Blackstone Secured Lending Fund (BXSL) vs Federated Hermes, Inc. (FHI)

Blackstone Secured Lending Fund and Federated Hermes, Inc. are both Asset Management companies. Blackstone Secured Lending Fund is the larger, with a market value of $5.6B against $4.7B — 1.2× the size. Federated Hermes, Inc. trades at the lower P/E: 11.6× against 20.1×. Federated Hermes, Inc. grew revenue faster over the last twelve months: 13.2% against −6.71%. Blackstone Secured Lending Fund has the higher net margin (21.1% vs 20.3%) and the lower return on invested capital (0.00% vs 27.1%). Both pay a dividend; Blackstone Secured Lending Fund yields more (12.8% vs 2.25%). Across the 20 metrics below, Blackstone Secured Lending Fund leads on 10 and Federated Hermes, Inc. on 10.

Valuation

Metric BXSL FHI Asset Management median
P/E 20.12 11.56 13.38
P/S 4.26 2.31 2.99
P/B 0.96 3.52 0.91
Price to free cash flow 5.30 11.79 7.79
EV/EBITDA — — —
EV/Sales — — —
Earnings yield 4.97% 8.65% 4.67%
Free cash flow yield 18.85% 8.48% 4.85%

Profitability

Metric BXSL FHI Asset Management median
Gross margin 100.00% 100.00% 100.00%
Operating margin 83.28% 27.80% 27.27%
Net margin 21.06% 20.32% 11.89%
Free cash flow margin 80.36% 19.55% 5.96%
Return on equity 4.57% 32.33% 4.57%
Return on assets 2.02% 17.23% 1.40%
Return on invested capital 0.00% 27.06% 2.12%

Growth

Metric BXSL FHI Asset Management median
Revenue growth (TTM) (6.71%) 13.16% 7.26%
EPS growth (last fiscal year) (28.70%) 58.82% (5.64%)
Revenue growth, 5-year CAGR 29.50% 4.45% 11.84%
Net income growth, 5-year CAGR 20.84% 4.34% 0.00%

Health

Metric BXSL FHI Asset Management median
Debt to equity 1.20 0.27 0.40
Current ratio 0.00 2.48 1.23
Net debt to EBITDA (5.17) (0.44) 1.06

Dividend

Metric BXSL FHI Asset Management median
Dividend yield 12.76% 2.25% 6.43%
Payout ratio 2.57 0.26 0.91

Size

Metric BXSL FHI Asset Management median
Market cap 5.63b 4.73b 692.54m

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