System1 Inc's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of System1 Inc (SST) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: System1 Inc vs Its Competitors
- TTM: Trailing 12-month revenue of 181M vs 1,865,785M combined for tracked competitors (0.0% combined share).
- Trending: Latest-quarter revenue run-rate is decelerating (-33.2% annualized vs trailing 12 months), vs accelerating (+5.8%) for its tracked peer group.
- Growth: System1 Inc generated -61.3% revenue growth year over year in Q2 2026, vs 17.2% for its tracked competitors combined.
- Profitability: Its -50.8% net margin compares with 46.8% for the peer group.
- Scale: System1 Inc ranks #60 of 92 companies by market capitalization in the Internet Services & Social Media industry, holding 0.0% of industry market cap.
- Peer revenue share: System1 Inc accounted for 0.0% of combined revenue among its tracked peer group, down from 0.0% a year earlier.
- Peer differentiation: Revenue per employee of $0.72M compares with $0.90M for the peer group (0.8x).
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
SST Sales vs. its Competitors, Q2 2026
System1 Inc reported revenue contraction of 61.34 % year on year in Q2 2026, below its competitors' combined revenue growth of 17.24 %.
With a net margin of -50.77 %, System1 Inc reported lower profitability than its competitors (46.76 %).
System1 Inc generated 0.01 % of the combined sales of its peer group, down from 0.02 % a year earlier.
System1 Inc vs. its Competitors, Q2 2026
Revenue growth, year on year
Net margin
Revenue run-rate vs trailing 12 months
TTM net margin
TTM = trailing twelve months. Run-rate annualizes the latest quarter (×4) and compares it to TTM. In millions of $. High-Confidence Competitors are named as a competitor directly in an SEC filing; Similar-Size Competitors are the closest peers by market-cap rank within the same industry; Similar Growth & Profitability Competitors are the closest peers by combined revenue growth, operating margin and ROIC, all independent of the competitor list.
TTM revenue, latest-quarter run-rate and net income/margin benchmarked across System1 Inc and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| System1 Inc | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
| High-Confidence Competitors (4) | $12,345M | +12.3% · Accelerating |
| Similar-Size Competitors (6) | $12,345M | +12.3% · Accelerating |
| Similar Growth & Profitability (4) | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across System1 Inc's competitor groups requires a Commercial License.
For context: the Internet Services & Social Media industry grew revenue 20.1% year over year, combined, vs -61.3% for System1 Inc. System1 Inc's share of combined industry revenue moved from 0.03% to 0.01%, a loss of 0.02 percentage points.
System1 Inc's Competitor Quality Breadth
Share of each group, trailing 12 months: profitable (net margin > 0), expanding (revenue growth > 0), growing faster than the industry's own median, and financially distressed (Piotroski F-Score of 2 or below).
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| System1 Inc | No | No | No | - |
| Competitors combined (17) | ||||
| High-Confidence Competitors (6) | ||||
| Similar-Size Competitors (9) | ||||
| Similar Growth & Profitability (8) | 0.00 % (0 of 8) | 0.00 % (0 of 8) | 0.00 % (0 of 8) | 37.50 % (3 of 8) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
SST Stock Performance relative to its Competitors
SST Stock Performance relative to High-Confidence Competitors
SST Stock Performance relative to Similar-Size Competitors
SST Stock Performance relative to Similar Growth & Profitability Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | Pubmatic Inc | 282.9% | Outperformed |
| 2 | Viant Technology Inc | 282.9% | Outperformed |
| 3 | Harte Hanks Inc | 282.9% | Outperformed |
| 4 | Doubleverify Holdings Inc | 282.9% | Outperformed |
| 5 | Amazon com Inc | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for System1 Inc's best-performing tracked competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
System1 Inc's Comment on Competition and Industry Peers
Publicly Traded Peers of System1 Inc
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
| System1 Inc | 22.12 | 180.94 |
| Alphabet Inc | 4,174,720.44 | 445,866.00 |
| Microsoft Corporation | 3,795,216.66 | 331,839.00 |
| Amazon com Inc | 2,683,773.45 | 776,231.00 |
| Meta Platforms Inc | 1,836,280.92 | 228,248.00 |
| Taboola com Ltd | 990,735.88 | 1,960.73 |
| SUBTOTAL | 13,896,262.91 | 1,866,973.81 |
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Sources: System1 Inc's official press releases and regulatory filings; CSIMarket.com's market research; and the financial filings and press releases of the other companies cited.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on System1 Inc versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
System1 Inc's Competitors Named by the Company
Competitive relationships identified from SEC filings and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| Microsoft | Named by the company | 85% |
| Ageagle Aerial Systems Inc | Named by the company | 85% |
| Named by the company | 85% | |
| Cannae Holdings Inc | Named by the company | 85% |
| Ziff Davis, Inc. | Named by the company | 85% |
| IAC Inc. | Named by the company | 85% |
| Perion Network Ltd | Named by the company | 85% |
Filing basis, confidence, active dates and source counts for System1 Inc's named competitors require a Commercial License.
