Doximity, Inc. (DOCS) vs 10x Genomics (TXG)

Doximity, Inc. and 10x Genomics are both Health Information Services companies. 10x Genomics is the larger, with a market value of $11.1B against $4.6B — 2.4× the size. 10x Genomics has negative trailing earnings, so its P/E is not meaningful; Doximity, Inc. trades at 29.6×. Doximity, Inc. grew revenue faster over the last twelve months: 11.2% against −4.28%. Doximity, Inc. has the higher net margin (25.5% vs −12.2%) and the higher return on invested capital (53.1% vs −20.2%). Across the 19 metrics below, Doximity, Inc. leads on 18 and 10x Genomics on 1.

Valuation

Metric DOCS TXG Health Information Services median
P/E 29.61 n/m 39.52
P/S 7.34 18.06 2.65
P/B 5.25 13.50 2.32
Price to free cash flow 16.20 92.51 16.77
EV/EBITDA 18.90 n/m 12.35
EV/Sales 6.29 17.32 3.06
Earnings yield 3.38% (0.69%) (1.68%)
Free cash flow yield 6.17% 1.08% 0.54%

Profitability

Metric DOCS TXG Health Information Services median
Gross margin 88.07% 70.03% 63.38%
Operating margin 29.60% (14.33%) (8.35%)
Net margin 25.48% (12.18%) (14.70%)
Free cash flow margin 45.31% 19.68% 0.58%
Return on equity 17.21% (9.40%) (6.82%)
Return on assets 14.60% (7.47%) (6.02%)
Return on invested capital 53.13% (20.20%) 0.00%

Growth

Metric DOCS TXG Health Information Services median
Revenue growth (TTM) 11.18% (4.28%) 8.62%
EPS growth (last fiscal year) (11.71%) 76.97% —
Revenue growth, 5-year CAGR 25.53% 16.55% 12.36%
Net income growth, 5-year CAGR 55.51% 0.00% 0.00%

Health

Metric DOCS TXG Health Information Services median
Debt to equity 0.00 0.00 0.01
Current ratio 6.08 5.69 2.37
Net debt to EBITDA (3.18) 30.49 0.50

Dividend

Metric DOCS TXG Health Information Services median
Dividend yield — — 0.85%
Payout ratio 0.00 0.00 0.00

Size

Metric DOCS TXG Health Information Services median
Market cap 4.64b 11.05b 352.86m

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