BARINGS BDC, INC. (BBDC) vs Burford Capital Limited (BUR)

BARINGS BDC, INC. and Burford Capital Limited are both Asset Management companies. BARINGS BDC, INC. and Burford Capital Limited are of similar size ($915.1M and $869.6M). Burford Capital Limited has negative trailing earnings, so its P/E is not meaningful; BARINGS BDC, INC. trades at 10.3×. BARINGS BDC, INC. grew revenue faster over the last twelve months: −8.46% against −402.2%. Burford Capital Limited has the higher net margin (115.0% vs 34.2%) and the lower return on invested capital (−23.3% vs 0.00%). Both pay a dividend; BARINGS BDC, INC. yields more (11.9% vs 1.58%). Across the 17 metrics below, BARINGS BDC, INC. leads on 14 and Burford Capital Limited on 3.

Valuation

Metric BBDC BUR Asset Management median
P/E 10.29 n/m 13.38
P/S 3.55 n/m 2.99
P/B 0.80 0.58 0.91
Price to free cash flow 3.48 n/m 7.79
EV/EBITDA — — —
EV/Sales — — —
Earnings yield 9.71% (189.65%) 4.67%
Free cash flow yield 28.76% (33.55%) 4.85%

Profitability

Metric BBDC BUR Asset Management median
Gross margin 100.00% 100.00% 100.00%
Operating margin 0.00% 99.48% 27.27%
Net margin 34.18% 115.02% 11.89%
Free cash flow margin 102.10% 20.41% 5.96%
Return on equity 7.64% (70.01%) 4.57%
Return on assets 3.23% (30.20%) 1.40%
Return on invested capital 0.00% (23.34%) 2.12%

Growth

Metric BBDC BUR Asset Management median
Revenue growth (TTM) (8.46%) (402.21%) 7.26%
EPS growth (last fiscal year) (6.73%) (57.58%) (5.64%)
Revenue growth, 5-year CAGR 31.49% 2.85% 11.84%
Net income growth, 5-year CAGR 65.63% (17.64%) 0.00%

Health

Metric BBDC BUR Asset Management median
Debt to equity 0.29 1.53 0.40
Current ratio 0.09 0.00 1.23
Net debt to EBITDA 0.69 6.34 1.06

Dividend

Metric BBDC BUR Asset Management median
Dividend yield 11.89% 1.58% 6.43%
Payout ratio 1.22 — 0.91

Size

Metric BBDC BUR Asset Management median
Market cap 915.14m 869.60m 692.54m

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