Exact Sciences Corp (NASDAQ: EXAS)

Sector: Healthcare Industry: Diagnostics & Research CIK: 0001124140
P/B 7.48
P/E -18.97
P/S 6.07
Market Cap 18.72 Bn
ROIC (Qtr) -22.04
Div Yield % 0.00
Rev 1y % (Qtr) 20.05
Total Debt (Qtr) 2.52 Bn
Debt/Equity (Qtr) 1.01

About

Stock Price Chart

Analysis

Pros

  • Healthy cash reserves of 789.04M provide 24.77x coverage of short-term debt 31.85M, demonstrating strong liquidity position and minimal refinancing risk.
  • Robust free cash flow of 247.08M exceeds capital expenditure of 139.73M by 1.77x, indicating strong organic growth funding capability.
  • Cash reserves of 789.04M provide ample 28.21x coverage of acquisition spending 27.97M, enabling strategic growth opportunities.
  • Operating cash flow of 386.81M fully covers other non-current liabilities 324.81M by 1.19x, showing strong long-term stability.
  • Operating cash flow of 386.81M provides solid 0.66x coverage of current liabilities 584.26M, showing strong operational health.

Cons

  • Investment activities of 62.13M provide weak support for R&D spending of 431.12M, which is 0.14x, suggesting potentially insufficient investment in innovation relative to other capital deployment.
  • The company's operating cash flow of 386.81M shows concerning coverage of stock compensation expenses of 211.23M, with a 1.83 ratio indicating potential earnings quality issues.
  • Operating earnings of (955.59M) show weak coverage of depreciation charges of 244.90M, with a -3.90 ratio indicating high capital intensity and potential reinvestment needs.
  • Operating cash flow of 386.81M provides minimal -47.22x coverage of tax expenses of (8.19M), suggesting potential tax planning inefficiencies or unsustainable tax positions.
  • Free cash flow of 247.08M represents just -0.99x of debt issuance (249.17M), suggesting concerning reliance on leverage rather than internal cash generation for growth.

Peer Comparison

Companies in the Diagnostics & Research
S.No. Ticker Company Market Cap P/E P/S Total Debt (Qtr)
1 TMO Thermo Fisher Scientific Inc. 216.83 Bn 33.00 4.96 35.68 Bn
2 DHR Danaher Corp /De/ 162.47 Bn 46.38 6.69 16.86 Bn
3 IDXX Idexx Laboratories Inc /De 56.88 Bn 55.36 13.65 1.09 Bn
4 A Agilent Technologies, Inc. 39.82 Bn 32.64 5.87 3.41 Bn
5 IQV Iqvia Holdings Inc. 38.85 Bn 30.28 2.44 15.19 Bn
6 NTRA Natera, Inc. 31.32 Bn -101.29 14.80 0.18 Bn
7 MTD Mettler Toledo International Inc/ 28.99 Bn 34.68 7.35 2.21 Bn
8 WAT Waters Corp /De/ 22.92 Bn 35.32 7.38 1.49 Bn

Industry Comparisons

Current Valuation

Metric Value Industry Percentile
EV to Assets 3.49 2.69
EV to Cash from Ops. 53.21 18.14
EV to Debt 8.16 52.51
EV to EBIT -21.54 19.22
EV to EBITDA -27.26 4.35
EV to Free Cash Flow [EV/FCF] 83.30 2.84
EV to Market Cap 1.10 1.52
EV to Revenue 6.68 4.79
Price to Book Value [P/B] 7.48 1.34
Price to Earnings [P/E] -18.97 22.02

Dividend Metrics

Metric Value Industry Percentile
Dividend Coverage Ratio 0.00 -1.96
Dividend Payout Ratio % 0.00 2.83
Dividend per Basic Share 0.00 0.19
FCF Dividend Payout Ratio % 0.00 1.92
Interest Coverage -24.39 -126.58

Growth Metrics

Metric Value Industry Percentile
Capex Growth (1y) % -3.81 -31.50
Cash and Equivalents Growth (1y) % 34.00 21.37
Dividend Growth (1y) % 0.00 0.24
EBIAT Growth (1y) % -403.26 -55.24
EBITDA Growth (1y) % -22,921.15 -447.96
EBIT Growth (1y) % -415.79 -40.50
EBT Growth (1y) % -372.42 -70.94
EPS Growth (1y) % -357.26 -70.02
FCF Growth (1y) % 151.03 56.33
Gross Profit Growth (1y) % 14.21 185.11

Liquidity Ratios

Metric Value Industry Percentile
Asset Utilization Ratio 0.52 0.56
Cash Payout Ratio 0.00 0.01
Cash Ratio 1.35 1.21
Current Ratio 2.72 2.64
Debt to Equity Ratio 1.01 -0.80
Interest Cover Ratio -24.39 -126.58
Times Interest Earned -24.39 -126.58

Profitability

Metric Value Industry Percentile
EBITDA Margin % -23.10 -129.91
EBIT Margin % -31.01 -156.71
EBT Margin % -32.28 -162.23
Gross Margin % 67.40 47.70
Net Profit Margin % -32.00 -189.30