Cogent Biosciences, Inc. (COGT) vs Ligand Pharmaceuticals Incorporated (LGND)

Cogent Biosciences, Inc. and Ligand Pharmaceuticals Incorporated are both Biotechnology companies. Ligand Pharmaceuticals Incorporated is the larger, with a market value of $6.1B against $5.5B — 1.1× the size. Cogent Biosciences, Inc. has negative trailing earnings, so its P/E is not meaningful; Ligand Pharmaceuticals Incorporated trades at 30.1×. Cogent Biosciences, Inc. grew revenue faster over the last twelve months: 110.2% against 54.9%. Ligand Pharmaceuticals Incorporated has the higher net margin (67.9% vs 0.00%) and the higher return on invested capital (8.19% vs 0.00%). Across the 18 metrics below, Ligand Pharmaceuticals Incorporated leads on 15 and Cogent Biosciences, Inc. on 3.

Valuation

Metric COGT LGND Biotechnology median
P/E n/m 30.12 7.88
P/S 238.58 20.82 11.47
P/B 11.82 6.25 2.52
Price to free cash flow n/m 42.20 21.16
EV/EBITDA n/m 46.73 0.74
EV/Sales 214.01 19.98 10.73
Earnings yield (6.69%) 3.32% (28.84%)
Free cash flow yield (5.60%) 2.37% (23.03%)

Profitability

Metric COGT LGND Biotechnology median
Gross margin 0.00% 95.43% 65.16%
Operating margin 0.00% 32.61% 0.00%
Net margin 0.00% 67.88% 0.00%
Free cash flow margin 0.00% 49.34% 0.00%
Return on equity (146.55%) 21.96% (57.72%)
Return on assets (68.00%) 12.58% (49.22%)
Return on invested capital 0.00% 8.19% 0.00%

Growth

Metric COGT LGND Biotechnology median
Revenue growth (TTM) 110.23% 54.89% 5.64%
EPS growth (last fiscal year) (11.34%) 2,886.36% —
Revenue growth, 5-year CAGR 21.39% 10.39% 8.40%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric COGT LGND Biotechnology median
Debt to equity 0.42 1.16 0.00
Current ratio 13.57 31.18 4.73
Net debt to EBITDA 2.04 (4.36) 0.96

Dividend

Metric COGT LGND Biotechnology median
Dividend yield — 2.04% 2.10%
Payout ratio 0.00 0.00 0.00

Size

Metric COGT LGND Biotechnology median
Market cap 5.45b 6.09b 162.10m

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