Butterfly Network, Inc. (BFLY) vs Establishment Labs Holdings Inc. (ESTA)

Butterfly Network, Inc. and Establishment Labs Holdings Inc. are both Medical Devices companies. Butterfly Network, Inc. is the larger, with a market value of $2.6B against $2.0B — 1.3× the size. Establishment Labs Holdings Inc. grew revenue faster over the last twelve months: 38.6% against 28.1%. Establishment Labs Holdings Inc. has the higher net margin (−15.8% vs −66.7%) and the higher return on invested capital (−5.53% vs −76.6%). Across the 18 metrics below, Establishment Labs Holdings Inc. leads on 13 and Butterfly Network, Inc. on 5.

Valuation

Metric BFLY ESTA Medical Devices median
P/E n/m n/m 22.18
P/S 21.95 8.08 2.70
P/B 12.99 91.97 2.46
Price to free cash flow n/m n/m 22.53
EV/EBITDA n/m n/m 11.78
EV/Sales 21.04 8.86 2.38
Earnings yield (3.09%) (1.99%) (8.22%)
Free cash flow yield (1.14%) (2.09%) (7.80%)

Profitability

Metric BFLY ESTA Medical Devices median
Gross margin 52.64% 70.49% 56.01%
Operating margin (70.79%) (7.63%) (15.03%)
Net margin (66.74%) (15.82%) (20.40%)
Free cash flow margin (25.01%) (16.90%) (7.24%)
Return on equity (35.46%) (175.30%) (15.32%)
Return on assets (25.11%) (11.41%) (19.72%)
Return on invested capital (76.64%) (5.53%) (10.33%)

Growth

Metric BFLY ESTA Medical Devices median
Revenue growth (TTM) 28.13% 38.55% 8.80%
EPS growth (last fiscal year) 8.82% 42.67% —
Revenue growth, 5-year CAGR 9.30% 20.04% 15.23%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric BFLY ESTA Medical Devices median
Debt to equity 0.00 12.11 0.07
Current ratio 4.06 3.84 2.50
Net debt to EBITDA 1.92 (6.03) 0.49

Dividend

Metric BFLY ESTA Medical Devices median
Dividend yield — — 0.94%
Payout ratio 0.00 0.00 0.00

Size

Metric BFLY ESTA Medical Devices median
Market cap 2.58b 1.95b 172.91m

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