AllianceBernstein Holding L.P. (AB) vs GCM Grosvenor Inc. (GCMG)

AllianceBernstein Holding L.P. and GCM Grosvenor Inc. are both Asset Management companies. AllianceBernstein Holding L.P. is the larger, with a market value of $3.3B against $2.6B — 1.3× the size. AllianceBernstein Holding L.P. trades at the lower P/E: 10.6× against 16.7×. Both pay a dividend; AllianceBernstein Holding L.P. yields more (9.24% vs 5.47%). Across the 12 metrics below, AllianceBernstein Holding L.P. leads on 6 and GCM Grosvenor Inc. on 6.

Valuation

Metric AB GCMG Asset Management median
P/E 10.58 16.72 14.62
P/S n/m 1.88 2.97
P/B 2.68 6.51 0.94
Price to free cash flow 10.63 4.27 8.93
EV/EBITDA n/m 6.69 10.32
EV/Sales n/m 2.41 5.72
Earnings yield 9.45% 5.98% 4.53%
Free cash flow yield 9.41% 23.40% 4.65%

Profitability

Metric AB GCMG Asset Management median
Gross margin — 0.00% 100.00%
Operating margin — 0.00% 33.03%
Net margin 0.00% 0.00% 13.53%
Free cash flow margin 0.00% 0.00% 12.44%
Return on equity 19.37% 87.47% 4.83%
Return on assets 19.36% 6.77% 1.57%
Return on invested capital 0.00% 28.07% 3.04%

Growth

Metric AB GCMG Asset Management median
Revenue growth (TTM) — (22.39%) 6.97%
EPS growth (last fiscal year) (19.95%) 1,300.00% —
Revenue growth, 5-year CAGR — 3.69% 12.13%
Net income growth, 5-year CAGR 1.42% 16.13% 0.00%

Health

Metric AB GCMG Asset Management median
Debt to equity 0.00 2.96 0.42
Current ratio — 1.89 1.28
Net debt to EBITDA — 1.42 1.06

Dividend

Metric AB GCMG Asset Management median
Dividend yield 9.24% 5.47% 6.92%
Payout ratio — 0.83 0.77

Size

Metric AB GCMG Asset Management median
Market cap 3.30b 2.56b 721.34m

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