Hamilton Lane Inc. (HLNE) vs Blue Owl Capital Corporation (OBDC)

Hamilton Lane 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 — 1.1× the size. Hamilton Lane Inc. trades at the lower P/E: 13.0× against 19.3×. Hamilton Lane Inc. grew revenue faster over the last twelve months: 24.0% against −2.97%. Hamilton Lane Inc. has the higher net margin (32.1% vs 17.0%) and the higher return on invested capital (14.5% vs 3.09%). Both pay a dividend; Blue Owl Capital Corporation yields more (10.9% vs 1.55%). Across the 22 metrics below, Hamilton Lane Inc. leads on 14 and Blue Owl Capital Corporation on 8.

Valuation

Metric HLNE OBDC Asset Management median
P/E 13.00 19.30 14.62
P/S 4.17 3.15 2.97
P/B 2.11 0.76 0.94
Price to free cash flow 20.32 2.43 8.93
EV/EBITDA 9.11 10.45 10.32
EV/Sales 4.08 7.67 5.72
Earnings yield 7.69% 5.18% 4.53%
Free cash flow yield 4.92% 41.21% 4.65%

Profitability

Metric HLNE OBDC Asset Management median
Gross margin 100.00% 100.00% 100.00%
Operating margin 43.62% 75.33% 33.03%
Net margin 32.14% 16.99% 13.53%
Free cash flow margin 42.74% 129.88% 12.44%
Return on equity 20.53% 3.92% 4.83%
Return on assets 12.71% 1.76% 1.57%
Return on invested capital 14.48% 3.09% 3.04%

Growth

Metric HLNE OBDC Asset Management median
Revenue growth (TTM) 24.01% (2.97%) 6.97%
EPS growth (last fiscal year) 9.43% (18.95%) —
Revenue growth, 5-year CAGR 17.31% 18.17% 12.13%
Net income growth, 5-year CAGR 20.51% 10.10% 0.00%

Health

Metric HLNE OBDC Asset Management median
Debt to equity 0.16 1.12 0.42
Current ratio 3.49 0.65 1.28
Net debt to EBITDA (0.28) 6.51 1.06

Dividend

Metric HLNE OBDC Asset Management median
Dividend yield 1.55% 10.85% 6.92%
Payout ratio 0.57 1.09 0.77

Size

Metric HLNE OBDC Asset Management median
Market cap 4.70b 5.36b 721.34m

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