Bakkt vs Enova International
Enova International is the larger business, with $3.15bn of revenue in fiscal 2025 against $2.34bn for Bakkt (1.3 times as much). Enova International grew faster (18.6% against -32.1%). Enova International kept more of each dollar of sales as profit: a net margin of 9.8% against -4.6%.
| Latest fiscal year | BakktBKKT, 2025 | Enova InternationalENVA, 2025 |
|---|---|---|
| Revenue | $2.34bn | $3.15bn |
| Revenue growth | -32.1% | 18.6% |
| Net income | −$107m | $308m |
| Operating margin | — | — |
| Net margin | -4.6% | 9.8% |
| Return on equity | -146.2% | 24.3% |
| Free cash flow | −$153m | $1.77bn |
| Cash | $27.0m | $71.7m |
| Total debt | $0 | $4.50bn |
| Debt to equity | — | — |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | — | $215m |
| Employees | 48 | 1,836 |
| Market value | $210m | $4.34bn |
| Price vs our value range | — | — |
| Moat score | — | 69 (Moderate) |
| Insider trades, 12 months | 5 buys, 21 sales | 0 buys, 35 sales |