Haemonetics Corporation (HAE) vs iRhythm Holdings, Inc. (IRTC)

Haemonetics Corporation and iRhythm Holdings, Inc. are both Medical Devices companies. Haemonetics Corporation is the larger, with a market value of $4.8B against $3.7B — 1.3× the size. iRhythm Holdings, Inc. has negative trailing earnings, so its P/E is not meaningful; Haemonetics Corporation trades at 51.4×. iRhythm Holdings, Inc. grew revenue faster over the last twelve months: 25.6% against 0.44%. Haemonetics Corporation has the higher net margin (7.12% vs −1.69%) and the higher return on invested capital (5.62% vs −6.32%). Across the 21 metrics below, Haemonetics Corporation leads on 15 and iRhythm Holdings, Inc. on 6.

Valuation

Metric HAE IRTC Medical Devices median
P/E 51.37 n/m 22.18
P/S 3.53 4.40 2.70
P/B 5.71 19.52 2.46
Price to free cash flow 16.33 93.15 22.53
EV/EBITDA 20.90 2,470.56 11.78
EV/Sales 4.23 4.49 2.38
Earnings yield 1.95% (0.39%) (8.22%)
Free cash flow yield 6.12% 1.07% (7.80%)

Profitability

Metric HAE IRTC Medical Devices median
Gross margin 59.03% 71.45% 56.01%
Operating margin 11.86% (3.01%) (15.03%)
Net margin 7.12% (1.69%) (20.40%)
Free cash flow margin 21.64% 4.72% (7.24%)
Return on equity 11.20% (9.63%) (15.32%)
Return on assets 3.99% (1.36%) (19.72%)
Return on invested capital 5.62% (6.32%) (10.33%)

Growth

Metric HAE IRTC Medical Devices median
Revenue growth (TTM) 0.44% 25.58% 8.80%
EPS growth (last fiscal year) (38.07%) 61.71% —
Revenue growth, 5-year CAGR 8.91% 23.02% 15.23%
Net income growth, 5-year CAGR 4.13% 0.00% 0.00%

Health

Metric HAE IRTC Medical Devices median
Debt to equity 1.40 3.50 0.07
Current ratio 3.08 3.86 2.50
Net debt to EBITDA 3.55 (2.12) 0.49

Dividend

Metric HAE IRTC Medical Devices median
Dividend yield — — 0.94%
Payout ratio 0.00 0.00 0.00

Size

Metric HAE IRTC Medical Devices median
Market cap 4.82b 3.65b 172.91m

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