Harmony Biosciences Holdings, Inc. (HRMY) vs Maravai LifeSciences Holdings, Inc. (MRVI)

Harmony Biosciences Holdings, Inc. and Maravai LifeSciences Holdings, Inc. are both Biotechnology companies. Harmony Biosciences Holdings, Inc. and Maravai LifeSciences Holdings, Inc. are of similar size ($1.9B and $1.8B). Maravai LifeSciences Holdings, Inc. has negative trailing earnings, so its P/E is not meaningful; Harmony Biosciences Holdings, Inc. trades at 10.7×. Harmony Biosciences Holdings, Inc. grew revenue faster over the last twelve months: 19.8% against 10.7%. Harmony Biosciences Holdings, Inc. has the higher net margin (18.1% vs −30.8%) and the higher return on invested capital (30.5% vs −13.6%). Across the 18 metrics below, Harmony Biosciences Holdings, Inc. leads on 16 and Maravai LifeSciences Holdings, Inc. on 2.

Valuation

Metric HRMY MRVI Biotechnology median
P/E 10.74 n/m 10.60
P/S 1.95 5.26 9.40
P/B 1.80 3.30 2.13
Price to free cash flow 6.83 n/m 25.18
EV/EBITDA 5.37 n/m 0.66
EV/Sales 1.32 5.75 9.02
Earnings yield 9.31% (5.72%) (32.88%)
Free cash flow yield 14.65% (1.12%) (23.13%)

Profitability

Metric HRMY MRVI Biotechnology median
Gross margin 74.03% 39.15% 68.51%
Operating margin 22.17% (45.38%) 0.00%
Net margin 18.05% (30.83%) 0.00%
Free cash flow margin 32.65% (5.89%) 0.00%
Return on equity 18.73% (17.01%) (51.96%)
Return on assets 13.30% (9.06%) (46.06%)
Return on invested capital 30.45% (13.62%) 0.00%

Growth

Metric HRMY MRVI Biotechnology median
Revenue growth (TTM) 19.79% 10.68% 6.76%
EPS growth (last fiscal year) 7.97% 14.29% 29.88%
Revenue growth, 5-year CAGR 40.30% (8.15%) 9.75%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric HRMY MRVI Biotechnology median
Debt to equity 0.14 0.52 0.00
Current ratio 3.44 4.66 4.97
Net debt to EBITDA (2.63) (0.69) 1.01

Dividend

Metric HRMY MRVI Biotechnology median
Dividend yield — — 0.41%
Payout ratio — — —

Size

Metric HRMY MRVI Biotechnology median
Market cap 1.89b 1.81b 161.82m

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