BFLY vs NEOG vs QDEL Stock Comparison

Butterfly Network, Neogen and QuidelOrtho Prices as of Nov 2, 2026 Peers: Industry group
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BFLY Butterfly Network, Inc.
$6.14 -31.2% 1M +128.3% 1Y
Market cap
$1.46B
P/E
–
Revenue (TTM)
$123.25M
Div. yield
–
Diagnostic Equipment Healthcare
3 wins
NEOG Neogen Corp
$11.82 -2.7% 1M +91.6% 1Y
Market cap
$2.58B
P/E
–
Revenue (TTM)
$883.99M
Div. yield
–
Diagnostic Equipment Healthcare
4 wins
QDEL QuidelOrtho Corp
$14.03 +30.3% 1M -48.0% 1Y
Market cap
$958.25M
P/E
–
Revenue (TTM)
-$211.90M
Div. yield
–
Diagnostic Equipment Healthcare
1 win

Head to Head

8 decided of 12

Neogen leads on 4 of the 12 questions below (Neogen 4, Butterfly Network 3, QuidelOrtho 1). Which ones matter depends on what you are buying for; a cheap multiple and slow growth often come together.

QuestionBFLYNEOGQDELLeader
Larger companyMarket capitalisation $1.46B $2.58B $958.25M NEOG
Cheaper on earningsLower P/E, profitable companies only -30.0x -46.0x -0.9x –
Cheaper on forward earningsLower price / next fiscal year consensus EPS — 36.9x 18.7x QDEL
Faster revenue growthRevenue growth, trailing twelve months +39.4% -0.3% -30.8% BFLY
More profitableNet margin, trailing twelve months -43.6% -6.3% — NEOG
Better return on capitalReturn on invested capital — -0.2% — –
Less leveragedLower net debt / EBITDA — 5.4x — –
Higher dividend yieldTrailing dividend yield — — — –
Better 1-year returnPrice return, last 12 months +128.3% +91.6% -48.0% BFLY
Better 5-year returnAnnualised price return, 5 years -10.4%/yr -23.1%/yr -36.8%/yr BFLY
Less volatileAnnualised volatility, 1 year 112.8% 55.7% 93.3% NEOG
Higher overall scoreMean of the five percentile scores vs peers 49/100 58/100 22/100 NEOG

Percentile Scorecard

BFLYNEOGQDEL

Each axis is the mean percentile of its metrics against the company's industry group. 100 is the best in the group, 50 the middle.

Scores by Axis

AxisBFLYNEOGQDEL
Valuation 31 #158 of 227 72 #65 of 227 46 #123 of 227
Growth 87 #29 of 220 49 #112 of 220 1 #218 of 220
Profitability 39 #128 of 209 62 #80 of 209 –
Financial Health 57 #105 of 240 48 #126 of 240 10 #216 of 240
Shareholder Returns 30 #97 of 138 58 #59 of 138 32 #94 of 138
Overall 49 58 22
  • BFLY ranked among 247 companies in Medical Devices and Diagnostics
  • NEOG ranked among 247 companies in Medical Devices and Diagnostics
  • QDEL ranked among 247 companies in Medical Devices and Diagnostics

Price Performance

Price return, split-adjusted, before dividends. Click a name to hide or show it.

Returns

PeriodBFLYNEOGQDELSPY
1 month -31.2%-2.7%+30.3% -2.3%
3 months -25.2%-0.7%-20.8% -0.7%
6 months +26.6%+30.0%+13.0% +4.8%
Year to date +61.6%+69.1%-50.9% +10.3%
1 year +128.3%+91.6%-48.0% +10.3%
3 years +448.2%-25.3%-78.2% +73.0%
3 years, per year +76.4%-9.3%-39.8% +20.1%
5 years -42.3%-73.0%-89.9% +61.9%
5 years, per year -10.4%-23.1%-36.8% +10.1%
10 years —-39.4%-25.6% +258.6%
10 years, per year —-4.9%-2.9% +13.6%

Risk

MeasureBFLYNEOGQDELSPY
Volatility, 1Y 112.8%55.7%93.3% 12.8%
Downside volatility, 1Y 94.2%46.7%100.8% 12.8%
Beta vs S&P 500, 1Y 3.091.432.58 1.00
Return / volatility, 1Y 1.141.64-0.51 0.80
Max drawdown, 5Y -93.4%-90.6%-94.3% -25.4%
From 52-week high -38.2%-15.5%-60.3% -3.5%
52-week high $9.94$13.98$35.38 $779.14
52-week low $1.97$5.41$9.96 $631.97

Valuation History

Weekly multiples on trailing twelve-month fundamentals. Negative or extreme readings (a loss year, a collapsed denominator) are left out so the chart stays readable.

