Investcorp Credit Management BDC, Inc. (ICMB) vs Safeguard Scientifics, Inc. (SFES)

Investcorp Credit Management BDC, Inc. and Safeguard Scientifics, Inc. are both Asset Management companies. Investcorp Credit Management BDC, Inc. is the larger, with a market value of $12.4M against $7.5M — 1.6× the size. Investcorp Credit Management BDC, Inc. has negative trailing earnings, so its P/E is not meaningful; Safeguard Scientifics, Inc. trades at 0.4×. Safeguard Scientifics, Inc. has the higher net margin (0.00% vs −132.8%) and the lower return on invested capital (−84.1% vs 0.33%). Across the 13 metrics below, Safeguard Scientifics, Inc. leads on 8 and Investcorp Credit Management BDC, Inc. on 5.

Valuation

Metric ICMB SFES Asset Management median
P/E n/m 0.35 14.62
P/S 0.82 n/m 2.97
P/B 0.25 1.10 0.94
Price to free cash flow 0.37 n/m 8.93
EV/EBITDA 12.22 n/m 10.32
EV/Sales 6.65 n/m 5.72
Earnings yield (165.12%) 284.10% 4.53%
Free cash flow yield 269.17% (20.74%) 4.65%

Profitability

Metric ICMB SFES Asset Management median
Gross margin 100.00% — 100.00%
Operating margin 56.53% 0.00% 33.03%
Net margin (132.75%) 0.00% 13.53%
Free cash flow margin 220.26% 0.00% 12.44%
Return on equity (32.04%) 237.38% 4.83%
Return on assets (10.45%) 214.23% 1.57%
Return on invested capital 0.33% (84.13%) 3.04%

Growth

Metric ICMB SFES Asset Management median
Revenue growth (TTM) (27.36%) — 6.97%
EPS growth (last fiscal year) (114.56%) 116.13% —
Revenue growth, 5-year CAGR (12.78%) — 12.13%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric ICMB SFES Asset Management median
Debt to equity 2.20 0.00 0.42
Current ratio 7.28 8.07 1.28
Net debt to EBITDA 10.61 5.40 1.06

Dividend

Metric ICMB SFES Asset Management median
Dividend yield 13.89% — 6.92%
Payout ratio 2.55 0.00 0.77

Size

Metric ICMB SFES Asset Management median
Market cap 12.41m 7.54m 721.34m

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