Adaptive Biotechnologies Corporation (ADPT) vs CareDx, Inc. (CDNA)

Adaptive Biotechnologies Corporation and CareDx, Inc. are both Diagnostics & Research companies. Adaptive Biotechnologies Corporation is the larger, with a market value of $4.1B against $3.5B — 1.2× the size. Adaptive Biotechnologies Corporation has negative trailing earnings, so its P/E is not meaningful; CareDx, Inc. trades at 29.7×. Adaptive Biotechnologies Corporation grew revenue faster over the last twelve months: 50.1% against 34.4%. CareDx, Inc. has the higher net margin (24.2% vs −20.7%) and the higher return on invested capital (130.1% vs −16.6%). Across the 18 metrics below, CareDx, Inc. leads on 12 and Adaptive Biotechnologies Corporation on 6.

Valuation

Metric ADPT CDNA Diagnostics & Research median
P/E n/m 29.68 35.56
P/S 12.46 7.17 4.37
P/B 25.49 7.72 3.06
Price to free cash flow n/m 39.51 35.76
EV/EBITDA n/m 22.40 24.35
EV/Sales 12.43 6.36 5.51
Earnings yield (1.71%) 3.37% (1.89%)
Free cash flow yield (0.63%) 2.53% (0.15%)

Profitability

Metric ADPT CDNA Diagnostics & Research median
Gross margin 75.57% 70.58% 50.89%
Operating margin (12.16%) 23.61% (8.57%)
Net margin (20.73%) 24.23% (6.37%)
Free cash flow margin (7.80%) 18.49% 0.00%
Return on equity (38.68%) 29.49% (2.92%)
Return on assets (11.23%) 22.72% (6.71%)
Return on invested capital (16.57%) 130.06% 0.00%

Growth

Metric ADPT CDNA Diagnostics & Research median
Revenue growth (TTM) 50.13% 34.41% 7.69%
EPS growth (last fiscal year) 63.89% (143.01%) 25.92%
Revenue growth, 5-year CAGR 23.00% 14.59% 7.40%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric ADPT CDNA Diagnostics & Research median
Debt to equity 2.22 0.00 0.11
Current ratio 4.79 4.58 2.02
Net debt to EBITDA 5.43 19.49 0.70

Dividend

Metric ADPT CDNA Diagnostics & Research median
Dividend yield — — 0.66%
Payout ratio — — 0.20

Size

Metric ADPT CDNA Diagnostics & Research median
Market cap 4.08b 3.45b 2.16b

Compare with another peer

Any metric, up to five companies and an Excel export Powerpack