Carlyle Group Inc. (CG) vs Invesco Ltd. (IVZ)

Carlyle Group Inc. and Invesco Ltd. are both Asset Management companies. Carlyle Group Inc. and Invesco Ltd. are of similar size ($14.1B and $13.6B). Invesco Ltd. has negative trailing earnings, so its P/E is not meaningful; Carlyle Group Inc. trades at 39.6×. Invesco Ltd. grew revenue faster over the last twelve months: 12.2% against −41.9%. Carlyle Group Inc. has the higher net margin (10.1% vs −4.48%) and the higher return on invested capital (4.40% vs −1.34%). Both pay a dividend; Invesco Ltd. yields more (5.33% vs 3.28%). Across the 21 metrics below, Carlyle Group Inc. leads on 13 and Invesco Ltd. on 8.

Valuation

Metric CG IVZ Asset Management median
P/E 39.63 n/m 14.62
P/S 3.97 2.02 2.97
P/B 1.99 1.32 0.94
Price to free cash flow n/m 7.27 8.93
EV/EBITDA 9.73 16.34 10.32
EV/Sales 4.39 3.43 5.72
Earnings yield 2.52% (2.20%) 4.53%
Free cash flow yield (33.11%) 13.76% 4.65%

Profitability

Metric CG IVZ Asset Management median
Gross margin 100.00% 66.01% 100.00%
Operating margin 39.60% (7.10%) 33.03%
Net margin 10.08% (4.48%) 13.53%
Free cash flow margin (114.16%) 27.83% 12.44%
Return on equity 5.22% (2.81%) 4.83%
Return on assets 1.37% (1.10%) 1.57%
Return on invested capital 4.40% (1.34%) 3.04%

Growth

Metric CG IVZ Asset Management median
Revenue growth (TTM) (41.88%) 12.18% 6.97%
EPS growth (last fiscal year) (21.30%) (235.59%) —
Revenue growth, 5-year CAGR 10.25% 0.74% 12.13%
Net income growth, 5-year CAGR 18.36% 0.00% 0.00%

Health

Metric CG IVZ Asset Management median
Debt to equity 1.91 0.81 0.42
Current ratio 2.35 1.31 1.28
Net debt to EBITDA (0.47) 7.77 1.06

Dividend

Metric CG IVZ Asset Management median
Dividend yield 3.28% 5.33% 6.92%
Payout ratio — 0.54 0.77

Size

Metric CG IVZ Asset Management median
Market cap 14.05b 13.55b 721.34m

Compare with another peer

Any metric, up to five companies and an Excel export Powerpack