BillionToOne, Inc. (BLLN) vs QIAGEN N.V. (QGEN)

BillionToOne, Inc. and QIAGEN N.V. are both Diagnostics & Research companies. QIAGEN N.V. is the larger, with a market value of $9.5B against $4.9B — 2.0× the size. QIAGEN N.V. trades at the lower P/E: 23.6× against 95.0×. QIAGEN N.V. has the higher net margin (19.5% vs 8.35%) and the lower return on invested capital (6.62% vs 34.1%). Across the 19 metrics below, QIAGEN N.V. leads on 12 and BillionToOne, Inc. on 7.

Valuation

Metric BLLN QGEN Diagnostics & Research median
P/E 94.98 23.64 35.56
P/S 11.45 4.53 4.37
P/B 8.48 2.83 3.06
Price to free cash flow 137.17 21.60 35.76
EV/EBITDA 73.61 15.93 24.35
EV/Sales 10.30 4.94 5.51
Earnings yield 1.05% 4.23% (1.89%)
Free cash flow yield 0.73% 4.63% (0.15%)

Profitability

Metric BLLN QGEN Diagnostics & Research median
Gross margin 71.27% 62.20% 50.89%
Operating margin 10.90% 21.21% (8.57%)
Net margin 8.35% 19.49% (6.37%)
Free cash flow margin 8.35% 20.98% 0.00%
Return on equity 23.27% 11.93% (2.92%)
Return on assets 9.09% 6.99% (6.71%)
Return on invested capital 34.10% 6.62% 0.00%

Growth

Metric BLLN QGEN Diagnostics & Research median
Revenue growth (TTM) — 2.96% 7.69%
EPS growth (last fiscal year) 103.40% 398.07% 25.92%
Revenue growth, 5-year CAGR — 2.25% 7.40%
Net income growth, 5-year CAGR — 3.42% 0.00%

Health

Metric BLLN QGEN Diagnostics & Research median
Debt to equity 0.17 0.49 0.11
Current ratio 11.69 2.85 2.02
Net debt to EBITDA (15.70) 0.84 0.70

Dividend

Metric BLLN QGEN Diagnostics & Research median
Dividend yield — 0.76% 0.66%
Payout ratio — 0.18 0.20

Size

Metric BLLN QGEN Diagnostics & Research median
Market cap 4.85b 9.51b 2.16b

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