Co-Diagnostics, Inc. (CODX) vs Flag Ship Acquisition Corp (PMI)

Co-Diagnostics, Inc. and Flag Ship Acquisition Corp are both Medical Devices companies. Flag Ship Acquisition Corp is the larger, with a market value of $11.1M against $8.3M — 1.3× the size. Co-Diagnostics, Inc. has negative trailing earnings, so its P/E is not meaningful; Flag Ship Acquisition Corp trades at 0.2×. Flag Ship Acquisition Corp grew revenue faster over the last twelve months: 45.5% against −28.1%. Flag Ship Acquisition Corp has the higher net margin (−419.8% vs −6,522.9%) and the lower return on invested capital (−410.8% vs −337.7%). Across the 17 metrics below, Flag Ship Acquisition Corp leads on 9 and Co-Diagnostics, Inc. on 8.

Valuation

Metric CODX PMI Medical Devices median
P/E n/m 0.17 22.18
P/S 6.51 1.36 2.70
P/B 0.37 5.00 2.46
Price to free cash flow n/m n/m 22.53
EV/EBITDA n/m n/m 11.78
EV/Sales 1.45 1.47 2.38
Earnings yield (2,464.05%) 597.06% (8.22%)
Free cash flow yield (584.74%) (187.12%) (7.80%)

Profitability

Metric CODX PMI Medical Devices median
Gross margin 43.47% 18.62% 56.01%
Operating margin (6,787.47%) (248.37%) (15.03%)
Net margin (6,522.91%) (419.78%) (20.40%)
Free cash flow margin (3,807.94%) (254.93%) (7.24%)
Return on equity (174.77%) 100.11% (15.32%)
Return on assets (149.25%) (253.16%) (19.72%)
Return on invested capital (337.68%) (410.80%) (10.33%)

Growth

Metric CODX PMI Medical Devices median
Revenue growth (TTM) (28.12%) 45.47% 8.80%
EPS growth (last fiscal year) 5.34% 74.92% —
Revenue growth, 5-year CAGR (61.60%) — 15.23%
Net income growth, 5-year CAGR 0.00% — 0.00%

Health

Metric CODX PMI Medical Devices median
Debt to equity 0.00 0.41 0.07
Current ratio 1.81 1.02 2.50
Net debt to EBITDA 0.24 1.27 0.49

Dividend

Metric CODX PMI Medical Devices median
Dividend yield — — 0.94%
Payout ratio 0.00 — 0.00

Size

Metric CODX PMI Medical Devices median
Market cap 8.28m 11.05m 172.91m

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