MultipleBFLYNEOGQDEL
P/E now vs peer median -30.0xmedian 28.4x -46.0xmedian 28.4x -0.9xmedian 28.4x
P/S now vs peer median 11.9xmedian 3.0x 2.9xmedian 3.0x -4.5xmedian 3.0x
EV/EBITDA now vs peer median -26.3xmedian 18.0x 28.7xmedian 18.0x —median 18.0x
P/FCF now vs peer median -53.0xmedian 25.0x 51.8xmedian 25.0x -4.5xmedian 25.0x
P/B now vs peer median 7.9xmedian 2.3x 1.2xmedian 2.3x 0.5xmedian 2.3x
PEG now vs peer median -1.00median 0.93 1.64median 0.93 0.01median 0.93

Financial History

Reported figures by fiscal period, placed on the calendar year (or quarter) each period ended in, so companies with different fiscal years line up.

Trailing twelve monthsBFLYNEOGQDEL
Revenue $123.25M $883.99M -$211.90M
Gross profit $86.60M $418.98M –
Operating income -$57.83M -$7.38M –
Net income -$53.69M -$56.10M -$1.05B
Free cash flow -$27.55M $49.80M -$211.20M
R&D $39.57M $19.76M –
EPS (diluted) $-0.20 $-0.26 $-15.35
Cash & equivalents $122.30M $172.00M $123.40M
Total debt – $774.20M $2.89B
Shares (diluted) 262.10M 218.10M 68.30M
Enterprise value $925.89M $1.92B $426.55M

All Metrics

58 metrics · best in bold

Bold marks the best reading: the lowest positive value for multiples, leverage and payout, the highest for everything else. The bar under each value is its percentile against that company's own peers. Hover a value for its rank and the peer median.

Valuation

12 metrics
MetricBFLYNEOGQDEL
P/E -30.0x -46.0x -0.9x
P/FCF -53.0x 51.8x -4.5x
P/Operating cash flow -62.5x 30.3x -16.8x
P/S 11.9x 2.9x -4.5x
P/B 7.9x 1.2x 0.5x
P/Tangible book 8.2x 3.3x -1.1x
EV/EBITDA -26.3x 28.7x –
EV/EBIT -23.2x -431.4x –
EV/Revenue 10.9x 3.6x -17.6x
EV/FCF -48.6x 63.9x -17.6x
EV/Operating cash flow -57.2x 37.3x -65.1x
PEG (3Y EPS CAGR) -1.00 1.64 0.01

Growth

14 metrics
MetricBFLYNEOGQDEL
Revenue growth (1Y) 39.4% -0.3% -30.8%
Revenue CAGR (3Y) 21.7% -1.3% -27.0%
Gross profit growth (1Y) 126.4% 1.8% –
Gross profit CAGR (3Y) 30.5% -3.1% –
Operating income growth (1Y) 33.5% 99.3% –
Operating income CAGR (3Y) 26.9% -29.0% –
Net income growth (1Y) 32.8% 94.6% -124.8%
Net income CAGR (3Y) 24.2% -28.3% -107.7%
EPS growth (1Y) 35.4% 94.6% -122.8%
EPS CAGR (3Y) 30.0% -28.0% -106.5%
Operating cash flow growth (1Y) 5.8% -1.9% -128.5%
Operating cash flow CAGR (3Y) 41.1% 2.9% -27.1%
Free cash flow growth (1Y) -0.1% 1,631% -1,725%
Free cash flow CAGR (3Y) 38.8% 126.1% -30.1%

Profitability

14 metrics
MetricBFLYNEOGQDEL
Gross margin 70.3% 47.4% –
EBITDA margin -41.4% 12.5% –
Operating margin -46.9% -0.8% –
Pretax margin -43.5% -7.7% –
Net margin -43.6% -6.3% –
FCF margin -22.4% 5.6% –
Operating cash flow margin -19.0% 9.6% 27.0%
Return on equity -28.7% -2.7% –
Return on assets -18.8% -1.7% –
Return on invested capital – -0.2% –
Return on capital employed -26.6% -0.2% –
Asset turnover 0.4x 0.3x 0.0x
Cash conversion (OCF / net income) 0.4x -1.5x 0.1x
Stock comp / revenue 20.8% 1.3% -20.9%

