Moelis & Company (MC) vs Piper Sandler Companies (PIPR)

Moelis & Company and Piper Sandler Companies are both Capital Markets companies. Moelis & Company and Piper Sandler Companies are of similar size ($4.6B and $4.5B). Piper Sandler Companies trades at the lower P/E: 14.2× against 18.0×. Piper Sandler Companies grew revenue faster over the last twelve months: 32.4% against 13.7%. Piper Sandler Companies has the higher net margin (14.5% vs 14.5%) and the lower return on invested capital (26.1% vs 41.8%). Both pay a dividend; Moelis & Company yields more (4.77% vs 0.89%). Across the 20 metrics below, Moelis & Company leads on 10 and Piper Sandler Companies on 10.

Valuation

Metric MC PIPR Capital Markets median
P/E 18.00 14.20 14.20
P/S 2.62 2.07 2.00
P/B 6.43 2.79 1.51
Price to free cash flow 9.52 8.99 6.36
EV/EBITDA — — —
EV/Sales — — —
Earnings yield 5.55% 7.04% (3.94%)
Free cash flow yield 10.51% 11.12% (1.62%)

Profitability

Metric MC PIPR Capital Markets median
Gross margin 100.00% 99.05% 62.80%
Operating margin 18.40% 24.96% 0.00%
Net margin 14.50% 14.53% (0.55%)
Free cash flow margin 27.54% 23.02% 0.00%
Return on equity 36.89% 20.72% 0.00%
Return on assets 16.60% 14.34% 0.00%
Return on invested capital 41.81% 26.13% 0.00%

Growth

Metric MC PIPR Capital Markets median
Revenue growth (TTM) 13.69% 32.39% 20.70%
EPS growth (last fiscal year) 65.17% 54.49% 22.92%
Revenue growth, 5-year CAGR 9.97% 8.93% 18.16%
Net income growth, 5-year CAGR 5.44% 47.35% 0.00%

Health

Metric MC PIPR Capital Markets median
Debt to equity 0.00 0.00 0.08
Current ratio 1.71 1.41 1.50
Net debt to EBITDA (1.78) (1.72) (0.24)

Dividend

Metric MC PIPR Capital Markets median
Dividend yield 4.77% 0.89% 1.36%
Payout ratio 0.91 0.13 0.19

Size

Metric MC PIPR Capital Markets median
Market cap 4.49b 4.56b 565.91m

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