Glaukos Corporation (GKOS) vs STERIS plc (STE)

Glaukos Corporation and STERIS plc are both Medical Devices companies. STERIS plc is the larger, with a market value of $24.8B against $13.0B — 1.9× the size. Glaukos Corporation has negative trailing earnings, so its P/E is not meaningful; STERIS plc trades at 30.0×. Glaukos Corporation grew revenue faster over the last twelve months: 46.9% against 8.12%. STERIS plc has the higher net margin (13.4% vs −24.6%) and the higher return on invested capital (8.47% vs −24.6%). Across the 20 metrics below, STERIS plc leads on 15 and Glaukos Corporation on 5.

Valuation

Metric GKOS STE Medical Devices median
P/E n/m 30.00 25.58
P/S 18.79 4.01 2.54
P/B 18.08 3.40 2.48
Price to free cash flow 360.06 26.35 28.81
EV/EBITDA n/m 15.65 11.51
EV/Sales 18.80 4.23 2.72
Earnings yield (1.34%) 3.33% (12.82%)
Free cash flow yield 0.28% 3.79% (8.18%)

Profitability

Metric GKOS STE Medical Devices median
Gross margin 81.13% 44.56% 57.76%
Operating margin (25.52%) 18.98% (15.07%)
Net margin (24.60%) 13.41% (14.45%)
Free cash flow margin 5.22% 20.92% (3.88%)
Return on equity (22.84%) 11.57% (10.35%)
Return on assets (17.16%) 7.83% (17.26%)
Return on invested capital (24.60%) 8.47% (5.27%)

Growth

Metric GKOS STE Medical Devices median
Revenue growth (TTM) 46.94% 8.12% 10.41%
EPS growth (last fiscal year) (18.41%) 27.90% 28.17%
Revenue growth, 5-year CAGR 17.67% 13.82% 15.74%
Net income growth, 5-year CAGR 0.00% 14.51% 0.00%

Health

Metric GKOS STE Medical Devices median
Debt to equity 0.09 0.26 0.04
Current ratio 4.57 2.05 2.74
Net debt to EBITDA 1.31 0.94 0.54

Dividend

Metric GKOS STE Medical Devices median
Dividend yield — 1.02% 1.02%
Payout ratio — 0.31 0.37

Size

Metric GKOS STE Medical Devices median
Market cap 13.02b 24.78b 239.53m

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