Ares Capital Corporation (ARCC) vs Corebridge Financial, Inc. (CRBG)

Ares Capital Corporation and Corebridge Financial, Inc. are both Asset Management companies. Corebridge Financial, Inc. is the larger, with a market value of $15.2B against $13.7B — 1.1× the size. Ares Capital Corporation trades at the lower P/E: 14.2× against 20.4×. Corebridge Financial, Inc. grew revenue faster over the last twelve months: 29.8% against 3.16%. Ares Capital Corporation has the higher net margin (30.9% vs 4.43%) and the lower return on invested capital (3.24% vs 4.59%). Both pay a dividend; Corebridge Financial, Inc. yields more (11.5% vs 9.60%). Across the 22 metrics below, Ares Capital Corporation leads on 12 and Corebridge Financial, Inc. on 10.

Valuation

Metric ARCC CRBG Asset Management median
P/E 14.23 20.39 14.62
P/S 4.44 0.79 2.97
P/B 0.99 1.46 0.94
Price to free cash flow n/m 8.55 8.93
EV/EBITDA 12.12 11.37 10.32
EV/Sales 9.32 1.31 5.72
Earnings yield 7.03% 4.90% 4.53%
Free cash flow yield (4.93%) 11.69% 4.65%

Profitability

Metric ARCC CRBG Asset Management median
Gross margin 100.00% 30.45% 100.00%
Operating margin 75.76% 8.01% 33.03%
Net margin 30.91% 4.43% 13.53%
Free cash flow margin (21.89%) 9.23% 12.44%
Return on equity 6.88% 7.39% 4.83%
Return on assets 3.22% 0.22% 1.57%
Return on invested capital 3.24% 4.59% 3.04%

Growth

Metric ARCC CRBG Asset Management median
Revenue growth (TTM) 3.16% 29.77% 6.97%
EPS growth (last fiscal year) (23.77%) (118.28%) —
Revenue growth, 5-year CAGR 15.10% 4.18% 12.13%
Net income growth, 5-year CAGR 21.83% 0.00% 0.00%

Health

Metric ARCC CRBG Asset Management median
Debt to equity 1.14 0.96 0.42
Current ratio 1.28 0.09 1.28
Net debt to EBITDA 6.59 18.45 1.06

Dividend

Metric ARCC CRBG Asset Management median
Dividend yield 9.60% 11.53% 6.92%
Payout ratio 1.14 — 0.77

Size

Metric ARCC CRBG Asset Management median
Market cap 13.72b 15.20b 721.34m

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