Cronos Group Inc. (CRON) vs Xeris Biopharma Holdings, Inc. (XERS)

Cronos Group Inc. and Xeris Biopharma Holdings, Inc. are both Drug Manufacturers Specialty & Generic companies. Xeris Biopharma Holdings, Inc. is the larger, with a market value of $1.8B against $1.2B — 1.6× the size. Xeris Biopharma Holdings, Inc. has negative trailing earnings, so its P/E is not meaningful; Cronos Group Inc. trades at 16.1×. Cronos Group Inc. grew revenue faster over the last twelve months: 37.5% against 36.3%. Cronos Group Inc. has the higher net margin (20.9% vs −5.12%) and the lower return on invested capital (−0.34% vs 18.9%). Across the 19 metrics below, Cronos Group Inc. leads on 10 and Xeris Biopharma Holdings, Inc. on 9.

Valuation

Metric CRON XERS Drug Manufacturers Specialty & Generic median
P/E 16.10 n/m 19.25
P/S 6.72 5.30 2.11
P/B 1.08 n/m 1.78
Price to free cash flow 24.33 31.91 16.14
EV/EBITDA 32.41 36.06 12.58
EV/Sales 2.27 5.69 2.73
Earnings yield 6.21% (0.94%) (4.38%)
Free cash flow yield 4.11% 3.13% 0.00%

Profitability

Metric CRON XERS Drug Manufacturers Specialty & Generic median
Gross margin 45.86% 86.58% 53.94%
Operating margin (0.96%) 10.91% 0.00%
Net margin 20.91% (5.12%) 0.00%
Free cash flow margin 27.61% 16.60% 0.00%
Return on equity 3.33% 118.22% (0.40%)
Return on assets 3.18% (4.60%) (3.32%)
Return on invested capital (0.34%) 18.88% 0.00%

Growth

Metric CRON XERS Drug Manufacturers Specialty & Generic median
Revenue growth (TTM) 37.46% 36.33% 10.01%
EPS growth (last fiscal year) (118.18%) 100.86% 49.06%
Revenue growth, 5-year CAGR 25.70% 70.20% 6.74%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric CRON XERS Drug Manufacturers Specialty & Generic median
Debt to equity 0.00 (25.95) 0.05
Current ratio 16.18 1.45 2.31
Net debt to EBITDA 337.10 2.67 0.97

Dividend

Metric CRON XERS Drug Manufacturers Specialty & Generic median
Dividend yield — — 1.57%
Payout ratio — — 0.27

Size

Metric CRON XERS Drug Manufacturers Specialty & Generic median
Market cap 1.18b 1.84b 276.90m

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