IDEXX Laboratories, Inc. (IDXX) vs Natera, Inc. (NTRA)

IDEXX Laboratories, Inc. and Natera, Inc. are both Diagnostics & Research companies. IDEXX Laboratories, Inc. and Natera, Inc. are of similar size ($52.8B and $52.4B). Natera, Inc. has negative trailing earnings, so its P/E is not meaningful; IDEXX Laboratories, Inc. trades at 44.8×. Natera, Inc. grew revenue faster over the last twelve months: 37.4% against 11.9%. IDEXX Laboratories, Inc. has the higher net margin (25.4% vs −5.66%) and the higher return on invested capital (46.0% vs −8.35%). Across the 20 metrics below, IDEXX Laboratories, Inc. leads on 15 and Natera, Inc. on 5.

Valuation

Metric IDXX NTRA Diagnostics & Research median
P/E 44.83 n/m 34.52
P/S 11.31 18.12 4.24
P/B 28.21 28.19 3.42
Price to free cash flow 40.57 1,004.35 33.51
EV/EBITDA 31.80 n/m 23.44
EV/Sales 11.35 17.87 5.18
Earnings yield 2.23% (0.31%) (1.50%)
Free cash flow yield 2.47% 0.10% 0.00%

Profitability

Metric IDXX NTRA Diagnostics & Research median
Gross margin 62.72% 0.00% 48.32%
Operating margin 32.30% (8.95%) (5.68%)
Net margin 25.36% (5.66%) (4.10%)
Free cash flow margin 27.88% 1.80% 0.00%
Return on equity 68.93% (10.55%) 0.00%
Return on assets 33.33% (7.21%) (6.05%)
Return on invested capital 46.00% (8.35%) 0.00%

Growth

Metric IDXX NTRA Diagnostics & Research median
Revenue growth (TTM) 11.87% 37.43% 8.99%
EPS growth (last fiscal year) 22.59% 0.65% 20.36%
Revenue growth, 5-year CAGR 9.72% 42.61% 7.30%
Net income growth, 5-year CAGR 12.74% 0.00% 0.00%

Health

Metric IDXX NTRA Diagnostics & Research median
Debt to equity 0.20 0.04 0.01
Current ratio 1.19 2.81 2.27
Net debt to EBITDA 0.18 3.74 0.68

Dividend

Metric IDXX NTRA Diagnostics & Research median
Dividend yield — — 0.67%
Payout ratio — — 0.20

Size

Metric IDXX NTRA Diagnostics & Research median
Market cap 52.84b 52.43b 2.22b

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