Sanuwave Health Inc. (SNWV) vs TELA Bio, Inc. (TELA)

Sanuwave Health Inc. and TELA Bio, Inc. are both Medical Devices companies. Sanuwave Health Inc. and TELA Bio, Inc. are of similar size ($45.6M and $44.5M). TELA Bio, Inc. has negative trailing earnings, so its P/E is not meaningful; Sanuwave Health Inc. trades at 3.0×. Sanuwave Health Inc. grew revenue faster over the last twelve months: 12.7% against 6.09%. Sanuwave Health Inc. has the higher net margin (34.7% vs −51.5%) and the higher return on invested capital (7.46% vs −217.1%). Across the 17 metrics below, Sanuwave Health Inc. leads on 11 and TELA Bio, Inc. on 6.

Valuation

Metric SNWV TELA Medical Devices median
P/E 2.99 n/m 23.22
P/S 0.97 0.70 2.34
P/B 15.31 n/m 2.33
Price to free cash flow 4.55 n/m 23.72
EV/EBITDA 15.50 n/m 11.54
EV/Sales 1.19 1.07 2.24
Earnings yield 33.47% (78.57%) (10.09%)
Free cash flow yield 21.97% (61.53%) (8.47%)

Profitability

Metric SNWV TELA Medical Devices median
Gross margin 76.33% 68.29% 56.01%
Operating margin 3.41% (42.56%) (15.03%)
Net margin 34.66% (51.53%) (20.40%)
Free cash flow margin 21.29% (39.57%) (7.24%)
Return on equity (254.57%) 1,232.54% (15.32%)
Return on assets 43.82% (64.71%) (19.72%)
Return on invested capital 7.46% (217.11%) (10.33%)

Growth

Metric SNWV TELA Medical Devices median
Revenue growth (TTM) 12.67% 6.09% 8.80%
EPS growth (last fiscal year) 118.50% 37.59% 29.03%
Revenue growth, 5-year CAGR 61.12% 34.54% 15.47%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric SNWV TELA Medical Devices median
Debt to equity 6.88 (3.53) 0.07
Current ratio 1.28 2.99 2.50
Net debt to EBITDA 1.30 (0.15) 0.49

Dividend

Metric SNWV TELA Medical Devices median
Dividend yield — — 1.16%
Payout ratio — — 0.36

Size

Metric SNWV TELA Medical Devices median
Market cap 44.48m 45.59m 167.06m

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