OSPN
OneSpan Inc.
Software - Infrastructure
Market Cap$442M
5Y Perf.-56.0%
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Stock Comparison
OSPN vs QLYS vs ALKT
Revenue, margins, valuation, and 5-year total return — side by side.
QLYS
Qualys, Inc.
Software - Infrastructure
Market Cap$3.24B
5Y Perf.-10.4%
ALKT
Alkami Technology, Inc.
Software - Application
Market Cap$1.79B
5Y Perf.-64.9%
OSPN vs QLYS vs ALKT — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | OSPN | QLYS | ALKT |
|---|---|---|---|
| Industry | Software - Infrastructure | Software - Infrastructure | Software - Application |
| Market Cap | $442M | $3.24B | $1.79B |
| Revenue (TTM) | $246M | $685M | $472M |
| Net Income (TTM) | $70M | $201M | $-50M |
| Gross Margin | 70.5% | 83.1% | 57.4% |
| Operating Margin | 19.4% | 33.7% | -9.3% |
| Forward P/E | 9.6x | 12.3x | 20.8x |
| Total Debt | $6M | $97M | $354M |
| Cash & Equiv. | $70M | $250M | $63M |
OSPN vs QLYS vs ALKT — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
OSPN
QLYS
ALKT
| Stock | Apr 21 | May 26 | Return |
|---|---|---|---|
| OneSpan Inc. (OSPN) | 100 | 44.0 | -56.0% |
| Qualys, Inc. (QLYS) | 100 | 89.6 | -10.4% |
| Alkami Technology, … (ALKT) | 100 | 35.1 | -64.9% |
Price return only. Dividends and distributions are not included.
Quick Verdict: OSPN vs QLYS vs ALKT
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: OSPN and QLYS are tied at the top with 3 categories each — the right choice depends on your priorities. Qualys, Inc. is the stronger pick specifically for profitability and margin quality and capital preservation and lower volatility. As sector peers, any of these can serve as alternatives in the same allocation.
OSPN
OneSpan Inc.
The Income Pick
OSPN has the current edge in this matchup, primarily because of its strength in income & stability and sleep-well-at-night.
- Dividend streak 2 yrs, beta 1.23, yield 4.1%
- Lower volatility, beta 1.23, Low D/E 2.3%, current ratio 1.50x
- Lower P/E (9.6x vs 20.8x)
Best for: income & stability and sleep-well-at-night
QLYS
Qualys, Inc.
The Long-Run Compounder
QLYS is the clearest fit if your priority is long-term compounding and defensive.
- 252.6% 10Y total return vs OSPN's -24.1%
- Beta 0.53, current ratio 1.41x
- 29.4% margin vs ALKT's -10.6%
Best for: long-term compounding and defensive
ALKT
Alkami Technology, Inc.
The Growth Play
ALKT is the clearest fit if your priority is growth exposure.
- Rev growth 32.9%, EPS growth -12.2%, 3Y rev CAGR 29.5%
- 32.9% revenue growth vs OSPN's 0.0%
Best for: growth exposure
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | ALKT | 32.9% revenue growth vs OSPN's 0.0% |
| Value | OSPN | Lower P/E (9.6x vs 20.8x) |
| Quality / Margins | QLYS | 29.4% margin vs ALKT's -10.6% |
| Stability / Safety | QLYS | Beta 0.53 vs ALKT's 1.30, lower leverage |
| Dividends | OSPN | 4.1% yield; 2-year raise streak; the other 2 pay no meaningful dividend |
| Momentum (1Y) | OSPN | -20.3% vs ALKT's -39.0% |
| Efficiency (ROA) | QLYS | 19.1% ROA vs ALKT's -5.9%, ROIC 47.5% vs -8.6% |
OSPN vs QLYS vs ALKT — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
FY 2025
FY 2025
FY 2025
OSPN vs QLYS vs ALKT — Financial Metrics
Side-by-side numbers across 3 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLOSPNLAGGINGALKT
Who Leads Where
QLYS leads in 2 of 6 categories
OSPN leads 2 • ALKT leads 0 • 2 tied
Explore the data ↓ALKTAlkami Technology, In…
0leads
QLYSQualys, Inc.