Methodology: relationships are extracted from SEC filings (named-competitor disclosures) and corroborating sources. Named by the company = explicitly disclosed as a competitor; Inferred = derived from corroborating signals. Confidence reflects evidence strength.
System1 Inc's Business Segment Mix vs Peers
Revenue by operating segment or division, as named and reported by each company. Segment names are the filer's own and are not standardized across companies. Do not assume a same-named or similarly-named segment is defined identically between two companies. Shares are of each company's own total revenue and are not required to sum to 100% (intersegment revenue, unallocated items).| Company | Largest Segment |
|---|---|
| System1 Inc | Products 50.61 % |
| Alphabet Inc | Google Services 85.60 % |
| Microsoft Corporation | Productivity and Business Processes 42.19 % |
| Amazon com Inc | North America 57.75 % |
| Meta Platforms Inc | Family of Apps 99.29 % |
| Oracle Corporation | Cloud and Software Business 83.96 % |
Source: operating segment revenue as reported in each company's SEC filings (10-K/10-Q), via the CSIMarket API, leaf-level reportable segments only (parent roll-up segments are excluded where sub-segments are separately disclosed).
System1 Inc's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| System1 Inc | 22 | 723,740 | -450,872 |
| Alphabet Inc | 4,174,720 | 9,645,768 | 5,283,078 |
| Microsoft Corporation | 3,795,217 | 1,488,067 | 599,771 |
| Amazon com Inc | 2,683,773 | 492,532 | 85,838 |
| Meta Platforms Inc | 1,836,281 | 2,894,161 | 863,476 |
| Taboola com Ltd | 990,736 | 980,366 | 59,381 |
| PEERS TOTAL | 13,896,241 | 895,067 | 287,963 |
System1 Inc's Geographic Revenue Exposure vs Peers
Revenue by country/region as reported in each company's most recent filing. Disclosure granularity varies by filer (some report by country, others by broad region) and is shown as disclosed.| Company | Largest Market |
|---|---|
| System1 Inc | United States 98.30 % |
| Alphabet Inc | United States 47.77 % |
| Microsoft Corporation | US 51.47 % |
| Meta Platforms Inc | US & Canada 37.77 % |
| Oracle Corporation | Americas 63.46 % |
| Magnite Inc | United States 75.01 % |
Source: revenue geography as reported in each company's SEC filings (10-K/10-Q), via the CSIMarket API. Percentages are of that company's own total consolidated revenue for its most recent reported period.
System1 Inc's Position in Industry Market Structure
Market-capitalization share and concentration across all 75 companies in System1 Inc's industry classification, broader than the peer set above. Market cap in millions of $.System1 Inc ranks #60 of 75 companies by market capitalization in its industry, holding 0.00 % of total industry market cap. The industry's Herfindahl-Hirschman Index (HHI) is 6,223, indicating a highly concentrated market structure (U.S. antitrust guidance: below 1,500 unconcentrated, 1,500 to 2,500 moderately concentrated, above 2,500 highly concentrated).
| Rank | Company | Market Cap | Industry Share |
|---|---|---|---|
| 1 | Meta Platforms Inc | 1,858,015 | 78.61 % |
| 2 | Applovin Corporation | 104,741 | 4.43 % |
| 3 | Nebius Group n v | 60,012 | 2.54 % |
| 4 | Gds Holdings Limited | 52,815 | 2.23 % |
| 5 | Rentokil Initial Plc | 1,234 | 5.2% |
| 6 | Thomson Reuters Corporation | 1,234 | 5.2% |
| 7 | Zoom Communications Inc | 1,234 | 5.2% |
| 8 | Digitalocean Holdings Inc | 1,234 | 5.2% |
| 9 | Flutter Entertainment Plc | 1,234 | 5.2% |
| 10 | Gartner Inc | 1,234 | 5.2% |
| 60 | System1 Inc | 22 | 0.00 % |
Market cap and industry share for the rest of System1 Inc's industry peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation) across CSIMarket's industry classification, market capitalization as of 2026-09-28.
