Ardelyx, Inc. (ARDX) vs MeiraGTx Holdings PLC (MGTX)

Ardelyx, Inc. and MeiraGTx Holdings PLC are both Biotechnology companies. Ardelyx, Inc. and MeiraGTx Holdings PLC are of similar size ($817.3M and $751.6M). Ardelyx, Inc. has negative trailing earnings, so its P/E is not meaningful; MeiraGTx Holdings PLC trades at 11.8×. MeiraGTx Holdings PLC grew revenue faster over the last twelve months: 948.4% against 17.6%. MeiraGTx Holdings PLC has the higher net margin (19.9% vs −11.9%) and the higher return on invested capital (66.6% vs −17.2%). Across the 18 metrics below, MeiraGTx Holdings PLC leads on 15 and Ardelyx, Inc. on 3.

Valuation

Metric ARDX MGTX Biotechnology median
P/E n/m 11.83 10.60
P/S 1.53 2.07 9.40
P/B 4.36 3.81 2.13
Price to free cash flow n/m 81.19 25.18
EV/EBITDA n/m 3.94 0.66
EV/Sales 1.51 1.96 9.02
Earnings yield (7.79%) 8.45% (32.88%)
Free cash flow yield (2.23%) 1.23% (23.13%)

Profitability

Metric ARDX MGTX Biotechnology median
Gross margin 94.46% 97.95% 68.51%
Operating margin (7.71%) 46.30% 0.00%
Net margin (11.85%) 19.87% 0.00%
Free cash flow margin (3.41%) 2.55% 0.00%
Return on equity (34.85%) 72.22% (51.96%)
Return on assets (10.33%) 26.54% (46.06%)
Return on invested capital (17.21%) 66.60% 0.00%

Growth

Metric ARDX MGTX Biotechnology median
Revenue growth (TTM) 17.57% 948.35% 6.76%
EPS growth (last fiscal year) (52.94%) 33.02% 29.88%
Revenue growth, 5-year CAGR 121.90% 39.22% 9.75%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric ARDX MGTX Biotechnology median
Debt to equity 1.54 0.46 0.00
Current ratio 3.45 3.76 4.97
Net debt to EBITDA 1.63 0.18 1.01

Dividend

Metric ARDX MGTX Biotechnology median
Dividend yield — — 0.41%
Payout ratio — — —

Size

Metric ARDX MGTX Biotechnology median
Market cap 751.61m 817.32m 161.82m

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