ARS Pharmaceuticals, Inc. (SPRY) vs Tectonic Therapeutic, Inc. (TECX)

ARS Pharmaceuticals, Inc. and Tectonic Therapeutic, Inc. are both Biotechnology companies. ARS Pharmaceuticals, Inc. and Tectonic Therapeutic, Inc. are of similar size ($416.4M and $404.8M). Tectonic Therapeutic, Inc. has the higher net margin (0.00% vs −184.3%) and the higher return on invested capital (0.00% vs −335.7%). Across the 14 metrics below, Tectonic Therapeutic, Inc. leads on 12 and ARS Pharmaceuticals, Inc. on 2.

Valuation

Metric SPRY TECX Biotechnology median
P/E n/m n/m 8.50
P/S 3.37 n/m 9.71
P/B 31.51 1.75 2.13
Price to free cash flow n/m n/m 20.82
EV/EBITDA n/m n/m 0.64
EV/Sales 3.61 n/m 9.21
Earnings yield (54.91%) (22.13%) (33.15%)
Free cash flow yield (53.80%) (18.48%) (25.50%)

Profitability

Metric SPRY TECX Biotechnology median
Gross margin 71.37% 0.00% 65.16%
Operating margin (184.96%) 0.00% 0.00%
Net margin (184.26%) 0.00% 0.00%
Free cash flow margin (167.97%) 0.00% 0.00%
Return on equity (210.37%) (33.80%) (56.36%)
Return on assets (76.54%) (32.23%) (48.04%)
Return on invested capital (335.65%) 0.00% 0.00%

Growth

Metric SPRY TECX Biotechnology median
Revenue growth (TTM) 4.08% — 6.02%
EPS growth (last fiscal year) (2,275.00%) 40.70% 30.26%
Revenue growth, 5-year CAGR — — 9.41%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric SPRY TECX Biotechnology median
Debt to equity 13.72 0.00 0.00
Current ratio 3.48 22.29 4.72
Net debt to EBITDA 0.42 3.08 0.96

Dividend

Metric SPRY TECX Biotechnology median
Dividend yield — — 0.09%
Payout ratio — — —

Size

Metric SPRY TECX Biotechnology median
Market cap 404.75m 416.40m 135.18m

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