Protagonist Therapeutics, Inc. (PTGX) vs Spyre Therapeutics, Inc. (SYRE)

Protagonist Therapeutics, Inc. and Spyre Therapeutics, Inc. are both Biotechnology companies. Protagonist Therapeutics, Inc. is the larger, with a market value of $8.8B against $7.4B — 1.2× the size. Spyre Therapeutics, Inc. has negative trailing earnings, so its P/E is not meaningful; Protagonist Therapeutics, Inc. trades at 106×. Protagonist Therapeutics, Inc. grew revenue faster over the last twelve months: 34.8% against −81.8%. Protagonist Therapeutics, Inc. has the higher net margin (29.4% vs 0.00%) and the higher return on invested capital (61.8% vs 0.00%). Across the 16 metrics below, Protagonist Therapeutics, Inc. leads on 14 and Spyre Therapeutics, Inc. on 2.

Valuation

Metric PTGX SYRE Biotechnology median
P/E 105.53 n/m 8.50
P/S 30.10 6,423.00 9.71
P/B 10.09 7.09 2.13
Price to free cash flow 65.01 n/m 20.82
EV/EBITDA 136.87 n/m 0.64
EV/Sales 27.36 5,336.34 9.21
Earnings yield 0.95% (2.67%) (33.15%)
Free cash flow yield 1.54% (3.08%) (25.50%)

Profitability

Metric PTGX SYRE Biotechnology median
Gross margin 100.00% 100.00% 65.16%
Operating margin 20.69% 0.00% 0.00%
Net margin 29.40% 0.00% 0.00%
Free cash flow margin 46.31% 0.00% 0.00%
Return on equity 10.98% (28.52%) (56.36%)
Return on assets 10.34% (20.90%) (48.04%)
Return on invested capital 61.84% 0.00% 0.00%

Growth

Metric PTGX SYRE Biotechnology median
Revenue growth (TTM) 34.81% (81.84%) 6.02%
EPS growth (last fiscal year) (148.46%) 55.24% 30.26%
Revenue growth, 5-year CAGR 9.96% (28.15%) 9.41%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric PTGX SYRE Biotechnology median
Debt to equity 0.00 0.00 0.00
Current ratio 21.71 18.53 4.72
Net debt to EBITDA 3.49 3.61 0.96

Dividend

Metric PTGX SYRE Biotechnology median
Dividend yield — — 0.09%
Payout ratio — — —

Size

Metric PTGX SYRE Biotechnology median
Market cap 8.84b 7.39b 135.18m

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