Sequence comparison is a prerequisite to virtually all comparative genomic analyses. It is often realised by sequence alignment techniques, which are computationally expensive. This has led to increased research into alignment-free techniques, which are based on measures referring to the composition of sequences in terms of their constituent patterns. These measures, such as $q$-gram distance, are usually computed in time linear with respect to the length of the sequences. In this paper, we focus on the complementary idea: how two sequences can be efficiently compared based on information that does not occur in the sequences. A word is an {\em absent word} of some sequence if it does not occur in the sequence. An absent word is {\em minimal} if all its proper factors occur in the sequence. Here we present the first linear-time and linear-space algorithm to compare two sequences by considering {\em all} their minimal absent words. In the process, we present results of combinatorial interest, and also extend the proposed techniques to compare circular sequences. We also present an algorithm that, given a word $x$ of length $n$, computes the largest integer for which all factors of $x$ of that length occur in some minimal absent word of $x$ in time and space $\cO(n)$. Finally, we show that the known asymptotic upper bound on the number of minimal absent words of a word is tight.