Compugen Ltd. (CGEN) vs Invivyd, Inc. (IVVD)

Compugen Ltd. and Invivyd, Inc. are both Biotechnology companies. Compugen Ltd. and Invivyd, Inc. are of similar size ($190.4M and $187.6M). Invivyd, Inc. has negative trailing earnings, so its P/E is not meaningful; Compugen Ltd. trades at 5.5×. Compugen Ltd. grew revenue faster over the last twelve months: 234.2% against 26.3%. Compugen Ltd. has the higher net margin (47.6% vs −183.9%) and the higher return on invested capital (0.00% vs −334.9%). Across the 16 metrics below, Compugen Ltd. leads on 12 and Invivyd, Inc. on 4.

Valuation

Metric CGEN IVVD Biotechnology median
P/E 5.47 n/m 8.42
P/S 2.66 3.68 10.01
P/B 2.22 1.19 2.21
Price to free cash flow 4.92 n/m 21.01
EV/EBITDA 2.36 n/m 0.61
EV/Sales 0.97 0.94 9.41
Earnings yield 18.27% (49.25%) (31.85%)
Free cash flow yield 20.34% (51.08%) (24.58%)

Profitability

Metric CGEN IVVD Biotechnology median
Gross margin 86.89% 92.23% 65.16%
Operating margin 40.94% (192.81%) 0.00%
Net margin 47.55% (183.90%) 0.00%
Free cash flow margin 54.10% (187.88%) 0.00%
Return on equity 47.85% (95.89%) (56.36%)
Return on assets 23.86% (69.69%) (48.04%)
Return on invested capital 0.00% (334.92%) 0.00%

Growth

Metric CGEN IVVD Biotechnology median
Revenue growth (TTM) 234.18% 26.30% 6.02%
EPS growth (last fiscal year) 337.50% 79.02% 30.26%
Revenue growth, 5-year CAGR 105.20% — 9.41%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric CGEN IVVD Biotechnology median
Debt to equity 0.00 0.00 0.00
Current ratio 5.72 5.87 4.72
Net debt to EBITDA (4.65) 4.24 0.96

Dividend

Metric CGEN IVVD Biotechnology median
Dividend yield — — 0.08%
Payout ratio — — —

Size

Metric CGEN IVVD Biotechnology median
Market cap 187.56m 190.41m 132.35m

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