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. and Blue Owl Technology Finance Corp. are of similar size ($4.6B and $4.3B). Blue Owl Technology Finance Corp. trades at the lower P/E: 11.4× against 12.3×. Blue Owl Technology Finance Corp. grew revenue faster over the last twelve months: 55.6% against 24.0%. Hamilton Lane Inc. has the higher net margin (32.1% vs 28.7%) and the higher return on invested capital (14.5% vs 2.94%). Both pay a dividend; Blue Owl Technology Finance Corp. yields more (15.3% vs 2.79%). Across the 19 metrics below, Blue Owl Technology Finance Corp. leads on 10 and Hamilton Lane Inc. on 9.

Valuation

Metric HLNE OTF Asset Management median
P/E 12.34 11.41 13.99
P/S 3.96 3.22 2.76
P/B 2.01 0.56 0.85
Price to free cash flow 19.29 n/m 8.32
EV/EBITDA — — —
EV/Sales — — —
Earnings yield 8.10% 8.76% 4.72%
Free cash flow yield 5.18% (37.12%) 4.44%

Profitability

Metric HLNE OTF Asset Management median
Gross margin 100.00% 100.00% 100.00%
Operating margin 43.62% 82.41% 33.42%
Net margin 32.14% 28.70% 13.37%
Free cash flow margin 42.74% (119.50%) 12.36%
Return on equity 20.53% 4.83% 4.79%
Return on assets 12.71% 2.67% 1.55%
Return on invested capital 14.48% 2.94% 2.97%

Growth

Metric HLNE OTF Asset Management median
Revenue growth (TTM) 24.01% 55.63% 7.42%
EPS growth (last fiscal year) 9.43% 15.79% (6.67%)
Revenue growth, 5-year CAGR 17.31% 45.91% 12.51%
Net income growth, 5-year CAGR 20.51% 42.61% 0.00%

Health

Metric HLNE OTF Asset Management median
Debt to equity 0.16 0.95 0.44
Current ratio 3.49 0.05 1.30
Net debt to EBITDA (0.28) 6.31 1.02

Dividend

Metric HLNE OTF Asset Management median
Dividend yield 2.79% 15.33% 6.60%
Payout ratio 0.35 1.75 0.94

Size

Metric HLNE OTF Asset Management median
Market cap 4.61b 4.33b 694.86m

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