Butterfly Network, Inc. (BFLY) vs CONMED Corporation (CNMD)

Butterfly Network, Inc. and CONMED Corporation are both Medical Devices companies. Butterfly Network, Inc. and CONMED Corporation are of similar size ($1.6B and $1.6B). Butterfly Network, Inc. has negative trailing earnings, so its P/E is not meaningful; CONMED Corporation trades at 21.7×. Butterfly Network, Inc. grew revenue faster over the last twelve months: 39.4% against 1.62%. CONMED Corporation has the higher net margin (5.36% vs −43.6%) and the higher return on invested capital (4.64% vs −58.2%). Across the 19 metrics below, CONMED Corporation leads on 12 and Butterfly Network, Inc. on 7.

Valuation

Metric BFLY CNMD Medical Devices median
P/E n/m 21.71 25.58
P/S 13.10 1.15 2.54
P/B 8.76 1.48 2.48
Price to free cash flow n/m 11.86 28.81
EV/EBITDA n/m 10.84 11.51
EV/Sales 12.55 1.71 2.72
Earnings yield (3.47%) 4.61% (12.82%)
Free cash flow yield (1.71%) 8.43% (8.18%)

Profitability

Metric BFLY CNMD Medical Devices median
Gross margin 70.26% 57.57% 57.76%
Operating margin (46.92%) 9.90% (15.07%)
Net margin (43.56%) 5.36% (14.45%)
Free cash flow margin (22.35%) 9.69% (3.88%)
Return on equity (27.65%) 7.10% (10.35%)
Return on assets (18.58%) 3.17% (17.26%)
Return on invested capital (58.16%) 4.64% (5.27%)

Growth

Metric BFLY CNMD Medical Devices median
Revenue growth (TTM) 39.35% 1.62% 10.41%
EPS growth (last fiscal year) 8.82% (64.47%) 28.17%
Revenue growth, 5-year CAGR 16.11% 9.77% 15.74%
Net income growth, 5-year CAGR 0.00% 37.66% 0.00%

Health

Metric BFLY CNMD Medical Devices median
Debt to equity 0.00 0.77 0.04
Current ratio 3.58 1.49 2.74
Net debt to EBITDA 1.92 4.35 0.54

Dividend

Metric BFLY CNMD Medical Devices median
Dividend yield — 0.00% 1.02%
Payout ratio — 0.00 0.37

Size

Metric BFLY CNMD Medical Devices median
Market cap 1.62b 1.57b 239.53m

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