Cullinan Therapeutics, Inc. (CGEM) vs MeiraGTx Holdings PLC (MGTX)

Cullinan Therapeutics, Inc. and MeiraGTx Holdings PLC are both Biotechnology companies. Cullinan Therapeutics, Inc. and MeiraGTx Holdings PLC are of similar size ($949.9M and $901.0M). Cullinan Therapeutics, Inc. has negative trailing earnings, so its P/E is not meaningful; MeiraGTx Holdings PLC trades at 12.2×. MeiraGTx Holdings PLC has the higher net margin (19.9% vs 0.00%) and the higher return on invested capital (66.6% vs 0.00%). Across the 13 metrics below, MeiraGTx Holdings PLC leads on 10 and Cullinan Therapeutics, Inc. on 3.

Valuation

Metric CGEM MGTX Biotechnology median
P/E n/m 12.21 8.50
P/S n/m 2.13 9.71
P/B 2.47 3.93 2.13
Price to free cash flow n/m 83.81 20.82
EV/EBITDA n/m 4.08 0.64
EV/Sales n/m 2.03 9.21
Earnings yield (23.98%) 8.19% (33.15%)
Free cash flow yield (20.03%) 1.19% (25.50%)

Profitability

Metric CGEM MGTX Biotechnology median
Gross margin — 97.95% 65.16%
Operating margin 0.00% 46.30% 0.00%
Net margin 0.00% 19.87% 0.00%
Free cash flow margin 0.00% 2.55% 0.00%
Return on equity (50.30%) 72.22% (56.36%)
Return on assets (46.30%) 26.54% (48.04%)
Return on invested capital 0.00% 66.60% 0.00%

Growth

Metric CGEM MGTX Biotechnology median
Revenue growth (TTM) — 948.35% 6.02%
EPS growth (last fiscal year) (20.86%) 33.02% 30.26%
Revenue growth, 5-year CAGR — 39.22% 9.41%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric CGEM MGTX Biotechnology median
Debt to equity 0.00 0.46 0.00
Current ratio 8.42 3.76 4.72
Net debt to EBITDA 1.57 0.18 0.96

Dividend

Metric CGEM MGTX Biotechnology median
Dividend yield — — 0.09%
Payout ratio — — —

Size

Metric CGEM MGTX Biotechnology median
Market cap 900.97m 949.86m 135.18m

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