82.13%) 11,938.49% 0.59%
Return on assets (61.14%) 232.70% 0.00%
Return on invested capital (1,098.09%) (53.93%) 0.00%

Growth

Metric VHC XBP Software Infrastructure median
Revenue growth (TTM) 1,925.00% (31.54%) 13.41%
EPS growth (last fiscal year) 0.99% 2,390.28% —
Revenue growth, 5-year CAGR (77.83%) — 15.81%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric VHC XBP Software Infrastructure median
Debt to equity 0.00 8.14 0.06
Current ratio 6.24 0.64 1.55
Net debt to EBITDA 1.11 5.72 0.08

Dividend

Metric VHC XBP Software Infrastructure median
Dividend yield — — 1.53%
Payout ratio 0.00 0.00 0.00

Size

Metric VHC XBP Software Infrastructure median
Market cap 51.57m 40.04m 835.96m

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