Bausch + Lomb Corporation (BLCO) vs Stevanato Group S.p.A. (STVN)

Bausch + Lomb Corporation and Stevanato Group S.p.A. are both Medical Instruments & Supplies companies. Bausch + Lomb Corporation and Stevanato Group S.p.A. are of similar size ($6.0B and $5.8B). Bausch + Lomb Corporation has negative trailing earnings, so its P/E is not meaningful; Stevanato Group S.p.A. trades at 37.7×. Stevanato Group S.p.A. grew revenue faster over the last twelve months: 14.3% against 8.85%. Stevanato Group S.p.A. has the higher net margin (11.0% vs −3.21%) and the higher return on invested capital (6.56% vs 1.81%). Across the 20 metrics below, Stevanato Group S.p.A. leads on 13 and Bausch + Lomb Corporation on 7.

Valuation

Metric BLCO STVN Medical Instruments & Supplies median
P/E n/m 37.73 34.17
P/S 1.13 4.05 2.83
P/B 0.94 3.20 2.82
Price to free cash flow 53.95 n/m 25.69
EV/EBITDA 14.39 18.11 16.08
EV/Sales 2.02 4.34 3.06
Earnings yield (2.84%) 2.65% (1.84%)
Free cash flow yield 1.85% (0.60%) 0.17%

Profitability

Metric BLCO STVN Medical Instruments & Supplies median
Gross margin 61.44% 29.13% 54.62%
Operating margin 6.07% 16.29% 1.64%
Net margin (3.21%) 10.95% 0.00%
Free cash flow margin 2.57% (2.43%) 1.61%
Return on equity (2.64%) 9.21% 0.00%
Return on assets (1.24%) 5.46% 0.00%
Return on invested capital 1.81% 6.56% 0.00%

Growth

Metric BLCO STVN Medical Instruments & Supplies median
Revenue growth (TTM) 8.85% 14.28% 9.20%
EPS growth (last fiscal year) (13.33%) 23.40% —
Revenue growth, 5-year CAGR 8.38% 12.16% 9.48%
Net income growth, 5-year CAGR 0.00% 12.02% 0.00%

Health

Metric BLCO STVN Medical Instruments & Supplies median
Debt to equity 0.79 0.29 0.08
Current ratio 1.55 1.61 2.49
Net debt to EBITDA 8.49 1.15 0.83

Dividend

Metric BLCO STVN Medical Instruments & Supplies median
Dividend yield — 0.07% 0.99%
Payout ratio — 0.10 0.00

Size

Metric BLCO STVN Medical Instruments & Supplies median
Market cap 6.00b 5.84b 938.39m

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