Equitable Holdings, Inc. (EQH) vs T. Rowe Price Group, Inc. (TROW)

Equitable Holdings, Inc. and T. Rowe Price Group, Inc. are both Asset Management companies. T. Rowe Price Group, Inc. is the larger, with a market value of $22.2B against $14.4B — 1.5× the size. Equitable Holdings, Inc. has negative trailing earnings, so its P/E is not meaningful; T. Rowe Price Group, Inc. trades at 10.6×. T. Rowe Price Group, Inc. grew revenue faster over the last twelve months: 6.97% against −22.1%. T. Rowe Price Group, Inc. has the higher net margin (28.6% vs −9.25%) and the higher return on invested capital (18.4% vs 0.00%). Across the 20 metrics below, T. Rowe Price Group, Inc. leads on 15 and Equitable Holdings, Inc. on 5.

Valuation

Metric EQH TROW Asset Management median
P/E n/m 10.57 14.62
P/S 1.41 2.97 2.97
P/B n/m 2.02 0.94
Price to free cash flow 11.34 13.49 8.93
EV/EBITDA 9.25 6.68 10.32
EV/Sales 0.45 2.55 5.72
Earnings yield (6.09%) 9.46% 4.53%
Free cash flow yield 8.82% 7.41% 4.65%

Profitability

Metric EQH TROW Asset Management median
Gross margin 44.18% 100.00% 100.00%
Operating margin (3.62%) 30.76% 33.03%
Net margin (9.25%) 28.59% 13.53%
Free cash flow margin 12.44% 22.05% 12.44%
Return on equity (168.29%) 19.85% 4.83%
Return on assets (0.31%) 14.62% 1.57%
Return on invested capital 0.00% 18.41% 3.04%

Growth

Metric EQH TROW Asset Management median
Revenue growth (TTM) (22.10%) 6.97% 6.97%
EPS growth (last fiscal year) (227.78%) 0.98% —
Revenue growth, 5-year CAGR (1.24%) 3.34% 12.13%
Net income growth, 5-year CAGR 0.00% (2.47%) 0.00%

Health

Metric EQH TROW Asset Management median
Debt to equity 8.12 0.00 0.42
Current ratio 0.12 4.04 1.28
Net debt to EBITDA 60.82 (1.21) 1.06

Dividend

Metric EQH TROW Asset Management median
Dividend yield — 4.58% 6.92%
Payout ratio — 0.72 0.77

Size

Metric EQH TROW Asset Management median
Market cap 14.36b 22.24b 721.34m

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