Envoy Medical, Inc. (COCH) vs LENSAR, Inc. (LNSR)

Envoy Medical, Inc. and LENSAR, Inc. are both Medical Devices companies. LENSAR, Inc. is the larger, with a market value of $67.6M against $55.0M — 1.2× the size. Envoy Medical, Inc. has negative trailing earnings, so its P/E is not meaningful; LENSAR, Inc. trades at 3.9×. Envoy Medical, Inc. grew revenue faster over the last twelve months: 11.1% against 3.26%. LENSAR, Inc. has the higher net margin (57.6% vs −11,233.8%) and the lower return on invested capital (−379.0% vs 0.00%). Across the 15 metrics below, LENSAR, Inc. leads on 9 and Envoy Medical, Inc. on 6.

Valuation

Metric COCH LNSR Medical Devices median
P/E n/m 3.89 25.58
P/S 319.77 1.13 2.54
P/B n/m 4.55 2.48
Price to free cash flow n/m n/m 28.81
EV/EBITDA n/m n/m 11.51
EV/Sales 389.26 1.01 2.72
Earnings yield (12.82%) 25.68% (12.82%)
Free cash flow yield (29.39%) (10.91%) (8.18%)

Profitability

Metric COCH LNSR Medical Devices median
Gross margin (352.81%) 48.34% 57.76%
Operating margin (10,151.52%) (13.48%) (15.07%)
Net margin (11,233.77%) 57.57% (14.45%)
Free cash flow margin 0.00% (12.29%) (3.88%)
Return on equity 564.62% (851.75%) (10.35%)
Return on assets (189.84%) 49.58% (17.26%)
Return on invested capital 0.00% (379.01%) (5.27%)

Growth

Metric COCH LNSR Medical Devices median
Revenue growth (TTM) 11.06% 3.26% 10.41%
EPS growth (last fiscal year) 17.45% (5.13%) 28.17%
Revenue growth, 5-year CAGR — 17.24% 15.74%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric COCH LNSR Medical Devices median
Debt to equity 0.00 0.00 0.04
Current ratio 0.00 2.39 2.74
Net debt to EBITDA 0.18 0.89 0.54

Dividend

Metric COCH LNSR Medical Devices median
Dividend yield — — 1.02%
Payout ratio — — 0.37

Size

Metric COCH LNSR Medical Devices median
Market cap 54.95m 67.57m 239.53m

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