OSPN vs NCNO

For growth investors, nCino, Inc.

(NCNO) is the stronger pick with 13. 5% revenue growth year-over-year, versus 0. 0% for OneSpan Inc. (OSPN). OneSpan Inc. (OSPN) offers the better valuation at 6. 4x trailing P/E (9. 9x forward), making it the more compelling value choice. Analysts rate OneSpan Inc. (OSPN) a "Buy" — based on 15 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.

On forward P/E, OneSpan Inc.

is actually cheaper at 9. 9x.

Over the past 5 years, OneSpan Inc.

(OSPN) delivered a total return of -50. 3%, compared to -68. 6% for nCino, Inc. (NCNO). Over 10 years, the gap is even starker: OSPN returned -21. 7% versus NCNO's -80. 6%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.

By beta (market sensitivity over 5 years), nCino, Inc.

(NCNO) is the lower-risk stock at 1. 18β versus OneSpan Inc. 's 1. 23β — meaning OSPN is approximately 4% more volatile than NCNO relative to the S&P 500. On balance sheet safety, OneSpan Inc. (OSPN) carries a lower debt/equity ratio of 2% versus 22% for nCino, Inc. — giving it more financial flexibility in a downturn.

By revenue growth (latest reported year), nCino, Inc.

(NCNO) is pulling ahead at 13. 5% versus 0. 0% for OneSpan Inc. (OSPN). On earnings-per-share growth, the picture is similar: OneSpan Inc. grew EPS 30. 1% year-over-year, compared to 13. 2% for nCino, Inc.. Over a 3-year CAGR, NCNO leads at 25. 4% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.

OneSpan Inc.

(OSPN) is the more profitable company, earning 30. 0% net margin versus -7. 0% for nCino, Inc. — meaning it keeps 30. 0% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: OSPN leads at 20. 6% versus -3. 4% for NCNO. At the gross margin level — before operating expenses — OSPN leads at 70. 7%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.

On forward earnings alone, OneSpan Inc.

(OSPN) trades at 9. 9x forward P/E versus 19. 6x for nCino, Inc. — 9. 7x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for NCNO: 81. 8% to $32. 33.

In this comparison, OSPN (3.

9% yield) pays a dividend. NCNO does not pay a meaningful dividend and should not be held primarily for income.

For long-horizon retirement investors, OneSpan Inc.

(OSPN) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 1. 23), 3. 9% yield). Both have compounded well over 10 years (OSPN: -21. 7%, NCNO: -80. 6%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.

Both stocks operate in the Technology sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.

In terms of investment character: OSPN is a small-cap deep-value stock; NCNO is a small-cap quality compounder stock. OSPN pays a dividend while NCNO does not, making them suitable for different income and tax situations. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.