SiBone (SIBN) vs VAREX IMAGING (VREX)

SiBone and VAREX IMAGING are both Medical Devices companies. SiBone and VAREX IMAGING are of similar size ($830.0M and $784.3M). SiBone has negative trailing earnings, so its P/E is not meaningful; VAREX IMAGING trades at 34.8×. SiBone grew revenue faster over the last twelve months: 15.3% against 5.31%. VAREX IMAGING has the higher net margin (2.55% vs −6.85%) and the higher return on invested capital (5.95% vs −15.4%). Across the 18 metrics below, VAREX IMAGING leads on 10 and SiBone on 8.

Valuation

Metric SIBN VREX Medical Devices median
P/E n/m 34.81 22.18
P/S 3.87 0.90 2.70
P/B 4.53 1.52 2.46
Price to free cash flow n/m n/m 22.53
EV/EBITDA n/m 10.15 11.78
EV/Sales 3.36 1.18 2.38
Earnings yield (1.83%) 2.87% (8.22%)
Free cash flow yield (0.53%) (2.60%) (7.80%)

Profitability

Metric SIBN VREX Medical Devices median
Gross margin 79.53% 34.32% 56.01%
Operating margin (8.31%) 8.35% (15.03%)
Net margin (6.85%) 2.55% (20.40%)
Free cash flow margin (2.05%) (2.34%) (7.24%)
Return on equity (8.30%) 4.51% (15.32%)
Return on assets (6.10%) 2.03% (19.72%)
Return on invested capital (15.40%) 5.95% (10.33%)

Growth

Metric SIBN VREX Medical Devices median
Revenue growth (TTM) 15.30% 5.31% 8.80%
EPS growth (last fiscal year) 41.33% (45.30%) —
Revenue growth, 5-year CAGR 22.32% 2.73% 15.23%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric SIBN VREX Medical Devices median
Debt to equity 0.20 0.68 0.07
Current ratio 9.15 3.38 2.50
Net debt to EBITDA 5.76 2.21 0.49

Dividend

Metric SIBN VREX Medical Devices median
Dividend yield — — 0.94%
Payout ratio 0.00 0.00 0.00

Size

Metric SIBN VREX Medical Devices median
Market cap 830.04m 784.30m 172.91m

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