Glaukos Corporation (GKOS) vs Zimmer Biomet Holdings, Inc. (ZBH)

Glaukos Corporation and Zimmer Biomet Holdings, Inc. are both Medical Devices companies. Zimmer Biomet Holdings, Inc. is the larger, with a market value of $20.4B against $13.0B — 1.6× the size. Glaukos Corporation has negative trailing earnings, so its P/E is not meaningful; Zimmer Biomet Holdings, Inc. trades at 26.9×. Glaukos Corporation grew revenue faster over the last twelve months: 46.9% against 6.98%. Zimmer Biomet Holdings, Inc. has the higher net margin (8.95% vs −24.6%) and the higher return on invested capital (3.66% vs −24.6%). Across the 19 metrics below, Zimmer Biomet Holdings, Inc. leads on 12 and Glaukos Corporation on 7.

Valuation

Metric GKOS ZBH Medical Devices median
P/E n/m 26.87 25.58
P/S 18.79 2.37 2.54
P/B 18.08 1.61 2.48
Price to free cash flow 360.06 18.22 28.81
EV/EBITDA n/m 12.10 11.51
EV/Sales 18.80 3.20 2.72
Earnings yield (1.34%) 3.72% (12.82%)
Free cash flow yield 0.28% 5.49% (8.18%)

Profitability

Metric GKOS ZBH Medical Devices median
Gross margin 81.13% 69.68% 57.76%
Operating margin (25.52%) 13.55% (15.07%)
Net margin (24.60%) 8.95% (14.45%)
Free cash flow margin 5.22% 13.02% (3.88%)
Return on equity (22.84%) 6.02% (10.35%)
Return on assets (17.16%) 3.26% (17.26%)
Return on invested capital (24.60%) 3.66% (5.27%)

Growth

Metric GKOS ZBH Medical Devices median
Revenue growth (TTM) 46.94% 6.98% 10.41%
EPS growth (last fiscal year) (18.41%) (19.86%) 28.17%
Revenue growth, 5-year CAGR 17.67% 6.08% 15.74%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric GKOS ZBH Medical Devices median
Debt to equity 0.09 0.59 0.04
Current ratio 4.57 1.46 2.74
Net debt to EBITDA 1.31 3.16 0.54

Dividend

Metric GKOS ZBH Medical Devices median
Dividend yield — 0.90% 1.02%
Payout ratio — 0.24 0.37

Size

Metric GKOS ZBH Medical Devices median
Market cap 13.02b 20.38b 239.53m

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