argenex SE (ARGX) vs Moderna, Inc. (MRNA)

argenex SE and Moderna, Inc. are both Biotechnology companies. Moderna, Inc. is the larger, with a market value of $78.8B against $60.2B — 1.3× the size. Moderna, Inc. has negative trailing earnings, so its P/E is not meaningful; argenex SE trades at 34.6×. argenex SE grew revenue faster over the last twelve months: 70.6% against −27.6%. argenex SE has the higher net margin (32.2% vs −141.4%) and the higher return on invested capital (20.7% vs −93.5%). Across the 18 metrics below, argenex SE leads on 18 and Moderna, Inc. on 0.

Valuation

Metric ARGX MRNA Biotechnology median
P/E 34.61 n/m 7.88
P/S 11.22 35.53 11.47
P/B 7.10 11.71 2.52
Price to free cash flow 43.37 n/m 21.16
EV/EBITDA 35.09 n/m 0.74
EV/Sales 10.55 33.49 10.73
Earnings yield 2.89% (4.02%) (28.84%)
Free cash flow yield 2.31% (1.57%) (23.03%)

Profitability

Metric ARGX MRNA Biotechnology median
Gross margin 90.15% 23.38% 65.16%
Operating margin 30.06% (149.01%) 0.00%
Net margin 32.20% (141.43%) 0.00%
Free cash flow margin 25.87% (55.83%) 0.00%
Return on equity 27.07% (39.00%) (57.72%)
Return on assets 19.95% (27.43%) (49.22%)
Return on invested capital 20.71% (93.47%) 0.00%

Growth

Metric ARGX MRNA Biotechnology median
Revenue growth (TTM) 70.58% (27.62%) 5.64%
EPS growth (last fiscal year) 53.13% 21.77% —
Revenue growth, 5-year CAGR 130.77% 19.34% 8.40%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric ARGX MRNA Biotechnology median
Debt to equity 0.00 0.09 0.00
Current ratio 5.12 2.29 4.73
Net debt to EBITDA (3.23) 1.77 0.96

Dividend

Metric ARGX MRNA Biotechnology median
Dividend yield — — 2.10%
Payout ratio 0.00 0.00 0.00

Size

Metric ARGX MRNA Biotechnology median
Market cap 60.20b 78.77b 162.10m

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