Life Sciences Tools & Services


I always look at economics of the business
A bird in the hand is worth 2 in the bush and the question is how sure are you there are 2 in the bush and how long you have to wait to get them out
1. How many birds are in the bush?
2. When you gonna get them out?
3. How sure are you?
If interest rates are 15% roughly you've got 2 birds out of bush in 5 years equal to bird in the hand but if interest rates are 3% and you can get 2 birds out in 20 years it still makes sense to give up the bird in the hand because it's all gets back to discounting an interest rate. Often you don't know not only how many birds in the bush but in the case of internet companies there were not any birds in the bush but they still take the bird that you give them from the hand
Loop through all the subindustries and try to understand how many birds are in the bush from the perspective of economics of the business

Revenue

200020012002200320042005200620072008200920102011201220132014201520162017201820192020
Display GDP grow per year to compare with Revenue Change
1. Thermo Fisher Scientific Inc TMO2,2812,1882,0862,0972,2062,6333,7929,74610,49810,11010,78911,72612,51013,09016,89016,96518,27420,91824,35825,542
2. IQVIA Holdings Inc IQV4,3284,8665,1005,4605,7386,8789,73910,41211,088
3. Avantor, Inc AVTR6376911,2475,8646,040
4. Agilent Technologies, Inc A10,7738,3966,0106,0567,1815,1394,9735,4205,7744,4815,4446,6156,8586,7826,9814,0384,2024,4724,9145,1635,339
5. Syneos Health, Inc SYNH8699951,1791,3991,6112,6724,3904,676
6. PPD, Inc PPD2,6803,0013,7494,031
7. Illumina, Inc ILMN1.312.4910.042851741853675736669031,0561,1491,4211,8612,2202,3982,7523,3333,543
8. PRA Health Sciences, Inc PRAH7009911,4601,6131,8112,2592,8723,065
9. Mettler-Toledo International Inc MTD1,0961,1481,2141,3041,4041,4821,5951,7941,9731,7291,9682,3092,3422,3792,4862,3952,5082,7252,9363,009
10. PerkinElmer, Inc PKI1,6951,3301,5051,5351,6871,4741,5461,7871,9371,8121,7041,9212,1152,1662,2372,2622,1162,2572,7782,884
11. ICON Public Limited Company ICLR1161572262973272024566318658889009461,1151,3361,5031,5751,6661,7582,5962,806
12. Charles River Laboratories International, Inc CRL3074665556147671,1221,0581,2311,3431,2031,1331,1431,1301,1661,2981,3631,6811,8582,2662,621
13. Waters Corporation WAT7958598909581,1051,1581,2801,4731,5751,4991,6431,8511,8441,9041,9892,0422,1672,3092,4202,407
14. Bio-Rad Laboratories, Inc BIO7268188931,0031,0901,1811,2621,4611,7641,7841,9272,0742,0692,1332,1752,0192,0682,1602,2892,312
15. Bruker Corporation BRKR77931162612842984365481,1071,1151,3051,6521,7911,8391,8091,6241,6111,7661,8962,073