System1 Inc's Same-Size Peers & Stock Performance
Peers chosen by closeness in market-cap rank within the same industry classification (not the named-competitor list above). Trailing 12-month total return, 3-month price momentum, beta and Sharpe ratio vs the broad U.S. market.| Rank | Company | Market Cap | TTM Return |
|---|---|---|---|
| 55 | Sangoma Technologies Corp | 117 | -27.62 % |
| 56 | Eva Live Inc | 77 | -54.73 % |
| 57 | Podcastone Inc | 65 | 25.41 % |
| 58 | Wintergreen Acquisition Corp | 60 | - |
| 59 | Teads Holding Co | 1,234 | 12.3% |
| 60 | System1 Inc | 22 | -62.52 % |
| 61 | Microcloud Hologram Inc | 1,234 | 12.3% |
| 62 | Cardlytics Inc | 1,234 | 12.3% |
| 63 | Gigamedia Ltd | 1,234 | 12.3% |
| 64 | Tempus Ai Inc | 1,234 | 12.3% |
| 65 | Global Interactive Technologies Inc | 1,234 | 12.3% |
Market cap, return, momentum, beta and Sharpe ratio for the rest of System1 Inc's same-size peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation); returns and risk metrics as of 2026-09-28. Beta and Sharpe ratio are versus the broad U.S. equity market, not this industry.
System1 Inc's Profitability & Cost Structure
Trailing 12-month margins from SEC-filed financials. Operating margin is compared to the Internet Services & Social Media industry median; gross margin, EBITDA margin and capital intensity are compared to the live industry average (112 companies).| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | 50.68 % | 53.20 % (avg) | -2.5 pp |
| Operating Margin | -51.03 % | industry median | -47.3 pp |
| EBITDA Margin | -64.92 % | 8.63 % (avg) | -73.5 pp |
| Capital Intensity (Capex / Revenue) | 3.96 % | 6.24 % (avg) | -2.3 pp |
Source: CSIMarket API, trailing 12 months. SG&A and R&D as a share of revenue have limited coverage as this data is backfilled and appear only where reported. Higher capital intensity is not inherently negative; it reflects the industry's asset requirements.
System1 Inc's Valuation vs Competitive Position
Valuation multiples vs the Internet Services & Social Media industry average (112 companies, excluding loss-making/negative-equity outliers), alongside returns on capital for context on whether a premium or discount lines up with measurably stronger or weaker returns.| Metric | Company | Industry Average | Difference |
|---|---|---|---|
| P/E | - | 40.0x | - |
| EV / EBITDA | - | 20.6x | - |
| P/B | -2.3x | 4.5x | -6.8x |
| Return on Equity | 1,117.43 % | industry aggregate | 1,075.40 % |
| Return on Invested Capital | -41.95 % | 0.06 % (avg) | -42.01 % |
Source: CSIMarket API, trailing 12 months. A valuation premium or discount is not, by itself, a judgment of over- or under-valuation. Compare it against the return and growth context shown elsewhere on this page.
System1 Inc's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in SEC filings.| Metric | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Revenue Growth | - | - | - | -41.61 % | -31.08 % | -22.62 % |
| Operating Margin | - | - | -41.65 % | -21.39 % | -25.76 % | -23.31 % |
| Return on Invested Capital | - | -2.95 % | -13.73 % | -7.59 % | -16.42 % | -18.42 % |
| P/E | - | - | - | - | - | - |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
System1 Inc's Strategic Group Map
Every company in System1 Inc's industry and named-competitor list, plotted by trailing 12-month revenue growth and operating margin. System1 Inc is shown in red; its closest peers by combined growth, margin and ROIC (the Similar Growth & Profitability group above) are labeled.
Source: CSIMarket API, trailing 12 months. Extreme outlier values (from near-zero-revenue companies) are excluded from the plotted cloud but never from the highlighted company or its labeled peers.
System1 Inc's BCG Growth-Share Matrix
Relative market share (vs System1 Inc's largest competitor by market cap) against industry revenue growth, using the standard textbook thresholds (1.0x share, 10% growth) a common framework, not a precision instrument.
System1 Inc falls in the Dog quadrant: relative market share of 0.00x vs its largest competitor, in an industry growing revenue 8.1% (median, trailing 12 months).
Source: CSIMarket API (market-cap share and industry revenue growth). The 10% growth and 1.0x share lines are standard textbook thresholds, not derived from this industry's own distribution. A caveat worth reading alongside this chart: Meta Platforms Inc alone holds 79% of this industry's market cap. In an industry this dominated by one leader, the framework will place nearly every OTHER company in "Dog" or "Question Mark" purely because relative share is measured against that leader, regardless of how strong those other companies actually are on their own fundamentals. Check the Profitability, Valuation and Financial Strength sections above before treating this quadrant label as a verdict.
