Cohen & Steers Inc (CNS) vs Blue Owl Technology Finance Corp. (OTF)

Cohen & Steers Inc and Blue Owl Technology Finance Corp. are both Asset Management companies. Blue Owl Technology Finance Corp. is the larger, with a market value of $4.3B against $3.6B — 1.2× the size. Blue Owl Technology Finance Corp. trades at the lower P/E: 11.4× against 21.3×. Blue Owl Technology Finance Corp. grew revenue faster over the last twelve months: 55.6% against 7.42%. Cohen & Steers Inc has the higher net margin (28.8% vs 28.7%) and the higher return on invested capital (285.4% vs 2.94%). Both pay a dividend; Blue Owl Technology Finance Corp. yields more (15.3% vs 3.78%). Across the 19 metrics below, Blue Owl Technology Finance Corp. leads on 10 and Cohen & Steers Inc on 9.

Valuation

Metric CNS OTF Asset Management median
P/E 21.29 11.41 13.99
P/S 6.15 3.22 2.76
P/B 5.49 0.56 0.85
Price to free cash flow 52.49 n/m 8.32
EV/EBITDA — — —
EV/Sales — — —
Earnings yield 4.70% 8.76% 4.72%
Free cash flow yield 1.91% (37.12%) 4.44%

Profitability

Metric CNS OTF Asset Management median
Gross margin 100.00% 100.00% 100.00%
Operating margin 32.90% 82.41% 33.42%
Net margin 28.82% 28.70% 13.37%
Free cash flow margin 11.71% (119.50%) 12.36%
Return on equity 28.16% 4.83% 4.79%
Return on assets 20.38% 2.67% 1.55%
Return on invested capital 285.43% 2.94% 2.97%

Growth

Metric CNS OTF Asset Management median
Revenue growth (TTM) 7.42% 55.63% 7.42%
EPS growth (last fiscal year) 0.00% 15.79% (6.67%)
Revenue growth, 5-year CAGR 5.40% 45.91% 12.51%
Net income growth, 5-year CAGR 14.88% 42.61% 0.00%

Health

Metric CNS OTF Asset Management median
Debt to equity 0.00 0.95 0.44
Current ratio 12.46 0.05 1.30
Net debt to EBITDA (2.97) 6.31 1.02

Dividend

Metric CNS OTF Asset Management median
Dividend yield 3.78% 15.33% 6.60%
Payout ratio 0.81 1.75 0.94

Size

Metric CNS OTF Asset Management median
Market cap 3.55b 4.33b 694.86m

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