Phathom Pharmaceuticals, Inc. (PHAT) vs WAVE Life Sciences Ltd. (WVE)

Phathom Pharmaceuticals, Inc. and WAVE Life Sciences Ltd. are both Biotechnology companies. Phathom Pharmaceuticals, Inc. and WAVE Life Sciences Ltd. are of similar size ($628.6M and $606.8M). Phathom Pharmaceuticals, Inc. grew revenue faster over the last twelve months: 110.2% against −30.4%. Phathom Pharmaceuticals, Inc. has the higher net margin (−41.3% vs −309.7%) and the higher return on invested capital (0.00% vs 0.00%). Across the 15 metrics below, Phathom Pharmaceuticals, Inc. leads on 12 and WAVE Life Sciences Ltd. on 3.

Valuation

Metric PHAT WVE Biotechnology median
P/E n/m n/m 8.50
P/S 2.42 9.74 9.71
P/B n/m 1.40 2.13
Price to free cash flow n/m n/m 20.82
EV/EBITDA n/m n/m 0.64
EV/Sales 2.39 2.23 9.21
Earnings yield (18.50%) (34.94%) (33.15%)
Free cash flow yield (6.37%) (30.34%) (25.50%)

Profitability

Metric PHAT WVE Biotechnology median
Gross margin 82.92% 100.00% 65.16%
Operating margin (16.96%) (333.36%) 0.00%
Net margin (41.34%) (309.73%) 0.00%
Free cash flow margin (15.40%) (295.46%) 0.00%
Return on equity 26.42% (68.31%) (56.36%)
Return on assets (34.32%) (49.95%) (48.04%)
Return on invested capital 0.00% 0.00% 0.00%

Growth

Metric PHAT WVE Biotechnology median
Revenue growth (TTM) 110.16% (30.42%) 6.02%
EPS growth (last fiscal year) 42.72% (72.86%) 30.26%
Revenue growth, 5-year CAGR — 16.31% 9.41%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric PHAT WVE Biotechnology median
Debt to equity (0.48) 0.00 0.00
Current ratio 1.92 9.99 4.72
Net debt to EBITDA (0.51) 2.92 0.96

Dividend

Metric PHAT WVE Biotechnology median
Dividend yield — — 0.09%
Payout ratio — — —

Size

Metric PHAT WVE Biotechnology median
Market cap 606.76m 628.58m 135.18m

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