Apollo Global Management Inc. (APO) vs Raymond James Financial, Inc. (RJF)

Apollo Global Management Inc. and Raymond James Financial, Inc. are both Asset Management companies. Apollo Global Management Inc. is the larger, with a market value of $71.3B against $30.5B — 2.3× the size. Raymond James Financial, Inc. trades at the lower P/E: 13.7× against 43.5×. Apollo Global Management Inc. grew revenue faster over the last twelve months: 41.2% against 8.04%. Raymond James Financial, Inc. has the higher net margin (13.5% vs 4.95%) and the higher return on invested capital (75.2% vs 16.2%). Both pay a dividend; Apollo Global Management Inc. yields more (1.76% vs 1.62%). Across the 22 metrics below, Raymond James Financial, Inc. leads on 12 and Apollo Global Management Inc. on 10.

Valuation

Metric APO RJF Asset Management median
P/E 43.46 13.66 14.62
P/S 2.01 1.83 2.97
P/B 1.80 2.43 0.94
Price to free cash flow 7.66 21.51 8.93
EV/EBITDA 6.56 4.55 10.32
EV/Sales 1.63 1.30 5.72
Earnings yield 2.30% 7.32% 4.53%
Free cash flow yield 13.06% 4.65% 4.65%

Profitability

Metric APO RJF Asset Management median
Gross margin 100.00% 100.00% 100.00%
Operating margin 21.03% 27.47% 33.03%
Net margin 4.95% 13.53% 13.53%
Free cash flow margin 26.39% 8.49% 12.44%
Return on equity 4.90% 18.41% 4.83%
Return on assets 0.39% 2.57% 1.57%
Return on invested capital 16.15% 75.18% 3.04%

Growth

Metric APO RJF Asset Management median
Revenue growth (TTM) 41.23% 8.04% 6.97%
EPS growth (last fiscal year) (33.09%) 6.19% —
Revenue growth, 5-year CAGR 68.58% 14.27% 12.13%
Net income growth, 5-year CAGR 95.13% 21.06% 0.00%

Health

Metric APO RJF Asset Management median
Debt to equity 0.33 0.43 0.42
Current ratio 1.70 1.06 1.28
Net debt to EBITDA (0.84) (2.09) 1.06

Dividend

Metric APO RJF Asset Management median
Dividend yield 1.76% 1.62% 6.92%
Payout ratio — 0.20 0.77

Size

Metric APO RJF Asset Management median
Market cap 71.28b 30.54b 721.34m

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