Natera, Inc. (NTRA) vs Thermo Fisher Scientific Inc. (TMO)

Natera, Inc. and Thermo Fisher Scientific Inc. are both Diagnostics & Research companies. Thermo Fisher Scientific Inc. is the larger, with a market value of $250.8B against $52.4B — 4.8× the size. Natera, Inc. has negative trailing earnings, so its P/E is not meaningful; Thermo Fisher Scientific Inc. trades at 35.8×. Natera, Inc. grew revenue faster over the last twelve months: 37.4% against 8.27%. Thermo Fisher Scientific Inc. has the higher net margin (14.9% vs −5.66%) and the higher return on invested capital (6.03% vs −8.35%). Across the 20 metrics below, Thermo Fisher Scientific Inc. leads on 16 and Natera, Inc. on 4.

Valuation

Metric NTRA TMO Diagnostics & Research median
P/E n/m 35.78 34.52
P/S 18.12 5.31 4.24
P/B 28.19 4.59 3.42
Price to free cash flow 1,004.35 32.92 33.51
EV/EBITDA n/m 24.58 23.44
EV/Sales 17.87 6.01 5.18
Earnings yield (0.31%) 2.79% (1.50%)
Free cash flow yield 0.10% 3.04% 0.00%

Profitability

Metric NTRA TMO Diagnostics & Research median
Gross margin 0.00% 41.08% 48.32%
Operating margin (8.95%) 17.89% (5.68%)
Net margin (5.66%) 14.94% (4.10%)
Free cash flow margin 1.80% 16.13% 0.00%
Return on equity (10.55%) 13.37% 0.00%
Return on assets (7.21%) 6.51% (6.05%)
Return on invested capital (8.35%) 6.03% 0.00%

Growth

Metric NTRA TMO Diagnostics & Research median
Revenue growth (TTM) 37.43% 8.27% 8.99%
EPS growth (last fiscal year) 0.65% 7.32% 20.36%
Revenue growth, 5-year CAGR 42.61% 6.70% 7.30%
Net income growth, 5-year CAGR 0.00% 1.01% 0.00%

Health

Metric NTRA TMO Diagnostics & Research median
Debt to equity 0.04 0.71 0.01
Current ratio 2.81 1.81 2.27
Net debt to EBITDA 3.74 2.45 0.68

Dividend

Metric NTRA TMO Diagnostics & Research median
Dividend yield — 0.27% 0.67%
Payout ratio — 0.10 0.20

Size

Metric NTRA TMO Diagnostics & Research median
Market cap 52.43b 250.82b 2.22b

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