Harmony Biosciences Holdings, Inc. (HRMY) vs Mineralys Therapeutics, Inc. (MLYS)

Harmony Biosciences Holdings, Inc. and Mineralys Therapeutics, Inc. are both Biotechnology companies. Harmony Biosciences Holdings, Inc. and Mineralys Therapeutics, Inc. are of similar size ($2.4B and $2.4B). Mineralys Therapeutics, 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 13 metrics below, Harmony Biosciences Holdings, Inc. leads on 11 and Mineralys Therapeutics, Inc. on 2.

Valuation

Metric HRMY MLYS Biotechnology median
P/E 13.18 n/m 7.88
P/S 2.49 n/m 11.47
P/B 2.39 3.98 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% (16.40%) (28.84%)
Free cash flow yield 13.17% (6.34%) (23.03%)

Profitability

Metric HRMY MLYS Biotechnology median
Gross margin 75.42% — 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% (80.88%) (57.72%)
Return on assets 14.61% (69.67%) (49.22%)
Return on invested capital 29.70% 0.00% 0.00%

Growth

Metric HRMY MLYS Biotechnology median
Revenue growth (TTM) 24.25% — 5.64%
EPS growth (last fiscal year) 7.97% 37.43% —
Revenue growth, 5-year CAGR 40.30% — 8.40%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric HRMY MLYS Biotechnology median
Debt to equity 0.15 0.18 0.00
Current ratio 3.48 34.46 4.73
Net debt to EBITDA (2.63) 3.85 0.96

Dividend

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

Size

Metric HRMY MLYS Biotechnology median
Market cap 2.40b 2.35b 162.10m

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