System1 Inc's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Competitive Rivalry | Low | Industry HHI of 6,223 (see Industry Market Structure & Concentration above) |
| Barriers to Entry | Lower than typical for the industry | Capital intensity (capex / revenue) of 3.96 % vs industry average 6.24 % (see Profitability & Cost Structure above) |
| Supplier Power | Not covered on this page | See System1 Inc's dedicated suppliers page for concentration and dependency data |
| Buyer Power | Not covered on this page | See System1 Inc's dedicated customers page for concentration and dependency data |
| Threat of Substitutes | - | No systematic data source for cross-product substitution exists in this system; not estimated |
Note: this is a partial, data-grounded application of the framework, not a complete strategic assessment. Rivalry and barriers-to-entry readings are mechanical translations of the HHI and capital-intensity figures shown elsewhere on this page, not independent judgments.
System1 Inc's Industry Attractiveness & Competitive Strength
A CSIMarket composite, not a standard field: each axis is an equal-weighted average of three factors already shown elsewhere on this page (industry growth, industry profitability and rivalry for attractiveness; relative market share, profitability and growth vs industry for strength). Disclosed as a designed methodology, not a precision measurement.
System1 Inc falls in the Medium attractiveness / Low strength cell: Harvest.
Source: CSIMarket API, trailing 12 months. Each axis score is a simple 1(low)/2(medium)/3(high) average across its three inputs -- a transparent, disclosed simplification, not a validated academic scoring model.
System1 Inc's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
- Return on equity 1,075.4 points above the industry aggregate.
Weaknesses
- Operating margin 47.3 points below the industry median.
- Latest-quarter revenue run-rate is decelerating (-33.2% annualized vs trailing 12 months).
- Underperforming the U.S.A. 500 over the trailing 12 months.
- Low relative market share vs the industry leader (0.00x).
Opportunities
- A meaningful share of tracked competitors (42.90 %) show financial-distress signals, a possible opening to gain share.
Threats
- Industry dominated by Meta Platforms Inc , holding 78.61 % of industry market cap.
Methodology: mechanical, rule-based SWOT. Each bullet reuses a figure already sourced and cited elsewhere on this page; nothing here is generated narrative or independent analyst judgment.
System1 Inc's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| System1 Inc | 0.48 | 0.95 | - |
| Alphabet Inc | 0.55 | 2.13 | 0.13 |
| Microsoft Corporation | 0.13 | 1.31 | 0.11 |
| Amazon com Inc | 0.38 | 1.07 | 0.21 |
| Meta Platforms Inc | 0.47 | 2.29 | 0.25 |
| Taboola com Ltd | 0.27 | 1.09 | 0.09 |
Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
System1 Inc's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| System1 Inc | Q2 2026 | -61.3 % | - |
| Alphabet Inc | Q2 2026 | +24.2 % | +297.9 % |
| Microsoft Corporation | Q2 2026 | +17.7 % | +31.3 % |
| Amazon com Inc | Q2 2026 | +19.9 % | +244.9 % |
| Meta Platforms Inc | Q2 2026 | +28.0 % | -13.6 % |
| Taboola com Ltd | Q2 2026 | +2.4 % | - |
| PEERS TOTAL | +21.6 % | +143.4 % |
Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
System1 Inc's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| System1 Inc | Q2 2026 | -88.2 % | -12.4 % |
| Alphabet Inc | Q2 2026 | +17.7 % | +100.1 % |
| Microsoft Corporation | Q2 2026 | +22.9 % | +109.6 % |
| Amazon com Inc | Q2 2026 | +18.5 % | +300.3 % |
| Meta Platforms Inc | Q2 2026 | +33.4 % | +82.1 % |
| Taboola com Ltd | Q2 2026 | +2.3 % | +5.3 % |
System1 Inc's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| System1 Inc | - | - | - |
| Alphabet Inc | 35.42% | 42.01% | 50.84% |
| Microsoft Corporation | 19.76% | 22.48% | 34.22% |
| Amazon com Inc | 15.21% | 23.40% | 30.50% |
| Meta Platforms Inc | 17.98% | 20.69% | 29.73% |
| Taboola com Ltd | 7.61% | 10.84% | 12.80% |
ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
System1 Inc's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| System1 Inc | - | 0.12 |
| Alphabet Inc | 17.03 | 9.36 |
| Microsoft Corporation | 28.37 | 11.44 |
| Amazon com Inc | 19.79 | 3.46 |
| Meta Platforms Inc | 26.98 | 8.05 |
| Taboola com Ltd | 8.29 | 505.29 |
| PEERS AVERAGE | 23.14 | 7.44 |
P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.