Vanda Pharmaceuticals Inc.
$321.69M- Market cap
- $328.31M
- Debt
- +$78.23M
- Cash
- −$84.85M
Capital structure 81% equity / 19% debt · EV / Revenue 1.49x
Compare price, profitability, solvency, and SEC-reported financials side by side—before deciding which assumptions deserve a closer look.
Decision snapshot: VNDA stock price at discount vs DX $5.43 current versus $89.74 implied using P/S multiple.
Quick read
Each company valued on the other's multiple, then compared with the market price.
Implied fair value · at DX's multiple
Implied fair value · at VNDA's multiple
Snapshot Sep 4, 4:00 PM ET
Metric by metric
Where each company leads, and how wide the gap is.
Growth lag
Pricing power
Operating leverage
Multiple discount
Not comparable
Lower leverage
Statements
Core statements aligned to each company's latest fiscal year.
SEC periods: VNDA FY 2025 (ended Dec 31, 2025) · DX FY 2013 (ended Dec 31, 2013). Fiscal years are not aligned.
Trendline
Ten fiscal years of revenue, earnings, and margins before underwriting a re-rating.
Price framework
Market cap plus debt, less cash.
Capital structure 81% equity / 19% debt · EV / Revenue 1.49x
Complete market value, debt and cash evidence is required for enterprise value.
Capital structure 100% equity / 0% debt
DX carries the larger enterprise value at $3.20B against $321.69M; VNDA trades on the lower EV / Revenue multiple (1.49x vs 25.21x).
Price framework
The same filing-backed model used on each company's valuation page, with company-specific inputs and calculated scenarios.
VANDA PHARMACEUTICALS INC. · implied price per share
Latest annual free cash flow must be positive to qualify the filing-backed baseline.
DYNEX CAPITAL, INC. · implied price per share
Five annual free-cash-flow observations are required for the filing-backed baseline.
Balance sheet health
Financial health checks to separate durable balance sheets from potential value traps.
Financial strength on a 0–9 scale.
Bankruptcy-risk signal from balance sheet and earnings power.
Debt / equity
Total debt against shareholders' equity
0.24x
—
Net debt / EBITDA
Leverage against operating earnings
0.05x
—
Cash and equivalents
Liquid reserves on the balance sheet
$84.85M
—
Total debt
Interest-bearing obligations outstanding
$78.23M
$12.91M
Comparable set
Where the pair sits against the wider comparable set.
Keep comparing
Open adjacent comparisons from the same industry to pressure-test the read across multiple pairs.
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