Harmony Biosciences Holdings, Inc. (HRMY) vs Disc Medicine, Inc. (IRON)

Harmony Biosciences Holdings, Inc. and Disc Medicine, Inc. are both Biotechnology companies. Harmony Biosciences Holdings, Inc. and Disc Medicine, Inc. are of similar size ($2.6B and $2.4B). Disc Medicine, Inc. has negative trailing earnings, so its P/E is not meaningful; Harmony Biosciences Holdings, Inc. trades at 13.2×. Harmony Biosciences Holdings, Inc. has the higher net margin (18.9% vs 0.00%) and the higher return on invested capital (29.7% vs 0.00%). Across the 14 metrics below, Harmony Biosciences Holdings, Inc. leads on 12 and Disc Medicine, Inc. on 2.

Valuation

Metric HRMY IRON Biotechnology median
P/E 13.18 n/m 7.88
P/S 2.49 n/m 11.47
P/B 2.39 3.93 2.52
Price to free cash flow 7.59 n/m 21.16
EV/EBITDA 7.35 n/m 0.74
EV/Sales 1.95 n/m 10.73
Earnings yield 7.59% (10.05%) (28.84%)
Free cash flow yield 13.17% (7.84%) (23.03%)

Profitability

Metric HRMY IRON Biotechnology median
Gross margin 75.42% 0.00% 65.16%
Operating margin 24.03% 0.00% 0.00%
Net margin 18.88% 0.00% 0.00%
Free cash flow margin 36.99% 0.00% 0.00%
Return on equity 20.46% (39.08%) (57.72%)
Return on assets 14.61% (35.12%) (49.22%)
Return on invested capital 29.70% 0.00% 0.00%

Growth

Metric HRMY IRON Biotechnology median
Revenue growth (TTM) 24.25% — 5.64%
EPS growth (last fiscal year) 7.97% (51.77%) —
Revenue growth, 5-year CAGR 40.30% — 8.40%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric HRMY IRON Biotechnology median
Debt to equity 0.15 0.09 0.00
Current ratio 3.48 24.14 4.73
Net debt to EBITDA (2.63) 3.12 0.96

Dividend

Metric HRMY IRON Biotechnology median
Dividend yield — — 2.10%
Payout ratio 0.00 0.00 0.00

Size

Metric HRMY IRON Biotechnology median
Market cap 2.40b 2.55b 162.10m

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