Ocular Therapeutix, Inc. (OCUL) vs Vericel Corporation (VCEL)

Ocular Therapeutix, Inc. and Vericel Corporation are both Biotechnology companies. Ocular Therapeutix, Inc. and Vericel Corporation are of similar size ($2.2B and $2.0B). Ocular Therapeutix, Inc. 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 −8.14%. Vericel Corporation has the higher net margin (7.91% vs −579.1%) and the higher return on invested capital (5.49% vs 0.00%). Across the 19 metrics below, Vericel Corporation leads on 15 and Ocular Therapeutix, Inc. on 4.

Valuation

Metric OCUL VCEL Biotechnology median
P/E n/m 82.63 7.88
P/S 41.70 6.61 11.47
P/B 4.17 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 31.60 6.36 10.73
Earnings yield (14.72%) 1.21% (28.84%)
Free cash flow yield (11.75%) 3.04% (23.03%)

Profitability

Metric OCUL VCEL Biotechnology median
Gross margin 87.11% 74.56% 65.16%
Operating margin (603.04%) 5.95% 0.00%
Net margin (579.10%) 7.91% 0.00%
Free cash flow margin (490.07%) 20.13% 0.00%
Return on equity (72.99%) 7.16% (57.72%)
Return on assets (53.70%) 5.16% (49.22%)
Return on invested capital 0.00% 5.49% 0.00%

Growth

Metric OCUL VCEL Biotechnology median
Revenue growth (TTM) (8.14%) 22.95% 5.64%
EPS growth (last fiscal year) (16.39%) 60.00% —
Revenue growth, 5-year CAGR 24.45% 17.34% 8.40%
Net income growth, 5-year CAGR 0.00% 41.97% 0.00%

Health

Metric OCUL VCEL Biotechnology median
Debt to equity 0.14 0.00 0.00
Current ratio 13.11 5.04 4.73
Net debt to EBITDA 2.51 (6.08) 0.96

Dividend

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

Size

Metric OCUL VCEL Biotechnology median
Market cap 2.16b 2.03b 162.10m

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