Invesco Ltd. (IVZ) vs Blue Owl Capital Inc. (OWL)

Invesco Ltd. and Blue Owl Capital Inc. are both Asset Management companies. Blue Owl Capital Inc. is the larger, with a market value of $15.5B against $11.9B — 1.3× the size. Invesco Ltd. has negative trailing earnings, so its P/E is not meaningful; Blue Owl Capital Inc. trades at 71.1×. Invesco Ltd. grew revenue faster over the last twelve months: 13.7% against 11.8%. Blue Owl Capital Inc. has the higher net margin (3.08% vs −4.43%) and the higher return on invested capital (4.07% vs −0.89%). Both pay a dividend; Blue Owl Capital Inc. yields more (9.14% vs 3.13%). Across the 19 metrics below, Blue Owl Capital Inc. leads on 15 and Invesco Ltd. on 4.

Valuation

Metric IVZ OWL Asset Management median
P/E n/m 71.14 13.38
P/S 1.71 2.27 2.99
P/B 1.13 1.29 0.91
Price to free cash flow 6.87 4.63 7.79
EV/EBITDA — — —
EV/Sales — — —
Earnings yield (2.54%) 1.41% 4.67%
Free cash flow yield 14.55% 21.61% 4.85%

Profitability

Metric IVZ OWL Asset Management median
Gross margin 65.93% 100.00% 100.00%
Operating margin (4.54%) 17.62% 27.27%
Net margin (4.43%) 3.08% 11.89%
Free cash flow margin 24.91% 48.96% 5.96%
Return on equity (2.81%) 1.63% 4.57%
Return on assets (1.13%) 0.77% 1.40%
Return on invested capital (0.89%) 4.07% 2.12%

Growth

Metric IVZ OWL Asset Management median
Revenue growth (TTM) 13.65% 11.76% 7.26%
EPS growth (last fiscal year) (235.59%) (50.00%) (5.64%)
Revenue growth, 5-year CAGR 0.74% 62.95% 11.84%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric IVZ OWL Asset Management median
Debt to equity 0.78 0.67 0.40
Current ratio 1.16 0.53 1.23
Net debt to EBITDA 7.77 3.13 1.06

Dividend

Metric IVZ OWL Asset Management median
Dividend yield 3.13% 9.14% 6.43%
Payout ratio — 6.50 0.91

Size

Metric IVZ OWL Asset Management median
Market cap 11.90b 15.49b 692.54m

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