Pulse Biosciences, Inc (PLSE) vs Warby Parker Inc. (WRBY)

Pulse Biosciences, Inc and Warby Parker Inc. are both Medical Instruments & Supplies companies. Pulse Biosciences, Inc and Warby Parker Inc. are of similar size ($3.3B and $3.0B). Pulse Biosciences, Inc has negative trailing earnings, so its P/E is not meaningful; Warby Parker Inc. trades at 334×. Warby Parker Inc. grew revenue faster over the last twelve months: 11.0% against −23.3%. Warby Parker Inc. has the higher net margin (0.85% vs −6,755.8%) and the higher return on invested capital (0.98% vs 0.00%). Across the 16 metrics below, Warby Parker Inc. leads on 15 and Pulse Biosciences, Inc on 1.

Valuation

Metric PLSE WRBY Medical Instruments & Supplies median
P/E n/m 334.29 33.75
P/S 2,585.22 3.18 2.52
P/B 30.79 7.40 2.48
Price to free cash flow n/m 133.36 25.19
EV/EBITDA n/m 44.19 14.62
EV/Sales 2,554.99 2.86 2.88
Earnings yield (2.67%) 0.30% (2.67%)
Free cash flow yield (2.00%) 0.75% 0.09%

Profitability

Metric PLSE WRBY Medical Instruments & Supplies median
Gross margin 0.25% 54.68% 54.29%
Operating margin (7,007.76%) 0.17% 1.07%
Net margin (6,755.78%) 0.85% (1.61%)
Free cash flow margin (5,180.42%) 2.39% 1.08%
Return on equity (78.49%) 2.06% (1.32%)
Return on assets (67.90%) 1.05% 0.00%
Return on invested capital 0.00% 0.98% 0.00%

Growth

Metric PLSE WRBY Medical Instruments & Supplies median
Revenue growth (TTM) (23.25%) 10.99% 8.85%
EPS growth (last fiscal year) (17.39%) 105.88% 8.65%
Revenue growth, 5-year CAGR — 17.23% 9.17%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric PLSE WRBY Medical Instruments & Supplies median
Debt to equity 0.00 0.00 0.10
Current ratio 9.63 2.27 2.48
Net debt to EBITDA 1.06 (5.92) 0.89

Dividend

Metric PLSE WRBY Medical Instruments & Supplies median
Dividend yield — — 1.11%
Payout ratio — — 0.27

Size

Metric PLSE WRBY Medical Instruments & Supplies median
Market cap 3.31b 3.04b 619.84m

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