Cohen & Steers Inc (CNS) vs Blue Owl Capital Corporation (OBDC)

Cohen & Steers Inc and Blue Owl Capital Corporation are both Asset Management companies. Blue Owl Capital Corporation is the larger, with a market value of $5.3B against $3.8B — 1.4× the size. Blue Owl Capital Corporation trades at the lower P/E: 15.9× against 22.4×. Cohen & Steers Inc grew revenue faster over the last twelve months: 8.60% against −8.90%. Cohen & Steers Inc has the higher net margin (28.2% vs 20.8%) and the lower return on invested capital (0.00% vs 2.98%). Both pay a dividend; Blue Owl Capital Corporation yields more (12.8% vs 3.58%). Across the 20 metrics below, Blue Owl Capital Corporation leads on 11 and Cohen & Steers Inc on 9.

Valuation

Metric CNS OBDC Asset Management median
P/E 22.38 15.91 13.38
P/S 6.31 3.25 2.99
P/B 5.56 0.76 0.91
Price to free cash flow 105.86 2.22 7.79
EV/EBITDA — — —
EV/Sales — — —
Earnings yield 4.47% 6.28% 4.67%
Free cash flow yield 0.94% 45.06% 4.85%

Profitability

Metric CNS OBDC Asset Management median
Gross margin 100.00% 100.00% 100.00%
Operating margin 32.40% 75.08% 27.27%
Net margin 28.16% 20.79% 11.89%
Free cash flow margin 5.96% 146.54% 5.96%
Return on equity 27.10% 4.66% 4.57%
Return on assets 38.10% 2.05% 1.40%
Return on invested capital 0.00% 2.98% 2.12%

Growth

Metric CNS OBDC Asset Management median
Revenue growth (TTM) 8.60% (8.90%) 7.26%
EPS growth (last fiscal year) 0.00% (18.95%) (5.64%)
Revenue growth, 5-year CAGR 5.40% 18.17% 11.84%
Net income growth, 5-year CAGR 14.88% 10.10% 0.00%

Health

Metric CNS OBDC Asset Management median
Debt to equity 0.00 1.16 0.40
Current ratio 9.19 0.85 1.23
Net debt to EBITDA (2.97) 6.51 1.06

Dividend

Metric CNS OBDC Asset Management median
Dividend yield 3.58% 12.75% 6.43%
Payout ratio 0.81 2.03 0.91

Size

Metric CNS OBDC Asset Management median
Market cap 3.77b 5.33b 692.54m

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