Corebridge Financial, Inc. (CRBG) vs Invesco Ltd. (IVZ)

Corebridge Financial, Inc. and Invesco Ltd. are both Asset Management companies. Corebridge Financial, Inc. is the larger, with a market value of $15.2B against $13.6B — 1.1× the size. Invesco Ltd. has negative trailing earnings, so its P/E is not meaningful; Corebridge Financial, Inc. trades at 20.4×. Corebridge Financial, Inc. grew revenue faster over the last twelve months: 29.8% against 12.2%. Corebridge Financial, Inc. has the higher net margin (4.43% vs −4.48%) and the higher return on invested capital (4.59% vs −1.34%). Both pay a dividend; Corebridge Financial, Inc. yields more (11.5% vs 5.33%). Across the 21 metrics below, Corebridge Financial, Inc. leads on 13 and Invesco Ltd. on 8.

Valuation

Metric CRBG IVZ Asset Management median
P/E 20.39 n/m 14.62
P/S 0.79 2.02 2.97
P/B 1.46 1.32 0.94
Price to free cash flow 8.55 7.27 8.93
EV/EBITDA 11.37 16.34 10.32
EV/Sales 1.31 3.43 5.72
Earnings yield 4.90% (2.20%) 4.53%
Free cash flow yield 11.69% 13.76% 4.65%

Profitability

Metric CRBG IVZ Asset Management median
Gross margin 30.45% 66.01% 100.00%
Operating margin 8.01% (7.10%) 33.03%
Net margin 4.43% (4.48%) 13.53%
Free cash flow margin 9.23% 27.83% 12.44%
Return on equity 7.39% (2.81%) 4.83%
Return on assets 0.22% (1.10%) 1.57%
Return on invested capital 4.59% (1.34%) 3.04%

Growth

Metric CRBG IVZ Asset Management median
Revenue growth (TTM) 29.77% 12.18% 6.97%
EPS growth (last fiscal year) (118.28%) (235.59%) —
Revenue growth, 5-year CAGR 4.18% 0.74% 12.13%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric CRBG IVZ Asset Management median
Debt to equity 0.96 0.81 0.42
Current ratio 0.09 1.31 1.28
Net debt to EBITDA 18.45 7.77 1.06

Dividend

Metric CRBG IVZ Asset Management median
Dividend yield 11.53% 5.33% 6.92%
Payout ratio — 0.54 0.77

Size

Metric CRBG IVZ Asset Management median
Market cap 15.20b 13.55b 721.34m

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