Beta Bionics, Inc. (BBNX) vs CONMED Corporation (CNMD)

Beta Bionics, Inc. and CONMED Corporation are both Medical Devices companies. CONMED Corporation is the larger, with a market value of $1.4B against $1.2B — 1.2× the size. Beta Bionics, Inc. has negative trailing earnings, so its P/E is not meaningful; CONMED Corporation trades at 24.5×. Beta Bionics, Inc. grew revenue faster over the last twelve months: 52.5% against 3.42%. CONMED Corporation has the higher net margin (4.12% vs −61.3%) and the higher return on invested capital (3.75% vs −68.5%). Across the 17 metrics below, CONMED Corporation leads on 11 and Beta Bionics, Inc. on 6.

Valuation

Metric BBNX CNMD Medical Devices median
P/E n/m 24.53 22.18
P/S 8.05 0.99 2.70
P/B 3.74 1.31 2.46
Price to free cash flow n/m 10.15 22.53
EV/EBITDA n/m 11.33 11.78
EV/Sales 6.53 1.58 2.38
Earnings yield (7.67%) 4.08% (8.22%)
Free cash flow yield (35.29%) 9.85% (7.80%)

Profitability

Metric BBNX CNMD Medical Devices median
Gross margin 58.31% 55.79% 56.01%
Operating margin (69.75%) 8.04% (15.03%)
Net margin (61.32%) 4.12% (20.40%)
Free cash flow margin (284.13%) 9.80% (7.24%)
Return on equity (26.16%) 5.53% (15.32%)
Return on assets (23.45%) 2.44% (19.72%)
Return on invested capital (68.47%) 3.75% (10.33%)

Growth

Metric BBNX CNMD Medical Devices median
Revenue growth (TTM) 52.54% 3.42% 8.80%
EPS growth (last fiscal year) 78.95% (64.47%) —
Revenue growth, 5-year CAGR — 9.77% 15.23%
Net income growth, 5-year CAGR — 37.66% 0.00%

Health

Metric BBNX CNMD Medical Devices median
Debt to equity 0.00 0.80 0.07
Current ratio 8.88 1.48 2.50
Net debt to EBITDA 3.19 4.35 0.49

Dividend

Metric BBNX CNMD Medical Devices median
Dividend yield — 0.95% 0.94%
Payout ratio — 0.27 0.00

Size

Metric BBNX CNMD Medical Devices median
Market cap 1.17b 1.35b 172.91m

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