Adaptive Biotechnologies Corporation (ADPT) vs GRAIL, Inc. (GRAL)

Adaptive Biotechnologies Corporation and GRAIL, Inc. are both Diagnostics & Research companies. GRAIL, Inc. is the larger, with a market value of $5.5B against $4.7B — 1.2× the size. Adaptive Biotechnologies Corporation grew revenue faster over the last twelve months: 50.1% against 23.1%. Adaptive Biotechnologies Corporation has the higher net margin (−20.7% vs −237.0%) and the higher return on invested capital (−16.6% vs −20.8%). Across the 17 metrics below, Adaptive Biotechnologies Corporation leads on 11 and GRAIL, Inc. on 6.

Valuation

Metric ADPT GRAL Diagnostics & Research median
P/E n/m n/m 33.95
P/S 15.27 33.10 4.87
P/B 31.23 2.15 3.12
Price to free cash flow n/m n/m 34.02
EV/EBITDA n/m n/m 25.20
EV/Sales 15.24 27.89 5.66
Earnings yield (1.39%) (7.68%) (1.75%)
Free cash flow yield (0.51%) (5.41%) (0.13%)

Profitability

Metric ADPT GRAL Diagnostics & Research median
Gross margin 75.57% (31.31%) 50.89%
Operating margin (12.16%) (338.40%) (8.57%)
Net margin (20.73%) (236.95%) (6.37%)
Free cash flow margin (7.80%) (179.21%) 0.00%
Return on equity (38.68%) (16.12%) (2.92%)
Return on assets (11.23%) (14.12%) (6.71%)
Return on invested capital (16.57%) (20.79%) 0.00%

Growth

Metric ADPT GRAL Diagnostics & Research median
Revenue growth (TTM) 50.13% 23.07% 7.69%
EPS growth (last fiscal year) 63.89% 82.51% —
Revenue growth, 5-year CAGR 23.00% — 7.40%
Net income growth, 5-year CAGR 0.00% — 0.00%

Health

Metric ADPT GRAL Diagnostics & Research median
Debt to equity 2.22 0.00 0.11
Current ratio 4.79 10.95 2.02
Net debt to EBITDA 5.43 2.27 0.78

Dividend

Metric ADPT GRAL Diagnostics & Research median
Dividend yield — — 0.70%
Payout ratio 0.00 — 0.00

Size

Metric ADPT GRAL Diagnostics & Research median
Market cap 4.71b 5.54b 2.56b

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