Financial Health

11 metrics
MetricBFLYNEOGQDEL
Debt / assets – 23.4% 50.6%
Debt / equity – 0.4x 1.6x
Net debt / EBITDA – 5.4x –
Debt / FCF – 15.5x -13.7x
Liabilities / assets 36.0% 36.8% 68.9%
Equity / assets 64.0% 63.2% 31.1%
Interest coverage -46.8x – –
Current ratio 3.6x 3.9x 1.4x
Quick ratio 2.3x 2.1x 0.5x
Cash ratio 1.8x 1.2x 0.1x
Altman Z-score 4.51 1.45 –

Shareholder Returns

7 metrics
MetricBFLYNEOGQDEL
Dividend yield – – –
Net buyback yield -0.6% -0.1% -0.5%
Shareholder yield -0.6% -0.1% -0.5%
Payout ratio (earnings) – – –
Payout ratio (FCF) – – –
Dividend growth (1Y) – – –
Dividend CAGR (3Y) – – –

Analyst Estimates

Solid lines are reported fiscal-year results; dashed lines are the consensus for the years ahead. Hover a year for the analysts' high and low, and how each result compared with its estimate.

ConsensusBFLYNEOGQDEL
Forward P/E – 36.9xFY2026 18.7xFY2026
EPS, next fiscal year $-0.10FY2026 $0.32FY2026 $0.75FY2026
EPS growth, next FY – 0.0%FY2026 -64.6%FY2026
EPS growth, the year after – +31.3% +101.3%
Revenue, next fiscal year $114.50MFY2026 $847.28MFY2026 $2.67BFY2026
Revenue growth, next FY +17.3%FY2026 -2.7%FY2026 -2.0%FY2026
Revenue growth, the year after +26.0% -1.5% +0.2%

Institutional Ownership

13F filings, quarter ended Jun 30, 2026
HoldersBFLYNEOGQDEL
Held by institutions 59.9% 100.0% 100.0%
Institutions holding 247 315 243
Change in shares held, QoQ +13.9% +1.6% +2.9%
Institutions buying 143 151 143
Institutions selling 59 106 65
Buyers to sellers 2.42 1.42 2.20

Return Correlation

Daily returns, last 12 months

1.00 means two stocks move in lockstep, 0 that they move independently. Pairs below about 0.5 diversify each other.

BFLYNEOGQDEL
BFLY 1.00 0.24 0.24
NEOG 0.24 1.00 0.20
QDEL 0.24 0.20 1.00

Add a Peer

Largest companies in the same industry

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Frequently Asked Questions

Which is bigger, BFLY, NEOG and QDEL?

Neogen (NEOG) is the largest by market capitalisation: Butterfly Network (BFLY) $1.46B, Neogen (NEOG) $2.58B, QuidelOrtho (QDEL) $958.25M.

Which company is growing faster?

Butterfly Network (BFLY) grew revenue fastest over the trailing twelve months: Butterfly Network (BFLY) +39.4%, Neogen (NEOG) -0.3%, QuidelOrtho (QDEL) -30.8%.

Which company is more profitable?

Neogen (NEOG) has the highest net margin (Butterfly Network (BFLY) -43.6%, Neogen (NEOG) -6.3%).

Which stock has performed better?

Over the past year Butterfly Network (BFLY) returned the most: Butterfly Network (BFLY) +128.3%, Neogen (NEOG) +91.6%, QuidelOrtho (QDEL) -48.0%. Over five years, Butterfly Network (BFLY) compounded fastest (Butterfly Network (BFLY) -10.4%/yr, Neogen (NEOG) -23.1%/yr, QuidelOrtho (QDEL) -36.8%/yr). Returns are price only, before dividends.

Which stock is riskier?

By one-year price volatility, Neogen (NEOG) has been the steadiest (Butterfly Network (BFLY) 112.8%, Neogen (NEOG) 55.7%, QuidelOrtho (QDEL) 93.3%). Volatility measures how widely the price swings, not the risk of the business.

Which is the better stock, BFLY, NEOG and QDEL?

There is no single answer; it depends on what you are buying for. On the 12 head-to-head measures on this page, Neogen (NEOG) leads on 4. Business Quant does not give investment advice; use the comparison as a starting point for your own research.

Data from SEC filings, exchange prices and consensus estimates, via Business Quant. Percentile scores compare each company with its own peer group, so two companies' scores are each relative to different peers unless you rank against the whole market. Price returns exclude dividends. Nothing on this page is investment advice.