Haemonetics Corporation (HAE) vs 10x Genomics (TXG)

Haemonetics Corporation and 10x Genomics are both Medical Devices companies. 10x Genomics is the larger, with a market value of $7.6B against $5.7B — 1.3× the size. 10x Genomics has negative trailing earnings, so its P/E is not meaningful; Haemonetics Corporation trades at 54.5×. Haemonetics Corporation grew revenue faster over the last twelve months: 4.11% against −4.28%. Haemonetics Corporation has the higher net margin (7.52% vs −12.2%) and the higher return on invested capital (6.31% vs −20.2%). Across the 20 metrics below, Haemonetics Corporation leads on 15 and 10x Genomics on 5.

Valuation

Metric HAE TXG Medical Devices median
P/E 54.48 n/m 25.58
P/S 4.05 12.35 2.54
P/B 6.24 9.23 2.48
Price to free cash flow 18.11 63.28 28.81
EV/EBITDA 23.58 n/m 11.51
EV/Sales 4.67 11.51 2.72
Earnings yield 1.84% (1.01%) (12.82%)
Free cash flow yield 5.52% 1.58% (8.18%)

Profitability

Metric HAE TXG Medical Devices median
Gross margin 59.63% 70.03% 57.76%
Operating margin 12.80% (14.33%) (15.07%)
Net margin 7.52% (12.18%) (14.45%)
Free cash flow margin 24.95% 19.68% (3.88%)
Return on equity 11.89% (9.40%) (10.35%)
Return on assets 4.28% (7.47%) (17.26%)
Return on invested capital 6.31% (20.20%) (5.27%)

Growth

Metric HAE TXG Medical Devices median
Revenue growth (TTM) 4.11% (4.28%) 10.41%
EPS growth (last fiscal year) (38.07%) 76.97% 28.17%
Revenue growth, 5-year CAGR 8.91% 16.55% 15.74%
Net income growth, 5-year CAGR 4.13% 0.00% 0.00%

Health

Metric HAE TXG Medical Devices median
Debt to equity 1.24 0.00 0.04
Current ratio 2.84 5.69 2.74
Net debt to EBITDA 3.55 30.49 0.54

Dividend

Metric HAE TXG Medical Devices median
Dividend yield — — 1.02%
Payout ratio — — 0.37

Size

Metric HAE TXG Medical Devices median
Market cap 5.65b 7.56b 239.53m

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