COMP <GO>
ADPT vs RLAY // EV/EBITDA & P/E VALUATION
Adaptive Biotechnologies Corporation (NASDAQ) VS. Relay Therapeutics Inc. (NASDAQ) • 15-METRIC TALLY: ADPT 8
— RLAY 0
■ METRIC PARITY
LAST: $28.17 (-0.70%) • MKT CAP: $4.50B
valuation
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LAST: $19.47 (-1.12%) • MKT CAP: $4.27B
valuation
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15-METRIC INSTITUTIONAL SIDE-BY-SIDE SCORECARD (ADPT VS. RLAY)
EMERALD CELL = QUANTITATIVE EDGE
| INSTITUTIONAL METRIC | ADPT | RLAY | SPREAD (A - B) | ADVANTAGE | DEDICATED URL |
|---|---|---|---|---|---|
| Gross Profit Margin | 74.20% | — | — | TIE | /gross-margins <GO> |
| Return on Invested Capital (ROIC) | -12.50% | -35.00% | +22.50 | ADPT | /roic <GO> |
| EV/EBITDA & P/E Valuation ACTIVE | — | — | — | TIE | /valuation <GO> |
| Free Cash Flow Yield | -1.09% | -5.53% | +4.44 | ADPT | /fcf-yield <GO> |
| Operating Margin | -20.60% | -60.00% | +39.40 | ADPT | /operating-margins <GO> |
| Net Profit Margin | -21.50% | -60.00% | +38.50 | ADPT | /net-margins <GO> |
| Revenue Growth (YoY) | 54.80% | 53.40% | +1.40 | ADPT | /revenue-growth <GO> |
| Dividend Yield & FCF Payout Safety | 0.00% | 0.00% | 0.00 | TIE | /dividend-safety <GO> |
| Altman Z-Score & Debt/Equity | 6.32 | — | — | TIE | /balance-sheet <GO> |
| Piotroski F-Score Quality | 6/9 | 4/9 | +2.00 | ADPT | /piotroski-score <GO> |
| Options Implied Move & Put/Call Skew | — | — | — | TIE | /options-implied-move <GO> |
| RSI-14 & 200D SMA Momentum | 57.6 | 50.0 | +7.61 | ADPT | /rsi-technicals <GO> |
| 10Y Yield & FRED Macro Beta | 1.01 | — | — | TIE | /macro-sensitivity <GO> |
| Forward P/E Multiple | 26.0x | — | — | TIE | /forward-pe <GO> |
| Enterprise Scale & Market Cap | $4.50B | $4.27B | $229.1M | ADPT | /market-cap <GO> |
5-YEAR HISTORICAL XBRL REVENUE & MARGIN TRAJECTORY SEC FORM 10-K FY
| FISCAL YEAR | ADPT REV | RLAY REV | ADPT GROSS % | RLAY GROSS % | ADPT FCF | RLAY FCF |
|---|---|---|---|---|---|---|
| FY 2025 | $277.0M | $15.4M | 74.2% | — | -$48.9M | -$235.9M |
| FY 2024 | $179.0M | $10.0M | 59.7% | — | -$98.9M | -$251.1M |
| FY 2023 | $170.3M | $25.5M | — | — | -$164.0M | -$300.3M |
FRED MACRO REGIME CORRELATION COMPARISON PEARSON r
ADPT // BETA 1.01
RLAY // BETA —