iRhythm Holdings, Inc. (IRTC) vs LivaNova PLC (LIVN)

iRhythm Holdings, Inc. and LivaNova PLC are both Medical Devices companies. LivaNova PLC is the larger, with a market value of $4.2B against $3.7B — 1.1× the size. iRhythm Holdings, Inc. has negative trailing earnings, so its P/E is not meaningful; LivaNova PLC trades at 22.2×. iRhythm Holdings, Inc. grew revenue faster over the last twelve months: 25.6% against 12.4%. LivaNova PLC has the higher net margin (12.8% vs −1.69%) and the higher return on invested capital (10.6% vs −6.32%). Across the 20 metrics below, LivaNova PLC leads on 14 and iRhythm Holdings, Inc. on 6.

Valuation

Metric IRTC LIVN Medical Devices median
P/E n/m 22.18 22.18
P/S 4.40 2.86 2.70
P/B 19.52 3.17 2.46
Price to free cash flow 93.15 27.63 22.53
EV/EBITDA 2,470.56 14.61 11.78
EV/Sales 4.49 2.71 2.38
Earnings yield (0.39%) 4.51% (8.22%)
Free cash flow yield 1.07% 3.62% (7.80%)

Profitability

Metric IRTC LIVN Medical Devices median
Gross margin 71.45% 68.10% 56.01%
Operating margin (3.01%) 12.74% (15.03%)
Net margin (1.69%) 12.81% (20.40%)
Free cash flow margin 4.72% 10.57% (7.24%)
Return on equity (9.63%) 15.40% (15.32%)
Return on assets (1.36%) 7.33% (19.72%)
Return on invested capital (6.32%) 10.63% (10.33%)

Growth

Metric IRTC LIVN Medical Devices median
Revenue growth (TTM) 25.58% 12.39% 8.80%
EPS growth (last fiscal year) 61.71% (483.62%) —
Revenue growth, 5-year CAGR 23.02% 8.24% 15.23%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric IRTC LIVN Medical Devices median
Debt to equity 3.50 0.22 0.07
Current ratio 3.86 1.45 2.50
Net debt to EBITDA (2.12) (0.92) 0.49

Dividend

Metric IRTC LIVN Medical Devices median
Dividend yield — — 0.94%
Payout ratio 0.00 0.00 0.00

Size

Metric IRTC LIVN Medical Devices median
Market cap 3.65b 4.16b 172.91m

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