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 ($10.8B and $10.4B). Avantor, Inc. has negative trailing earnings, so its P/E is not meaningful; Repligen Corporation trades at 253×. 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 252.91 34.17
P/S 1.57 13.63 2.83
P/B 1.83 5.07 2.82
Price to free cash flow 22.68 175.18 25.69
EV/EBITDA 109.80 65.28 16.08
EV/Sales 2.09 13.39 3.06
Earnings yield (5.51%) 0.40% (1.84%)
Free cash flow yield 4.41% 0.57% 0.17%

Profitability

Metric AVTR RGEN Medical Instruments & Supplies median
Gross margin 31.83% 53.52% 54.62%
Operating margin (4.59%) 8.23% 1.64%
Net margin (8.81%) 5.29% 0.00%
Free cash flow margin 6.93% 14.06% 1.61%
Return on equity (9.70%) 1.99% 0.00%
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% 9.20%
EPS growth (last fiscal year) (175.00%) 286.96% —
Revenue growth, 5-year CAGR 0.49% 15.05% 9.48%
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 0.08
Current ratio 1.78 9.05 2.49
Net debt to EBITDA 20.76 (1.50) 0.83

Dividend

Metric AVTR RGEN Medical Instruments & Supplies median
Dividend yield — — 0.99%
Payout ratio 0.00 0.00 0.00

Size

Metric AVTR RGEN Medical Instruments & Supplies median
Market cap 10.40b 10.76b 938.39m

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