Standard BioTools Inc. (LAB) vs Treace Medical Concepts, Inc. (TMCI)

Standard BioTools Inc. and Treace Medical Concepts, Inc. are both Medical Devices companies. Treace Medical Concepts, Inc. is the larger, with a market value of $271.9M against $245.7M — 1.1× the size. Treace Medical Concepts, Inc. has negative trailing earnings, so its P/E is not meaningful; Standard BioTools Inc. trades at 1.8×. Standard BioTools Inc. grew revenue faster over the last twelve months: 35.3% against −3.95%. Standard BioTools Inc. has the higher net margin (157.6% vs −29.0%) and the lower return on invested capital (−54.2% vs −43.0%). Across the 18 metrics below, Standard BioTools Inc. leads on 10 and Treace Medical Concepts, Inc. on 8.

Valuation

Metric LAB TMCI Medical Devices median
P/E 1.80 n/m 25.58
P/S 2.89 1.31 2.54
P/B 0.44 3.98 2.48
Price to free cash flow n/m n/m 28.81
EV/EBITDA 2.63 n/m 11.51
EV/Sales (2.51) 1.37 2.72
Earnings yield 55.53% (22.46%) (12.82%)
Free cash flow yield (29.61%) (9.30%) (8.18%)

Profitability

Metric LAB TMCI Medical Devices median
Gross margin 52.18% 79.45% 57.76%
Operating margin (97.47%) (26.17%) (15.07%)
Net margin 157.62% (28.99%) (14.45%)
Free cash flow margin (77.76%) (12.20%) (3.88%)
Return on equity 27.86% (71.99%) (10.35%)
Return on assets 22.65% (30.72%) (17.26%)
Return on invested capital (54.18%) (42.96%) (5.27%)

Growth

Metric LAB TMCI Medical Devices median
Revenue growth (TTM) 35.25% (3.95%) 10.41%
EPS growth (last fiscal year) 61.54% (3.33%) 28.17%
Revenue growth, 5-year CAGR (9.19%) 29.96% 15.74%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric LAB TMCI Medical Devices median
Debt to equity 0.00 0.83 0.04
Current ratio 9.75 2.90 2.74
Net debt to EBITDA 1.84 (0.17) 0.54

Dividend

Metric LAB TMCI Medical Devices median
Dividend yield — — 1.02%
Payout ratio — — 0.37

Size

Metric LAB TMCI Medical Devices median
Market cap 245.72m 271.85m 239.53m

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