Halozyme vs Repligen
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KIRA’s take AI analyst
I put Halozyme and Repligen side by side, using each one’s latest annual report. Here is what stands out:
- Halozyme is the larger business, with $1.4B of revenue in fiscal 2025 against $738M for Repligen, about 1.9 times as much.
- Halozyme grew revenue faster (37.6%, against 16.4%).
- Halozyme kept more of each dollar of sales as operating profit (33.6% operating margin, against 7.5%).
- Halozyme turned more of its sales into free cash flow (46.2% FCF margin, against 12.7%).
- Halozyme earned a higher return on the capital invested in it (19.2%, against 2.4%).
Who comes out ahead
Of the 9 measures where higher (or lower) is clearly better, how many each company leads.
Halozyme
HALO
8/9
Revenue growth5-year growthGross marginOperating marginNet marginFCF marginReturn on capitalReturn on equity
Repligen
RGEN
1/9
Net debt / EBITDA
Side by side
Best in the row
| Latest fiscal year | HALO FY25 | RGEN FY25 |
|---|---|---|
| Size | ||
| Market cap | $15.5B | — |
| Revenue | $1.4B | $738M |
| Free cash flow | $645M | $93.9M |
| Net income | $317M | $48.9M |
| Growth | ||
| Revenue growth | 37.6% | 16.4% |
| 5-year growth | 39.2% | 15.1% |
| Share count change | −4.3% | — |
| Profitability | ||
| Gross margin | 83.6% | 52.3% |
| Operating margin | 33.6% | 7.5% |
| Net margin | 22.7% | 6.6% |
| FCF margin | 46.2% | 12.7% |
| Return on capital | 19.2% | 2.4% |
| Return on equity | 153.6% | 2.4% |
| Balance sheet | ||
| Net debt | $2.0B | −$225M |
| Net debt / EBITDA | 4.2x | −1.7x |
| Dividends and buybacks | $342M | $0.0M |
| Valuation & quality | ||
| P/E | 37.3x | — |
| Piotroski F-score | 5 | — |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.