Nuveen Churchill Direct Lending Corp. (NCDL) vs Vinci Compass Investments Ltd. (VINP)

Nuveen Churchill Direct Lending Corp. and Vinci Compass Investments Ltd. are both Asset Management companies. Nuveen Churchill Direct Lending Corp. and Vinci Compass Investments Ltd. are of similar size ($585.9M and $563.4M). Vinci Compass Investments Ltd. trades at the lower P/E: 11.8× against 13.8×. Vinci Compass Investments Ltd. grew revenue faster over the last twelve months: 36.2% against −14.2%. Nuveen Churchill Direct Lending Corp. has the higher net margin (24.0% vs 23.2%) and the higher return on invested capital (11.5% vs 8.68%). Both pay a dividend; Vinci Compass Investments Ltd. yields more (7.75% vs 3.77%). Across the 20 metrics below, Nuveen Churchill Direct Lending Corp. leads on 10 and Vinci Compass Investments Ltd. on 10.

Valuation

Metric NCDL VINP Asset Management median
P/E 13.83 11.83 13.38
P/S 3.20 2.79 2.99
P/B 0.70 1.31 0.91
Price to free cash flow 4.23 13.98 7.79
EV/EBITDA — — —
EV/Sales — — —
Earnings yield 7.23% 8.45% 4.67%
Free cash flow yield 23.63% 7.15% 4.85%

Profitability

Metric NCDL VINP Asset Management median
Gross margin 100.00% 100.00% 100.00%
Operating margin 80.72% 28.14% 27.27%
Net margin 23.98% 23.21% 11.89%
Free cash flow margin 75.67% 19.95% 5.96%
Return on equity 5.12% 12.24% 4.57%
Return on assets 2.23% 6.57% 1.40%
Return on invested capital 11.52% 8.68% 2.12%

Growth

Metric NCDL VINP Asset Management median
Revenue growth (TTM) (14.24%) 36.21% 7.26%
EPS growth (last fiscal year) (39.53%) 46.15% (5.64%)
Revenue growth, 5-year CAGR 73.29% 21.56% 11.84%
Net income growth, 5-year CAGR 98.20% 3.37% 0.00%

Health

Metric NCDL VINP Asset Management median
Debt to equity 0.00 0.45 0.40
Current ratio 0.06 3.58 1.23
Net debt to EBITDA 5.46 (2.33) 1.06

Dividend

Metric NCDL VINP Asset Management median
Dividend yield 3.77% 7.75% 6.43%
Payout ratio 0.52 0.94 0.91

Size

Metric NCDL VINP Asset Management median
Market cap 585.87m 563.44m 692.54m

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