Goldman Sachs BDC, Inc. (GSBD) vs Virtus Investment Partners, Inc. (VRTS)

Goldman Sachs BDC, Inc. and Virtus Investment Partners, Inc. are both Asset Management companies. Goldman Sachs BDC, Inc. is the larger, with a market value of $1.0B against $813.9M — 1.2× the size. Virtus Investment Partners, Inc. trades at the lower P/E: 6.8× against 16.8×. Virtus Investment Partners, Inc. grew revenue faster over the last twelve months: −7.16% against −15.4%. Goldman Sachs BDC, Inc. has the higher net margin (17.2% vs 14.5%) and the higher return on invested capital (3.09% vs 0.00%). Both pay a dividend; Goldman Sachs BDC, Inc. yields more (15.8% vs 9.87%). Across the 19 metrics below, Virtus Investment Partners, Inc. leads on 10 and Goldman Sachs BDC, Inc. on 9.

Valuation

Metric GSBD VRTS Asset Management median
P/E 16.79 6.84 13.99
P/S 2.89 0.99 2.76
P/B 0.72 0.86 0.85
Price to free cash flow 12.07 n/m 8.32
EV/EBITDA — — —
EV/Sales — — —
Earnings yield 5.96% 14.62% 4.72%
Free cash flow yield 8.29% (6.38%) 4.44%

Profitability

Metric GSBD VRTS Asset Management median
Gross margin 100.00% 100.00% 100.00%
Operating margin 80.87% 15.71% 33.42%
Net margin 17.19% 14.52% 13.37%
Free cash flow margin 23.94% (6.29%) 12.36%
Return on equity 4.07% 12.99% 4.79%
Return on assets 1.75% 2.91% 1.55%
Return on invested capital 3.09% 0.00% 2.97%

Growth

Metric GSBD VRTS Asset Management median
Revenue growth (TTM) (15.41%) (7.16%) 7.42%
EPS growth (last fiscal year) 87.27% 18.24% (6.67%)
Revenue growth, 5-year CAGR 16.15% 7.15% 12.51%
Net income growth, 5-year CAGR (7.50%) 11.60% 0.00%

Health

Metric GSBD VRTS Asset Management median
Debt to equity 1.36 0.44 0.44
Current ratio 0.69 10.54 1.30
Net debt to EBITDA 6.17 (12.38) 1.02

Dividend

Metric GSBD VRTS Asset Management median
Dividend yield 15.81% 9.87% 6.60%
Payout ratio 2.65 0.69 0.94

Size

Metric GSBD VRTS Asset Management median
Market cap 1.00b 813.93m 694.86m

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