Adaptive Biotechnologies Corporation (ADPT) vs GeneDx Holdings Corp. (WGS)

Adaptive Biotechnologies Corporation and GeneDx Holdings Corp. are both Diagnostics & Research companies. Adaptive Biotechnologies Corporation is the larger, with a market value of $4.7B against $2.6B — 1.8× the size. Adaptive Biotechnologies Corporation grew revenue faster over the last twelve months: 50.1% against 25.4%. Adaptive Biotechnologies Corporation has the higher net margin (−20.7% vs −23.4%) and the higher return on invested capital (−16.6% vs −27.7%). Across the 18 metrics below, Adaptive Biotechnologies Corporation leads on 13 and GeneDx Holdings Corp. on 5.

Valuation

Metric ADPT WGS Diagnostics & Research median
P/E n/m n/m 33.95
P/S 15.27 5.78 4.87
P/B 31.23 10.75 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 5.70 5.66
Earnings yield (1.39%) (4.12%) (1.75%)
Free cash flow yield (0.51%) (2.89%) (0.13%)

Profitability

Metric ADPT WGS Diagnostics & Research median
Gross margin 75.57% 69.37% 50.89%
Operating margin (12.16%) (20.34%) (8.57%)
Net margin (20.73%) (23.40%) (6.37%)
Free cash flow margin (7.80%) (16.68%) 0.00%
Return on equity (38.68%) (40.80%) (2.92%)
Return on assets (11.23%) (22.50%) (6.71%)
Return on invested capital (16.57%) (27.70%) 0.00%

Growth

Metric ADPT WGS Diagnostics & Research median
Revenue growth (TTM) 50.13% 25.42% 7.69%
EPS growth (last fiscal year) 63.89% 62.37% —
Revenue growth, 5-year CAGR 23.00% 18.98% 7.40%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric ADPT WGS Diagnostics & Research median
Debt to equity 2.22 0.40 0.11
Current ratio 4.79 3.30 2.02
Net debt to EBITDA 5.43 (10.13) 0.78

Dividend

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

Size

Metric ADPT WGS Diagnostics & Research median
Market cap 4.71b 2.61b 2.56b

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