HA Sustainable Infrastructure Capital, Inc. (HASI) vs Blue Owl Capital Corporation (OBDC)

HA Sustainable Infrastructure Capital, Inc. and Blue Owl Capital Corporation are both Asset Management companies. Blue Owl Capital Corporation is the larger, with a market value of $5.4B against $4.7B — 1.2× the size. Blue Owl Capital Corporation trades at the lower P/E: 19.3× against 55.1×. HA Sustainable Infrastructure Capital, Inc. grew revenue faster over the last twelve months: 26.5% against −2.97%. HA Sustainable Infrastructure Capital, Inc. has the higher net margin (18.6% vs 17.0%) and the lower return on invested capital (2.39% vs 3.09%). Both pay a dividend; Blue Owl Capital Corporation yields more (10.9% vs 6.73%). Across the 22 metrics below, Blue Owl Capital Corporation leads on 17 and HA Sustainable Infrastructure Capital, Inc. on 5.

Valuation

Metric HASI OBDC Asset Management median
P/E 55.11 19.30 14.62
P/S 10.04 3.15 2.97
P/B 1.75 0.76 0.94
Price to free cash flow 14.34 2.43 8.93
EV/EBITDA 30.90 10.45 10.32
EV/Sales 22.25 7.67 5.72
Earnings yield 1.81% 5.18% 4.53%
Free cash flow yield 6.98% 41.21% 4.65%

Profitability

Metric HASI OBDC Asset Management median
Gross margin 100.00% 100.00% 100.00%
Operating margin 68.65% 75.33% 33.03%
Net margin 18.61% 16.99% 13.53%
Free cash flow margin 45.05% 129.88% 12.44%
Return on equity 3.29% 3.92% 4.83%
Return on assets 1.04% 1.76% 1.57%
Return on invested capital 2.39% 3.09% 3.04%

Growth

Metric HASI OBDC Asset Management median
Revenue growth (TTM) 26.51% (2.97%) 6.97%
EPS growth (last fiscal year) (12.96%) (18.95%) —
Revenue growth, 5-year CAGR 16.47% 18.17% 12.13%
Net income growth, 5-year CAGR 17.49% 10.10% 0.00%

Health

Metric HASI OBDC Asset Management median
Debt to equity 2.23 1.12 0.42
Current ratio 8.89 0.65 1.28
Net debt to EBITDA 17.91 6.51 1.06

Dividend

Metric HASI OBDC Asset Management median
Dividend yield 6.73% 10.85% 6.92%
Payout ratio 2.80 1.09 0.77

Size

Metric HASI OBDC Asset Management median
Market cap 4.66b 5.36b 721.34m

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