Lipocine Inc. (LPCN) vs Palatin Technologies, Inc. (PTN)

Lipocine Inc. and Palatin Technologies, Inc. are both Biotechnology companies. Lipocine Inc. and Palatin Technologies, Inc. are of similar size ($17.5M and $17.2M). Lipocine Inc. has negative trailing earnings, so its P/E is not meaningful; Palatin Technologies, Inc. trades at 2.4×. Palatin Technologies, Inc. grew revenue faster over the last twelve months: 86.5% against −63.5%. Palatin Technologies, Inc. has the higher net margin (−47.2% vs −755.1%) and the lower return on invested capital (−942.3% vs 0.00%). Across the 16 metrics below, Palatin Technologies, Inc. leads on 9 and Lipocine Inc. on 7.

Valuation

Metric LPCN PTN Biotechnology median
P/E n/m 2.43 7.88
P/S 10.99 2.99 11.47
P/B 0.79 3.73 2.52
Price to free cash flow n/m n/m 21.16
EV/EBITDA 0.24 n/m 0.74
EV/Sales (1.97) 2.23 10.73
Earnings yield (89.05%) 41.20% (28.84%)
Free cash flow yield (65.43%) (37.93%) (23.03%)

Profitability

Metric LPCN PTN Biotechnology median
Gross margin 100.00% 100.00% 65.16%
Operating margin (800.80%) (49.26%) 0.00%
Net margin (755.11%) (47.22%) 0.00%
Free cash flow margin (713.02%) (113.25%) 0.00%
Return on equity (60.94%) (297.25%) (57.72%)
Return on assets (55.89%) (73.72%) (49.22%)
Return on invested capital 0.00% (942.30%) 0.00%

Growth

Metric LPCN PTN Biotechnology median
Revenue growth (TTM) (63.48%) 86.46% 5.64%
EPS growth (last fiscal year) (93,988.89%) 68.15% —
Revenue growth, 5-year CAGR 64.32% (40.52%) 8.40%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric LPCN PTN Biotechnology median
Debt to equity 0.00 0.00 0.00
Current ratio 11.48 5.04 4.73
Net debt to EBITDA 1.42 0.15 0.96

Dividend

Metric LPCN PTN Biotechnology median
Dividend yield — — 2.10%
Payout ratio 0.00 0.00 0.00

Size

Metric LPCN PTN Biotechnology median
Market cap 17.23m 17.49m 162.10m

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