Butterfly Network, Inc. (BFLY) vs iRhythm Holdings, Inc. (IRTC)

Butterfly Network, Inc. and iRhythm Holdings, Inc. are both Medical Devices companies. iRhythm Holdings, Inc. is the larger, with a market value of $3.6B against $2.1B — 1.7× the size. Butterfly Network, Inc. grew revenue faster over the last twelve months: 28.1% against 25.6%. iRhythm Holdings, Inc. has the higher net margin (−1.69% vs −66.7%) and the higher return on invested capital (−6.32% vs −76.6%). Across the 18 metrics below, iRhythm Holdings, Inc. leads on 14 and Butterfly Network, Inc. on 4.

Valuation

Metric BFLY IRTC Medical Devices median
P/E n/m n/m 23.22
P/S 16.94 4.33 2.34
P/B 10.03 19.22 2.33
Price to free cash flow n/m 91.70 23.72
EV/EBITDA n/m 2,430.57 11.54
EV/Sales 16.31 4.42 2.24
Earnings yield (4.00%) (0.40%) (10.09%)
Free cash flow yield (1.48%) 1.09% (8.47%)

Profitability

Metric BFLY IRTC Medical Devices median
Gross margin 52.64% 71.45% 56.01%
Operating margin (70.79%) (3.01%) (15.03%)
Net margin (66.74%) (1.69%) (20.40%)
Free cash flow margin (25.01%) 4.72% (7.24%)
Return on equity (35.46%) (9.63%) (15.32%)
Return on assets (25.11%) (1.36%) (19.72%)
Return on invested capital (76.64%) (6.32%) (10.33%)

Growth

Metric BFLY IRTC Medical Devices median
Revenue growth (TTM) 28.13% 25.58% 8.80%
EPS growth (last fiscal year) 8.82% 61.71% 29.03%
Revenue growth, 5-year CAGR 16.11% 23.02% 15.47%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric BFLY IRTC Medical Devices median
Debt to equity 0.00 3.50 0.07
Current ratio 4.06 3.86 2.50
Net debt to EBITDA 1.92 (2.12) 0.49

Dividend

Metric BFLY IRTC Medical Devices median
Dividend yield — — 1.16%
Payout ratio — — 0.36

Size

Metric BFLY IRTC Medical Devices median
Market cap 2.13b 3.60b 167.06m

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