InnovAge Holding Corp. (INNV) vs Strata Critical Medical, Inc. (SRTA)

InnovAge Holding Corp. and Strata Critical Medical, Inc. are both Medical Care Facilities companies. InnovAge Holding Corp. is the larger, with a market value of $1.2B against $476.8M — 2.5× the size. InnovAge Holding Corp. has negative trailing earnings, so its P/E is not meaningful; Strata Critical Medical, Inc. trades at 10.5×. Strata Critical Medical, Inc. grew revenue faster over the last twelve months: 136.1% against 15.9%. Strata Critical Medical, Inc. has the higher net margin (15.7% vs −0.26%) and the lower return on invested capital (−4.98% vs 1.06%). Across the 18 metrics below, Strata Critical Medical, Inc. leads on 10 and InnovAge Holding Corp. on 8.

Valuation

Metric INNV SRTA Medical Care Facilities median
P/E n/m 10.51 19.16
P/S 1.23 1.80 0.90
P/B 5.12 1.65 2.91
Price to free cash flow 24.10 n/m 12.62
EV/EBITDA 46.32 n/m 10.06
EV/Sales 1.15 1.71 1.35
Earnings yield (0.22%) 9.51% 2.30%
Free cash flow yield 4.15% (10.78%) 4.14%

Profitability

Metric INNV SRTA Medical Care Facilities median
Gross margin 23.01% 21.25% 30.78%
Operating margin 0.26% (7.97%) 5.74%
Net margin (0.26%) 15.71% 2.32%
Free cash flow margin 5.47% (19.34%) 5.46%
Return on equity (1.06%) 16.01% 8.76%
Return on assets (0.47%) 13.62% 2.18%
Return on invested capital 1.06% (4.98%) 5.40%

Growth

Metric INNV SRTA Medical Care Facilities median
Revenue growth (TTM) 15.93% 136.11% 7.12%
EPS growth (last fiscal year) 90.91% 242.86% —
Revenue growth, 5-year CAGR 9.19% 31.30% 9.58%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric INNV SRTA Medical Care Facilities median
Debt to equity 0.24 0.00 0.30
Current ratio 1.05 2.64 1.22
Net debt to EBITDA (3.47) 4.34 1.32

Dividend

Metric INNV SRTA Medical Care Facilities median
Dividend yield — — 0.85%
Payout ratio 0.00 0.00 0.00

Size

Metric INNV SRTA Medical Care Facilities median
Market cap 1.21b 476.84m 1.34b

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