Neurocrine Biosciences, Inc. (NBIX) vs Viatris Inc. (VTRS)

Neurocrine Biosciences, Inc. and Viatris Inc. are both Drug Manufacturers Specialty & Generic companies. Viatris Inc. is the larger, with a market value of $21.8B against $16.2B — 1.3× the size. Viatris Inc. has negative trailing earnings, so its P/E is not meaningful; Neurocrine Biosciences, Inc. trades at 23.0×. Neurocrine Biosciences, Inc. grew revenue faster over the last twelve months: 38.0% against 4.27%. Neurocrine Biosciences, Inc. has the higher net margin (19.0% vs −4.13%) and the higher return on invested capital (17.7% vs −0.02%). Across the 21 metrics below, Neurocrine Biosciences, Inc. leads on 15 and Viatris Inc. on 6.

Valuation

Metric NBIX VTRS Drug Manufacturers Specialty & Generic median
P/E 23.01 n/m 20.55
P/S 4.40 1.49 2.08
P/B 4.20 1.61 1.79
Price to free cash flow 15.68 10.69 16.29
EV/EBITDA 16.51 12.34 12.22
EV/Sales 4.35 2.28 2.87
Earnings yield 4.35% (2.81%) (15.94%)
Free cash flow yield 6.38% 9.35% 0.00%

Profitability

Metric NBIX VTRS Drug Manufacturers Specialty & Generic median
Gross margin 97.75% 35.31% 53.51%
Operating margin 23.96% (0.03%) 0.00%
Net margin 18.98% (4.13%) (2.45%)
Free cash flow margin 28.09% 16.27% 0.00%
Return on equity 20.41% (4.21%) (0.80%)
Return on assets 14.20% (1.67%) (1.67%)
Return on invested capital 17.65% (0.02%) 0.00%

Growth

Metric NBIX VTRS Drug Manufacturers Specialty & Generic median
Revenue growth (TTM) 37.98% 4.27% 5.22%
EPS growth (last fiscal year) 41.95% (466.04%) 42.91%
Revenue growth, 5-year CAGR 22.29% 3.66% 7.24%
Net income growth, 5-year CAGR 3.28% 0.00% 0.00%

Health

Metric NBIX VTRS Drug Manufacturers Specialty & Generic median
Debt to equity 0.00 0.13 0.04
Current ratio 2.04 1.55 2.41
Net debt to EBITDA (2.33) 4.92 1.01

Dividend

Metric NBIX VTRS Drug Manufacturers Specialty & Generic median
Dividend yield — 2.54% 1.45%
Payout ratio — — 0.27

Size

Metric NBIX VTRS Drug Manufacturers Specialty & Generic median
Market cap 16.17b 21.79b 315.39m

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