Cohen & Steers Inc (CNS) vs Hamilton Lane Inc. (HLNE)

Cohen & Steers Inc and Hamilton Lane Inc. are both Asset Management companies. Hamilton Lane Inc. is the larger, with a market value of $4.7B against $3.9B — 1.2× the size. Hamilton Lane Inc. trades at the lower P/E: 13.0× against 22.7×. Hamilton Lane Inc. grew revenue faster over the last twelve months: 24.0% against 7.42%. Hamilton Lane Inc. has the higher net margin (32.1% vs 28.8%) and the lower return on invested capital (14.5% vs 285.4%). Both pay a dividend; Cohen & Steers Inc yields more (3.43% vs 1.55%). Across the 22 metrics below, Hamilton Lane Inc. leads on 15 and Cohen & Steers Inc on 7.

Valuation

Metric CNS HLNE Asset Management median
P/E 22.69 13.00 14.62
P/S 6.55 4.17 2.97
P/B 5.85 2.11 0.94
Price to free cash flow 55.94 20.32 8.93
EV/EBITDA 16.00 9.11 10.32
EV/Sales 5.75 4.08 5.72
Earnings yield 4.41% 7.69% 4.53%
Free cash flow yield 1.79% 4.92% 4.65%

Profitability

Metric CNS HLNE Asset Management median
Gross margin 100.00% 100.00% 100.00%
Operating margin 32.90% 43.62% 33.03%
Net margin 28.82% 32.14% 13.53%
Free cash flow margin 11.71% 42.74% 12.44%
Return on equity 28.16% 20.53% 4.83%
Return on assets 20.38% 12.71% 1.57%
Return on invested capital 285.43% 14.48% 3.04%

Growth

Metric CNS HLNE Asset Management median
Revenue growth (TTM) 7.42% 24.01% 6.97%
EPS growth (last fiscal year) 0.00% 9.43% —
Revenue growth, 5-year CAGR 5.40% 17.31% 12.13%
Net income growth, 5-year CAGR 14.88% 20.51% 0.00%

Health

Metric CNS HLNE Asset Management median
Debt to equity 0.00 0.16 0.42
Current ratio 12.46 3.49 1.28
Net debt to EBITDA (2.97) (0.28) 1.06

Dividend

Metric CNS HLNE Asset Management median
Dividend yield 3.43% 1.55% 6.92%
Payout ratio 0.77 0.57 0.77

Size

Metric CNS HLNE Asset Management median
Market cap 3.86b 4.70b 721.34m

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