Mesoblast Limited (MESO) vs Vericel Corporation (VCEL)

Mesoblast Limited and Vericel Corporation are both Biotechnology companies. Mesoblast Limited and Vericel Corporation are of similar size ($2.0B and $2.0B). Mesoblast Limited has negative trailing earnings, so its P/E is not meaningful; Vericel Corporation trades at 82.6×. Vericel Corporation grew revenue faster over the last twelve months: 23.0% against −26.5%. Vericel Corporation has the higher net margin (7.91% vs −1,091.7%) and the higher return on invested capital (5.49% vs 0.00%). Across the 19 metrics below, Vericel Corporation leads on 17 and Mesoblast Limited on 2.

Valuation

Metric MESO VCEL Biotechnology median
P/E n/m 82.63 7.88
P/S 156.77 6.61 11.47
P/B 2.05 5.47 2.52
Price to free cash flow n/m 32.85 21.16
EV/EBITDA n/m 62.29 0.74
EV/Sales 156.35 6.36 10.73
Earnings yield (7.41%) 1.21% (28.84%)
Free cash flow yield (8.05%) 3.04% (23.03%)

Profitability

Metric MESO VCEL Biotechnology median
Gross margin (269.72%) 74.56% 65.16%
Operating margin (826.28%) 5.95% 0.00%
Net margin (1,091.71%) 7.91% 0.00%
Free cash flow margin 0.00% 20.13% 0.00%
Return on equity 0.00% 7.16% (57.72%)
Return on assets 0.00% 5.16% (49.22%)
Return on invested capital 0.00% 5.49% 0.00%

Growth

Metric MESO VCEL Biotechnology median
Revenue growth (TTM) (26.54%) 22.95% 5.64%
EPS growth (last fiscal year) 48.24% 60.00% —
Revenue growth, 5-year CAGR 74.39% 17.34% 8.40%
Net income growth, 5-year CAGR 0.00% 41.97% 0.00%

Health

Metric MESO VCEL Biotechnology median
Debt to equity 0.22 0.00 0.00
Current ratio 1.58 5.04 4.73
Net debt to EBITDA (0.67) (6.08) 0.96

Dividend

Metric MESO VCEL Biotechnology median
Dividend yield — — 2.10%
Payout ratio 0.00 0.00 0.00

Size

Metric MESO VCEL Biotechnology median
Market cap 2.01b 2.03b 162.10m

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