Cerus Corporation (CERS) vs Delcath Systems, Inc. (DCTH)

Cerus Corporation and Delcath Systems, Inc. are both Medical Devices companies. Cerus Corporation and Delcath Systems, Inc. are of similar size ($558.0M and $524.0M). Cerus Corporation has negative trailing earnings, so its P/E is not meaningful; Delcath Systems, Inc. trades at 1,560×. Delcath Systems, Inc. grew revenue faster over the last twelve months: 35.9% against 14.6%. Delcath Systems, Inc. has the higher net margin (0.56% vs −2.73%) and the lower return on invested capital (−4.49% vs −1.27%). Across the 18 metrics below, Delcath Systems, Inc. leads on 13 and Cerus Corporation on 5.

Valuation

Metric CERS DCTH Medical Devices median
P/E n/m 1,560.00 22.18
P/S 2.12 5.87 2.70
P/B 7.43 4.62 2.46
Price to free cash flow n/m 31.98 22.53
EV/EBITDA 8,092.91 n/m 11.78
EV/Sales 2.15 4.88 2.38
Earnings yield (1.34%) 0.06% (8.22%)
Free cash flow yield (0.35%) 3.13% (7.80%)

Profitability

Metric CERS DCTH Medical Devices median
Gross margin 57.16% 87.05% 56.01%
Operating margin (0.65%) (1.90%) (15.03%)
Net margin (2.73%) 0.56% (20.40%)
Free cash flow margin (0.74%) 18.35% (7.24%)
Return on equity (10.69%) 0.47% (15.32%)
Return on assets (3.24%) 0.42% (19.72%)
Return on invested capital (1.27%) (4.49%) (10.33%)

Growth

Metric CERS DCTH Medical Devices median
Revenue growth (TTM) 14.61% 35.85% 8.80%
EPS growth (last fiscal year) 27.27% 107.53% —
Revenue growth, 5-year CAGR 15.40% 120.21% 15.23%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric CERS DCTH Medical Devices median
Debt to equity 0.92 0.00 0.07
Current ratio 1.83 9.83 2.50
Net debt to EBITDA (0.14) 132.51 0.49

Dividend

Metric CERS DCTH Medical Devices median
Dividend yield — — 0.94%
Payout ratio 0.00 0.00 0.00

Size

Metric CERS DCTH Medical Devices median
Market cap 523.96m 557.96m 172.91m

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