Bio-Rad Laboratories, Inc. (BIO.B) vs Glaukos Corporation (GKOS)

Bio-Rad Laboratories, Inc. and Glaukos Corporation are both Medical Devices companies. Glaukos Corporation is the larger, with a market value of $13.0B against $10.3B — 1.3× the size. Glaukos Corporation has negative trailing earnings, so its P/E is not meaningful; Bio-Rad Laboratories, Inc. trades at 9.9×. Glaukos Corporation grew revenue faster over the last twelve months: 46.9% against 1.38%. Bio-Rad Laboratories, Inc. has the higher net margin (39.5% vs −24.6%) and the higher return on invested capital (−0.44% vs −24.6%). Across the 20 metrics below, Bio-Rad Laboratories, Inc. leads on 14 and Glaukos Corporation on 6.

Valuation

Metric BIO.B GKOS Medical Devices median
P/E 9.95 n/m 25.58
P/S 3.92 18.79 2.54
P/B 1.34 18.08 2.48
Price to free cash flow 30.74 360.06 28.81
EV/EBITDA n/m n/m 11.51
EV/Sales 3.76 18.80 2.72
Earnings yield 10.06% (1.34%) (12.82%)
Free cash flow yield 3.25% 0.28% (8.18%)

Profitability

Metric BIO.B GKOS Medical Devices median
Gross margin 51.26% 81.13% 57.76%
Operating margin (2.39%) (25.52%) (15.07%)
Net margin 39.45% (24.60%) (14.45%)
Free cash flow margin 18.05% 5.22% (3.88%)
Return on equity 14.27% (22.84%) (10.35%)
Return on assets 9.99% (17.16%) (17.26%)
Return on invested capital (0.44%) (24.60%) (5.27%)

Growth

Metric BIO.B GKOS Medical Devices median
Revenue growth (TTM) 1.38% 46.94% 10.41%
EPS growth (last fiscal year) 142.61% (18.41%) 28.17%
Revenue growth, 5-year CAGR 0.29% 17.67% 15.74%
Net income growth, 5-year CAGR (27.58%) 0.00% 0.00%

Health

Metric BIO.B GKOS Medical Devices median
Debt to equity 0.16 0.09 0.04
Current ratio 3.18 4.57 2.74
Net debt to EBITDA (7.15) 1.31 0.54

Dividend

Metric BIO.B GKOS Medical Devices median
Dividend yield — — 1.02%
Payout ratio — — 0.37

Size

Metric BIO.B GKOS Medical Devices median
Market cap 10.33b 13.02b 239.53m

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