GCM Grosvenor Inc. (GCMG) vs Sixth Street Specialty Lending, Inc. (TSLX)

GCM Grosvenor Inc. and Sixth Street Specialty Lending, Inc. are both Asset Management companies. GCM Grosvenor Inc. is the larger, with a market value of $2.6B against $1.7B — 1.6× the size. GCM Grosvenor Inc. trades at the lower P/E: 16.9× against 18.3×. Sixth Street Specialty Lending, Inc. grew revenue faster over the last twelve months: −13.8% against −22.4%. Sixth Street Specialty Lending, Inc. has the higher net margin (21.8% vs 0.00%) and the lower return on invested capital (3.54% vs 28.1%). Both pay a dividend; Sixth Street Specialty Lending, Inc. yields more (10.4% vs 3.64%). Across the 21 metrics below, GCM Grosvenor Inc. leads on 11 and Sixth Street Specialty Lending, Inc. on 10.

Valuation

Metric GCMG TSLX Asset Management median
P/E 16.92 18.27 14.50
P/S 1.91 4.03 2.78
P/B 6.59 1.07 0.85
Price to free cash flow 4.33 15.94 8.49
EV/EBITDA — — —
EV/Sales — — —
Earnings yield 5.91% 5.47% 4.66%
Free cash flow yield 23.12% 6.27% 4.18%

Profitability

Metric GCMG TSLX Asset Management median
Gross margin 0.00% 100.00% 100.00%
Operating margin 0.00% 75.07% 33.42%
Net margin 0.00% 21.77% 13.37%
Free cash flow margin 0.00% 25.30% 12.66%
Return on equity 87.47% 5.62% 4.82%
Return on assets 6.77% 2.56% 1.66%
Return on invested capital 28.07% 3.54% 3.00%

Growth

Metric GCMG TSLX Asset Management median
Revenue growth (TTM) (22.39%) (13.78%) 7.42%
EPS growth (last fiscal year) 1,300.00% (10.84%) (6.67%)
Revenue growth, 5-year CAGR 3.69% 10.71% 12.51%
Net income growth, 5-year CAGR 62.14% (0.87%) 0.00%

Health

Metric GCMG TSLX Asset Management median
Debt to equity 2.96 1.24 0.44
Current ratio 1.89 9.83 1.30
Net debt to EBITDA 1.42 5.29 1.02

Dividend

Metric GCMG TSLX Asset Management median
Dividend yield 3.64% 10.37% 6.56%
Payout ratio 0.92 1.89 0.94

Size

Metric GCMG TSLX Asset Management median
Market cap 2.63b 1.68b 700.96m

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