Great Elm Capital Group, Inc. (GECC) vs PhenixFIN Corporation (PFX)

Great Elm Capital Group, Inc. and PhenixFIN Corporation are both Asset Management companies. PhenixFIN Corporation is the larger, with a market value of $88.8M against $73.2M — 1.2× the size. Great Elm Capital Group, Inc. has negative trailing earnings, so its P/E is not meaningful; PhenixFIN Corporation trades at 18.9×. PhenixFIN Corporation grew revenue faster over the last twelve months: 5.10% against −8.36%. PhenixFIN Corporation has the higher net margin (18.6% vs −87.7%) and the higher return on invested capital (3.29% vs 3.06%). Across the 18 metrics below, PhenixFIN Corporation leads on 10 and Great Elm Capital Group, Inc. on 8.

Valuation

Metric GECC PFX Asset Management median
P/E n/m 18.92 14.62
P/S 1.68 3.50 2.97
P/B 0.66 0.56 0.94
Price to free cash flow 2.44 n/m 8.93
EV/EBITDA 2.74 15.10 10.32
EV/Sales 5.35 9.24 5.72
Earnings yield (55.87%) 5.29% 4.53%
Free cash flow yield 40.91% (3.40%) 4.65%

Profitability

Metric GECC PFX Asset Management median
Gross margin 100.00% 100.00% 100.00%
Operating margin 71.45% 63.13% 33.03%
Net margin (87.74%) 18.55% 13.53%
Free cash flow margin 68.73% (11.89%) 12.44%
Return on equity (30.59%) 2.97% 4.83%
Return on assets (11.11%) 1.52% 1.57%
Return on invested capital 3.06% 3.29% 3.04%

Growth

Metric GECC PFX Asset Management median
Revenue growth (TTM) (8.36%) 5.10% 6.97%
EPS growth (last fiscal year) (813.89%) (77.44%) —
Revenue growth, 5-year CAGR 16.90% 3.26% 12.13%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric GECC PFX Asset Management median
Debt to equity 1.47 0.93 0.42
Current ratio 0.93 1.34 1.28
Net debt to EBITDA 2.35 8.95 1.06

Dividend

Metric GECC PFX Asset Management median
Dividend yield 13.52% — 6.92%
Payout ratio 1.29 0.00 0.77

Size

Metric GECC PFX Asset Management median
Market cap 73.20m 88.82m 721.34m

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