BillionToOne, Inc. (BLLN) vs CareDx, Inc. (CDNA)

BillionToOne, Inc. and CareDx, Inc. are both Diagnostics & Research companies. BillionToOne, Inc. is the larger, with a market value of $5.9B against $3.2B — 1.9× the size. CareDx, Inc. trades at the lower P/E: 29.6× against 119×. CareDx, Inc. has the higher net margin (24.2% vs 8.35%) and the higher return on invested capital (130.1% vs 34.1%). Across the 19 metrics below, CareDx, Inc. leads on 15 and BillionToOne, Inc. on 4.

Valuation

Metric BLLN CDNA Diagnostics & Research median
P/E 119.22 29.62 33.95
P/S 14.37 7.15 4.87
P/B 10.64 7.70 3.12
Price to free cash flow 172.16 39.42 34.02
EV/EBITDA 94.49 22.60 25.20
EV/Sales 13.22 6.42 5.66
Earnings yield 0.84% 3.38% (1.75%)
Free cash flow yield 0.58% 2.54% (0.13%)

Profitability

Metric BLLN CDNA Diagnostics & Research median
Gross margin 71.27% 70.58% 50.89%
Operating margin 10.90% 23.61% (8.57%)
Net margin 8.35% 24.23% (6.37%)
Free cash flow margin 8.35% 18.49% 0.00%
Return on equity 23.27% 29.49% (2.92%)
Return on assets 9.09% 22.72% (6.71%)
Return on invested capital 34.10% 130.06% 0.00%

Growth

Metric BLLN CDNA Diagnostics & Research median
Revenue growth (TTM) — 34.41% 7.69%
EPS growth (last fiscal year) 103.40% (143.01%) —
Revenue growth, 5-year CAGR — 14.59% 7.40%
Net income growth, 5-year CAGR — 0.00% 0.00%

Health

Metric BLLN CDNA Diagnostics & Research median
Debt to equity 0.17 0.00 0.11
Current ratio 11.69 4.58 2.02
Net debt to EBITDA (15.70) 19.49 0.78

Dividend

Metric BLLN CDNA Diagnostics & Research median
Dividend yield — — 0.70%
Payout ratio — 0.00 0.00

Size

Metric BLLN CDNA Diagnostics & Research median
Market cap 5.89b 3.18b 2.56b

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