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 $9.3B against $5.9B — 1.6× the size. QIAGEN N.V. trades at the lower P/E: 22.6× against 119×. 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 119.22 22.64 33.95
P/S 14.37 4.34 4.87
P/B 10.64 2.72 3.12
Price to free cash flow 172.16 20.69 34.02
EV/EBITDA 94.49 15.31 25.20
EV/Sales 13.22 4.75 5.66
Earnings yield 0.84% 4.42% (1.75%)
Free cash flow yield 0.58% 4.83% (0.13%)

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% —
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 0.78

Dividend

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

Size

Metric BLLN QGEN Diagnostics & Research median
Market cap 5.89b 9.26b 2.56b

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