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 is the larger, with a market value of $3.9B against $3.2B — 1.2× the size. Pulse Biosciences, Inc has negative trailing earnings, so its P/E is not meaningful; Warby Parker Inc. trades at 434×. Pulse Biosciences, Inc grew revenue faster over the last twelve months: 90.1% against 9.89%. Warby Parker Inc. has the higher net margin (0.80% vs −5,609.4%) and the higher return on invested capital (0.83% vs −37.0%). Across the 16 metrics below, Warby Parker Inc. leads on 14 and Pulse Biosciences, Inc on 2.

Valuation

Metric PLSE WRBY Medical Instruments & Supplies median
P/E n/m 434.17 30.28
P/S 2,558.93 3.48 2.49
P/B 20.83 8.05 2.34
Price to free cash flow n/m 152.61 23.49
EV/EBITDA n/m 50.18 14.87
EV/Sales 2,578.39 3.17 2.75
Earnings yield (2.28%) 0.23% 0.00%
Free cash flow yield (5.65%) 0.66% 0.59%

Profitability

Metric PLSE WRBY Medical Instruments & Supplies median
Gross margin 26.77% 54.75% 53.60%
Operating margin (5,821.08%) 0.16% 1.97%
Net margin (5,609.44%) 0.80% 0.00%
Free cash flow margin (14,462.52%) 2.28% 2.36%
Return on equity (60.67%) 1.93% 0.00%
Return on assets (54.01%) 1.00% 0.00%
Return on invested capital (37.01%) 0.83% 0.13%

Growth

Metric PLSE WRBY Medical Instruments & Supplies median
Revenue growth (TTM) 90.08% 9.89% 8.97%
EPS growth (last fiscal year) (17.39%) 105.88% 6.51%
Revenue growth, 5-year CAGR — 17.23% 8.85%
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 14.35 2.26 2.47
Net debt to EBITDA 1.06 (5.92) 0.97

Dividend

Metric PLSE WRBY Medical Instruments & Supplies median
Dividend yield — — 1.02%
Payout ratio — — 0.27

Size

Metric PLSE WRBY Medical Instruments & Supplies median
Market cap 3.86b 3.22b 1.71b

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