Affiliated Managers Group, Inc. (AMG) vs Carlyle Group Inc. (CG)

Affiliated Managers Group, Inc. and Carlyle Group Inc. are both Asset Management companies. Carlyle Group Inc. is the larger, with a market value of $13.1B against $9.9B — 1.3× the size. Affiliated Managers Group, Inc. trades at the lower P/E: 12.3× against 36.0×. Affiliated Managers Group, Inc. grew revenue faster over the last twelve months: 11.8% against −41.9%. Affiliated Managers Group, Inc. has the higher net margin (37.7% vs 10.1%) and the higher return on invested capital (4.68% vs 4.40%). Both pay a dividend; Carlyle Group Inc. yields more (3.85% vs 0.01%). Across the 19 metrics below, Affiliated Managers Group, Inc. leads on 12 and Carlyle Group Inc. on 7.

Valuation

Metric AMG CG Asset Management median
P/E 12.31 36.02 13.99
P/S 4.46 3.60 2.76
P/B 2.58 1.80 0.85
Price to free cash flow 9.51 n/m 8.32
EV/EBITDA — — —
EV/Sales — — —
Earnings yield 8.12% 2.78% 4.72%
Free cash flow yield 10.51% (36.43%) 4.44%

Profitability

Metric AMG CG Asset Management median
Gross margin 100.00% 100.00% 100.00%
Operating margin 21.52% 39.60% 33.42%
Net margin 37.71% 10.08% 13.37%
Free cash flow margin 46.91% (114.16%) 12.36%
Return on equity 21.21% 5.22% 4.79%
Return on assets 9.40% 1.37% 1.55%
Return on invested capital 4.68% 4.40% 2.97%

Growth

Metric AMG CG Asset Management median
Revenue growth (TTM) 11.80% (41.88%) 7.42%
EPS growth (last fiscal year) 50.30% (21.30%) (6.67%)
Revenue growth, 5-year CAGR 0.46% 10.25% 12.51%
Net income growth, 5-year CAGR 28.80% 18.36% 0.00%

Health

Metric AMG CG Asset Management median
Debt to equity 0.76 1.91 0.44
Current ratio 1.24 2.35 1.30
Net debt to EBITDA 3.65 (0.47) 1.02

Dividend

Metric AMG CG Asset Management median
Dividend yield 0.01% 3.85% 6.60%
Payout ratio 0.00 1.46 0.94

Size

Metric AMG CG Asset Management median
Market cap 9.91b 13.12b 694.86m

Compare with another peer

Any metric, up to five companies and an Excel export Powerpack