2leads
OSPNOneSpan Inc.
2leads
6 Total Categories
CATEGORYLEADERvs QLYSvs ALKTMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
QLYS5/6
Valuation MetricsMultiples, price ratios, and targets
OSPN5/6
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
QLYS6/9
Total Returns1Y, 3Y, 5Y total returns with dividends
Tied
—
Risk & VolatilityBeta, volatility, and downside exposure
Tied
—
Analyst OutlookRatings, price targets, and dividends
OSPN1/1
Income & Cash Flow (Last 12 Months)
QLYS leads this category, winning 5 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
QLYS is the larger business by revenue, generating $685M annually — 2.8x OSPN's $246M. QLYS is the more profitable business, keeping 29.4% of every revenue dollar as net income compared to ALKT's -10.6%. On growth, ALKT holds the edge at +28.9% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | OSPNOneSpan Inc. | QLYSQualys, Inc. | ALKTAlkami Technology… |
|---|---|---|---|
| RevenueTrailing 12 months | $246M | $685M | $472M |
| EBITDAEarnings before interest/tax | $57M | $241M | -$12M |
| Net IncomeAfter-tax profit | $70M | $201M | -$50M |
| Free Cash FlowCash after capex | $47M | $290M | $44M |
| Gross MarginGross profit ÷ Revenue | +70.5% | +83.1% | +57.4% |
| Operating MarginEBIT ÷ Revenue | +19.4% | +33.7% | -9.3% |
| Net MarginNet income ÷ Revenue | +28.5% | +29.4% | -10.6% |
| FCF MarginFCF ÷ Revenue | +19.0% | +42.4% | +9.4% |
| Rev. Growth (YoY)Latest quarter vs prior year | +4.1% | +9.8% | +28.9% |
| EPS Growth (YoY)Latest quarter vs prior year | -18.9% | +10.1% | -22.7% |
QLYS leads this category, winning 5 of 6 comparable metrics.
Valuation Metrics
OSPN leads this category, winning 5 of 6 comparable metrics.
Valuation Metrics
At 6.2x trailing earnings, OSPN trades at a 63% valuation discount to QLYS's 16.7x P/E. On an enterprise value basis, OSPN's 5.8x EV/EBITDA is more attractive than QLYS's 13.1x.
| Metric | OSPNOneSpan Inc. | QLYSQualys, Inc. | ALKTAlkami Technology… |
|---|---|---|---|
| Market CapShares × price | $442M | $3.2B | $1.8B |
| Enterprise ValueMkt cap + debt − cash | $378M | $3.1B | $2.1B |
| Trailing P/EPrice ÷ TTM EPS | 6.21x | 16.70x | -36.41x |
| Forward P/EPrice ÷ next-FY EPS est. | 9.61x | 12.32x | 20.84x |
| PEG RatioP/E ÷ EPS growth rate | — | 0.86x | — |
| EV / EBITDAEnterprise value multiple | 5.80x | 13.06x | — |
| Price / SalesMarket cap ÷ Revenue | 1.82x | 4.84x | 4.04x |
| Price / BookPrice ÷ Book value/share | 1.67x | 5.90x | 4.81x |
| Price / FCFMarket cap ÷ FCF | 8.76x | 10.65x | 43.34x |
OSPN leads this category, winning 5 of 6 comparable metrics.
Profitability & Efficiency
QLYS leads this category, winning 6 of 9 comparable metrics.
