Axsome Therapeutics, Inc. (AXSM) vs Protagonist Therapeutics, Inc. (PTGX)

Axsome Therapeutics, Inc. and Protagonist Therapeutics, Inc. are both Biotechnology companies. Axsome Therapeutics, Inc. and Protagonist Therapeutics, Inc. are of similar size ($8.8B and $8.5B). Axsome Therapeutics, Inc. has negative trailing earnings, so its P/E is not meaningful; Protagonist Therapeutics, Inc. trades at 106×. Axsome Therapeutics, Inc. grew revenue faster over the last twelve months: 56.9% against 34.8%. Protagonist Therapeutics, Inc. has the higher net margin (29.4% vs −24.7%) and the higher return on invested capital (61.8% vs 0.00%). Across the 17 metrics below, Protagonist Therapeutics, Inc. leads on 12 and Axsome Therapeutics, Inc. on 5.

Valuation

Metric AXSM PTGX Biotechnology median
P/E n/m 105.53 8.50
P/S 10.48 30.10 9.71
P/B 97.71 10.09 2.13
Price to free cash flow n/m 65.01 20.82
EV/EBITDA n/m 136.87 0.64
EV/Sales 10.23 27.36 9.21
Earnings yield (2.39%) 0.95% (33.15%)
Free cash flow yield (0.88%) 1.54% (25.50%)

Profitability

Metric AXSM PTGX Biotechnology median
Gross margin 93.24% 100.00% 65.16%
Operating margin (23.96%) 20.69% 0.00%
Net margin (24.68%) 29.40% 0.00%
Free cash flow margin (9.27%) 46.31% 0.00%
Return on equity (245.10%) 10.98% (56.36%)
Return on assets (27.35%) 10.34% (48.04%)
Return on invested capital 0.00% 61.84% 0.00%

Growth

Metric AXSM PTGX Biotechnology median
Revenue growth (TTM) 56.87% 34.81% 6.02%
EPS growth (last fiscal year) 38.56% (148.46%) 30.26%
Revenue growth, 5-year CAGR — 9.96% 9.41%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric AXSM PTGX Biotechnology median
Debt to equity 1.52 0.00 0.00
Current ratio 1.43 21.71 4.72
Net debt to EBITDA 1.29 3.49 0.96

Dividend

Metric AXSM PTGX Biotechnology median
Dividend yield — — 0.09%
Payout ratio — — —

Size

Metric AXSM PTGX Biotechnology median
Market cap 8.47b 8.84b 135.18m

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