16. QIAGEN N.V QGEN2042642993513813984666508931,0101,0871,1701,2541,3021,3451,2811,3381,4181,5021,526
17. Medpace Holdings, Inc MEDP326359422436705861
18. Bio-Techne Corporation TECH104115131145161179203223257264269290315311358452499563643714739
19. Evotec SE EVTCY5451586779106116120114139165258375446
20. NeoGenomics, Inc NEO0.250.090.370.561.896.4811.5120293443606687100244259277409
21. Luminex Corporation LMNX8.572113.012636425375104121142184203213227238271307316335
22. NanoString Technologies, Inc NSTG17.82331486386115107126
23. Fluidigm Corporation FLDM15.352534435271116115104102113117
24. Harvard Bioscience, Inc HBIO31415787936776838886108109111105109109105102121116
25. Pacific Biosciences of California, Inc PACB0.90.141.67342628619391937991
26. Adaptive Biotechnologies Corporation ADPT385685
27. Enzo Biochem, Inc ENZ50585453424340537890971021039496981031081058176
28. Codexis, Inc CDXS50831071248832354249506168
29. Personalis, Inc PSNL9.393865
30. Quanterix Corporation QTRX12.1817.59233857
31. ChromaDex Corporation CDXC07.578.1111.6110.1615.312227213246
32. Bioanalytical Systems, Inc BASI19.2225273037424345423229332822252320242644
33. Champions Oncology, Inc CSBR2.182.182.13221.79001.43.714.896.887.158.3211.558.8611.1815.41202732
34. Pharma-Bio Serv, Inc PBSV16.2115.211.4811.3519.932933282319.5415.5817.819.51
35. ImmunoPrecise Antibodies Ltd IPATF1.761.92.635.4410.9314.06
36. Bionano Genomics, Inc BNGO6.799.511210.13
37. Accelerate Diagnostics, Inc AXDX1.570.860.650.850.120.50.210.180.481.272.251.120.240.050.120.150.254.185.679.3
38. International Isotopes Inc INIS6.282.182.182.072.852.994.474.695.66.126.119.467.626.857.547.066.557.4210.378.96
39. Pressure BioSciences, Inc PBIO19.472223230.410.110.210.650.851.251.340.991.241.51.371.81.982.242.461.81
40. Dyadic International, Inc DYAI16.7816.7415.8815.3813.2813.12218.4410.2515.617.1412.520.320.590.761.31.68
41. Reflect Scientific, Inc RSCF2.578.0210.135.662.41.991.331.291.531.041.191.071.551.61
42. RepliCel Life Sciences Inc REPCF03.8800000.120.25
43. Genetic Technologies Limited GENE4.42.656.837.2812.5414.278.958.119.616.377.485.120.710.820.520.190.030.01
44. Eco Science Solutions, Inc ESSI00000000.06
45. Compugen Ltd CGEN6.8911.3611.18.834.030.650.220.180.340.251.1200.243.5512.379.280.71017.80
46. Laxai Pharma, Ltd LAXAF0000
47. MonoGen, Inc MOGIF5.412.72.681.04
48. MetaStat, Inc MTST0000000.02
49. BG Medicine, Inc BGMD14.588.490.821.632.824.072.791.57
50. Response Genetics, Inc RGDXQ6.966.027.797.139.0719.372318.7419.816.72
51. Quick-Med Technologies, Inc QMDT000.050.181.231.951.3610.991.0410.93


