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

BillionToOne, Inc. and RadNet, Inc. are both Diagnostics & Research companies. BillionToOne, Inc. and RadNet, Inc. are of similar size ($5.9B and $5.6B). RadNet, Inc. has negative trailing earnings, so its P/E is not meaningful; BillionToOne, Inc. trades at 119×. BillionToOne, Inc. has the higher net margin (8.35% vs −0.93%) and the higher return on invested capital (34.1% vs 2.24%). Across the 18 metrics below, BillionToOne, Inc. leads on 12 and RadNet, Inc. on 6.

Valuation

Metric BLLN RDNT Diagnostics & Research median
P/E 119.22 n/m 33.95
P/S 14.37 2.43 4.87
P/B 10.64 3.95 3.12
Price to free cash flow 172.16 170.43 34.02
EV/EBITDA 94.49 19.86 25.20
EV/Sales 13.22 2.69 5.66
Earnings yield 0.84% (0.38%) (1.75%)
Free cash flow yield 0.58% 0.59% (0.13%)

Profitability

Metric BLLN RDNT Diagnostics & Research median
Gross margin 71.27% 11.53% 50.89%
Operating margin 10.90% 3.12% (8.57%)
Net margin 8.35% (0.93%) (6.37%)
Free cash flow margin 8.35% 3.28% 0.00%
Return on equity 23.27% (1.64%) (2.92%)
Return on assets 9.09% (0.55%) (6.71%)
Return on invested capital 34.10% 2.24% 0.00%

Growth

Metric BLLN RDNT Diagnostics & Research median
Revenue growth (TTM) — 18.92% 7.69%
EPS growth (last fiscal year) 103.40% (725.00%) —
Revenue growth, 5-year CAGR — 13.74% 7.40%
Net income growth, 5-year CAGR — 0.00% 0.00%

Health

Metric BLLN RDNT Diagnostics & Research median
Debt to equity 0.17 0.94 0.11
Current ratio 11.69 1.48 2.02
Net debt to EBITDA (15.70) 1.16 0.78

Dividend

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

Size

Metric BLLN RDNT Diagnostics & Research median
Market cap 5.89b 5.60b 2.56b

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