Exelixis, Inc. (EXEL) vs Insmed, Inc. (INSM)

Exelixis, Inc. and Insmed, Inc. are both Biotechnology companies. Insmed, Inc. is the larger, with a market value of $23.9B against $16.8B — 1.4× the size. Insmed, Inc. has negative trailing earnings, so its P/E is not meaningful; Exelixis, Inc. trades at 19.9×. Insmed, Inc. grew revenue faster over the last twelve months: 240.0% against 9.12%. Exelixis, Inc. has the higher net margin (35.5% vs −39.9%) and the higher return on invested capital (66.6% vs −247.6%). Across the 19 metrics below, Exelixis, Inc. leads on 17 and Insmed, Inc. on 2.

Valuation

Metric EXEL INSM Biotechnology median
P/E 19.89 n/m 10.26
P/S 6.80 15.60 9.18
P/B 9.26 32.64 2.05
Price to free cash flow 14.84 n/m 24.81
EV/EBITDA 15.62 n/m 0.65
EV/Sales 6.45 15.36 8.98
Earnings yield 5.03% (2.60%) (34.89%)
Free cash flow yield 6.74% (2.65%) (24.52%)

Profitability

Metric EXEL INSM Biotechnology median
Gross margin 96.26% 84.40% 65.16%
Operating margin 40.19% (37.11%) 0.00%
Net margin 35.45% (39.85%) 0.00%
Free cash flow margin 45.84% (41.30%) 0.00%
Return on equity 44.32% (72.45%) (50.12%)
Return on assets 33.17% (26.41%) (45.60%)
Return on invested capital 66.59% (247.55%) 0.00%

Growth

Metric EXEL INSM Biotechnology median
Revenue growth (TTM) 9.12% 239.97% 6.26%
EPS growth (last fiscal year) 57.95% (15.26%) 29.88%
Revenue growth, 5-year CAGR 18.63% 29.83% 9.75%
Net income growth, 5-year CAGR 47.58% 0.00% 0.00%

Health

Metric EXEL INSM Biotechnology median
Debt to equity 0.00 0.78 0.00
Current ratio 3.21 2.86 4.89
Net debt to EBITDA (1.18) 0.71 1.01

Dividend

Metric EXEL INSM Biotechnology median
Dividend yield — — 0.41%
Payout ratio — — —

Size

Metric EXEL INSM Biotechnology median
Market cap 16.77b 23.86b 172.11m

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