Strive, Inc. (ASST) vs Golub Capital BDC, Inc. (GBDC)

Strive, Inc. and Golub Capital BDC, Inc. are both Asset Management companies. Golub Capital BDC, Inc. is the larger, with a market value of $3.2B against $2.6B — 1.2× the size. Strive, Inc. has negative trailing earnings, so its P/E is not meaningful; Golub Capital BDC, Inc. trades at 18.6×. Strive, Inc. grew revenue faster over the last twelve months: 33.5% against −8.73%. Golub Capital BDC, Inc. has the higher net margin (21.5% vs −11,474.6%) and the higher return on invested capital (2.81% vs −111.5%). Across the 17 metrics below, Golub Capital BDC, Inc. leads on 12 and Strive, Inc. on 5.

Valuation

Metric ASST GBDC Asset Management median
P/E n/m 18.65 13.99
P/S 213.32 3.94 2.76
P/B 2.81 0.85 0.85
Price to free cash flow n/m 3.43 8.32
EV/EBITDA — — —
EV/Sales — — —
Earnings yield (51.29%) 5.36% 4.72%
Free cash flow yield (80.97%) 29.13% 4.44%

Profitability

Metric ASST GBDC Asset Management median
Gross margin 100.00% 100.00% 100.00%
Operating margin (9,606.28%) 78.18% 33.42%
Net margin (11,474.60%) 21.45% 13.37%
Free cash flow margin (17,270.45%) 114.85% 12.36%
Return on equity (300.68%) 4.46% 4.79%
Return on assets (141.33%) 1.95% 1.55%
Return on invested capital (111.48%) 2.81% 2.97%

Growth

Metric ASST GBDC Asset Management median
Revenue growth (TTM) 33.53% (8.73%) 7.42%
EPS growth (last fiscal year) 1.95% 4.41% (6.67%)
Revenue growth, 5-year CAGR 131.15% 23.84% 12.51%
Net income growth, 5-year CAGR 0.00% 47.00% 0.00%

Health

Metric ASST GBDC Asset Management median
Debt to equity 0.00 1.22 0.44
Current ratio 7.62 1.33 1.30
Net debt to EBITDA (0.82) 6.94 1.02

Dividend

Metric ASST GBDC Asset Management median
Dividend yield — 11.39% 6.60%
Payout ratio — 2.12 0.94

Size

Metric ASST GBDC Asset Management median
Market cap 2.60b 3.19b 694.86m

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