Moderna, Inc. (MRNA) vs Vertex Pharmaceuticals Incorporated (VRTX)

Moderna, Inc. and Vertex Pharmaceuticals Incorporated are both Biotechnology companies. Vertex Pharmaceuticals Incorporated is the larger, with a market value of $132.3B against $78.8B — 1.7× the size. Moderna, Inc. has negative trailing earnings, so its P/E is not meaningful; Vertex Pharmaceuticals Incorporated trades at 30.4×. Vertex Pharmaceuticals Incorporated grew revenue faster over the last twelve months: 10.2% against −27.6%. Vertex Pharmaceuticals Incorporated has the higher net margin (35.0% vs −141.4%) and the higher return on invested capital (24.1% vs −93.5%). Across the 19 metrics below, Vertex Pharmaceuticals Incorporated leads on 18 and Moderna, Inc. on 1.

Valuation

Metric MRNA VRTX Biotechnology median
P/E n/m 30.36 7.88
P/S 35.53 10.61 11.47
P/B 11.71 6.59 2.52
Price to free cash flow n/m 35.17 21.16
EV/EBITDA n/m 25.17 0.74
EV/Sales 33.49 10.00 10.73
Earnings yield (4.02%) 3.29% (28.84%)
Free cash flow yield (1.57%) 2.84% (23.03%)

Profitability

Metric MRNA VRTX Biotechnology median
Gross margin 23.38% 86.00% 65.16%
Operating margin (149.01%) 37.95% 0.00%
Net margin (141.43%) 35.00% 0.00%
Free cash flow margin (55.83%) 30.16% 0.00%
Return on equity (39.00%) 23.54% (57.72%)
Return on assets (27.43%) 17.12% (49.22%)
Return on invested capital (93.47%) 24.09% 0.00%

Growth

Metric MRNA VRTX Biotechnology median
Revenue growth (TTM) (27.62%) 10.23% 5.64%
EPS growth (last fiscal year) 21.77% 836.54% —
Revenue growth, 5-year CAGR 19.34% 14.10% 8.40%
Net income growth, 5-year CAGR 0.00% 7.83% 0.00%

Health

Metric MRNA VRTX Biotechnology median
Debt to equity 0.09 0.00 0.00
Current ratio 2.29 3.19 4.73
Net debt to EBITDA 1.77 (1.51) 0.96

Dividend

Metric MRNA VRTX Biotechnology median
Dividend yield — — 2.10%
Payout ratio 0.00 0.00 0.00

Size

Metric MRNA VRTX Biotechnology median
Market cap 78.77b 132.32b 162.10m

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