Flag Ship Acquisition Corp (PMI) vs Sanuwave Health Inc. (SNWV)

Flag Ship Acquisition Corp and Sanuwave Health Inc. are both Medical Devices companies. Flag Ship Acquisition Corp and Sanuwave Health Inc. are of similar size ($19.4M and $19.3M). Flag Ship Acquisition Corp has negative trailing earnings, so its P/E is not meaningful; Sanuwave Health Inc. trades at 1.2×. Flag Ship Acquisition Corp grew revenue faster over the last twelve months: 45.5% against 12.7%. Sanuwave Health Inc. has the higher net margin (34.7% vs −444.8%) and the higher return on invested capital (7.46% vs −410.8%). Across the 17 metrics below, Sanuwave Health Inc. leads on 13 and Flag Ship Acquisition Corp on 4.

Valuation

Metric PMI SNWV Medical Devices median
P/E n/m 1.24 24.94
P/S 2.65 0.43 2.66
P/B 9.73 6.79 2.36
Price to free cash flow n/m 2.02 28.12
EV/EBITDA n/m 8.49 11.42
EV/Sales 2.76 0.65 2.76
Earnings yield (227.33%) 80.91% (12.66%)
Free cash flow yield (96.05%) 49.52% (7.18%)

Profitability

Metric PMI SNWV Medical Devices median
Gross margin 18.62% 76.33% 57.76%
Operating margin (248.37%) 3.41% (14.84%)
Net margin (444.83%) 34.66% (14.45%)
Free cash flow margin (254.93%) 21.29% (5.70%)
Return on equity 106.08% (254.57%) (10.56%)
Return on assets (268.26%) 43.82% (17.26%)
Return on invested capital (410.80%) 7.46% (5.22%)

Growth

Metric PMI SNWV Medical Devices median
Revenue growth (TTM) 45.47% 12.67% 10.41%
EPS growth (last fiscal year) 74.92% 105.53% 28.17%
Revenue growth, 5-year CAGR — 61.12% 15.74%
Net income growth, 5-year CAGR — 0.00% 0.00%

Health

Metric PMI SNWV Medical Devices median
Debt to equity 0.41 6.88 0.04
Current ratio 1.02 1.28 2.67
Net debt to EBITDA 1.27 1.30 0.54

Dividend

Metric PMI SNWV Medical Devices median
Dividend yield — — 1.02%
Payout ratio — — 0.38

Size

Metric PMI SNWV Medical Devices median
Market cap 19.30m 19.35m 221.84m

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