Madrigal Pharmaceuticals, Inc. (MDGL) vs Protagonist Therapeutics, Inc. (PTGX)

Madrigal Pharmaceuticals, Inc. and Protagonist Therapeutics, Inc. are both Biotechnology companies. Madrigal Pharmaceuticals, Inc. and Protagonist Therapeutics, Inc. are of similar size ($9.9B and $9.4B). Madrigal Pharmaceuticals, Inc. has negative trailing earnings, so its P/E is not meaningful; Protagonist Therapeutics, Inc. trades at 115×. Madrigal Pharmaceuticals, Inc. grew revenue faster over the last twelve months: 149.0% against 34.8%. Protagonist Therapeutics, Inc. has the higher net margin (29.4% vs −25.3%) and the higher return on invested capital (61.8% vs −787.3%). Across the 17 metrics below, Protagonist Therapeutics, Inc. leads on 12 and Madrigal Pharmaceuticals, Inc. on 5.

Valuation

Metric MDGL PTGX Biotechnology median
P/E n/m 114.99 10.71
P/S 9.84 32.80 9.84
P/B 24.12 10.99 2.15
Price to free cash flow n/m 70.84 25.78
EV/EBITDA n/m 150.36 0.65
EV/Sales 9.45 30.06 9.47
Earnings yield (2.97%) 0.87% (34.53%)
Free cash flow yield (1.66%) 1.41% (24.00%)

Profitability

Metric MDGL PTGX Biotechnology median
Gross margin 91.48% 100.00% 69.20%
Operating margin (25.13%) 20.69% 0.00%
Net margin (25.32%) 29.40% 0.00%
Free cash flow margin (16.07%) 46.31% 0.00%
Return on equity (53.31%) 10.98% (53.10%)
Return on assets (28.77%) 10.34% (46.06%)
Return on invested capital (787.33%) 61.84% 0.00%

Growth

Metric MDGL PTGX Biotechnology median
Revenue growth (TTM) 149.04% 34.81% 5.26%
EPS growth (last fiscal year) 41.32% (148.46%) 29.88%
Revenue growth, 5-year CAGR — 9.96% 9.75%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric MDGL PTGX Biotechnology median
Debt to equity 0.65 0.00 0.00
Current ratio 3.20 21.71 4.98
Net debt to EBITDA 2.21 3.49 1.01

Dividend

Metric MDGL PTGX Biotechnology median
Dividend yield — — 0.39%
Payout ratio — — —

Size

Metric MDGL PTGX Biotechnology median
Market cap 9.94b 9.37b 171.46m

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