Profitability & Efficiency
QLYS delivers a 37.2% return on equity — every $100 of shareholder capital generates $37 in annual profit, vs $-14 for ALKT. OSPN carries lower financial leverage with a 0.02x debt-to-equity ratio, signaling a more conservative balance sheet compared to ALKT's 0.98x. On the Piotroski fundamental quality scale (0–9), QLYS scores 6/9 vs ALKT's 3/9, reflecting solid financial health.
| Metric | OSPNOneSpan Inc. | QLYSQualys, Inc. | ALKTAlkami Technology… |
|---|---|---|---|
| ROE (TTM)Return on equity | +27.3% | +37.2% | -14.0% |
| ROA (TTM)Return on assets | +18.9% | +19.1% | -5.9% |
| ROICReturn on invested capital | +21.7% | +47.5% | -8.6% |
| ROCEReturn on capital employed | +19.6% | +37.8% | -9.3% |
| Piotroski ScoreFundamental quality 0–9 | 5 | 6 | 3 |
| Debt / EquityFinancial leverage | 0.02x | 0.17x | 0.98x |
| Net DebtTotal debt minus cash | -$64M | -$153M | $290M |
| Cash & Equiv.Liquid assets | $70M | $250M | $63M |
| Total DebtShort + long-term debt | $6M | $97M | $354M |
| Interest CoverageEBIT ÷ Interest expense | 1656.95x | — | -3.73x |
QLYS leads this category, winning 6 of 9 comparable metrics.
Total Returns (Dividends Reinvested)
Evenly matched — OSPN and QLYS and ALKT each lead in 2 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in QLYS five years ago would be worth $9,250 today (with dividends reinvested), compared to $3,995 for ALKT. Over the past 12 months, OSPN leads with a -20.3% total return vs ALKT's -39.0%. The 3-year compound annual growth rate (CAGR) favors ALKT at 10.7% vs QLYS's -7.6% — a key indicator of consistent wealth creation.
| Metric | OSPNOneSpan Inc. | QLYSQualys, Inc. | ALKTAlkami Technology… |
|---|---|---|---|
| YTD ReturnYear-to-date | -2.9% | -30.7% | -26.1% |
| 1-Year ReturnPast 12 months | -20.3% | -28.4% | -39.0% |
| 3-Year ReturnCumulative with dividends | -9.5% | -21.2% | +35.6% |
| 5-Year ReturnCumulative with dividends | -51.4% | -7.5% | -60.1% |
| 10-Year ReturnCumulative with dividends | -24.1% | +252.6% | -61.0% |
| CAGR (3Y)Annualised 3-year return | -3.3% | -7.6% | +10.7% |
Evenly matched — OSPN and QLYS and ALKT each lead in 2 of 6 comparable metrics.
Risk & Volatility
Evenly matched — OSPN and QLYS each lead in 1 of 2 comparable metrics.
Risk & Volatility
QLYS is the less volatile stock with a 0.53 beta — it tends to amplify market swings less than ALKT's 1.30 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. OSPN currently trades 65.1% from its 52-week high vs ALKT's 52.9% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | OSPNOneSpan Inc. | QLYSQualys, Inc. | ALKTAlkami Technology… |
|---|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 1.23x | 0.53x | 1.30x |
| 52-Week HighHighest price in past year | $18.13 | $155.47 | $31.66 |
| 52-Week LowLowest price in past year | $10.07 | $74.51 | $14.11 |
| % of 52W HighCurrent price vs 52-week peak | +65.1% | +58.4% | +52.9% |
| RSI (14)Momentum oscillator 0–100 | 66.1 | 56.6 | 51.7 |
| Avg Volume (50D)Average daily shares traded | 593K | 768K | 1.9M |
Evenly matched — OSPN and QLYS each lead in 1 of 2 comparable metrics.
Analyst Outlook
OSPN leads this category, winning 1 of 1 comparable metric.
Analyst Outlook
Analyst consensus: OSPN as "Buy", QLYS as "Hold", ALKT as "Buy". Consensus price targets imply 47.8% upside for QLYS (target: $134) vs 31.3% for ALKT (target: $22). OSPN is the only dividend payer here at 4.07% yield — a key consideration for income-focused portfolios.
| Metric | OSPNOneSpan Inc. | QLYSQualys, Inc. | ALKTAlkami Technology… |
|---|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Hold | Buy |
| Price TargetConsensus 12-month target | $15.50 | $134.30 | $22.00 |
| # AnalystsCovering analysts | 15 | 48 | 12 |
| Dividend YieldAnnual dividend ÷ price | +4.1% | — | — |
| Dividend StreakConsecutive years of raises | 2 | — | 1 |
| Dividend / ShareAnnual DPS | $0.48 | — | — |
| Buyback YieldShare repurchases ÷ mkt cap | +3.0% | +5.7% | 0.0% |
OSPN leads this category, winning 1 of 1 comparable metric.
