Alvotech (ALVO) vs Eton Pharmaceuticals, Inc. (ETON)

Alvotech and Eton Pharmaceuticals, Inc. are both Drug Manufacturers Specialty & Generic companies. Alvotech is the larger, with a market value of $2.3B against $1.7B — 1.3× the size. Alvotech has negative trailing earnings, so its P/E is not meaningful; Eton Pharmaceuticals, Inc. trades at 123×. Alvotech grew revenue faster over the last twelve months: 364.3% against 81.5%. Eton Pharmaceuticals, Inc. has the higher net margin (12.0% vs −101.1%) and the higher return on invested capital (21.4% vs 0.00%). Across the 16 metrics below, Eton Pharmaceuticals, Inc. leads on 9 and Alvotech on 7.

Valuation

Metric ALVO ETON Drug Manufacturers Specialty & Generic median
P/E n/m 122.72 20.14
P/S 5.77 15.10 2.25
P/B n/m 34.23 1.90
Price to free cash flow n/m n/m 16.54
EV/EBITDA n/m 74.26 12.29
EV/Sales 9.74 15.11 2.56
Earnings yield (20.81%) 0.81% (2.99%)
Free cash flow yield (12.51%) (0.53%) 0.00%

Profitability

Metric ALVO ETON Drug Manufacturers Specialty & Generic median
Gross margin 42.71% 57.87% 53.94%
Operating margin (42.43%) 15.44% 0.00%
Net margin (101.05%) 12.02% 0.00%
Free cash flow margin 0.00% (7.94%) 0.00%
Return on equity 0.00% 35.97% (0.40%)
Return on assets 0.00% 11.67% (3.32%)
Return on invested capital 0.00% 21.39% 0.00%

Growth

Metric ALVO ETON Drug Manufacturers Specialty & Generic median
Revenue growth (TTM) 364.29% 81.49% 10.01%
EPS growth (last fiscal year) 111.49% (13.33%) —
Revenue growth, 5-year CAGR — 359.57% 6.74%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric ALVO ETON Drug Manufacturers Specialty & Generic median
Debt to equity (6.82) 0.60 0.05
Current ratio 1.65 1.52 2.31
Net debt to EBITDA 9.71 1.18 0.85

Dividend

Metric ALVO ETON Drug Manufacturers Specialty & Generic median
Dividend yield — — 1.70%
Payout ratio 0.00 0.00 0.00

Size

Metric ALVO ETON Drug Manufacturers Specialty & Generic median
Market cap 2.30b 1.72b 337.35m

Compare with another peer

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