Replimune Group, Inc. (REPL) vs Zymeworks Inc. (ZYME)

Replimune Group, Inc. and Zymeworks Inc. are both Biotechnology companies. Replimune Group, Inc. and Zymeworks Inc. are of similar size ($2.2B and $2.2B). Replimune Group, Inc. has negative trailing earnings, so its P/E is not meaningful; Zymeworks Inc. trades at 43.7×. Zymeworks Inc. has the higher net margin (16.3% vs 0.00%) and the higher return on invested capital (17.5% vs −928.3%). Across the 14 metrics below, Zymeworks Inc. leads on 11 and Replimune Group, Inc. on 3.

Valuation

Metric REPL ZYME Biotechnology median
P/E n/m 43.69 11.58
P/S n/m 7.83 9.61
P/B 11.24 8.06 2.26
Price to free cash flow n/m n/m 26.41
EV/EBITDA n/m 36.88 0.72
EV/Sales n/m 7.45 9.43
Earnings yield (12.77%) 2.29% (32.28%)
Free cash flow yield (10.68%) (5.46%) (22.27%)

Profitability

Metric REPL ZYME Biotechnology median
Gross margin 0.00% 51.40% 68.81%
Operating margin 0.00% 16.60% 0.00%
Net margin 0.00% 16.28% 0.00%
Free cash flow margin 0.00% (42.42%) 0.00%
Return on equity (115.80%) 14.98% (50.30%)
Return on assets (71.01%) 5.50% (45.47%)
Return on invested capital (928.27%) 17.49% 0.00%

Growth

Metric REPL ZYME Biotechnology median
Revenue growth (TTM) — 97.78% 6.78%
EPS growth (last fiscal year) (10.10%) 33.33% 29.88%
Revenue growth, 5-year CAGR — 22.16% 9.75%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric REPL ZYME Biotechnology median
Debt to equity 0.59 0.00 0.00
Current ratio 7.11 3.30 4.74
Net debt to EBITDA 0.51 2.81 1.01

Dividend

Metric REPL ZYME Biotechnology median
Dividend yield — — 0.39%
Payout ratio — — —

Size

Metric REPL ZYME Biotechnology median
Market cap 2.21b 2.23b 168.63m

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