Avantor, Inc. (AVTR) vs Repligen Corporation (RGEN)

Avantor, Inc. and Repligen Corporation are both Medical Instruments & Supplies companies. Avantor, Inc. and Repligen Corporation are of similar size ($11.7B and $10.9B). Avantor, Inc. has negative trailing earnings, so its P/E is not meaningful; Repligen Corporation trades at 234×. Repligen Corporation grew revenue faster over the last twelve months: 16.5% against −1.57%. Repligen Corporation has the higher net margin (5.29% vs −8.81%) and the higher return on invested capital (2.18% vs −2.09%). Across the 21 metrics below, Repligen Corporation leads on 15 and Avantor, Inc. on 6.

Valuation

Metric AVTR RGEN Medical Instruments & Supplies median
P/E n/m 233.60 33.75
P/S 1.69 12.59 2.52
P/B 1.97 4.68 2.48
Price to free cash flow 24.42 161.81 25.19
EV/EBITDA 116.14 60.20 14.62
EV/Sales 2.21 12.35 2.88
Earnings yield (5.12%) 0.43% (2.67%)
Free cash flow yield 4.10% 0.62% 0.09%

Profitability

Metric AVTR RGEN Medical Instruments & Supplies median
Gross margin 31.83% 53.52% 54.29%
Operating margin (4.59%) 8.23% 1.07%
Net margin (8.81%) 5.29% (1.61%)
Free cash flow margin 6.93% 14.06% 1.08%
Return on equity (9.70%) 1.99% (1.32%)
Return on assets (4.74%) 1.42% 0.00%
Return on invested capital (2.09%) 2.18% 0.00%

Growth

Metric AVTR RGEN Medical Instruments & Supplies median
Revenue growth (TTM) (1.57%) 16.49% 8.85%
EPS growth (last fiscal year) (175.00%) 286.96% 8.65%
Revenue growth, 5-year CAGR 0.49% 15.05% 9.17%
Net income growth, 5-year CAGR 0.00% (3.99%) 0.00%

Health

Metric AVTR RGEN Medical Instruments & Supplies median
Debt to equity 0.66 0.26 0.10
Current ratio 1.78 9.05 2.48
Net debt to EBITDA 20.76 (1.50) 0.89

Dividend

Metric AVTR RGEN Medical Instruments & Supplies median
Dividend yield — — 1.11%
Payout ratio — — 0.27

Size

Metric AVTR RGEN Medical Instruments & Supplies median
Market cap 10.88b 11.69b 619.84m

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