Equitable Holdings, Inc. (EQH) vs Blue Owl Capital Inc. (OWL)

Equitable Holdings, Inc. and Blue Owl Capital Inc. are both Asset Management companies. Equitable Holdings, Inc. and Blue Owl Capital Inc. are of similar size ($14.5B and $14.4B). Equitable Holdings, Inc. has negative trailing earnings, so its P/E is not meaningful; Blue Owl Capital Inc. trades at 77.7×. Blue Owl Capital Inc. grew revenue faster over the last twelve months: 14.2% against −22.1%. Blue Owl Capital Inc. has the higher net margin (2.71% vs −9.25%) and the higher return on invested capital (3.63% vs 0.00%). Across the 19 metrics below, Blue Owl Capital Inc. leads on 16 and Equitable Holdings, Inc. on 3.

Valuation

Metric EQH OWL Asset Management median
P/E n/m 77.67 14.62
P/S 1.41 2.15 2.97
P/B n/m 1.14 0.94
Price to free cash flow 11.34 4.85 8.93
EV/EBITDA 9.25 10.68 10.32
EV/Sales 0.45 3.18 5.72
Earnings yield (6.09%) 1.29% 4.53%
Free cash flow yield 8.82% 20.63% 4.65%

Profitability

Metric EQH OWL Asset Management median
Gross margin 44.18% 100.00% 100.00%
Operating margin (3.62%) 16.91% 33.03%
Net margin (9.25%) 2.71% 13.53%
Free cash flow margin 12.44% 44.26% 12.44%
Return on equity (168.29%) 1.35% 4.83%
Return on assets (0.31%) 0.66% 1.57%
Return on invested capital 0.00% 3.63% 3.04%

Growth

Metric EQH OWL Asset Management median
Revenue growth (TTM) (22.10%) 14.19% 6.97%
EPS growth (last fiscal year) (227.78%) (50.00%) —
Revenue growth, 5-year CAGR (1.24%) 62.95% 12.13%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric EQH OWL Asset Management median
Debt to equity 8.12 0.68 0.42
Current ratio 0.12 0.54 1.28
Net debt to EBITDA 60.82 3.13 1.06

Dividend

Metric EQH OWL Asset Management median
Dividend yield — 3.48% 6.92%
Payout ratio — 10.00 0.77

Size

Metric EQH OWL Asset Management median
Market cap 14.36b 14.53b 721.34m

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