Butterfly Network, Inc. (BFLY) vs LivaNova PLC (LIVN)

Butterfly Network, Inc. and LivaNova PLC are both Medical Devices companies. LivaNova PLC is the larger, with a market value of $4.2B against $2.6B — 1.6× the size. Butterfly Network, Inc. has negative trailing earnings, so its P/E is not meaningful; LivaNova PLC trades at 22.2×. Butterfly Network, Inc. grew revenue faster over the last twelve months: 28.1% against 12.4%. LivaNova PLC has the higher net margin (12.8% vs −66.7%) and the higher return on invested capital (10.6% vs −76.6%). Across the 18 metrics below, LivaNova PLC leads on 13 and Butterfly Network, Inc. on 5.

Valuation

Metric BFLY LIVN Medical Devices median
P/E n/m 22.18 22.18
P/S 21.95 2.86 2.70
P/B 12.99 3.17 2.46
Price to free cash flow n/m 27.63 22.53
EV/EBITDA n/m 14.61 11.78
EV/Sales 21.04 2.71 2.38
Earnings yield (3.09%) 4.51% (8.22%)
Free cash flow yield (1.14%) 3.62% (7.80%)

Profitability

Metric BFLY LIVN Medical Devices median
Gross margin 52.64% 68.10% 56.01%
Operating margin (70.79%) 12.74% (15.03%)
Net margin (66.74%) 12.81% (20.40%)
Free cash flow margin (25.01%) 10.57% (7.24%)
Return on equity (35.46%) 15.40% (15.32%)
Return on assets (25.11%) 7.33% (19.72%)
Return on invested capital (76.64%) 10.63% (10.33%)

Growth

Metric BFLY LIVN Medical Devices median
Revenue growth (TTM) 28.13% 12.39% 8.80%
EPS growth (last fiscal year) 8.82% (483.62%) —
Revenue growth, 5-year CAGR 9.30% 8.24% 15.23%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric BFLY LIVN Medical Devices median
Debt to equity 0.00 0.22 0.07
Current ratio 4.06 1.45 2.50
Net debt to EBITDA 1.92 (0.92) 0.49

Dividend

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

Size

Metric BFLY LIVN Medical Devices median
Market cap 2.58b 4.16b 172.91m

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