GRAIL, Inc. (GRAL) vs QIAGEN N.V. (QGEN)

GRAIL, Inc. and QIAGEN N.V. are both Diagnostics & Research companies. QIAGEN N.V. is the larger, with a market value of $9.3B against $5.5B — 1.7× the size. GRAIL, Inc. has negative trailing earnings, so its P/E is not meaningful; QIAGEN N.V. trades at 22.6×. GRAIL, Inc. grew revenue faster over the last twelve months: 23.1% against 2.96%. QIAGEN N.V. has the higher net margin (19.5% vs −237.0%) and the higher return on invested capital (6.62% vs −20.8%). Across the 17 metrics below, QIAGEN N.V. leads on 13 and GRAIL, Inc. on 4.

Valuation

Metric GRAL QGEN Diagnostics & Research median
P/E n/m 22.64 33.95
P/S 33.10 4.34 4.87
P/B 2.15 2.72 3.12
Price to free cash flow n/m 20.69 34.02
EV/EBITDA n/m 15.31 25.20
EV/Sales 27.89 4.75 5.66
Earnings yield (7.68%) 4.42% (1.75%)
Free cash flow yield (5.41%) 4.83% (0.13%)

Profitability

Metric GRAL QGEN Diagnostics & Research median
Gross margin (31.31%) 62.20% 50.89%
Operating margin (338.40%) 21.21% (8.57%)
Net margin (236.95%) 19.49% (6.37%)
Free cash flow margin (179.21%) 20.98% 0.00%
Return on equity (16.12%) 11.93% (2.92%)
Return on assets (14.12%) 6.99% (6.71%)
Return on invested capital (20.79%) 6.62% 0.00%

Growth

Metric GRAL QGEN Diagnostics & Research median
Revenue growth (TTM) 23.07% 2.96% 7.69%
EPS growth (last fiscal year) 82.51% 398.07% —
Revenue growth, 5-year CAGR — 2.25% 7.40%
Net income growth, 5-year CAGR — 3.42% 0.00%

Health

Metric GRAL QGEN Diagnostics & Research median
Debt to equity 0.00 0.49 0.11
Current ratio 10.95 2.85 2.02
Net debt to EBITDA 2.27 0.84 0.78

Dividend

Metric GRAL QGEN Diagnostics & Research median
Dividend yield — — 0.70%
Payout ratio — 0.00 0.00

Size

Metric GRAL QGEN Diagnostics & Research median
Market cap 5.54b 9.26b 2.56b

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