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 $10.5B against $5.3B — 2.0× the size. GRAIL, Inc. has negative trailing earnings, so its P/E is not meaningful; QIAGEN N.V. trades at 26.1×. GRAIL, Inc. grew revenue faster over the last twelve months: 17.5% against 2.96%. QIAGEN N.V. has the higher net margin (19.5% vs −243.8%) and the higher return on invested capital (6.62% vs −14.7%). 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 26.07 34.52
P/S 34.93 5.00 4.24
P/B 2.37 3.13 3.42
Price to free cash flow n/m 23.83 33.51
EV/EBITDA n/m 17.43 23.44
EV/Sales 29.76 5.40 5.18
Earnings yield (7.64%) 3.84% (1.50%)
Free cash flow yield (5.36%) 4.20% 0.00%

Profitability

Metric GRAL QGEN Diagnostics & Research median
Gross margin 0.00% 62.20% 48.32%
Operating margin (347.28%) 21.21% (5.68%)
Net margin (243.80%) 19.49% (4.10%)
Free cash flow margin (187.27%) 20.98% 0.00%
Return on equity (17.31%) 11.93% 0.00%
Return on assets (15.24%) 6.99% (6.05%)
Return on invested capital (14.74%) 6.62% 0.00%

Growth

Metric GRAL QGEN Diagnostics & Research median
Revenue growth (TTM) 17.47% 2.96% 8.99%
EPS growth (last fiscal year) 82.51% 424.32% 20.36%
Revenue growth, 5-year CAGR — 2.25% 7.30%
Net income growth, 5-year CAGR — 3.42% 0.00%

Health

Metric GRAL QGEN Diagnostics & Research median
Debt to equity 0.00 0.49 0.01
Current ratio 8.93 2.85 2.27
Net debt to EBITDA 2.27 0.84 0.68

Dividend

Metric GRAL QGEN Diagnostics & Research median
Dividend yield — 0.69% 0.67%
Payout ratio — 0.18 0.20

Size

Metric GRAL QGEN Diagnostics & Research median
Market cap 5.32b 10.50b 2.22b

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