Associated Capital Group, Inc. (ACGP) vs MidCap Financial Investment Corporation (MFIC)

Associated Capital Group, Inc. and MidCap Financial Investment Corporation are both Asset Management companies. Associated Capital Group, Inc. and MidCap Financial Investment Corporation are of similar size ($700.2M and $649.9M). MidCap Financial Investment Corporation has negative trailing earnings, so its P/E is not meaningful; Associated Capital Group, Inc. trades at 14.8×. Associated Capital Group, Inc. grew revenue faster over the last twelve months: 131.6% against −7.17%. Associated Capital Group, Inc. has the higher net margin (162.0% vs −9.85%) and the lower return on invested capital (−0.83% vs 5.78%). Both pay a dividend; MidCap Financial Investment Corporation yields more (15.7% vs 1.26%). Across the 18 metrics below, Associated Capital Group, Inc. leads on 9 and MidCap Financial Investment Corporation on 9.

Valuation

Metric ACGP MFIC Asset Management median
P/E 14.76 n/m 13.99
P/S 23.69 2.29 2.76
P/B 0.70 0.63 0.85
Price to free cash flow n/m 1.30 8.32
EV/EBITDA — — —
EV/Sales — — —
Earnings yield 6.78% (4.32%) 4.72%
Free cash flow yield (1.40%) 77.18% 4.44%

Profitability

Metric ACGP MFIC Asset Management median
Gross margin 100.00% 100.00% 100.00%
Operating margin (27.97%) 86.02% 33.42%
Net margin 162.00% (9.85%) 13.37%
Free cash flow margin (33.19%) 176.54% 12.36%
Return on equity 4.85% (2.39%) 4.79%
Return on assets 4.63% (0.94%) 1.55%
Return on invested capital (0.83%) 5.78% 2.97%

Growth

Metric ACGP MFIC Asset Management median
Revenue growth (TTM) 131.64% (7.17%) 7.42%
EPS growth (last fiscal year) 21.15% (46.46%) (6.67%)
Revenue growth, 5-year CAGR 7.21% 8.16% 12.51%
Net income growth, 5-year CAGR 23.01% (10.80%) 0.00%

Health

Metric ACGP MFIC Asset Management median
Debt to equity 0.00 1.58 0.44
Current ratio 15.24 3.78 1.30
Net debt to EBITDA 40.56 6.41 1.02

Dividend

Metric ACGP MFIC Asset Management median
Dividend yield 1.26% 15.71% 6.60%
Payout ratio 0.19 — 0.94

Size

Metric ACGP MFIC Asset Management median
Market cap 649.89m 700.17m 694.86m

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