Butterfly Network, Inc. (BFLY) vs Haemonetics Corporation (HAE)

Butterfly Network, Inc. and Haemonetics Corporation are both Medical Devices companies. Haemonetics Corporation is the larger, with a market value of $4.8B against $2.6B — 1.9× the size. Butterfly Network, Inc. has negative trailing earnings, so its P/E is not meaningful; Haemonetics Corporation trades at 51.4×. Butterfly Network, Inc. grew revenue faster over the last twelve months: 28.1% against 0.44%. Haemonetics Corporation has the higher net margin (7.12% vs −66.7%) and the higher return on invested capital (5.62% vs −76.6%). Across the 19 metrics below, Haemonetics Corporation leads on 13 and Butterfly Network, Inc. on 6.

Valuation

Metric BFLY HAE Medical Devices median
P/E n/m 51.37 22.18
P/S 21.95 3.53 2.70
P/B 12.99 5.71 2.46
Price to free cash flow n/m 16.33 22.53
EV/EBITDA n/m 20.90 11.78
EV/Sales 21.04 4.23 2.38
Earnings yield (3.09%) 1.95% (8.22%)
Free cash flow yield (1.14%) 6.12% (7.80%)

Profitability

Metric BFLY HAE Medical Devices median
Gross margin 52.64% 59.03% 56.01%
Operating margin (70.79%) 11.86% (15.03%)
Net margin (66.74%) 7.12% (20.40%)
Free cash flow margin (25.01%) 21.64% (7.24%)
Return on equity (35.46%) 11.20% (15.32%)
Return on assets (25.11%) 3.99% (19.72%)
Return on invested capital (76.64%) 5.62% (10.33%)

Growth

Metric BFLY HAE Medical Devices median
Revenue growth (TTM) 28.13% 0.44% 8.80%
EPS growth (last fiscal year) 8.82% (38.07%) —
Revenue growth, 5-year CAGR 9.30% 8.91% 15.23%
Net income growth, 5-year CAGR 0.00% 4.13% 0.00%

Health

Metric BFLY HAE Medical Devices median
Debt to equity 0.00 1.40 0.07
Current ratio 4.06 3.08 2.50
Net debt to EBITDA 1.92 3.55 0.49

Dividend

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

Size

Metric BFLY HAE Medical Devices median
Market cap 2.58b 4.82b 172.91m

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