Bioventus Inc. (BVS) vs Tandem Diabetes Care, Inc. (TNDM)

Bioventus Inc. and Tandem Diabetes Care, Inc. are both Medical Devices companies. Bioventus Inc. and Tandem Diabetes Care, Inc. are of similar size ($1.1B and $1.1B). Tandem Diabetes Care, Inc. has negative trailing earnings, so its P/E is not meaningful; Bioventus Inc. trades at 17.0×. Tandem Diabetes Care, Inc. grew revenue faster over the last twelve months: 3.96% against 3.14%. Bioventus Inc. has the higher net margin (9.36% vs −6.08%) and the higher return on invested capital (7.34% vs −10.3%). Across the 19 metrics below, Bioventus Inc. leads on 13 and Tandem Diabetes Care, Inc. on 6.

Valuation

Metric BVS TNDM Medical Devices median
P/E 17.05 n/m 22.18
P/S 1.61 1.04 2.70
P/B 3.38 8.32 2.46
Price to free cash flow 9.94 n/m 22.53
EV/EBITDA 11.17 n/m 11.78
EV/Sales 1.99 1.18 2.38
Earnings yield 5.87% (5.92%) (8.22%)
Free cash flow yield 10.06% (8.83%) (7.80%)

Profitability

Metric BVS TNDM Medical Devices median
Gross margin 68.65% 56.01% 56.01%
Operating margin 10.02% (4.40%) (15.03%)
Net margin 9.36% (6.08%) (20.40%)
Free cash flow margin 16.20% (2.56%) (7.24%)
Return on equity 22.75% (48.03%) (15.32%)
Return on assets 7.89% (6.24%) (19.72%)
Return on invested capital 7.34% (10.33%) (10.33%)

Growth

Metric BVS TNDM Medical Devices median
Revenue growth (TTM) 3.14% 3.96% 8.80%
EPS growth (last fiscal year) 163.46% (106.80%) —
Revenue growth, 5-year CAGR 12.08% 15.26% 15.23%
Net income growth, 5-year CAGR 6.73% 0.00% 0.00%

Health

Metric BVS TNDM Medical Devices median
Debt to equity 0.90 4.62 0.07
Current ratio 1.69 3.18 2.50
Net debt to EBITDA 2.40 (0.10) 0.49

Dividend

Metric BVS TNDM Medical Devices median
Dividend yield — — 0.94%
Payout ratio 0.00 0.00 0.00

Size

Metric BVS TNDM Medical Devices median
Market cap 1.13b 1.06b 172.91m

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