Pacific Biosciences of California, Inc. (PACB) vs VAREX IMAGING (VREX)

Pacific Biosciences of California, Inc. and VAREX IMAGING are both Medical Devices companies. VAREX IMAGING is the larger, with a market value of $784.3M against $609.2M — 1.3× the size. Pacific Biosciences of California, Inc. has negative trailing earnings, so its P/E is not meaningful; VAREX IMAGING trades at 34.7×. VAREX IMAGING grew revenue faster over the last twelve months: 5.31% against 2.02%. VAREX IMAGING has the higher net margin (2.55% vs −82.5%) and the higher return on invested capital (5.95% vs −22.2%). Across the 17 metrics below, VAREX IMAGING leads on 12 and Pacific Biosciences of California, Inc. on 5.

Valuation

Metric PACB VREX Medical Devices median
P/E n/m 34.74 23.22
P/S 3.37 0.90 2.34
P/B n/m 1.52 2.33
Price to free cash flow n/m n/m 23.72
EV/EBITDA n/m 10.13 11.54
EV/Sales 5.93 1.18 2.24
Earnings yield (24.86%) 2.88% (10.09%)
Free cash flow yield (14.97%) (2.61%) (8.47%)

Profitability

Metric PACB VREX Medical Devices median
Gross margin 36.38% 34.32% 56.01%
Operating margin (83.53%) 8.35% (15.03%)
Net margin (82.49%) 2.55% (20.40%)
Free cash flow margin (50.53%) (2.34%) (7.24%)
Return on equity (929.31%) 4.51% (15.32%)
Return on assets (16.66%) 2.03% (19.72%)
Return on invested capital (22.22%) 5.95% (10.33%)

Growth

Metric PACB VREX Medical Devices median
Revenue growth (TTM) 2.02% 5.31% 8.80%
EPS growth (last fiscal year) (69.38%) (45.30%) 29.03%
Revenue growth, 5-year CAGR 15.19% 2.73% 15.47%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric PACB VREX Medical Devices median
Debt to equity (19.40) 0.68 0.07
Current ratio 4.92 3.38 2.50
Net debt to EBITDA (2.33) 2.21 0.49

Dividend

Metric PACB VREX Medical Devices median
Dividend yield — — 1.16%
Payout ratio — — 0.36

Size

Metric PACB VREX Medical Devices median
Market cap 609.23m 784.30m 167.06m

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