GCM Grosvenor Inc. (GCMG) vs Trinity Capital Inc. (TRIN)

GCM Grosvenor Inc. and Trinity Capital Inc. are both Asset Management companies. GCM Grosvenor Inc. is the larger, with a market value of $2.6B against $1.7B — 1.5× the size. Trinity Capital Inc. trades at the lower P/E: 10.1× against 16.7×. Trinity Capital Inc. grew revenue faster over the last twelve months: 25.7% against −22.4%. Trinity Capital Inc. has the higher net margin (44.5% vs 0.00%) and the lower return on invested capital (6.81% vs 28.1%). Both pay a dividend; Trinity Capital Inc. yields more (14.3% vs 5.47%). Across the 22 metrics below, GCM Grosvenor Inc. leads on 12 and Trinity Capital Inc. on 10.

Valuation

Metric GCMG TRIN Asset Management median
P/E 16.72 10.09 14.62
P/S 1.88 4.75 2.97
P/B 6.51 1.26 0.94
Price to free cash flow 4.27 n/m 8.93
EV/EBITDA 6.69 7.18 10.32
EV/Sales 2.41 5.67 5.72
Earnings yield 5.98% 9.91% 4.53%
Free cash flow yield 23.40% (37.20%) 4.65%

Profitability

Metric GCMG TRIN Asset Management median
Gross margin 0.00% 100.00% 100.00%
Operating margin 0.00% 77.39% 33.03%
Net margin 0.00% 44.50% 13.53%
Free cash flow margin 0.00% (176.44%) 12.44%
Return on equity 87.47% 13.66% 4.83%
Return on assets 6.77% 6.17% 1.57%
Return on invested capital 28.07% 6.81% 3.04%

Growth

Metric GCMG TRIN Asset Management median
Revenue growth (TTM) (22.39%) 25.65% 6.97%
EPS growth (last fiscal year) 1,300.00% (6.67%) —
Revenue growth, 5-year CAGR 3.69% 39.81% 12.13%
Net income growth, 5-year CAGR 16.13% 0.00% 0.00%

Health

Metric GCMG TRIN Asset Management median
Debt to equity 2.96 0.22 0.42
Current ratio 1.89 0.05 1.28
Net debt to EBITDA 1.42 1.55 1.06

Dividend

Metric GCMG TRIN Asset Management median
Dividend yield 5.47% 14.34% 6.92%
Payout ratio 0.83 2.75 0.77

Size

Metric GCMG TRIN Asset Management median
Market cap 2.56b 1.66b 721.34m

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