Hamilton Lane Inc. (HLNE) vs Blue Owl Technology Finance Corp. (OTF)

Hamilton Lane Inc. and Blue Owl Technology Finance Corp. are both Asset Management companies. Hamilton Lane Inc. is the larger, with a market value of $5.0B against $4.4B — 1.2× the size. Hamilton Lane Inc. trades at the lower P/E: 10.6× against 12.2×. Blue Owl Technology Finance Corp. grew revenue faster over the last twelve months: 33.7% against 18.9%. Hamilton Lane Inc. has the higher net margin (32.4% vs 27.1%) and the higher return on invested capital (12.9% vs 0.00%). Both pay a dividend; Blue Owl Technology Finance Corp. yields more (14.7% vs 2.52%). Across the 19 metrics below, Hamilton Lane Inc. leads on 12 and Blue Owl Technology Finance Corp. on 7.

Valuation

Metric HLNE OTF Asset Management median
P/E 10.58 12.23 13.38
P/S 4.27 3.28 2.99
P/B 1.93 0.58 0.91
Price to free cash flow 45.88 n/m 7.79
EV/EBITDA — — —
EV/Sales — — —
Earnings yield 9.45% 8.18% 4.67%
Free cash flow yield 2.18% (35.36%) 4.85%

Profitability

Metric HLNE OTF Asset Management median
Gross margin 100.00% 100.00% 100.00%
Operating margin 43.70% 0.00% 27.27%
Net margin 32.40% 27.11% 11.89%
Free cash flow margin 31.18% (116.08%) 5.96%
Return on equity 18.31% 4.61% 4.57%
Return on assets 11.98% 2.51% 1.40%
Return on invested capital 12.88% 0.00% 2.12%

Growth

Metric HLNE OTF Asset Management median
Revenue growth (TTM) 18.94% 33.71% 7.26%
EPS growth (last fiscal year) 9.43% 15.79% (5.64%)
Revenue growth, 5-year CAGR 17.31% 45.91% 11.84%
Net income growth, 5-year CAGR 20.51% 42.61% 0.00%

Health

Metric HLNE OTF Asset Management median
Debt to equity 0.14 0.95 0.40
Current ratio 3.37 0.00 1.23
Net debt to EBITDA (0.28) 6.31 1.06

Dividend

Metric HLNE OTF Asset Management median
Dividend yield 2.52% 14.68% 6.43%
Payout ratio 0.30 1.79 0.91

Size

Metric HLNE OTF Asset Management median
Market cap 5.03b 4.37b 692.54m

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