Arvinas, Inc. (ARVN) vs Phathom Pharmaceuticals, Inc. (PHAT)

Arvinas, Inc. and Phathom Pharmaceuticals, Inc. are both Biotechnology companies. Arvinas, Inc. is the larger, with a market value of $513.9M against $466.6M — 1.1× the size. Phathom Pharmaceuticals, Inc. has negative trailing earnings, so its P/E is not meaningful; Arvinas, Inc. trades at 41.0×. Phathom Pharmaceuticals, Inc. grew revenue faster over the last twelve months: 110.2% against −15.1%. Arvinas, Inc. has the higher net margin (2.94% vs −41.3%) and the higher return on invested capital (0.00% vs 0.00%). Across the 15 metrics below, Arvinas, Inc. leads on 9 and Phathom Pharmaceuticals, Inc. on 6.

Valuation

Metric ARVN PHAT Biotechnology median
P/E 41.04 n/m 12.43
P/S 1.61 2.01 10.53
P/B 0.91 n/m 2.24
Price to free cash flow n/m n/m 22.59
EV/EBITDA 3.19 n/m 0.69
EV/Sales (0.18) 1.97 9.92
Earnings yield 2.44% (22.30%) (34.94%)
Free cash flow yield (41.00%) (7.68%) (23.17%)

Profitability

Metric ARVN PHAT Biotechnology median
Gross margin 97.16% 82.92% 68.94%
Operating margin (5.72%) (16.96%) 0.00%
Net margin 2.94% (41.34%) 0.00%
Free cash flow margin (65.93%) (15.40%) 0.00%
Return on equity 1.59% 26.42% (54.09%)
Return on assets 1.17% (34.32%) (46.84%)
Return on invested capital 0.00% 0.00% 0.00%

Growth

Metric ARVN PHAT Biotechnology median
Revenue growth (TTM) (15.05%) 110.16% 6.72%
EPS growth (last fiscal year) 58.84% 42.72% 29.36%
Revenue growth, 5-year CAGR 58.93% — 9.96%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric ARVN PHAT Biotechnology median
Debt to equity 0.00 (0.48) 0.00
Current ratio 7.91 1.92 5.00
Net debt to EBITDA 5.62 (0.51) 1.01

Dividend

Metric ARVN PHAT Biotechnology median
Dividend yield — — 0.40%
Payout ratio — — —

Size

Metric ARVN PHAT Biotechnology median
Market cap 513.94m 466.61m 177.44m

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