Agenus Inc. (AGEN) vs Kyverna Therapeutics, Inc. (KYTX)

Agenus Inc. and Kyverna Therapeutics, Inc. are both Biotechnology companies. Agenus Inc. and Kyverna Therapeutics, Inc. are of similar size ($290.8M and $285.1M). Kyverna Therapeutics, Inc. has negative trailing earnings, so its P/E is not meaningful; Agenus Inc. trades at 10.7×. Agenus Inc. has the higher net margin (22.0% vs 0.00%) and the higher return on invested capital (0.00% vs 0.00%). Across the 11 metrics below, Agenus Inc. leads on 9 and Kyverna Therapeutics, Inc. on 2.

Valuation

Metric AGEN KYTX Biotechnology median
P/E 10.70 n/m 10.60
P/S 3.33 n/m 9.40
P/B n/m 1.78 2.13
Price to free cash flow n/m n/m 25.18
EV/EBITDA 7.99 n/m 0.66
EV/Sales 3.24 n/m 9.02
Earnings yield 9.35% (60.62%) (32.88%)
Free cash flow yield (23.17%) (53.83%) (23.13%)

Profitability

Metric AGEN KYTX Biotechnology median
Gross margin 100.00% — 68.51%
Operating margin 38.94% 0.00% 0.00%
Net margin 21.99% 0.00% 0.00%
Free cash flow margin (77.54%) 0.00% 0.00%
Return on equity (14.99%) (87.24%) (51.96%)
Return on assets 12.29% (68.40%) (46.06%)
Return on invested capital 0.00% 0.00% 0.00%

Growth

Metric AGEN KYTX Biotechnology median
Revenue growth (TTM) 25.38% — 6.76%
EPS growth (last fiscal year) 100.00% (9.31%) 29.88%
Revenue growth, 5-year CAGR 5.31% — 9.75%
Net income growth, 5-year CAGR 0.00% — 0.00%

Health

Metric AGEN KYTX Biotechnology median
Debt to equity (0.22) 0.15 0.00
Current ratio 0.73 9.06 4.97
Net debt to EBITDA (4.10) 1.51 1.01

Dividend

Metric AGEN KYTX Biotechnology median
Dividend yield — — 0.41%
Payout ratio — — —

Size

Metric AGEN KYTX Biotechnology median
Market cap 290.84m 285.10m 161.82m

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