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 $4.9B against $3.6B — 1.4× the size. Veracyte, Inc. trades at the lower P/E: 29.9× against 95.0×. 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 94.98 29.94 35.56
P/S 11.45 6.14 4.37
P/B 8.48 2.48 3.06
Price to free cash flow 137.17 20.78 35.76
EV/EBITDA 73.61 23.93 24.35
EV/Sales 10.30 5.28 5.51
Earnings yield 1.05% 3.34% (1.89%)
Free cash flow yield 0.73% 4.81% (0.15%)

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% 25.92%
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) 0.70

Dividend

Metric BLLN VCYT Diagnostics & Research median
Dividend yield — — 0.66%
Payout ratio — — 0.20

Size

Metric BLLN VCYT Diagnostics & Research median
Market cap 4.85b 3.57b 2.16b

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