Carlyle Secured Lending, Inc. (CGBD) vs Vinci Compass Investments Ltd. (VINP)

Carlyle Secured Lending, Inc. and Vinci Compass Investments Ltd. are both Asset Management companies. Carlyle Secured Lending, Inc. and Vinci Compass Investments Ltd. are of similar size ($733.5M and $717.4M). Vinci Compass Investments Ltd. trades at the lower P/E: 15.2× against 20.4×. Vinci Compass Investments Ltd. grew revenue faster over the last twelve months: 36.2% against 10.7%. Vinci Compass Investments Ltd. has the higher net margin (23.2% vs 14.3%) and the higher return on invested capital (8.68% vs 2.75%). Both pay a dividend; Carlyle Secured Lending, Inc. yields more (14.4% vs 6.04%). Across the 20 metrics below, Vinci Compass Investments Ltd. leads on 12 and Carlyle Secured Lending, Inc. on 8.

Valuation

Metric CGBD VINP Asset Management median
P/E 20.41 15.18 13.99
P/S 2.78 3.58 2.76
P/B 0.67 1.68 0.85
Price to free cash flow 4.34 17.94 8.32
EV/EBITDA — — —
EV/Sales — — —
Earnings yield 4.90% 6.59% 4.72%
Free cash flow yield 23.05% 5.58% 4.44%

Profitability

Metric CGBD VINP Asset Management median
Gross margin 100.00% 100.00% 100.00%
Operating margin 74.29% 28.14% 33.42%
Net margin 14.26% 23.21% 13.37%
Free cash flow margin 64.17% 19.95% 12.36%
Return on equity 3.25% 12.24% 4.79%
Return on assets 1.47% 6.57% 1.55%
Return on invested capital 2.75% 8.68% 2.97%

Growth

Metric CGBD VINP Asset Management median
Revenue growth (TTM) 10.71% 36.21% 7.42%
EPS growth (last fiscal year) (36.08%) 46.15% (6.67%)
Revenue growth, 5-year CAGR 7.01% 21.56% 12.51%
Net income growth, 5-year CAGR 72.30% 3.37% 0.00%

Health

Metric CGBD VINP Asset Management median
Debt to equity 1.20 0.45 0.44
Current ratio 0.79 3.58 1.30
Net debt to EBITDA 9.27 (2.33) 1.02

Dividend

Metric CGBD VINP Asset Management median
Dividend yield 14.44% 6.04% 6.60%
Payout ratio 2.95 0.94 0.94

Size

Metric CGBD VINP Asset Management median
Market cap 733.46m 717.41m 694.86m

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