Key Takeaway
QLYS leads in 2 of 6 categories (Income & Cash Flow, Profitability & Efficiency). OSPN leads in 2 (Valuation Metrics, Analyst Outlook). 2 tied.
Best OverallOneSpan Inc. (OSPN)Leads 2 of 6 categories
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OSPN vs QLYS vs ALKT: Key Questions Answered
10 questions · data-driven answers · updated daily
01Is OSPN or QLYS or ALKT a better buy right now?
For growth investors, Alkami Technology, Inc.
(ALKT) is the stronger pick with 32. 9% revenue growth year-over-year, versus 0. 0% for OneSpan Inc. (OSPN). OneSpan Inc. (OSPN) offers the better valuation at 6. 2x trailing P/E (9. 6x 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.
02Which has the better valuation — OSPN or QLYS or ALKT?
On trailing P/E, OneSpan Inc.
(OSPN) is the cheapest at 6. 2x versus Qualys, Inc. at 16. 7x. On forward P/E, OneSpan Inc. is actually cheaper at 9. 6x.
03Which is the better long-term investment — OSPN or QLYS or ALKT?
Over the past 5 years, Qualys, Inc.
(QLYS) delivered a total return of -7. 5%, compared to -60. 1% for Alkami Technology, Inc. (ALKT). Over 10 years, the gap is even starker: QLYS returned +252. 6% versus ALKT's -61. 0%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — OSPN or QLYS or ALKT?
By beta (market sensitivity over 5 years), Qualys, Inc.
(QLYS) is the lower-risk stock at 0. 53β versus Alkami Technology, Inc. 's 1. 30β — meaning ALKT is approximately 146% more volatile than QLYS relative to the S&P 500. On balance sheet safety, OneSpan Inc. (OSPN) carries a lower debt/equity ratio of 2% versus 98% for Alkami Technology, Inc. — giving it more financial flexibility in a downturn.
05Which is growing faster — OSPN or QLYS or ALKT?
By revenue growth (latest reported year), Alkami Technology, Inc.
(ALKT) is pulling ahead at 32. 9% 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 -12. 2% for Alkami Technology, Inc.. Over a 3-year CAGR, ALKT leads at 29. 5% 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.
06Which has better profit margins — OSPN or QLYS or ALKT?
OneSpan Inc.
(OSPN) is the more profitable company, earning 30. 0% net margin versus -10. 7% for Alkami Technology, Inc. — meaning it keeps 30. 0% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: QLYS leads at 33. 2% versus -12. 1% for ALKT. At the gross margin level — before operating expenses — QLYS leads at 82. 8%, 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.
07Is OSPN or QLYS or ALKT more undervalued right now?
On forward earnings alone, OneSpan Inc.
(OSPN) trades at 9. 6x forward P/E versus 20. 8x for Alkami Technology, Inc. — 11. 2x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for QLYS: 47. 8% to $134. 30.
08Which pays a better dividend — OSPN or QLYS or ALKT?
In this comparison, OSPN (4.
1% yield) pays a dividend. QLYS, ALKT do not pay a meaningful dividend and should not be held primarily for income.
09Is OSPN or QLYS or ALKT better for a retirement portfolio?
For long-horizon retirement investors, Qualys, Inc.
(QLYS) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0. 53), +252. 6% 10Y return). Both have compounded well over 10 years (QLYS: +252. 6%, ALKT: -61. 0%), 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.
10What are the main differences between OSPN and QLYS and ALKT?
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; QLYS is a small-cap deep-value stock; ALKT is a small-cap high-growth stock. OSPN pays a dividend while QLYS, ALKT do 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.
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Revenue Growth>
%
(OSPN: 4.1% · QLYS: 9.8%)Net Margin>
%
(OSPN: 28.5% · QLYS: 29.4%)P/E Ratio<
x
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