BillionToOne, Inc. (BLLN) vs RadNet, Inc. (RDNT)

BillionToOne, Inc. and RadNet, Inc. are both Diagnostics & Research companies. RadNet, Inc. is the larger, with a market value of $6.1B against $5.3B — 1.2× the size. RadNet, Inc. has negative trailing earnings, so its P/E is not meaningful; BillionToOne, Inc. trades at 88.7×. BillionToOne, Inc. grew revenue faster over the last twelve months: 76.5% against 18.9%. BillionToOne, Inc. has the higher net margin (11.2% vs −0.93%) and the lower return on invested capital (0.00% vs 2.24%). Across the 19 metrics below, BillionToOne, Inc. leads on 14 and RadNet, Inc. on 5.

Valuation

Metric BLLN RDNT Diagnostics & Research median
P/E 88.69 n/m 34.52
P/S 12.11 2.69 4.24
P/B 9.86 4.38 3.42
Price to free cash flow 156.11 188.87 33.51
EV/EBITDA 86.69 21.80 23.44
EV/Sales 11.03 2.96 5.18
Earnings yield 1.13% (0.34%) (1.50%)
Free cash flow yield 0.64% 0.53% 0.00%

Profitability

Metric BLLN RDNT Diagnostics & Research median
Gross margin 71.41% 11.53% 48.32%
Operating margin 10.23% 3.12% (5.68%)
Net margin 11.23% (0.93%) (4.10%)
Free cash flow margin 7.76% 3.28% 0.00%
Return on equity 0.00% (1.64%) 0.00%
Return on assets 9.02% (0.55%) (6.05%)
Return on invested capital 0.00% 2.24% 0.00%

Growth

Metric BLLN RDNT Diagnostics & Research median
Revenue growth (TTM) 76.53% 18.92% 8.99%
EPS growth (last fiscal year) 103.40% (725.00%) 20.36%
Revenue growth, 5-year CAGR — 13.74% 7.30%
Net income growth, 5-year CAGR — 0.00% 0.00%

Health

Metric BLLN RDNT Diagnostics & Research median
Debt to equity 0.00 0.94 0.01
Current ratio 11.25 1.48 2.27
Net debt to EBITDA (15.70) 1.16 0.68

Dividend

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

Size

Metric BLLN RDNT Diagnostics & Research median
Market cap 5.30b 6.14b 2.22b

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