CareDx, Inc. (CDNA) vs Personalis, Inc. (PSNL)

CareDx, Inc. and Personalis, Inc. are both Diagnostics & Research companies. CareDx, Inc. is the larger, with a market value of $3.2B against $1.8B — 1.8× the size. Personalis, Inc. has negative trailing earnings, so its P/E is not meaningful; CareDx, Inc. trades at 29.6×. CareDx, Inc. grew revenue faster over the last twelve months: 34.4% against −13.3%. CareDx, Inc. has the higher net margin (24.2% vs −153.8%) and the higher return on invested capital (130.1% vs −317.5%). Across the 17 metrics below, CareDx, Inc. leads on 13 and Personalis, Inc. on 4.

Valuation

Metric CDNA PSNL Diagnostics & Research median
P/E 29.62 n/m 33.95
P/S 7.15 24.91 4.87
P/B 7.70 7.38 3.12
Price to free cash flow 39.42 n/m 34.02
EV/EBITDA 22.60 n/m 25.20
EV/Sales 6.42 22.42 5.66
Earnings yield 3.38% (6.62%) (1.75%)
Free cash flow yield 2.54% (5.81%) (0.13%)

Profitability

Metric CDNA PSNL Diagnostics & Research median
Gross margin 70.58% 12.69% 50.89%
Operating margin 23.61% (164.07%) (8.57%)
Net margin 24.23% (153.84%) (6.37%)
Free cash flow margin 18.49% (144.76%) 0.00%
Return on equity 29.49% (50.32%) (2.92%)
Return on assets 22.72% (37.55%) (6.71%)
Return on invested capital 130.06% (317.48%) 0.00%

Growth

Metric CDNA PSNL Diagnostics & Research median
Revenue growth (TTM) 34.41% (13.26%) 7.69%
EPS growth (last fiscal year) (143.01%) 33.58% —
Revenue growth, 5-year CAGR 14.59% (2.40%) 7.40%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric CDNA PSNL Diagnostics & Research median
Debt to equity 0.00 0.00 0.11
Current ratio 4.58 5.28 2.02
Net debt to EBITDA 19.49 2.93 0.78

Dividend

Metric CDNA PSNL Diagnostics & Research median
Dividend yield — — 0.70%
Payout ratio 0.00 0.00 0.00

Size

Metric CDNA PSNL Diagnostics & Research median
Market cap 3.18b 1.77b 2.56b

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