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 $5.3B against $4.0B — 1.3× the size. CareDx, Inc. trades at the lower P/E: 30.9× against 88.7×. BillionToOne, Inc. grew revenue faster over the last twelve months: 76.5% against 38.9%. CareDx, Inc. has the higher net margin (25.9% vs 11.2%) and the higher return on invested capital (33.6% vs 0.00%). Across the 19 metrics below, CareDx, Inc. leads on 14 and BillionToOne, Inc. on 5.

Valuation

Metric BLLN CDNA Diagnostics & Research median
P/E 88.69 30.91 34.52
P/S 12.11 8.06 4.24
P/B 9.86 8.58 3.42
Price to free cash flow 156.11 68.93 33.51
EV/EBITDA 86.69 26.62 23.44
EV/Sales 11.03 7.57 5.18
Earnings yield 1.13% 3.24% (1.50%)
Free cash flow yield 0.64% 1.45% 0.00%

Profitability

Metric BLLN CDNA Diagnostics & Research median
Gross margin 71.41% 70.97% 48.32%
Operating margin 10.23% 23.42% (5.68%)
Net margin 11.23% 25.86% (4.10%)
Free cash flow margin 7.76% 12.01% 0.00%
Return on equity 0.00% 33.04% 0.00%
Return on assets 9.02% 23.96% (6.05%)
Return on invested capital 0.00% 33.56% 0.00%

Growth

Metric BLLN CDNA Diagnostics & Research median
Revenue growth (TTM) 76.53% 38.94% 8.99%
EPS growth (last fiscal year) 103.40% (143.01%) 20.36%
Revenue growth, 5-year CAGR — 14.59% 7.30%
Net income growth, 5-year CAGR — 0.00% 0.00%

Health

Metric BLLN CDNA Diagnostics & Research median
Debt to equity 0.00 0.00 0.01
Current ratio 11.25 2.31 2.27
Net debt to EBITDA (15.70) 19.49 0.68

Dividend

Metric BLLN CDNA Diagnostics & Research median
Dividend yield — — 0.67%
Payout ratio — — 0.20

Size

Metric BLLN CDNA Diagnostics & Research median
Market cap 5.30b 4.01b 2.22b

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