Shoulder Innovations, Inc. (SI) vs TriSalus Life Sciences, Inc. (TLSI)

Shoulder Innovations, Inc. and TriSalus Life Sciences, Inc. are both Medical Devices companies. Shoulder Innovations, Inc. is the larger, with a market value of $354.1M against $303.6M — 1.2× the size. Shoulder Innovations, Inc. grew revenue faster over the last twelve months: 62.9% against 25.3%. Shoulder Innovations, Inc. has the higher net margin (−58.3% vs −127.0%) and the lower return on invested capital (−54.7% vs 0.00%). Across the 17 metrics below, Shoulder Innovations, Inc. leads on 10 and TriSalus Life Sciences, Inc. on 7.

Valuation

Metric SI TLSI Medical Devices median
P/E n/m n/m 22.18
P/S 5.87 5.61 2.70
P/B 2.83 38.63 2.46
Price to free cash flow n/m n/m 22.53
EV/EBITDA n/m n/m 11.78
EV/Sales 4.46 5.33 2.38
Earnings yield (11.30%) (29.95%) (8.22%)
Free cash flow yield (13.36%) (9.48%) (7.80%)

Profitability

Metric SI TLSI Medical Devices median
Gross margin 77.34% 85.79% 56.01%
Operating margin (58.53%) (67.68%) (15.03%)
Net margin (58.33%) (127.00%) (20.40%)
Free cash flow margin (78.39%) (51.56%) (7.24%)
Return on equity (151.89%) 889.44% (15.32%)
Return on assets (30.49%) (110.34%) (19.72%)
Return on invested capital (54.72%) 0.00% (10.33%)

Growth

Metric SI TLSI Medical Devices median
Revenue growth (TTM) 62.93% 25.25% 8.80%
EPS growth (last fiscal year) 98.08% (40.46%) —
Revenue growth, 5-year CAGR — — 15.23%
Net income growth, 5-year CAGR — 0.00% 0.00%

Health

Metric SI TLSI Medical Devices median
Debt to equity 0.12 5.05 0.07
Current ratio 10.71 5.35 2.50
Net debt to EBITDA 4.79 (0.50) 0.49

Dividend

Metric SI TLSI Medical Devices median
Dividend yield — — 0.94%
Payout ratio — 0.00 0.00

Size

Metric SI TLSI Medical Devices median
Market cap 354.13m 303.56m 172.91m

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