Associated Capital Group, Inc. (ACGP) vs Noah Holdings Ltd. (NOAH)

Associated Capital Group, Inc. and Noah Holdings Ltd. are both Asset Management companies. Associated Capital Group, Inc. is the larger, with a market value of $649.9M against $494.6M — 1.3× the size. Noah Holdings Ltd. trades at the lower P/E: 5.8× against 14.8×. Associated Capital Group, Inc. grew revenue faster over the last twelve months: 131.6% against 8.07%. Associated Capital Group, Inc. has the higher net margin (162.0% vs 22.7%) and the lower return on invested capital (−0.83% vs 12.3%). Both pay a dividend; Noah Holdings Ltd. yields more (19.1% vs 1.26%). Across the 18 metrics below, Noah Holdings Ltd. leads on 12 and Associated Capital Group, Inc. on 6.

Valuation

Metric ACGP NOAH Asset Management median
P/E 14.76 5.78 13.99
P/S 23.69 1.29 2.76
P/B 0.70 0.35 0.85
Price to free cash flow n/m 2.23 8.32
EV/EBITDA — — —
EV/Sales — — —
Earnings yield 6.78% 17.29% 4.72%
Free cash flow yield (1.40%) 44.79% 4.44%

Profitability

Metric ACGP NOAH Asset Management median
Gross margin 100.00% 100.00% 100.00%
Operating margin (27.97%) 33.71% 33.42%
Net margin 162.00% 22.67% 13.37%
Free cash flow margin (33.19%) 57.74% 12.36%
Return on equity 4.85% 0.00% 4.79%
Return on assets 4.63% 5.17% 1.55%
Return on invested capital (0.83%) 12.31% 2.97%

Growth

Metric ACGP NOAH Asset Management median
Revenue growth (TTM) 131.64% 8.07% 7.42%
EPS growth (last fiscal year) 21.15% 23.91% (6.67%)
Revenue growth, 5-year CAGR 7.21% (5.93%) 12.51%
Net income growth, 5-year CAGR 23.01% 0.00% 0.00%

Health

Metric ACGP NOAH Asset Management median
Debt to equity 0.00 0.00 0.44
Current ratio 15.24 3.61 1.30
Net debt to EBITDA 40.56 (5.39) 1.02

Dividend

Metric ACGP NOAH Asset Management median
Dividend yield 1.26% 19.12% 6.60%
Payout ratio 0.19 1.11 0.94

Size

Metric ACGP NOAH Asset Management median
Market cap 649.89m 494.58m 694.86m

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