Shoulder Innovations, Inc. (SI) vs Treace Medical Concepts, Inc. (TMCI)

Shoulder Innovations, Inc. and Treace Medical Concepts, Inc. are both Medical Devices companies. Shoulder Innovations, Inc. is the larger, with a market value of $354.1M against $295.3M — 1.2× the size. Shoulder Innovations, Inc. grew revenue faster over the last twelve months: 62.9% against −3.95%. Treace Medical Concepts, Inc. has the higher net margin (−29.0% vs −58.3%) and the higher return on invested capital (−43.0% vs −54.7%). Across the 17 metrics below, Treace Medical Concepts, Inc. leads on 10 and Shoulder Innovations, Inc. on 7.

Valuation

Metric SI TMCI Medical Devices median
P/E n/m n/m 22.18
P/S 5.87 1.43 2.70
P/B 2.83 4.32 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 1.48 2.38
Earnings yield (11.30%) (20.67%) (8.22%)
Free cash flow yield (13.36%) (8.56%) (7.80%)

Profitability

Metric SI TMCI Medical Devices median
Gross margin 77.34% 79.45% 56.01%
Operating margin (58.53%) (26.17%) (15.03%)
Net margin (58.33%) (28.99%) (20.40%)
Free cash flow margin (78.39%) (12.20%) (7.24%)
Return on equity (151.89%) (71.99%) (15.32%)
Return on assets (30.49%) (30.72%) (19.72%)
Return on invested capital (54.72%) (42.96%) (10.33%)

Growth

Metric SI TMCI Medical Devices median
Revenue growth (TTM) 62.93% (3.95%) 8.80%
EPS growth (last fiscal year) 98.08% (3.33%) —
Revenue growth, 5-year CAGR — 29.96% 15.23%
Net income growth, 5-year CAGR — 0.00% 0.00%

Health

Metric SI TMCI Medical Devices median
Debt to equity 0.12 0.83 0.07
Current ratio 10.71 2.90 2.50
Net debt to EBITDA 4.79 (0.17) 0.49

Dividend

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

Size

Metric SI TMCI Medical Devices median
Market cap 354.13m 295.26m 172.91m

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