BTSG vs TXG: BrightSpring Health Services and 10X Genomics compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- BrightSpring Health Services is the larger company, worth $12.7B, close to 10X Genomics's $11.7B.
- BrightSpring Health Services grew revenue faster over the last year (+23.1% vs -12.7%).
- BrightSpring Health Services keeps more of each dollar of revenue as operating profit (3.1% vs -14.3%).
- 10X Genomics's price assumes faster free cash flow growth: about 25% a year, against 11% for BrightSpring Health Services (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | BTSG | TXG |
|---|---|---|
| Market cap | $12.7B | $11.7B |
| Share price | $63.74 | $80.65 |
| Revenue (last fiscal year) | $12.9B | $643M |
| Free cash flow (last fiscal year) | $395M | $130M |
| Revenue growth, last year | +23.1% | -12.7% |
| Revenue growth per year, last 5 fiscal years | +18.7% | +7.0% |
| Operating margin | 3.1% | -14.3% |
| Net margin | 2.5% | -12.2% |
| Return on equity | 17.9% | -9.1% |
| P/E (trailing) | 84.8x | — |
| Price / free cash flow | 32.1x | 89.6x |
| EV / EBITDA | 22.8x | — |
| FCF growth the price implies | 11.2% | 24.9% |
| Dividend yield | — | — |
| Debt / equity | 1.92x | 0.25x |
| Fundamental grade | C | F |
| Superinvestors holding it | 4 | 3 |
| Insider purchases, last 12 months | 0 | 0 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
BrightSpring Health Services
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2022 | $7.7B | -$75M | 2.4% |
| 2023 | $7.7B | $137M | 0.76% |
| 2024 | $10.1B | -$57M | 1.1% |
| 2025 | $12.9B | $395M | 2.3% |
10X Genomics
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $490M | -$123M | -10.7% |
| 2022 | $516M | -$165M | -32.5% |
| 2023 | $619M | -$64M | -42.9% |
| 2024 | $611M | -$6M | -31.9% |
| 2025 | $643M | $130M | -9.5% |
Where the revenue comes from
BrightSpring Health Services · by segments, 2025
Pharmacy Solutions$11.4B89%
Provider Services$1.5B11%
10X Genomics · by products, 2025
Products and services revenue$597M93%
License and royalty revenue$46M7%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open BTSG in InvestinglyQuestions
Which is bigger, BrightSpring Health Services or 10X Genomics?
BrightSpring Health Services (BTSG), at $12.7B against $11.7B.
Which grows faster, BTSG or TXG?
BrightSpring Health Services: revenue grew +23.1% over the last year, against -12.7%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.