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

Harvard Bioscience, Inc. and Nephros Inc. are both Medical Instruments & Supplies companies. Harvard Bioscience, Inc. is the larger, with a market value of $38.5M against $33.6M — 1.1× the size. Harvard Bioscience, Inc. has negative trailing earnings, so its P/E is not meaningful; Nephros Inc. trades at 18.0×. Nephros Inc. grew revenue faster over the last twelve months: 20.4% against −1.06%. Nephros Inc. has the higher net margin (8.86% vs −11.9%) and the higher return on invested capital (14.3% 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 17.98 30.28
P/S 0.44 1.59 2.49
P/B 5.22 2.74 2.34
Price to free cash flow n/m n/m 23.49
EV/EBITDA 14.53 15.32 14.87
EV/Sales 1.17 1.38 2.75
Earnings yield (27.02%) 5.56% 0.00%
Free cash flow yield (4.73%) (3.02%) 0.59%

Profitability

Metric HBIO NEPH Medical Instruments & Supplies median
Gross margin 58.16% 60.55% 53.60%
Operating margin (0.28%) 8.48% 1.97%
Net margin (11.86%) 8.86% 0.00%
Free cash flow margin (2.09%) (4.22%) 2.36%
Return on equity (89.95%) 16.95% 0.00%
Return on assets (13.32%) 13.39% 0.00%
Return on invested capital (0.41%) 14.29% 0.13%

Growth

Metric HBIO NEPH Medical Instruments & Supplies median
Revenue growth (TTM) (1.06%) 20.36% 8.97%
EPS growth (last fiscal year) (357.14%) 1,471.43% 6.51%
Revenue growth, 5-year CAGR (3.25%) 17.02% 8.85%
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 5.50 2.47
Net debt to EBITDA 4.11 (4.20) 0.97

Dividend

Metric HBIO NEPH Medical Instruments & Supplies median
Dividend yield — — 1.02%
Payout ratio — — 0.27

Size

Metric HBIO NEPH Medical Instruments & Supplies median
Market cap 38.52m 33.59m 1.71b

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