Marex Group PLC (MRX) vs Piper Sandler Companies (PIPR)

Marex Group PLC and Piper Sandler Companies are both Capital Markets companies. Marex Group PLC and Piper Sandler Companies are of similar size ($5.2B and $5.0B). Piper Sandler Companies trades at the lower P/E: 15.9× against 16.9×. Marex Group PLC has the higher net margin (15.3% vs 14.5%) and the lower return on invested capital (0.00% vs 26.1%). Across the 18 metrics below, Piper Sandler Companies leads on 10 and Marex Group PLC on 8.

Valuation

Metric MRX PIPR Capital Markets median
P/E 16.86 15.88 15.78
P/S 2.49 2.32 2.32
P/B 2.74 3.12 1.89
Price to free cash flow 2.23 10.06 6.25
EV/EBITDA n/m 8.21 8.87
EV/Sales (3.31) 2.28 2.28
Earnings yield 5.93% 6.30% (3.77%)
Free cash flow yield 44.87% 9.94% (1.49%)

Profitability

Metric MRX PIPR Capital Markets median
Gross margin 100.00% 99.05% 62.80%
Operating margin 36.42% 24.96% 0.00%
Net margin 15.28% 14.53% (0.55%)
Free cash flow margin 0.00% 23.02% 0.00%
Return on equity 0.00% 20.72% 0.00%
Return on assets 0.00% 14.34% 0.00%
Return on invested capital 0.00% 26.13% 0.00%

Growth

Metric MRX PIPR Capital Markets median
Revenue growth (TTM) — 32.39% 21.02%
EPS growth (last fiscal year) 41.91% 54.49% —
Revenue growth, 5-year CAGR — 8.93% 18.16%
Net income growth, 5-year CAGR — 47.35% 0.00%

Health

Metric MRX PIPR Capital Markets median
Debt to equity 4.96 0.00 0.08
Current ratio 1.09 1.41 1.51
Net debt to EBITDA (12.17) (1.72) (0.24)

Dividend

Metric MRX PIPR Capital Markets median
Dividend yield — 3.12% 2.20%
Payout ratio — 0.49 0.00

Size

Metric MRX PIPR Capital Markets median
Market cap 5.23b 5.02b 724.58m

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