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

Hamilton Lane Inc. and Blue Owl Capital Corporation are both Asset Management companies. Hamilton Lane Inc. and Blue Owl Capital Corporation are of similar size ($5.3B and $5.0B). Hamilton Lane Inc. trades at the lower P/E: 10.6× against 15.9×. Hamilton Lane Inc. grew revenue faster over the last twelve months: 18.9% against −8.90%. Hamilton Lane Inc. has the higher net margin (32.4% vs 20.8%) and the higher return on invested capital (12.9% vs 2.98%). Both pay a dividend; Blue Owl Capital Corporation yields more (12.8% vs 2.52%). Across the 20 metrics below, Hamilton Lane Inc. leads on 12 and Blue Owl Capital Corporation on 8.

Valuation

Metric HLNE OBDC Asset Management median
P/E 10.58 15.91 13.38
P/S 4.27 3.25 2.99
P/B 1.93 0.76 0.91
Price to free cash flow 45.88 2.22 7.79
EV/EBITDA — — —
EV/Sales — — —
Earnings yield 9.45% 6.28% 4.67%
Free cash flow yield 2.18% 45.06% 4.85%

Profitability

Metric HLNE OBDC Asset Management median
Gross margin 100.00% 100.00% 100.00%
Operating margin 43.70% 75.08% 27.27%
Net margin 32.40% 20.79% 11.89%
Free cash flow margin 31.18% 146.54% 5.96%
Return on equity 18.31% 4.66% 4.57%
Return on assets 11.98% 2.05% 1.40%
Return on invested capital 12.88% 2.98% 2.12%

Growth

Metric HLNE OBDC Asset Management median
Revenue growth (TTM) 18.94% (8.90%) 7.26%
EPS growth (last fiscal year) 9.43% (18.95%) (5.64%)
Revenue growth, 5-year CAGR 17.31% 18.17% 11.84%
Net income growth, 5-year CAGR 20.51% 10.10% 0.00%

Health

Metric HLNE OBDC Asset Management median
Debt to equity 0.14 1.16 0.40
Current ratio 3.37 0.85 1.23
Net debt to EBITDA (0.28) 6.51 1.06

Dividend

Metric HLNE OBDC Asset Management median
Dividend yield 2.52% 12.75% 6.43%
Payout ratio 0.30 2.03 0.91

Size

Metric HLNE OBDC Asset Management median
Market cap 5.03b 5.33b 692.54m

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