Revenue Growth

200020012002200320042005200620072008200920102011201220132014201520162017201820192020
Display GDP growth per year to compare with Revenue Change
1. Thermo Fisher Scientific Inc TMO0.960.960.951.011.051.191.442.571.080.961.071.091.071.051.2911.081.141.161.05
2. IQVIA Holdings Inc IQV1.121.121.051.071.051.21.421.071.06
3. Avantor, Inc AVTR1.091.091.84.71.03
4. Agilent Technologies, Inc A0.780.780.721.011.190.720.971.091.070.781.211.221.040.991.030.581.041.061.11.051.03
5. Syneos Health, Inc SYNH1.151.151.181.191.151.661.641.07
6. PPD, Inc PPD1.121.121.251.08
7. Illumina, Inc ILMN1.91.94.042.791.81.452.511.991.561.161.351.171.091.241.311.191.081.151.211.06
8. PRA Health Sciences, Inc PRAH1.421.421.471.111.121.251.271.07
9. Mettler-Toledo International Inc MTD1.051.051.061.071.081.061.081.121.10.881.141.171.011.021.040.961.051.091.081.02
10. PerkinElmer, Inc PKI0.780.781.131.021.10.871.051.161.080.940.941.131.11.021.031.010.941.071.231.04
11. ICON Public Limited Company ICLR1.511.511.351.441.321.10.622.261.381.371.031.011.051.181.21.131.051.061.061.481.08
12. Charles River Laboratories International, Inc CRL1.521.521.191.111.251.460.941.161.090.90.941.010.991.031.111.051.231.11.221.16
13. Waters Corporation WAT1.081.081.041.081.151.051.111.151.070.951.11.1311.031.041.031.061.071.050.99
14. Bio-Rad Laboratories, Inc BIO1.131.131.091.121.091.081.071.161.211.011.081.0811.031.020.931.021.041.061.01
15. Bruker Corporation BRKR1.211.211.262.241.091.051.461.262.021.011.171.271.081.030.980.90.991.11.071.09
16. QIAGEN N.V QGEN1.291.291.131.181.081.051.171.41.371.131.081.081.071.041.030.951.041.061.061.02
17. Medpace Holdings, Inc MEDP1.11.11.171.031.621.22
18. Bio-Techne Corporation TECH1.111.111.131.111.111.111.131.11.151.031.021.081.080.991.151.261.11.131.141.111.03
19. Evotec SE EVTCY0.960.961.141.151.181.331.11.040.951.211.191.571.461.19
20. NeoGenomics, Inc NEO0.370.373.981.513.383.441.781.741.471.171.271.381.111.311.152.451.061.071.48
21. Luminex Corporation LMNX2.442.440.622.021.361.181.251.421.391.161.171.31.11.051.061.051.141.131.031.06
22. NanoString Technologies, Inc NSTG1.291.291.371.521.321.381.330.931.18
23. Fluidigm Corporation FLDM1.661.661.321.281.221.361.640.990.910.981.111.04
24. Harvard Bioscience, Inc HBIO1.341.341.41.521.060.731.131.091.060.971.261.011.020.951.0310.960.971.190.96
25. Pacific Biosciences of California, Inc PACB0.150.1512.420.230.771.082.151.530.981.030.841.16
26. Adaptive Biotechnologies Corporation ADPT1.451.451.53
27. Enzo Biochem, Inc ENZ1.171.170.920.980.791.040.921.331.471.151.081.051.010.911.021.021.051.050.970.780.94
28. Codexis, Inc CDXS1.641.641.291.160.710.361.111.181.171.021.211.13
29. Personalis, Inc PSNL4.024.021.73
30. Quanterix Corporation QTRX1.441.441.31.651.51
31. ChromaDex Corporation CDXCINFINF1.071.430.881.511.441.220.791.491.47
32. Bioanalytical Systems, Inc BASI1.311.311.051.131.251.141.021.050.920.760.911.150.850.781.110.920.91.191.091.66
33. Champions Oncology, Inc CSBR110.980.9410.890NANINF2.651.321.411.041.161.390.771.261.381.311.341.19
34. Pharma-Bio Serv, Inc PBSV0.940.940.760.991.761.471.130.830.850.840.81.141.1
35. ImmunoPrecise Antibodies Ltd IPATF1.081.081.392.072.011.29
36. Bionano Genomics, Inc BNGO1.41.41.260.84
37. Accelerate Diagnostics, Inc AXDX0.550.550.761.30.144.220.420.862.62.671.770.50.210.22.531.21.6716.981.361.64
38. International Isotopes Inc INIS0.350.3510.951.381.051.51.051.191.0911.550.810.91.10.940.931.131.40.86
39. Pressure BioSciences, Inc PBIO1.121.121.041.020.020.261.983.081.321.461.080.741.251.210.911.311.11.131.10.74
40. Dyadic International, Inc DYAI110.950.970.860.991.630.391.211.521.10.730.031.881.281.711.3
41. Reflect Scientific, Inc RSCF3.123.121.260.560.420.830.670.971.180.681.150.91.461.04
42. RepliCel Life Sciences Inc REPCFINFINF0NANNANNANINF2.09
43. Genetic Technologies Limited GENE0.60.62.581.071.721.140.630.92.420.321.180.680.141.160.630.360.130.39
44. Eco Science Solutions, Inc ESSINANNANNANNANNANNANNANINF
45. Compugen Ltd CGEN1.651.650.980.80.460.160.330.841.880.744.460INF14.673.480.750.080INF0
46. Laxai Pharma, Ltd LAXAFNANNANNANNAN
47. MonoGen, Inc MOGIF0.50.50.990.39
48. MetaStat, Inc MTSTNANNANNANNANNANNANINF
49. BG Medicine, Inc BGMD0.580.580.121.721.450.680.56
50. Response Genetics, Inc RGDXQ0.860.861.290.911.272.141.170.831.060.84
51. Quick-Med Technologies, Inc QMDTNANNANINF3.796.761.590.70.740.991.050.960.93