BillionToOne, Inc. (BLLN) vs Veracyte, Inc. (VCYT)

BillionToOne, Inc. and Veracyte, Inc. are both Diagnostics & Research companies. BillionToOne, Inc. is the larger, with a market value of $5.9B against $3.9B — 1.5× the size. Veracyte, Inc. trades at the lower P/E: 31.5× against 119×. Veracyte, Inc. has the higher net margin (20.4% vs 8.35%) and the lower return on invested capital (7.32% vs 34.1%). Across the 19 metrics below, Veracyte, Inc. leads on 14 and BillionToOne, Inc. on 5.

Valuation

Metric BLLN VCYT Diagnostics & Research median
P/E 119.22 31.55 33.95
P/S 14.37 6.47 4.87
P/B 10.64 2.62 3.12
Price to free cash flow 172.16 21.89 34.02
EV/EBITDA 94.49 25.52 25.20
EV/Sales 13.22 5.63 5.66
Earnings yield 0.84% 3.17% (1.75%)
Free cash flow yield 0.58% 4.57% (0.13%)

Profitability

Metric BLLN VCYT Diagnostics & Research median
Gross margin 71.27% 71.71% 50.89%
Operating margin 10.90% 18.82% (8.57%)
Net margin 8.35% 20.37% (6.37%)
Free cash flow margin 8.35% 29.54% 0.00%
Return on equity 23.27% 8.77% (2.92%)
Return on assets 9.09% 8.09% (6.71%)
Return on invested capital 34.10% 7.32% 0.00%

Growth

Metric BLLN VCYT Diagnostics & Research median
Revenue growth (TTM) — 17.28% 7.69%
EPS growth (last fiscal year) 103.40% 164.52% —
Revenue growth, 5-year CAGR — 34.50% 7.40%
Net income growth, 5-year CAGR — 0.00% 0.00%

Health

Metric BLLN VCYT Diagnostics & Research median
Debt to equity 0.17 0.00 0.11
Current ratio 11.69 9.16 2.02
Net debt to EBITDA (15.70) (5.44) 0.78

Dividend

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

Size

Metric BLLN VCYT Diagnostics & Research median
Market cap 5.89b 3.91b 2.56b

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