Ionis Pharmaceuticals, Inc. (IONS) vs Vaxcyte, Inc. (PCVX)

Ionis Pharmaceuticals, Inc. and Vaxcyte, Inc. are both Biotechnology companies. Vaxcyte, Inc. is the larger, with a market value of $8.5B against $7.4B — 1.1× the size. Vaxcyte, Inc. has the higher net margin (0.00% vs −64.7%) and the lower return on invested capital (−57.3% vs 0.00%). Across the 14 metrics below, Ionis Pharmaceuticals, Inc. leads on 7 and Vaxcyte, Inc. on 7.

Valuation

Metric IONS PCVX Biotechnology median
P/E n/m n/m 7.88
P/S 8.42 n/m 11.47
P/B 16.74 2.95 2.52
Price to free cash flow n/m n/m 21.16
EV/EBITDA n/m n/m 0.74
EV/Sales 8.11 n/m 10.73
Earnings yield (7.78%) (13.57%) (28.84%)
Free cash flow yield (7.71%) (11.01%) (23.03%)

Profitability

Metric IONS PCVX Biotechnology median
Gross margin 98.17% 0.00% 65.16%
Operating margin (68.00%) 0.00% 0.00%
Net margin (64.66%) 0.00% 0.00%
Free cash flow margin (64.93%) 0.00% 0.00%
Return on equity (105.50%) (36.51%) (57.72%)
Return on assets (18.90%) (33.03%) (49.22%)
Return on invested capital 0.00% (57.30%) 0.00%

Growth

Metric IONS PCVX Biotechnology median
Revenue growth (TTM) (7.41%) — 5.64%
EPS growth (last fiscal year) 21.71% (48.16%) —
Revenue growth, 5-year CAGR 5.29% — 8.40%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric IONS PCVX Biotechnology median
Debt to equity 3.07 0.00 0.00
Current ratio 7.89 5.72 4.73
Net debt to EBITDA 2.39 1.71 0.96

Dividend

Metric IONS PCVX Biotechnology median
Dividend yield — — 2.10%
Payout ratio 0.00 0.00 0.00

Size

Metric IONS PCVX Biotechnology median
Market cap 7.39b 8.47b 162.10m

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