Annexon, Inc. (ANNX) vs Pharming Group N.V. Sponsored ADR (PHAR)

Annexon, Inc. and Pharming Group N.V. Sponsored ADR are both Biotechnology companies. Annexon, Inc. and Pharming Group N.V. Sponsored ADR are of similar size ($738.9M and $720.4M). Annexon, Inc. has negative trailing earnings, so its P/E is not meaningful; Pharming Group N.V. Sponsored ADR trades at 69.7×. Pharming Group N.V. Sponsored ADR has the higher net margin (2.55% vs 0.00%) and the higher return on invested capital (5.50% vs 0.00%). Across the 15 metrics below, Pharming Group N.V. Sponsored ADR leads on 12 and Annexon, Inc. on 3.

Valuation

Metric ANNX PHAR Biotechnology median
P/E n/m 69.73 7.88
P/S n/m 1.52 11.47
P/B 3.93 2.06 2.52
Price to free cash flow n/m 16.24 21.16
EV/EBITDA n/m 16.28 0.74
EV/Sales n/m 1.36 10.73
Earnings yield (31.87%) 1.43% (28.84%)
Free cash flow yield (26.41%) 6.16% (23.03%)

Profitability

Metric ANNX PHAR Biotechnology median
Gross margin 0.00% 86.54% 65.16%
Operating margin 0.00% 5.04% 0.00%
Net margin 0.00% 2.55% 0.00%
Free cash flow margin 0.00% 9.38% 0.00%
Return on equity (105.26%) 3.67% (57.72%)
Return on assets (79.38%) 2.05% (49.22%)
Return on invested capital 0.00% 5.50% 0.00%

Growth

Metric ANNX PHAR Biotechnology median
Revenue growth (TTM) — 7.85% 5.64%
EPS growth (last fiscal year) (32.67%) 125.00% —
Revenue growth, 5-year CAGR — 12.13% 8.40%
Net income growth, 5-year CAGR 0.00% (40.35%) 0.00%

Health

Metric ANNX PHAR Biotechnology median
Debt to equity 0.00 0.36 0.00
Current ratio 5.53 3.01 4.73
Net debt to EBITDA 1.11 (2.21) 0.96

Dividend

Metric ANNX PHAR Biotechnology median
Dividend yield — — 2.10%
Payout ratio 0.00 0.00 0.00

Size

Metric ANNX PHAR Biotechnology median
Market cap 720.40m 738.94m 162.10m

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