Harvard Bioscience, Inc. (HBIO) vs Nephros Inc. (NEPH)

Harvard Bioscience, Inc. and Nephros Inc. are both Medical Instruments & Supplies companies. Harvard Bioscience, Inc. and Nephros Inc. are of similar size ($38.1M and $37.8M). Harvard Bioscience, Inc. has negative trailing earnings, so its P/E is not meaningful; Nephros Inc. trades at 23.4×. Nephros Inc. grew revenue faster over the last twelve months: 24.2% against −1.06%. Nephros Inc. has the higher net margin (8.38% vs −11.9%) and the higher return on invested capital (14.1% vs −0.41%). Across the 19 metrics below, Nephros Inc. leads on 15 and Harvard Bioscience, Inc. on 4.

Valuation

Metric HBIO NEPH Medical Instruments & Supplies median
P/E n/m 23.43 33.75
P/S 0.42 1.91 2.52
P/B 4.94 3.31 2.48
Price to free cash flow n/m n/m 25.19
EV/EBITDA 14.24 19.82 14.62
EV/Sales 1.15 1.69 2.88
Earnings yield (28.55%) 4.27% (2.67%)
Free cash flow yield (5.00%) (1.98%) 0.09%

Profitability

Metric HBIO NEPH Medical Instruments & Supplies median
Gross margin 58.16% 61.26% 54.29%
Operating margin (0.28%) 7.92% 1.07%
Net margin (11.86%) 8.38% (1.61%)
Free cash flow margin (2.09%) (3.19%) 1.08%
Return on equity (89.95%) 16.10% (1.32%)
Return on assets (13.32%) 12.39% 0.00%
Return on invested capital (0.41%) 14.11% 0.00%

Growth

Metric HBIO NEPH Medical Instruments & Supplies median
Revenue growth (TTM) (1.06%) 24.20% 8.85%
EPS growth (last fiscal year) (357.14%) 1,471.43% 8.65%
Revenue growth, 5-year CAGR (3.25%) 17.02% 9.17%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric HBIO NEPH Medical Instruments & Supplies median
Debt to equity 4.95 0.00 0.10
Current ratio 1.87 4.07 2.48
Net debt to EBITDA 4.11 (4.20) 0.89

Dividend

Metric HBIO NEPH Medical Instruments & Supplies median
Dividend yield — — 1.11%
Payout ratio — — 0.27

Size

Metric HBIO NEPH Medical Instruments & Supplies median
Market cap 37.83m 38.12m 619.84m

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