Establishment Labs Holdings Inc. (ESTA) vs UFP Technologies, Inc. (UFPT)

Establishment Labs Holdings Inc. and UFP Technologies, Inc. are both Medical Devices companies. UFP Technologies, Inc. is the larger, with a market value of $2.3B against $2.0B — 1.2× the size. Establishment Labs Holdings Inc. has negative trailing earnings, so its P/E is not meaningful; UFP Technologies, Inc. trades at 31.6×. Establishment Labs Holdings Inc. grew revenue faster over the last twelve months: 38.6% against 7.32%. UFP Technologies, Inc. has the higher net margin (11.5% vs −15.8%) and the higher return on invested capital (10.3% vs −5.53%). Across the 19 metrics below, UFP Technologies, Inc. leads on 14 and Establishment Labs Holdings Inc. on 5.

Valuation

Metric ESTA UFPT Medical Devices median
P/E n/m 31.59 22.18
P/S 8.08 3.62 2.70
P/B 91.97 4.95 2.46
Price to free cash flow n/m 37.21 22.53
EV/EBITDA n/m 20.78 11.78
EV/Sales 8.86 3.82 2.38
Earnings yield (1.99%) 3.17% (8.22%)
Free cash flow yield (2.09%) 2.69% (7.80%)

Profitability

Metric ESTA UFPT Medical Devices median
Gross margin 70.49% 28.50% 56.01%
Operating margin (7.63%) 15.25% (15.03%)
Net margin (15.82%) 11.45% (20.40%)
Free cash flow margin (16.90%) 9.74% (7.24%)
Return on equity (175.30%) 17.05% (15.32%)
Return on assets (11.41%) 10.98% (19.72%)
Return on invested capital (5.53%) 10.29% (10.33%)

Growth

Metric ESTA UFPT Medical Devices median
Revenue growth (TTM) 38.55% 7.32% 8.80%
EPS growth (last fiscal year) 42.67% 15.44% —
Revenue growth, 5-year CAGR 20.04% 27.43% 15.23%
Net income growth, 5-year CAGR 0.00% 38.57% 0.00%

Health

Metric ESTA UFPT Medical Devices median
Debt to equity 12.11 0.28 0.07
Current ratio 3.84 3.00 2.50
Net debt to EBITDA (6.03) 1.16 0.49

Dividend

Metric ESTA UFPT Medical Devices median
Dividend yield — — 0.94%
Payout ratio 0.00 0.00 0.00

Size

Metric ESTA UFPT Medical Devices median
Market cap 1.95b 2.31b 172.91m

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