Biogen Inc. (BIIB) vs Sanofi (SNY)

Biogen Inc. and Sanofi are both Drug Manufacturers General companies. Sanofi is the larger, with a market value of $97.4B against $33.5B — 2.9× the size. Sanofi trades at the lower P/E: 21.5× against 40.1×. Sanofi grew revenue faster over the last twelve months: 21.3% against 0.31%. Biogen Inc. has the higher net margin (8.32% vs 8.22%) and the lower return on invested capital (3.11% vs 6.58%). Across the 22 metrics below, Sanofi leads on 19 and Biogen Inc. on 3.

Valuation

Metric BIIB SNY Drug Manufacturers General median
P/E 40.07 21.52 24.72
P/S 3.35 1.73 3.35
P/B 1.78 1.22 5.00
Price to free cash flow 13.23 6.77 17.68
EV/EBITDA 15.37 11.19 13.91
EV/Sales 3.95 2.04 3.95
Earnings yield 2.50% 4.65% 2.92%
Free cash flow yield 7.56% 14.78% 4.42%

Profitability

Metric BIIB SNY Drug Manufacturers General median
Gross margin 73.99% 72.78% 72.77%
Operating margin 12.35% 18.24% 18.90%
Net margin 8.32% 8.22% 8.27%
Free cash flow margin 25.33% 25.53% 17.25%
Return on equity 4.58% 5.87% 6.97%
Return on assets 2.76% 3.21% 2.76%
Return on invested capital 3.11% 6.58% 6.30%

Growth

Metric BIIB SNY Drug Manufacturers General median
Revenue growth (TTM) 0.31% 21.30% 6.79%
EPS growth (last fiscal year) (21.38%) 45.97% —
Revenue growth, 5-year CAGR (5.96%) 4.37% 3.98%
Net income growth, 5-year CAGR (20.22%) (8.87%) 0.42%

Health

Metric BIIB SNY Drug Manufacturers General median
Debt to equity 0.39 0.31 0.63
Current ratio 1.87 0.99 1.32
Net debt to EBITDA 0.84 0.76 1.15

Dividend

Metric BIIB SNY Drug Manufacturers General median
Dividend yield — 4.40% 3.57%
Payout ratio 0.00 0.52 0.53

Size

Metric BIIB SNY Drug Manufacturers General median
Market cap 33.54b 97.44b 125.91b

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