Flywire vs Marqeta
Flywire and Marqeta are similar in size: $623m and $625m of revenue in their latest fiscal years. Flywire grew faster (26.6% against 23.3%). Flywire kept more of each dollar of sales as profit: a net margin of 2.2% against -2.2%. Marqeta carries less debt relative to equity (0.0% against 1.8%).
| Latest fiscal year | FlywireFLYW, 2025 | MarqetaMQ, 2025 |
|---|---|---|
| Revenue | $623m | $625m |
| Revenue growth | 26.6% | 23.3% |
| Net income | $13.5m | −$13.9m |
| Operating margin | 1.8% | -7.4% |
| Net margin | 2.2% | -2.2% |
| Return on equity | 1.6% | -1.5% |
| Free cash flow | $98.8m | $161m |
| Cash | $330m | $709m |
| Total debt | $15.0m | $0 |
| Debt to equity | 1.8% | 0.0% |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | — | $391m |
| Employees | — | — |
| Market value | $2.33bn | $1.90bn |
| Price vs our value range | Within our value range | — |
| Moat score | 37 (Weak) | 38 (Weak) |
| Insider trades, 12 months | 3 buys, 53 sales | 1 buys, 35 sales |